sonali: thank you so much.e getting back to our core question, whether central banks can tame inflation without causing a recession per your we have the perfect person to talk about this after growing up in istanbul. bank of ireland's global markets head of inflation trading, semin soher power, is here. do you have faith in central banks when it comes to being able to curb inflation without taking us off this trajectory? semin: thanks for having me. yes, we still believe that market expectations for next year in terms of risk asset pricing and growth outlook is very positive because they are feeling pretty come people that growth will be above trend still, and there are enough savings to support consumers. at the same time, there are some downside risks as well. looking at the news we got with joe manchin not supporting the build back better plan and with some previous fiscal support measures about to expire next year as well, we are expecting contributions to u.s. growth to be negative next year, and also now,

sonali: guy: this week, you get get a -- sonali: this week, you couldn't get a table.ple are starting to work from home. guy: antony fatty is speaking. and omicron surge he says is inevitable. the aerospace ceo is joining us. the european closes, and it. that's all next. this is bloomberg. ♪ every day in business brings something new. so get the flexibility of the new mobile service designed for your small business. introducing comcast business mobile. you get the most reliable network with nationwide 5g included. and you can get unlimited data for just $30 per line per month when you get four lines or mix and match data options. available now for comcast business internet customers with no line-activation fees or term contract required. see if you can save by switching today. comcast business. powering possibilities. guy: we are wrapping up the friday session in europe. let me tell you where we are as we come into that close. negative. the map red across the continent. the ftse is up because astrazeneca is up. astrazeneca, the biggest cash stock in that market. the au

sonali: thank you both for your time. coming up, we will continue asking our question of the day, whether central banks can tame inflation without causing a recession. jordan jackson, j.p. morgan asset management global market strategist, joins us next. this is bloomberg. ♪ ritika: let's check in on the bloomberg first word news. merck's covid 19 pill received fda authorization. together, the treatments provide a new way to keep a sharp rise in infections from overwhelming u.s. hospitals. russian president vladimir putin urging the west to move quickly to meet russian demand for security guarantees to diffuse a standoff over ukraine. during the annual news conference today, putin warned that talks -- warned that he does not expect talks in geneva to produce quick results. >> it is not us threatening them. we did not come to the border of the united states or the united kingdom. no, get -- no, they came to our house come into our border, and they are saying we want ukraine to be part of us as well. and you want guarantees

sonali: have a great night.aylor: this is bloomberg. ♪ so, i started listening to audible about two years ago. a friend of mine recommended a book to me, and i got hooked really fast. and then it kind of just became a lifestyle after that. i've found new authors. i've found new interests. i've found all of these wonderful things. audible has all the entertainment you love. text listen4 to 500500 to get thirty days free. i like thrillers, true crime podcasts, news podcasts... science fiction, space dramas... a lot of classics. i listen almost exclusively to the audible originals. i also think it's pretty special that they get audiobooks that aren't released anywhere else. my friends listen to audible as well. i'll recommend a lot of things to them, especially the new sandman series. you can find things that will take you to new worlds. audible is a great escape. go anywhere you want. endless entertainment and education and content. for the best audio entertainmet and storytelling, text listen4 to 500500 to get th

sonali: i have a huge bone to pick with you. you wrote a scathing article three months ago basically calling the cfa program a sham. i emailed you livid and then you told me the cfa was a noun and it was an adjective. you want to comment? >> our member the email but he did not seem livid in the mail. he seemed very measured. i did not get the livid nest in the email. i don't apologize for the article. i do think it is a waste of time to taylor: ok. one of these days you're going to come on the program and we will duke it out. >> put up your dukes. caroline: bloomberg opinion columnist jared dillan. thank you for bringing your viewpoints and experiences. we look forward to the fight. going to continue. and well, so pleased we will be bringing you more of this. sometimes mixed feelings about the record run. talking about inequality across the economy, we are going to shift the tone on wall street are the cofounder of known holding is with us. this is bloomberg. ♪ taylor: today we are focused on the last year in wall street. on man

sonali: is new york the place that happens anymore?specially given miami creating such big competition? mike: i think it is going to. i have three young kids and they love living in new york. four young kids, i am to get yelled at. the city's booming -- the city is booming. young people want to be in the office. this city has been the mentor should city, the capital creation center -- the capital creation city. it is the magnet. it is not that miami and austin are not putting up a fight, but i don't think anybody will be to new york. -- will beat new york. matt: are you paying any of your employees? do people get bitcoin bonuses? mike: we have not yet. we have looked into it. there is a lot of operational stuff that is easy to fix. we will certainly look into it. most of our employees own crypto. i hope all of them own at least one nft. you cannot be in this industry and not care about it. we are hiring people. i used to kid around wearing a suit one day and a hoodie the next. you have to have the edginess of a revolutionary to be in c

>> sure, sonali. i think you kind of get at that main question that we ask corporate work and analysts struggle with constantly -- we ask corporate analysts or credit analysts struggle with constantly. you want to buy at a high instead of a low, the opposite of what we are taught, buy low, sell high, so a funny situation. that said, what hertz is doing is taking a page out of avis's book. they did share buybacks this year. so hertz and avis are kind of keeping in touch with one another, but hertz is definitely getting more of a reaction from, you know, senators and whoever else because of that meme element to it, because avis did not go through bankruptcy. it did not have that meme the following that drums of all interest in it and all sorts of headlines to keep the momentum going. romaine: at the end of the day, we are talking about a relatively old business -- old-school business. gamestop sells videogames, rental cars, movie theater chain. we are trying to make this sexy and like it is something ne

sonali: certainly get through it and in a positive way.oline: happy holidays, all as we wayfair well. have a great evening. this is bloomberg. ♪ this is elodia. she's a recording artist. 1 of 10 million people that comcast has connected to affordable internet in the last 10 years. and this is emmanuel, a future recording artist, and one of the millions of students we're connecting throughout the next 10. through projectup, comcast is committing $1 billion so millions more students, past... and present, can continue to get the tools they need to build a future of unlimited possibilities. >> from the heart of where innovation, money and power collide, in silicon valley and beyond, this is bloomberg technology with emily chang. taylor: this is a bloomberg technology. coming up in the next hour, the fda has cleared merck's covid pill for high-risk adults with no other treatment options.

sonali basak as usual, bringing us fantastic guests. thanks for that.ing up, the bank of canada keeping borrowing costs unchanged. we will discuss the move as inflation and omicron variant risks cloud economic recovery. we are joined by frances donald, chief economist of manulife investment. typically, she is on "real yield." we have stolen her from jonathan. she is out next. -- up next. this is bloomberg. >> has joined the united states, u.k. and australia in a diplomatic boycott over beijing winter olympic games. justin trudeau says canada is extremely concerned by the repeated human rights violations by the chinese government. athletes from the country will take part in the games but no government officials will attend. republicans are ramping up their efforts to roll back president biden's vaccine and testing mandates. the washington post reports indiana senator wants to roback the federal vaccine mandate -- roll back the federal vaccine mandate. it would take just 51 votes to revoke the mandate. the effort would face an uphill battle in the house o

sonali: there is some self-correcting.hey have taken on a tremendous amount of clients amid this consolidation. goldman, jp morgan, morgan stanley. they are being more discerning and taking a look at the leverage that clients are taking on. guy: thank you very much indeed, delivering this news for us and giving us an idea of what is going on. sonali basak, thank you very much. shares of chinese companies listed in the united states. they are dropping on concerns the white house is considering sanctions on china's largest chipmaker. we will talk about this next. as you can see, another chinese headline causing ripples. that is next. this is bloomberg. it's another day. and anything could happen. it could be the day you welcome 1,200 guests and all their devices. or it could be the day there's a cyberthreat. only comcast business' secure network solutions give you the power of sd-wan and advanced security integrated on our activecore platform so you can control your network from anywhere, anytime. it's network management red

sonali: right now it is anyone's best guest -- guest.oldman is saying that people have to be boosted by february 1 and test twice a week. they're trying to return as much to business normalcy but normal will look like it has a lot more rules around it as we try to guess -- get past this virus. a lot of restrictions we are seeing right now in terms of working from home were just through the holidays. you are going to see a lot more people say they want to work from home for longer. peter: as i think about bankers in new york who have been aggressive in terms of getting people back to the office and to the other side with citi taking a laissez-faire attitude. our seeing any impact of that at all? sonali: if you want to come into the office, and remember it is hard for young people to get a new job and not have the mentorship, and you have goldman that has a lot of investment banking and traders saying that you need to be in the office to be more competitive. it is hard to know whether it pays off or not. if you look at the numbers, goldman

for that, we have should ali bassett -- sonali basak. >> and expansive probe by the doj looking at anyancial relationships that may exist with hedge funds and research firms involving shortselling. were there any financial relationships, any positioning done in the run-up to the research published by these firms? some of these prominent firms and stocks are being treated -- traded include bank of california, some of the firms involved in this were anson funds. they have not yet commented to bloomberg. matt: thanks very much. looking forward to your continued coverage of this. for amanda lang, i'm matt miller. this is bloomberg. ♪ mark: but word is. the united states supreme court ruled texas abortion a biters -- providers can sue but allowing the law to remain in effect. the fifth u.s. circuit appeals has twice voted to allow enforcement of the ban and would renew the decision. the u.s. chamber of commerce is against bidens build back better plan. the business lobby released its statement after the consumer price index came out saying that congress should not add any more fuel to the i

sonali: is the u.k. a cautionary tale?any businesses having to shut down, pressure on the government. caroline: shut down myself. people are staying at home. what does that mean for the economy? that does it for "what'd you miss" stay well as we build to the holiday season. we are going to be discussing retail tomorrow and the supply chain headache. this is bloomberg. ♪ every day in business brings something new. so get the flexibility of the new mobile service designed for your small business. introducing comcast business mobile. you get the most reliable network with nationwide 5g included. and you can get unlimited data for just $30 per line per month when you get four lines or mix and match data options. available now for comcast business internet customers with no line-activation fees or term contract required. see if you can save by switching today. comcast business. powering possibilities. >> from the heart of where innovation, money and power collide, in silicon valley and beyond, this is bloomberg technology with

sonali: is it also a matter -- kailey: is it also a matter of re-shortening supply chains? >> the thing that is consistent across supply chains and the comments coming out of the fedex report, the workforce shortages are really dramatic. whether we talk about final delivery or warehouse staff, or the staff to unload tankers, working through the ports, the key issue will be the workforce. what we see in some of those nodes of the supply chain is automation. in warehouses, for example, autonomous trucks, things like that will be emerging in the next three to five years. the common theme across the inefficiencies and the challenges in the supply chain is the workforce. the increased wages will be attracting to some of these jobs but i think we've also heard some of these jobs are really challenging. amazon has certainly had their challenges with quality-of-life. there's no work from home in supply chain. we are working from home, driving vehicles. so to look through how we are optimizing those assets including the workforce is a very important part of the conversation. romaine

tom: that explains a lot about sonali. kailey: for the record, i had plenty of fun in college.han: i thought that was a very expensive private school, and it is also a party school? college in america is a confusing one, isn't it? up 14 on the s&p, advancing 0.3%. from new york, this is bloomberg. ♪ ritika: with the first word news, i'm ritika gupta. any report from south africa says that so far, the omicron variant has not led to a surge in hospitalizations. south africa is the epicenter of the outbreak of the new strain. president biden's chief medical advisor anthony foxx he says while it is early, it does not look like there's a great degree of severity caused by omicron. the u.s. reportedly will declare a diplomatic boycott of the beijing winter olympics. the decision not to send any u.s. officials to the games in february will be announced this week. the move would be largely symbolic. u.s. officials are likely to visit china anyway due to strict quarantine rules and clashes over human rights. saudi has raised prices in the u.s. and asia days after opec and its allies sur

sonali: it is pretty brutal -- alix: it is pretty brutal. erdogan fledging to extend turkey's rate, saying islam demands it. more with damian sassower. what does that mean? we have heard something like this before from erdogan. what can we expect now? damian: now is time to dust off the monetary dynamics of fibrin nation. hyperinflation is 50% month over month increase in inflation. when the stock market responds, that is what you have to start looking at. 50% month over month increases in inflation. inflation in turkey's 21% year-over-year. for that to register we need 12,975% inflation. that is defined as hyperinflation. the equity markets rolling over like that is the risk we are pointing at. the currency is continuing to depreciate. mohamed el-erian coming out openly against erdogan. it is unbelievable what we are seeing. 1825 on the lira, down 9% overnight and getting worse. guy: the financial system at the moment is just about holding up. what do cracks look like when they start to appear? where should we be looking for the system, for

. -- sonali basak.man sachs said employees must get booster shots which go step -- goes one step further. booster shots by february 1. we are seeing the things that want their employees back in the office, do more to make sure people are vaccinated fully as well as whatever they can to stop the spread indoors. jp morgan also had said employees really need to get vaccinated before coming in because it was not fair for people wearing masks in the building when so many people were already vaccinated, but let's see if they also go by the way of goldman sachs and requiring a booster. tim: banks are certainly doing things one way, but we have seen companies like apple and alphabet having put off their return to office. you talked to a lot of sources on wall street, how are banks feeling about this changing guidance? >> for the last year, we have seen all the banks take different courses. citigroup has been a lot slower to return people to the office as its neighbor, which is only blocks away. now they ask emp