brian quinn joins us. as americans had to the polls to vote in the midterms, economic uncertainties weigh heavily, but by most indicators, the u.s. economy is in relatively good shape. >> it is indeed a conundrum for democrats who are looking at losing control of congress potentially. household wealth is actually up 30% since 2020. the unemployment rate is at a five-decade low, and the biden administration has delivered on a number of popular measures including cloverleaf funds, student debt forgiveness, but consumer sentiment is near record lows as inflation in the u.s. remains stubbornly high, hitting americans' wallets and souring their mood on the economy. >> it is on many voters' minds, and the words on many american'' lips. >> inflation. >> inflation. >> inflation. >> after peaking just about 9% in june, inflation remained high in september, and consumers are feeling the pinch in the supermarket aisles with the price of flour up 24% and the cost of eggs up 30%. on top of this, mortgage rates are the

brian quinn joins us with continuing fallout from the collapse of the world's second-largest cryptocurrency exchange. >> the former ceo of now bankrupt ftx is facing a classic lawsuit in florida along with a host of celebrities who promoted the exchange, including football star tom brady and comedian larry david. yield-bearing customer accounts at ftx were in fact unregistered securities being sold illegally. ftx is reported to have used customer deposits to bailout its affiliated hedge fund, alameda capital, for losses suffered in risky capital investments before then collapsing amid the crypto investment of a bank run by investors. crypto under block fight is preparing for bankruptcy due to its exposure to ftx. genesis is suspending customer withdrawals and new lending. the latest data out of the u.k. shows the rate of annual inflation there at 11.1% for october, its highest level since 1981 and a full percentage point above september's range. >> the bank of england earlier this month forecast that u.k. inflation would peak around 11% in the fourth quarter. the annual inflation rate for o

anchor: it is time now for a look at the day's business news with brian quinn. rld leaders gather in bali for the g20, there is a corresponding gathering called b20. brian: for business. monday featured appearances by some of the world's most successful business magneates. including jeff bezos, he gave an award to musictar dolly parton to be used for terrible giving. then, jeff bezos himself plans to give away most of his $124 billion fortune during his lifetime. elon musk addressed the b20 via candlelit video link. he was unable to attend in person due to a court case over a tesla pay package. he's also dealing with chaos at twitter, hemorrhaging money in an advertiser exodus. the tesla founder, spacex ceo and chief twit announced he may have bit off more than he can chew. elon: i have too much work on my plate, that is for sure. i am working the most i can work, morning till night seven days a week. this is not something i recommend, frankly. bryan: checking on markets, london is no longer king of the hill for european stocks. paris's exchange is europe's most

brian quinn joins us on the business desk. loss and damage is the big theme of the u.n.limate conference helping nations confront climate change. the question, who pays and how? >> the u.s. has an idea of the financial times reporting america is set to unveil its plan for developing economies to finance their transition. the idea come a framework for carbon credits to be sold to existing businesses. the proceeds from which would be used to fund green energy products. john kerry hard at work trying to cvince other nations to sign-on in the hopes the plan could bring tens of billions of dollars in private capital to the fight against climate change pretty could be a tough sell given the nature of carbon critics. in california carbon credits sell for $30 per ton paired international monetary fun chief says the average needs to be far higher for the plan to work. >> carbon price is essential for the transition. and leslie price carbon predictably on a trajectory that gets us at least a $75 average price in 2030, we simply don't create the incentive for businesses and consume

. >> time now for a look at the top business news with brian quinn.a potential lehman brothers moment for the cryptocurrency world as ftx collapses. >> prior to this week, ftx was one of the biggest players in the crypto sector. its ceo seen as a millennial j.p. morgan as he built digital currency operations. that has collapsed in just days. resigning as ceo and declaring bankruptcy. the company and the founder under investigation by the department of justice and the securities and exchange commission, risky bets at their hedge fund. it was precipitated by the crypto equivalent of a bank run on assets, spurred in part by binance. binance had offered to take over ftx, after -- until backing out of the deal. analysts are predicting cascading effect across the entire crypto sector. >> peopleoth in the business world and the policy world who looked to crypto with some sor of skepticism, and retail investors who were not sure whether they would put their money into crypto, some of their suspicions have been validated. that is an unfortunate mark on the ind

brian quinn joins us. in the u.k., the government has unveiled an austerity plan. : times are tough in the u.k. and probably not about to get any easier any time soon. the chancellor delivered his autumn statement in parliament to reassure markets. the new budget features tax hikes and cost-cutting measures and comes as the u.k. is staring down what could be its longest recession in recorded history. >> he had warmed over the weekend he would be forced to play the scrooge. finance minister jeremy hunt unveiled a new package thursday promising to tackle the cost of the living crisis and rebuild the economy. almost half of the plan will come from tax rises. >> asking more from those who have more means the first difficult decision i take on tax is to reduce the threshold at which the 45 rate becomes payable from 150,000 pounds to 125,001 hundred 40 pounds. >> the previous administration under liz truss had tried to abolish the tax altogether, but more people will be expected to pay basic income tax. >> in the last hour, the conservatives have picked the pockets of pur

quinn. this is bloomberg. >> still ahead we discussed the upcoming jobs report. up next, why brian jacobson says investors should not take jay powell's hawkish and us to seriously. this is bloomberg. ♪ >> don't focus on the pace anymore. >> it's more about the destination then the journey. >> the beginning was misleading. >> we are not pausing. >> the second bombshell. >> suddenly a more hawkish tone. >> chair powell is more concerned about under tightening men over tightening. >> a big disappointment for the market. >> the fed does not want to see a replay of july. >> now it's about the ultimate destination. >> you are expected to see a step up for the terminal rate. >> they love guessing with the terminal rate is. >> guests reacting. our next guest says not to take jay powell to seriously. i guess you have to contrast with what we heard from the boe overnight trying to manage market expectations that they think are too extreme going forward. does this just emphasized the challenges for central banks that they have only so much data to work with right now? >> that's exactly it. th

. >> brian: janice dean joins us from chelsea piers in new york city. janice? >> good morning. i got christine quinn to get these wonderful meals, and rob, the founder of this wonderful organization, 21 years ago. tell me why you decided to do this? >> right after 9/11 we wanted to go out and do something as friends and people i work with, and we decided to go out and feed families in the shelters in new york city. and christine's organization, women in need, they run these shelters for women who are getting back to life with their families, so we wanted to give something back to the city. today we are feeding 8,500 families. >> that's incredible. 21 years now, over 100,000 meals, right? eagle 100,000 meals, probably three people for family, so 300,000 or 400,000 people have been affected. we knock on doors, we take this to the shelters, so everyone in the shelters of new york city will be fed a turkey dinner this season. >> it's important to give back. you are very successful ceo. how important is it for you to give back and have your family do the same and get out here every year? >> the first yea