just today - the imf approved 160 billion towards this effort, _ the imf approved 160 billion towardsards this effort, which is— the imf approved 160 billion towards this effort, which is a _ the imf approved 160 billion towards this effort, which is a significant- this effort, which is a significant step— this effort, which is a significant step that — this effort, which is a significant step that had _ this effort, which is a significant step that had been _ this effort, which is a significant step that had been stalled. - this effort, which is a significant step that had been stalled. it i this effort, which is a significant. step that had been stalled. it does move _ step that had been stalled. it does move things — step that had been stalled. it does move things forward. _ step that had been stalled. it does move things forward. you - step that had been stalled. it does move things forward. you are - step that had been stalled. it doesl move things forward. you are right. the us— move things forward. you are right. the us is_ move things forward. you are right. the us is sending

so the ft story focuses on the imf predictions for. focuses on the imf predictions for growth this yearg apace and reducing forecasts for those countries in the global south where there are hardly any vaccinations available. i think it's interesting because it really plays interesting because it really plays in this idea of a sort of to track global opening out. some countries here in the uk where if there are not more but dangerous variance to develop and that are more vaccine resistant, we will be sort of approaching something normal like probably by the end of this year. that is just worlds away from what is happening in the global south and poor countries where i measure what it would be like here with a delta variant which is more likely to hospitalise people and more infectious and if we did not have vaccines. that is the reality that some poor countries are facing i think we have got a big ethical question in the more affluent parts of the world actually. talking about our third boosterjabs and can be really important in keeping us safe here but it also is going to impact on supp

when we look at these forecast from the imf, how - forecast from the imf, how closely is there a link their economy, and the speed of vaccine roll out?— vaccine roll out? the link is undisputed _ vaccine roll out? the link is undisputed and _ vaccine roll out? the link is undisputed and that - vaccine roll out? the link is undisputed and that should! vaccine roll out? the link is. undisputed and that should be seen as an economic wedge between the developed world and developing world that while the developed world has seen exponential vaccinations even though it has a fewer population than the developing world, the developing world is still lagging. that is anything that the international monetary fund is most worried about, this economic divergences, inequality, has been driven by a vaccination programme that is not equal between the developed world and developing world and the fact is that no matter how successful we are at fighting this virus in the developed world, we will never get ahead of it if we do not have that equitable distribution of vaccines across the world because, qui

with us now is gita gopinath, imf economist.ough how the delta variant played into your forecast for this year and next. gita: thank you for having me on your show. the delta variant is now the dominant variant in the world, and it has already affected our update. for instance, the downgrade for emerging and developing economies is being driven by significant downgrade, and that is a confidence of the variant spreading significantly in that region. we have this in india, where the variant originated, and we have cases going up very sharply in malaysia and indonesia. this is one of the biggest factors behind the downgrade. we see cases going up in the u.s. and in other parts of the world where vaccine coverage are higher, so that will help with hospitalizations and deaths, but this is an important risk to our outlook. dani: it is stark how different things are than 2019, when we didn't have this threat present, when there were hopes of a global synchronized growth. what you are describing, it seems like we are very far away from

just today the imf approved 160 billion towards this effort, - just today the imf approved 660 billion step that had been stalled. . it does move things forward. but you are right. the us is sending one million vaccines to indonesia. - that is a staggeringly small amount for a country- being ravaged by covid—19, and to give you an idea - of this, the global population is about 7.98 billion people, i take about a quarter of that as children, you have - 6 billion adults. each needing two vaccines, | until the johnson & johnson vaccine can be spread - around the world at least. we only have about 3 billion vaccines delivered and most of them to the first world, - only 5% of the adult population has had two vaccines in india. so we do have a looming catastrophe. _ we have this very worrisome i recovery happening and we saw the us economy recoveringj with 7% growth, and that is fantastic, but it is- a k—shaped recovery. you see the western economies go up, and the developing - and emerging- economies going down. the separation that isabell was talking about between the wealthy nations i and

that is the call out of the imf.number of people, felt it was good and that overlays onto the improved imf view. jonathan: jp morgan up. i am looking about how they are dealing with the high prices. the materials measure, 42 year high. you need to go back to the iranian revolution from the late 1970's when we had it that big. coming up, prices in america and what it means for the bond market. the head of td securities joining us. it is payrolls friday. from new york city, this is bloomberg. ♪ ♪ ♪ look, if your wireless carrier was a guy you'd leave him tomorrow. not very flexible. not great at saving. you deserve better... xfinity mobile. now they have unlimited for just $30 a month... $30. and they're number one in customer satisfaction. his number... delete it. i'm deleting it. so, break free from the big three. xfinity internet customers, switch to xfinity mobile and get unlimited with 5g included for $30 on the nations fastest, most reliable network. >> i think consumers have money in their pockets and we will ha

that is what the imf folks out there were speaking of. to me, the real issue is we were going to move from a staggered reopening to a synchronized global expansion. that will lead to a higher rate. that will kick off the next leg of the cyclical value. both in the united states and in non-us markets like europe, japan and parts of latin america that will benefit from that global expansion. i will see above trend growth not only this year which is a given but next year in both local and developed economies. shery: when you take a look at lukewarm response, how much is it tell you a market is price to prescript -- is price to perception? >> part of the market is price to pursue -- price to perception. particularly in the united states, not so much elsewhere, that is one reason i the u.s. continues to outperform area frustrating folks like me who are talking about going to the non-u.s.. when rates go down, as we have seen in the last couple of months, growth in big tech outperforms. the nasdaq at record yesterday. i think there is a glowing

it is focusin: what the imf is warning. it is focusing on _ what the imf is warning.are rebounding faster and which ones are lagging behind. if you look at the countries with the leading growth forecast for this year, it is the united states and it is the uk, two countries where they have had pretty successful vaccination roll—outs. you look at those countries where they have lower growth, it tends to be developing and emerging economies where there is over immunisation rates and that they say is really the diverging point you are going to see going forward. but it says the wealthier countries where there is better vaccination rates could not find record should not be complacent if there is not global progress... thinking about the uk, the confidence in the mobility of this change has shown that has changed so much as since the vaccination programme has rolled out but what is the imf calling for? because i am sure it would be beneficial to the united states or israel or at the uk to have other countries that they need to trade with in a more confident position. i need

>> i'm interested listening to the imf forecast about this 5% growth forecast for next year.quite a lot we're more in the feds camp of 3, 3.5 still above potential don't get me wrong still a good backdrop for risk but not the potential that the imf seems to be pencilling in. which leads me to the point about international. that's where we still have significantly above potential growth you saw the baton handed off to europe and european markets in the second quarter we think japan is next, followed by emerging markets excludeing north asia still in the phase overseas of reality meeting hope which is a very strong phase for potential growth and returns overseas. plus the average investor we speak to has a deep underweight to international stocks built up over a decade. there's a lot of work bringing in a 21% to 35%. >> meanwhile glaze donut maker krispy kreme returning to the public market on the nasdaq today, sharing movingdown, but ending the day up more than 23.3%. the company was taken private in 2016 my biggest question is whether listing the nasdaq means they'll have mor

, a taxing question for the g20 — making multinationals pay theirfair share, and is the head of the imfaming and shaming the g7 over vaccination? i am joined byjeffrey kaufman, a news anchor in both his native canada and the united states as well as a much—travelled foreign correspondent. isabel hilton, newspaper columnist and broadcaster who founded china dialogue, an independent organisation trying to foster greater understanding of china and improve its environment. and you see him there, our bbc business editor simonjack, good to have you with me in the studio. welcome to isabel and jeffrey. lovely to see you again from distant parts. now, no taxation without representation — the slogan of the american colonies after a sales tax imposed on them by the british parliament when they had no elected voice. the companies that will end up paying more tax as a result of the global corporate tax deal on the agenda for the finance ministers of the countries which form the g20 meeting in venice this weekend, may lack representation, but they have had the money to fund a skilled lobbying operat

imf upgrading gdp forecast for south korea.g out the board to check in with the open and cindy after it hit a record close. pulling back by a 10th of a percent. keeping a close eye on rio tinto. and we have infrastructure on watch, this as the kkr led consortium has its bid allowing the talks with spark. head of cpi data is due from australia. aussie dollar has a little changes morning. we have the offshore u.n. holding above 662 as we saw the volatility jump for the currency. and we are seeing angst show up in opsin -- option trading for the u.n.. 654 may be the level to watch. we are seeing nasdaq futures under pressure as well. this as the anxiety over the china tech rout continues. haidi: it does continue. our next guest remains neutral on china. that's valuation relative to broader em is not cheap. joining us as the portfolio manager for e spring investment. if you take a look at where valuations have ended up over the past best part of the week, you can see that it kind of started on friday. does the valuation picture cha

the decisions around the imf and the fund is an important piece for dealing with covid.f course, all of this goes back to climate. sad not to see specific references to climate, but we are understanding that everything that did come out of this meeting ultimately will feed into how we deal with climate change. kathleen: thank you, taiya smith. former executive secretary for the u.s. department of the treasury. time for morning calls ahead of the asia trading days, sophie kamaruddin joining us from hong kong. sophie: following the pboc cut on friday, mixed views from investors. one head of equity strategy says it increases the possibility of strong growth into next year as china has taken up monetary and fiscal policies. on the terminal, there could be a boost to stocks this week in the wake of the pboc move, on second-quarter duty -- gdp reports, it could have supply chains disruption. others say the pboc is neutral news. switching out the charts, an investment company saying given the tech crackdown, it could present an opportunity for some chinese names trading below v

alix: that was gita gopinath, imf chief economist, speaking to us in the past hour.ning us now is rasmussen beck hansen -- is rasmus bech hansen, airfinity ceo. are we in the beginning phase, the middle phase? have we peaked? rasmus: there's why divergence across the globe, so it is a bit hard to generalize. in the u.k., luckily we may have peaked. we have slightly declined over the last week. in other countries across europe, we expect to see rising infections for the coming months, and in the u.s., also rising infections, and in other parts of the world, as the imf chief economist said, that have been vaccinated even more so. the real problem, even in the western world, when you model the level of protection, it is only around 50%, 55% in the most vaccinated if you take into account the lower efficacy of the delta variant and the vaccination rate. that means you basically have 50% that can still be infected, so there's a lot of disruption that the delta variant can do in the coming months, throughout europe, the u.s., and emerging markets. dani: in your assessment

look at the imf numbers.ack to the immediate data and to me, the beginning of the earnings season is as important as this jobs report. lisa: this is the real key point, at what point is the fed not helping anything with their policy? to your point, how much is the structural and other kinds of remedies? that i think is a really important question. jonathan: the conversation for the next couple hours come on bloomberg tv and radio. we will catch up with the labor secretary a little later this morning following the jobs report. we do that around 9:30-9:45 eastern time. from new york and radio, thank you for choosing bloomberg. ♪ ♪ (announcer) back pain hurts, and it's frustrating. you can spend thousands on drugs, doctors, devices, and mattresses, and still not get relief. now there's aerotrainer by golo, the ergonomically correct exercise breakthrough that cradles your body so you can stretch and strengthen your core, relieve back pain, and tone your entire body. since i've been using the aerotrainer, my back

the violations of the imf treaty which ended up deploying new missiles with new capabilities. we are seeing more additional developments by russia. weapon systems that are capable that show an intent that is beyond just deterrence. that is what you have to be concerned with and certainly, that should bring us back to the negotiating table with them. the other thing we have to make certain, which you write, is our modernization of our nuclear program is for us to be able to keep the status quo. both our infrastructure. just to be capable of being nuclear weapons-producing. our missile systems, to make sure they are capable. and then, of course, looking to modernization of our warheads. no one will enter into arms-control negotiations with us if we are on our own, constraining our own capabilities for production or deploying weapons and weapon systems. russia will be jumping ahead of us in capabilities and we will slip behind in that is not how you get to the bargaining table. ms. heinrich: that gets me thinking, too, because major power competition not just with russia but with

the frustration of all these restrictions is the impact it's had on the economy is to point to the imfted economic recovery and the strength of it is dependent on vaccination and how quickly you can move back to normality. absolutely. it's clear now that vaccines - are integral to economic recovery in addition to continuing with mask wearing. - it's been interesting to see certain countries that had high levels - of vaccines making decisions to take off masks and are now saying - actually we are going to need them. one thing to keep in mind i is the picture is still not clear how we're going to get out l of the pandemic, but what is clear is vaccines can - bring down the numbers. the imf's report was also quite interesting because it showed i the disparity between the countries that can't afford to have these - vaccines fast enough and those that can. i so, advanced economies that have i on average 40% of their populations vaccinated are recovering much - quicker than emerging economies that frankly have not been able - to vaccinate more than 10% to 15% of their populations. so, in a w

fink says rather than lending money the world bank and imf would be more useful as insurers that reducenvestors. softbank's second vision fund reportedly invested $13 billion in the second quarter, according to the financial times. that included 50 companies investments up from $2 billion in the first quarter. the report says the japanese firm was placing modest bets on health care and software businesses with its second fund. haslinda: yvonne: --yvonne: probably, markets are singapore to good monday along equity markets when it comes to the pboc trouble are cut and -- pboc rr cutr. yet on the -- and we are seeing shares down 3.5. percent in ho chi minh. shares gaining 2.5% in tokyo. we are talking about the fourth week of the last five when it comes to equities but still seeing a good day today here. juliette: india now the latest cpi data likely to show inflation climbed further above the central bank 6% target in june and a further rise could decrease the central bank comfort with its accommodative stance. our next guest has a low consensus you on june cpi expects it to rise to 6.1%

the imf thinks the fed may need to start raising interest rates in early 2023.f the article for consultations as the central bank will likely begin to scale back asset purchases in the first half of next year. the imf sees increased government spending keeping inflation above its long-run average target. 130 nations are back to the global tax overhaul proposed by the biden administration following a round of talks at the oecd. the endorsement puts the world one step closer to a minimum corporate tax rate as the new regime -- several key countries agreed to the terms including india and china. nine others held out. the aim is for a final deal by the end of october. christine lagarde said the regions lenders could see a cap on dividends and share buybacks stood by the end of september. christine lagarde told the european lawmakers that restrictions could be removed if economic and financial sector conditions do not worsen. last year, regulators issued a de facto ban on shareholder returns as a trade-off for taxpayer funded stimulus. global news, 24 hours a day, on

. >> imf says the fed needs to start hiking later next year interesting call there we will count down to the jobs report thank you for your insight ahead of the report. lindsey bell >> thank you >>> when we come back on "worldwide exchange. a wild day of first trade for crkrispy kreme for the return to the equity markets. >>> the travel for fourth of july could the delta variant cause a problem? >>> and jeff bezos versus richard branson. a very busy hour just ahead on "worldwide exchange. ver. one that's been tamed and one that's forever wild. but freedom means you don't have to choose just one adventure. ♪ ♪ you get both. introducing the wildly civilized all-new 3-row jeep grand cherokee l. ♪ ♪ >>> time now for your big money movers three stock stories at this hour tesla vehicle model s plaid caught fire outside philadelphia the incident happened three days after the top of the range car was delivered. the attorney says the driver was initially trapped in the car because of the electronic door system failed. tesla has yet to comment this comes as tesla is set to report second quarter

the answer is no and that is where the imf is and where the fed is. where all of those, other than those who are trying to oppose the kind of sectors being proposed to get the economy back on growth. lisa: there are some things that have changed. there has been a deglobalization. on the margins there has been a bit of a shift towards labor away from employers. we saw boeing restraining itself from firing certain employees because they did not want to worry about rehiring them when they needed them. earlier this morning that announcement came out. what you say to all of the shifts, they are not fundamentally changing the character in a way that could alter inflation to a higher tilt? dr. stiglitz: there will be some increases in prices in the process of that kind of adjustment. on the second point you made, that the profit margins have been so high that they can easily be absorbed without increasing prices, that is one of the disconcerting things happening in the united states over the last 15 to 20 years has been decreased in the share of labor and a

imf projections of close to 5% growth next year. i think that is highly likely.h outlook we are not going to see because the base affects are very strong numbers in the first half of this year, but it's going to be a moderation rather than a slowdown in u.s. growth. in asia, and in vaccination programs which have been very slow and have really been challenging in a number of countries, i am working on the assumption that the vaccination programs are going to accelerate quite dramatically over the next six months or so. so, i am assuming that yes, there are going to be pockets of problems with delta variant s, possibly other variants. it would be naÏve to assume that the covid problem is going to automatically go away. it is meant to be volatile, but i think the trend is one of economic recovery, literally globally, over the next six months to 18 months. i just refer you to, you know, the imf global forecast for next year at 4.9% growth after this very strong recovery this year. anna: so we are on a path to recovery. how long do we assume that central banks will h

the imf managing director says a carbon border tax would be a protectionist measure. has backed france's planned for carbon measures around the world. indonesia's finance minister said one global carbon pipe would be agreeable but it would be difficult to make the agreement. new virus cases hit a record sunday -- five weeks into a nationwide lockdown. the prime minister enrolled -- embroiled in a battle, saying the economy is at a breaking point. global news 24 hours a day on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm vonnie quinn. this is bloomberg. kathleen: the newly installed 36-year-old leader of south korea's biggest opposition party says philip millennials will push back up against what he calls chinese poultry in places like hong kong. taking a tougher line against beijing of his group takes power. in an exclusive interview he says he feels a strong obligation toward the hong kong democracy movement. >> the hong kong government, backed by the chinese government , as i expected -- it did no

who is right on this issue the fed or the imf? >> well i think, david, the people who are right here are companies and we've been hearing from them left and right throughout the earnings season there is no such thing in their cost structure that is transitory. that they're seeing prolonged increases in input costs whether it is freight or raw materials or even services providers are saying their inflation has increased. i think we should listen to the individuals on the ground, not necessarily economists in ivory towers creating models, every day in the heat of earnings season there is nothing transitory about the inflation we're experiencing right now. david: of course central banks in other countries have been more lenient than the fed has going to negative interest rates and et cetera. if they begin to tighten would that force the hand of our own federal bank, the federal reserve to tighten here? >> we certainly haven't seen any tightening out of large banks, bank of japan, bank of england, european central bank but that would

on the imf front, projections of growth at 7% for the u.s. economy and we are at the fastest pace in a generation. also this week, we saw the oecd region agreement with 130 countries endorsing a global minimum tax of at least 15%. says bennett priority for president biden and our economic strategy from the beginning of this administration to try to galvanize the global effort to actually and the race to the bottom on taxes and to encourage multinational companies to invest and compete on quality and price and not the effectiveness of the be able to strip profits into low tax jurisdictions. to an important milestone in our effort to get that done. i just wanted to also let you know in terms of actions that we are focused on to try and help address issues that consumers are facing with increased competition and lower prices. i want to confirm that there was some reporting this morning that the president is indeed intending to direct department of transportation to engage in a series of rulemaking to protect airline passengers and promote fair c

economy this year and next over the imf.loomberg alongside tom keene and lisa abramowicz, i am jonathan ferro. we are 11 minutes away from the jobs reports. here is action. equity futures are drifting higher up four to five points. we advance .1%. a six-day winning streak into friday. all-time highs, the jobs report is 11 minutes away. 720,000 is the estimate right now. yields are lower into this print. we are down two basis points to 144. tom: a fascinating tape, not a fragile tape, but a tentative taper in 30. that is in 10 minutes. as he does, he always provides perspective but frankly never more so than now. james glassman from j.p. morgan chase commercial banking and has been definitive in this research on the labor economy for years and many help wanted signs coast-to-coast. jim, i was just away, not as romantic as lisa going to greece, i went up to romaine and had a lobster. i would notice it is a different -- note it is a different character to the help-wanted signs. what is the desperation across america to find the

on the imf front, projections of growth at 7% for the u.s. economy and we are at the fastest pace in a generation. also this week, we saw the oecd region agreement with 130 countries endorsing a global minimum tax of at least 15%. says bennett priority for president biden and our economic strategy from the beginning of this administration to try to galvanize the global effort to actually and the race to the bottom on taxes and to encourage multinational companies to invest and compete on quality and price and not the effectiveness of the be able to strip profits into low tax jurisdictions. to an important milestone in our effort to get that done. i just wanted to also let you know in terms of actions that we are focused on to try and help address issues that consumers are facing with increased competition and lower prices. i want to confirm that there was some reporting this morning that the president is indeed intending to direct department of transportation to engage in a series of rulemaking to protect airline passengers and promote fair c

as i reported a moment ago, the imf today projecting u.s.ow 7%, a remarkable rate of growth, this year. what does that mean for the world? we know the entire global economy took a big hit from this pandemic. what does this improvement in the united states mean for the whole world? >> let me first recognize two foundations for this strong growth. the stimulus that was put in place to inject money into the hands of people and support businesses, and the accelerated vaccine push that the u.s. has been pursuing over the last months. they both lead to this remarkable recovery that would deliver the highest growth rate in the united states since 1984, a generation ago. what does it mean for the rest of the world? primarily good news, because higher growth in the united states means that the united states is going to be demanding more goods from other nations, and is in that way exporting some of this growth momentum. this is why our message is very simple. vaccine policy this year. next year, economic policy. let's vaccinate the whole world. judy:

>> yeah, i -- again, sdr issue is to deal with funning the imf. we are not -- it would be hard to say that single action will be the thing that threatens our status as the reserve currency we don't have -- the fed doesn't own the reserve currency issue that's an issue we share with other parts of the government as well >> just quickly, i know the chinese are trying to economically compete with us when you say that they are trying to weaponize their economy against us to try and take us over, would that be a fair statement >> i would say -- i would go so far as to say we certainly are in a havestrategic competition h kind but other countries are really for the government -- for the administration not for the fed. >> well, with respect, sir, this morning this hearing is about monetary policy and the state of the economy. it would seem to me things that would affect the economy, challenges to the economy, we would be talking about especially monetary policy and would seem the chinese if they -- if our money and investment money is going over there to

the government needs to have imf agreement soon.rd: unfortunately, we are out of time but thank you to all of our guests and thank you as well for watching. you can see this and all our programs again anytime by visiting our website aljazeera.com, and for more debate go to our facebook page . you can also join us on twitter. goodbye for now. ♪ >> award winning programming from international filmmakers. global experts in discussion. giving voice to the voiceless. programs that open your eyes to tentative views of the world. see the world from a different perspective on al jazeera. hope. the fuel that drives change. following the removal of -- zimbabwe was brimming with it. >> instead of telling people to think, i would rather give them a chance to speak for themselves. >> and captured a hauntin donald trump: i'm establishing new vetting measures to keep radical islamic terroris out of the united states of america. we don't want 'em here. lara kiswani: there's a stigma of arab people, muslim people in this country designeto perpetuate

they have yet to account for the funding received from the imf.ll this -- sami: that is building up in the public psyche, no doubt. let's bring in mlungisi. we've just got a few minutes. we've heard opposition figures calling for south africa to impose sanctions. is that where the opposition is going? is it counting on pressure from regional actors and international actors now? >> indeed. we are calling for decisive pressures from regional and international players. we are calling for targeted sanctions. against the king and his close associates, who are responsible. the king has been taking irresponsible loans. because the coffers of the nation are empty. we are calling on the international community. more than anything, we are calling for criminal charges to be pressed against the king and his government, because of all that's been committed during this uprising, a lot of people have died, yes. the international community will be shocked by the figure of the people who have been killed randomly by swazi soldiers during the protests. sami: christ

when we look at the forecast from the imf, i context.y, and the speed of vaccine roll—outs? the of their economy, and the speed of vaccine roll-outs?— vaccine roll-outs? the link is on disputable- _ vaccine roll-outs? the link is on disputable. that _ vaccine roll-outs? the link is on disputable. that is _ vaccine roll-outs? the link is on disputable. that is where i vaccine roll-outs? the link is on disputable. that is where we i vaccine roll-outs? the link is on| disputable. that is where we are seeing this economic wedge between the nl comp —— the developed world and the developing world. while the developed world has seen exponential vaccinations, even though it has less of a population than the developing world, the developing world are still lagging. that is a thing the international monetary fund is most worried about. this economic divergence. economic inequality that is being driven by a vaccination programme that is not equal between the developed world and the developing world. the fact is that no matter how successful we are

the blacklisting it so much deserves, because a blacklisting would mean that it would be cut off from imf the united states, particularly the united states, has been waging this war in afghanistan, we have been treating pakistan like an ally, even though, while it was taking our money with one hand, it was shifting it to the other hand to give the taliban, and everyone has known this. a military transport plane has crashed in the southern philippines as it tried to land on the island of holo. 47 people were killed in the crash and 49 were injured. most of those aboard the hercules plane were soldiers who'd just finished their basic training. they were being deployed to fight militants who operate in the southern philippines. david campa nale reports. a large ball of black smoke was seen above the wreckage of the transport plane, a lockheed c130 hercules, supplied to the philippines by the united states. the head of the armed forces said it had missed the runway — it's not clear why — and then tried to regain power, but had failed and hit the ground. many of those on board were soldiers. t

the blacklisting it so much deserves, because a blacklisting would mean that it would be cut off from imftrange place where the united states, particularly the united states, has been waging this war in afghanistan, we have been treating pakistan like an ally, even though, while it was taking our money with one hand, it was shifting it to the other hand to give the taliban, and everyone has known this. stay with us on bbc news, still to come: more on those extraordinary pictures. these are the aerial footage shots of a herd of sheep. china marked its first day of rule in hong kong with a series of spectacular celebrations. a huge firework display was held in the former colony. the chinese president jiang zemin said unification was the start of a new era for hong kong. the world's first clone has been produced of an adult mammal. scientists in scotland have produced a sheep called dolly that was cloned in a laboratory using a cell from another sheep. for the first time in 20 years, russian and american spacecraft have docked in orbit _ at the start of a new era of cooperation in spacej thi

can you tell us how you plan to engage with the imf, the world bank and the interagency here at home to support the objectives and the inclusive recovery in the u.s. and around the world? >> thank you, senator, for that question. i think this simply has to be a very important priority, and it's been a priority for president biden in thinking about how we need, here in the united states, to recover from the pandemic when you see the disproportionate negative effect that this pandemic has had on women. and often minority and low-income women. this motivates both features of the american rescue planned and it's also motivated many of the proposals in the president's budget that would address wages and working conditions in the care economy, child care and the like. as you said, in our international work, this is something that we want to see promoted around the world. we're working with the imf, the multilateral development banks, the world bank, to ensure that the kinds of goals that you mentioned, women's rights, non-discrimination, we examine every project that we vote on at these or

the imf raises its forecast for the uk economy, but warns a slower vaccine roll—out will hurt developing—printing technology to build vacation rooms and flat—pack them across the world.

funding for multilateral financial institutions including a new $650 billion general allegation at the imf of special drawing rights. i'm interested to hear about the outreach you have done with kong republicans on those funding increases. initially, i again ask that treasury work to improve its responsiveness to this committee. second yellen, i look forward to learning more from you today in our discussions. thank you, mr. chairman. >> senator crapo. second yellen, the floor is yours. >> thank you. chairman wyden, member crapo, members of the committee, it is a pleasure to be with you. when i took office back in january, the first and most urgent problem confronting our economy was obviously the pandemic. helping people make it to the other side of the crisis and ensuring they were met there by a robust recovery. thanks to this congress and its passage of the american rescue plan, i believe we are well on our way toward that goal. but we have to be clear-eyed about something. the pandemic was not our only economic problem. long before a single american was infected with covid-19, millions

the united kingdom got the biggest bump among major economies with the imf seeing growth this year.egotiators missing another key deadline as differences remain including how much unspent covid-19 money can be used for infrastructure. we're told rates including paris on some products not covered by an earlier round. officials tried to emblem it levies in the third quarter, though they are still awaiting final approval. an encouraging statistic out of india which added nearly 30,000 cases of covid, the lowest daily count since the second wave of the virus began four months ago. the total tally stands at 1.4 million. only about 7% of india's population is fully vaccinated. tens of thousands of visitors are in tokyo for the summer olympics. only about a quarter of japan's population is fully vaccinated. yvonne: this is where you are seeing the ioc briefing, talking a little bit more about what has been going on. of course, we saw yesterday in tokyo another flareup in cases. it is a record in the capital. you can see more coverage of the tokyo games. we have a bloomberg medal tracker on

pay their fair question for the g20 making multinationals pay theirfair share in this the head of the imf native candidate in the united states as well is

covid-19 is only showing more inequality than what was explained by the imf.veloped economies, because they have the capacity to build back better will be the ones moving faster in the recovery, putting some pressure on the demand. the poorest economies that have been affected because they don't have capacity to invest and they do not have the amount of resources will be the ones that will be the most effective so that is what we need to think differently about and we need to find a way in which we create a mechanism to reduce those inequalities. if not, we will be accelerating that. haidi: what does that mechanism or those mechanisms look like? are they multilateral policies that can be put in place? maximo: exactly because right now, there is a discussion. in those resources, they will be used. the discussions we have today is that we believe that those resources need to be used in the poorest countries paid we need to accelerate the process of vaccination, especially in south asia, so that for the next year at least, we are sure that these economies can rec

the imf has more in a two stage recovery.ng about inequalities in recovery, but nobody will take that terribly seriously until the fed and ecb change their stance. there is more concerned about inflation, rates, but they are most concerned about keeping things from tipping over. central banks, finance ministers gathered in venice. they are still the most powerful actors in the world. matt: always good to get your insight. tina fordham is a partner at avonhurst, the head of global political strategy. still ahead, star power comes to the markets. ryan reynold's maximum effort sold to and company mountain. we will talk to ceo mark douglas. this is bloomberg. ♪ matt: this is bloomberg markets. i'm matt miller. ryan reynolds' creative energy maximum effort is being acquired by mntn. i giggle because i watched an interview in which his twin brother accuses him of selling out. ceo of mntn mark douglas joins us. i don't think brian really has a twin brother but it is one of the brilliant skits that he put out on social media to publi

>> $1.7 trillion was taken off, the imf has done good studies.as much a 75% globally might be affected. about a quarter million u.s. jobs were lost at the peak, many of those have since returned. the overall effect on the u.s. economy has certainly been very negative. thus we need a little bit more stability, we need to get rid of the tariffs. we need a sound basis upon which we can move forward on technology cooperation and competition with the chinese. we have none of those factors in place now. amanda: of course for the other countries who trade with china and the u.s., for a little while, this would have looked like an opportunity. if they want to engage in tariff war's, there is an open door to trade with china. once it becomes a tech or, once it becomes pick a side, gets more complicated for a country like canada or germany. how do you think the rest of the world should play it is? you have to pick a side and what might become a real division on tech lines. >> i don't think we will get to a place where you have to pick a side because both c

the imf increased government spending keeping inflation above its target.l news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i am vonnie quinn. this is bloomberg. haidi: the u.s. jobs report is due out and experts ca prolonged period of subdued participation in the labor market that will weigh heavily on personal spending and topline growth. to discuss further, we are joined by the chief economist. give us your expectations for this reading. >> we are looking for a rise around 600,000 so slightly less than the consensus in the market but still very much in line with what we saw last month and i think that would be enough to push the unemployment rate down may be 1/10 or two. taken together, this does suggest ongoing momentum, a positive trend in the u.s. jobs market. more and more americans going -- talking about such strong growth in the first half of the year. >> do you think this will move the needle if we are setting up for another disappointment even if the pace of th

reporter: reaction on the imf on calls for them to lift the tariffs? jen: i don't have anything on that. reporter: on vaccines sharing, many humanitarian organizations [indiscernible] it is still not nearly enough to get the world vaccinated. does the administration have any plans to expand from the 580 million doses already pledged. and the government in indonesia has announced they are going to use the moderna doses to vaccinate health care workers who have already been fully vaccinated with sinovac's. could you comment on that? jen: there are no strings attached to the vaccines we are providing. we are providing them around the world to save lives and to be a contributor to the global effort to fight the pandemic. you are right that there are more doses needed beyond the billion. i would note the united states is far and away the largest contributor in the world to the fight against the pandemic, including specific doses of vaccine. the president has made clear we will continue to build from here and we are working on manufacturing capacity around t

the financial standard deviation index we got off the imf, that's really smart mathematics.eting stuff, i'm sorry. jonathan: as is most of the content on this program. given what this market has been up to, you could take a chart of a 10 year yield, take a chart of breakevens, spend your time going through it all, ducking and diving, then you look at the s&p 500 and we showed the chart and we can show it again. up and to the right aggressively over the last 12 months and it's a pretty straight line. tom: thank you so much for watching this morning. he says, you throw tesla into the index and i'm sorry, it's the ftaang index. jonathan:jonathan: maybe that's your future, tom. let's wrap this up. all-time highs yesterday, all-time highs on the s&p 500 yesterday. tom: mass corrections this morning. jonathan: when we are talking about this move, where are we now? -61 point, down about 1.4%. we are coming across from all-time highs on the s&p and we are coming off the year end median price target on wall street. when we were in october, november, when those headlines crossed about

i think that is where the imf is. that is where the fed is.athan: from new york city, good morning. alongside tom keene and lisa abramowicz, i'm jonathan ferro. equity futures advancing about zero point 2% on the s&p 500 this morning. tom: if you want to clear it up, you can go to wikipedia and see the theory the pros use off of what chairman powell wrought yesterday. one of those experts on the theory is william dudley, the former president of the new york fed, obviously for years at goldman sachs. you separate the men from the boys, the women from the girls with the logic theory of necessary efficiency in an undergraduate class. you speak of the necessity and efficiency of chairman powell yesterday. what would you say he said yesterday that was not sufficient? william: i would say he did a good job edging closer to the notion of we are going to start to taper, but not so much that it put the markets on edge. the general expectation at this point is that that probably won't start, they probably won't make the announcement of tapering until se

three years since the major uprisings that happened in the country in 2018, july 6, seven, when the imf haiti raise fuel prices. and some of these prices were double and puppet government that jovenel moÏse headed, they do this in the middle of a soccer game between brazil and belgium. the idea was brazil would win and there would be euphoria and people would not mind, they would not notice. they would be celebrating brazil's victory. and fate had it that brazil lost shamefully. immediately after the game, uprisings all over the country. so it is important to note this date, this anniversary and that jovenel moÏse would be killed on this anniversary. but also, i want to point out what kim ives is calling the revolutionary forces of the g9, these are criminals. these are people that are responsible for killing massacres in poor neighborhoods in the country. these are people -- and a lot of people find it amazing, unbelievable that kim ives and his newspaper would be defending , trying to make people believe that these are revolutionaries, these are people who are throwing 78-year-old eld