brainerd. my time is up. i'll send you some additional questions for the record and look forward to your responses. congratulations again to you both for your nomination says. i yield back, mr. chairman. >> thank you, senator. the chairman has some closing comments and so do i, and we'll wrap up. >> some seem to be suggesting that inflation is the result of greedy companies in highly concentrated industries. in fact, i don't think the data supports the contention. i don't think that's well correlated, that is to say, the rate of inflation and the extent to which an industry is consolidated. and, in fact, one that i can think of that might be among the least concentrated industries that i know of, the retail sale of used cars is experienced among the highest rates of inflation, 37% over the last year. i also want to respond to governor brainerd's statement that the climate center analysis she's been advocating is not a stress test. it seems to me that is little more than a semantic difference. of course, the w

tom: brainerd is the presumptive vice chairman. is someone with first rate -- brainerd is someone with first rate economic skills, but not so much around core economic theory. that is not the case for williams, and with the special voice of the new york fed, is considered a first rate monetary theorist. jonathan: and we have not heard from them for a while. cpi was hot. ppi was hot. that is the story so far. yield settle down. unchanged for the most part through the curve. finish on this, the surprise of the week. the biggest weekly loss potentially for crude of the year so far. double g.i. -- wti negative on the week. similar move on brent. fascinating conversation. a trim in this with kailey leinz and the head of pioneer who basically said i don't care if it is $100, one hundred $50, $200, this time around we are going to be much more disciplined about drilling for more crude. tom: go to romaine, please, because a big one is landing at heathrow. [laughter] jonathan: you're watching big jet tv, still? tom: it is like a boeing some

when you think about fed speakers, despite hearing from many others, listening to what williams, brainerd, and powell say will be more critical to determining what the actual path will be for the fed. we think they would like to be gradual, be pretty well telegraphed. despite the fact that the market is pricing in a hike probability of 50, we think the more likely path is to start out with 25 and then continue at consecutive meetings throughout the year, although they may end up only doing six hikes this year, rather than seven. jonathan: brian, i think that is a no from president williams. what say you? brian: i think there is just too much going on in terms of energy, the tax on the consumer. rates are higher. i don't think the fed wants the market to believe that seven is the beginning. between six and seven rate hikes they are happy. the fed is still buying bonds, so this is a gradual process. it is a bit of an experiment how they use them. jonathan: this argument of what happens if they don't do 50 i find interesting. the intuitive response from markets is a rally. they don't do the

the digital billboard in brainerd, david bought it to shame his less than lucky buddy troy the same weekend a big fishing tournament brought thousands to town. >> he has been less than successful in previous trips. he knows how to catch and fish and all that. but if there is bad luck on the boat or in the fish house, troy's got it. >> you see troy has been a good sport but you can bet he is plotting revenge. i don't know troy, i think probably concentrate your efforts on being a better fisherman. >> i like that, anne. >>> we're going to have some news with a lot more points coming up next. it is 5:27. ahead on kpix5 and streaming on cbs news bay area, we will talk about the growing tension between russia and ukraine. it remains high this morning. how u.s. officials say a potential russian invasion might begin. >>> reducing student absences from school. the plan from a bay area senator to keep them in classrooms. >>> a new team is bringing you kpix5 news at 5:00. we are excited to introduce sara donchey who will joe buck and john smoltz welcoming you back to the city center convenience mart.

we would your from brainerd, williams, and the third piece of the story today which i know you're are super addicted with right now, storm unit bettering the united kingdom. what you are seeing at the moment are some highly skilled pilots landing some really large planes into london heathrow, and this channel right here, big jet tv on youtube, getting a ton of people tuning in to stare about this gray skies and these planes pop through them and execute some unbelievable landings at london heathrow. tom: let us close the loop on one of the flights we looked at. this is qatar flakes three. we believe that successfully landed. it looks like it is a little better right now. i think the conditions may be the patchy blue sky, maybe it is the backside. jonathan: we hope things improve and hope everyone in the u.k. stays safe. futures up 0.25 percent. from new york city, this is bloomberg. ♪ leigh-ann: keeping you up-to-date with news from around the world, this is the first were news. i'm leigh-ann gerrans. russian foreign minister sergei lavrov will discuss the crisis in ukraine with u.s. s

. >> representative brainerd, it's a serious talk.ed to work in other policies that matter to you and your campaign. you know, skills. i appreciate seeing you. i hope we see you again. >> yes, thank you so much for having me, i appreciate it. >> absolutely. appreciate it. we'll stay on that story as well. >>> let me tell folks coming up. we have a definitive break, but new protests over the killing of a 22-year-old black man in a no-knock raid. a failed raid. new calls for action. that's next. new calls for action that's next. what happens when we welcome change? we can make emergency medicine possible at 40,000 feet. instead of burning our past for power, we can harness the energy of the tiny electron. we can create new ways to connect. rethinking how we communicate to be more inclusive than ever. with app, cloud and anywhere workspace solutions, vmware helps companies navigate change. faster. vmware. welcome change. seeing blood when you brush or floss can be a sign of early gum damage. new parodontax active gum repair kills plaque

given the rhetoric and the bullard comments and brainerd, et cetera, and nester, my sense is they'rethat may be the point in early to mid-march where stocks -- that's the point from which the bottom, we go up from, versus stock going down into, that could be the catalyst if you will where all the uncertainty goes away. the russia/ukraine thing, again, sad on a humanitarian basis but we talk about oil, the average american spends roughly 7% of their disposable income on energy. this is not going to tip the economy into recession. i came into 2022 looking for lower growth, lower corporate earnings but not he recession. it's going to go back to the obama era growth in the country. maria: yeah, a lot of pressure coming at this economy between higher oil, a slowing economy, growth numbers, and of course we're going to get the gdp out today. we will bring you that gdp, that was the second estimate for the fourth quarter. so we'll bring you that coming up in about an hour's time. allie, paul, thanks very much. great to get your insights this morning and mark tepper you're with us all mornin