kathleen: ok. jon: you are with the department of defense, we will call that dod, the pentagon. obviously department of defense has a complicated relationship with journalism and reporting. thomas's mission and the mission of people at warhorse is to make the department of defense more transparent. more accountable. more accessible for the general public. i guess the first question would be, why are you here? kathleen: [laughter] sure, absolutely. first i am thrilled to be here, i also want to thank thomas and certainly you, for signing up so early on. to help the effort. jon: to be fair i am not busy and lonely. kathleen: nevertheless. jon: when he asked, i happen to be free that month. [laughter] kathleen: here is the reason. i do not think we have a complicated relationship with the press. jon: i am going to stop you there. kathleen: you united states military is about defending the constitution and the free press as part of the constitution. if you go into the pentagon and walk the halls you fi

kathleen: i knew that. john: i have to say, i think some of my discontent is forged by my experience in that arena. it's really based on the difficulty that i saw so many good people. and kellyanne covered this in many years and i saw so many internal documents that spoke to not political appointees and other things, but a corruption within an institution that was hiding. i think it comes from a place from -- 9/11 was the original burn pit, ground zero. i saw what that did to the people who lived in that area and the men and women who fought there and they were really the first veterans in this war. and it took 10 years to get our government to recognize that breathing on top of a fiery jet fueled burning pit might not be good for you and the epa said the air was clean there three days into it. and when i saw the same thing happening -- to be honest, when i visited iraq and afghanistan and flew into one of those places, i thought it had just been attacked and it was just a burn pit. i thought it was the ene

rishaad: a tough life for you, kathleen. kathleen hays outside the bank of japan. let's have a look at the first word news. u.s. banks are increasing emergency borrowing from the federal reserve for the second week in a row. it underscores the stress to the financial system, just under 155 billion dollars of loans were outstanding. that compares to $144 billion in the previous week. we have a surge in volatility as far as banking goes. that could play into next week's fed decision. are looking at diplomacy at the top of the agenda as an australian delegation visits china for the first time since the pandemic. dozens of companies are involved and australia's trade minister is due to visit soon. it is the strongest sign that the two countries' relationship is improving. the biden administration sanctioning russian and iranian intelligence services and their roles in detaining americans. wnba star brittney griner was brought home from russia last year after facing drug smuggling charges. wall street journal reporter evan gershkovich remains in custody. there was an ex

kathleen: you talk about red flags.hat i thought was interesting that you cite a survey, that for a lot of the major fraud cases, red flags are overlooked. it's important, you use the word got instinct, but the importance of following your gut instinct and you are making rational decisions, and you talked about, you have red flag triggers. i agree with number one, if you don't like dogs, that ticks me off as well. and when you talk about red flags and why people miss them and how people should really think about what their triggers are, talk more about how that would be helpful and whether that would lead perhaps to greater awareness and perhaps even speaking up. kelly: i do provide a list of red flags for myself. and silly as some of them may be, they are things that serve to caution you. and if you don't like dogs it sort of, i don't know. if you can't say thank you are please i don't know. i'm not sure i want to do business with you. there are these cautions or roadblocks that should slow you down before you jump in

kathleen hays talking to us and our guest. come, -- plenty more to come, and this is bloomberg. ♪ yvonne: we have some lines crossing here from the bank of thailand governor speaking at a briefing this morning talking more about tourism, private consumption to offset falling exports we have seen. mpl's may rise going forward but will not spike to a cliff, and headline inflation expected at 3.4% in the first half. they are expecting a strong tourism rebound with 66,000 daily tourist arrivals and when it comes to the first quarter growth, they think the thai economy should reach pre-covered levels by this quarter. some optimism leading up to the election. rishaad: we are looking after the break at reliance reaping the rewards of discounted fuel from russia, reporting better-than-expected earnings from the first quarter. we break down those numbers next. ♪ rishaad: 15 minutes before we get the start of the trading, the cash session in mumbai. we have a bit of the nifty, which is buoyed up better-than-expected. we have a mixed bag

kathleen: fourth quarter?ig's -- a big mistake and unfortunately the boj will not change. shery: some of our guests on what to expect from the boj first policy decision under the new governor and the expectation is for no fireworks, at least at this meeting. take a look at the chart because about 90% of economists do not expect any change to the rates settings or asset purchases being carried out but some 11% forecast policy tweet and 2% predict a tightening step so you can see if you add up all of the percentages, most people do not expect much to happen today. perhaps the june meeting is most likely timing but the next step would be the adjustment on guidance on future policy that could be the most likely first policy step, according to vote -- more than 60% of surveyed economists but some people say we still have to watch where ycc goes given we have seen so many surprises in the 10 years but at the same time because you have global bond yields falling that perhaps if you do tweak the yield curve control se

kathleen.n: we suddenly had a wide range of opinions expressed about this first meeting, what it may entail. we are getting right to our first guest of the day, takahide kiuchi is the executive economist at nomura research, but importantly, he was on the board of the bank of japan, helping to set policy from 2012 to 2017. it's great to have you back. you have long been a critic of what you think is excessively easy monetary policy for two long of a time. what is wrong with the policy, what needs to be changed? takahide: there are side effects, such as undermining the market function and undermining the profit of financial institutions. so i hope that mr. ueda will normalize monetary policy soon. it is likely he will take time to change and review the monetary policy because it may undermine the stability of the financial markets. also, he may receive political pressure not to change monetary policy so soon. kathleen: let's start with today. so much focus is inflation. . on one side of the coin,

kathleen: a very special guest indeed.tabe, former deputy governor at the bank of japan. finishing his five year term in march. just about the time the governor was finishing his 10 years. he is a professor again in tokyo, but got time to talk about us about the boj. very exciting time. >> thank you for having me. kathleen: everyone is betting there will not be any kind of tweak, or tweak with yield curve control. in large part because the governor has been signaling at the parliament at other speeches it is not time. that he's not ready to change anything. is there any chance there is some kind of a tweet today -- tweak today? >> i would be surprised if the boj did, because there is an overwhelming reason for keeping it currently. governor ueda has said he has not seen the inflation rates reaching toward and staying in a stable manner. so there is no reason to change it right now. kathleen: short of ycc, is there something he can do to crete -- tweak the forward guidance? especially the recent statements from the bank of

kathleen: this is all but universal now. does that -- how big of a risk -- it seems that asian markets are in a better position than many in developed countries. krishna: when we look at inflation, we have to look after the fact that headline inflation is moderating in asia. coal inflation is sticky. there are forces that could make it sticky, one of those forces is an outward gap that are closing. and number two, exchange and pastor is still at play. what we found is when inflation is high, it is also much higher. we can see that code inflation could be sticky, that implies that central banks still have to guard against inflation. it is important for central inks to address inflation head on. you mentioned the case of the philippines. they are one country where they have raised interest rates aggressively. that is not the case for other countries in the region, where interest rates have been more modest. shery: take a look at the short and medium-term risk, what are you focusing on the most? demographic challenges, fragment

kathleen: ok. i think we can all take that away. maybe not in such dramatic circumstances for everybody. minister marchenko we know that , you have to leave. so thank you so much for joining us. [applause] it's been wonderful having you here with us today. so anna, let's look ahead, you know, this is three years of, you know, one kind of crisis after another, how, how imaginative the universe can get sometimes, right? what, what, what do we have coming ahead? and what do you think that this next set of challenges may look like the past isn't necessarily prologue, right? but what are you preparing for? what do you think we should all be ready to deal with? >> thank you. well, we don't know what the next crisis is going to be, but i do think we know it will come. i was on a panel yesterday related to climate change and taking action on climate change and one of the participants, a country that is very, very much affected by the impact of climate change. just said, you know, we wake up every morning and we know danger is imminent. so t

haidi: kathleen hays there.he strongest cyclone to hit western australia has made landfall, impacting operations in the key commodity producing region let's get the latest in melbourne, australia. we have been talking about the cost of reconstruction and recovery. what is the latest when it comes to it? >> overnight, finally it did cross the coast of western australia, the major townships in that area, so it also crossed over the head land and has made landfall and has been downgraded to a category three cyclone, so according to the bureau of meteorology, it is tracking as expected, on path at the moment. it may make it across the border to the northern territory in coming days, but as i said, it was a category five and has been downgraded to category three and is heading further inland with a lot of strong wind, and expecting dumpings that reigns in the coming days so even though the cyclone has been denigrated and has missed major townships, it is well south of major tourist destinations in australia, in the n

kathleen: fourth quarter? >> yes. kathleen: ok. well, we will see.etween then. taking a look at this -- it's a big conversation i think here in the markets, and certainly this policy review is something we could see friday that who waited talks about and we get ford and -- and we talk about forward guidance. haidi: kathleen hays there. tune int o bloomberg radio. get in-depth analysis from the daybreak team, broadcasting live from hong kong. you can listen in via the app, radio plus, or bloombergradio.com. this is bloomberg. ♪ shery: we are looking ahead to the start of trading in china with investors weighing a key meeting of the communist party's top decision-making body this week. bloomberg's sofia horta e costa joins us from hong kong. as we await the politburo meeting, what is on your radar? sofia: the politburo meeting, any kind of language change from december could be quite significant. we are looking at how policymakers are reading the economic recovery. especially the march data has been a lot data -- better than economists had expected, a

kathleen hays, bloomberg, tokyo.ad: and we can get over to tokyo itself and get over to kathleen hays. that landmark boj meeting beginning on thursday. what are you looking at? kathleen: look at the fact that there seems to have been a strong messaging from governor ueda. certainly his two testimonies this week in parliament where he is talking about inflation coming down over the course of the year from 3% plus to 2% and below. this is what we had heard from governor kuroda and the previous team at the boj, which contains many of the same members now. he also talked about tightening, if the boj took the move now, could have negative consequences on the economy. so we sat down with a former vice of financial affairs back towards the end of the great financial crisis and he thinks it has a lot to do with making sure inflation does not lose momentum. >> he mentioned that condition is a strong forecast of inflation, which is closing to 2% with high probability. it is a hard year ahead. that seems to mean that he becomes

kathleen hays there. turning to geopolitics, french president emmanuel macron's efforts to enlist china's efforts in brokering peace in ukraine it be unraveling after comments to the -- comments from the chinese ambassador in rage -- enraged others. this is an ambassador known for a strike in comments. i do we know whether these are his views or whether they are tacitly approved by beijing? >> that is the question. aca broke ambassador from the ministry of foreign affairs or is he parroting on those former soviet bloc nations. latvia, lithuania, estonia, and to a certain degree at ukraine. when he essentially told a french television network that these exit soviet states do not have sovereign status as independent nations. that is an inflammatory comment coming from a country -- let's face it, china takes sovereign claims quite seriously. i am making a loose reference to taiwan. it has raised lots of concerns in these former soviet countries and also unravels not only macron's unilateral attempt to try to

kathleen: what objective would you change?: obviously inflation targeting is a really important role, and i would not expect there to be substantial changes there. nor would i expect there to be a winding back of the independence of the reserve bank, which is a key feature of our central bank in australia. there are other meaningful changes which will be proposed in a look forward to perhaps coming back on the program and talking about them when they are out in the wild. kathleen: we will be glad to have you back. governor lowe has said he would like to have another term. have you made up your mind yet? jim: we have said both privately and publicly that in the normal course of events, an appointment that comes up in september would be considered closer to the middle of the year. we also want to get this reserve bank review out there and get it talked about and discussed and consulted on, because that is an important part of the future of the bank as well. shery: jim chalmers speaking with bloomberg. here's a quick check of the

kathleen: fiscal target 5.9%. pick up steam, how will it be balancing your spending priorities? >> during covid we consciously had a very high deficit because we had to borrow [indiscernible] but we have been careful and the fiscal deficit has been aligned with the path that given so we are not exceeding it or reaching it and we hope to continue that way. haidi: the finance minister of nds begin with kathleen hays. more to come. this is bloomberg. ♪ shery: it is a big week for chinese markets with data headed our way. for more let's go to our china markets reporter. what are we watching out for? >> right. this is a big week for china data because we are going to have industry production retail sales tomorrow. this is the key thing investors have been waiting for to gauge the pace of chinese economies and consumption recovery. at how it has benefited and how it will affect the earnings of the e-commerce giant's and developers recovery so this is a thing to watch. the other thing i think people are waiting for is th

dani: kathleen, thank you very much. bloomberg's kathleen hays and info day in tokyo. judy me now is mark malone chief economic advisor at alpha book. what do you make of it so far, kazuo yueh does first go at it so far. martin: it is what we expected from him. it to first meeting and he is just back on the imf and he has spent more time out of tokyo than in tokyo since he got the job in early april. he is an academic. he is not a kuroda market technician. corona was the king of the foreign exchange market and jgb and the nikkei in buying almost 5% of the nikkei and buying 50% of the jgb markets. he intervened in $600 billion yen. this guy is a market tactician. kazuo ueda is the exact opposite and he will not move at speeds that dollar-yen traders or jgb traders want to see. dani: exactly why we have had this reaction here. we are really wound up looking for a more stark change. one of the changes that kathleen mentioned was cpi forecast changes. for 2024, they are seeing a target of 2%. is governor yueh that saying there is a light at the end of the tunnel? martin: t

>> kathleen. >> kathleen, what a beautiful name.hleen reminds me i've got to get back to the office and if i don't go look at the secret service working on me so i will be in trouble. thank you all for taking the time. thank you, thank you, thank you. ♪♪ ♪♪ ♪♪ ♪♪ ♪♪ ♪♪ >> c-spanshop.org is our online store. browse products, apparel, books, home decor, there is something for every c-span fan and every purchase helps support our nonprofit operation. shop anytime on a c-span shop.org. here is a look at the live coverage friday on c-span. 9:00 a.m. eastern come of the house meets to consider legislation that would repeal a commerce department role where -- weaving tariffs on solar panel parts imported that use technology from china. c-span 2, a subcommittee meets at 9:00 a.m. to discuss the national flood insurance program and fema modernization efforts. this in more is available to watch on our video app, c-span now, or on c-span.org. order your copy of the 118th congressional directory, now available at c-span shop.org. it is your acc

>> kathleen. >> kathleen, what a beautiful name. i've got to get back to the office and if i don't go look at the secret service working on me so i will be in trouble. thank you all for taking the time. thank you, thank you, thank you. ♪♪ ♪♪ ♪♪ ♪♪ ♪♪ ♪♪ white house press secretary kasine jean-pierre held a press conference or 40 children of reporters. part of the white house's bring your kids of her day festivities. after briefing the kids on the biden family she answer questions on a variety of topics including president biden's favorite sports the longest right macchio taken in an official motorcade and some of his favorite foods. this is about 30 minutes. >> are you guys trying to tell me something? [laughter] hi. oh my goodness. you guys look amazing. happy take your child to work day. i wonder if i can guess whose kid is whose. should i try? no, not going to do that. all right everybody good morning. this is the earliest we have ever had a preri

haslinda: kathleen, thank you. thank you for that. let's delve deeper into markets and get insights from the chairman and cio of a digital wealth platform with over $4 billion in client assets. good to have you with us. the market is still about the fed and inflation. john williams said inflation is way too high, but you get a sense in the market as well that we are close to peak. >> absolutely. it is all about the fed still, but this is the first time in the cycle that the market and the fed are in sync. we have been going through this rate hike cycle and the market has been ahead of the fed, 1% or 2% higher than what the market has been pricing in, so the dot plot choses that maybe there is one more hike and that is the consensus view and what the market is pricing and as well, so i think we are almost there. haslinda: if the fed and markets are in sync, how do you position your portfolio? >> that is the consensus view. that is why the market has surprised us on the upside this year because we have been climbing a wall of worry with

kathleen: yes.s out three weeks before the policy meeting, the beige book, they do a survey in the 12 district banks of economists -- economics. this beige book says they they see credit -- they see credit accessing through the 12 districts. several districts noted banks tightening their lending standards. i would assume that is more than half. beige book also saying consumer spending flat to down slightly. the rate of price increases are slowing. that makes you think may the pause, when you look at some of the things we are seeing by the fed, some people are leaning towards a consensus of a hike, that may boost to a certain extent, the possibility of a pause. very important. austan goolsbee, the newest member of the fomc, the new, since january, president of the federal reserve bank of chicago. he did an interview on npr national radio in the u.s. he says he is watching the impact of tighter credit on the economy. he says be patient, be prudent, if banks are pulling back it behooves us to pay atten

global policy editor kathleen hays in tokyo. to talk more about central bank policy, we are joined by the director of model portfolio services at invesco. when you look at the bank of japan, a lot of the focus on policy change still possible under the review. but they are keeping policy as is, with disclosures bit by bit on what they could change going forward, how does this fit the wider narrative for central banks? ben: the bank of japan isn't necessarily isolationist. it has had a history of different inflationary challenges, and likes to keep us all on our toes. on the instruction from yield curve control, it is difficult. if you do it gradually, the market anticipates and sells more bonds, and the bank of japan does not buy as much is it wants to. we have to learn to be surprised. that is not the case for other central banks you want to be more explicit, about their interest-rate path and policy. slightly different dynamics, but certainly more of a hawkish threat relative to developed markets, who are nearing the end of the

kathleen hays. four bloomberg clients, a function takes you to our live blog, analysis, commentary, some big market moves in the aftermath of this yet another large incremental hike out of the rbnz. 50. economists were expecting 25. the bank went that amount. joining us now for instant analysis is our guest. her initial reaction -- your initial reaction, sir? >> i am as surprised as you are. we expected 25 basis points. it is up by 50 basis points. the action by the rbnz reflects the dilemma many banks are facing around the world, many between a rock and a hard place in fighting two battles, the slower growth, banking crisis, and on the flipside, inflation. in new zealand it is high at 7.2% in the rbnz has decided to fight inflation and not worry about the fallout for the economy yet. new zealand certainly does not have a problem with the banking sector as the u.s. and perhaps europe has was so that gives them more space to hike and probably the central bank felt it was best to frontload it now. the

kathleen: what is the change in the monumental's?damentals, we had a slowdown earlier. now we have china rebounding faster than anticipated. both mobility and consumption are expected to go faster than expected in october of last year, fundamentally different to what we had before. but what is also true is that the external headwinds from slowing growth in the u.s. and europe continued to weigh on prospects for the u.s. and asia. both the u.s. and europe account for 20% of asia exports. that is an offset, but china is compensating for that with high-growth. haidi: we saw in the first 10 days of south korea's trade numbers, extremely weak when it comes to external demand, what does that tell you about the risks to the region, particularly if you overlay the risks from increased geopolitical tensions between the u.s. and china? krishna: again, one has to put things in perspective. external demand is weak from u.s. and asia. but going beyond that, there are rising geo-fragmentation risks which for hr, they mean a lot because asia is hig

kathleen hays is here with the preview. inflation is still high. >> concerns about the economy domestic and overseas. rbnz expected to hike its key rate for the love of in a row. -- 11th time in a row. they have signaled that basing the peak rate at 5.5%. expecting a 25 basis point rate hike. at the same time inflation running quite high. the latest number seven point 2% year-over-year and lovingly out -- 7.2% and leveling out. with the domestic economy already having shown a small contraction of 0.6%, not a recession but a sign of a write up vectors are taking hold. -- a number of factors taking hold. yvonne: we are hearing from the cleveland fed president loretta mester speaking in new york. she talked about how rates should rise about 5% and stayed there for some time. when it comes to that u.s. jobs numbers, they seemed a little bit softer. >> when you are softening from a high level, it is not enough to change the fed's mind. she also said her plan is to remain diligent, to bring inflation down. inflation remains too h

kathleen: the federal reserve meets again in early may. there is a lot more data coming, economic water to go under the bridge. this is what people are wondering about. haidi: global economics and policy editor kathleen hays. let's get you to vonnie quinn with the first word headlines. >> thank you. the international monetary morning geopolitical fragmentation driven by tensions between the u.s. and china risks damaging the global economy. global output to fall by 2% long-term. if foreign direct investment and capital is channeled towards aligned blocks. a fragmented world is likely to be a poorer one in one of its loudest warnings since the pandemic. japan's trade minister says g7 members concur that natural gas is necessary as a transition energy source but they disagree on how long that might be. a minister told bloomberg that he believes gas will be required for 10 to 15 years. he says nuclear power will remain in the energy mix for japan. >> while introducing as much renewable energy as possible, japan will accelerate the operation of

. >> let's get more of those comments from jim bullard with kathleen hays. a new wrinkle for senators to grapple with. >> i would not call it a big valley for them. it's interesting how you can see off the top when he was asked that question he said, he is not sure how much it is going to impact the economy, the outlook, but it is not though he is waiting for some sort of hunker down moment. the question now people are asking is what difference will or could it make to the central banks, after all, fort many central banks around the world, finding inflation in any part of the various parts of the economy is still very important. could it go even higher on rates? as you heard him say, he said it is an open question. we know prices going up will hit headline inflation and headline inflation is important. when you take in food and energy prices you are looking at the core and that is where the trend is. that is what we hate -- see from the european central bank, saying those are the things that matter most. the most important thing is about oil prices going up,

bloomberg's global economics and policy editor kathleen hays joins us from tokyo.and awe expected from ueda. kathleen: no, this is not governor kuroda taking over when the economy was still deflating, prices were going down in japan. prime minister abe had said, "we need somebody to get going and hit this hard." it's a different situation because now inflation is about 2% on ground and is expected to fall back below the target of 2% and slow down the boj from doing anything drastic right out of the gate. nevertheless that sets the stage here, a very different situation for governor ueda. he has to go about dealing with it in different ways. let's start by saying, no one has completely ruled out a surprise on the yield curve control this week, it's not their baseline, but let's keep that in our back pocket. our guest yesterday, former chief economist at the bank of japan, not ruling it out, thinking this will start later. and of course, mr. ueda spit into parliament on monday, said it is too early -- speaking to the parliament on monday, said it is too early to norm

shery: kathleen hays.et's get over to a vonnie quinn. >> fox news has rate to settle a voting machine makers a defamation lawsuit over the 2020 presidential elections. dominion voting systems says a network agreed to pay $787 million, half of what it had claim. dominion accused fox of airing a bogus claims that had raked the election against donald trump eared fox argued its broadcasts were protected as free speech under the first amendment. treasury secretary janet yellen is set to deliver speech on economic relations with china. her remarks are scheduled on thursday and washington ahead of the planned trip to beijing. ties between the two countries have been frayed over taiwan, spying allegations, technology security, and russia's invasion of ukraine. g-7 countries have vowed to support ukraine for as long as it takes in its fight against russian forces. it follows a meeting of top g7 double nasa japan who reiterated support for the plan. the ministers goal for greater engagement with china to stabilize

get to kathleen hays. >> he is eager and happy to join us, the philippines central bank is very to seei want to start on headline versus core inflation. year-over-year slowed a good amount. it is still way too high. the core rate is climbing. what does that mean for your next meeting? >> the other thing to look at his month on month. when you are you are near, there is way too much information. when you look at that, the march price index is slightly lower than you january price index. you will have to receive what happened, and food prices. the prices still high, they need to move down. from one month to the next. the target should be three divided by 12. it's not consistent except for a few products. >> is that the move you not just hope to be able to make more is likely to say you are not watching big year-over-year numbers but monthly numbers that was negative? >> what contributed to that was high interest rates. 2.5% since january. if the numbers in april, two birds don't make a spring. if april is consistent, maybe it is time to pause. we are not as worried. numbers are surprisin

she is interviewed by the former fcc commissioner kathleen casey. watch afterwards tonight at 8:00 p.m. eastern on c-span. announcer: these high school students participated in this year's studentcam documentary competition where we asked, if you were a newly elected member of congress, which issue would be your first priority and why? these are our top 2021 entries. these years sweaters are 10 and seventh graders from montgomery have school, west front middle school and green river school in silver spring, bethesda, and -- maryland where c-span is available. their wedding documentary entitled "the dark side of pet breeding". >> there are many good congresspeople on both sides of the idol -- aisle addressing biggest issues but so many to take a quick -- a look at pet breeding. >> due to crop failures in the midwest, the federal government said large-scale pet breeding was an alternative. that many facilities began to put profit over conditions. it was an undercover investigation into dogs being used as medical testing that led to a huge legislation

kathleen, always appreciate you, thank you so much for bein here that is tonight's read out, ow chris

we want to make our ow reproductive health decisions. >> kathleen sebelius, good t see you as always.een is the former u.s secretary of health and huma services under president obama and previously served as the governor of kansas the presidency of the senate for reproductive rights, not the north, up says banning mifepristone has zero basis in law and fact the supreme court temporaril allowing use of the drug t continue i'll speak to her about th next steps needed in the fight for reproductive rights. plus, russian opposition politician vladimir kara-murza has been sentenced two decades in prison for daring to decade criticize plot amir putin' war. i will talk to someone who knows exactly what vladimi putin is capable of, the hea of the - bill bauer joins me. and follow this under jobs you will catch me attempting smoke jumpers, literally parachute into wildfires to tr to stop the flames in thei tracks yes, in 2023, as wildfires intensify due to climate change, this is one of the tactics still used to suppress fires later in the show, i'll talk t a smoke jumper who is helpin develop

kathleen hayes is in tokyo with the latest. is bank of america arguing about a shift in the doj might still be on the cards? >> it is interesting. a lot of people say we are not necessarily going to take it off the table. it could happen. it just doesn't seem like the most likely scenario. no change. that is basically what the market is saying. 11% see some sort of yield curve control week. this week, three more. he signaled he is not ready to move on interest rates and certainly not on your curve control. he says he is not ready to normalize the icc framework. bma says look at inflation. it continued to rise on the chlorate. it rose from 3.0-3.1. only about 2%. he also mentioned in one of his answers to the question that there is a danger of the doj falling behind the curve on inflation. he is obviously not putting a big one on that list. this puts less pressure on the bond market, the jgb market to have big yields given the bond market seems,. it seems to be more in a range. b of a is basically saying we are not forecasting a

and my former kindergarten class kathleen is up in the gallery, we celebrated our 50th -- [applause] we've celebrated our 50th wedding anniversary last year, and this year will be celebrating our 54th year of going to the wisconsin state fair together. how about that, kathleen francis, thank you for your relentless support, understanding, really good humor, and insight. i love you so much. thank you. [applause] on may 29th, 1848, president polk signed a bill making wisconsin a state. that means in 2023, we'll be celebrating wisconsin's 175th birthday, and i'm proud to report to you tonight that in 175 years of statehood, our state has never been in a better fiscal position, then it is today. [applause] when we began our together four years ago, our roads and bridges were in disrepair, we sent back tens of millions of dollars of your tax dollars to washington d.c. that could have been used to expand high-speed internet. our school rankings dropped to 18th in the country at one point, support for our university system had been cut by hundreds of millions of dollars. and our state was n

let's bring in our global editor kathleen hays. kathleen, let me start with you. what is the specific data telling us? >> this is a job survey and labor survey. there is loosening up, but it is still tight. fed officials are focused on the type part. job openings fell to 9.9 million. but look how high they remain. before the pandemic, they were averaging around 7000 or 8000. then they spike up because there were so many job openings than people who wanted to go back to work after the pandemic. still pretty high. the vacancy to unemployment ratio fell. but it still shows tightness. the labor market is not getting very soft just yet. we heard the fed board of governors saying she still sees tightness. the labor market still hoping to put some pressure on inflation. no signals they are ready to adjust and move towards a less rate hikes or a pause. shery: emily, what are the markets telling us because we saw treasury yields slumping today. >> perhaps they were taking the signal from the jolts in -- market pretty clearly. if you think it is getting relatively weaker th

i'm here today talking with kathleen mcglothlin, who's written an incredibly important and deeply repord book on the blood

haidi: bloomberg's economics and policy editor kathleen hays. at the forefront of policymaker's minds. let's get you over to vonnie quinn with the first word news. vonnie: ever brand come under fire for failing to publish its 2021 earnings. the stock exchange took disciplinary action by the sizing the group for the delay. the exchanges said they will notify the regulatory commission to record the disciplinary action. the u.s. supreme court extended a temporary hold on new restrictions posed by a texas judge on a widely used abortion pill. the court is weighing a request by the biden administration and a drugmaker to put the restriction on hold. they argue the curbs will lead to regulatory chaos. italian officials have said to have hinted toward taiwan that they would be willing to pull out of china's belt and road initiative. sources say italy's ministry discussed plans to boost cooperation on ship production -- chip production during private toxin taipei. -- talks in taipei. global news powered by 2700 journalists in a hundred 20 countries. i a

kathleen hays, bloomberg tokyo. >> getting some breaking news.he trade balance for the month of march. the deficit. i can't wait to see the minor sign there. the $1.2 billion trade deficit for the month of march. we have seen reasonable increase for exports. 6.5 billion. training 6145 against the greenback. this book to japan's former vice minister for them and asked him why investors -- what investors should expect. >> he mentioned that -- this is closing to 2% with high probability. it seems to me that it becomes more cautious. underway. this is mainly a big company. that important. i would guess he would want to keep them -- keep the current momentum. he has taken care -- >> if we get this, watching inflation closely, does that mean no change in this comfortable spot? think about financial market stress or as a tightening of the monetary policy outside of japan. there could be a more important factor. >> we look at why cc, yield curve control and sooner or later, maybe it will be a year and a half or longer but it changed presumably. right now

kathleen hays is here with the latest. how important is this report?know the federal reserve is watching it because of its impact on growth. the u.s. services sector accounts for more than half of u.s. output and 80% of u.s. jobs. so that is a big driver for the economy. what happened in march is a deceleration. let me tell you the numbers. i want to list them so you can get the drama. any number above 50 means expansion in the ism indexes. services found nearly four points from 55 to 51. new orders, they were strong. 60 26 down. they indicate expansion but the bloom is off the rose. down to 50 95 and employment should slow. jobs growing but losing steam as i said. speaking of jobs, we saw the adp private jobs report. it was up. the month before, 260 one. there is no exact correlation but it does suggest the government's number will come in let's look at a chart because it shows ism services versus manufacturing. what does that show you? it shows you that things have been coming down from strong levels by manufacturing contraction territory, 46.3. ism

kathleen, stop . no brainer. kathleen, stop. no brainer. woue— kathleen, stop. to knows that question is going to be but what i be asked of them. but what i find shocking when find more shocking is when i hear people things like hear people say things like you said rights said earlier, women's rights women under threat. i in women are now under threat. i in 4 women in the experience a 4 women in the uk experience a sexual assault in their lifetime. almost zero. so 0.7% of have been lifetime. almost zero. so 0.7% of-have been accusedi lifetime. almost zero. so 0.7%. of-have been accused of of the met have been accused of wotemse— of the met have been accused of violence towards— of the met have been accused of violence towards women every 3.2 toys. — violence towards women every 3.2 toys. tm— violence towards women every 3.2 toys. m the— violence towards women every 3.2 toys. m the wt,— violence towards women every 3.2 toys. m the wt, o— violence towards women every 3.2 days. in the uk, a woman is murdered— days. in the uk, a woman is murteret ty— days. in the uk

that is kathleen hays joining us from tokyo.the first word news, developing president says manila and beijing emigrate to establish more lines of communication to resolve conflicts in the west philippine sea. as remarks come after talks with the chinese foreign minister. ahead of the meeting he had said the two countries should work together to promote peace in asia and assigned beijing as chipping away at washington's away in the country. a company is trying to break technological barriers as beijing tribes to mobilize the technical sector. xi declared innovation led by companies is key to realizing high-level technology self-reliance. he said the key to growing private business lies removing institutional barriers and collaborating policy. house speaker kevin mccarthy says the house will passes one $5 trillion debt ceiling plan this week but refuses to say if he is already secured the 218 votes he needs. sources: bloomberg mccarthy has not lined up enough votes, but the effort is making progress. his proposal would stay involv

get the accolades but it's all the people behind the scenes, my board but especially for parade, kathleen, teresa and james quinn. [applause] and then closing down san francisco to allow us to have that parade, we need the help of a lot of your city agencies, and they do a great job, bill scott, his station, my good friend captain doug and derek and then the man with the boots on the ground, sergeant tobey moore. they do an excellent job for us. [applause] and i want to thank and congratulate our grand marshal, pat uniak, and all the families of the honorary grand marshal. it's definitely a honor but it's also a commitment and as the mayor said all the events with her busy schedule, we can hope that she leads the way and you can follow. but we appreciate it, your wife una and pat is getting all the accolades but we know you'll be helping him out, so we get it pat. as well as all the families of the grand marshals. thank you. [applause] so it is the season to be irish, we invite everybody to be irish come out and celebrate with us. especially the irish from san francisco, those are two gre

our global economics and policy editor kathleen hays is here with the latest. economists are split. reporter: they certainly are and it is understandable. for the reserve bank of australia, they are at a point where inflation has started to come down, but it is still very high. phil lowe back in february struck a hawkish tone and then got the. that's another reason people are kind of offkilter. there's a tilt toward the pause. 11 of the economists we surveyed at bloomberg news do see the rba rate hiking because of the white line. inflation has come down from 7.4% to 6.8%. as the argument for the pause is also pretty strong, because the blue bars, retail sales are slowing, inflation coming down pretty quickly. you have a lot of australians that will face a reset of adjustable-rate mortgages. we've seen mortgage applications starting to tail off, a sign the housing market is weakening. look course, this other divide and valley that the rba is sitting in. you can see the fed and ecb going ahead with rate hikes even though inflation had clearly peaked. then you look at the bank of korea

i would to thank president kathleen for tackling this issue head on. i look forward to working with her to deliver big results. [applause] we must continue our stewardship of florida's natural resources by supporting additional water quality and everglades restoration enhancing protection for our coastline and establishing the lagoon protection program we are truly making history with their conservation efforts let's not stop now. [applause] [applause] we have rejected the biomedical security state in florida provided protections for floridians against unwanted medical intervention. those protections are set to expire in july. it is important we make all of these protections are permanent, protection for medical authoritarianism should not have an expiration date and the free state of florida. [applause] we also need to protect the free speech rights and conscience rights of physicians. the medical establishment lift an awful lot during covid and physician to file the evidence should not be penalized simply because they buck a stale consensus. we must