to you, kathleen stock, elieter— at lviv to you, kathleen stock, elieter oh— at lviv to you, kathleenust having very basic views designed far as i can tell, designed as far as i can tell, around biological, scientific and facts and with a and logical facts and with a fervent desire to protect women's rights right at the very heart of them. what is actually going on today? just explain the situation to our viewers and listeners. please basically, tethteem— listeners. please basically, kathleen has— listeners. please basically, kathleen has been- c basically, kathleen has been asked to come and kathleen has been asked to come emt speet— kathleen has been asked to come emt speet to— kathleen has been asked to come and speak to one— kathleen has been asked to come and speak to one of— kathleen has been asked to come and speak to one of the oxford soeieties. — and speak to one of the oxford societies. it's— and speak to one of the oxford societies. it's that— and speak to one of the oxford societies. it's that simple. hwmtrets— societies. it's that simple. hundreds of— societies. it's that

. >> i'm kathleen hayes.resident biden and house speaker kevin mccarthy confident their tentative debt ceiling bill will pass congress averting a historic u.s. default. >> global markets primed for relief rally on a tentative deal after the debt crisis battered risk sentiment in recent weeks. >> turkish prez on seals a reelection victory raising the prospect of more friction with western government and more uncertainty with investors. for more on the debt limit let's go to debt -- joe matthews in washington. joe, this is a deal that a lot of people did not think could be done. what is in place now? what are the key points they have to come together on? >> the most important thing we can tell you is this extends the debt limit until 2025. that's the most important part in terms of avoiding default. it gets the picture out of the way, the issue of the debt ceiling until after the presidential election. that was something joe biden was not likely to move on. it auto -- also flattens spending for fiscal year 2024

let's get more from kathleen hays. code the fed be having second thoughts about taking reince again this week? kathleen: we have heard about the resilient banking system in the u.s., former vice chair at the head spoke saying he thinks the fed will go ahead with the hike and signal a pause it will be tricky, how will they signal a pause without making markets think about rate cuts. traders have paired back there that's, last certain about the rate hike coming through on the second day of the meeting. doubting there will be a june rate hike. a couple of lawmakers saying to the fed in a letter that they should be careful because bank failures make the economy vulnerable to in -- an overreaction by the fed. let's bring in grommet -- robert kaplan. he was at goldman sachs, vice chairman. you bring a lot of skill sets the table. at such a difficult time. think the fed should cause, why? >> one is, i think we are in early stages, not the late stages of this banking situation this -- there has been a significant change the pr

kathleen: unprecedented.hearing, the xbb x ceo -- the svb ex-xeo really drew the most ire for selling stocks before the firm disclosed extensive losses. on the issue of whether he would pledge to give back some or all abused and within a dollar a year compensation, he declined, but he said he is willing to work with fdic and other regulators to review his compensation and see if some of it should be given back. it has been pointed out that the collapse of these banks cost the fdic fund billions of dollars. haidi: the fed and the fdic were also in the hot seat, what did we hear? kathleen: plenty of blame to go around. you had lawmakers at the hearing questioning u.s. watchdogs for not doing more to prevent the turmoil. the fed and fdic officials testified as well. and it is important to point out that in a report from the fed, and the insurance report released last month said mismanagement was the root cause of bank failures, looking at some of the regionals, how they performed while the hearings were going on

kathleen should be allowed kathleen stock should be allowed to tether— kathleen stock should be allowed she and her wews— gender identity. she and her views on gender— gender identity. she and her views on gender identity don't retest— views on gender identity don't retteet the— views on gender identity don't reflect the views— views on gender identity don't reflect the views views of the naiortty— reflect the views views of the naiortty ot— reflect the views views of the naiortty or us— reflect the views views of the majority of us 52% of the poputatton— majority of us 52% of the population for— majority of us 52% of the population for sure, pretty much . tremen— population for sure, pretty much . women. women. _ population for sure, pretty much . “ “ women. she she . women. women. women. she she matntatns— . women. women. women. she she matntatns toes— . women. women. women. she she maintains, does kathleen— . “ “ women. she she maintains, does kathleen stock. she-s— maintains, does kathleen stock. shes a— maintains, does kathleen stock. she's a moderate— maintains, does kathleen stoc

rishaad: kathleen, thanks. our bloomberg economic policy editor, kathleen hays and bruce einhorn looking at the debt ceiling and where we are with that. now it's all about political negotiations as are the politics at the moment in ankara. let's get to the first word news with vonnie quinn in new york. vonnie: the turkish president has won the support of a nationalist rival, boosting his bid to extend his rule. the candidate has asked his supporters to back erdogan in sunday's runoff. he was eliminated from the first round were just 5% of voters backing his candidacy. erdogan led the earlier vote but fell short of the 50% majority needed for an outright win. thailand's pro-democracy party is getting ready to form the next government. they signed a pact that lays out their ambitious plans, including reinstating cannabis in the list of narcotics. they stopped short of adding changes to the nations royal gold, a move that may boost support for him to become prime minister. the government brokered a takeover of cre

rishaad: kathleen, thank you. kathleen hays are global policy editor.founder of avm capital. do you think they will go 25 basis points? point being, should they? >> yes. i think they will do 25. if they don't, the markets will get scared. they have to reassure the markets that things are under control. with the markets pricing in more than 80% chance of a hike they will go into that. what they will do is keep their options open. they have two sides of the coin. you've got the banking crisis, that is led to tightening of credit conditions. on the other hand, inflation is trending down, but very slowly, they are worried inflation remained sticky for a long period of time. rishaad: sticky inflation. but we've got a banking situation which is thought to be over with. but it is also sticky. how does this play out in thinking? -- in the thinking? >> we will start with the inflation front. if they hike this time and may be one more hike, you have real policy rate at 1.5% which is restrictive. that should take care of inflation in the medium-term. it may not co

they say kathleen stock should never have been invited.got thousands of comments online that were threatening, hateful, homophobic, transphobic, everything terrible you could think of, really. and this campaign of hate came to oxford with kathleen stock. is this about stopping freedom of speech and cancel culture? why not go in there and debate your views with her? it's exhausting to debate my rights, which is why i'm not in there and why i am out here protesting instead. when the union is doing things like this, it tells us trans students that we are not welcome here. this is about freedom of speech and freedom to protest but some academics are warning students trying to cancel talks is becoming a problem and threatens the very core of what universities are about. i know of academics here who have stopped teaching about sex and gender because they are too worried about student response. the problems really come from the fact that academics have been too cowardly in the past. i think more academics are realising this is a real problem so t

newly reviewed emails indicate the divorce attorneys for hunter biden and his ex-wife kathleen buhlewere aware of the payments to hunter, one totaled $120,000 and called in an email the romania deal. reviewed an email exchange between the attorneys, hunter's ex-wife kathleen said she was not aware of his overseas business dealings. >> i kept my head so deeply buried in the sand. i honestly have nothing to contribute. >> and sandra, john, while it's entirely possible she did not know about the romania deal, appears her attorney did. quote in 2016 to hunter's attorney, on the disclosures, help me understand why it is taking so long to get this basic information hunter's office confirmed to kathleen a deposit of more than $120,000 into hunter's t.d. account as funds from the romania deal. according to house republicans, a company called robinson walker, a business established by an associate of hunter biden received $3 million from a company connected to that romanian businessman we mentioned. the republicans claim they have evidence the payments were funneled from robinson walker to th

kathleen hays is here. plenty to digest's today.he different camps of thought are shaping up. bostic spoke with bloomberg earlier today and he said if he had to vote now he probably would vote to hold things steady. he sees no rate cuts until next year but admitted there is a lot of uncertainty and you probably cannot rule out anything completely. >> no. in today's environment when there is so much uncertainty in the economy i don't think we can relate anything. if i had to vote right now i would probably vote to hold but as you noted we have inflation rates, the jobs report coming out, there is a lot more information we are going to have about what is going on. kathleen: he notes the numbers are still more than twice the 2% target. we also heard from the minneapolis fed and they think the work is not done and more is left to do so the inflation fight is not over. the president of chicago fed said he almost decided against the 25 basis point hike and when he thinks -- and he seems to be saying he is tilting more toward a pause and t

kathleen: anything he says right now, we are going to amplify 100%. everyone is trying to figure out where he stands on what it is going to take for the bank of japan to finally say, it is ready to start moving away for -- from extraordinary angst did -- extraordinary stimulus. his first interview, he said they are not targeting legions, which some people thought they may be. let's listen to what he said. >> on our wages, it may lead to policy change. we are targeting wage growth itself. if we have sustainable and stable inflation of 2%, it is natural that wages should also rise. the key point for our policy decision is whether inflation will rise in a sustainable manner at 2%. kathleen: sustainable inflation, unstable inflation at 2%, that is the key. there has been focus coming in to this whole question. certainly one governor kuroda was stepping down, ueda taking over in april, about the spring wage negotiations being the best in decades, this is another reason people thought they would open the door to the big shift. of course, there are some econ

yvonne: thank you mark and kathleen. a discussion about the fed and the ecb. we have a vonnie quinn in new york. >> ukrainian president solesky is denying that his government used a drone to attack putin's resident in the kremlin. solesky says ukraine only fights in its territory, adding that moscow may be try to distract from its failures. unverified we do from social media says what desk shows what -- moscow says putin is not at the kremlin. pacwest has tumbled in trading after bloomberg reported it is weighing strategic options including a sale. the bank is also being considered's recut. it said last month deposits had stabilized after a rush of withdrawals in march. china has reported a surge in travel and spending over the labor day holiday. the ministry of culture and tourism says the rustic trips jumped 70 percent. tourism spending exceeded the pre-pandemic level. economist predicted the chinese economy will expand this year. for the first time, the sec will require hedge funds to share information on major investment losses. they have no more than 72 h

kathleen hays is here with the latest.but not a pivot. >> not even a for sure pause, but definitely the door wide open, and that is what is important. it is hard and jay powell said it is hard to assess how much credit conditions will tighten and how that will immediately affect the economy. as he and other fed officials repeat this is a resilient ranking system and they're watching, they seem to be confident may be the worst is behind. there is a big focus on what are we doing next with interest rates, and it is clear they did 25 basis points today, it is also important the fomc took out wording on the effect of additional policy firming may be more appropriate. jay powell said yes, it is possible we will drop that. but he is also concerned the economy as not weekend that much -- weakened that much and is concerned policy is not as restrictive. >> it will be an ongoing assessment. we will need data to accumulate on that. not an assessment that means we think we have reached that point, and it is not possible to say that w

rishaad: all right, kathleen. kathleen hays there.stment officer at dws. what are you making of the messaging coming out of both these central banks? you got a different economic climate as well in both. >> it is hawkish from both. let's take the fed first. there's no chance they will pivot. the market has been predicting they will pivot the market even saying there should be a cut in july, but that is not happening in fed speak. with the bank issues in the u.s. debt issue, we probably will have recession at some point in the u.s., and the fed probably will not cut on its own. it will be too late. in europe, it is different. they relate because europe was looking like recession at the beginning of the year because of the energy situation, but europe now looks like it will grow more than the u.s. and will not go into recession, so it is sensible to raise rates, but, you know, i think -- yeah, i think the implication is european equities probably have got more upside and also the euro as well. rishaad: absolutely. you look at the bond m

joining us is dennis lockhart and kathleen hays.reat to have you with us, especially during a busy time with so many things happening. almost every time we talk to you. how different is this time around? is this different from the past or is what we are seeing right now -- just more of the same, like chair powell seem to suggest? dennis: it is different in the sense that it is the smaller banks, the regional banks under stress, not the "too big to fail" banks. it is different from what we experienced in 2008. they are smaller and to some degree have fewer resources to defend themselves. i think it is worrisome that we have this pacwest information that came out after the press conference and after the markets closed. it just looks like the markets are moving from one bank to another and the vulnerable deer in the herd are being picked off. i worry about this but i would like to believe that jay powell has information that suggests the situation is contained or containable. shery: in this environment, does it make sense that the fed

paul: kathleen ell thanks for joining us.et around above the stories in today's edition of daybreak also available on a mobile in the bloomberg anywhere out. customize your settings so you only get news on the industries and assets you care about. this is bloomberg. what do you see on the horizon? uncertainty? or opportunity. whatever you see, at pgim we can help you rise to the challenges of today, when active investing and disciplined risk management are needed most. drawing on deep expertise across the world's public and private markets in pursuit of long-term returns... pgim. our investments shape tomorrow today. ♪ paul: let's look at currency markets after the in principal agreements on ideal to avoid u.s. default. the dollar spot index putting on modest gains. the u.s. dollar higher against the japanese yen, back above the 140 level, 14076 now. the australian dollar the best-performing of the g 10 current seats at the moment, 6527 against the greenback. the yuan showing signs of weakness counting down to pmi numbers lat

kathleen— oxford union should disinvite. right. kathleen stock. here's wnoi— right. kathleen stock.ot hate groups and stock is not transphobic. she's not trans oxoiusionony— not transphobic. she's not trans oxoiusionony .— not transphobic. she's not trans exclusionary . she— not transphobic. she's not trans exclusionary . she she has not exclusionary. she she has not oonooignoo— exclusionary. she she has not campaigned against trans rights. in campaigned against trans rights. in ion.— campaigned against trans rights. in iooi. sno— campaigned against trans rights. in fact, she has— campaigned against trans rights. in fact, she has asserted openly ono— in fact, she has asserted openly ono nogooiooiy— in fact, she has asserted openly and repeatedly that trans people oosonwo— and repeatedly that trans people oosowo oguoi— and repeatedly that trans people deserve equal rights and full onoiooiions— deserve equal rights and full protections under the law. she nos— protections under the law. she nos noi— protections under the law. she nos noi soio— protections under the law. she has not sai

kathleen in the deep south is a trap _ unfortunately.orter. _ unfortunately. kathleen in the deep south is a trap supporter. as - unfortunately. kathleen in the deep south is a trap supporter. as this i south is a trap supporter. as this made her change her mind? hat made her change her mind? not reall . if made her change her mind? not really- if it _ made her change her mind? not really. if it was _ made her change her mind? not really. if it was a _ made her change her mind? not really. if it was a choice between joe biden— really. if it was a choice between joe biden and donald trump in the next election, i would vote for donald — next election, i would vote for donald trump.— next election, i would vote for donald trump. next election, i would vote for donald trum -. ., ., , ., , donald trump. even though a “my has found him liable * donald trump. even though a “my has found him liable of h donald trump. even though a “my has found him liable of sexual_ donald trump. even though a jury has found him liable of sexual abuse? - found h

kathleen— oxford union should disinvite. right. kathleen stock. here's wnoi— right. kathleen stock.ans oxoiusionony .— not transphobic. she's not trans exclusionary . she— not transphobic. she's not trans exclusionary . she she has not exclusionary. she she has not oonooignoo— exclusionary. she she has not campaigned against trans rights. in campaigned against trans rights. in ion,— campaigned against trans rights. in rag, sno— campaigned against trans rights. in fact, she has— campaigned against trans rights. in fact, she has asserted openly ono— in fact, she has asserted openly ono nogooiooiy— in fact, she has asserted openly and repeatedly that trans people oosonwo— and repeatedly that trans people oosowo oguoi— and repeatedly that trans people deserve equal rights and full onoiooiions— deserve equal rights and full protections under the law. she nos— protections under the law. she nos noi— protections under the law. she nos noi soio— protections under the law. she has not said that— protections under the law. she has not said that trans rights are dangerous— has not said that tr

haidi: global economics and policy editor kathleen hays.et's get you to vonnie quinn with the first word headlines. >> president biden has called top congressional leaders, inviting them to a may 9 meeting to discuss the debt limit standoff. the invitation comes hours after treasury secretary janet yellen warned that the y as june. since hitting the limit of 31.4 trillion in january, the treasury has been using accounting maneuvers to stave off a possible default. sources say the white house is considering promoting fed governor philip jefferson to vice chair. in addition to naming a candidate to an open board slot in a shift from prior plans. the move is under consideration after pressure from senator robert who is calling for someone to be appointed to the fed. imf chief christian says there thinking about debt reconstruction after getting burned. they've joined western lenders from the periscope in recognizing need to create a better mechanism. more than half of low income nations are near debt destress. >> we fortunately are seeing a sh

defended kathleen stock's right io speak— defended kathleen stock's right io eoeok .— defended kathleen a tolerant society. ori— hallmark of a tolerant society. but activists— hallmark of a tolerant society. but activists from _ hallmark of a tolerant society. but activists from the university's- but activists from the university's lgbtq+ society booed,— university's lgbtq+ society booed, waved _ university's lgbtq+ society booed, waved rainbow flags , and booed, waved rainbow flags, and appeared— booed, waved rainbow flags, and oppeoreo io— booed, waved rainbow flags, and one appeared to glue herself to the one appeared to glue herself to he hoor— one appeared to glue herself to the floor before _ one appeared to glue herself to the floor before being escorted out the floor before being escorted oui by— the floor before being escorted our hy semio— the floor before being escorted out by security. outside the hair— out by security. outside the hall, activist— out by security. outside the hall, activist chrissy told gb hewe— hall, activist chrissy told gb hewe irone— hall, activist chris

kathleen: well, that is where we are.e are getting a lot of optimistic talk from the administration that things are moving forward and that progress is being made. we hear braden saying that the that limit talks moving along over the weekend, adding, we want one and so does the gop. that is a good thing. lael brainard, head of the national economic council, biden's chief economic advisor, saying the same thing, that dogs are serious and constructive and if they don't do it, the rates will go up on your mortgage and your car loan, your small business. this is a perspective of where we have been to get an understanding of where we are now and where we have to move forward. last tuesday biden and house majority leader mccarthy kicked off. it was a budget deal they were first talking about. biden said it had to be separate from boosting the debt ceiling. mccarthy and the republicans are saying, we want a budget deal that we have to know that we have a budget deal in place first where you will cut back on spending before we ra

kathleen, thank you for your time and your expertise tonight.reciate you being here. >> thank you for having me, rachel. >> pinochet is chilean, not argentinian, slip of the tongue there. but other than that, we'll be right back. stay with us. ay with us keep being you... and ask your healthcare provider about the number one prescribed h-i-v treatment, biktarvy. biktarvy is a complete, one-pill, once-a-day treatment used for h-i-v in many people whether you're 18 or 80. with one small pill, biktarvy fights h-i-v to help you get to undetectable—and stay there whether you're just starting or replacing your current treatment. research shows that taking h-i-v treatment as prescribed and getting to and staying undetectable prevents transmitting h-i-v through sex. serious side effects can occur, including kidney problems and kidney failure. rare, life-threatening side effects include a buildup of lactic acid and liver problems. do not take biktarvy if you take dofetilide or rifampin. tell your healthcare provider about all the medicines and supplement

haidi: our global economics and policy editor, kathleen hays. front and center of expectations in terms of how asian assets have been tracking. we will be tracking any further strength when it comes to the dollar index. that has repercussion for asian earth day. the dollar seeing its best day since march. the boe signaling the pause may lift the broader currency index. the pound seeing its worst day against the greenback since early march. this is the picture when it comes to asian currencies. a bit of upside when it comes to the aussie dollar, a top 67 u.s. dollars. we're watching dollar-yen, sitting at 134. when it comes to equity, muted start to trading. futures about .1%. kiwi stocks to the downside, following broader asian stocks falling in thursday's session. traders are weighing the inflation numbers out of china as well as the u.s., we are through the thick of earnings season as well. we did see the broader asian pacific index falling by about .5%. continuing to watch when it comes to tech, after we saw that is a major drag on the broade

defended kathleen stock's right io speak— defended kathleen stock's right io eoeok .— defended kathleen a tolerant society. ori— hallmark of a tolerant society. but activists— hallmark of a tolerant society. but activists from _ hallmark of a tolerant society. but activists from the university's- but activists from the university's lgbtq+ society booed,— university's lgbtq+ society booed, waved _ university's lgbtq+ society booed, waved rainbow flags , and booed, waved rainbow flags, and appeared— booed, waved rainbow flags, and oppeoreo io— booed, waved rainbow flags, and one appeared to glue herself to the one appeared to glue herself to he hoor— one appeared to glue herself to the floor before _ one appeared to glue herself to the floor before being escorted out the floor before being escorted oui by— the floor before being escorted our hy semio— the floor before being escorted out by security. outside the hair— out by security. outside the hall, activist— out by security. outside the hall, activist chrissy told gb hewe— hall, activist chrissy told gb hewe irone— hall, activist chris

i think kathleen stokes should have the mom— kathleen stokes should have the hpht—utso- kathleen stokesws? he's an expert on nerve ueemts unu— views? he's an expert on nerve ugemts umt. umt— views? he's an expert on nerve agents and, and i,— views? he's an expert on nerve agents and, and i, i honestly tom-t— agents and, and i, i honestly tom-t mow— agents and, and i, i honestly don't know anything about what he stunts— don't know anything about what he stumts tot— don't know anything about what he stands for and— don't know anything about what he stands for and what his views so— he stands for and what his views so t— he stands for and what his views so t he— he stands for and what his views are. so i he criticised- he stands for and what his views are. so i he criticised the government on on on twitter. it depends on what conference he was going but i mean, he was going to but i mean, he should have the free speech to say what he wants. of course you know but but going back getting back kathleen stock, mean back to kathleen stock, i mean it's that we're it's unbelievable that we're eve

kathleen stock has every right of free speech. i'm a very firm believer for that.on't agree with. we have received thousands of comments online, some of them very homophobic, very transphobic, hateful, threatening. we have received death threats. they say it's about protecting trans students and rejecting intolerance. what the oxford union is doing. implicitly by giving her a platform to speak in this way, - they're supporting her views, they're amplifying them in a way that's harmful to the trans - community in this city, i and that's unacceptable. why not go there and challenge those views that you disagree with? it's really, really exhausting - as a trans person to be constantly expected to justify your existence, to debate, you know, _ your your rights. oxford university's lgbtq+ society says they will exercise their right to protest. the oxford union has said attendees will have an opportunity to respectfully engage and challenge professor stock�*s views at the event. but this is a debate wider than gender and the oxford union. one where campuses can be a batt

kathleen stock,— the oxford university. tv/tirit" kathleen stock, author of wetertet— kathleen stock,d the flames are kathleen stock and the flames being— kathleen stock and the flames are now being found by these eeetemte— are now being found by these academic acas_ are now being found by these academic acas who've written an opee — academic acas who've written an open _effectively_ open letter effectively saying we open letter effectively saying tre—tee- open letter effectively saying we _free speech i we don't want free speech at extort—tut- we don't want free speech at oxford _ but she. oxford university. but she tettewes— oxford university. but she believes sex in believes that biological sex in humans is real. it's insane . how humans is real. it's insane. how could say that? it's so could she say that? it's so evil, isn't it? it makes no sense. but to be fair, if i was her, just. just go there and talk about something else. because they get on to you. because when they get on to you. but that's what they want. vtetor— but that's what they want. vtetor-ttew- but that's what they

kathleen stock,— the oxford university. tv/tirit" kathleen stock, author of wetertet— kathleen stock,ock and the flames are kathleen stock and the flames being— kathleen stock and the flames are now being found by these eeetemte— are now being found by these academic acas_ are now being found by these academic acas who've written an opee — academic acas who've written an open _effectively_ open letter effectively saying we open letter effectively saying tre—tee- open letter effectively saying we _free speech i we don't want free speech at extort—tut- we don't want free speech at oxford _ but she. oxford university. but she tettewes— oxford university. but she believes sex in believes that biological sex in humans is real. it's insane . how humans is real. it's insane. how could say that? it's so could she say that? it's so evil, isn't it? it makes no sense. but to be fair, if i was her, just. just go there and talk about something else. because they get on to you. because when they get on to you. but that's what they want. vtetor— but that's what they want. vtetor-ttew- but that's wha

kathleen hays is here with the latest. are getting more creative around what they will do next and what they will do with the june meeting, hike or not. philip jefferson making the case of the doves, it is time deposits. he says it can take a full year for the impact of interest rate hikes to work through the economy. he talked about that you need time to assess how much banking turmoil leading to consumer households not getting the loans they want and what that will mean for the economy. let's look at jim bullard. jim bullard is saying that disinflation is moving slower than i would have liked. and that he would like to see rate hikes as insurance against inflation. our main risk, he says, is that inflation does not go down or it even turns around and goes higher as it did in the 1970's. in 1982 they stopped hiking rates and thought they were done, they were not. in 1984 they push the economy into the deepest recession since the great depression. lori logan is shifting more to the hawkish camp. she is the president of the

kathleen: 12th rate hike in a row. if you look at where consumer prices are and when you look at where the key rate is, you can see there is a big gap. if you are in the camp that says, you have to get your key money market rate if you are the fed, this rate if you are the be away, above inflation rate, there is a long way to go. in the policy statement, the bank of england did keep the door open to more rate hikes, not surprising. depending on what wages do, wages are running over 6% year-over-year. well above the key rate. services inflation, sticky in the u.k. just like it is sticking in other parts of the world. andrew bailey did seem to open the door to a rate hike pause. >> we are approaching a point when we should be able to rest in the sense in terms of the level of rates. we haven't seen the evidence yet to give us a strong sense of the. of that. kathleen: andrew bailey got a lot of pushback at his press conference, people are saying, do you still have credibility on the inflation fight in february when they s

kathleen was celebrating her wedding anniversary on that cruise, kathleen, thank you for joining us.is happened on the last night as the ship was making its way from the bahamas back to its home port of charleston. that storm had been churning off the coast of florida and the carolinas and georgia for a number of days. what was it like when you sailed head long into it? >> yeah, hi, thank you so much for having me today. so to kind of describe how it was is around 2:30 p.m. on friday afternoon we had heard that we were headed into some harsh weather and i've been on cruises before and this was unlike anything i've ever experienced. kind of the best way to describe what we went through would be feeling trapped. it was like the ship sounded like it was almost just under attack from the water. it was the most crazy thing i've ever experienced. our stuff had flown off from all of like the shelves. at one point i even grabbed like a life jacket from the closet just because he was so sure that we were going to abandon the ship. i was -- i was terrified. >> sandra: did you ever at any point

kathleen _there as kathleen stock to speak there as a kathleen stock to speak there as o-tneeton — kathleen because kathleen stock is wnot— this because kathleen stock is wnot-cott— this because kathleen stock is what-call gender- what i would call gender ontttoot— what i would call gender critical, not critical, right? she's she's not a critical, right? she's she's not o nont— critical, right? she's she's not o non-oenon.- critical, right? she's she's not a right person. she i would a right wing person. she i would say a right wing person. she i would ooy one-o— a right wing person. she i would ooy one-o-owtte- say she's probably quite left wing— say she's probably quite left wtno-tooweo- say she's probably quite left wing-issues, but. say she's probably quite left wing issues, but she wing on most issues, but she toeon-t— wing on most issues, but she doesn't subscribe— wing on most issues, but she doesn't subscribe to the oppnovet — doesn't subscribe to the approved narrative that there are approved narrative that therei e—one are multiple genders and she wonto— are multiple genders and s

kathleen _there as kathleen stock to speak there as a kathleen stock to speak there as o-tneeton — kathleen because kathleen stock is wnot— this because kathleen stock is wnot-cott— this because kathleen stock is what-call gender- what i would call gender ontttoot— what i would call gender critical, not critical, right? she's she's not a critical, right? she's she's not o nont— critical, right? she's she's not o non-oenon.- critical, right? she's she's not a right person. she i would a right wing person. she i would say a right wing person. she i would ooy one-o— a right wing person. she i would ooy one-o-owtte- say she's probably quite left wing— say she's probably quite left wtno-tooweo- say she's probably quite left wing-issues, but. say she's probably quite left wing issues, but she wing on most issues, but she toeon-t— wing on most issues, but she doesn't subscribe— wing on most issues, but she doesn't subscribe to the oppnovet — doesn't subscribe to the approved narrative that there are approved narrative that therei e—one are multiple genders and she wonto— are multiple genders and s

kathleen: of course, that is a singles we, the relatively new president of the chicago fed. i put him in the camp of those who tend to be a bit more dovish. you have to be careful when you are landing to -- landing the plane to think of everything that is on the landscape. finally, the president of the reserve bank of new york, third in line at the fed in terms of impact on policy. he's looking at all the things that are on the table right now, but in the end, he is saying inflation is still too high but moving in the right direction and by the end of the year, it should be a little over 3%. if inflation gets down to a little over 3% and you have your funds rate at five percent, maybe higher, there's probably no one alive that is not a risk -- no one alive who would argue that is not a restrictive policy. they all agree on waiting to see what happens, but the inclination for john williams seems to be maybe we should pause now. haidi: of course, we are also getting comments out from the fed's singles be talking about a potential soft landing for the economy. we heard a couple

similar to what was offered to kathleen. after she was forced to move out of her creek side encampment. >> it is this housing is somewhere i will get arrested. >> the mayor says they will have the budget priorities and approach to homelessness at their meeting on tuesday. >>> this bay area neighborhood declared a state of emergency. now, reinforcement are coming in to restore order. >>> it is the one day drivers in san francisco don't have to worry about feeding their meters. not for long. after a warm mother's day weekend the temperatures return to near average across the bay area. 60s around the barks 70s farther inland. we are in for a brief warm up tomorrow. we will take a look at if it will last heading towards next weekend coming up in th inner voice (furniture store owner):i know everything about my new furniture business... ...well, everything except the whole business part. not anymore. with quickbooks, you can confidently manage your business. new business? no problem. success starts with intuit quickbooks. . >>> t

kathleen o'day in the house. thank you, sister, you did a great job on this station from beginning to end for us. and we appreciate you, we need to clone you, thank you. and would like to welcome our fantastic artists here. michael bartloss have ralph come up per further opening remarks. come on down, brother. [applause], thank you, chief. good morning i'm ralph remmington welcome you to fire station 49. we celebrate initial ehs week and new art work. i like to take a moment and thank the fire department for hosting us today at station 49 opened 2 years ago and for their close partnership and collaboration the past few years we work on this incredible public art project. we are honored have mayor breed. supervisor walton. chief nicholson and michael here with us today who you will hear from in a few moments. i see and would like to welcome several art and fire commissioners this are here with us today. as well as inter~im director carla short. welcome. [applause]. the over all ambulance deploy am fire station 49

kathleen: wage gains is the thing concerning him. the jobs report we got, they accelerated average dollar -- hourly earnings up by 4.4% year-over-year in april. neel kashkari mention services prices, core services not changing that much. not convinced with the more hawkish people, but definitely i think investors have the sense that maybe this does add weight to arguing for a pause when they get to june. rishaad: we just move to the bank of england increasing rates for the 12 time in the governor andrew bailey saying more hikes are possible. david told me earlier that we saw this forecast for growth. the biggest alteration, if you will, since it gained its independence in 1997. kathleen: that's why there was a lot of conversation about how economists are questioning the credibility of andrew bailey when it comes to inflation and that the press conference, the port -- the reporters were all over bailey saying what's going on because they have made these big changes. key rates wednesday five basis points as expected to 4.5%. in the pol

would bring in kathleen hayes and adam.day after the rescue of first republic bank, so why the renewed worry? >> indeed, and just a day after those comments from jamie diamond after his bank acquired first republic, putting a bit of a dampener around the caution, the sense that he was a long negotiation which took place between the fbi and the -- j.p. morgan first republic, and radio was struck. and indeed, monday seemed to show in the stock prices that there was a sense of calm. but that gave away quite quickly on tuesday, and during the session we had volatility as well. really, it was not about pinning down in the particular news piece of information. what it was really down to was this overriding sense of that lack of confidence and that is still there. the lack of confidence that the fdic are moving on uninsured deposit positions and which a lot of people have been looking for. just the fact that a lot of the systemic issues that have impacted regional banking in the u.s. over the last two or three months and indeed wh

. >> i'm kathleen hays from the headquarters in new york. beijing has authorized the purchase of microchips, the latest salvo in a -- the escalating tensions over micro conductors. >> and negotiators resumed talks in d.c. over the debt ceiling. >> markets are bracing for even more volatility as that debt deal seems elusive. and while, top investors to save japanese stocks are the place to be this year. get a quick look at wall street because the s&p 500 had a number of high and it stopped short on friday when president biden had to get on that plane without striking any kind of deal. not even an outline. that is when the s&p ended up a tent lower than the nasdaq. you can see on the future site we still have read on the screen and there's that sense that if there is no debt deal why would we buy equities. this also had an impact on the bond market and any concern about a debt ceiling rates not getting past means a default potentially happens and that could hit the global economy. that is one thing that drove bond yields higher on friday, and

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let's bring in kathleen hayz for a breakdown of this decision.e were expecting. >> the bank of korea, but third time they have done this. they were one of the most aggressive rate hikers in the beginning. they were one of the first to signal a pause. at first it was a question of how fast inflation would come down and inflation is still above target, but it is well off the peaks. we see more progress in korea's inflation with the headline number down to 3.6%. the core remains at 4.6% year-over-year. that is one of the things that gives them a green light to pause. there is a worry about global recession, the united states might have into recession. we are watching europe, the sense that this could spread. china's recovery has been less stellar than we were expecting. china is a big exporting nation so the concern is that these are the kinds of things that will way down on the economy. they can well afford to take another pause to see if they have done enough. haidi: to your point when it comes to inflation expectations, the do not seem to drop ma

kathleen hays is here with the latest. how optimistic should we be?pressing some optimism today. you know the debts also started off. by thursday, they said things seem to be progressing. we will meet next week. today, before they got on air force one, the president said i remain optimistic because i am an optimist but i really think the desire on their part, he means the republicans involving negotiations as well as hours to reach an agreement, i think we will be able to do it. you think -- he says things are constructive and moving forward but just not there yet. so is the president talking things out? is he trying to make it other than we think? we don't know. we know the issues on the table are very different. the start of the republican side. they want the federal debt the federal spending part of this addressed everything from the debt limit. let's pass a budget and decide on tax hikes and spending and then we'll get the debt limit done. they want to keep everything in the inflation reduction act. a lot of it is very stimulative. the republicans

haidi: bloomberg's kathleen hays.hat is not reassuring is levels of household spending that we are seeing, a big contraction when it comes to the month on month number falling 4.3% to 114.3 from a month earlier according to the index released. if you want to break it down we saw homebuying down almost 14% month on month. health and fitness falling by 14%, transport down over 1%. cars rising 5.3% and a whopping almost 40% rise year on year. this comes on the eve of the delivery of the australian budget. we are expecting to see the first budget surplus in 15 years on the cash search windfall from taxes as well as elevated commodity prices. were watching australian assets. we've seen weakness when it comes to australian bonds. yields have been rising on the back of that across the three in 10 year. we've seen support when it comes to the aussie dollar as well. the 67 level is above the april 20 hi. we will see if we can find support for the aussie dollar after an 2% last week. the biggest weekly gain since early november

then prince charles bestowed a queen's honor on kathleen kimura.imura he was he was charming. >> he was extremely friendly, very chatty. it's historic. i've been living here 50 odd years. i still feel very close to my country. >> kathleen says she will be putting this flag up outside her home tomorrow and waking up at two in the morning to see king charles's coronation and the coronation of king charles, as i just said, is tomorrow, abc news will have live coverage of the events all morning starting at 2 a.m. it runs until 7 a.m. live here on tv or streaming on the abc seven bay area app. it will be quite the spectacle. >> of course, we still have much more news ahead. >> let's get to abc seven news anchor karina nova for a look at what's coming up at 530. karina, thanks. dan and alma. >> the san mateo county board of supervisors recently passed a sanctuary ordinance, but some say it's controversial. >> the abc seven news i-team stephanie sierra joins me after she fact checked statements about convicted criminals and the new policy. >> plus, the ea

the fed, kathleen says probably one and done.ut also the messaging is what people are looking after. >> i think the fed has an incentive to talk a little bit tougher to undo some of the tightening they have already influence. haslinda: so much uncertainty. if you take a look at the data so far, the inflation for manufacturing rose unexpectedly. how do you seek shelter? >> it is always tough in these environments transitioning from one stage of the economy to the next. you get confusing signals. it makes sense to have a good diversified book. i think the world of hedge funds is looking more interesting at the moment spirit for many years, they were constrained by the lack of opportunity. yields were very low and it was tough to make money. but i think opportunities are looking more interesting at the moment. rishaad: how are you looking at the moment? we had a guest on who said there will be a point when investors find that given the different metrics of valuation that it becomes almost impossible not to become a bull and get in t

david: kathleen hays there for us in new york. the crux of what camping was pointing out showed up in the treasury market really in a big weight these last two weeks. 17 basis points on your two year yield, nominal yield. this melt up also pushing no real yield back to the highest of the cycle. let's bring in a rates strategist at ocv bank. it is nice to speak with you. what do you think was behind this latest turmoil or pressure we are seeing on the short end of the treasury curve? >> the two year yield has been moving mostly in line with changing expectations. the recent commentary from fed officials have been mixed, and the data has been mixed as well. the latest fomc minutes we feel are of this view. that is why the market gets a little bit excited to care hawkish comments. we do believe the fed can afford to pause at this juncture especially when they themselves are uncertain about the inflation outlook and their own policy rate outlook. rates are already at restrictive levels, so it can continue to work its way through witho

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