morgan jamie dimon shareholder questions and fed outlook for a soft landing. banker warning the interest rates could skyrocket to 8% amid skyhigh debt in international conflict. march cpi out tomorrow morning, ppi on thursday. all hands on deck for reaction to the inflation numbers, join us and stay with us as we join you with the preview this morning. first-quarter earnings season, the major bank supporting earnings on friday. we have a preview. take a look european markets, the s&p 100 and london is up a fraction, cat crown in paris is down, the tax in germany is lower by 123. in asia overnight markets finish mostly higher take a look at the story in the asian industries, the one weak spot was a korean index down half 8%. the prime minister of japan will be in washington this week, a steak dinner wednesday night a joint session with congress with the prime minister of japan the average up overnight. d.o.j. refusing to turn over the audio of his interview with special counsel robert hur despite a contempt threat from congress, the open border can't crisis, ho

jamie dimon has a stark warning. he says the economy is propped up by government spending and rising deficits. duh. the bigger question what should we do about it? i love to hear from you. tweet me @cvpayne. my takeaway on continued efforts to browbeat folks that their economy is great. all that and so much more on "making money." ♪. charles: all right, folks, a special show, the nation engulfed in total eclipse mania. we're talking about the path of totality, not just for the guys but for the stock market, moonshots, our star, we have all of that in today's show. i'm not saying there is a direct correlation but this is pretty intriguing. i went back to look at total eclipses going back to 1950 for the s&p. we've done pretty well. 5 l 49%. 63 up 19%. 1970 we were up. 72 we were up. we were only one once, 1990, down 7%. last one we had we were up 19%. maybe this will be a good omen for the market. of course the question is, at what stage of the rally are we at? i got to tell you something, changes on the ground have e

if jamie dimon is being patient, saying 8%, you remember last year at this time, jamie dimon came out with some sort of commentary, during the lows in pandemic, when a lot of his, you know, peers, bank of america and some others were, like, buying treasuries at those yields and he said, we were not doing that. so, you think of the problems that a lot of them had in their held to maturity books, and the like here. who knows how they're doing right now. because rates are higher. when we had regional banks go under. when we were talking the losses -- the mark to market losses, mind you. so, if we get an environment where, you know, fed funds is going to 6%, 7%, possibly 8%, you think about, okay, all these companies that need to re-fi at some point, all the tighter lending regulations. we spend a lot of time talking about private credit and the like here. there will be some devastation here,okay? it just has to happen. like, i just don't know how you could push off all the negative effects of the pandemic and all the stuff that went into it and then just push it out, right? there's been

we have a jamie dimon view.f course he looks at markets, he sees 70%-80% chance of a soft landing. is that your view as well when you take a look at the performance of risk assets? >> i would say that yes, and we are in the camp where there really won't be any form of a landing at all. we have kicked the can so far down the road that we are really looking at a fairly healthy, robust recovery. what that means is that we are not expecting anywhere near the rate cuts that maybe in the forecast earlier in the year. we do think that the fed will need to cat and we are mindful that we're any restrictive monetary policy environment and that the consumer has a bit of a disconnect with all of this cost of economic data. because of that, i remember that jamie dimon was also forecasting storm clouds and hurricanes on the horizon, and thankfully those never came to pass. it is definitely interesting hedging one fest at this point to suggest that inflation will be more prolonged but the european data which seems to be leadin

liz: jamie dimon. >> they tried to do it with jamie. >> i don't know if iss would go after buffett t would take huge you know whats to go after buffett but i've seen proxy advisors go after jamie, larry fink, ceo, chairman, ceo of blackrock. larry: brian -- brian mon moynihan. they usually get beaten back. the difference david solomon does not have the sort of track record those other guys have in terms of stock price although goldman isn't doing horribly in terms of stock price. i believe so far this year trailing the s&p but david solomon has had a couple of big blunders. i mean he has had problems starting the retail bank. they had to fold that. he had massive dissent in the ranks. there is an issue here about people leaving. everybody other day i'm reading something about people leaving there is also a thing about whether women are being promoted fairly inside or they have been held back. i'm not saying i agree with any of that. liz: this would get traction, many cases they don't? >> i think it is good odds it will get traction. mos

you also had jamie dimon, and john gray of blackstone. and for me, the story is pretty clear, japan important for technology. and, the economy. caroline: and broadly for big get-togethers of important players no matter where they tend to be based. this is where some conversations are had and deals are done. having had many intimate conversations but more luck -- but more broadly i like the star trek reference with the commentary out of the leader of japan. he was going to go boldly where no one has been before in terms of deepening the relationship. this is more broad. there is a delightful menu. love that. this is about deepening ties not just from an economic perspective but a geopolitical perspective and what has happened with the philippines and what this means for china-u.s. relations. poonam: i go straight to china -- stephanie: i go straight to china. when the ceos turn up, let us bring the menu back up. that is contemporary modern american japanese fusion. that looks great. there is also a political element. biden had a lot of big

you can't dismiss dimon's comments. we have the geopolitical concerns and the move in commodities is unsettling in and of itself in some respects. >> right. and to steve's point -- and this started last week. last week we got a lot of better economic data but the market wasn't up. i think that's a really interesting point because we're moving from this narrative we came into the year going to have a deflationary boom or disinflationary boom. inflation would continue to come down but earnings growth would be very strong. and now we still have the earnings growth story, but we don't have the disinflation story. maybe the narrative is shifting. maybe what you want to own is different, commodities, value over growth, you want to own the short duration over long duration. it's a different narrative. i feel the market is slowly moving to that other narrative whether that's right or not still is to be determined. >> jim, you still have a disinflationary environment. it's not like, you know, i get that a couple of the cpi and t

you don't usually ask jamie dimon.y actually comes first and that is where we started and we tried to open it up from there. caroline: you got him to speak about his family and you outside of both men and women and how ai is changing its business? emily: ai is a big part of the season as it's a huge part of your show. we can avoid it. one of the questions i had for him chatgpt i have 30 years what should i do with my money? it's already embedded in everything and learn more and more about you. what if you ask how to get rich quick and he said i hope it tells you that's impossible. ed: real quick, what are you doing this season? emily: we go to see mary barra in detroit. we get to know her behind-the-scenes. the founder of oculus in making drones, satellites, warfare. i think you will love it. ed: you can catch the full episode tonight here on bloomberg. caroline: coming up, regulation that could be coming up next month two. that's coming up. ♪ when people come, they say they've tried lots of diets, nothing's worked or

we hear from jpmorgan chase's ceo jamie dimon.e is looking to say inflation is deeper than expected. dimon said the growing need to increase spending in sectors and large amounts of deficit sending. jamie dimon said the bank has plans for rates as high as 8% and as low as 2%. we hear from the minneapolis fed president neel kashkari said they have to get back to 2% target warning the credibility is now at stake. >> we built up a lot of credibility going into the shock. we are seeing the high inflation, but we believe the fed is serious about getting it back down. that helped us get back down, but we have to go all the way. if we stop short, you will say they will stop short next time. >> and analysts are looking to cut bets. futures contracts for december now point to 60 basis points of cuts this year. that is down from 150 basis points slated at the start of the year. traders are split over when easing will split with the fmoc standing at 50% for the june meeting. the consumer inflation is s stabiliz stabilizing. concerns over deb

jamie dimon is a long-time democrat.y differ from certainly the lighthizer mode with regard to trade policy. >> i would tell you that the core element of being treasury secretary is dealing with china, trade policy, sanctions, on all kinds of enemies around the world. so you need somebody who is on the same page with regard to china and i'm not sure jamie dimon would be particularly -- david: not as far as blackstone. chase is -- you. >> really need somebody who is very similar in the thinking and an aggressive approach to china as president trump is. david: they're giving me a wrap but you're going to the trump event this weekend, right? >> yes i am. david: do you think he will make 32 million which is what he wants? >> let's hope so. the lord only knows the country needs a different direction, there -- david: you weren't always, you're not a never-trumper but you were not always just trump guy? >> i've always been pretty positive on the president particularlies as it relates to his economic policies. i think now especi

all spending let's not forget what forgiving student debt is more surplus what jpmorgan ceo jamie dimon is warming about you all shareholders letter high deficit spending may send interest rates soaring talks about stimulus out there, in his letter to shareholders writing think it is important to note that the economy is being fueled by large amounts of government deficit spending past stimulus this may lead to stickier inflation higher rates than markets expect huge fiscal spending trillions needed each year for green economy, the remill tarization told me in january singing the a while i don't think joe biden is getting the memo. >> where does fed fit in jamie right now priced in three rate cuts fwoibl or three in 2025 do you agree with that i am. >> i am a skeptic i look at a lot of things forget economic model, two trillion dollars fiscal deficit, the infrastructure, the green economy, the remilitarization of the world restructuring of trade all inflationary, that looks more 1970s to me, so i think there is a chance here that people should be prepared for inflation comes down bounce

but its ceo jamie dimon dulled hopes for interest rate cuts by the us federal reserve earlier this weektrong economic growth among other reasons. tim waterer, chief market analyst at kcm trade, gave us a sense of what to expect. i think we'll see solid numbers for 01, but there is this spectre of interest rates remaining higherfor longer and that could certainly cut into corporate growth later in the year, and i think that's whatjamie dimon is certainly alluding to there. so, i think the outlook for the corporates that will probably sway sentiment as much as the 01 earnings themselves. yes, the us interest rates, inflation do not seem to be heading lower — as many had hoped. how is this affecting the broader global economy and markets? that's right — the cpi figures that came out this week for march, they were uncooperative at best, and we saw the equity markets react negatively accordingly. so, i think we're seeing that inflation by its nature is non—linear and we are progressively, this year, seeing a pushing—out of that timeline of when we could see those rate cuts. going into the ye

stuart: the problem with jpmorgan is the ceo jamie dimon, on the call he warned about head wents like persistent inflation, possible wars and the federal reserve, he says they could all hurt the strong economy. not the bank operations itself but the way the bank ceo, powerful guy, sees the future. what do you say? >> maybe the markets believe what jamie dimon is saying about the overall environment but we all swim in the same water so i don't see why those forecasts would hit jpmorgan more than others. you might argue that jamie dimon is incorrectly going to prepare jpmorgan for a serious downturn but he said things things like this in the past. 18 months ago he was talking about an economic hurricane hitting the economy which never came to fruition but jpmorgan did very well. he didn't really prepare the bank for this terrible time so inflation headwinds continue, high interest rates, the economy looks like a risk, let's impact all stocks in general but white impact jpmorgan more than anyone else i would know. we are down 5% on jpmorgan. stuart: do you think jpmorganed thing jamie di

this is a meeting, who is this, dimon, my classmate, shpilenko, nikita, i sat at the same desk with himlso threw this shit, no, i didn’t have time, nikitos was the first to stand up, we had one boy between us, it’s good that i wasn’t the first, lucky in nature, i could have done it too, only with a quick call for witnesses to witness death , i don’t want to hang around here until the morning. lives.

. >> jamie dimon's warnings for investors. higher rates, and the profound implications of a.i. >>> we begin with news vonding a major supplier to nvidia. the white house announcing $6.6 billion for the company's arizona plants. under the commitment, tsmc is committed to adding a third complex. jim, we're talking some 20,000 construction jobs, there's money in here for workforce training. >> this is a big one, it's the ones that we really need. i don't know, we'll have to talk about how much they really feed. we don't have enough engineers to build these. david, you know that this is the most tenuous, we'll talk with sara about it, the most tenuous situation we have, which is we could lose access to this if china moves on taiwan. >> we could. >> that's a big threat. >> certainly important component of our concern if that were to occur. >> and supply chain. >> we've said so many times when it comes to high-end chips, tsmc is the de facto place to go. i heard your comments about intel on friday. >> we'll ask her about intel. the

at a number of figures, john pal john paulson, but outside of the box robert lighthizer and jamie dimon- he is a long time democrat. david: he may liver from lighthizer mode. >> a core element of being treasury secretary is dealing with china. trade policies, sanctions, on all kinds of enemies in the world, you need someone who is on the same page with regard to china, i'm not sure that jamie dimon would be particularly. david: not as far as blackstone. >> but you need someone who is very similar in the thinking and aggressive approach to china as drusm p president trump is. david: you are going to trump event this weekend. >> yes. david: they hope -- he will make 32 million. >> let's hope so, lord only knows kahnls -- the country needs a different direction. david: you were -- >> i have always been positive on president's particularly with r his economic policies, now over the last several weeks, economy like and culturally, we need a change, i feel very strongly. david: we need a fix that will take a lot of tooling. someone who knows how to fix things. >> that is donald j. trump. davi

jamie dimon has been telegraphing this, and we've been talking about jamie dimon versus brian moynihan, going back to that situation, a storm is coming and all that sort of stuff and moynihan kind of clapping back at jamie. i think what's clear, if you are choosing your fighter, it's jamie dimon. i know you already chose it long ago. it's interesting to me, when i think about jpmorgan's stock and where it was just a couple m months ago, it was at $220 -- >> it got to 200. >> jpmorgan? >> yeah. >> okay, 200. so, 200 down here to 180. down 10%. excuse me, sorry. so, just think about that, it's taking out a little bit of the froth. so, when we think is about the economy, to answer your question, okay , so, with saw yields go to where they are right now. a half of a percent or so move. the outlook for the economy has been okay. all the data, that's part of the problem. one of the reasons why yields have moved the way they are. jamie dimon has said, you know, expect rates much higher than here, or possibly. and so, i think the stuff that he's doing and the cautious optimism that he has abou

jawm emy dimon never if disappointed. think what we're seeing happening is lock in these profits mental i, right? jpmorgan's up 15% year to date. i'd love to see a pullback. i'm not selling my jpmorgan. i would be a buyer on this weakness. tawrt south okay. you've actually been expecting and hoping for a allback because you still think later this year we're going back up again, right? >> yeah, i do. look, every time the market, you know, we sell off 2.5-3% and all the buyers run in because this is the opportunity. that's not the opportunity. the opportunity's when the market's down 8 or 10%. that's the real buy the dip opportunity, but we never get a chance to get there, right? because there's all this money on the sidelines. people feeling like maybe they're bicycle to miss out to. it's tech, it's a.i., and so they run back in the minute the indexes are down nearly 3% and hay think they got a bar with gain. the bargain is still coming, in by -- my opinion, at least i hope it is. stuart: you're one of the few people on th

we will hear more there today from jamie dimon.dth. where is the leadership story? ken: it is a great question and we are speaking about investors in terms of when we look at the financial sector, six of the largest banks are in there. also return of capital comes up with the midyear june bank stress test. we think the banks well-capitalized. they are also building up their capital because we don't know what is going to happen with the end game which is getting pushback from congress that it is too onerous and has negative impact to the u.s. economy. i think what we have here, overweight on the financial sector anti-large banks are part of that story. we are going to see very health return of capital and probably we are going to get to comes of that at the end of june. lisa: sometimes people look at bank earnings and say it kicks off running season because it gives a tone of the economic outlook looks like. i am not clear on if there is a clear read of the economy going forward in these earnings. did you get one? ken: we did see cr

dimon issuing a warning. we may be entering the proper treacherous geopolitical eras since world war ii. he is concerned about the large deficit supported by kwaun tayl kwa quan quantative easing. he said this may be creating rfk to eclipse anything since world war ii. we should not take them lightly. >> it is interesting. jamie dimon is somebody who has been fairly optimistic about the united states and the economy. his concern about the geopolitical events is one echoed by other people who are optimistic if you talk to warren buffett. >> the letter is optimistic. we just hit on what i would describe as the news piece in the tonally, he is talking about a.i. this is 20 years since the bank won the jpmorgan chase which put him in charge of the company. the largest bank in the country, market cap wise. it goes to other pieces to it. it is a worthy read. >> there are a few ceos who actually write their own letters without worrying about lawyers and other people going through it and reading it and telling them w

>> it's the house of jamie dimon, led by jamie dimon in the front seat, trying to give off is larger-than-life message that he does every year. you can speculate on his tax trade or whatever else you want to do. he has talked about this before and others have talked about similar things. annmarie: there is a lot of questions swirling in washington after he made those comments in davos. he had lunch with vp kamala harris. someone in the white house quipped to me that the days of davos are long forgotten. one thing that stands out, the staggering inability of the government causes deep damage to our growth. we have heard a lot about this on our program. jonathan: and yet, here we are talking about an economy that remains resilient. best economy relative to europe and what's taking place there? lisa: michael put out a piece talking about how the deficit will grow for the republicans or the democrats. it won't matter because people can still chug along. this is the bottom line. how long before it matters? people can scream about it all they want and care, it doesn't mean anybody else will care. jo

and she directly reports to jamie dimon, and i think companies taking and doing things like that areper hyping up the actual -- >> i don't think it is here yet. >> i don't think a.i. is part of this at all yet. that's my opinion. >> you know the only place, college students have more time, because they don't have to write any papers. >> absolutely true. >> i ask you, great interview with anthropic yesterday, what can i use it for and you racked your brain and said on draft kings i might be able to -- >> that's the most important question it is not just -- tell me about this whiz bang technology. tell me what it is used for, how it is going to work its way into the economy and how we live. >> i can tell you how to use it. jpmorgan is using it to some degree, but i don't think it is taking jobs away just yet. but we talked about actually in finance, anybody or in marketing or anybody who is making a deck, you know, a power point presentation. >> for a merger an acquisition. >> for any kind of time you make a presentation to anybody, you know if you're a marketing company that has to tr

>> it's interest rates and jamie dimon thinks interest rates can go to 8%.e're talking about a gain of about 70% in terms of where interest rates are right now, stuart. they're barely even 5%. i'm buying pfix. this one goes up when interest rates goes up. it was up 60% back in 2022. you remember that's when interest rates rates soared and interest rate expectations for cuts reigned in this week. if interest rates go up, this will do quite well. stuart: pfix, buy it if you think interest rates are going occupy. jonathan hoenig, thank you very much. see you again real soon. have a good weekend. lauren's back looking at movers including especially a b lackrock. lauren: they reversed course and was higher after reporting a record $10.5 trillion in assets under management, but their inflows are slowing and falling because slimes are sitting on the sidelines and i wanted to say ceo larry fink says inflation is not getting back to 2% any time soon. stock down 1.3%. stuart: progressive. that's as an insurance company. lauren: stronger profit and thanks to digger dem

in a new interview, dimon cautioned citing sticky inflation rates.e said he is worried and inflation may thought go away as people expect. i'm not talking about this year. i'm talking about 2025 or 2026 >>> walmart announcing rob walton, the longest serving member of the retailer's board and oldest son of sam walton, is stepping down from the board walmart revealing it nominated the chipotle ceo brian niccol to replace walton if elected, he would be the fifth added to the board since 2017. >>> and paramount global and skydance are moving closer to a deal to merge the companies. sources telling cnbc the two sides are narrowing in on how to value skydance assets and how to merger the company those sources are adding skydance and equity backers are shooting to finalize the terms of the deal by next month. frank. >> interesting a lot of movement in the streaming space. a lot going on silvana, thank you >>> time for the big money movers shares of intel are sinking after the chipmaker posted mixed results and weaker guidance for the quarter. shares down 7.

you know, dimon also in that letter warned of a spike in inflation. we already knew inflation was higher for longer. tou know, we kind of winde knew that was going to happen c as a consequence of so-called free money. free moneyon of . a free. you can try to buy elections with it, but it's backfired miserably. el it buand jamie dimon warninge of the government spending that does nobecaust stop the sp, will not stop the stimulus that's already in system,illion by the way, that 1.9 trillion. >> we did not need as wt a couy this speed to become green overnight. ask germany how that's destroyed their economy. and it's a killer. almost are conspiring againstav the average american and thissel why when these pollsters whenlsa these economists come and sandya how you don't know how great you have it, it's because people do not have a great i you know, it's interesting, we got last late last week jobs numbers and the mob the mediaekd that the ty were beside themselves. these numbers are phenomenal. well, one thing is we get the numbers and then they usually g

another his accomplice, medvedev, the one whom dimon named, generally in connection with these eventst happened in crocus, macron, the french president, as the sponsor of the terrorist attack. in his post, on the x network, he literally wrote the following, which is obvious that... kron and a number of other western leaders are the sponsors of this terrible terrorist attack, there is no forgiveness for this, there is no hiding from immunity, and from now on they are not just enemies of russia, that is, all the public confessions, all the appeals of the islamic state that it was they who committed this terrorist attack, the kremlin does not accept at all, they say that that's all. the west initiated these terrorist attacks, and the ukrainians took part in the preparation of the terrorist attacks, well, as it were, an absolutely complete delusion that is believed in, except for dimon and vavan, no one else, you see, the whole world is simply horrified by these st. petersburg gopniks, by the way they try interpret the tragic events that took place in the moscow region. when the islamic s

terrorist attacks, well, as it were, an absolutely complete delusion, in which he believes, except for dimon and vavan, no one else, you see, the whole world is simply horrified by these st. petersburg hooligans, by the way they... . they are trying to interpret the tragic events that took place in the suburbs of moscow, when the islamic state attacked this shopping and entertainment center, moreover , they are using this tragedy to incite their fellow citizens against ukrainians and to create all the prerequisites for increase the number of mobilized people who are now going to the russian military commanders and say, we want to go and... take revenge on the ukrainians for the crocus city hall, what on the ukrainians for the crocus hall, what relationship does ukraine have to this, they survived at all, sorry, crazy and in his manipulations , all borders are simply already crossed, as the self-proclaimed president of belarus lukashenko, who survived the madness, is already scaring his officials that the west can overthrow his dictatorship and... and says that all those appointed to position

jamie dimon felt this way for a long time.the exact same thing in january, that he's skeptical of the soft landing, that inflation will stay high because of the fiscal spending and he's right. look at the fiscal spending, talking about the inflation reduction act, fees call responsibility act, forgiveness of student loan act, chips act, green energy tax credits, adding up to $7 trillion. the fed is fighting the fiscal money coming at you. i want to ask about the independence of the fed. i feel like i'm reading the washington post this morning with this article in the journal. the wall street journal is writing that the former president trump's allies are drawing up plans to challenge the fed's independence, urging that the president should be consulted on rate decisions. this is what the wall street journal is writing this morning. meanwhile, it was president biden who had all these opinions about the fed and a seems to be publicly egging on jay powell to cut interest rates. here's joe biden just a couple weeks ago. watch this

so right now you can argue we are on borrowed time, and that's what jamie dimon argues. >> dimon takes issue that the market priced in a given that you are going to have a soft landing. he said markets price in 70 to 80% chance of that, and i am paraphrasing a little bit. he is concerned about rates soaring 8% in the coming years. >> that's my point. it's already assuming a soft lapding and it's already assuming the economy will be going as strong as it has been. what will be the surprise be? the surprise could be that the economy slows, that we are seeing more and more people come back to the workforce because they have depleted their earnings and now they have to earn more, and that's a good thing because it brings down labor costs. the point is there's lot that has to go right in that scenario. isn't it amazing over the last month we have seen rates back up despite the geopolitical risks, and despite the risks from last week where iran is saying we are going to retaliate and what that could mean for oil. maybe that's the bull case for rates in a backwards way that you find a soft la

caroline: jamie dimon's annual letter to shareholders out, and guess what the focus is?rtificial intelligence. why he is once again calling it out in his letter with sonali basak. 2019 was the first time he mentioned artificial intelligence in his letter, but this time, it is the key driver. sonali: it is the scale and scope in which he mentions it that is different. we know jpmorgan has invested a lot of money in this. what is different this time around? the scale at which they are using it. use cases have jumped from about 300 a year ago to about 400 now. importantly, the number of data scientists and machine learning experts have also been rising at jpmorgan. interestingly enough, last year when he mentioned artificial intelligence, it was one of the specific issues, but it was still behind climate. this time, he listed as the first and foremost issue for j.p. morgan ahead. caroline: to put finer detail on it, what was it, 2000 machine learning experts they hired, and an admission that the talent pool will have to change. he is willing to say there have to be jobs los

mantokh, jump up, stand, stand, stood up, stood up, carefully, dimon, you’ll kill me, won’t you answer water in the back seat, please bring it, what did you do, what are you doing? yes, for that, yeah, thank you, he, i, i don’t know, in my opinion he, in my opinion, yes, you girls took the bag away, they gave it to him, quietly, quietly, it’s better to see, i see he has a mole, i found out where the money is maybe not you, oh well, calm down, what is this , i don’t know, a phone, a phone, i see, oops, what is this, what is this? what is it and you are apparently a business guy, yes you carry two phones with you yes this is mine this is my phone this is definitely not i had much less i have a salary for breakfast take it take compensation dimon suddenly we won’t find the bag with listen in my bag passport, where did i get the bag, i didn’t have any bag, where was i, and did you really give me this phone, who ran away, last time he asked where the bag was, but i’m in natore, listen, be quiet, what are you, hey, uh, are you some kind of animal? the hospital worker and the young man, where

your thoughts. >> i was looking at the comments from jamie dimon.e. he was clear about that he talked about deficit spending on a federal level and then he also talked about the issue with global conflicts around the world but certainly again, as kelly highlighted and we talked about in the last hour, it was that net interest income story and kelly's right. look, we had silicon valley bank fail last year. we're going to have mnt bank on monday, new york community bank. there's some concerns about some of these regional names. we've got $929 billion in commercial real estate loans, maria, that ar due this year. i know we talked about it a year ago and the world didn't end and we had good market year but i'm going to say it again. there are worries about these regional banks and there's one bank in particular that -- if they've got the value of a commercial property and that thing falters, and the value is less than what the loan is, that's a bad flip for the bank so that's my kind of insight into next week as i'm waiting on citigroup right. maria: we

surface about the questions potential jurors are being asked, the new economic warning from jamie dimon, the head of america's biggest bank. >> could 8% interest rates be in america's future? our expert weighs in. >> a woman pleading guilty to poisoning her husband's coffee. the surveillance video showing the crime and what her lawyer said in court. >> plus, the traffic jams clogging highways with eclipse viewers heading home. amazing. amazingly beautiful. >> once in a lifetime. >> beautiful. >> the once in a lifetime event, leaving millions of americans in awe when to expect the next eclipse in the u.s. >> and it's back to back for connecticut as the huskies win the ncaa tournament. it is a uconn coronation. highlights and celebrations well into the morning. >> from abc news in new york this is america this morning. >> good morning everyone i'm andrew dymburt and i'm rhiannon ally. >> we begin with a foiled plot to launch a terror attack on us soil. an idaho man is under arrest, accused of planning a suicide mission targeting local churches on behalf of isis. >> abc's christiane corder

you still have people like jp morgan ceo jamie dimon an outlier, putting doubt in it.spoke yesterday at the new york economic club and he's calling the u.s. economic boom unbelievable, saying that even if we go into recession, the consumer's still in good shape but he's warning that on the inflation front we're headed back to the 1970s. that's what he told me back in january. he is still saying that, he spoke yesterday about u.s. policy at the economic club of new york yesterday. your thoughts? >> first, i shouldn't be shocked. he was dead wrong on the economy. he said we have to be concerned. i think anyone should be surprised with jay he my. jamie. we do have right now a lot of turmoil in the middle east, this happened in the '70s, oil prices spiked and take was a big problem for the economy. back then we were oil dependent on the middle east. today we're oil independent. so we still have prices basically beating out wages and that was a big deal. you had stagflation, slow growth, high inflation. today it's like the opposite. we have phenomenal growth, we're tracking

this is what jamie dimon specifically said in that letter to shareholders he said a lot. on this on the cancellation of liquefied national gas projects the projects were denied mainly for political reasons to pacify those who believe gas is bad and oil and gas projects should simply be stopped. this is not only wrong but enormously naive. you go to this whole push for evs china is doing it and there will be ahead of us if they don't keep up while china does not have the energy resources we have isn't that the whole point? and we are ignoring it here? >> this is a great topic because we know we are at all-time historic highs in energy production for oil, gas, and renewables. >> sandra: biden administration has taken a lot of heat for that. >> i'm glad steve gave me that softball saying we are energy independent the most we've ever been. and we have the highest production the most we've ever been with respect to jamie's comments. listen, i am for an all in energy approach so steve and i agreed on that for years. i am also in agreement that we should export lng. he is refere

we did, of course, hear from jamie dimon talking about a booming economy.ing a -- winners. my sue hoe likes the stock. stuart: thank you, taylor. we're down a mere 17 is points. dow winners, there are some. let's have a look at them, headed by boeing, visa, intel, microsoft, nike all on the cup side, all dow stocks and winnersers. s&p 500, tesla, hasbro, web -- boston scientific, what is that? [laughter] >> i don't know, stu. stuart: i don't know that one. tesla, though, that's up 11%, and and that's a winner, right? nasdaq composite, the winner there is tesla, up to $1 is 61. costar, texas instruments, on semi. did i get all of that right? >> you did. on semi and analog are good chipmakers. stick with those. stuart: the 10-year moving up, 4.63%. the price of gold moving down again, off $6 at $2335. bitcoin hovering around $66,000, and it has been for a week. oil, low $880 a barrel -- 80 a barrel area, $82 a barrel now. nat gas always a below $2 and still is below $2, 1.74, to be precise. a gallon of regular gasoline, $3.66 on average. for diesel the averag

don't miss the best of their interview with jamie dimon. that conversation later in the show. this is bloomberg. ♪ >> >> welcome back to bloomberg daybreak: europe. the u.s. as it will impose new sanctions on iran. they are pushing into a wider conflict and an unprecedented attack there. patrick has been following all this progress. the key question is what significance the sanctions really are. is this merely symbolic for the u.s.? >> that is right. it was specifically intended because there was the nation -- the nature of this attack that you mentioned. the use planning similar moves. as you say, iran has a long track record of dealing with sanctions. it is a heavily sanctioned place. it has a persistence economy is done finding ways around them. i think the symbolism is much more important in this case. it is more of a diplomatic signal to israel. it is saying we are acting immediately in the days after that attack. therefore you don't need to go so hard in your planned military response to that attack. take this as a message of support and feel reassured that we are here f

in his annual letter to shareholders, jamie dimon, the head ofjpmorgan chase, said his bank is preparedor interest rates to jump because of "persistent inflationary pressures". central banks around the world have been busy raising rates in a bid to dampen rising prices. but with us inflation gradually easing, the overwhelming expectation is for the federal reserve to cut rates this year. markets are pricing in two quarter—point rate cuts in 202a. in the middle of this uncertainty it's perhaps no surprise that small businesses in the world's largest economy are not feeling too optimistic. the latest survey of small businesses in the us shows that confidence among them slipped to the lowest level in more than 11 years in march. a quarter of the owners said inflation was their single most important concern. from small businesses, to aviation giants. three months after a door plug blew off a boeing plane mid—flight, the us airplane maker is facing increased scrutiny. now, the federal aviation administration is investigating a whistleblower�*s claims that the company took shortcuts that impa

maybe jamie dimon peeked at that. the hour with some of our favorite reporters and friends. jonathan muller staff writer for "new york times," byline on that extraordinary new piece of reporting i just read from. also joining us former u.s. deputy national security adviser under president barack obama ben rhodes is here. and adviser for united to protect democracy, the aforementioned and quoted dr. rachel kleinfeld is here. let me start with you, jonathan. it strikes me that there has to be someone in some of the smartest companies in the world run by some of the smartest people in the world working in a padded room who has to leave his phone outside the way you do when you go into a sit room, looking at what happened to the economies of hungary and russia when they took their tilts toward full-on autocracy simply because that's what trump is saying he's going to do. but over and over again i hear no, no, no, no such thing's happening. what did you report out? >> yeah. i mean, i think you're right, it's hard to imagin

jamie dimon in 2020 was supporting, they allowed that sort of message. it was all over the media.ow he is no, he is red-blooded american. he just wanted, didn't want to block the guys behind him. >> what a difference a couple years make. in 2018 google let the tail wag the dog. employees were furious with some government contract. they turned around. fired 28 employees. investigated a bunch much others. these people came in. they did a sit-in in blocked executive from the google cloud assistant. >> this should not happen. liz: deface company property. these are employees. google said we're done, you're done. >> google used to have all those catchy woke sayings, right? do no harm for them? liz: do no evil. >> do no evil. wait a second. liz: they're punishing these people now. this is a change. >> google fired a programmer, i think is name is james denimor, they fired him after he wrote something basically said of the company is too woke. they fired him. liz: that was then. >> i'm saying. liz: pichai is in, it is a different sheriff in town. >> no. two weeks ago they were, they were

jpmorgan ceo jamie dimon says it's quite clear the american economy is strong.argeoffs are normalizing. he also says there are some cracks in subprime auto. this is all coming out of the call this morning. of course, we know at the ceo of jp morgan has been quite skeptical of a soft landing, and if he has talked about the stimulus money keeping inflation at a elevated levels. the stock this morning was up 3.5% despite beating earnings and revenue expectation, but coming in a little light on net interest income. we'll keep following the banks. a lot more next week, join us for the rest of the first quarter earnings reporting season. that'll do it for us. i will see you tonight on maria bart row -- bartiromo's "wall street. have a good one. stu, take it away we. stuart: all right, good

if it is not larry fink, not jamie dimon. during the george boyd protests he said donald trump did a lot of good stuff during his presidency and took a knee in the famous photo that has been circulating, now that they are excused, a lot of people behind him. take that for what it is worth. a lot of these firms embraced woke capitalism, go woke go broke comes out in august. hard to put the genie back in the bottle. goldman sachs, there's a pronoun guide, certain pronouns, i suggest you look at it. i don't want to describe it. go to goldman sachs, you can make a determination. neil: can't wait to hear that book. going up on the senate to vote, it could lead to the ban of tiktok, the spec commissioner. ♪ the best advice i ever got was to invest with vanguard for my retirement. the second best? stay healthy enough to enjoy it. so i started preparing physically and financially. then you came along and made every mile worth it. hi mom. at vanguard you're more than just an investor, you're an owner. helping you prepare for today's l

dimon, i think? >> mr. dimon excuse me. >> dimon maybe it is jamie.now. >> i was going to say, do you want to weigh in on what's going to happen if the federal reserve is no longer independent >> or have 15 supreme court justices what the other side looks to do. >> i thought you didn't like talking about politics >> anything that we read, we will take -- like it's fact. talk about it until we realize we'll never talk about it again. talk about it a lot today guaranty. >> sure. >> worried about independence of the fed or the 45% long-term capital gains rate which is worse >> oh, man probably the 45% capital gains rate, but there's always way to figure out how to navigate new changes. >> which is more likely? thank you. >>> coming up, former white house coordinator on the progress of the president's chips and science act. plus the inflation gauge at 8:30 investors watching pce data closely for any signs of what jay powell may do in the future. assuming he's still -- >>> "squawk box" will be right back. it's time to feed the dogs real food, not highly pr

maybe a little poly anna but that's jamie dimon. stuart: thanks, ash. you've got to look at this. city can now get free lawyers. can you believe that? well, that's new york and that's america. the full story coming up. biden authorized hundreds of thousands of work permits for venezuelan migrants. one restaurant owner in chicago says that's offensive and it's unfair. that business owner joins us next. stuart: nice gain for the dow and up 303 points and solid nasdaq up 9 o 0* and s&p up 306789 we got green today and lou basenese along for the ride for the hour and he's got stock picks. dock u -- doc u sign? is that oj simpson's lawyer? >> no, we use that multiple time as day and that's true of my businesses. in a tough tape and a market where we're see ago lot of red, want to focus on companies that are consistently putting up e arnings growth and docu sign has come up with that. stuart: couldn't they be a ffected by ai? >> they could but it's a great opportunity and they're integrating ai into technology and making the verification of signatures that much more trust worthy so it's

of course, what their chief executive officers, in particular jamie dimon, say about the market willwatched. jamie dimon talked about how the markets are pricing in a potentially 80% to 70% chance of rates lowering. he also said given the inflationary pressures the market is facing, we could see anywhere from 2% to 8% or more and that the bank was prepared for that. haidi: there are concerns over money laundering controls with regulators. >> that's right. in a way, not all of this was new. we know the federal reserve was looking to see if morgan stanley's business was taking adequate measures to prevent potential money laundering. at the time, it was reported the regulator was prepared to improve controls and processes. today we learned it's actually the sec, occ, and some other u.s. treasury department offices, digging into it banks did enough due diligence. what we don't really know is why the huge share drop given the aspects of the probe already known and the bank has made some regulatory disclosures and filings. we also don't really know the timing or period of things these appl

jamie dimon is suggesting interest rates there could hit 8%.a disparity and why the two heading in such different directions?— heading in such different directions? �*, , , y�* directions? it's because they've been hit by _ directions? it's because they've been hit by two _ directions? it's because they've been hit by two very _ directions? it's because they've been hit by two very different i been hit by two very different shocks, the pandemic but also the war in ukraine. the latter is something the us is not much experienced in terms of gas prices, but also fiscal policy has been really different with germany and france tightening fiscal policy as a response, while the us is still running up deficits. that indeed is driving business cycles far apart and that is the reason for it. what and that is the reason for it. what are the reasons _ and that is the reason for it. what are the reasons is _ and that is the reason for it. what are the reasons is there _ and that is the reason for it. what are the reasons is there for- and that is the reason