assets. reynard in the spotlight. the fed governor was interviewed for the central bank's top job. plus, bitcoin hits new highs. it topped $68,000 amid a crypto rally. a warm welcome to the show. good to be back together again. the fed warned about risky assets and the perils we face. let's get to our correspondent. what do we know on the interview? >> well, our colleagues in d.c. are saying ms. brainard was interviewed, and it is confirmed that chairman powell will have competition for his job it's also something of a surprise because most economists have been locked on for a powell reappointment. this raises questions about that. president biden

strategist, thank you for being with us. i look at the warning from the fed and what alberto gallo says, that it is held together by pixie dust and we are on the last ride to neverland and it is a deeply negative rates that are the underpinning. are we at a perilous or precarious moment in equity markets? good morning. >> good morning, thank you for having me. our view is that actually the forward

manus: it is bloomberg daybreak: europe with manus cranny and dani burger. back to glasgow. carbon pricing topped the agenda for the day. former president barack obama imploring nations to work together. >> we are nowhere near where we need to be at. for starters, despite the progress paris represented, most countries have failed to meet the action plans they set six years ago. dani: our next guest believes that pricing carbon is the single most important thing we can do to address global warming. joining us now.

i do want to start with this basic idea. why is having a global carbon market crucial to reaching our climate goals? >> as you have said, we think pricing carbon is perhaps the single most effective thing we can do. it is not the only thing we can do. we need to change agriculture protect forests. pricing carbon has systemic effects, so it changes behavior. manus: good morning to you, eron . today kicks off the debate on carbon trading in glasgow. give our audience a sense of where that market is right now and what needs to be done to make it more efficient, i think it is under article 6 under the u.n. mandate. what needs to transform this market? >> article 6 is the article in

the paris agreement that deals with trading emissions so that emission reductions in one country can get traded to another country. the way the paris agreement works in terms of carbon pricing is that it is a disaggregated approach. carbon markets can flourish within countries, within regions, even within industries. we see in market in the eu, we see a carbon market in california we see a carbon market in the nort