it is the focus of this week's bloomberg businessweek magazine.ou can get the actual paper product or online. we welcome the author of this cover story, katie greifeld. it is interesting because a lot of people -- even i do not really remember the inflation of the 1970's and 1980's at my great age, which means normal people younger than me didn't experience anything like it. katie: i was not close to alive in the 1970's. even in the 1990's was the last time we saw cpe this high. a lot of money managers on the street today were not managing money. we are talking three decades ago, not months or years. it has been a long time since we have seen a moment like this. if you are looking out over the next year, this is the question you have to answer. if you think about asset allocation, this reverberates around stocks, bonds, everything. matt: headline cpi going back to before nirvana and pearl jam. this goes way back to 1990. we have a fed that seems more reluctant to fight inflation than, say, paul volcker was. when you were on bloomberg radio today,

side of transitory, inflation on everyone's lips and that makes it this week's cover of bloomberg businessweek. it is our cover story and you can see it here. you know who wrote that story? katie who is joining us on set to talk about this cover story. at the end of the day, we are all concerned about this for one reason and that is because it erodes our purchasing power, our investment gains, everything we talked about on this show every day. >> if you are a money manager it can erode your returns in a big way. so this piece is looking into the psychology of running a portfolio and what exactly is at stake in that question, transitory or not. this is the question, you have to look at the portfolio over the next year and there's a lot of estate to the downside but there is an optimistic bent. if you get this call right, this could make your career. if you think back to 2007, 2009, there are some real heroes. michael with subprime merger -- mortgages, others, you could stand out here. taylor: someone who did get the call right was professor jeremy siegel. >> it is not over. we have seen it go a

i saw a bloomberg businessweek piece about discounting into thanksgiving and black friday.here will be less of it. you will have to pay closer to full price for a lot of the products that you buy. stephanie: walmart knows their customer extremely well. the customer tends to be more value-oriented. they don't want to put their customer in a predicament this holiday. they want to be able to give gifts, build that thanksgiving table, and all of that comes into play when they think about value to the consumer. they are also saying, we have a competitive position. if we don't pass through the full extent of the price, we are widening our value vision. this is a good opportunity to pick up chair as they flexed that overall muscle and scale. matt: thank you for joining us. i am just looking at all of these websites that are not working. i was checking to see if walmart's was. i know that you cover target. their website is down. home depot is down. lowe's is down right now. how important are the websites to these companies nowadays? so much more than a year ago, certainly five year

tracy alloway and bloomberg businessweek reading up goldman sachs optimism on productivity.ou see across markets evolving into december. it is to labor -- a great bull market. kailey: you are seeing these concerns playing out in the fx channel. what the fx market is worried about is any concerns from growth. does it continue to feed into that idea that the equity market isn't completely unattached from what is happening in terms of the economic outlook, given the earnings are still solid. the bull market is still rolling on. tom: the economic data we will see will be extraordinary. futures now up 15. the vicks 18.14 -- the vix 18.14. 10 year yield, 1.58% per year out, one dollar $.15, one dollar 14 cents, $1.13. bouncing off of a $1.1250 level earlier this morning. you've got a brief, and it does center around economic data. lisa: the idea that we are seeing the weakness of dental additional restrictions in europe, and bond markets, and fx markets, not in stock markets. why? because low yields or underpinning the dynamism we see and equities. some people have accused me of b

matt: i saw your quote in the " bloomberg businessweek" cover story about the importance of an inflation call. what's your call? where are we a year out, five years out, and what does the fed do? michael: i feel terrible because i chucked it into the garbage without looking at it. i never knew it was there. this is a huge change of the macro environment and very reminiscent of the late 1960's when inflation came from nowhere. when things change at a very high level, it takes an awfully long time for the market and policymakers in the political environment to come to grips. i think we will look back on this 2020/2021 period. is this incredible period of social and medical disruption but when the long inflationary pressure has grown out in the u.s. jonathan: i like to think you read the online version. michael: i will. jonathan: michael shaoul.l some are staying boo -- bullish. not year end, in the middle of the year, in june. lisa: how much is this becoming the consensus that it will be a strong six months at the front of the year and the back will be rockier as you get tightening with th

bloomberg businessweek, inflation is dead. jonathan: that might have been the contrarian indicator. now the headline, inflation, for this month's cover. there is a bit of a caveat because this month has said inflation in bold letters, and at the bottom in very small print, maybe the muster -- the monster isn't what we feel it is. tom: what is so interesting is our debate with claims at 8:30. how do you a dow -- how do you adapt for it. what do we do? jonathan: how did this added up to it? july for goldman, september for the likes of j.p. morgan. then with q1 2023 from morgan stanley. then december 23 from td. there's a massive spread on wall street on when they think the fed will move. tom: there's two debates on inflation, bowtie debate and a real debate out there about what does it cost at thanksgiving dinner versus 12 months ago. lisa: the pace of the inflation and the decline in that rate, he was basically saying it might be enough if early next year, the fed sees what it wants. second quarter, a start of a decline, do they have time to do that? tom: equities will lift further a

in this article i have for bloomberg businessweek, i spoke to someone who said he feels totally comfortableecause he's looking three years out. picking companies based on balance sheets. but if your timeline is a year, this is the call you have to get right, whether we are going to see this spiral in inflation, may be driven by wage pressure, or whether this is really going to be transitory. it is something that is going to cool down, a be peak in february. i know that is citigroup's call. but this is the question you have to answer. guy: one of the things i think the market is beginning to pick up on is the fact that food price inflation is starting to rise rapidly. i think you've got a situation where you've got coffee hitting a seven-year high. that is a major crisis. when we think about deere, i was looking at a chart as well of used tractors. i think they are up by 25%. input costs are up massively for the food industry. there's a wheat futures story. in terms of what the near term effect of a deere strike is -- a deer strike sounds like something you do to your car -- what is the tran

we had a "bloomberg businessweek" cover that pointed out, if you make the wrong call, as a strategist, it is bad. if you make the right call, you are a hero for decades. nadia: inflation is something we will watch closely, but we do think inflation will be subdued next year. much of the spike has been driven by the more flexible component. so things that price more quickly, food, energy, auto, hotels. if you look at the flexible cpr, it is up nearly 15%. but we do think the more flexible elements will normalize in 2022. we are looking for inflation to get slightly on 2% by december of 2022. jonathan: there is one thing missing from this call -- no rate hikes until 2023, inflation to subside by the end of next year. very bullish by the middle of next year. i looked through the preferred sectors -- energy, financials, discretionary, houses. where is the i.t. story? where is the information technology story in your call? nadia: yes. unusual at the moment. again, with covid cases rising, we typically see volatility and more tree inflation trade as well as reopening trade -- re flation tra

. >> you wrote a piece for bloomberg businessweek tonight. this indictment is the fight that both sides want? >> that's right. i think, you know, the -- the key from today's news is that it answers a question about the biden justice department. a lot of democrats were anxious about. they wondered, would attorney general merrick garland pursue these charges? or in -- in some, you know, misty desire to get back to an era of partisan comeny, would the biden administration fall back and not prosecute these cases and i think the indictment today clearly answers that question. the -- the administration is going to fight and do everything it can to bolster the january 6th investigation in congress. so, part of that fight entails getting an answer to the question of whether or not trump can claim executive privilege. he is doing that in his efforts to try and prevent records from being released to the committee. and bannon's refusal to subpoena, in this case, and the fight that he is going to have over his indictment is about whether or not he can cl

editor-in-chief of the standard and regional editor for businessweek. he co-authored the wti director general -- wto director general, published at the time of china's entry into the wto. as executive director of the hong kong-based asia council, he co-authored through the eyes of tiger cubs. his other books have examined korea's economic development in the 1997, 1998 financial crisis. we will then hear from joanna ch u, a senior journalist and the author of china unbound, a new world disorder. reported and fiercely argued according to publishers weekly, the book details china's rapid international rise and the ways western nations have contributed to a state of disorder. she has previously served as bureau chief of the star vancouver. as a global recognized authority on china, the author of china unbound is a commentator for international broadcast media and was previously based for seven years in aging and in hong kong as a foreign correspondent specializing in the coverage of chinese politics, legal affairs for one of the world's biggest news operati