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Federal reserve. the fed chief, jerome powell, speaks today at 2:00 p.m. eastern time. the central bank expected to raise rates for now the third time this year. on wall street, the dow and s&p 500 closed lower. the trump administration once again talking tough on trade. the top u.s. trade official warning canada it has until this weekend for nafta renegotiations, and time is running out. if ottawa does not agree, the u.s. plans to move forward with or without canada. that's right, a nafta without canada. nike's summer sales were strong. a hot streak that predates colin kaepernick and the ad...

A true sense. it's an attack on what we all stand for. >> hours later, at 4:00 a.m., the president was clearly still enraged, firing off tweets about the cohen rage including attorney-client privilege is dead. >> attorney-client privilege is not a magic wand, but a carefully defined privilege. anything you say to an attorney is not by definition privileged, and it's certainly not privileged if the attorney is helping you commit a crime or conceal a crime. >> cohen was not charged with anything at the time, but the fbi seizures parked a fire storm that is still burning for michael cohen and for...

Attorney general rosenstein's replacement is who supervises mule tore shut the investigation down. if he did so overtly, or behind the scenes, i have no doubt that would quickly become known and there would be the same sort of fire storm. even more to the point, if you fire someone like mueller, what happens? you have to actually replace him with somebody or shut down the investigation completely which would be an even bigger disturbance in the political spectrum and lead to even greater uncertainly for the president. i don't think that firing rosenstein if that's what the president does today...

And wherei want to tell you. we have great people in the department of justice. we have great people -- these are people -- i really believe you take a pole. i got to be at 95%. but you got some real bad ones. they're all gone. they're all gone. they're all gone. but there's a lingering sterch and we're going to get rid of that too. >> so the question, what happens of the political fire storm around rosenstein. we have this report ahead. >> reporter: deputy attorney general, rod rosenstein floated the idea of secretly wearing a wire to record president trump last year. the second most powerful...

10:00 a.m. that's the deadline. how do you see this playing out? >> well, i think that she originally boxed them in by saying she would testify and they recognized that they would invite a political fire storm that they didn't agree to hear her and they heard from several republicans, including senator collins and senator flake that they wanted to hear from her. now i think they would like nothing better than for her not to come. and not to testify. and they're making it as difficult as they can for her by saying, we won't do an investigation. so it will be a he said, she said situation. and i...