ambassador to china joining bloomberg television. oomberg. ♪ keeping up-to-date with news from around the world, here's the first word. in the u.k., rishi sunak is bound to cut personal taxes. rival liz truss's campaign -- she is ahead of him in the contest to succeed boris johnson as prime minister and party leader. postal ballots started arriving today. the winner will be announced. house speaker nancy pelosi plans to visit taiwan despite warnings from china that there would be consequences if she does so. pelosi visit would be a landmark move by u.s. officials and raise the likelihood of a military confrontation since china claims taiwan to be part of china. global news 24 hours a day on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. i'm took a group to. this is bloomberg. kailey: let's get more on pelosi's trip to taiwan. working under the assumption that nancy pelosi will travel to taiwan tomorrow, how do you think that's going to go down? >> i think this is an example of

mark: he spoke with bloomberg television today. global news 24 hours a day, on-air and at quicktake, powered by more than 2700 journalists and analysts in over 120 countries. this is bloomberg. ♪ kriti: pinterest is due to report is earnings. the shares are higher today. it has fallen more than 45%. this year. the platform has been feeling the pressure on digital ad pricing. and no user growth -- and low user growth. ed ludlow is also getting married, i bet he is using pinterest quite a bit. >> pinterest is interesting. we have seen deceleration in topline growth and a worsening. the big difference with pinterest is that they make less money per user than their peers. there is a gap in that. the topline growth, 8.5%. we want to know what the outlook is in the second half of the year. kriti: they are undergoing new management as well. >> a new ceo, a former google executive. he will give it to video and they want to see how that change in execution can help get this company back on track. i think that there is a lot of excitement on

as we get more information, we will share it with you right here on bloomberg television. we are joined now from jackson hole. this is the policy correspondent from jackson hole who has been all over this howell news. thank you for joining us. it is still a stunning view it let's talk about what we learn. he has been saying this nonstop. they are going hard on inflation. is anything change? >> was seems to have changed is the market finally got the message. they've been saying, as pointed out, it was going to raise rates, and we are not going to immediately start cutting rates, and we will go to a restrictive level and stay there for a while. many people, particularly in the markets, they didn't seem to believe him, so today, he said his message would be short and direct, and it was. there was pain in the economy, but we knew it would bring inflation down, so a sickly, they did whatever it took it we seen equity and bond market reaction, but when you look at the futures, they are still rising in 2023. we will have to see the data come in as the fed has its next meeting. wh

speaking to bloomberg television, marty

speaking to bloomberg television, marty walsh echoed that sentiment. >> most of the economy has recovered. companies are all returned, so it shows good gains. we have good wage growth. there good areas with manufacturing for that is one of the areas not just coming back pre-pandemic, but beyond that. >> u.s. secretary of state marty walsh -- antony blinken, and a russian foreign minister say they are willing to talk about a prisoner swap involving wnba star brittany greiner and other jailed americans. the diplomat spoke on a sideline in cambodia. a day after a court sentence them on drug charges. the president called this unacceptable. global news, on-air, and on quicktake, powered by 2700 journalists and analysts in on -- in over 120 countries. i am mark crumpton. this is bloomberg. >> welcome to bloomberg markets. >> as we always say on this program, we have to get it quick check on these markets. as you can see, some of the big lows of the session came after that jobs report. since then, we are climbing our way back it we are on the s&p, and nasdaq is the big underperformer. it gives a

coming up, the ceo joining bloomberg television. this is bloomberg.eping up to date around the world. donald trump is betraying himself as a political victim today, being mistreated by democrats who don't one him to run for president. federal investigators searched his home in mar-a-lago. he may have taken classified documents from the white house when he left office. he was in new york during the search. in south korea, one of the heaviest rain storms has left people missing. it caused blackouts. the rain is forecast to thursday. serena williams plans to retire from the sport after plane in the u.s. open. she has 123 clarence lam titles and almost $100 million in prize money. she and her husband want to have their child and she was to do other things. global news 24 hours a day, on air and on bloomberg quicktake, powered by 2700 journalists and analysts in more than 120 countries. this is bloomberg. katie: wall street is looking to the cpi report for clarity on the fed going forward. >> the fed has a lot more work to do. >> they are behind the curve

tom: we will see, we are monitoring the plane and we will have coverage of this on bloomberg television and bloomberg radio. please stay with us. teachers, -28. this is bloomberg, good morning. --futures, -28. jonathan: headline risk in taiwan. good morning, good morning. some risk aversion, equities lower. the countdown to the open starts right now. >> everything you need to get rid -- ready for the start of u.s. trading. this is bloomberg markets: the open with jonathan ferro. jonathan: live from new york city, we begin with the big issues. looking for speaker pelosi to touchdown in taiwan in the next hour, escalating tensions with china and prompting a swift response from the china's foreign minister

david: from bloomberg world headquarters to our television and radio audiences welcome to balance ofe approach the end of august there's one big event the symposium in jackson hole and remarks we expect to hear 10:00 eastern from jay powell as he addresses the markets and they cannot decide whether they have to deal with inflation or can relax a bit. we welcome someone who will be there, michael mckee. what is he facing? >> he will face a

coming up, the treasury secretary joining bloomberg television at 12:00 noon time. is bloomberg. and keeping you up-to-date with news from around the world, in eastern kentucky, the death toll from massive flooding has now risen to 28. the state says more fatalities are expected as rescue and recovery effort go through more inches of rain. president biden is isolating of the white house after testing positive again for covid. he has a rebound case that is seen in people taking the antiviral drug. the white house of the president is not experiencing any symptoms. and multiple reports that quarterback deshaun watson has been suspended for six games for violating the nfl personal conduct policy. two dozen women accused him of sexual misconduct. the league wanted a longer suspension and can still appeal. global news 24 hours a day on air and on bloomberg quicktake. powered by more than 2700 journalists and analysts in more than 120 countries. >> climate and -- spending difference would -- the energy sector. energy is having to deal with soaring inflation. with us now is

coming up, jon zimmer, the cofounder joining bloomberg television. don't miss it. bloomberg. kailey: shares of draftkings are surging. the stock up nearly 11% after it released second-quarter results today, raising its revenue forecast as he keeps signing up new gamblers. joining the test joining us is ceo jason robins. say you are not seeing any impact on users despite a weakening in the economy. the jobs report today models that. do you expect that to kick in at some point? jason: i don't think so. gaming is historically resilient to any macroeconomic conditions. our expectation is we will continue to see healthy cohorts. so for everything in the data, we looked at it and number of ways -- active, the quincy of play, average bet size -- and everything looks great. guy: what is the relationship between sports betting and the stock market and sports betting and crypto? jason: i think there is certainly a lot of overlap amongst people who are interested in those things. the stock market is a massive -- you know, has a massive audience. it is on the institutional side

eastern time right here on bloomberg television. it for this edition of bloomberg technology. don't forget to check out our podcast. find it wherever you get your podcasts. i'm emily chang in san francisco. this is bloomberg. ♪ millions have made the switch from the big three to xfinity mobile. that means millions are saving hundreds a year on their wireless bill. and all of those millions are on the nation's most reliable 5g network and most recommended wireless carrier. that's a whole lot of happy campers out there. and it's never too late to join them. get $450 off any new purchase of an eligible samsung device with xfinity mobile. or add a line to your plan today at xfinitymobile.com

coming up, the airbnb ceo joins bloomberg television. this is bloomberg.e bank of england is expected to push through its biggest rate hike in 27 years tomorrow and expected to unveil its strategy for unwinding the stimulus further. joining us is the president of the piece of institute for international economics, a voting member of the bank of england from 2009 to 2012. adam, how hard is the bank of england going have to go? the national institute for social research had a report out earlier on that talked about astronomic inflation being an issue in the u.k. they talked about rpi going circa 18%. what you think of that report and how do you think the bank of england needs to respond? >> just turning up the volume, the better to hear you with, guide. it is solid but more solid on the policy recommendations, fiscal and monetary then thinking of a specific number. it is their job to forecast. i don't like the adjective astounding, but they are right that the bank of england is facing historically unprecedented for decades since there has been an inflation t

eastern time right here on bloomberg television. sn't for this edition of bloomberg technology. john we will join us to talk about the latest avalanche and the crypto downturn. ♪ how will your business adapt to change? you could hire an office full of peyton mannings. what's up, peyton? good morning, peyton. hold for peyton. they'd huddle.... welcome to the peytonverse. such a visionary. game plan... you go. no, you go! and call audibles... double our investment in omaha! omaha! omaha! omaha! or you could use workday. omaha. the finance, hr and planning system used by over half of the fortune 500. for a be-agile-like-an-mvp world. workday. for a changing world. millions have made the switch from the big three to xfinity mobile. that means millions are saving hundreds a year on their wireless bill. and all of those millions are on the nation's most reliable 5g network and most recommended wireless carrier. that's a whole lot of happy campers out there. and it's never too late to join them. get $450 off any new purchase of an eligible

we are hearing from some analysts talking to bloomberg television earlier this morning that they expectend increase later this year. aramco did give bonus shares out to investors but that was a small bump. some investors may be looking for more information about what the dividend policy is -- could aramco increase that? the fact that they have brought down debt, they are not going to be maxing out on what they could have done on investments so that may give them a little more room. we will see what aramco management says to investors and analysts in a call later on today. francine: thank you so much, our bloomberg middle east energy reporter. let's get straight to the first word news. laura: china's central bank has unexpectedly cut its key interest rates as it ramps up support for the economy weighed down by covid lockdowns. the need for additional stimulus was underscored by official data shortly afterwards showing retail investment and production down for july missing estimates. water levels on the rhine river are expected to steady an end extremely low level this week adding to euro

they have also failed in that area as well as in analysis so take a look at what he told bloomberg televisionlier. >> i know what they should do. they should not blink. i think it is very difficult to call this fed. this fed has failed at analysis, validate forecast, failed at communication. it is very difficult to say with this fed is going to do. it is easier to say what it should do but harder to say what it is going to do. this is the disconnect you have been talking about between the markets on the fed. >> that will be the kind of question everyone is hoping to hear jay powell address more clearly. that big speech tomorrow morning in jackson hole. esther george like other investors is warning that when we start that quantitative tighten, it is going to accelerate and that will also affect the pace, the degree of monetary policy tightening. request that is right. it is something that is starting to turn now. bridgewater associates say we could see up to 25% jump in asset prices. because of the impact of higher rates, we will see economic growth going down. if you are expecting any big mov

federal reserve board member joining bloomberg television. you up today with news around the world. the u.s. and taiwan following through a long time promise to deepen ties despite opposition from china. they will start formal talks, trade and economic petition this fall. traders are betting the bank of england key rate will take over the concern print questions on whether the key borrowing weight will be one year and three years from now have overtaken the u.s. equivalent spring the pricing was triggered by hotter than expected u.k. inflation data wednesday. more legal problems for former president trump. allen weisselberg is expected to plead guilty to tax fraud. he will not a book in the former will -- former president but will be required to testify against the company. global news 24 hours a day on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta, this is bloomberg. alix: we will get back to the data from the top of the hour. as expected, home sales came up he

he told bloomberg television at new measures are coming. homes and businesses scope with soaring energy bills. >> gas as a way of getting back at us, germany and the rest of europe the gas supply -- europe the gas supply and that is something that is weaponized. we have to remain resilient. the ukrainian people are facing a really tough time. illegal invasion of their country. we have to make sure that back home in the u.k., people have the help that they need. we have 37,000,000,000 pounds we put to work to help people, everybody gets 400 pounds off of their energy bill from october through december. that effectively solved the increase that is coming through the price cap. we know that we need to do more, by december and january and into next year, this bill will probably go up further. i am preparing options for the new, incoming prime minister to do even more. actually, what we ought to do is work together to make sure that the markets remain functioning and stable. we have to make sure that we coordinate with our allies including the u

a very big interview as well on bloomberg television. >> very much looking forward to that conversation. we do want to know about the economic outlook and what he sees in the broader market. this as we saw that manufacturing print in new york plunging by the second most. data going back to 2001. we are talking about the empire manufacturing print and what that might mean about the slowdown we are seeing on the sector and more broadly across the world as well. >> we keep talking about whether the session is the only clear -- whether recession is the only cure for inflation. inflation may be continuing to run rampant and out of control. the fed funds rate should be going well above 4.5 or 5% to really push inflation. if that doesn't happen, we will get unhinged inflation expectations. a great deal of ambiguity when it comes to that front. u.s. equities rose for a second day in a row. with the economic growth in china, u.s. crude is sitting at $90 a barrel followed by a drop in copper as far as -- copper and other metals as well. let me start off with you. even morgan stanley, jp morgan ca

coming up, the president of the american action form joining bloomberg television. bloomberg. keeping you up-to-date with news from around the world, here is the first word. volodymyr zelenskyy says russia lost nine fighter planes in explosions that rocked an airbase in crimea. russia denies ukrainian attacks caused losses, but ukrainian special forces attacked the airfield. the international energy agency says there is little chance that opec will -- supply more oil. >> urgency on the demand side most of this is also something that steelquick is factoring in. they are worried about capacities. it is basically saudi arabia and the uae that is holding any substantial amount of spare capacity. the iea has stressed we have a lot of american -- we have a lot of emergency stocks in countries. ritika: the iea says their hike promised in september is largely symbolic. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i make you go to. this is bloomberg. alix: the iea also said crude de

coming up, the former prime minister abe australia doing bloomberg television at 12:30 p.m. e. this is bloomberg. ♪ alix: ritika: there's a report amongst the items the fbi agent search for at donald trump's florida home were classified documents related to nuclear weapons. people familiar with the investigation did not say of the documents were found. the former president has called for the release of the search warrant. the justice department has asked a court for the papers to be unsealed. president biden is set to launch is real affection -- election campaign after the midterm elections. he is encouraged by recent economic and foreign policy successes. the polls show most democrats have another candidate. in the u.k., the economy shrank in the second quarter for the first time since the pandemic. the gross domestic product fell .1%. retail sales and a drop in household consumption where factors. global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i am ritika gupta. guy: thank you ve

secretary of labor marty walsh will be joining jonathan ferro on bloomberg television. tom: how come he doesn't come on earlier? lisa: i'm curious to see how they tape a message roundness. especially because they have to basically say a softening is required in order to get inflation down, but the message always has to be, we want people to be employed, we want people to be paid. jonathan: tom, he cannot come on earlier. has to wait an hour for the payroll support to come out to talk about the payrolls report. you know the rules. tom: yeah, ok. thank you for reminding me. jonathan: good, good. hsbc, they have added to this. they say it is time to ditch stocks. barclays says the goldilocks narrative seems misplaced. every rally is built on wishful thinking. it is just whether that is misplaced or not. peter oppenheimer joins us to answer that question. up me out. wishful thinking, misplaced or not? peter: i think it is. you have seen a significant pullback in interest rates, and the market seems to be were convinced that inflation is closer to ap. given that rates are ri

just moments ago, the labor secretary was on bloomberg television. here is his reaction. >> most of the economy has recovered. the jobs that companies had it pre-pandemic have returned. it shows good gains. we have had good wage growth. manufacturing is one of those areas where we have seen this come back. kailey: let's dive into the numbers. blowing it out of the water in so many ways. mike: it's like going into a restaurant and the portion comes huge. are we supposed to eat that? 528 thousand jobs created, 250 was the forecast. it's much higher than the 398,000 we saw in june. that provides higher. the unemployment rate falls to 3.5%. that matches the low in january. participation rates falls a little bit on the usual. that is compressing the unemployment rate. average hourly earnings is unchanged. that is good news for people who are getting jobs. the jobless story is 3.5%. that is unchanged in the rate, that did not go down. the labor force did. employment is up by 179,000. on a plane is down by two hunter 40,000. that explains the change in the

let's listen to how some bloomberg television guests are reacting to this moment. >> memes come and go quickly. same thing with prices. volatility down, stock market up. perfectly conditioned for meme stock actions. >> gamestop has been steady. it has maintained better than some other stocks. bed, bath & beyond, there is probably a play here. >> is not sustainable if you use an mental analysis. >> for leadership to be maintained, we don't think that is sustainable. >> we have seen a turn in terms of general market environment and getting involved in capital markets. i think that is why we are seeing a meme stock surgeons -- resurgence. katie: let's get more from billy on the phone. they just ran a survey on this topic. will the meme mania fizzle out? two thirds said no. let's start simple. why? >> i think it is a combination of factors like some guests mentioned. you have trading applications like robinhood. you have the ability for retail traders to buy far out call options. you have the community with platforms. when you look at the confluence of those factors, we see it continue to

the council made commitments in an interview with bloomberg television. buyers of residential property need to pay a 30% levy on all purchases under moves introduced in the past decade to cull home prices. the waiving of the stamp duty may reduce that level to 15%. >> mainland professionals have been clamoring for the stamp duty to be waived for them. we have received a lot of requests in that direction. >> will you do that? >> all measures are under consideration. laura: grammy-winning singer songwriter and actress olivia newton-john has died after a 30 year battle with breast cancer. the australian singer had some of the biggest hits of the 1970's and 80's and is best remembered for her role in the movie grease. she passed away on her ranch in southern california. global news, 24 hours a day, on air, and on bloomberg quicktake. powered by more than 2700 journalists and analysts in more than 120 countries. dani: laura wright here in london. and manus, a little breaking news in your part of the world on summer -- earnings? manus: one of the biggest chemic

guy: speaking earlier on bloomberg television talking about demand destruction effects.prices hit consumers and industry. how short of energy models will this be? >> i don't think we are falling short. they are filling up quite quickly. most are above their targets. i think it will be mainly pride issue rather than an amount or full supply issue. if russia would turn off the faucet, we would start to feel it in february, march or april. all depending on how mild or severe the window will be. sonali: that is still a while away. given that drag can last into next year so long what does that mean for the broader inflationary picture and the trajectory of the economy heading into next summer. >> high inflation like we just discussed on the u.k. economy. we will see a re-acceleration of headline inflation for the end of the year on the bank -- back of these higher gas prices and on this gas levy that the german government decided. this will continue throughout the summer. only then will we see these negative base effects kicking in and only then will we see headline inflation

new york on bloomberg television. let's get a check of the latest business flash headlines. breach of contract and trademark infringement, a legal showdown between two of the most influential chip companies around the acquisition of a cloud startup that developed chips that cannot be transferred without permission. arm has terminated this after sales negotiations. softbank's stepping down from his role as executive vice president after tech stocks slowed to a record loss. the founder takes over as managing the second vision fund. that's it for daybreak australia. daybreak: asia is next. we set up for the start of trading this thursday. this is bloomberg. when people come, they say they've tried lots of diets, nothing's worked or they've lost the same 10, 20, 50 pounds over and over again. they need a real solution. i've always fought with 5-10 pounds all the time. eating all these different things and nothing's ever working. i've done the diets, all the diets. before golo, i was barely eating but the weight wasn't going anywhere. the secret to losing weight and keeping it of

. >> we are speaking with the uber ceo, i am joined by emily chang on bloomberg television and radio.alked about growth markets, let's talk about markets where you are maybe not seeing that growth, where you read evaluating -- where are you read evaluating. talking about the idea maybe you could withdraw from india. dara: those conversations, police said a bunch of times and i'll say it again, our india business in terms of mobility is outperforming at excellent rates. we are very happy with that business. we did exit the delivery business. we didn't think we could be a top one or two player and there certain markets where we decide to get out, essentially we don't think we have a chance to get to number one within a reasonable cost. we will look to be disciplined in terms of portfolio. when you look at our portfolio, both mobility and delivery, both are growing at heavy rates. -- healthy rates. we are very confident going forward. to be clear we are staying in mobility in india. we love the market. >> are you confirming you are selling your stake, we heard there was a big shareholder

and sticking with travel as we head to the break, airbnb ceo tells bloomberg television he doesn't seemsumers pulling back from that travel spending. >> whatever happens to the economy, people are still going to want to live on airbnb, they are still going to want to travel. we are great with passing borders, we are great for travel. if you want to get in the car and travel, -- as well. buried in receipts, invoices and other paperwork that's preventing you from doing what matters most? then get the all new epson rapidreceipt smart organizer to scan, digitize and organize your documents and receipts. paper goes in and stress goes away. it's the only solution on the market specifically designed to extract and digitize key data trapped on receipts and invoices. and it integrates with financial software like quickbooks and turbotax. transform paper documents like contracts, tax records, warranties, wills, even recipes, into searchable pdfs. so the information is always right at your fingertips, safe and secure. with this exclusive tv offer, you'll get over $300 in added value, including a r

one of those people we heard from on bloomberg television was former treasury secretary larry summersbasically, he said the numbers, yes, are encouraging. but, the latest reading does not really justify any major policy shift from the fed at this point. he said that if the fed believes this is a game changer, they will be making another major mistake. here is why. take a listen. larry: we knew the headline number was going to be coming substantially down because we could see what had happened with gasoline prices. the core number was better than most people expected. that is certainly better than the alternative to that. on the other hand, it was heavily driven by volatile sectors. we have seen this movie before. haidi: larry summers thinks of the fed should stick with policy tightening to stabilize consumer prices. we are seeing a bit of a different move or reaction in markets. the expectation we had building for a 75 basis point move has fallen sharply. we are now looking around 50%. we have seen that around 75% to 80% below on the job support friday. -- jobs report friday. shery: c

more from sam bankman-fried watch the david rubenstein show "peer-to-peer conversations" on bloomberg televisionresting to talk about this at a time when it was not the inflation hedge a promised to be. jon: and you think about how sam bankman-fried has been positioned as the jp morgan of crypto. literally, jp morgan in the sense people are drawing parallels to previous periods of uncertainty and his willingness to jump in and provide capital support for an industry that is very young. some of those early investments has been challenged because the industry is dealing with challenges. kriti: still very young but one in which the volatility is declining. that is going to be good news for anyone looking at bitcoin as a macro asset. speaking of, let's take a quick market check. the s&p 500 bouncing off session lows, down 4/10 of 1%. the nasdaq down 3/10 of 1%. we are seeing a risk off move ahead of payrolls. for jon erlichman, i am kriti gupta. this is bloomberg. ♪ pst. girl. you can do better. at least with your big-name wireless carrier. with xfinity mobile you can get unlimited for $30 per month

asked her about what john taylor told us a couple of days ago, author of the taylor rule on bloomberg television, he said they should be aiming for 5% and maybe even higher. she said we could go higher. is jay powell going to signal that? how is he going to signal it? what context will he put that in? he will tell us about the update. >> look at how the latest jobs report was. his inflation starting to break? the year-over-year number has started to cool off a little bit and so has the ppi. how long will they keep it up? how long will they keep it there? i hope you can signal to us that it takes a recession to do this, if that is what happens in the fall out, that is what we will have to do. we will see. manus: as your interview with -- kathleen, great interview with the rbnz central bank governor. watch, wait, and worry, the natural resting state of the central bank. i loved it. you push him on what level of growth drop which he tolerate and what central bankers drop? i found interesting you talked about zero growth around the world is what we might need. kathleen: exactly and i think that was

and the cfo of hsbc acknowledged they have been in talks and this is what he had to say to bloomberg televisionrday after the second quarter results. >> we are definitely talking to ping an. they have raised as you would expect with any major shareholder raising issues with us, we are taking it seriously. it is very hard to find any value that we can put in front of shareholders. >> we will have to see what the hong kong retail investor base has this day later today and if they are getting behind the push. an activist investor at hsbc was behind the 2020 push to counter hsbc's scrapping of their dividend. that effort failed he did garner about 3000 investors to back that move and he is trying to re-harness that enthusiasm for this push to back the ping an push for the spinoff. that would make it easier to navigate the rising tension between china and the west. shery: shareholders must still be happy with second-quarter numbers especially with dividends being restored. >> as of next year they will return to quarterly dividends. the stock was up the most in about 18 months. the stock rose yesterd

we spoke exclusively to bloomberg television telling us more relief measures may be on the way. >> somethe measures we have announced are still being rolled out in the coming months, we continue to monitor the situation and the assurance that we give to everyone in singapore is that the inflation situation were to worsen, we would be able to provide more assistance. for now, we expect the inflation to probably peak at about the fourth quarter of this year towards the end of the year, and it will start to ees thereafter, but the big uncertainty is what is the extent of easing, where with the new inflation rates stabilize at? at? ethic it's more likely that it will not stabilize at the rates that we would all use over the last decade or so, 0.1% inflation. in fact, that in itself is a historical anomaly because inflation rates never used to be so low. so may center at the higher rates. we will put out the estimates in the view cause, but i'm sure it also says that we do worry about the risk for growth next year. so it's not just an inflation risk, and in fact, the growth risk are starting

lisa: good morning, this is bloomberg surveillance for our audience worldwide live on bloomberg television and radio, tom keene, jon ferro, jonathan out. we are lucky to have kailey leinz here. my take away from this week is how important gasoline prices have been to everything underpinning a lot of the rally we have seen in bonds and stocks. tom: can't be said enough. it is about a gallon a gas. paul sweeney has been good about this on "bloomberg surveillance" and radio. it can never be said enough. it seems old, seems dated, we are biased on the island of manhattan. we are wrong, it matters. lisa: it matters from every point of view not only because it allows people to have more discretionary spending because they're not putting toward the pump but also it affects things like university of michigan sentiment survey that we will be getting at 10:00 a.m. it will affect the imprudence -- the inputs. what are you watching for the pivot point to understand whether this rally israel? tom: i just don't know. -- is real? tom: i just don't know. the news flows extreme area, the reading over the w

at 9:30 marty walsh is joining bloomberg television. i'm curious what he has to say, with the messaging so tricky at a time when the federal reserve and even congress members are saying we need the labor market to cool off in order for this economy to get back under control and get some price control in the economy. this is not a comfortable message. how does he talk about that? jonathan: we will have a very serious conversation on bloomberg radio as well. mike and tom want me to ask about the red sox. i will try to squeeze that in. we have to talk about secretary blinken. tk saying china has chosen to overreact to speaker pelosi's visit. an headline after headline just dropping around this story. tom: it is a movable feast right now and into the weekend. you wonder when the white house will make some formal statement. i did notice the sanctions on speaker pelosi. jonathan: any extra headlines, we will bring them to you as we count down to payrolls friday. joining us now is dominic konstam. let's start here. soft versus hard. you think

keep it here with bloomberg television. g. ♪ how will your business adapt to change? you could hire an office full of peyton mannings. what's up, peyton? good morning, peyton. hold for peyton. they'd huddle.... welcome to the peytonverse. such a visionary. game plan... you go. no, you go! and call audibles... double our investment in omaha! omaha! omaha! omaha! or you could use workday. omaha. the finance, hr and planning system used by over half of the fortune 500. for a be-agile-like-an-mvp world. workday. for a changing world. this is xfinity rewards. our way of showing our appreciation. with rewards of all shapes and sizes. [ cheers ] are we actually going? yes!! and once in a lifetime moments. two tickets to nascar! yes! find rewards like these and so many more in the xfinity app. millions have made the switch from the big three to xfinity mobile. that means millions are saving hundreds a year on their wireless bill. and all of those millions are on the nation's most reliable 5g network, with the carrier rated #1 in cus

lawrence wong spoke exclusively to bloomberg television, telling us more relief measures they be on theay. -- may be on the way. >> some of the measures are being ruled out and in the coming months we will monitor the situation and the assurance we give to everyone in singapore is the inflation situation, if it were to worsen, we could provide more assistance. for now, we expect inflation to probably peak at about a fourth quarter of this year, toward the end of the year. it will start to ease thereafter. the big uncertainty is the extent of easing. and where will the new inflation rate stabilize at? i think it's more likely it will not stabilize at the rates we were all used to over the last decade or so. 0%, 1% inflation. that in itself was a historical anomaly because inflation rates never used to be so low. so it may settle at a higher rate and we will put out estimates in due course, but i should also say we do worry about the risk for growth next year. it is not just an inflation risk. the growth risk is starting to increase as well for next year. it is something we are watching c

it is the meeting of the kansas city fed, we welcome you on bloomberg radio and television.ademic. that is not the case, this fractured 2000 22. the chairman speech tomorrow. as well, the discussions happening right now, this thursday as the sun comes up. we will drive forward the conversation, we stay with you in the next hour. tomorrow, we go even further on with a live broadcast, first time of the fed chairman from this kansas city fed. what we have heard from honda larry and and synthesize it in the bank of -- mohammed el-erian. we do that with the global head of g10 fx strategy at the bank. thank you for joining us and rethink us on strong dollar. does zeitgeist, if at some point the dollar moves the other way, win do we see dollar weakness? what are the conditions that will allow for a dollar weak>? ? >> it is simple. the dollar has weakened so much because of high, particularly in the u.s. and the hawkish fed. we need the fed to stop -- start being more concerned about growth than about inflation for the dollar to start weakening. i wouldn't necessarily say the dollar

kathleen: weekend expect fed bank president speaking with bloomberg television. jay powell is more of a question . how hawkish will he be on inflation? what will he say about how hard they will have to push? remember, jay powell has not spoken since recently, the last couple of weeks. the headline cpi breaking from 9.1% in june year-over-year to 8.5% in july. that is one of the reasons markets may ease up and not hike rates as quickly. a couple weeks before that, u.s. payrolls in july were double what was forecast. the labor market is still strong. that's a green light for the fed to push as hard as it needs to. the big question is, is jay powell ready to risk recession? how high, how fast will he signal willingness to take the funds rate higher? you can see from the bloomberg chart the forecast from inflation. you go from the bottom up. as traitors and economists look to the future they have gotten steadily higher. the fed is signaling they will go up to 4% by the first half of next year. that does not always jive with what the market is expecting. haidi: what a

today on bloomberg television, balance of power, my book of the year, angela stent on putin. welcome back to another special u.s. open update from bloomberg tv. rafa moves on and raducanu loses on her opening day. after losing the opening set, the spaniard put his foot to the floor before securing the win. nadal can extend his lead as he tries to claim his fifth crown in new york. next up is italy's fognini. defending champion emma raducanu was sent packing by cornet in the biggest upset of the tournament so far. 31 unforced errors hold the story for the brit. don't forget, dennis china life has all the news you need. see you daily at 9:00 eastern. jonathan: live from new york, good morning. the s&p 500 is down about 3%, the countdown to the open starts now. >> everything you need to get set for the start of u.s. trading. this is bloomberg the open with jonathan ferro. jonathan: live from new york, would begin with the fed. >> we don't know for the life of this why people believe in the fed. >> i think you are fighting the fed of your bullish. >> i don't

stay with us on bloomberg radio and bloomberg television. good morning. this is xfinity rewards.ing our appreciation. with rewards of all shapes and sizes. [ cheers ] are we actually going? yes!! and once in a lifetime moments. two tickets to nascar! yes! find rewards like these and so many more in the xfinity app. jonathan: for our audience worldwide, we are negative about a quarter of a percent. the countdown to the open starts now. >> everything you need to get set for the start of u.s. trading, this is bloomberg, the open with jonathan ferro. ♪ jonathan: live from new york, whipsawed by economic data. >> the data has been fascinating rate -- lately. >> cpi numbers and the

stay with us on bloomberg television and radio. ♪ >> welcome back to another western and southern update goodbye to tennis legend as serena williams went down to the reigning u.s. champion. she announced she will retire after the upcoming open. despite the loss, fans gave the 23 time major winner a standing ovation as she left the court. >> to be honest, i was nervous from the first point to the last point because i know what a champion she is. she can come back from many situations. i had to stay focused and i managed to keep my composure. >> she moves on to face victoria as a rancor in round 2 -- victoria azarenca in round two. live coverage starts at 11:00 eastern. millions have made the switch from the big three to xfinity mobile. that means millions are saving hundreds a year on their wireless bill. and all of those millions are on the nation's most reliable 5g network and most recommended wireless carrier. that's a whole lot of happy campers out there. and it's never too late to join them. get $450 off any new purchase of an eligible samsung device with xfinity mobile. or add a lin

. ♪ david: from bloomberg world headquarters to our television and radio audiences, welcome to "balanpo

david: from bloomberg world headquarters in new york to our television and radio audiences worldwide,o balance of power. the jackson hole economic symposium is finally here and as a prelude to the main event with chair jay powell tomorrow, michael mckee spoke earlier with fed kansas president -- kansas city president esther george.

david: from bloomberg world headquarters in your tower television and radio audiences worldwide, welcomee of power. we had furred -- have heard from joe jay powell on inflation. this is what he had to say. >> some point as monetary policy tightens further, it will likely be appropriate to slow the pace of increases.

david: from bloomberg world headquarters in new york our television and radio audiences worldwide, welcomeait for jackson hole and jay powell's remarks this friday, we have economic data out today and it was not altogether encouraging. pmi's were down to something like 45 eared in the meantime, europe pmi's were also under 50, about 49.2. and new housing sales where the lowest in six years for the united states. to give us a sense of where we are in the economy as we head toward jackson hole, chief economist for apollo management. gr

david: from bloomberg world headquarters in new york to our television and radio audiences worldwide,o balance of power. the markets i think are caught between the fomc minutes from yesterday and the jackson hole meetings coming up next week, trying to decide where they went ahead. to give us a sense of both of those because he cover the minutes yesterday we welcome bloomberg international economic and

we welcome all of you to "bloomberg surveillance" on radio and television.ailey leinz in for jonathan ferro. tom keene and lisa abramowicz. for our audience, it is without exaggeration that america is focused this morning on events in florida last evening. joe mathieu joins us. his wonderful "sound on" can only have one topic this morning. i want to go tovox, with a quick -- go to vox, with a quick and immediate summary of the judiciary of america. the justice department has a process to do a search warrant, and if anyone is involved political, as clearly the former president is, this is a process that goes from holder on to barr and now on to garland. there is a history of what doj does. discuss that. joe: there is a process here, and that is why we are being careful how we want to characterize this. this was a search warrant approved by a federal judge with a very specific thing that they are looking for. we just don't know this morning what that is. it brings us back to january, if not earlier. the national archives took back 15 boxes of documents early t