Live from the Nasdaq Marketside, overlooking New York City's Times Square, this is Bass

Money I'm Melissa Lee.

Tonight's straighter lineup, Guy Dummy, Tim Seymour, Karen Finerman, and Dan Nathan.

Tonight on a fast social dilemma, Facebook pausing plans for a kid version of Instagram

as pressure mounts that the platform is too toxic to teens.

We'll break down the fallout and what it means for the company's bottom line.

Plus, lights out, power problems, plaguing China, forcing factories to shut down.

How this could add even more pain to the global supply chain.

And later, energy stocks in rally mode, the XLEETF soaring three and a half percent

today, we will drill down on what is behind this big move.

We start off with breaking news on the Fed and new fallout to that stock trading controversy.

Let's get to Steve Leesman with all the details.

Hi, Steve.

Melissa, thank you.

Two Federal Reserve presidents who were the subject of a conflict of interest controversy

at the Fed announcing plans to retire today on the eve of Fed share, Jay Powell's testimony

before Congress, Dallas Fed president, Robert Kaplan, saying he will retire October 8th.

His financial disclosure showed multiple multi-million dollar trades.

Throughout the year, an individual stocks that some said created the appearance of a conflict

of interest Kaplan, who headed the bank for the past six years, insisted he did not

violate the Fed's code of conduct.

The former Goldman Sachs executive said, quote, the recent focus on my financial disclosure

...