kriti: that was christine lagarde and jerome powell.e are going to bring you that conference as we learn more but for now, michael mckee is joining me. we heard comments about what jerome powell in particular said , that he supports moving more quickly and frontloading those hikes at a time the market is pricing in a three 50 basis point move. >> he did not endorse the move. he all but said they are going to do 50, then see what happens. but he did not push back against the idea either. i think the fed at this point is willing to let them go there. the markets will price in, and that may be -- that may have a slowing effect and they can take a look around once they get there. kriti: another thing that stood out is what president lagarde said. she said the european recovery stalled to a great degree. i do not think that comes a surprise, as the war in ukraine has more seriously hit europe and the u.s. i am wondering how long they can prolong that until they get hit hard. >> the longer the war goes, the worse it gets. particularly if they

senate banking committee member pat toomey asked unanimous consent to consider the nominations of jerome powell to serve a second term as a federal reserve chair and philip jefferson to be a member of the federal reserve or. he makes the request shortly after republicans blocked the nomination of lisa cook to be the first black woman to serve as a member of the federal reserve board. senate banking committee chair sherrod brown objects, accusing republicans of trying to embarrass the nominee well two democratic senators are absent due to covid-19. the senate is expected to vote on lisa cook's nomination again at a time to be determined. this runs 15 minutes. mr. president, the chairman of the banking committee spoke before this vote and made the point he wants to have a vote on all three fed noms. i want to have a vote on all three fed noms that have been under consideration in the exchanges today. republicans want to vote on all three. we just voted on one. one of the three our democratic colleagues filed cloture on. the cloture ripened, it came due, we had the vote. the obvious thing to do he

>> jerome powell has suggested -- it's interesting that it will be the roaring 20's.y will debate whether it's a technical recession or a technical recession or growth slow down. it appears the central bank is willing to sacrifice growth and that's how monetary policy effectively works. it suggests the reaction function of the fed has so far told us is willing to sacrifice growth in order to calm inflation. that makes sense now with inflation high end feels like it's overheating. it will not make much sense in six months. jonathan: can you run us through what make the mechanical peak means? >> gets around march or april but i did took con -- comfort in that. covid inflation was always going to be transitory. we have to move away from the mechanical piece of inflation. we have been complacent about the damaging impact of inflation on growth because where it was coming from is not necessarily good but the help them asian will create a much bigger drag on growth that's why the fed will have this covered for a pivot later this year. inflation will look a little bit differ

market's got a reversal as fed chair jerome powell invoked the 50 basis point interest rate hike prospect as soon as the may meeting. so we've got the major averages to the downside. dow jones industrials with a swing of more than 500 points. down 289 right now. s&p lower by 57, the nasdaq down nearly 2% right now, a loss of 259 points. so as powell pours cold water on the markets, elon musk's tesla shares are charging up after reporting record profits. all the while musk's twitter, of course, the biggest shareholder this, rounds up more than $46.5 billion for his takeover attempt. the floor show is here to react on that. all kinds of other issues including disney, powell, netflix and more. now, elon did warn of a supply chain problem ahead, but semiconductor maker wolf speed is hoping to help out elon and the other automakers by opening a new chip plant in upstate new york, right here on american soil. its ceo is here in a fox business excrossive to tell -- exclusive to tell us all about it. plus, binance pulls out of russia. the ceo of crypto security firm fire blocks is here in a fox b

i will go back to a phrase we haven't used in days which is jerome powell is central banker to the world. can he go 50 and 50 and ignore canada, ignore the rest of the world's? i don't think so. jonathan: even though inflation is 8.5%? tom: in the chinese yuan is higher as well. jonathan: the head of the blackrock investment institute joins us now. you still like equities? >> we've covered a bit of the landscape here and i agree that we will end up living with more inflation then they are suggesting. we are only talking about normalization. i don't think they will go beyond neutral for now. it shows unemployment rising. we see a bit of hawkish in this driving markets at this juncture. we think we will see a rate more conducive of equities. it's a relative call. tom: we are looking on the bloomberg terminal with some reveling in emerging markets indicated by currencies. you grew up with a phd at the house of bernanke at princeton where he believes financial stability is everything. from your view at blackrock, how financially stable is em right now? >> em is a big stays -- is a big space.

. >> reporter: stocks fell thursday as jerome powell indicated a half-point interest rate hike is likely next month. the dow was down 360 points, the nasdaq dropped 278 and the s&p 500 did the five. elon musk says he has lined up over $46 billion in financing for his bid to buy twitter. in documents filed with the sec this week, musk, the world's richest man said he would include $21 billion of his own cash in the offer and would borrow the rest. in a tweet posted yesterday, he said if our twitter did succeeds, we will defeat the spambots or dry trying. >>> warner bros. discovery is pulling the plug on cnn's new streaming service. the company says cnn plus will cease operating on april 30th, just one month after it launched. the decision to end the service came just two weeks after discovery took control of cnn's parent company. and that of your cbs moneywach report. at the cbs broadcasting center, i am naomi welcome. >>> earlier this week we took you to the lunch rush at yo-yos where they are considering closure. but after our aired, the landlord had a change of heart about that increas

the physical responsibility of maintaining -- managing the endowment, ended the luck of having jerome powell in charge of the fed and announcing in march that money was free and what happened made it quite possible for us to think about debt instead of taking money out of the endowment. it was a matter of arbitrage. david: was it hard to convince your trustees to do that? darren: they thought it was out-of-the-box. no foundation had done that before. once the investment committee started to think about the options, it became clear it was the best option. david: for you able to get other large foundations to do the same? darren: there were a number of foundations that would have done this. , kellogg, macarthur, doris duke, but the bigger message was that we needed to do more than simply going by the irs minimum 5% payout. at a time of covid when we had more money than ever, it was not morally defensible to spend 5%. david: let's talk about george floyd. you lived through the civil rights revolution in the 60's, and we have the post-civil rights efforts in the 70's and 80's. it was not until g

fed where they put themselves into a difficult position, which is why jamie dimon has pity for jerome powell and the question is, can they engineer a soft landing at all now? or is the only choice to give us a hard landing that isn't too painful? we definitely expect a couple of 50 basis point rate rises coming in the near term. jon: lots of that coming up, in los angeles a firm getting a name change, kia securing a multiyear deal to rename a venue the kyiv forum. let's bring in the kia america chief operating officer and executive vice president to talk more about it. nice to have you with us, stephen. i remember you coming to the forum in 2014 after $100 million of investment to really rebuild things from the ground up. it is quite a facility. how did this all come together for you? stephen: well, it's very exciting to be affiliated with the forum. it's an iconic music and sports forum. kia, we are a southern california youthful brand company and we are very excited to have our name on the building here. matt: kia is doing incredibly well, at least in terms of, you know, the design and the

sarge, you believe jerome powell lashed on investors. >> well, he had to. i don't think we as a group were quite on to how aggressive the fed wants to be. i think we baked in the 50 points in may, nobody really thought they'd go 75 points in june, nobody had 50-75 points in july, now the futures market in chicago has all of that, plus another 25 each month after that. so now probably too much tightening is baked in. almost $9 trillion worth of balance sheet, and a lot of it's going to have to come off, and they're going to be aggressive -- liz: okay, these are all things we know. you are absolutely right, the market should have been ready for this. in fact, it was bank of america months ago there are going to be seven rate hikes this year, and everybody said, no way. they are right, they are ahead of that. nomura's correct, most likely. but now we've got the s&p down 109 and, sarge, i mean, this is -- i'd say this is a pretty significant selloff with the nasdaq down 310 points, and we don't see bar gain hunters out. -- p. >> no, we don't. it's not the capit

inflation indicator and we'll have the employee cost index which fed chair jerome powell is his preferred measure to see how inflation is unfolding. he did cite that in december why they were getting more aggressive. >> i have to say i am pleased through the huggies stage through parenthood right now. join but i'm still buying plenty of kimberly-clark products. i do wonder when we look at the outlook for earnings for other players out there, the bloomberg intelligence team has been taking a pretty close look at what the actual inflationary effects are going to look at when it comes to the end of the quarter. kriti: you know some companies will manage inflation better than others. >> and it comes down to, do those costs rise higher than the sales do? kimberly-clark is a clear exception here. when you look at american express, for example, they're bringing on new clients. sonali: the reserves didn't decrease as much as analysts expected. remember, wall street is such a big risk management here, jon. they're a lot of reading the tea leaves for what could go wrong this year and what companies

charles: in 2018 jerome powell highlighted that doing too little comes with higher cost than doing toon to become unanchored. now, he's been talking the talk for a long time, jack. what camp are you in? do you think he will walk the walk and really give it to us hard, break inflation even if it means putting us in recession temporarily? >> yeah, i think that's where he's going. paul volcker is one of his heros i think he also believes, as i do that probably paul volcker is one of the long term thinkers in washington everyone is looking just past the end of their shoes , so i think that taking this stance, i think is probably at least consistent with his views and letting this inflation run probably was a mistake if you look at the five year forward now, what the fed's preferred method of looking at inflation expectations, at 2.9 it's the highest level since 2014, so the expectations are starting to rise and that's a main concern of the fed and i think they just want to extinguish that as quickly as possible. charles: let me quickly go back to that einhorn letter there's something else

chair jerome powell said on monday the labor market is extremely tight.ssibility of a bigger rate hike to restore price stability. he says the war in ukraine adds upward pressure on inflation from energy, food, and other commodities when inflation is already very high. okay. let's get a check on the markets. ♪ ♪ ♪ >>> that's it for "newsline biz" from tokyo. i'm ramin mellegard. thank you very much for watching. ■x■xo7Ñ;Ñ;?k ♪ >> you are watching al jazeera. a reminder of our top news stories. more russian shelling in northern ukraine despite promises to scale back. libraries, homes, and markets have been destroyed and northwest keith has seen -- northwest kyiv has seen explosions and fighting. >> russian forces moving away from theit

that is what jerome powell, the chairman of the fed, already said. he raised rates 1/4% at the last meeting. this is the fed trying to cool off hot prices, but they are also trying to avoid triggering a recession. there is concern that while consumers continue to spend right now, they could pull back and that would be bad news economically and potentially also have political ramifications. we are going to talk to our republican guest, adam kinzinger, about that, and whether or not this is something that will affect votes in november when it comes to people electing local representatives. >> you can watch "face the nation" sunday morning at 8:30, right here on kpix 5. >>> new at 3:00, house boat owners out at alameda are getting some relief from rent hikes. >> reporter: 66 people live here in the marina, a community of floating homes in alameda. many of the people who live here have done here for a very long time. 30, 40, 50 years. for the past several months many have wondered if they will still be able to afford to live here. residents tell me new o

he will join jerome powell in the fed's fight by raising interest rates. >>> and home prices skyrocketed in february compared to a year earlier. according to the s&p home prices index property values shot up 19.8% due to a lack of supply. americans want homes in warm weather cities, phoenix, tampa and miami all saw about a 30% bump in prices. for more head to cbs money watch.com. at the cbs broadcast center. >>> it took a few seconds to register that was gun fire that terrifying video from south carolina where someone fires dozens of gun shots near a children's baseball game. it was shot by a player's parent. back here in the bay area a home security camera captured a terrifying shoot out in menlo park. >> this happened monday in the bell haven neighborhood that was posted by the local newspaper. you can hear dozens of rounds going off. two groups were shooting at each other. officers made two arrests and recovered a gun. >>> no more rain expected any time soon sonoma is preparing itself for fire season. andrea has more on how home ownerns are protecting their property with money from pg

i was astro struck that both the fed chairman jerome powell and janette yellen have both said it's timehe term transitory. i guess the question are we going to be dealing with high prices for a whi? is inflation here to stay? >> i think the picture is a little bit complicated, mostly due to the war in ukrne. so we have points of inflation that come from the coronavirus pandemic. we have supply chain issues and we have weirdness in our demand. we had a lot of demand for goods during the pandemic and now some of that demand is switching over to services, which didn't have demand during the pandemic. that whole dynamic is making prices very wonky. that will pass but the probl is now we have to deal with the war in ukraine and that has led to rising prize -- pricings in commodities from wheat to oil to fertilizer and that is going do complicate things and we don't know for how long. >> inflation is damaging for a white use on multiple levels. one, there'sittle this president or any president can do to retain costs andt's an issue for every american. >> that's the key. to use the political c

fiscal responsibility of managing the endowment, and of course, because of the luck of having jerome powelln charge of the fed and basically announcing in the middle of march that money was free, i mean, basically, and what happened with the yield curve made it quite possible for us to think about debt as opposed to taking money out of the endowment. and so it was really just a matter of arbitrage. david: was it hard to convince your trustees to do that? darren: initially, they thought it was out-of-the-box, of course, because no foundation had done that before. but once, especially the investment committees, started to think about the options, it became clear it was the best option. david: were you able to get other foundations to do the same? darren: there are a number of foundations who have done this. macarthur, kellogg, doris duke. and we now have probably eight or 10 who have issued bonds. but the bigger message was we needed to do more, that simply going by the irs minimum of 5% payout in the time of covid, at a time when, ultimately, we had more money than ever, it simply was not mo

usa on the eve of jerome powell. warned for the economy of the united states events.ll have as a result, inflation will be even higher, and production volumes will decrease, and only american arms manufacturers will rub their hands in anticipation of their shares and so skyrocketed in price due to the unlimited supply of ammunition to ukraine. but the real gold rush of the industry is predicted in the future and is connected. she's definitely not with an ex. against the backdrop of events in eastern europe, the eu countries are re-equipping with their army as a soviet republic. the europeans are entering into multibillion-dollar contracts with the americans in parallel as shuttles, making several flights a day, pentagon transporters deliver weapons worth 800 million to ukraine last week and this week, for the same amount, for example, kiev will receive 72 howitzers and 140,000 shells for them. it will fly to ukraine and 121. drone phoenix ghost phoenix phoenix ghost is a drone that was in development even before the invasion, it is obvious that the air force was worki

we have heard from jerome powell, the head of the federal reserve in the united states saying, "yes,ore aggressively." there is hope, certainly, that this will dampen down demand, but the real worry is, if you take that much more aggressive path, that could lead to a spiralling down in demand, and could push the us economy into recession. what needs to be avoided is a deep recession, perhaps a shorter recession next year will be concerning, but certainly what the markets want to see avoided is a deep recession, and it is feared if inflation isn't kept under control and is more aggressive path is taken, it could lay the ground for a much more deeper recession going forward. we have already seen house prices — even though i should say we have seen those prices continuing to march upwards, the fear is that actually it could all escalate. so by taking this approach now, it is hoped that actually it will avoid a more significant downturn forfurther in avoid a more significant downturn for further in the future. it downturn for further in the future. , ., , future. it is an interesting tra

recent comments from jerome powell suggested that inflation is not transitory.was a debate for last year. he will probably be persistent. gold is invested in an inflation hedge. also, what is happening in ukraine, geopolitics, all of that, they have had a big impact in the first quarter as well. >> may be tell us what that meant jewelry demand moving forward. maybe once we see china emerge out of these virus measures in covid lockdown, is that pent-up demand great enough? i am just wondering -- does that change consumer demand in any way? >> on jewelry demand, the jewelry market is global but it is dominated by china and by india, there was a softening in both markets because of the high gold price and lack of festival buying in india. in china, it was about the covid story and the lockdowns. that will be temporary. when china does eventually reemerge again i would expect delivery demand in china to recover. let's not forget, we are comparing 2041 q1 -- we saw a massive rebound in consumer demand. previously it was the height of the covid crisis, lockdowns world

senate banking committee member pat toomey asked unanimous consent to consider the nominations of jerome powell to serve a second term as a federal reserve chair and philip jefferson to be a member of the federal reserve or. he makes the request shortly after republicans blocked the nomination of lisa cook to be the first black woman to serve as a member of the federal reserve board. senate banking committee chair sherrod brown objects, accusing republicans of trying to embarrass the nominee well two democratic senators are absent due to cov-1

jerome powell may reinforce bets that the fed will raise rates.red's premeeting quiet period starts midnight on friday. china's quarterly production of semiconductors trunk for the first time since early 2019. covid lockdowns in shanghai and other regions disrupted manufacturing. there's also been a drop in demand for consumer electronics. companies owned by far right radio host alex jones filed for bankruptcy after being hit by a flurry of lawsuits. one of them is his website info wars. jones called the sandy hook shooting a hoax. several attempts to free the ship using tugboats failed. global news 24 hours a day on air and on bloomberg quicktake powered by more than 2700 journalists and analysts in over 120 countries. this is bloomberg. ♪ >> i think we can achieve a soft landing. i think this is a unique set of circumstances. it's not going to be easy. i'm not going to pretend everything goes exactly according to plan. but i think we are in a good place with monetary policy. jonathan: that was john williams in new york, fed president. futures ar

that made it possible for international governments to seize half -- jerome powell may reinforce betse fed will raise interest rates by half a point next month. the fed's pre-meeting begins at midnight friday. china and its allies have resumed flights. the airline is working to put its entire fleet of boeing 737's back in the air. the cause of the disaster has not yet been determined. powered by more than -- i'm ritika gupta this is bloomberg. ♪ >> it's vital we do not fall >> we do not really know how aggressive this will be, but if the fed delays all that means is that inflation will get more entrenched and they will have to do more later. tom: william dudley, senior advisor writing for bloomberg opinion. i still have not had time to get it on twitter, but i well. he harkens -- i will. he has been dead on for 12 months. you really wonder what kind of inflation and duration we will see. part of that is the global economy and the shock and estimates of china gdp has pulled over the markets. >> china's yield premium to treasuries has completely disappeared. treasuries offer more yield

janette yen, fed chair jerome powell, and european central bank chair christine lagar. it is impossible to put pressure on china. biden plans to enter beijing through other asian leaders at the upcoming osian summit. o the fact that this whole strategy is not working has already begun to be written by experts loyal to the democrats in the opinion section of the cnn website, a column by the director of the center for sustainability at columbia university, jeffreys strategist. the united states, which aims to help ukraine overcome the russian invasion by imposing tough sanctions and supplying the ukrainian armed forces with the latest weapons, is likely to fail. what is needed is a peace agreement that can still be reached, however, the united states. we'll have to compromise on nato so far washington has rejected. however, biden ’s administration drove themselves so deep into a trap that they couldn’t get out without loss. and without adjusting future plans, too, can not do. this may surprise you in asia, but biden, after 15 months of presidency, found out that he was go

she was the first of four central-bank nominees including chair jerome powell. president biden is the fifth nominee. awaiting a hearing by the banking committee. , harris has tested positive for covid-19, making her the highest ranking but it administration official to report being infected. a spokesperson for the vice president says harris has had rapid and pcr tests. she has not showing any symptoms but will isolate and work from home. she also said she has not been in close contact with president biden. global news, 24 hours a day on air and on quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i am vonnie quinn. this is bloomberg. haslinda: still to come on bloomberg markets: asia, we will get the outlook for weakness in the yuan and the end spilling over. next, the former boj board member tells us why she does not expect any change in policy. stoking concern. this is bloomberg. ♪ >> as we get closer to that boj many, a bit of a boost here this morning on the back of those inflation numbers. let's talk about japan now.

lisa: you heard jerome powell talking about frontloading those rate hikes.ll do it aggressively and that's a different roach from what you hear from the ecb which is leading toward a gradual increase. we talked about japanese yen weakness and today we will talk about euro weakness. what's interesting is the impact on this pair from the french election. the base case is that there will be eight emmanuel macron win after a 14 point lead in a euro friendly outcome is expected. the other side of that is the marine le pen victory which had -- which would have bigger implications for the euro-dollar which would be a bigger gap. the market is short euro into this election. tom: we will talk about that this morning. thank you so much. in paris, francine lacqua, you and i interviewed oxford university. he speaks about a fractured france between prosperous paris and everyone else. how fractured is france? francine: bonjour from perry. -- bonjour from paris. it's shifted to angry votes so it could be extreme right or left but this is a fractured friends where much like

up tomorrow we will look at eurozone cpi and consumer confidence and then on monetary policy, a jerome powelld christine lagarde of the ecb will speak at an imf panel. coming up, and interview with brian moynihan, bank of america chairman and ceo. he will join david westin. for myself in new york and anna in london, thank you for joining us. this is bloomberg. ♪ >> from the world of politics -- >> they're looking at a you sanctions to cripple russia's capacity to continue to rearm itself. to the world of business -- >> we cannot have a recession around good health and it is incumbent around company like johnson & johnson to continue to innovate above current standards of care and making sure they're assessable and affordable. >> this is balance of power with david westin. david: from bloomberg world headquarters in new york to out television and radio audiences, welcome to balance of power for a special edition of our program today. we welcome the chairman and chief executive officer of bank of america, mr. brian moynihan. thank you for being with us. you had your earnings monday, the stock i

dani: jerome powell on the prospect of 50 basis point hikes. hoisington describes the u.s.onetary policy as a disaster in their latest note. abinbev $1.1 billion impairment charge, they are in talks with a turkish business to buy this interest. the earnings season rolls on, let's get back to the fed conversation. joining us is william hobbs, chief investment officer at barclays, i think one of the ways the debate is well encapsulated is what is happening with nomura. you have managers saying -- and nomura saying 75 basis points and 75 again, obviously the two can't be right. william: there is a lot more of a debate. the levels you are getting under the bond market right now suggest an interesting one year return if yields stay as they are. you are seeing the term premium reemerge. you are getting to a state where there can't be too many more rate hikes priced in on a 12 month view. you are seeing an adjustment from the bond market looking at that normal neutral rate further out. will the fed accept a higher rate of inflation. certainly it is getting to be an interesting deb

transitory, it just didn't work out that way, it hasn't worked out that way so i understand how jerome powellople, if that even makes sense but you shut down the economy, people don't go to work, demand is pushed forward, demand shut down, he didn't have demand going on for like six months in 2020, early 2021 and you turn everything on again and you are surprised prices go through the roof when we are not making stuff anymore? come on. kennedy: yes and that was the natural conclusion what happened when people were paid to stay home and that was understandable but as you pointed out, the market and stock market recovered from that. they took off and people went back to work. now we are free of our masks but living in fear of world war iii and global recession. can't wait. thank you for your insight and purple jacket. >> i'm excited. kennedy: you should be. topical storm is next. stay with me. ♪♪ a new report claims babies born during the covid pandemic are talking less. luckily you can still hear what babies are saying on the twitter handle, lives of tik tok. that's our modern day mad lives an

jerome powell may reinforce bets that the fed will raise interest rates by half a point next month. will -- fed chair will take part in panel. the quiet period starts midnight friday. shanghai has reported first death in the midst of china's biggest covid flareup. tens of millions of people have been barred from leaving their homes as part of lockdown. there is criticism that china is inflicting too heavy a social and economic toll. china eastern allies has resumed flights. it's a sign the airline is working towards putting its entire fleet of boeing 700 back in the air. china grounded more than 200 of the jets. there is a new twist in the battle between billionaire carl icahn and southwest gas. southwest will now explore a sale of the company and other options. last month they called his offer inadequate. global news 24 hours a day on air and on bloomberg quicktake powered by more than 2700 journalists and analysts in over 120 countries. this is bloomberg. ♪ jonathan: ramping up earnings on wall street with bank of america and we have the estimate 74. get some weakness. 1.4 $6 bill

federal reserve chair jerome powell is likely to slow the pace of rate hikes after frontloading the nextouple of months. that's according to economist. they expect the fed to raise rates half a percentage point next week and in june in the economist say the central bank will do a series of quarter-point increases. russian forces have pounded targets from one end of ukraine to the otherk which includesyiv as the head of the united nations was visiting. chevron posted the highest quarterly earnings in almost a decade. there is demand for energy and russia's strain supplies was led to higher prices from everything from natural gas to diesel. exxon pose a very that missed estimates and took a 3.4 william dollar charge related to its russian operations. exxon will boost his share buybacks or graham to as much is $30 billion throughout the year. global news, 24 hours a day, powered by more than 2700 journalists and analysts in 120 countries. this is bloomberg. ♪ jonathan: live from new york city on tv and radio, this is bloomberg surveillance. futures are softer on the s&p 500. we have a euro

jerome powell has made similar points. at all points towards, the fed is now very determined not just to catch up with the curve but to get ahead of the curve. they are deadly serious about the pace of interest rate hikes. they are going to move hard on the balance sheet. it's as hawkish as you can imagine. we will see some of that spill over to the rest of the emerging economy world as the weeks go by. dani: the question is, have you been to complacent? thank you so much. into the markets where china has reopened after a holiday. tech shares falling this morning. all that reflects what's been going on in u.s. markets, digesting the latest from brain already. let's get the latest on the market from juliette saly in singapore. asian markets, hong kong, china back open. a lot of spill over what's happening in the u.s.. juliette: absolutely. the week read that you saw in china. the concern about the ongoing lockdowns and shanghai as we see rising covid cases there. all that contributing to weakness when we see the markets reo

the investors tuning in on comments by the comments on jerome powell at the central bank will be moviepassgh inflation with bigger rate hikes at its next meeting in may. european indices and stocks being slightly in the red there. gains about 1.3 and 1% in paris and frankfurt respectively. >> the food giant nestle said they pushed global prices up by more than 5% in the first three months of this year. even more in some parts of the world. eight and a half and 7% respectively in north and latin america. the food giant said it was raising prices in a responsible manner and that consumer demand was not impacted. sales actually grew around 8%. other consumer giants like brian campbell and heineken have also raise their prices by around -- a concrete sign of the inflation that is dogging economies around the world. france has a long tradition of winemaking and drinking. cannot tradition adapt to some new packaging? cans of wine are already popular in some parts of the world, producers are now hoping to crack open a new market. >> how about a nice can of cold rose? it is a hot topic for some in

ritika: the federal reserve chair jerome powell has outlined his most aggressive approach to taming inflation. he has endorsed two or more half percentage point rate increases. at the same time, he has described the labor market is overheated. he is taking aim at demand that the central bank wants to calm. kevin mccarthy spent four days after the capitol riot that he urged president trump to resign. the recording was reported by "the new york times." before the audio was broadcast, mccarthy tweeted that it was totally false. olaf scholz pledged to continue shipping weapons to ukraine but he says it could lead to nuclear war and must be avoided at all costs. in an interview, he reinforced his rejection of an eu embargo of russian gas. elon musk, the world's richest person has lined up more than $25 billion of debt financing from morgan stanley and other financial institutions. he is pledging to country butte $21 billion toward equity financing. twitter says the board will review the proposal. in the first quarter to attract and attend customers. for the first three months of the year, it's sor

point that you said in the open, the administration has completely kicked this on to the back of jerome powell. he's in the hot seat next week. >> you're a young person yourself. i like the perspective of young people here. young people, even through covid, were getting back in to the market and they had confidence. it was working for them. i wonder, is there a sense, you don't want to make a big deal out of a day, a month a week that people are inclined to say i did dabble but i'm done dabbling and i'm out or is it an investment haven. the demand is now gone. >> you can't look at one day or a snapshot and make a rash decision. if you're a novice trader, you might get scared. if you're trading with hard-earned savings, it's time to pull back. we're seeing that in the market. people are looking at the longer term trends here. what is happening in washington. what is happening on wall street. corporate profits. if this china thing continues to be a problem, we'll see issues. apple is warning that of you already. maybe it is time to pull back. we joked yesterday, sell in may and go in may. some p

you had jerome powell last week endorsing perhaps more than one 50 basis point rate increases. and you have bond investors capitulating before those bullish calls we saw last week, with barclays dropping after about a week, giving up on its call for a bullish 10 year treasury call. you also had bank of america saying maybe it had gone too far. but then that went awry the next day. so we have had the worst start of the year for u.s. treasuries in history. certainly since the bloomberg index began in 1973. and you have had those two year treasury yields up about 20 basis points last week indicating that what is going on in the bond market, what is going on and -- in inflation expectation be a key driver going forward. shery: cross asset age editor andreea papuc with the market reaction. u.s. secretary of state antony blinken and defense secretary lloyd austin are set to be in kyiv for talks with ukraine's president. for more details, let's bring in white house correspondent jordan fabian. what can we expect out of these talks? jordan: most importantly it is a symbolic show of sup

federal reserve chair jerome powell says he's trying to prevent recession by raising interest rates graduallytion, what do you say to that? >> our intention is to bring inflation down to 2% while sustaining a strong labor market and that the economy is very strong. >> reporter: by raising interest rates slowly, the fed is hoping to cool off consumer spending without triggering a recession with layoffs and unemployment. but if you're worried, experts recommend boosting your emergency savings and watching your budget, trimming the fat to deal with these persistent high prices. >> and that was nbc's jo ling kent. our thanks to her. how one of our top news anchors was reunited with her husband as he was on the front lines of this fight. we are live from brussels on msnbc. you'd think the sax player would be getting ready for his solo... but no. he's currently checkin' his investments. you gotta have a plan outside the band, man. digital tools so impressive, you just can't stop. what would you like the power to do? ♪ i'm defeated ♪ you just can't stop. ♪ feel mistreated ♪ ♪ i'm so angry, i'm singi

the fed chairman jerome powell, ecb president christine lagarde, boe governor, and the ukrainian finance minister were among those who left or turned off their cameras when russian officials joined virtually. russia is on course for its first expert -- external default in more than a century. the bridge to the terms of two bonds after it paid them in rubles instead of dollars. goldman sachs and jp morgan are among the groups saying the failure happened earlier in april. russia could still avert default if it pays in dollars before the grace periods ends may 4. chinese authorities say they need more time to figure out what caused a chinese jet to plunge into a hillside last month killing all 132 passengers and crew. officials confirmed black box analyses are ongoing. the scanned details to criticism on social media in china and suggests investigators are being particularly cautious about the probe and public disclosures. 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 blo

he also reappointed jerome powell who was late on the game with inflation. and you know, listen, i covered the markets. i often cover the doing market and politics and i grew up in this 170s. the party in power during inflation never fares well in rate hikes. this could be a real problem in the democrats. >> bret: get your seat belts on. >> yes. >> bret: charlie, thank you. >> any time. celebrate. >> bret: latest on coronavirus outbreak on washington political leaders and democrats on that front. first some of the fox affiliates. fox 11 in los angeles where two people are dead after a shooting in los angeles' county willow brook neighborhood. the sheriff's department says five other people were wounded there. authorities say reports came in around 3:00 sunday afternoon of the incident near the martin luther king jr. community hospital. fox 12 in portland where snow is leading to power outages in classes being either delayed or canceled prompting many school districts to start late or cancel school. april 1st of 1935. and this is a live look at augusta, georg

last year jerome powell was printing money. all of these stocks will normalize. twitter might go back down to 30. that's what they thought about internally. here's interesting thing. what does he do with it? one of the best things is that it's private. he can do it on his timetable. he doesn't have to worry about shareholders. it's not like disney is buying it and dumping money in it. it's not like -- if you think about it, discovery bought warner media and then left with this basket cause of cnn +. they had no choice but to whack it out and cut costs. he's not going to have that problem here. he's going to do what he wants outside the public lair. if programmers don't like elon musk, he can leave and he will get other programmers. i'm telling you. the question is whether or not elon musk decides to expose the algorithms inside twitter and how things are done. charlie, you and i know and anyone that uses this platform, that there's an immense amount of information that is transferred on twitter globally. this pales in comparison to the users that facebook has but

and on what basis should jerome powell be nominated fed chair by the way?failure to respond quicker to obvious inflation concerns should mean he steps aside. the list of these staff failures is really long, take up a whole hour, but there has to be accountability. we don't want to hear anything more about the first woman this, the first that, we need the best and the brightest. whatever your skin color, whatever your background, not the first and the dimmest. the last time we saw such inflation lowers it took three democrat losses in a row to get the party's attention. they were annihilated in 1980, 1984, and lost big in 1988. so who knows how long it's going to take them to wake up this time. i have no idea. but in the meantime, americans will have to budget smartly, organize passionately, and choose their candidates wisely. and that's "the angle." joining me now, former chair of the council of economic advisors under trump and distinguished visiting fellow at the hoover institution, author of "the drift stop in america's slide to socialism." i mentioned i

and we also call on the senate to swiftly take up jerome powell and philip jefferson's nominations this week as well. these nominees are eminently qualified, ready to get to work, and deserve bipartisan support. they also will make history. lisa cook would become the first black woman to ever serve on the board of governors, and philip jefferson will be only the fourth black man to serve on the board of governors. finally, the va announced today new actions to expand disability and health bene- benefits to veterans suffering from nine rare respiratory cancers. supporting our veterans is a critical part of the president's unity agenda. and with this step, the president is continuing to deliver on the sacred obligation we have to our nation's veterans. the president urges congress to pass bipartisan legislation to comprehensively address toxic exposures and further delay the vital benefits our veterans have earned. andrea, welcome back. peter, welcome from book leave. now they're going to ask me especially hard questions. zeke, go ahead. reporter: thanks, jen. secretary austin, i believe,

basis point rate hike here in may and probably more as they try to get ahead of the curve and as jerome powellesser to tamp down inflation no matter what it takes. liz: david, good to see you. nice picks, david kudla with a winner on pxe. here we go red on the screen second day straight. please as markets close down but off the lows following federal reserve minutes join us tomorrow for special coverage of the cyber rodeo. the opening of the giga factory in austin, texas with tesla. "kudlow" is next. [closing bell rings] larry: hello, everyone, welcome to "kudlow." i'm larry kudlow. i want to begin with some quick sound from senator rick scott on last night's show. please take a listen. >> now the probably the biggest issue is the runaway inflation the biden administration caused, the border crisis, what will happen with getting rid of title 42, that's a big deal. not being energy independent. but i think, i think fraud and corruption is, infuriates people. it

the thing was as high as 77 last march, but that's bubble territory because of the jerome powell who. for all those reasons, they had to sell. that's the only thing i know. i don't know anything else. i just don't know the guy. nobody else does either. >> cheryl: he's very -- >> you know? >> cheryl: what's interesting twitter's numbers came out today. there's been a lot of discussions about the fact that twitter agreed and this all kind of happened quickly from sunday to monday. they met sunday. the deal was announced monday. they knew these earnings were going to be bad this morning. then they come out, disinformation by the way, if you want to call it that, they say we've overstated our monetizeable dily active users since 2019. thank you. >> that's the reason why they had to sell. he said he wants to buy coca-cola so he can put cocaine back in it. >> cheryl: yeah, elon musk -- thank you, charlie. good to see you, sir. it may be a seller's market, but today's countdown close ser a -- closer is a buyer when it comes to real estate. we are now up on the dow. we'll be back. liberty. ♪

also tonight, federal reserve chairman jerome powell is signaling the board is likely to raise interest rates by a half percent tant poij at its meeting next month. et says similar rises could be necessary after that. stocks were down following powell's comments today. the dow lost 368. the s&p 500 fell 66. the nasdaq was off 278 today. up next, actor johnny depp faces tough cross-examination during his defamation trial against former wife amber leard. first, here what is some of our fox affiliates are covering tonight. fox 5 in new york as police arrest a 44-year-old handyman for the gruesome murder of a queens woman. david bonola is accused of stabbing 51-year-old orsola gaal dozens of times. stuffing her body into duffle bag and dumping it investigators say bonola admitted to the killing after police questioned him about a potential romantic relationship with the victim. fox 35 in orlando as the florida legislature gives final approval to a congressional map pushed by republican governor ron desantis. black lawmakers chanted in protest during that session. they say the measure will d

the fed is not going to listen to the market any time soon i think the fed -- and i think this jerome powello i believe is much more of a hawk in his roots than people understand, is really understanding how far offsides they are here. i think the pricing pressures we will see in commodities and labor markets are nine months out. as we heard, the european data where ukraine is not even priced into the energy prices quickly, fire and ice mike talks about, he says i think, if anything, we had a case where even some of those ice stocks in health care have had a very big run. i think you do have to stay in many of them i still stay in united health care, tenet health care, abbvie. but looking at the market, the rally we had is not going to lead to another big april, which is people know is the biggest up month of the year. >> the question you asked guy about, do you think we will see conservatives down, i think last week we saw rh and hulu, very two different big stories, but i think i'm with guy i think we're going to start to see more pest mystic and self-fulfilling. once you see a couple comp

market will likely take a dip again today, just like it did yesterday, after the head of the fed, jerome powelld more interest rate hikes are on the way. the dow fell more than 300 points on thursday with red arrows for this morning as well. powell was speaking at the international monetary fund hosted by our own cnbc reporter, sara eisen. you may not have watched this start to finish, but wall street investors sure did, and they keyed in on one thing in particular. powell said it is appropriate in my view to be moving a little more quickly, and said i think there's something to the idea of front-end loading. more quickly means may, next month. that's when we're going to get a rate hike. front-end loading means a bigger hike than last time, at least that's what we think he's saying. the fed doesn't set interest rates, but when it hikes rates, mortgage rates tend to go up, too. and clearly the era of low rates is over. 30 years at 5.1, the highest it's been since 2011, that makes homes more expensive to buy, as your monthly payment goes up. >>> have you seen this? a youtuber claimed he had to ju

last year jerome powell was just fueling the market with money. that's cheap money, that was a fake number. liz: and charlie so the stock was halted. charlie: let me finish. what they had to do is justify saying no to the premium you offered and the fact that there was negotiating going to be another bidder, and they were smart because they were going to be like crazy. liz: okay so right now, twitter is still halted so we're going to keep the bug up. we've put the bug on the lower right hand side, so it is halted at 51.63, interesting to see where it will go. let us look at tesla, if you can interestingly, tesla, the company that really, many tesla shareholders would really feel needs his 100% attention is falling 2% right now. let's see it opened at 979 so it's above that at the moment, but today, hold on hold on, today it had been as high as $ 1,008. charlie: but that doesn't tell the full story. tesla had a really good quarter. stock went up. this was a perfect time for him to do this. here is something else that people forget. tesla's clearly