for their current plan to work will require a lot of luck. >> this is "balance of power" with david westin from bloomberg world headquarters in new york, welcome to "balance of power." president biden has returned to the united states from that trip to europe, but not before he gave a historic speech in warsaw. he came back today to release his budget for 2023. to go over it all we turn to our washington correspondent joe mathieu, host of "sound on" on bloomberg radio. we have to go back to that speech in warsaw for a moment because it was historical. it was very powerful, very

that is a conversation that david westin will be having an a few minute.e joining him on balance of power. guy: i am going to bloomberg radio as well. christina joining me. this is bloomberg. ♪ at xfinity, we live and work in the same neighborhood as you. we're always working to keep you connected to what you love. and now, we're working to bring you the next generation of wifi. it's ultra-fast. faster than a gig. supersonic wifi. only from xfinity. it can power hundreds of devices with three times the bandwidth. so your growing wifi needs will be met. supersonic wifi only from us... xfinity. >> from the world of politics -- >> i think it is part of what he wants, but he needs a hat that says make russia great again. >> to the world of business. >> it would increase taxes overall by $2.6 trillion in new revenue. it is a massive tax increase. but this is balance of power with david westin. ♪ david: to our audiences worldwide, welcome to balance of power. we start with the white house where there is already big announcement today. it was about oil and the re

wall street week is next with david westin.from the federal reserve, i know they will touch on it. plus we listen to today show on the bloomberg technology new podcast. you can find it on the terminal as well as online. have a great weekend, everyone. this is bloomberg. ♪ >> the fed, inflation, and war in ukraine are all coming together. this is bloomberg wall street week, i'm david westin. larry summers on the fed playing a tough hand. >> i think they are recognizing that they are behind the curve. i think they've still got a long way to go. david: blackrock on the federal reserve during multiple crises close to the zero bound.

announcer: this is "balance of power" with david westin. bloomberg world headquarters in york to our television and radio audiences worldwide welcome to "balance of power." yesterday at this time we were thinking maybe there was some hope for discussions between ukraine and russia. today does not look like that is developing the way we hoped. president biden has been talking with president zelensky of ukraine. we turned to joe mathieu, host of "sound on." it is too early to get a readout but from your perspective at the white house, what is on the agenda between president biden and president zelenskyy? joe:

sam zell joining david westin. i will take a turn at bloomberg radio as well.w taking to the air at the top of the hour. a huge day for european equity markets. we will certainly discuss that. this is bloomberg. ♪ >> from the world of politics -- >> we are reinforcing all of the baltics and poland with nato forces as a deterrent. >> to the world of business -- >> we are trying to bring something but it is a new version. the old and the new version. >> this is "balance of power" with david westin. david: from bloomberg's world headquarters in new york to our tv and radio audiences worldwide, welcome to "balance of power." we start again today with ukraine. as the conflict continues we hear from the defense department russian troops may be encircling kharkiv even as some people look for a diplomatic solution. we turned to joe mathieu at the white house. bring us up to speed on where things stand with ukraine. joe

labor shortage as much as a shortage of good high-paying jobs. >> this is "balance of power" with david westinerg world headquarters to our television and radio worldwide, welcome. president biden continues his trip in europe where he is addressing issues military and humanitarian. annmarie hordern is traveling with the president and we go to her in warsaw, poland. take us through the day. annmarie: he is in a neighboring town close to the ukrainian border and getting

shery: i was bill dudley speaking with david westin.t is time for morning calls good the recent rebound in u.s. stocks is a bear market trapped at the call from bank of america. strategists say that warning signs are flashing for the market, given the weaker u.s. fundamentals. the january selloff is not over, start rallies are common in volatile bear markets and the tightening dead is not likely to -- fed is not likely to rescued stocks. china's equity is overweight from underweight. it has drawn a line in the sand for me meant equities. this is to boost sentiment in the next three months. haidi: coming up next, the bank of china has reported the biggest profit increase in over a decade. he tells coming up, this is bloomberg -- details coming up, this is bloomberg. . ♪ >> russia says it will cut back military operations the ukrainian city of kyiv. this comes after negotiations in turkey. it could pave the way for a meeting between vladimir putin and the printing president. moscow's announcement is being met with hesitation. patrick hark

coming up in just moments, larry culp, ge chairman and ceo will be joining balance of power with david westinmes to the u.k. in london, dab digital, guy will be hosting the cable at the top of the hour. 12:00 in new york and 5:00 in london. we have to check on the markets. we are off session lows but still down hard when it comes to u.s. equities. the nasdaq 100 off about 2%. bond yields up after the cpi data. the 10 year yield is back at 2%. from new york and frankfurt, this is bloomberg. ♪ >> from the world of politics to the world of business, this is "balance of power" with david westin. david: from bloomberg's world headquarters in new york to our tv and radio audiences worldwide, welcome to "balance of power." we begin again today with ukraine. we have had those disappointing talks between representatives of ukraine and russia in turkey. in the meantime the white house is busy at work with a schedule call with president erdogan of turkey this morning and then this afternoon with the president of columbia. for the latest we turn to our washington correspondent joe mathieu, host of sound

david westin will be joined by democratic congressman john garamendi of california. turning my attention to bloomberg radio. live on bloomberg on all your bloomberg devices and on dab digital radio. we will monitor all of the events with the fed and the address from the president coming up. this is bloomberg. ♪ announcer: from the world of politics to the world of business this is "balance of power" with david westin. david: from bloomberg world headquarters in new york to our television and radio audiences welcome to "balance of power." we start with ukraine where we heard from president zelensky addressing a special session remotely of congress but also addressing resident biden and what he needs. we look forward to president biden due to speak at 12:30 eastern. perhaps in response to what we heard from president zelensky. to set this up welcome joe mathieu. thank you for being there at the white house once again for us. give us a sense of this almost response president biden will have to give to president zelensky. joe: a bit later on

. >> this is "balance of power" with david westin. g world headquarters in new york to our television and radio audiences worldwide, welcome to balance of power. ukraine remains at the center of the news with president biden talking to his counterparts in germany, france, and great britain earlier today. a possible oil embargo on the agenda. we welcome joe mathieu. ray to see you at the white house. give us a sense of what we know about the discussions behind the scenes. joe: we

the former secretary of defense joins balance of power with david westin. stick with us.ues. ♪ >> from the world of politics -- >> i believe we are in a decisive phase of this campaign. i believe russian forces will culminate. >> to the world of business. >> we're doing everything we can to get the raw materials and supply chain and place -- in place. >> this is balance of power with david westin. david: from bloomberg world headquarters to i television and radio audiences worldwide, welcome to "balance of power." let's start today on capitol hill we have the second day of confirmation hearings with judge ketanji brown jackson with the senators getting to ask your question as opposing to opening statement. for now we turn to our washington correspondent, joe mathieu, and thanks so much for being up on capitol hill. what have we? learned of anything so far today? joe: we are just getting going. we are about three hours into the session so far. do your point. this is day two and the

i am joe mathieu in for david westin. invasion of ukraine where a large convoy of russian troops is moving slowly towards kyiv. as fighting intensifies. we are joined by bloomberg's washington correspondent annmarie hordern. i would like to start with this story you helped break. the iea confirming what you told us, a massive coordinated release of oil from strategic reserves. annmarie: the fourth time ever in their history they are doing this once again, a drawdown of reserves. what is going to happen is that 30 million will come from the united states.

. >> this is "balance of power" with david westin. david: from bloomberg world headquarters in new york to television and radio audiences, welcome to "balance of power." the crisis in ukraine remains very much in the news with the latest being that the united states imposing a petroleum ban. president biden talked about this. joe mathieu was on the scene thank you so much for being with us. what is the significance because we do not import that much crude from russia joe:, do we? joe:that is a good point, it is about 3%

he was on balance of power with david westin today when the news broke of joe manchin's opposition ton. david asked him, what does this mean? does this mean she will not get nominated, or confirmed i should say. here is what senator joe manchin said. >> it probably does as a practical matter. not aware of any republican support for ms. raskin. kathleen: senator manchin also said ms. raskin is not addressing the need to finance the u.s.'s critical energy needs. with the war in ukraine, there's concerns about getting oil in the market, so that might put power behind that statement. raskin said the federal reserve has no place in allocating capital in industries. why is this important beyond sara bloom raskin? there are four people waiting to be confirmed at the fed. the chair, vice chair, and william jefferson for the board of governors. it is something that holds up important nominations. it doesn't mean the fed cannot do its job, but there is a lot going on beyond sara bloom raskin. haidi: markets are pricing in seven standard rate hikes this year. is this the messaging we expect from

coming up next, senator pat toomey of pennsylvania joins balance of power with david westin. radio, the cable is taking to the air at 5:00 in london. there are only four hours for the next as two between london and new york. we are live on dab digital radio and you can also find us on your bloomberg terminal. there are podcasts available on spotify and itunes as well. we will continue to follow all of the news for you and watch what is happening in terms of the details surrounding this potential joe biden trip to europe. in terms of the market, the nasdaq down 1%. the s&p still flat. 4206. this is bloomberg. ♪ if you're a small business, there are lots of choices when it comes to your internet and technology needs. but when you choose comcast business internet, you choose the largest, fastest reliable network. you choose advanced security for total peace of mind. and you choose fiber solutions with speeds up to 10 gigs to the most small businesses. that's virtually everywhere we serve. the choice is clear: make your business future ready with the network from the most innovat

i'm david westin. larry summers on the washington embargo on russian oil. gher prices of gasoline are the price of freedom, it is a price that this generation of americans should pay. david: the ceo of equity group investors on what war in ukraine has made on investable -- uninv estable. >>

i am david westin.arry summers on being caught between a rock and inflation and a hard place of recession. larry: i share the chairman's hope that a soft landing as possible, but i do not think it is something to count on. david: bank of america on corporate america coming to terms with zero omissions in a time of war. >>

. -- power with david westin. bloomberg world headquarters in new york tower television and radio audiences, welcome to balance of power. equities and bonds are both up today on news coming out of istanbul that there may, and i say may, be a little progress in discussions between ukraine and russia. her reaction from washington, specifically the white house, we turn to joe mathieu, host of sound on, weekdays on bloomberg radio. thank you for being there on a cold sunny day by the white house. is there any reaction to what we are hearing? joe: not officially yet. as a matter of fact, while the markets were cheering these headlines coming from istanbul from the russians, the president was meeting with our allies from europe. he had a call this morning with leaders of the u.k., france, germany, italy. we w

secretary of defense joining "balance of power" with david westin.n you can hear the cable show. we will be on the air at 5:00 p.m. on dab digital. from gina and myself this was bloomberg markets. this is bloomberg. ♪ at xfinity, we live and work in the same neighborhood as you. we're always working to keep you connected to what you love. and now, we're working to bring you the next generation of wifi. it's ultra-fast. faster than a gig. supersonic wifi. only from xfinity. it can power hundreds of devices with three times the bandwidth. so your growing wifi needs will be met. supersonic wifi only from us... xfinity. >> from the world of politics -- >> frankly i am tired of the russians telling us what is provocative when they are slamming artillery shells into residential buildings. >> tilde world of business -- >> to get to a point where inflation is so high and so entrenched the only way to rooted out is engineering a recession. >> this is "balance of power" with david westin. david: from bloomberg --david: from bloomberg's world headquarters in ne

david westin is joining us on the phone. rough your view of the move from the administration. david: it was not unexpected. it will be 1 million barrels additional from the reserve per day for the next six months, which will reduce the reserve my about1/3. they said it will take the money they get from selling the oil and put that aside to buy back oil in the future. the big issue for the president is what is going on at the pump and the pressure being felt by consumers and the inflation. i think that is primarily what he is responding to. guy: david, the administration has a lot of options. i wonder why it is picking this one. they could pick up the phone to saudi arabia, maybe convince opec to produce more oil. that is not happening. why are they taking this option? david: it is the most immediate thing the president has complete control over. i would be surprised if they were not trying to behind the scenes persuade saudi arabia. saudi arabia's priorities are saudi arabia and controlling the level of oil, production and pr

from the world of politics to the world of business, "balance of power" with david westin.eekdays. this is bloomberg. ♪ >> the near term effects on the u.s. economy of the invasion of ukraine, sanctions, and events yet to come remain highly uncertain. making appropriate monetary policy in this environment requires a recognition that the economy evolves in unexpected ways. jonathan: chairman powell of the federal reserve, day one on capitol hill. day two later today. from new york city, good morning. futures negative. the s&p trading lower by .1%. the move we have seen in crude, just a monster move. the ti -- wti at 113. -- $113. yields have come back a couple of basis points after blasting high yesterday. for a fourth straight session tom, can't get away from it, euro weakness. tom: very fragile. we are watching it take by ticket. jon, i would suggest that 110. 81, the euro is resilient. jonathan: this is brutal, the inverse correlation with what is happening with crude and the euro weaker, that is vicious for the inflation story. tom: there is no question about it. the dyn

. >> from the world of politics to the world of business, this is "balance of power" with david westinworld headquarters to our tv and radio audiences worldwide, welcome to "balance of power." we begin today in washington where a stronger than expected february job support came in this morning, overshadowed by the war in ukraine. for the latest, let's go to annmarie hordern at the white house. calls are growing louder on capitol hill it up to nancy pelosi to ban russian oil imports. the white house says they are not on board with this idea because it would send oil and gas prices higher. how much longer can they hold that position? >> we have to wait to see how long they are willing to go this far

. ♪ >> this is "balance of power" with david westin. ♪ david: from bloomberg world headquarters to ie, welcome to "balance of power." the yield on the u.s. treasury, two's and 10's up more than nine basis points today. the bond market has been looking carefully at the chair of the federal reserve as he addresses the neb, that will be coming up in 30 minutes. there is another big story right now, that is the confirmation hearings of judge

. >> this is "balance of power" with david westin. rld headquarters in new york to our tv and radio audiences worldwide, welcome to "balance of power." president biden is in brussels right now meeting with allies. he is due to meet with european council a short time from now talking about what more can be done to put pressure on russia with its war on ukraine. annmarie hordern is with the president in brussels. a short time ago she had an interview with the pentagon spokesman john kirby about what the u.s. is doing in deploying forces and what more could be done. mr. kirby:

. >> this is "balance of power" with david westin. world headquarters in new york to our tv and radio audiences worldwide, welcome to "balance of power." the subject once again is ukraine. the focus today is in washington and beijing in the call that happen for about an hour and 50 minutes between president biden and president xi of china. to bring us up to speed on what we know and what we don't know we turned to emily wilkins of bloomberg government. thank you for being here. if we know how long it lasted. other than that we are only getting one side. emily:

kkr head of global asset allocation will be joining balance of power with david westin on bloomberg television ♪ at xfinity, we live and work in the same neighborhood as you. we're always working to keep you connected to what you love. and now, we're working to bring you the next generation of wifi. it's ultra-fast. faster than a gig. supersonic wifi. only from xfinity. it can power hundreds of devices with three times the bandwidth. so your growing wifi needs will be met. supersonic wifi only from us... xfinity. if you're a small business, there are lots of choices when it comes to your internet and technology needs. but when you choose comcast business internet, you choose the largest, fastest reliable network. you choose advanced security for total peace of mind. and you choose fiber solutions with speeds up to 10 gigs to the most small businesses. that's virtually everywhere we serve. the choice is clear: make your business future ready with the network from the most innovative company. comcast business. powering possibilities™. ♪ >> from bloomberg headquarters in new york to audiences wor

language] >> from the world of politics to the world of business, this is "balance of power" with david westinerg world headquarters in new york to our television and radio audiences, welcome to "balance of power." president biden is on air force one wending his way to sunny brussels for his tour of our allies and what can be done further in the ukraine war. our very own washington correspondent emaar harder is in brussels, annmarie hordern is in brussels. set the stage for us. what are people expecting from president biden? annmarie: president biden will be rallying the troops in terms of his nato partners. the g7's meeting, as well as the european union. 3 key meetings for the president tomorrow before he goes to warsaw,