want to do that. >> i think it is important what james sweeney talks about, thegflation comfortable -- >> that word has been thrown around so much. do you think the fed needs to step in here with a communication effort and backed that one away? >> no. the fed is struggling to communicate that tapering does not necessarily mean hikes. that is the main challenge. the stagflation worry will become less concerning when global productivity is reaccelerating. >> let's catch up soon. james sweeney, -- some of the dynamics playing out now are not good. they are clearly not good. we have great demand and we cannot meet it with supply. >> the boats outside new york city -- he is 97 years old today . anyone can have their thoughts on jimmy carter the president, but this is a guy who nailed it in college. he went to the naval academy and was selected in 1946 to invent the nuclear submarine program. this photo from the navy archives, that is jimmy carter in the back, a shockingly young james carter. he is 97 years old. can you imagine being alive in 1903? >> tom keene, lisa -

tom: james sweeney of credit suisse. just a wonderful conversation.rceful on stagflation as well. right now, for lisa and from of its and i -- for lisa abramowicz and i, it is a joy to bring in carol brown at bank of america. very much like tobias levkovich of citigroup, her strength is she started out in the trenches. if you are 17 years in a row the airline analyst of the world, and if you do securities analysis like candace browning did years ago, that is a research foundation. we are thrilled she could join us today. you have a new report out that is on bitcoin. i don't even know, did brian moynihan let you put the doge in your crypto report? candace: well, thank you, tom, for having me on the show today. actually, what we are doing today is not so much about bitcoin. bitcoin is just a part of it. what we did today is we are the first ager bank on the sell side to launch a strategist, and his job is to be the crypto and digital asset strategist. tom: look at you. [laughter] candace:candace: and lucky him. the reason we did it is because it is such

james sweeney of credit suisse.ss articulating what stan truck and miller calls the red swan. i think it is important these distinctions we are debating. we are going through this and making jokes about tang and manchester united. today play last night? jonathan: i am not sure they did. tom: this is serious stuff and there is raging debates. jonathan: one thing we have not discussed much about. we touched on it. we need to build on that. who is going to be leading this federal reserve through the next several years? lisa: how much does it matter? subadra rajappa saying if we get another one that fed chair will be more dovish. remember when we were getting the potential for the fed to be more dovish and it led to long rates going higher? what happened to that logic? jonathan: do you think there's a chance it becomes increasingly politicized? lisa: people are saying a bigger risk to the market is the fed, versus even the debt ceiling debate, which is what president biden wants to focus on. jonathan: mario draghi sayin