that is enda curran, our chief asia economics correspondent. now to ukraine where president volodymyr zelenskyy says talks have given positive signs, but he is warning that russia cannot be trusted. . >> we can say the signals we hear are positive, but these signals cannot silence the explosions of russian shells. of course we are seeing the risks. we are not seeing grounds to trust the words of the country that continues fighting to destroy us. dani: what are the reactions to russia's announcement of this drastic pullback around kyiv? >> indeed. the situation is that we have seen how markets have reacted. they have reacted very positively. the reaction from officials was much more skeptical as we heard from president zelenskyy, but also from officials in the u.s. and also an advisor to zelenskyy said we are perplexed by how markets are reacting. what president biden said -- i should not be reading too much into what has been achieved. also, mr. blinken, secretary blinken set actually there is one thing with russia says and what russia does now

curran: when you start looking at plants and naturally occurring chemicals, big pharma's always going to be thinking about what's patentable, what can be patented. in general, you can't patent nature. you can't patent a natural compound, which is why what the pharma industry often does is, they'll pursue a naturally occurring compound, but then they'll modify the structure so that it's sort of their own private modification, so to follow the scientific path, to move from a novel chemical in a plant all the way through this clinical pipeline to an approved drug, you have to think in an incredibly reductive way. you're reducing a plant to a single compound, and then you want to see how thatompound engages with your cell biology, with your physiology in theuman body. that's incredibly reductive. cordero-lamb: and we can talk about plants, but that's just a small part of this whole picture of getting outside western dichotomies, western binarys where not only are things split into two, but one half is given higher value than the other, so male over female or white over brown. we're trying

for more on this, we are joined by enda curran. how much backing does powell's 50 basis point hike, the possibility, the lack of things holding him back from doing that, how much credence and support is that getting from other fed speakers we are hearing from? >> -- enda: we had a volley of hawkish rhetoric from fed officials. mary daly saying not only do they need to get rates back to neutral, they need to go into tightening territory for the economy. we have jim bullard saying on bloomberg television a similar message. faster is better. he voted for the rate hike already. seems to be leaning towards the jerome powell camp. the fed seem to be responding to criticism behind the curve. they have not acted fast enough to contain inflation. in the space of a week, we have gone from commentary over incremental rate hikes to a big move by chairman powell. fed officials weighing in behind him so by all accounts, a lot of the expectation is for bigger moves by the fed and that of course will lend itself to more market volatility. dani: th

for more, we are joined by enda curran. who will be impacted by these new tax proposals if they are passed? >> there will be a billionaire's tax, a capital gains tax and a corporate revenues tax. the idea is to raise $2.5 trillion to offset this budget. it increases funding for police and veterans and the like. a big question is whether these measures will get through congress without a major rewrite and without being overtaken by the economy itself. we have officials telling us that inflation forecasts are well ahead of data. that will have an impact on their assumptions. so we will probably get a new budget forecast sometime in the summer. it is something of a fiscal wishlist. but policy will determine how far those proposals actually go. dani: enda, thank you very much. coming up, as japan's finance ministers signals growing concerns over the yen's recent slide. we will look at the boj's bond intervention later this hour. this is bloomberg. ♪ dani: welcome back to bloomberg daybreak: europe, i'm dani burger in london. th

in return it's asked for legally binding security guarantees with other currans acting as gain toriesine is ready to discuss the status of crimea, the pens la russia an exed and it's also insisting that russia shouldn't prevent ukraine from joining the european union. >> our approach hasn't yet been accepted by russia. we're saying this is our position. our official position. we'll wait for their answer. >> russia responded with what it presented as a significant concession. it said it would scale back its offensive near the ukrainian capital, kyiv. >>ussia has taken the decision to tractically reduce come bat in mariupol another area. >> if russia does kurt back fighting around ukraine's capital. that would mark a key shift in what most of the world calls america's war. an admission programs that russian troop have realized they cannot take the city of kyi version. but russia hasn't seesed hostilities in ukraine. it made that clear today. its troops are continuing to fight although the main focus is in eastern ukraine. and what about the status on any potential deal? also not clear a

retired pharmacistjacinta curran is chairperson of newry chernobyl aid., the charity has provided support to countries impacted by the chernobyl nuclear disaster in ukraine. but today there's a new cause — to help refugees of the war there. hello. thank you so much. yeah, just drop it in there. thanks a million, all the best. collecting for charity in a shopping centre — an everyday scene — onlyjacinta has herflight booked to poland to spend the donations on the ground. thank you so much. thank you very much. we take the money out and spend it out there and we get directly what they need. we need to get it into ukraine because they are desperate. they are desperate for food and medical stuff. outside the town hall in newry, locals gather to show their solidarity for the people of ukraine. it's all to do with helping ukraine to stand up against invasion and against tyranny. as yourselves, i was looking at the television reports and we were thinking, "this is awful, what can we do?" now it's jacinta's mission to head to the polish—ukrainian border, to provi

retired pharmacistjacinta curran is chairperson of newry chernobyl aid. we need the blue on top.r disaster in ukraine.

our chief north asia correspondent enda curran is with us.when it comes to a lot of these economies and supply chains that are still recovering from the pandemic. enda: the supply chains were already buckled by the pandemic and now they are being hurt by this glover from ukraine. we have seen wild rides in nickel prices, copper prices and aluminum, raw materials, consumer and household goods made in asia. i spoke to a lot of factory people in the past week and they all say that our costs are going up, we have seen price hikes of 20% in recent weeks, and they are talking of having to increase prices for and customers. also hearing about daily household goods, everything from toys for your pets, through to the products that you stop in the kitchen. in particular the price of oil, it will have an impact on drastic producers because costs have risen. the expectation had been waiting to this year that may be the producer price surge would rule this year -- would cool this year, but the ukrainian invasion has turned it on its head, and producers no

we have enda curran, maria tadeo, and aggi cantrill. dani: let's kick it off with the fed because they are set to raise interest rates for the first time since 2018. with a 25 basis point rate hike already phased in, investors will be watching for what else comes from the policy meeting. for more, and occurrence joins us now. we expect 25 basis points. what else should we be listening for from the fomc? enda: it is all about the dot plot. we know they are going to go 25 basis points, but how aggressive will it be signaling further rate hikes? in the face of the remarkable commodities surge in the russia ukraine crisis, what will this mean for economic spillover from that conflict? the 25 basis points are as expected but there will be a lot of questions that investors are hoping for clarity on. manus: thank you very much. we will see you through the morning. that is our chief asia economics correspondent. let's move the story forward. the political story. president biden will travel to brussels next week to meet with nato allies and take

tom: we are honored that in the current dust that -- that enda curran could join us.does it do to the domestic economy, and what does it do to the confidence in leadership? lisa h: --enda: we are going to find out. shenzhen, next door to hong kong , a big industrial hub underway wide range of restrictions as well, which means there will be a hit to consumer spending and confidence, but we will have to see how the industrial sector does because industrial production might be slowed down, shipment to ports might be slowed down. so there are many ways it can play out economic a. to your point about leadership, it is all about the big congress coming up in october, november, so they have made it clear they want to continue. i don't think anyone expects a pivot from them and their term. lisa: people were looking at moves on the periphery for signaling what ending zero covid policy could look like. in the meantime, since that is a faraway off, what kind of fiscal support, what kind of monetary easing are people expecting? enda: blessed weekly -- last week the mpc came out w

dani: for more, enda curran joins us now. a lot of announcements coming from russia from the bank of russia. at this point, if they want to continue to support the economy, support the ruble, what options do they have left? >> they're going to be pretty painful options. we have to see what they do in terms of their key interest rate because they jacked that up further. what more can they do in terms of controlling the market. we know for trading our colleagues mention the same for the stocker change being close, forcing the companies that fell off holding as well. one interesting thing to keep an eye on is how they choose to access any of their reserves that are held overseas. there is about $77 billion worse of russian -- in beijing and they also had a fault line with the pboc central bank in china, and of course there's a payment system set up between the two countries as well. so whatever domestic measure the bank of russia takes today will be seeing clear as we go, but there is potentially one liquidity lockdown. and that

curran county is the largest producer of oil in the continental u.s., but green policies have drastically't produce here, we have to import. and industry leaders tell me they have the infrastructure to start drilling more immediately and driving down those gas prices. i want to show you that infrastructure. look behind me. this is a horse head, okay? it's drilling for oil and water in the ground here. and then if you pan over, lance is going to show you they actually go through those lines and end up in those tanks, and that's the first step in the process where you separate water from nat gas and oil. i want to bring in dave, the mayor of taft, and he's an oil industry credit -- vet. tell us more about what's going op. roett say you start drilling more, how quickly could prices drop? >> when we see a change in policy and intent in the state california, it'll be recognized by wall street and the traders. that'll have an immediate effect as far as where oil is going. web get those permits, we can drill these wells, we've got the people and infrastructure in place. it'll take a little longe

the warriors picked things up tomorrow on the road in minneapolis and steve curran company have to bestraight home game in which the warriors dominated for three quarters before falling well short in the fourth. even when they were ahead last night against dallas. the warriors miss countless easy shots that contributed to the mavericks ability to come back from a 21 point deficit. steph curry on how both ends of the court affect the overall outcome. as a point where we start missing shots, and that started affect our defense because we played great defense for 36 minutes and gave ourselves a huge lead and really felt like we had a game under control. and for whatever reason, our energy switch when missed a couple of shots, empty possessions for so we got to figure out maintain our energy even if shots are following because that's what it might be like in a playoff game where you got to grind out of wind. the one bay area. very good. feel good story of the weekend was the saint mary's basketball team . the gaels knocked off the number one team in the country on saturday night for just

we had a big spike in in england in show, everyone because this when time it's just fizzle down, curranide. apart from we can get done like >> the good joke. corona i with it. let's talk about our forecast right now as we take a live look outside. >> here at san francisco international calm night out there tonight. >> chief meteorologist lawrence karnow is with us. speaking of corona, cheers to the weekend. yeah. how about spring let's go with that being nice. yes. speaking you get away forecast for you tonight. looking out toward the airport, a step on a plane. you're going out to spring break. things are looking good out there right now. no delays being reported at san francisco, oakland or san jose. airports do have some patchy fog along the coastline, but that's not slowing things down. but the cool you off in the monterey bay, if you're headed that way, temperatures there expected to be in the 50's. you'll see some patchy fog right out of the water's edge. so plan ahead over pacific grove or moderate plan to be pretty cloudy there. but you get a little further inland in the salinas

his hair is giant doremus more years, coach steve curran ferrell came up with the plan to surprise bothctually a very good shot. he made that shot from almost half court. pretty incredible. let's take a look at that again. well, it's a bittersweet time for us as well at ktvu after a long and distinguished career ktvu fan viewer favorite signing off, and warriors coach steve kerr. made the announcement during the game last night. it's so hard to welcome jason tonight. we're so happy to have you congrats on an amazing career and my foot through retirement. only ktvu sports director marco van is getting a little nod from coach kerr. he's retiring at the end of this month. he's been broadcasting ktvu for almost 43 years. covering every sport imaginable, including the 49ers and the raiders and the super bowls, the giants and the a's in the world series. he's a great storyteller, a great personality. he had rodriguez and his wife, tina, was there as well. mark is our friend and we're proud and happy, and we cheerlead for market. bond says he will be missed when he does. retired absolutely. we

my name is dominic curran, i i am a volunteer community first responder for the yorkshire ambulance servicewas that like for you? it was amazing, really. to see them support so many people here, which i probably would never have known even existed before coming here. but the amount of work that goes on behind—the—scenes is incredible to see, really, and so many people doing amazing stuff. when we were going through the pandemic, i did think about the mental health afterwards because of what they had been through. so i think that's a really big thing, and that can go on for a long time. so i think it's important that we keep supporting them. don't forget about them, really, just keep remembering the amazing work that they do do and they have done. and, yeah, that's again why i'm here, to give people a lift and try to support them in the best way i can. plenty more on that still to come, he's not stopping there. a real passion for helping people who worked through the clan to finding out what they might need next. —— work to the pandemic. time now to get the news, travel and weather where you