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Price of gasoline increased. But prices may not be on the feds magic number just yet. Vice chair Stanley Fisher warned that its too low. Its too low now. I never thought i would live as a central banker to see us complaining about low inflation. And yeah we are complaining about low inflation. We need to get it to 2 . And the closely followed barometer of the Housing Market came above estimates. Construction of new homes jumped 10 in may but all of it was in the multifamily apartment side. Single Home Building has been been limping along. There is demand but as diana olick reports, they are up...

Electronics, all that ahead on bloomberg west. First, u. S. Defense secretary says he has a lot to learn from Silicon Valley. Hes trying to build a stronger relationship with the tech community. Emily chang sat down with him. Emily joins us from mountain view, california. Emily, tell us all about the event. Mily the u. S. Defense secretary is meeting with a number of different Cyber Security c. E. O. S. And the real thing that he is trying to accomplish here is to rebuild the relationship between the pentagon and Silicon Valley to recruit engineers who want to work for the government to change...

Overall number in the law, the budget control act, requesting basically a little bit over 1 trillion. 1. 1 trillion as the law allows for. Within that number, he really departed from the budget control act numbers, and he requested a lot more for defense programs. About 54 billion for security related programs. And covers that with an equal amount of cuts in nondefense spending, 54 billion. So thats a violation of the budget control act there. But more than that, its very politically unpopular. Yes members really like the , defense spending increase, but they dont like taking it out of nondefe...

Good morning from the studio 57 newsroom at cbs headquarters here in new york. Good to be with you. Im annemarie green. At least eight people were killed when a man drove a truck down a crowded bike path in new york. Its the deadliest in new york since 9 11. The suspect Sayfullo Saipov is in serious condition after he was shot by police. He drove down the bike path for nearly a mile. He crashed into a school bus near the world trade center. He got out and yelled allahu akbar, god is great. Police believe he acted as a lone wolf and they say there is no evidence to suggest that this is part of ...

57 newsroom here in new york. Good to be with you. Im annemarie green. At least eight people were killed when a man drove a crowded truck down a bike path. Its the deadliest in new york since 9 11. The suspect sigh full lowe saipov is in sear use condition. He drove down the bike path for nearly a mile. He crashed into a bus near the world trade center. Police believe he acted as a lone wolf and they say there is no evidence to suggest that this is part of a wider plot. Hena doba is at the scene in manhattan with the very latest. Good morning, hena. Reporter good morning, annemarie. Law enforc...