tom: christine lagarde channeling gita gopinath.e will have those headlines in all the coverage, we have a wonderful digital set up. i would center around alivego, where you can follow the q&a. some important press conference and q&a, perhaps the most important we have ever had before. fascinating to see christine lagarde echo what we heard from gita gopinath, the idea of 2% inflation as a target. adam posen really pushing against that, looking for something much higher. right now, it's an extreme a timely moment. michael mckee speaking to a fed official, john williams. mike: we want to welcome president williams, the president of the new york fed, to bloomberg television worldwide. you were also the vice chairman of the open market committee. second in command for the group that makes interest rate decisions. you have to decide what you are going to do and how fast you will do it going forward with the data you have. we just got retail numbers. inflation boosted sales happy percent. i know you have looked a little bit at the number

but it is new duties for the first deputy managing director at the international monetary fund, gita gopinath. there was a celebration across all of economics with this announcement. what is different from your economic duties versus being first deputy managing director? gita: as chief economist, i would see my role as an advisor, but as managing director, i am in management are taking a lot more difficult decisions. i think that would be an important difference. tom: you have been spearheading the pandemic and i must ask on an update on the way asia and china is prosecuting their pandemic. why does the imf need from china to help asia better in the pandemic? gita: the pandemic has evolved has you know compared to the last two years. we have much more be real and making it harder -- virilant strains making it harder. our advice to china would also be some recalibration would be held for. tom: do they need american vaccines to fix this? do they need mrna to get china vaccinated? gita: firstly they need to get more coverage of their 70 plus population while they have high vaccination coverage.