joining us to discuss is greg peters, fs investment and kathy jones of charles schwab. kathy, this question a few times this week, we had market volatility and are getting economic weakness from the perspective of the federal reserve, is that a feature or bug? kathy: i think we agree it is a feature but they admitted driving the economy to a point where demand slows down, to me that is the goal and implicit in that is a risk of recession , rising on and plumbing, and they have adopted that. inflation is their target and their commitment to getting it down no matter what happens. i think there were questions early on as to whether they really meant it. i think now the market believes they do. jonathan: greg, do you agree? greg:. i agree. i think you have to take the fed at face value, and i think the markets have been way too complacent the entire time around what the fed is intending to do. i think it is starting to finally play out in real time and i'm not convinced we are even close to the end of it. jonathan: troy, would you say it is too premature to price out hikes

kathy jones with us, chief income strategist at charles schwab. great story that we are going to be with prices up and yields lower? kathy: i think the time to move into more duration has come and we have suggesting that for a while now and when you get 10 year yields above 3%, especially at a time when the fed is tightening and the economy is under a lot of stress, i think that safe haven move -- is the way to go. tom: a wonderful discussion on the tail risk out there. we rarely talk about tail risk in the bond market. i want to go there right now. how uncertain is the determination of what price will do in fixed income now? how malleable are the tail risks of the bond market? kathy: it is a great question. the question is where in the bond market are we talking about? we see a lot of tail risk in credit, particularly lower quality -- even in the private debt market, there is a tilting amount of stress and i think the tail risk is pretty high. treasuries, obviously there are some and i don't think it is immense anymore, simply because we have had

meanwhile, governor kathy hochul says the state is in constant communication with utilities to make sure they are prepared to handle the increased demand for electricity. >> athena jones, thanks. >> a stifling heat wave is wreaking havoc in china, affecting nearly two-thirds of that country' population. it has coincided with rise in covid cases there. as selina wang reports, this has made government mandated mass testing all the more exc excruciating for chinese and health workers working outside in head to toe protective gear. >> scorching temperatures sweep over china. turning mass covid testing into a dangerous task. state media shows covid workers collapsing on the job, due to what the videos say are heat stroke. in eastern china, a covid worker vomits on the ground as colleagues rush to tear off her hazmat suit. unable to stand, she's carried away. it's a scene playing out across china. fainting, falling, crumpling on the ground. lying motionless. struggling to breathe. the covid workers' long hours in the suffocating heat made worse by their head to toe full body protective gear. that is not water, according to state media. it's sweat. gushing out of this worker

jones. who should know about this that that's that's what it was. that's where i say. i got to express the outrage that lisa didn't kathy. what was it like for you when that's what you saw happening? when i saw the cover up, yeah. oh i was overwhelmed because i couldn't believe that. something that terrible had happened and he was gonna be able to go on about his business. he was still ruling on on cases like mine and it just made no sense to me and that's when i decided i had to i had to do something because i couldn't i was in houston. i was doing a whole different job that i didn't like as well. here. he is still on the bench life as usual and i just couldn't live with myself. i couldn't i couldn't just stand by and let that happen. and so did you how did from there? well, that's when i filed the complaint of judicial misconduct i wrote. complaint based on the set of circumstances that i had endured and i sent it to the fifth circuit and that's when they started the investigation. well then after the reprimand. well before the reprimand i was contacted by edith jones and she told me that i was going to be asked to com