these comments from fed chair jerome powell about aggressive rate hikes.ill not say cut again by accident although i wish that could happen. the dow is down 312. we'll be right back. you and your family first. i promise to serve, not sell. i promise our relationship will be one of partnership and trust. i am a fiduciary, not just some of the time, but all of the time. charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals. visit findyourindependentadvisor.com your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire alright, so...cordless headphones, you can watch movies through your phone? and y'all got electric cars? yeah. the future is crunk! (laughs) anything else you wanna know? is the hype too much? am i ready? i can't tell you everything. but if you want to make history, you gotta call your ow

federal reserve chairman jerome powell fielding this question on capitol hill this morning. listen. >> do you see the possibility at least of putin or his oligarchs using digital payments and other alternative payment methodology to avoid these sanctions? >> i saw that crypto transactions are spiking in the ukraine and in russia.

jerome powell said that the inflation monetary framework is not responsibility for the sharp surge we are seeing in consumer prices and he gave the examples of the previous tightening cycles and saying that you could achieve a soft landing. bill dooley says he disagrees with both of those assertions and that the weight of the fed has set itself up he sees a recession as inevitable. shery: that is being priced in the equity space. we had a boost after we heard from russia as well that they wanted to de-escalate the war on ukraine. we did not get to that cease fire with negotiators still talking about ukraine and aware hope words are. we continue to watch for any time signs -- for any signs of hope. biden saying he will wait and see how russia acts from now on. haidi: let us get more on the ukraine talks and the latest developments. jodi schneider joins us now. jody, where do we stand when it comes to these negotiations? there are concerns that this latest overture from moscow may be tactical. >> the concern this is more talk then action or hope of action as antony blinken has said. the

he does think that is jerome powell, that they can steer a soft landing. first times we've seen the federal reserve do that. meantime, another big worry from the markets has been this dramatic spike in covid cases particularly in asia and china where shanghai disney has been shut down and more than 75 million chinese citizens are in essential lockdown right now. we're seeing spike in cases much of the european continent. record number of deaths for the country of italy. jonathan serrie following it all in atlanta, jonathan, the big worry could any of that come here, right? reporter: that is the big fear. here in the u.s. now the daily case level is at the lowest level since last july but the highly infectious omicron sub variant. ba.2 is driving cases in the uk. what happens there often happens here several weeks later. they are calling on congress to approve the white house request for additional funds to meet the challenge. >> our goal is to keep people out of the hospital, save their lives. we have more tools to do that ever before. our focus should be

. >>> this morning, federal reserve chair jerome powell will testify on monetary policy and the economy. before the house financial services committee. live coverage begins at 10:00 a.m. eastern on c-span3. online at c-span.org or watch full coverage on our free video app, c-span now. >>> renters from across the country testified to a senate committee about their living conditions and what they described as predatory practices by property owners and management companies. >> we talked about what housing looks like in this country. before last year, this committee was -- it's the banking, housing and urban affairs committee. it was too much about banking and wall street and too little about issues that matter to people's lives, particularly housing. we changed that. we talked about how hard it is for people to find a home where they can afford the rent. leaving one in four renters paying over half their income every month for housing. that was before the pandemic. we talked about the way the long, shameful legacy, how that shameful legacy has affected renters and inspired homeowners today

we have an unprecedented level of disclosure of what jerome powell is thinking. am awaiting him--i am waiting for him to put out a mood board about what he is thinking. he has waited and delayed on inflation, we are not sure he is going to end up. he has put himself in a corner and if he is behind the curve, people will be extremely concerned. there will by inflation sensitive assets, if he is ahead of the curve, we will have a position. it is a tricky position that they are in. >> the economy seems to be changing in form. you mentioned in your notes, the u.s. has fundamentally changed. >> if you look at the multiple factors, the great resignation that seems to be continuing and the nature of work in terms of hybrid or on-site. you have a bifurcation of what worked looks like. those who can work from home and those who cannot. the majority of our goods are made in china, we continue to have these massive supply disruptions. that is causing a lot of u.s. businesses to wonder if i need to onshore my supply chain? >> always great having your insight. plenty more to

day 2 of fed chair jerome powell's testimony on capitol hill. he faces the senate banking committee. mike mckee joins us now. how will jerome powell be reading these numbers that i just read out? give us some smart analysis of what is going on here. mike: if you look below the headline, we don't know whether it was omicron-caused or something to do with the economy slowing down overall. people are getting less money from the government. the supply and delivery times and inventories are not good numbers. it suggests there are bottlenecks causing inflation, and that leads us to jay powell and what he is going to think and talk about, since he has kailey's permission today. he said he will raise rates 25 basis points. he is in favor of it. what the chairman wants, the chairman is going to get. this is a message basically to the hawks on the committee saying you are not marginalized, we agree there is an inflation problem, and we can talk about it if things don't improve. inflation likely to fall this year. that is a statement made in yesterday's te

next, jerome powell testifies before the house financial services committee.committee holds a hearing on the rise in carjackings. then, the russian invasion of her native country of ukraine. >> c-span's washington journal. every day we are taking your calls live on the air, on the news of the day and will discuss policy issues that impact you. sunday morning, the latest developments in russia's invasion of ukraine. then, i law professor on the january 6 investigation, and the upcoming supreme court confirmation hearing. max boot discusses russia's invasion. washington journal on c-span, or on c-span now, our free mobile app. >> next week, the house and senate are in washington to work on passing a bill to fund the government before the friday deadline. the senate plans to vote on a postal service bill and consider the nomination of the texas sheriff as director of u.s. immigration and customs and smooth, on tuesday, on c-span3. directors testify on security threats facing the united states. then, the senate foreign relations committee discusses the russian inv

. ♪ announcer: the acting chair of the federal reserve, jerome powell, is back on capitol hill thursdayecond day of testimony on monetary policy on the economy. this time before the senate banking committee. watch live at 10 a.m. eastern on c-span3, online at c-span.org, or our free video app, c-span now. ♪ announcer: c-span is your unfiltered view of government. funded by these television companies and more, including sparklight. >> the greatest town on earth is the place you call home. at sparklight, it is our home, too, and now we are facing our greatest challenge. that is why sparklight is working around the clock to keep you connected. we do our job so it is easier to do yours. announcer: sparklight supports c-span as a public service, along with these other television providers, giving you a front row seat to democracy. ♪ announcer: next, a house to bid on the resolution supporting the people of ukraine. the resolution was introduced by the foreign affairs committee chair. and congresswoman victoria spartz. who was born in ukraine, when it was part of the soviet union. ise today i

>> jerome powell said the central bank would move more aggressively than expected to curve inflation. he made his remarks at the national association for economics in washington, d.c.. >> federal reserve chair jerome powell said the central bank may move more aggressively than expected and raising interest rates to curb inflation. he made these are marks of the national association for business economics annual economic conference in washington d.c. >> good afternoon. alright, you are a well behaved crowd. for those of you who were not here first thing this morning, i am dave i am the president, for those of you who were here this morning, i know the world is changing quickly. but i am still the same person i was. much too many people chagrin i am sure. so, almost two years ago was our last in person version of this event. and at the time we were talking about the election, tariffs, brexit, when i did not really contemplate the fact we might be viewing that as the good old days. that seems to be where we are. want to make some comments and thinking some people at all the roundtable ch

probably an understatement and probably wondering what jerome powell does next. here is charles payne. charles: hopefully we can give them some insight, thank you, my friend. i'm charles payne. this is making money. breaking right now spring is here, folks. it came early for the stock market which staged a remarkable rebound last week. one that will go down in the record books. the question now, is that the bottom? our market pros will break down the market to decide and how you should be positioned. plus has a potential mutiny at the fed actually changed jay powell's mind? federal reserve chairman sounding hawkish at the national association of business economic conference. will he walk the walk or walk the plank? what does a bloomberg writer think you should be doing to quell inflationary pain? let the pets die, stop driving. by the way, try lentils instead of meat. i will ask gary kaltbaum if they should just stop printing money. all that and more on "making money." ♪. ♪. ♪ it is spring again, i can hear birds sing again ♪ ♪ see the flowers -- charles: spring

i love that jerome powell.nd he got browbeat by the administration at the time and the fact that the market went down 19.9% from basically halloween, boo, until christmas eve of that year >> i think the fed has got to sort of bite the bullet and not care what the market does. it's not their mandate we seem to think it is -- >> the horse is out of the barn on that. that ship sailed long ago, to mix all of my metaphors together here. >> maximum employment and inflation, right not the market and that's to guy's point, somehow in 2018, they were hijacked by the market i think that time is over now. they got to do -- even if the market doesn't like it, too bad. >> if it really said, forget about the market, we don't care, they would have hiked already, i would think. they would have hiked in january. they would have done -- why not, bk >> i think karen is right, the dynamic has changed a lot. we have a different administration where main street matters more than wall street right now. i think the fed doesn't care a

jerome powell says he backs a basis point rise in inflation.he bank of england, money markets are banking on more than 100 in june. china may also move on the mlf rate and an official considers what was an aggressive growth target on the year. >> the biggest collective assessment of a changed world since russia's invasion of ukraine. the fed is likely to steal the limelight. the focus will be on the details and how jerome powell views the impact of the war in ukraine. the term will may be starting for markets. over the past four major tightening cycles, we never started the process with a correction in stocks and the yield curve this close. for those hoping for powell, there may not be sympathy for officials punishing russia. those are the major events in your week ahead. let us bring in our next guest who says we are in a collision pass of two storms. karen is global head of macro research. it is good to have you with us, we are seeing this inflationary weight in the real economy and a deflationary wave in markets. deciding where we go from he

seems to be leaning towards the jerome powell camp. the fed seem to be responding to criticism behind the curve. they have not acted fast enough to contain inflation. in the space of a week, we have gone from commentary over incremental rate hikes to a big move by chairman powell. fed officials weighing in behind him so by all accounts, a lot of the expectation is for bigger moves by the fed and that of course will lend itself to more market volatility. dani: thank you very much. that is enda curran, our chief asia economics correspondent keeping us up-to-date on the latest fed speak. let's get the latest on the were in ukraine and president joe biden and european allies are expected to announce new sanctions against russia when they meet in brussels on thursday. joining us for more is bloomberg's european correspondent, maria tadeo. biden promising more actions but europeans remain split. what sort of outcome are we expecting from this meeting? maria: it is a whole diversion of intentions. he says we are going to see more sanctions an

haslinda: jerome powell speaking earlier on the ukraine risk. let's discuss more and bring in freda amir. they manage 46 billion dollars in assets. she has a positive stance on equities. good to have you with us. it is all about commodities. take a look at the bloomberg commodities index. about 9% in the last few days. more than 120% in the last two years. at some point, commodities prices will be weighing on the outlook and market sentiment. >> yes. good morning. i think definitely come out we have seen commodities prices, especially oil at an all-time high. reaching $110 a barrel. especially with the russian invasion of ukraine. i think yesterday, what really came to the investors in the market was the federal reserve chair comparing remarks to the 25 basis point hike at the next fmo seat -- fomc meeting. definitely, this is a move by the fed to temper inflation and get that in check. look at all-time highs since the 80's, quite a basis point hike. i think it is really to get inflation in check. haslinda: even as you try keeping inflation in c

at 8:00 a.m., we get a number of central bankers speaking on a panel, including jerome powell and andrew bailey. this comes as a backdrop of a shrinking pool of yielding data. do these central bankers pushback? are they saying things are overvalued and we need to take the frog out to bring down inflation? do people respond or simile say things are going to be fine if you get inflation down and we can keep playing ball? at 10:30 a.m., we get a sense of how the u.s. is doing in terms of stockpiles of crude. we get oil inventories. i am watching this for the gas prices we have seen roll over. we have seen a little bit of a rollover. we see stockpiles go up or are we seeing a lack of liquidity and idiosyncrasies come as many have said? it is day two of the equality summit. the panelist i watching most closely, the san francisco fed as well as the u.s. secretary of commerce. does she come out and talk about further alliances fortifying certain relationships to supply us with commodities to get around russia? how much is that a focus is the u.s. starts to remove certain tariffs particularly wi

and on c-span3, federal reserve chair jerome powell testifies about the economy before the house financialvices committee. everything is available to watch at c-span.org or on c-span now, our free video app. ♪ >> c-spanshop.org is c-span's online store. browse through our latest collection of c-span products, apparel, books, home decor and accessories. there's something for every c-span fan. every purchase help support our nonprofit operation. shop now or anytime at c-span shop.org. >> in his first state of the union address, president biden outlined his economic agenda, including efforts to address inflation and rising energy costs. he also talked about the u.s. response to the coronavirus pandemic and russia's invasion of ukraine. >> madame speaker, the president of the united states. [applause]

fed chair jerome powell says the war in ukraine may accelerate china's move to develop alternatives toollar dominated international payment system. in the second day of his testimony, powell reaffirmed the likelihood that the fed would raise rates later this month. less than six weeks ahead of the french presidential vote, emmanuel macron has announced he is running for reelection. the incumbent is the favorite to win, with all polls show heading hemp -- showing him leading in first and second rounds of the election. 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. this is bloomberg. dani? dani: thanks so much. juliette saly and singapore. coming up, food prices soar. we look at the implications next. this is bloomberg. ♪ >> a little bit unexpected byproducts of the ukraine war, it is looking like supply chains -- it is not going to help at all with supply chains. >> russia is a very important supplier of weight, of corn -- of wheat, of corn, of corn, sunflower oil to the global markets. >> oil

. >> jerome powell talkers message royals markets.he fed signals it may raise rates at a much faster pace. haidi: vladimir putin may be narrowing his war objectives pursuing charity in east ukraine as president biden warns moscow is weighing a cyber attack against u.s. >> china faces its worst aviation disaster in more than a decade as investigators seek clu es on what a cost china eastern plane to plunge from the sky. a quick look on wall street with all about jay powell today, roller coaster ride for stocks. bonds getting crushed again after powell made it clear that he and his colleagues will do whatever it takes to bring inflation down, the most aggressive on rate hikes. it's interesting because stocks started tumbling after powell made his remarks. you can see the s&p futures have just turned positive marginally but the day started on a bed, on a good foot, got bad and got better. golden dragon index started the day on a rather negative footing after the pboc declined to cut the loan rate. you saw tencent and baidu and alibaba in

bank had kept borrowing costs near 0 to help the economy recover from the pandemic. fed chairman jerome powell also says, further rate hikes on likely in the near future. and james sweeney joins us from new york as always, james 1st rate hikes in 2018. what does this say about the state of the u. s. economy? well, to no surprise that the price is for many months the fed height, its interest rates $25.00 basis points. the 1st increase in 2018. and if you're asking, what does this mean about the state of the economy? well, it looks like the fed, it's finally taking those 1st steps needed to curb the highest inflation reed since the 1980s look, inflation is not going anywhere anytime soon. in fact, the central banks projections today also said that they expect inflation to remain elevated thing that we should end this year at 4.3 percent. and that's way more than the feds 2 percent annual target. and inflation is so high already. and one rate hike is a good start, a good much needed start. but if you want to know what this particular read high can possibly several more means for the us economy fo

i think jerome powell will make it clear that he will be advising 20 five basis points.he market today is claiming. what we have in mind is 20 five basis points at each meeting until the summer, which would make it a total of 100 basis points, then the fed pausing. we will also have actions in november and the u.s., and central banks don't take decisions during elections, but that will give the fed the time to reassess the situation. as you have rightly mentioned, food inflation is high. we get to a strange situation in the u.s. where food inflation is higher than dining out inflation so this will dent people's ability to spend. the starting point is still the u.s. consumer, which is well off, thanks to the support measures during the pandemic. the starting point is not one were people have a lot of debt, where houses are coming down, so we are in better shape today compared to the last time when you had inflation rising up, which was basically 2010, post-lehman brothers experience, so they will have to take that into consideration. i think 20 five basis points is what s

. >> wednesday federal reserve chair jerome powell will testify on monetary policyand the economy before the house financial services committee . live coverage at 10 am eastern on c-span three or watch free coverage on our free videoapp, c-span now . >> house minority leader kevin mccarthy and other top republicans priest

so the books don't make you optimistic about whether jerome powell will succeed. ris ing prices forget about how the fed reacts to them, do weigh on consumers, they stop paying for a lot of these goods. it's one thing to pivot from chicken to turkey to tofu, but it's quite another one when you run out of those options and shutdown. how likely is that? >> right. you know, one thing to look at i've been looking at very closely is just real income growth and since wages haven't been going up as fast as prices, then real income growth right now is in the sort of minus two or minus three range depending on which measure you use and you know, in the end, there's an income account and a product account in gdp and if the product accounts declining two quarters in a row you call that a recession well if the income is declining then the product accounts going to catch up to it eventually and so i think we really are looking at a very high recessionary risk at a time with super-high inflation and it's an incredibly unfortunate mix as you say, but i think that if we don't get

jerome powell expected to raise rates.hat assumptions are you making in terms of fed rate trajectory and how will that impact the movements? >> we expect the fed to increase rates by 25 basis points at the march meeting. we think the next three meetings will see a 25 basis point increase at each meeting, with 100 basis points by the end of the year. we think they will pause in the second part of the year as the effects of the interest rate hikes take effect. we see investors price in rate hikes early on, so we tend to see a movie and decisioning in a move lower in price is ahead of a potential rate hike. gold is still taking its cue from real yields, correlation at the highest in over a year, the fact there are concerns about inflation risk and heightened geopolitical tensions has offset concerns around potential rate hikes and has pushed gold heise is -- prices higher, so we believe prices will continue to extend gains. it is not unusual for gold prices to edge higher after rate hike. in fact, we can see most of the downs

federal reserve chair jerome powell is using a more aggressive tone toward curbing inflation and he didust a few days ago. powell said the fed is prepared to raise interest rates by half a percentage point at its next meeting if needed. last week policymakers increased the benchmark by .25 points. regulators are trying to figure out why a boeing 737 suddenly fell from the sky. the crash is believed to have killed all 132 people on board. air crash experts are baffled by the plane's nose dive from 29,000 feet. china grounded its fleet of those planes. alibaba has ramped up its share buyback to $25 billion. china's e-commerce giant is reacting to a $470 billion loss of value during beijing's internet crackdown. the government has pledged to support the economy and finish the clampdown as soon as possible. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i'm ritika gupta. this is bloomberg. ♪ >> the expectation was that we would see inflation peeking in the first quarter, then may be leveling out and

jerome powell has been -- jerome randall has been playing basketball in ukraine for years, but he has have created a lot of good relationships with people in ukraine, players and people who don't play basketball. it is tough because they have families, kids, everything, and then they start sending me pictures of where they are and it is more underground. it is hundreds of people underground just waiting, scared to even go inside their house because they feel more safe being underground. tv, it is almost like they prepare themselves for this in years to come, so it has been there for years. i couldn't imagine actually being there. i couldn't imagine dealing with that. i feel like as a country wit the sport, and everything we have, i don't think we can kill something like that. >> the warriors hit the road after blowing a 21 point lead to dallas last night. the ducks have dropped five of their last games. steph curry saw a lack of energy and efficiency that he needs to get fixed. >> this is the most important part of our season and if you get out there, you have got to impact the game,

jerome powell has been -- jerome randall has been playing basketball in ukraine for years, but he haso fleet. this is a bond that goes beyond basketball. >> it hurts because i have created a lot of good relationships with people in ukraine, players and people who don't play basketball. it is tough because they have families, kids, everything, and then they start sending me pictures of where they are and it is more underground. it is hundreds of people underground just waiting, scared to even go inside their house because they feel more safe being underground. tv, it is almost like they prepare themselves for this in years to come, so it has been there for years. i couldn't imagine actually being there. i couldn't imagine dealing with that. i feel like as a country wit the sport, and everything we have, i don't think we can kill something like that. >> the warriors hit the road after blowing a 21 point lead to dallas last night. the ducks have dropped five of their last games. steph curry saw a lack of energy and efficiency that he needs to get fixed. >> this is the most important part

you were talking about jerome powell increasing interest rates.on. and the big question is what these two countries are going to do in terms of oil production down the line. with it, they will be able to alleviate some of the pressure we've seen in the markets. >> all right. watching that very closely, eleni giokos joining us from dubai. many thanks. thank you for being with us this hour. i'm rosemary church. our breaking news coverage continues after a short break. stay with us. i recommend nature made vitamins, because i trust their quality. they were the first to be verified by usp, an independent organization that sets strict quality and purity standards. nature made. the #1 pharmacist recommended vitamin and supplement brand. we gotta tell people that liberty mutual customizes car insurance so you only pay for what you need, and we gotta do it fast. [limu emu squawks] woo! new personal record, limu! only pay for what you need. ♪ liberty, liberty, liberty, liberty. ♪ are you a christian author with a book that you're ready to share with the wo

inflation is running at a 40 year high and jerome powell said it would take longer for it to return tohe target of 2%. the u.s. central bank projected rate increases at each of its six remaining policy meetings this year, which would push the rate to 2% by the end of the year. global stocks have mostly rally wednesday with hong kong bouncing back from an earlier plunge, they are finishing up 9%. shares accelerated their rise with the dow closing session highs up nearly 4%. in europe, indices rose sharply with paris and frankfurt closing up 3.5%. trading resumed in london this wednesday after more than a week of suspension, but chaos continued. the metals exchange was forced to halt after minutes of trading because of technical issues. prices went down beyond the new trading limit put in place to limit volatility. the war in ukraine was already driving up prices. increasing costs for many businesses including here in france. for the moment, they have enough stock. prices have been rising. >> last offer i had this for 140 euros. that's a huge increase. reporter: with the firm back on its

jerome powell made the announcement following his latest meeting with the federal reserve. he said to expect additional interest rate spikes to occur before the end of the year. shortly after the news conference, jerome powell's nomination to serve as fed chair for a second term was favorably approved by the senate banking committee. >> good afternoon. i want to begin by acknowledging tremendous hardship ukrainian people are suffering as a result of russia's invasion. the human toll is tragic. financial economic implications for the global economy and u.s. economy are highly uncertain. achieving monetary policy goal congress has given us, maximum price stability. today in support of these goals, they raise policy interest rates by one quarter percentage. the economy is very strong and against the backdrop of an extremely tight labor market and high inflation from a committee anticipates ongoing increases in the target range for the federal funds rate will be appropriate. in addition, we expect to begin reducing the size of our balance sheet. economic activity expanded at a

remember those comments from chairman jerome powell, he said central bankers would move expeditiously to curb red-hot inflation. even hinting at raising the federal funds rate by about 50 basis points. the market overall has looked for 25 basis point raises. this is the benchmark ten year treasury yield to 2.39%. that was the highest level that we have seen since may of 2019. as yield rise prices fall. financials moving up with these bond yields right now. a lot of questions and a reversal of thinking if you will about the comments from jerome powell yesterday. it will also be rising yields and put a damper on demand as companies like nike have to navigate potholes. we want to get to the floor so scott pullman and tim anderson. i will start on a couple of things. the thinking on the market fascinates me. yesterday they had a massive selloff over the comments by powell. we look at goldman sachs said rethinking 50 basis points rate hike in may and again, one in june. both months. that's pretty aggressive. today it seems that mark is saying wait a minute. powell's comments believes the e

haidi: jerome powell speaking earlier on the ukraine risk, energy commodities are surging.et's discuss with the ing chief economist and head of asia-pacific research. big jumps when it comes to call producers, across the commodities complex in particular. for countries like china and india, what are the implications? >> there are a number of channels through which this conflict can have impact. if you look at the direct trade of countries in asia, one of the best news for us is there isn't that much. we don't do a lot of direct trade with russia, korea, vietnam are three of the countries that do the most. we're talking about small numbers. russia is just one supplier of energy across the region. we have a couple of net energy exporters as well, you took about coal, australia is in that market. on some basis you can say it's a game, but you have to be clear we don't see any economic winners. the report you mentioned earlier about $1 trillion knocked off global gdp, no one feels good about themselves. haidi: having said that, we heard from powell that he is confident going ah

su: jerome powell raising the key interest rates.r of a half-point hike. >> it is clearly time to raise interest rates and begin the balance shrinkage. as i looked around the table, i saw a committee that is acutely aware of the need to return the economy to write stability and determine to use our tools to do just that. su: president biden says he will send drones and antitank missiles to ukraine as part of the new package to help the country fend off russia. it follows an address to congress by the ukrainian president. >> remember pearl harbor. the terrible morning when your sky was led. just remember it. remember september the 11th. su: the united nations tried you know has ruled -- the international court of justice found ukraine had a plausible right not to be subjected to military operations. if russia does not abide by the order, the top court has the ability to refer to the security council. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 count

and so i think that jerome powell is being hopeful at best if he thinks inflation is simply going toieve the fed of the responsibility for raising interest rates higher than he is suggesting is going to happen. paul: so there's, obviously, a political problem here for the administration, and president biden is trying to respond. first he blamed vladimir putin for the price increases in gasoline, and then heed had this to say in a tweet. i want to read it. oil prices are decreasing, gas prices should too. oil and gas companies shouldn't pad their profits at the expense of hard working americans. adam, do you buy the president's analysis here of greedy oil companies keeping gasoline prices too high? >> well, the strange thing about this, paul, is that it seems like oil and gas companies have just figured this out right now. they've, you know, they've existed for quite a while. you watch there will be blood, they've been around for a very long time. but all of a sudden just because joe biden is president they've decided that that now they're going to become greedy, now they're going to

me now senior business correspondent, charlie, people are thinking foreign policy crisis, but jerome powell doesn't necessarily come to mind. why is this important? >> for economy should come to mind. the economy is in a precarious position despite the good headlining. very strong allegedly and employment is very low. we have raging inflation. i'm not in sight vladimir putin's brain cells, but he did pick an interesting time to do what he's doing. he knows the federal reserve has to raise interest rates and he knows interest rates is out of control. he knows the left wing of this country controls the white house won't let us drill more and produce more energy. but put all that together, he is not worried about the implications on his end of the invading ukraine because he knows that the biden administration is not going to have even more inflation by cutting off his ability to sell oil. one of the reasons why powell is to blame for this is because he had been creating the inflation that is in the economy already. he has waited two years, essentially to taper money printing. he's been printi

i think for investors, one of the things we need to swing our focus back around on is jerome powell.e here. i do think what's going to happen is jerome powell will not raise rates as much as wall street thinks he's going to, and that's going of to have implications all throughout the stock market. i think it'll have positive implications eventually for the nasdaq. but in the short run, i think we need to be really careful because this is a news-driven cycle, and we can't use the typical investment metrics in something where, in an era, in a time frame where news is going to hit you at any moment. it could be strange, it could be something we haven't dealt with in a long time. investors don't like it. i think we have to be very cautious. maria: yeah, i understand what you saying, you don't want to have knee-jerk reactions in a situation where we don't know where this is going. markets are lower this morning, they finished down yesterday, and the dow, the s&p 500 and the nasdaq are on pace for another negative week, jim. but oil prices have been the story, howeverring around $ -- hover

jerome powell -- when blackrock says something, jerome powell listens.te house that used to work for blackrock. that is a big thing. if blackrock is saying worry about inflation, that means biden has to get on his horse and powell as well. liz: okay. you need to stop talking because we just hit a new session low, loss of 419 points, slightly off it right now, 397. >> i still think we're only down 400 points. by the way, have you seen amc lately? not doing great. liz: yeah. >> you got the gold mine. ♪ i got the shaft. liz: grab a pencil, everybody. today's $26 billion countdown closer has three picks with characteristics of stocks in your portfolio, absolutely must-have. you're going to hear that. we are 8 minutes away from the closing bell. yes, we're seeing a bit of a struggle here but, again -- somebody help me. ♪ amc got to -- ♪ ♪ (vo) while you may not be closing on a business deal while taking your mother and daughter on a once-in-a-lifetime adventure — your life is just as unique. your raymond james financial advisor gets to know you, your dreams,

everyone says federal reserve chairman jerome powell has to walk a tightrope, not turning the economy into recession. the tightrope that they believe he can pull it off. on that score jay powell once again able to begal equity investors. including am big with at this whether or not quantitative tightening when it would happen or when it would happen, powell gave amazing performance in my mind, when he talked about inflation, right? first he gave us the academic answer. the probability of recession in next year is practically elevated and demand is currently strong and most forecasters expect it to remain so. that didn't move the needle. he had a chance later on when someone brought brought him to the same question. he gave us in same terms. signs are economy is strong. that is all we needed. stock market took off like a rocket. you see how we closed. i outlined on tuesday why it is why it is important for stock market. s&p down 18%, whether it snaps back, v-shaped recovery, whether there is recession or not. if we do get recession, it slogs along for the next 12 months. with that in m

ahead of fed chair jerome powell 's expected announcement tomorrow, that interest rates will rise by just a quarter of a point, that be the first rate hike in more than three years, take a look at the 10 year yield it is heading up the hill, we're at 2.156%. i want to give you a little context here. this morning it had retreated from yesterday's two and a half year high of 2.14% it went down to about 2.08% this morning i think i was looking at it around 10 a.m. but as you see right now , we are now at 2.154%, so as we watch all of that, we've got to look at oil taking a plunge from its 14-year high it just hit. it is down seven and one-third percent in the after market you've got opec with fears that the omicron variant will curb demand as infections sweep across china. china has lockdown more than 30 million people that's the latest number they've shut factory doors, closing seaports and that of course is adding to oil's downward pressure but lower oil, great news for the airlines. they are climbing with the surge in travel demand giving the commercial liners a boost to offset high

. >>> coming up, jerome powell signing off on the first interest rate hike in three years. the impact on our economy and of course your wall elts straight ahead. >>> and with president biden signing off on that $800 million in military aid for ukraine, he still stops short of what the ukrainian president said he wants most. how much the latest could actually hem. >>> but first, kids who fled ukraine drawing as therapy with vivid images and descriptions of all they've been through. [yawn] bro trip! if you book with priceline, you'll save more, so you can “broooo” more. [impressed] broooooo. broooo!!!! broooo!!!! broooo!!!! [in unison] brooooooooo!!!! [splash] [disappointed] broooo... good thing you saved on the trip! priceline. every trip is a big deal. every business is on a journey. and along the ride, you'll find many challenges. ♪ your dell technologies advisor can help you find the right tech solutions. so you can stop at nothing for your customers. >>> this morning, more pressure on president biden to continue ramping up aid to ukraine even after signing that package y

federal reserve chairman jerome powell fielding this question on capitol hill this morning. other alternative payment methodology to avoid these sanctions? >> i saw that crypto transactions are spiking in the ukraine and in russia. i just, i think it really underscores the need to have a strong regulatory regime that permits appropriate activity but that prevents inappropriate activity. liz: listen, it's the same with the u.s. dollar. appropriate activity, inappropriate activity. joining us now on the set, ceo of leading enterprise block chain company ripple, brad garlinghouse. yes, of course, related to xrp. brad would know a thing or two about this along with charlie gasparino. >> i i know nothing. [laughter] liz: what do you make of what powell said? >> what did he say though? did he say anything? >> it's not entirely career. -- clear. i and the team at ripple feel so strongly about standing with the people of ukraine, and i just want to put that out there. i fear that there's a lack of knowledge, there's a lack of information about how crypto really works. and i think it

. >> jerome powell said the central bank would move more aggressively than expected to curve inflation. he made his remarks at the national association for economics in washington, d.c.. >> federal reserve chair jerome powell said the central bank may move more aggressively than expected and raising interest rates to curb inflation. he made these are marks of the national association for business economics annual economic conference in washington d.c. >> good afternoon

fed chair jerome powell said the probability of a recession in the next year is not very high. nikkei average ended the day at 26,652, up 890 points or nearly 3.5% from wednesday's close. investors placed buy orders almost across the board. the result has extended the nikkei 225's winning streak to four days. analysts say traders are also more positive at the prospects for cease-fire talks between russia and ukraine as well as china's effort to shore up its economy. >>> japan's private sector machining orders have fallen for the first time in months. it's a key figure of capital spending in japan. the cabinet office says orders from manufacturing and nonmanufacturing sectors were down by a total of 2% in january from the previous month in yen terms. the figure came in at $7.6 billion. that excludes highly volatile orders from ships and from electric utilities. orders from manufacturers were down 4.8%. the decline followed large numbers for vessels and nuclear power plant equipment in december. weak orders for construction machinery and communications equipment contributed to th

fed chair jerome powell told the u.s.financial services committee last week that he favored a quarter point rise, but would be prepared to move aggressively -- more more aggressively if strong inflation persists longer than expected. >>> and later in the week we will see key inflation gauges from the eurozone and japan. let's begin with the single currency bloc. the european union's statistical office will revise february consumer prices for the euro area on thursday. euro stats early estimates projected an annual inflation rate of 5.8%, up from 5.1% in january. energy costs are expected to have risen by the highest rate on record in february, pushing up inflation across the eurozone. now, russia's invasion of ukraine has also triggered a surge in prices of crude oil futures. on friday it will be japan's turn to release february inflation data in addition to a policy decision from the bank of japan. the consumer price index excluding fresh food was up 0.2% in january from a year ago. but the internal affairs ministry says

. >>> jerome powell testified on the economy. you can watch it tonight on 8:00 eastern on cspan 2 or on our free video app c-span now. >>> american history tv saturday's on c-span two. at 2:00 p.m. eastern on the presidency part one of our eight part series first ladies. we will look at the whole of the first lady. their time in the white house, and what was important to them. first is lady bird johnson. >> we are breatheless and too much looking down and too fast, not enough change of pace. >>> as president biden names brown jackson as his nominee for next supreme court justice. we'll look at senator biden's time on the senate judiciary committee. we will also look at those who interviewed him. exploring the american story watch american history tv saturday on cspan 2 and find a schedule on your program guide or watch online at cspan.org/history. ♪ [ music ] ♪♪ >>> sunday on q and a. writer donna spoke about the speech bank. an online archive that women have been unjustly overlooked. this includes speeches by queen elizabeth the

. >> reporter: federal reserve chairman jerome powell told lawmakers the federal reserve still plans to begin a series of interest rate hikes this month as it tries to rein in inflation. >> inflation is too high and we are working on it. >> reporter: powell's testimony comes as the national average for a gallon of gas is nearly a dollar more than last year, according to aaa. recent federal data shows used- car prices are up more than 40%. eggs are 13% higher and electricity is up 11%. >> what we are facing is an elevated level of demand in the face of supply-side constraints and the collision of those things is creating inflation. >> reporter: mister powell also said the fed will closely monitor the crisis in ukraine and proceed carefully. >> the near term effects on the u.s. economy of the invasion in ukraine, the ongoing war, sanctions, and events yet to come, remain highly uncertain. >> reporter: if the war in ukraine continues and oil prices remain high, the fed may have to raise rates more quickly. cbs news business analyst said the fed is walking a fine line. >> if they don't r

fed chairman jerome powell also said that he believes that inflation will come down in the second half of this year. san francisco educators are camping out at district headquarters for a third night. it's over the district's new payroll system, which has left more than 1000 employees with missing paychecks are less than their full pay. most of those cases have now been resolved, but nearly 60 are still outstanding about 15 teachers have occupied the district offices for protest. we came here committed to stay in charge demands for pay for accountability and to fix the system were met. the teachers want the money paid with interest and the district to take accountability. they say the district has promised to give them more information tomorrow, one of the largest school districts in the state, now one step closer to a strike by its teachers. educators from the mount diablo unified school district gave the green light but not every parent is happy with this possibility. ktvu zach sauce joins us now live from concord with more on the story, zack. yes my teachers here say it really comes