tom: director lipton, we have a treat for you. we cannot do david -- david lipton if we do not drag ken rogoff into the conversation. ken: i think the imf has done a good job showing that you need a , fiscal monetary structure around this debate. on the structural side, do you feel very frustrated? the fiscal, they kind of here you. on the structural, i am not sure they do. david: we have devoted a lot of new work to that subject. we know that many in europe properly complain that when monetary policy holds up the economy, it simply creates room for policymakers to not take on the important structural reforms that they need to. but it is no answer to ask monetary policymakers not to act because others are not acting. we want to see a cooperative approach, not a noncooperative approach. one where everybody does their part. that will create a more balanced expansion and one that relies less on exchange rate change and diverting demand. on structural reform, we are trying to point out that it really matters which reforms you do, whether they have short

here's david lipton. david: monetary policy has been dealing too much of the way.ort has held up in of the major economies, it is really not enough to get the economy going again. the problem is not just cyclical and structural. the need for support a policy. -- there is need for support of policy. we asked for a three-pronged approach to try to strengthen the pace of global recovery and to try to ward off the downside risk, which we think is significant. >> has all the central-bank action, does it risked sowing the seeds for the next global shock or global crisis? david: i don't think so. it is very hard to be worried about the economy growing too strongly. moreover if it ever would happen, policy to be adjusted. the much greater risk is the slow growth continuing, the disinflation continues, and we have a hard time getting by writ economic growth in the world. look atn you wor your work on russia, what is your measurement of global instability at this moment? david: this is not a moment like 2008. we are not ringing alarm bells, but we think there ought to be som

we will speak with kenneth of harvard university, an imposing of the peterson institute, and david liptoninternational monetary fund. q&a,berg markets magazine, john with the managing director. good morning. ♪ morning, everyone. markets interesting and very nuanced. francine lacqua in london. i'm tom keene in new york. that's get to our bloomberg business flash. here's caroline. caroline: chinese consumer prices remained buoyant as food prices surged. the consumer price index was at 2.3% in march, matching february level. the producer price index posted its first month on month increase since 2013. italian officials and executives in the country's major banks are planning a fund to buy bankshares. the fund would help lenders tackle an estimated $410 billion in bad loans. people familiar with the plan say a final agreement could be reached this week. the record number of luxury homes planned in london is raising the prospect they may be forced to turn some into offices. plans are in the pipeline for 35,000 high-end properties worth almost $108 billion, but the surgeon supply comes as deman

and a conversation with david lipton, deputy manager of the imf, today, 2:00 p.m.-- maurice ochs fell tfeld.rice obs "bloomberg surveillance." ♪ show me movies with explosions. show me more like this. show me "previously watched." what's recommended for me. x1 makes it easy to find what blows you away. call or go online and switch to x1. only with xfinity. francine: this is "bloomberg surveillance." to bloombergaight "first word news" with nejra cehic. nehra: in india, seven people who fled after a weekend fire that killed at least 115 people have surrendered to face prosecution. the blaze was sparked by a legal fireworks where thousands were attending a religious festival and where the suspects were board members. 200 others are still hospitalized. texas senator ted cruz isn't and with hillary clinton in a matchup among married women who are likely general election voters. that is according to an online poll. against donald trump, clinton beats the new york rival 48% to 36%. since 1996, republican presidential candidates have won the married women vote, according

we speak to ken rogoff, david lipton, and adam posen on friday. ♪ francine: i am frenzy and likewisem keene is in new york. we have plenty of news -- i am francine lacqua in london. tom keene is in new york. here is nejra cehic. this company joins four other coal companies to seek bankruptcy as the industry endures its worst downturn in decades amid for environmental policies, a flood of cheap natural gas, and a glut that sent prices to 10 year lows. trading in peabody shares in new york was suspended immediately. jpmorgan has reduced headcount 30its asia-pacific unit, positions eliminated, or 5% of the jobs. the move comes as the bank tries to refocus staff on serving clients with higher investment thresholds. the bank reports earnings late this morning. more evidence of stabilization in the world's second-biggest economy. in --exports have jumped have jumped the most in a year as imports have narrowed. stocks rallied on the news. shipment's were up 11.5% in dollar terms in march from a year earlier, compared with a 25% slump in february. that is your "bloomberg business flash." fra

international economics tomorrow, harvard university, adam pozen, and the deputy managing director david liptonill be in conversation on the global economy. ♪ francine: i'm francine lacqua in london; tom keene is a new york. we have been talking so much about the boj and governor kuroda's movement. this is what we pick for our morning must listen. talkis after all of the about what mr. kuroda has done. atwas defending his policy columbia business school last night. have a listen. >> japan's economy still has some way to go, until the price ability target of 2% is achieved. there's no doubt that there has been a clear change in the inflation trend under the banks 's qb. e. e. francine: he believes the markets would have been much worse if they had not gone to negative territory. >> i guess he's always right; it could have been much worse. i really wonder whether central banks know what they are doing with negative rates, because they're potentially negative consequences for the real economy that could negatively affect the banking system. a negativeso have effect on people's confidence. individu