caroline: richard clarida.g down two weeks early because of concerns of the way that they traded assets. sonali: how long-term will powell really get tomorrow in his testimony? romaine: for coverage tomorrow, thank you. ♪ >> there are a lot of ev's coming to market. do you think the market share explodes and there is room for everybody, or is there a specific market you are going after? >> from the heart of where innovation, money, and power collide in silicon valley and beyond, this is bloomberg technology with emily chang.

jon: what do we make a vice chair richard clarida to stepping down weeks early? lisa: making it easier for him to get a political path, in my opinion. the details will come out in terms of when he bought, when he sold. he sold the stock fund three days before a speech was delivered. before that, he bought that again. how much the timing was on a preset course, we will get the details but this is a political play into hearings. jon: chair powell should use pelosi's words, we are a free market economy and they should be able to participate. [laughter] you think that would work today if he used speaker pelosi's words? tom: to take the whole part here, it seems each story is different. i think everyone knows i'm close to the vice-chairman. we go way back. he will go back to columbia but i do not think he has to go back to columbia with his tail between his legs. it seems there was an odd thing in trading of three days but it is not trading. he is in a bundled fund, a big amount of money, the guy has made a lot of money. that is all there is to it. it is different tha

in command at the fed is stepping down early, amid criticism over some of his trades in 2020, richard claridaeek, his term wasn't due to expire until the end of january. clarida didn't exactly say why he is leaving early, but this news comes after clarida amended his financial disclosure forms over what he called inadvertent errors and shows that the 2020 trades went further than previously known. and bianna, and jim, on top of inflation and covid, powell will face questions about these trades. >> two other fed governors facing fire for trading, as well. matt egan, thank you. >> thank you for all of us for joining us today. we know there is a lot to keep up on. i'm jim sciutto. >> i'm bianna golodryga. "at this hour" with kate bolduan starts right now. >>> hello everyone, here's what we're aware are watching at this hour. the top covid advisers in the hot seat, top questions on capitol hill about the covid surge as hospitalizations hit a record high. boycotting biden. the president takes his campaign for voting rights protections to georgia. but some activists there say the time for speeches

she will be joined by richard clarida and the two of them in a course would be charged about the futurecs in the government. jonathan: do you want to go there? do you think he is going to teach an ethics class? tom: i don't know if you will teach an ethics class but he has lived one. ndp tradition of these institutions, they are trying to fit the new regulation, the new ethics everyone is getting with, including the presumptive vice chair of the fed. jonathan: i might enroll. would you be proud of that? tom: if you were in row 42 of professor cohen's class, you would be obnoxious. i can see it, professor, what about the twos-tens spread? jonathan: i think the 42nd row is too far forward for me. lisa abramowicz and tom fara -- and tom keene. yields on tens at 1.7 341. for our audience worldwide, pp a coming in line. a lift in the equity market. this bond market and this pricing, a big debate here. from new york, this is bloomberg. ♪ >> they are clear about the prospects of progress in these stocks. they expressed concern about the russian military buildup in and around ukraine and called

richard clarida's term only expires at the end of this month, and no details on why he's stepping downns during the onset of the pandemic. mr clarida was a key aide to fed chairmanjerome powell and his resignation comes at an awkward time. mr powell has been renominated to his position by president joe biden, and is set to face lawmakers in a confirmation hearing later today. to new york now where michelle fleury has more details on what we can expect. jerome powell's second term is not in doubt but before he can be confirmed, he must first face a grilling from lawmakers. top of their minds, what does the fed reserve planned to do to contain inflation? when jerome powell appeared before them during the summer he told them during the summer he told them it would be a mistake to react to one—time price increases in items such as used cars but by the end of the year his tune had changed and in fact to tame inflation american central bank has now pencilled in three rate hikes this year, hinting they could move as early as march. head of that, the fed reserve is shrinking boland holdings, t

they are not richard clarida to. they are not published monetary economist.lip jefferson owns the high ground on poverty. he wrote the very short introduction for oxford, which i have said for years are just great vehicles. why shouldn't we have someone in social economics on the committee of monetary policy? michael: we probably should, and the two will bring great diversity to the fed. lisa cook would be the first black woman ever appointed. jefferson would be only the fourth black man ever on the board. if both of them are confirmed, along with michelle bowman and lael brainard, the board would be majority female for the first time ever. there are going to be some bumps along the way. sarah bloom raskin already attracting fire because she has been outspoken on climate change when the fed was lending to companies act in the 2020 crisis. she said they should not lend to oil and gas companies. she said fossil fuels are a terrible investment. pat toomey on the banking committee, who's going to be in charge of her confirmation, has already come out with a sharp

meanwhile, vice chair richard clarida is set to resign to weeks before his term ands following new revelations that -- about his stock trading activities. let's bring in enda curran. that message to the market, a bit late, isn't it? enda: a little, but it is a doubling down on the new hawkins message -- hawkish message coming from the fed. like you say, he made the point they will make sure inflation does not become entrenched. he also made some broad observations on how the economy will emerge from the pandemic a little differently. you have to say, it doesn't lend further weight to the idea that the fed are on track to rate hike, presumably in this quarter. and the balance sheet perhaps shrinking. we know the market has made a big shift, yesterday goldman with calls for four rate hikes this year. i think the expectations are that the fed are heading for liftoff and chairman pal is backing this up -- chairman pal backing this up. dani: we learned clarinet will depart about two weeks early. how much of this is tied to concerns about ethics and trading in passive funds? enda: it is part of the

richard clarida announcing he'll be exiting his position this friday his term was set to expire at the end of the month the change comes days after additional disclosures around trades he made in february of 2020 those moves coming around the time the fed was preparing to out efforts to combat the pandemic >>> facebook's parent company meta is delaying plans to return to the company they planned to return to office for vaccinated employees at the end of the month now it slides to march 28th. and they'll require proof that employees have received a booster shot for their return. >>> tesla's highest ranking black leader has stepped down. he's left the ev maker for a new job. e he's been a prominent voice for the company on race issues and defending tesla as it faced controversies, including racism, in the last few years. back to you. >> big loss for tesla, big gain for somebody else. frank holland, thank you very much. >>> to this morning's top story and jay powell preparing for a day of testimony on capitol hill as the senate banking committee con considers his renomination to the seat

the federal reserve facing scrutiny over investments by top officials following a disclosure by richard claridat he sold at least $1 million worth of shares in a u.s. stock fund in february of 2020, right before the pandemic hit. he had previously revealed he bought a similar amount of that fund just before fed chairman jay powell's pandemic policy efforts by the central bank. the new revelation comes as his term is set to expire at the end of the month >>> moderna's ceo said a fourth vaccine shot could be a real possibility. speaking during goldman sachs' health care conference, he cited waning efficacy of current boosters against covid over time for the additional dose of the vaccine. he said that people who received their boosters this past fall will likely have enough protection, though, to get them through the winter >>> the ongoing headaches for air travelers continues. airlines canceling 1,000 flights for the 12th straight day yesterday that amid bad weather and crew members facing covid. however relief could be on the way. with the flight schedule easing after the holidays, january gene

richard clarida didn't say why, but he's been criticized for some stock trades he's made in the past.red of wrongdoing but he resigned. his now former boss jay powell will be in front of the senate today as he asks for approval of another term as fed chair. he will no doubt be asked about rate hikes. >>> and mortgage rates are up, a $350,000 house that is the american average will cost the average buyer $125 more a month today than if they bought it three weeks ago. multiply that number by three or four to get bay area prices. >>> and facebook has told its employees that it is moving its back to office date from this month to march. and any employee who does come back must show evidence of a booster shot. and a lot of corporations are going back home again. i think the key thing, don't set a target date. don't say we thought it was january and now it is march. just say to your employees that we don't know. >> we've had to learn to be very flexible. so we're apart but yet we're together. >> exactly. >> 6 feet or more. >> that's right. >>> apple reportedly is in talks to carry major lea

richard clarida didn't say why, but he has been criticized in the past for some stock trades he made. and an ethics committee cleared him of wrongdoing, but he has resigned. his former boss jay powell will be in front of the senate today as he asks for approval for another term as fed chair. no doubt that he will be asked about rate hikes and inflation. >>> speaking of rate hike, mortgage rates are up, cnbc calculates a $350,000 house, that is the american average, will cost the average buyer $125 more a month today than it would have if you bought it three weeks ago. you can multiply that by three, or maybe four, to get bay area prices. >>> and facebook has told its employees that it is moving its back to the office date from january, this month, to march. any employee who does come back must show proof of a booster shot. you know, we've talked about this before. companies that keep setting dates really are probably making a major mistake. i mean, we didn't expect to be back in the house work from home ourselves. but to set dates, okay, it is january, no, no, it is march. nobody know

the federal reserve board's vice chair richard clarida is resigning friday, 2 weeks before his term ends been criticized over stock trades he made in february of 2020, as the pandemic first threatened the world economy. he is the third fed official to resign over the issue. the irs announced today that federal income tax season will open more than 2 weeks early this year on january 24th. the agency says it needs extra time to cope with potential delays from the covid surge -- and less funding than it requested. several passings of note toght. comedian bob saget is being remembered for long-running stints on tv's "full house" and "america's funniest home videos" in the late 1980's and early '90's. he was found dead in his florida hotel on sunday. a generation grew up watching saget on "full house", seen here as a widowed father playing with one of his 3 young girls. bob: michelle breaks for the basket and goes right through my legs. she's going for that super-duper baby flying michelle score in your face. michelle: in your face. >> bob saget was 65 years old. also sunday dwne hickman tv's

. >> richard clarida is stepping down early announcing that the resignation takes effect january 14 theernor set to expish the end of this month he says that he is proud of the fed's rapid response to the pandemic he said it helped avert another great depression in conjunction with fiscal policy and said that he is confident once the process of reopening is complete there's maximum employment and price stability. so again, vice chair of the fed departing on january 14th. sara >> yeah. he came under fire for buying stock in february and a recent financial disclosure related to that thank you. jan, not where i was planning to start but breaking news. what is your take on clarida's early resignation? >> not a surprise. obviously we have the c confirmation hearings this week. no surprise in my view. >> jan, presumably then you don't feel the composition of the committee will be changed in a real way hiking four times this week as well as allowing the balance sheet to shrink. what's gone on in the last couple of months to get you to that place mostly the change in rhetoric from the fed parts

federal reserve vice chairmen richard clarida to resign two weeks to go in term cheryl casone with dialysisl we have seen resign over financial transactions at onset of pandemic remember as sitting federal reserve official announcement before fed chairman jerome powell confirmation hearings this morning lael brainard nominated to replace clarida, will be thursday. >> irs warning americans to get ready for frustrating tax season facing staffing shortages backlog returns from last year you can start filing january 24, that is two weeks earlier than last year, deadline april 18, three days later an normal, that is because -- observe emancipation day april 15 this year. he will embattled tennis starr djokovic resumdz training for australian open in australia after number one player won appeal to remain in the country after questions over his medical exemptions from covid vaccine, raised authorities investigating the travel declaration forms for discrepancies to raise positivesability visa could still be revoked could be a second time if it happens. the phrase go dogs, a lot today. for the first