that is jonathan gray, president and coo of blackstone, close to becoming a $1 trillion asset managernathan: brilliant, thank you. going through some of those comments. 8.5% inflation come is that an environment you want to be sitting intact with at the moment? lisa: the answer is no -- that is the calculus many people are making, vertically and the private credits based. jonathan: coming up later this morning we will catch up with scott kirby, united airline ceo. this comment just came from american airlines. they see business revenue 90% recovered in the second quarter. what a change that is. tom: scott perp he is an operational group. he was in the trenches. we will talk to him after you. looking forward to it. if meet emmanuel macron -- d of me -- give me emmanuel macron again. this is granular politics. emmanuel macron is in it again. i do not know where it is. the physical nature of the french campaigning is absolutely stunning. jonathan: can you give me an idea of the picture you are looking at? tom: the people are like six inches away from him. jonathan: are you suggesting the

it is run by steven schwartz who i happened to see last weekend who is so darn smart and jonathan gray who i've known for, i don't know, 30 years. you've got fabulous people at the top of this and you have a good yield and great assets. i say blackstone is terrific guys, i think it's a good time to pay some attention to the under appreciated financials with garp appeal these are never, ever talked about. i like to make money boring is good signature bank is my fav state street, bank of new york mellon and schwab. much more "mad money" including my conversation with twilio. tech's next battleground customer engagement. i'm learning how the cloud company is bringing the -- bridging the divide with the ceo and believe me, that is not an easy bridge. is it a possibility too much apple? i'm going to tell you what to do with the stock and all your calls, rapid fire in tonight's edition of the lightning round so stay with cramer. [music: “you can get it if you really want” by jimmy cliff] your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed y

like life sciences, cloud computing, software, and the last mile lodge firstics, rrth than give jonathan grayackstone than a big money center bank. >> let me get a comment from josh before i move on from this new buy. carlisle, josh, is the one you prefer over this name. why so >> i actually like them both, and i think carlisle's a much smaller version than blackstone, but both will work for the same reason and there is a record amount of money being put to work in alternatives in the wealth management space, pension space, family office that is not going to change. that is just the new reality given what's going on with the bond market. the worse start in decades for the fixed income portion of people's portfolio, and given still high valuations for a lot of stocks and you're going to see continued money go to blackstone, carlyle group and those companies will have the wherewithal to earn a lot of money with the flows i think joe will make money. i think i will make money and i would stay there >> okay. now to the new buy, joe, and it is walmart yet another stock at a new high, and i bring t

now it has turned negative, president jonathan gray expect higher inflation and higher interest ratesppen in europe. when will that happen? ashley: oh one simon says the cannabis business is $100 billion alone and is still just in the infancy and expect europe to legalize marijuana within the next year and many cannabis companies are already gearing up for that market. simon says the true barrier to expanding in the united states is the banking laws, four separate reform laws being debated under the safe banking act umbrella, that would allow proceeds of cannabis sales into the federal banking system. as it stands there appears to be no clear pathway to banking reform with lawmakers wavering on whether to take this next biggest step. stuart: the pot companies have not done well at all. on the marijuana business, new jersey will start recreational pot sales today. lydia, how much money is the state expecting to make out of this? >> the state of new jersey expects to make $4 million in revenue in the next two months based on recreational alone. a lot of interest this morning li up aroun

jonathan: bramo's world. a dark, gray cloud, thunderstorms. lisa: so dramatic. an: with sound effects and everything. futures down .2. yields unchanged on the two-year. you always have to take it too far. at xfinity, we live and work in the same neighborhood as you. we're always working to keep you connected to what you love. and now, we're working to bring you the next generation of wifi. it's ultra-fast. faster than a gig. supersonic wifi. only from xfinity. it can power hundreds of devices with three times the bandwidth. so your growing wifi needs will be met. supersonic wifi only from us... xfinity. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ >> in the near term, the fed will do what they can to get their credibility back. >> the type of inflation they are trying to control is androgynous. >> food and gas prices are out of control of the fed. >> it is behind the curve in a way it is never been before. >> while the market is not indicating recession, we expect a three year end. announcer: this is "bloomberg surveillance" with tom keene, jonathan ferro and lisa abramowicz. tom: good morni

tom: he had a gray suit on, double-breasted. jonathan: like 50 sizes too big.ley: and a pink beanie. jonathan: that's right. tom: did i get what? jonathan: do you understand the trend? -- in head office, no inside information on this. they are having a laugh, laughing their heads off as people go around wearing the stuff. jonathan: live on tv and radio, this is bloomberg surveillance. price action shaping up. the s&p up 0.2%, the nasdaq of 0.33%. for the month of february, looking back. later this week, the minutes to watch according to chairman powell. he told us if you want ideas, clarity, detail on balance sheet reduction, look to the minutes on wednesday. tom: help me why the matter. jonathan: apparently, we get detail on balance sheet duction. that is what chairman powell said. the ecb has accounts that the last meeting. whatever that means. that would give you the ecb account. tom: they need the bramo- account. jonathan: i would love it. a really interesting research note. you say, the recession math does not work. there is not a recession out there. you

gray have finished. our political correspondent jonathan blakejoins us now.statements about whether he broke the law _ statements about whether he broke the law during the covid pandemic at parties _ the law during the covid pandemic at parties and _ the law during the covid pandemic at parties and other events in whitehall over the last couple of years _ whitehall over the last couple of years. that would have forced conservative mps to defend the prime minister— conservative mps to defend the prime minister and block the prospect of any further scrutiny in parliament. that would — any further scrutiny in parliament. that would be very difficult for some — that would be very difficult for some of— that would be very difficult for some of them to do. they weren't really— some of them to do. they weren't really comfortable with having to do it because _ really comfortable with having to do it because it would allow labour and other— it because it would allow labour and other opposition parties to say that here they— other opposition parties to say that here th

gray is yet to be made public. ione wells, bbc news. let's get the latest from our political correspondent jonathan blake.this afternoon? there will probably be a few hours to bait and then there will be an amendment on the motion, effectively holding out the prospect of an investigation at some point in the future by the privileges committee in parliament. but says if and when that happens, it should only be after the police investigation concludes and the senior civil servant sue gray has published the findings of a report in full. and that really neutralises to an extent, what was going to be quite a politically difficult day for boris johnson and a lot of his backbenchers who borisjohnson would not, because he is in india, a lot of his backbenchers would have had to vote against an investigation by the parliamentary privileges committee into whether he misled mps are not and some of them frankly, were not ready to do that. they are holding out for this process to run before they come to a judgment. jonathan, thank you. we can speak now to catherine haddon, from the institute for government. they're an