franklin templeton has more than $1.5 trillion in assets under management. that's across all those asset classes as well as a few others. founded back in the 1940s by rupert johnson. and for the last three years, it's been led to the person sitting to my left, jenny johnson. the president and ceo of franklin templeton. great to see you here on the milken stage. thanks for having me. let's start off here. there really isn't much debate about the actual policy rate. most people expect that to go up by 25 basis points. when we get that decision in an hour. but people are looking for a little more clarity about whether this is actually the end or at least the pause in that rate hiking cycle. so i think my view is, is that it is a pause that they're going to do the 25 and then pause and just keep time for the markets to absorb, you know, the rate increases and, you know, we do know that the pace in which this this these rate hikes have happened has caused stress in the banking system. and so letting it pause for a while and sort of letting that filter through, i

that was jenny johnson, franklin templeton president and chief executive officer.ally interesting conversation on the ground for us at jp morgan's annual global markets conference in paris. the big one coming up, we will be speaking to jamie dimon, the ceo and chairman of jpmorgan chase at 1:15 p.m. u.k. time. koppel -- a couple of lines crossing from nissan, the japanese automaker upgrading their forecasts in terms of full-year operating income profit, well above the estimate. operating profit expected to come at ¥520 billion, a full ¥120 billion above the average estimate. there are still question marks for this automaker around margins, the transition to ev's particularly in that chinese market, and whether or not they can get back to full production. they are expecting 4 million units to be delivered this year and it has a production capacity of over 5 million units. the overall full-year operating income profit coming ahead of estimates for nissan. coming up, disney is seeing a wide loss in its streaming business after losing subscribers for two straight quart

jennifer johnson, franklin templeton investments president and ceo, looking forward to that.lon musk switches gears, tesla considering adding advertising efforts to reach more buyers. details on the startup. we will take you to san francisco, 20 past the hour, this is bloomberg.. ♪ if your business kept on employees through the pandemic, getrefunds.com can see if it may qualify for a payroll tax refund of up to $26,000 per employee, even if it received ppp, and all it takes is eight minutes to get started. then we'll work with you to fill out your forms and submit the application; that easy. and if your business doesn't get paid, we don't get paid. getrefunds.com has helped businesses like yours claim over $2 billion but it's only available for a limited time. go to getrefunds.com, powered by innovation refunds. alix: 22 past seven on the west coast. we are catching up with stories from silicon valley. running us is ed ludlow. good to see you. elon musk is thinking about advertising for tesla. ed: i don't know if that means if you are driving down the 101 in california, you a

franklin templeton, and the french group rothschilds, enco, which has long been operating in ukraineroup was engaged in financial consulting with an eye on pharmaceuticals and agriculture in the financial market, the rothschilds company was a leader in the m&a segment as an intermediary to settle loan obligations with the imf mainly in favor of polish companies and italian banks, and in august 2014, poroshenko personally invited one of the structures of the rothschild family to manage a blind trust, where he transferred his business assets to andrey viktorovich, despite the conflict that we have today on the territory of ukraine , the gas transportation system of ukraine has not yet turned into a pile of scrap metal and is used for gas transit. please tell me whether this element can be the key to establishing a further dialogue between states, or interested participants. i think it's unlikely, because it's only one episode. uh, from mercenary formations. uh, then other issues related to e business, for the solution of which it is necessary for e, a working gas transmission system. h

sonali: let's talk about franklin templeton for a second.seeing another asset manager, particularly in private credit. i'm wondering if you're thinking the same. jennifer: we've done nine acquisitions in the last three years. it was a big focus on the alternative space. we think there is a fundamental change where companies are waiting longer to go public so we bought a sector and private equity manager. we bought a private credit manager in 2018 so we were sort of early to that and then a second one with benefit street partners. about 82 billion in private credit. we cover really every category with the exception of infrastructure. we have been vocal there was interesting infrastructure at the right price. it's hard buying private market assets. >> there's been a lot of questions recently about whether some of the fund structures in private markets work for retail investors. facing large-scale withdrawals, do you think the model works for everybody. jennifer: that is the important challenge. it makes it difficult to bring private markets to

. >> that was the franklin templeton president and ceo. a risk on session in washington today.re was optimism that perhaps we could see some sort of resolution when it comes to the debt ceiling and past. president biden expressing confidence there will be no default. thanks gain ground. western alliance reporting growth in deposits. u.s. futures not doing much at this point but the 10 year yield, yields across the curve gained ground. the dollar the highest level since march on that optimism over the debt ceiling especially with speaker mccarthy now saying reaching an agreement this week was doable. haidi: we continue to watch that as the main driver. let's get a quick check of the latest headlines. tencent sales show the most growth in over a year. the plans to integrate artificial intelligence now likely to be a focus for investors. sony group plans to buyback around 2% -- up to 2% of its shares over the next 12 months. the firm says it will spend as much as $1.5 billion. sony had warned of headwinds ahead from a slump in global consumer spending. share buybacks in spain -- t

sonal desai, cio at franklin templeton.way, friday, tomorrow, bloomberg is going to interview janet yellen from the g7 meeting in japan. that is one that you do not want to miss. i believe that will be in the extremely early hours. 3:30 a.m. new york time. maybe set your dvr or, if you are a lunatic, wake up that early. coming up, peloton recalling millions of bikes sold the last five years. this all happening again. the details, next. this is bloomberg. ♪ hi, my name is tony cooper. and if you have both medicare and medicaid, i have some really encouraging news that you'll definitely want to hear. depending on the plan you choose, you may be eligible to get extra benefits with a humana medicare advantage dual-eligible special needs plan. all these plans include a healthy options allowance. depending on the plans available in your area, you could get up to $3300 a year to help pay for essentials like eligible groceries, utilities, rent, pet care and over-the-counter items. like vitamins, pain relievers, first-aid supplies a

your time today and it's good to see you again >> thanks, you too >> jennifer johnson with franklin templetonwe'll dig further into the elon musk interview and we'll look into the valuable historical document ever sold at atiucon tyler getting ready, and i'll join him on the other side of this break ♪ ♪ >>> welcome to "power lunch," everybody. along with kelly evan, i'm tyler matheson we'll see the musk-see tv interview on cnbc last night tesla's ceo elon musk says there could be a reckoning for u.s. companies doing business in china doing work from home with a word we can't say on tv and he'll keep saying whatever he wants on twitter even if it costs him money. >> before we dive

franklin templeton, and the french rothschilds group enco, which has been operating in ukraine for atime back in the pre-donald period, the group was engaged in financial consulting with an eye on pharmaceuticals and agriculture in the financial market, the rothschild company was a leader in the mergers and acquisitions segment , mainly in favor of poroshenko's pulse personally. she invited one of the structures of the rothschild family to manage a blind trust, where he transferred his business assets to andrey viktorovich, despite the conflict that we have today on the territory of ukraine. did not turn into a pile of scrap metal and are used for gas transit. please tell me whether this element can be the key to establishing a further dialogue between states, or interested participants. i think it's unlikely, because it's only one episode. uh, from the picture that is emerging today. yes, really amazing. yes, ukraine is on fire. here, and gas from the transport system works, but not like clockwork, but almost like that. this suggests that there are interests, first of all, of the we

shery: franklin templeton ceo johnson believes u.s.eal and is important for investors to stay in the market. >> i think it is a black eye on the u.s. if we cannot -- we have such a dysfunctional political environment we cannot come to some kind of compromise. i am an optimist. i believe cooler heads will prevail. they will probably come to the brink, we will come to an agreement. >> how much are you concerned about going through the summer versus what we could see the next six to 12 months by way of a recession? what is a bigger risk? guest: i think, separating those two things. i think there will be volatility in the markets particularly with this looming. with the debt ceiling looming ahead. again we can get through that. you need to remember the u.s. government is solvent. even if you, let's say we did not come to an agreement, and it bolted. i do not think -- it defaulted. i do not think that will happen. if you have the debt you do not celebrate deep discount. we are not -- the paper is worth something. a recession in our view it

. >> franklin templeton says the u.s. banking system has been stunned by the pace of rate hikes. interview with jenny johnson is next. this is bloomberg. ♪ >> we are watching fx. we had a bearish set up when it comes how wall street was approaching dollar weakness in the mood from the fed, expectations of a pause seeing further downside, debt ceiling standoff, recession scenarios are the perils we are facing when it comes to dollar volatility as well. watching the other currencies, the hong kong dollar in focus as we had that defense of the currency peg, buying hong kong dollars in raising that base rate, as we see post every fed decision in lockstep with the fed tightening as it hits if that final move to 5.5% from 5.25%, to of course protect the dollar peg to the greenback. the other pair were watching, not just begin-dollar, this haven demand continuing, but watching the moves in australian -yen, wiping out gains from those decisions. that is trading as a macro hedge. shery: we are getting the statement from the bank of korea reacting to the fed rate decision sink they are clo