kailey leinz in miami.on the recovery of the travel sector in the state of airplane financing with the ceo of abi aviation. this is bloomberg. ♪ >> i believe back to pre-pandemic levels by the end of the year. >> it is sustainable and is going to continue. we have seen a structurally higher level of leisure demand. >> we do need some stability. we are the recipients of all of the signals and inputs from the macro. inflation rates, interest rates. >> supply chain engines would be one of them, issues holding us back. >> the supply chain is difficult. to get what you need, to get the airplanes ready. jon: that was a host of global airline executives speaking at last week's meeting in istanbul, that gets us to today's for what it's worth. the number, $8 billion. we saw the ceo of united offering pilots a contract with a value that could exceed that amount over four years. if it does, it would be the richest deal we have seen from one of the main u.s. carriers, speaking to the leverage pilots have had in recent

kailey leinz will be headed back to capitol hill to harass lawmakers. bloomberg is launching a new podcast called "spell caster." it looks into san bankman-fried's incredible rise and fall in terms of celebrity, wealth, in terms of the alleged fraud. hannah miller is the spell caster host and reported on the collapse for us. thank you for joining us on set. fantastic podcast. i started it yesterday. i have access to four episodes. i think i am special. tell us what you discovered in your reporting. hannah: this was such an exciting project to work on. i learned a lot. it has been incredible to dive into the origins of ftx and sam bankman-fried. he is a very interesting individual. we traced his childhood growing up on the campus of stanford to his activity with all truism. we really saw how that played into the founding of ftx. can see these themes -- what happened with ftx -- are still relevant today. there are parallels in the accusations. still a developing story. amber: he has been called, at worst, a con man and at best, incompetent. as you are get

jon: let's bring in bloomberg's kailey leinz with more context from washington. kailey: this, in some ways, is a regurgitation of the commentary chair powell already shared in the house financial services committee yesterday. the idea that, yes, the fed could hike rates two more times as it continues to get inflation down to 2%. he has received questions and push back on the idea that that could cause pain in the u.s. economy. he said inflation really hurts everyone, and that everyone will be benefited by inflation getting back down to their target. one asked if he saw for a path for inflation slowing without doing harm to middle-class families, he said that he does, so this idea perhaps still of a soft landing. i spoke with senator j.d. vance from ohio outside the hearing room. he said "the fed should not be fighting the inflation battle so hard that it ends up destroying the american economy." he things they are on the edge of going a little too far. german powell said the -- chairman powell said they are trying to avoid the mistake of going too far on rate hik

matt: kailey leinz was at the hearing and joins us from washington dc. jay powell is insistent the fed will continue to raise rates. kailey: he said to more rate hikes would be a good guess for the rest of the outlook for 2023. he stood firmly by the 2% target and the fed is committed to getting back down to that level when he fielded question about their ability to do so or whether that target was what they should stand by. as the chairman talks about the need to continue hiking rates, he received praise from the ranking member maxine waters for pausing rate hikes. this was not just about monetary policy, he fielded a lot of questions around the fed supervisory role when it comes to banks, perhaps even more time was spent on that issue. the chairman did say greater supervision of regional banks is required, but wants to make sure smaller banks are not overly burdened. cap pointing back to the vice chair, michael barr, who will release a full review. they have not been shown to the board at this time. he did say that bank capital is strong. he got a lot

alix: kailey leinz joining us. we will talk more with libby cantrell of pimco.dy would ask her something and she would just walk right past them, (laughs). she didn't know they were talking to her. i just could not hear. i was hesitant to get the hearing aids because of my short hair. but nobody even sees them. our nearly invisible hearing aids are just one reason we've been the brand leader for over 75 years. when i finally could hear for the first time, i could hear everything. unlock our best deal of the year during our 75th anniversary sale. call 1-800-miracle today. >> you are looking at a live shot of the principal will. --room. coming up, megan horn, and --h orneman joins us. this is bloomberg. in italy, a leader -- italian leader has died. he ended up being italy's longest-serving postwar prime minister. he served more than nine years in august. still, he was one of the most influential figures in italian politics. he was 86. in ukraine, the government said its troops has liberated at least two villages in the eastern part of the country and it is part o

kailey leinz is outside the courthouse. when are we anticipating an arrival? kailey: 3:00 p.m. eastern is when he is due to report. we may not actually see him arrive. it is expected he will enter the courthouse via the underground garage. but once inside he will be arrested and processed like anyone else indicted on federal criminal charges. it is potential he could have his fingerprint and mugshot taken. he may need to surrender his passport. he will then go to the 13th floor, appear before the judge, and is expected to plead not guilty. since this came down the president has maintained he is innocent and said this is a witch hunt. that is the kind of messaging he is likely to take with him from miami back up to new jersey this evening where he will speak at his golf club at 8:00 p.m. eastern, and holding a donor event. his campaign expects he could raise $2 million tonight, hours after he will be the first former president in history to be arraigned on federal criminal charges. ed: local police, one of which walked past you, preparing for some demonstration. what is the scen

let's get over to kailey leinz who is covering this.ss conference in about one hour and 15 minutes on this from the department of justice. what do we know right now as we see these headlines crossing the bloomberg terminal about the unsealed indictment? kayley: as you said, we now know firmly what some of these charges against former president trump are. these are federal crimes he has been charged with, the first time in history a former president charge federally and that includes retention of national secured he document, conspiracy obstruction and false statement charges. we had learned there were seven total charges and trump's attorneys who are not on his legal team in regard to this case said he would be facing some obstruction based charges as well as espionage act related charges. when we talk about these federal crimes, these are crimes that could mean prison time for the former president depending on the charges and whether he is convicted means he could become ineligible to hold public office. some legal experts have indicat

kailey leinz is outside of the courthouse, set the scene for us.me and 40 other mediatech's out here. there is a heavy police presence. there are roosters here as well. i'm not sure if you can hear that. president trump will arrive at the courthouse. this is serious business even though the roosters are distracting. he will arrive in an underground garage. once inside he will be arrested and process. he will surrender his passport and then plead not guilty. the first time in history of president will be arraigned on federal charges. guy: is there a significance that the roosters are louder than the supporters of this point? kaylee: the miami police chief said they expected as many as 5000-50,000 but so far, i haven't seen that many. a few individuals of come by but we will see if it builds up as the hour draws closer to the arraignment. he has called on his supporters to be here but there has been some non-peaceful protest rhetoric that has circulated hence the very heavy security presence and they are prepared for whatever may take place today. so

kailey: 3 p.m. this afternoon. pay attention to how many protesters show up. miami police pricing for anywhere from 5000 to 50,000. president as ask is reporters -- supporters to show up today. jonathan: over there so many times with regard to the former president donald trump, in the last eight years he has desensitized you to what is playing out this afternoon at 3 p.m. eastern time. tom: i mentioned the math yesterday with the republicans being asked percent of the public. it is amazing as the problem unfolds. we see thousands of people with kailey leinz in miami today. what ocean of the american public is that? i know what the guesstimate is, but is it 5% or 10% or 15% dare i say 20%? jonathan: annmarie talked about the poll over the weekend. he has weathered out storm with the base. does that help you win and places like georgia? it is become really tight more recently. tom: and further litigation in georgia coming up as well. jonathan: precisely. equity futures positive about one hour away from inflation data

we will take that lie for you let's go to capitol hill with kailey leinz covering this event.et's talk about what the committee will want to question jay powell about today. we will be focused on what he will say about the reaction function and where monetary policy goes from here but i look at the statements that include a few elements when it comes to the banking crisis. is that it guide to where jay powell thinks the questioning will come from? kailey: he is going to be as likely about it especially as in his opening statement, it refers to the idea that policymakers may need to hike rates further. he will get questions about why that is necessary and what economic pain needs to because as a result. on the banking issue, he cannot avoid that is the last time he appeared giving testimony like this was days before silicon valley bank's collapsed in march and he will likely get questions around supervision and the idea around capital requirements and what stricter regulation could come from the federal reserve. it's just the health of the banking system overall and whether the

kailey: from our studios in washington dc, i'm kailey leinz.crypto, the people, places, and other shaping the world. there are strong words for binance and coinbase as a suit is brought against both. we get reaction on what this might mean for the industry and regulation when we talk to the ceos of

ed: kailey leinz visiting us from new york. we will talk with chris, a big-name out in d.c.lso, in a relationship with coinbase that we will get into. shares from alpha back, the google parent company, reporting that google will consider attendance reviews and send reminders to employees that have frequent axis -- absences. ♪ you got this. let's go. gobble gobble. i've seen bigger legs on a turkey! rude. who are you? i'm an investor in a fund that helps advance innovative sports tech like this smart fitness mirror. i'm also mr. leg day...1989! anyone can become an agent of innovation with invesco qqq, a fund that gives you access to nasdaq-100 innovations. i go through a lot of pants. before investing carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com. >> there's plenty of innovation we could point to and say there's enormous opportunity to have another industrial revolution that would just be more of a digital revolution. that could produce a lot of productivity, but we need something in the economy. caroli

kailey: welcome to "bloomberg crypto."ock froze its large dextrose it's large hat into the ring. if launched, the first of its kind in the u.s. matt: we hear from brett harrison who will talk about his new firm architect, as well as involvement with his former firm and the recent

kailey leinz on assignment. above $30,000 and we will talk it with that in this program. sonali: fidelity is rating a spot etf of its own. net: operators curve operations in texas. the heatwave drives electricity prices sky high and threatens to cripple the grid. sonali: alex noren will tell us

i'm sure it surprised kailey.pens to you, you think it will never happen to you and then you get back into the real world and you realize, he'll do it to anybody who is not his child or wife, current way of. >> and it's kind of amazing that anybody works for donald trump anymore, given this track record. just just talk about poll numbers he doesn't like. >> and that anybody would be surprised. i don't know what kind of denial you have to be in to believe that that is the case. he won't at some point dispose of you. i guess maybe people think, i won't turn on him and i won't do anything to turn on him and then he won't dispose of me or attack me or try to destroy me. this is what you get if you align with donald trump. >> and i guess -- >> to add to that -- go ahead. this could be a whole show. i mean, you do get into that mindset. you get sucked into this world and this mindset. you think you will never leave his side and it is you guys against the recalled would. i cannot explain it until you've lived it. i guara

kailey leinz, bloomberg news.cal science and a regular bloomberg news contributor. always great to have you with us. we were chatting in the break, what a day, what a historic weekend it has been in this week so far, week so far, particularly the events of today. what was noteworthy to you, given the historic aspect of this and how this plays out from here? >> we are looking at former president trump facing his second set of criminal charges while he's making his third run for the white house. quite a defiant run it is period i have to say, something that struck me today is something that kaylee said in her piece. which is after he went and was arrested and pleaded not guilty, he went to a very popular cuban restaurant in miami and the choice of a cuban restaurant was not just made on a whim. he went there specifically because he wants to underscore that like many cubans and cuban-americans, he too is being persecuted. this is what i think is going to be the theme we hear in his speech tonight and throughout the r

with tips, kailey is making around $17 an hour, saving for college and discovering a new passion forfood and beverage, education and retail with a massive shortage of life guard driving up pay for teens even more it's making it clear these younger workers are critical to the economy and here to stay now, while this is a national trend, we have seen more pronounced increases of teen hiring, specifically, guys in certain markets. across the country, virginia beach is number one. 44% of all hires are teenagers 15 to 19 years old according to this information from gusto, followed by cleveland, charlotte, pittsburgh, philadelphia and then minneapolis. as far as the unemployment rate for teens, it is hovering between 9% and 10% that is the lowest it's been since the 1950s. craig, savannah, hoda, i don't know what your first jobs were i think back i was teaching tennis and squash back in the day, trying to get to $16 or $17 an hour. kids these days have a pretty good market to walk into. >> sam brock, tennis teacher, i can see that sam, thank you >> sam wants to go back in the day. our firs

tom: thanks to kailey leinz of these -- with these -- the coverage on the historic events.t do i look at given all of this and i want to know what actual lawyers think, whatever the politics is, i don't care. that is not our job but i want to know what lawyers think and i go to law fair, people have mortars and i have a beautiful essay here. on all the crosscurrents going on in the last 24 hours, and they look down to discrete crimes against two individuals, that is all the allegations and what we will see play out over months. they states in a single sentence, this is a big deal. it is a big deal for the nation. how is this being taken in london and i am fascinating. the people care about these historic moments in miami or is it off the radar? >> it is an friday was a's intentional day because there was a mirror -- mirror image findings but everyone is looking at the u.s. with a slight feeling of dread as to what might, next. it has been a historic moment for transatlantic cooperation with the u.s. leading on that and there was some foreign policy national security issue a