[000:00:00;00] ah algebra whenever you oh, so la monochrome, it's great to see. welcome to the content economic forum powered by bloomberg. some people say that they say globalization going on, but that prefer to think off every globalization, our accomplish speakers from heads of state to business and policy leaders will discuss evolving technology, education, culture, sustainability, and the impact on the economy.

ah, brazilian police say, a suspect has confessed to killing an indigenous expert and the british journalist in the amazon ah though i'm carried on to mrs. out, is there a lie from doha, with also coming up? the u. s. federal reserve tax inflation miss largest rate rise since 1994 signals more to come. a man accused of being at the u. s. capital attack, as allegedly seen the day before, taking photos inside the building, while tory, where the congressman israel teams up with egypt to supply it. more gas to europe, as a continent works to wean itself off russian energy. or we began that with breaking news out of brazil, where police say,

a suspect has confessed to killing 2 men who went missing in the amazon authorities . also say body parts have been found indigenous experts, bruno pereira and the british journalist dom phillips went missing. woven a week ago or more that speak to 1 o'clock he has, whose life for us in rio de janeiro, monica, take us through what the police have just said, what, what's actually happened? what's the latest? well, what happened was one of the 2 suspects. the one that was on that they detain, the more recently he confessed, they took him. he said that he had taken the 2 men. he said that they had a submerged their boat had killed them and taken them to bury them inside the forest are 3 kilometers inside the forest. that means to carry their bodies. you'd

have to go with a small canoe through these rivers. ah, after saying that after confessing the police accompanied the man to the site where he said that these are 2 people had been buried and there they found human remains . the police was just now just a couple of minutes ago saying that they were very sorry for what happened to the families of these 2 men, journalist dom phillips was writing a book about saving the amazon and indigenous expert. but a little bit, it was one of results most experienced people in an contacted tribes. they had been in their job id valley, which is a huge indigenous reservation is the size of morocco and home to the largest number of un contacted tribes. and are bruno was working with the indigenous people. the locals are to try and stop the illegal fishermen. poachers are

miners from invading their territories. he was helping them map this out. and he was travelling with dom phillips when these both men were ambushed according to the police and monica what, what's more or less likely to happen next in the investigation? well they say that they're now retrieving these remains are very carefully. they're going to be taken to a brazilian, the capital of brazil, they're going to be compared with the dna samples that were already taken from both men are just to be utterly sure and, and they have to, you know, get all the details of the investigation. but they said that this was a brutal murder and a big step in the investigation at least to have found the remains of after that. well, there are many people that are asking why it took so long. why this happened in this area?

because bruno had been telling authorities of what was going on here just before the trip said that he had been threaten, ah said that fishermen were shooting the indigenous patrol people. and this is an area where there's been an enormous ah increase of murders in this region. recently, all so the government has stopped funding very crucial organizations who are in charge of patrolling indigenous lands. so the next steps would be to get all the details of what exactly happened and to make sure that these remains belong to dom phillips and also to bruno video on a korean, our kia vat, thanks for the update live from rio de janeiro. now the u. s federal reserve has made its most aggressive upward move on interest rates and almost 30 years up at 3 quarters of one percent is trying to get on top of searching

inflation which is being driven by factors seen increasing as being out to the feds hands more the same is on the way we anticipate that ongoing rate increases will be appropriate. the pace of those changes will continue to depend on the incoming data and the evolving outlook for the economy. clearly, today's $75.00 basis point increase is an unusually large one. and i do not expect moves of his size to be common from the perspective of today, either of 50 basis point or a 75 basis point increase seems most likely at our next meeting. we will, however, make our decisions, meeting by meeting and will continue to communicate our thinking as clearly as we can. hardy, jo, castro has more now from the federal reserve in washington dc. this is a very aggressive move. as you were saying, this is the highest 11 time rate hike in 28 years in the us. and the goal here is to react to the alarming rate of inflation that we saw in a report just last week. now at 6.8 percent,

a historic high in the us federal board chair reserve board chair jerome. how will also called these extraordinarily challenging and uncertain times for the us economy. now, he has quite the challenge ahead of him. he's trying to cool down this roaring hot economy, i've raising that interest rate to lower the amount of money that's available in the economy, but he has to do so on the board has to do so without triggering a recession. there are some fear of that happening possibly next year, even in the u. s. according to some economists, how will did not predict that. he said that he and among the boards, releasing the economic projection for the next 3 years in the u. s. finding that by 2024 around then is when the u. s. economy may fall down to a healthier level where unemployment rate and the inflation rates are at the target

levels at the federal reserve was william lee is chief economist of the american institute. he joins us live from washington via skype. thanks for being with us. what simply then will this interest rate hike actually work? well, what really matters is whether or not people believe the fed has regained the initiative in taking control over inflation. in march, when the phone see release is 1st forecast of almost no change in growth and no change on rate. and as slight and slow decline the inflation rate down to 2 percent . all of the people in financial markets, it, my god, this is an immaculate dis, inflation. it's just cannot be credible. and since then, the fed has tried to regain the initiative and quickly gain it's credibility in being and inflation fighter. and right now the move that today's reserves decision represents is one where the fed has moved interest rates by enough to convince financial markets they're serious. they get to do whatever it takes to contain

inflation. and yes, if it causes the growth to slow down and possibly into a recession, which means 2 quarters of negative growth or the unemployment rates rises from 3 and a half percent to maybe $44.00 and a half percent. the fed says it's willing to do so because inflation is such a problem for current us citizens and global citizens. well yes. what about those recessionary fis, just how justified are they and, and how much pain could that cause? well actually we, we have a generation of people who have never experienced high inflation with slow growth. don't forget, we already have one quarter of negative growth. and right now, the best estimates that the atlanta fed has come up with for the 2nd quarter, g d p is exactly 0, g d p is stalling in the 2nd quarter. so we're really on the edge of a technical recession. and yet, the unemployment rate is the lowest in the history of the time series. it's, and there are 2 openings, job openings for every unemployed person. so it doesn't feel like a real recession,

even though people seem to be talking about the imminent recession, how terrible it is right now. a lot of people have jobs and a lot of jobs are available, and vacancies are going on field. the u. s. central bank isn't to lose it when it comes to raising interest rates at the moment. oh, actually not. in fact to give you an example of, of the e. c. b in europe is an example where they did not act fast enough of madame the guards press conference and said that we're going to be raising rates, but we're not going to do it until our next meeting. and what happened. the euro started to appreciate the interest rates in italy and greece started to, to blow out. and people started losing belief that the c v will contain inflation in europe, which by the way, is much worse than it is united states. so i think church or paul has done exactly the right thing by emphasizing to the rest of the world and to us investors and

financial markets and us citizens. the man in the street, we are serious about containing inflation. we're going to do whatever it takes. ok, william the chief economist of american institute. thanks for your insights here today. that's rather me or the us house committee investigation, a capital riots is released a video of a tool that by republican congressman the day before the attacks. the committee says the man who participated in the tool can be seen taking pictures of tunnels and stairwells in the capital building. it says the same magnet turned during the insurrection. congressmen barry loudermilk denies any wrong doing, adding that he's been vindicated by police. these are folks who had never been in washington dc and there they were here to visit their congressman. why not to speak to the committee? and just because the committees never called me and asked me anything, they said a letter corporation, they never sent it to me. your office never know, never, never received a letter, never received

a phone call. never received an email. they sent to you guys. i found out about it all my way to the airport a month ago. so when i get on the plane, i see my picture on tv screens. all the plane is some kind of evil conspirator. that tells me they're not interested in the tree for only interested in creating a narrative for you guys. but bruce fine served as a us associate deputy attorney general. he gave us his take on laudermill, not appearing before the committee. it seems suspicious that you need a subpoena for a member of congress to want to volunteer everything he knew that was arguably relevant to the investigation. why do you need a subpoena? your member of congress is supposed to be upholding and defending the constitution . you should be volunteering like a good samaritan, everything you know that the climax reading is going to be on the testimony in evidence regarding mr. trump's interactions with mike pence, the vice president trying to browbeat him exordium,

threatened him menace him if he didn't violate the 12th amendment and declined to count state certified electoral votes ahead, survived over 60 court challenges because on that score, mr. trump is coming close to having engaged in insurrection. so all those things are critical because if it is show that there was this clear and opened a notorious effort to resort to threats, to try to get mr. pants to violate the 12th amendment. mr. trump would be in jeopardy of disqualification for running in 2024. under section 3 of the 14th amendment was to the head to her now to sierra, with americans paying a lot more for fuel than they did it just a few weeks ago. present, joe biden sends a letter to all produces demanding answers. and in the shock of war, the long search ukraine's missing people begins.

ah, judy has begun the faithful world copies on its way to the castle. wookey will travel package today. over the past few weeks about it will go on for a closer look in one sack. but there's our monsoon rains falling that's now entered the good rides and it stretches rate down that west coast. ok promise you we will go in for a closer look toward the far northeast of india. this is not good news. dark of the color, the more intense the rain is falling. and again, in some spots here, we've picked up a meter of rain over the last little while and still more to come. for se, asia, it's looking like this. waves of rain really moving west to east, so it's going to blanket borneo and rank. it helps it with frame for central java on thursday. now to china, the plum rains are seasonal rains really concentrated over the pearl river valley,

so it's suspects we'll see some flooding there. and certainly we have in one dung province also north of that and who nan province. but dr for the yang, super valley and the yellow river valley. hot sunshine here shall jo at 40 degrees and will end this weather report in japan where the main island of han you. okay, we got a week band of showers here. the same goes for whole cato and those conditions will begin to improve in beijing with a height 29 degrees on thursday. that's it. that's all say, soon cas, airway official airline of the journey. investigative journalism. my role in this, by quite the information of global experts and discussion the pandemic didn't create all of these problems. it showed us our true color voices from different corners. we don't need this information like how we build these stories. what journalists bed is, look at the heart of the story, programs that open your eyes to an alternative view that the world today,

ah analogy ah, ah, the me. without a reminder of our headlines, this place in brazil suspect has confessed to killing 2 men who went missing an amazon authorities also say body parts have been found. isn't this expert bruno premera and british journalist don't? phillips went missing within a week ago. the u. s. federal reserve has announced the interest rate rise of no point. 75 percent tried to curb scoring inflation increases the largest almost 3 decades fed said the current economic climate is extraordinarily challenging. an

uncertain us house commit to investigating the capitol hill riot says a man he wasn't a tour of the building. just the day before the attack returned on the day of the insurrection committee has released the video of the tool, which was organized by republican congressmen who denies wrong doing for the past decade, every year has seen a record number of people forced to flee their homes of this year is different new record for displacement above 100000000. for the 1st time, the un refugee agency says the pace and scale of the crisis is out pacing solutions . the biggest driving factor right now is to warn you crane, which is triggered to one of the largest force displacements since world war 2. but there are glimmers of hope. 5.7000000 people returned to their countries of origin in 2021. despite this for the program d, the united nations high commissioner for refugees says we're witnessing

a worsening crisis. new conflict emerge. old conflicts are not resolved. and because the causes that push people to flee are becoming more and more complex. ab violence, persecution, human rights violations, but also m to an extent, climates, extreme climate phenomena, and the climate change inequalities. even the pandemic, everything conspires to make the situation very difficult for people in certain countries and their only option is to flee. and there, this is why we've seen this figure grow year after year and reach now more than a 100000000 people. the still almost 6000000 syrian refugees in the middle east. i've just come back from bangladesh. we're in a tiny and very fragile area of the country. 1000000 refugees from member of the ro

hinge community have been living for the past few years and the list is very, very long. so the size, the complexity, the difficulty of finding solutions. all of this illustrates the, the, the nature of the problem we're dealing with. a frantic rush for safety in ukraine has left people scattered across the country, wondering if missing, loved ones are still alive. shall stratford reports not from cave julia ludmilla escaped the russian bombardment of mary opal. on march the 19th. over the next few days, they risked their lives 3 times, driving back into the city, breathing, bullets, shells, and airstrikes in a desperate attempt to find the father of their family. 61 year old, all exams, philip ankle, they fear. he never made it out for you. it is when we were driving, there were russians on one side, ukrainians on the other, and they were shooting,

says yulu, how are you that we were in the middle? it was terrifying those up, but we were determined to get dad and the family used to live nearby as of steel plumbed, where an estimated 2500 ukrainian soldiers and civilians were trapped for weeks. as the fighting intensified, they fled to a basement under a block of plants in the city center. on the day they escaped, the shilling was intense, and alexander never made it from the basement to the waiting civilian car. we were sure he knew we would come back for him, says mila. and he would wait for us in the basement allah! a few days later they returned to where they had last seen. all examined the mother . we saw all the buildings were burns and destroyed with miller, and there was no one there. luke, mila, and newly. his story is not uncommon. the united nations estimates that russia's invasion has forced more than 12000000 people to flee their homes. the ukrainian

government says thousands of them a searching for friends and loved ones, missing, fed dead, and chuckled. nicole boys, a psychologist, volunteering, has a sense of helping some of the 10s of thousands of people from mary awful fled to the ukrainian control side of you. today. i had a lady whose husband was killed in front of shaw and she asked me, why did i survive? she like so many is deeply disturbed, constantly breaking down and refusing to accept what has happened with families who come to this sense receive food parcels. once every 2 weeks, children play while their parents register, until their stories to volunteers on the re used to work at the as of style plants as a liaison operator, he says he left many friends behind mother support anymore. so i think they are more sympathetic to the occupiers yet, that do they call me and ask when are you coming back? but i will never return with russians in control. anastasio was

a social worker in mary oh pool. before the war. she struggles to hold back, her tears said, i be upset. i told him that we all lost friends. they're gone forever. in my case, it would have been death or captivating because i refuse to work under the occupiers. i don't know if i will ever see my city again. 7 died. the ukrainian government accuses russia forcing tens of thousands of people from mariel into russia and accusation. russia denies eula and louis miller say their only hope is that all examiner is still alive. cha, stratford al jazeera cave, egypt and israel will exports more natural gas to the e. u. u. a pin commission chief us live on denial, described the deal as a special moment in the continents efforts to win itself off. russian energy, bernard smith, reports from western recent. the israel sits on about 0 point one percent of global gas reserves. not much,

but the european union is looking everywhere it can to reduce its reliance on russian gas. so egypt already taking in 26 percent of israel gas production will start liquefying more at its to mediterranean plants. it'll trim just a few percent of the 40 percent of gas, the e u bies from russia. this is a quick fix. it's not going to store the whole thing. i mean, if you look at the, their capacity in the system, on the israeli, in digital, it's something like 678 percent of what we are receiving from much. and so if it is a small step, but we need other steps, we did noise ratio next more infrastructure could be bit. israel had frozen gas exploration as it try to meet renewable energy targets. but the search will turn it in to russian fuel. as off of the israeli government to lucrative an opportunity to turn down the e. u is also committed to moving away from fossil fuels. at the signing ceremony in cairo, the

e u commission president suggested there was long term interest in partnering with countries to its south and east. it is for us, very important also to look forward into the new forms of energy. and these are, of course, the renewable energies. and here, i must say you are in a very lucky position. as you have the resources that are necessary for renewable energy in abundance, the sun, the wind. so these will be the energies of the future and the demand will be enormous. israeli gas is sent to cairo through the arab gas pipeline. it was designed to pump gas the other way from egypt to jordan, syria, and lebanon. but egypt uses its own gas now, but domestic needs. egypt wants to become a regional hub for the gas trade. and israel can help that happen. but it'll be

a couple of years before your repeat and start using significant amounts of israeli gas, as there are challenges and increasing production capacity to cope with the new demand . bernard smith, al jazeera west jerusalem, us president joe biden has asked all responders to explain why they're not putting more fuel on the market. he's a keys, johns, like exxon mobility chevron of dragging their feet while enjoying bumper prophets y dot correspondence. kimberly how could report sticker shock at the pumps as millions of americans fuel up for the summer vacation driving season. that's why president joe biden on wednesday, sent a letter to the 7 major u. s. oil companies pressuring them to increase oil production to lower prices. by didn't, right, my administration is prepared to use all reasonable and appropriate federal government tools and emergency authorities to increase refinery capacity to ensure

that every region of this country is appropriately supplied. currently, us oil companies are refining $1000000.00 less barrels a day compared to pre covet levels. western sanctions and russia over its invasion of ukraine means the u. s. is also not importing russian oil that's led to less supply. as americans return to work from the pandemic, driving up prices, the bond ministration hasn't revealed how it will increase supply. instead, it accuses the oil companies of exploit and consumers for record profits. biden hasn't ruled out a surtax on those gains. he's asked his energy secretary to hold an emergency meeting with oil producers market. we're not against profit. it's just that when you have 225 percent increase in profit year over year in q in quarter one. when it just tells you something else is going on,

the oil companies blame biden for the problem, arguing his climate change agenda, bam, on federal land drilling, and the cancellation of the keystone pipeline have led to oil refining stream biden, to release oil from the strategic petroleum reserve to bring down prices. it's a tool he's already used, but it's a temporary fix is simply an attempt to play for the voters to show that politicians are doing something about a market situation in which there's actually very little that they or anybody else can do. finance letter comes one day after announcing he'll meet with the saudi king next month to encourage his kingdom to also boost production. but the white house says the kingdom has provided no assurances. it will do so. president biden need to contain fuel prices quickly. the longer american face hardship, the more likely they are to vote against his democratic party,

an upcoming november congressional election. kimberly held him al jazeera, the white house. any journalist has died in the bombing of n. newman had diaries, vehicle exploded while he was on a main road near the city of aidan. he worked in the ministry of information and was also a new producer for foreign channel. the biden administration has reiterated its calls for fare and thorough investigation. as the king of al jazeera june history and the palestinian american was shot dead by ready forces while reporting and occupied west bank. well may. the 11th president, joe, by no means israeli and palestinian leaders when he travels to the middle east next month. what we want is obviously for this to be fully investigated and if there needs to be accountability had accountability had at the end of that investigation, we've called for thorough complete, transparent investigations into her death. and we're going to be watching this very, very closely. i don't have any additional details on what an independent

investigation would look like. i just don't have that for you today. but i don't want you to walk away thinking that we don't want this fully investigated. and for that investigation to be thorough and transparent. the former head of an aide organization garza has been convicted of terrorism charge is bon is rarely caught ahmed. be was accused of diverting millions of dollars to her mass working is gone for director in social charity. well, he's been in detention since arrest in 2016. has always protested his innocence. the management of plastic waste is one of the world's most urgent environmental challenges. scientists think they found an answer. the species of worm to the wolf, exclaims, scientists in australia say this super warm may prove crucial and scaling back some of the damage done by humans who have made a toxic mark on humanity. i think it's

a very good coverage for us because nobody started it. we didn't know if the civil goals could actually do do what we want them to do. it's a great, that's a good outcome. originally from central and south america, the super warm grows to more than 5 centimeters in length and is often used for pet food. this group of scientists found the species took a particular liking toward polystyrene. one of the most common types of plastic super worms, peculiar appetite, potentially playing a pivotal role in reducing waste. one could theoretically half like a few 100000 super forms in a, in a big a big building right to let them degraded. but that doesn't worry well. so we want to correct, right? the enzyme better than reproducing in the lab and then have like an enzyme cocktail . so then we can, at some point, scale it's like in a step they hope will be in the right direction toward the healthier planet on land