michael mckee speaking to a fed official, john williams.ike: we want to welcome president williams, the president of the new york fed, to bloomberg television worldwide. you were also the vice chairman of the open market committee. second in command for the group that makes interest rate decisions. you have to decide what you are going to do and how fast you will do it going forward with the data you have. we just got retail numbers. inflation boosted sales happy percent. i know you have looked a little bit at the numbers. have we seen any decline in demand? john: first of all, nice to be here in person. like to do this today. i think we are seeing some early signs that consumers are shifting their purchasing patterns coming out of the pandemic, away from all the purchases of goods over the past few years and more into services. i will not respond too much to one month of data, but that is the pattern i'm expect to see continued during the year. i think it's an important part of the story, to see consumers as we get past the pandemic, movin

michael mckee will give us the data in four minutes. and then we have seth carpenter, chief global economist at morgan stanley. futures are up eight. this is bloomberg on radio and television. tom: the only price that is down in america are red sox baseball tickets. they started out 1-3. ticket prices decline, everything else is up. the report you been waiting for, michael mckee. do we get it right at 8:30? mike: getting it right now, as a matter of fact. almost exactly what economist forecast. on a month over month basis in march, cpi went up 1.2%, that was forecast. up .8% the month before. on a year-over-year basis, up 8.5%, so a rounding issue there that people will look for. the forecast was for 8.4%. still leaves us in the same place. this is the highest inflation since january of 1982. the core, .3 percent, so that comes in lower. 6.5% on a year-over-year basis, lower than anticipated. tom: there is a lot of market on the move, green on the screen. s&p futures up 29. that is a genuine percentage move, up .6%, nasdaq up 1.2%. 2.71

mike mckee mckee of bloomberg joining us very shortly. yields higher by three or four basis points. euro-dollar -0.6%, and dollar-yen to the moon. this is bloomberg. ♪ what's it like having xfinity internet? it's beyond gig-speed fast. so gaming with your niece, has never felt more intense. hey what does this button do? no, don't! we're talking supersonic wi-fi. three times the bandwidth and the power to connect hundreds of devices at once. that's powerful. couldn't said it better myself. you just did. unbeatable internet from xfinity. made to do anything so you can do anything. whoa. >> live from new york city, here is the price action on the s&p, up more than 1%, on the nasdaq up 1.7. decent numbers from facebook. later on this afternoon we will hear from amazon and apple. economic data crossing the bloomberg which means we catch up with michael mckee. michael: bloomberg's economics call the first quarter a pothole, a rather deep one. the gdp at -1.4%. the forecast consensus was a 1% gain. we grew at a 6.9% rate in the fourth quarter. personal consumption is not bad, 2.7%, but not

we heard michael mckee's interview with esther george. said 50 basis points needs to be considered but we heard from lael brainard talking about may as well. she said the fed will shrink the balance sheet at a rapid pace as soon as may and went on to say we will get the policy neutral this year. that reaction showing up in the treasury market. the 10 year yield up 13 basis points trading at 2.52%. you are seeing a steepening of the yield curve. no longer inverted when it comes to the twos-tens. it is a bigger move on the long and then the short end. we are keeping an eye on geopolitics. in a few minutes we will get a preview of the ukrainian president zelenskyy's address to the un security council. we are awaiting his remarks as well at that security council meeting. the under secretary general is speaking but we will bring you president zelenskyy's remarks as soon as they come. guy: absolutely. brilliant to hear what he has to say given with the latest pictures have shown happening in his country. how forceful will he be? we have seen ad

let's go back to mike mckee where he gets a moment to look at the data. what is the distinction at 8:41? michael: what good piece of news for the federal reserve's they had put in this new framework to try to bring down unemployment for minority groups and they were concerned about having to abandon that to fight inflation. the employment rate for black americans's nap capital 6.2%. it was just in the fives before the pandemic started. there was a drop of 6.6%. for asian, 2.8. whites come in at 3.2%. for hispanics 4.2%. everything dropping on that side and it looks much better for the fed in terms of having to retreat from running the economy hot. tom: thank you so much. a headline coming out. capital group of los angeles is truly one of the great activist managers. they activated last week and the report is they are seen as a seller of that enormous block of barclays shares. it is important for our global wall street audience to identify that with the capital group of los angeles. gina martin adams joins us, chief equity strategist for tina strategy at b

michael mckee knows better than me.ut the bottom line is that people that ignore trade ignore it at their peril. jonathan: back to the conversation in just a moment. we will have the eci in america. michael mckee in studio. jonathan: we have a little bit of data in the united states. your last thought before the federal reserve meeting next week. to break the data down, we can cross over to mike mckee. mike: good morning. the numbers have not crossed yet. the numbers we are watching, i'm watching, is the employment cost index which actually goes up 1.4%. the forecast was for 1.1. last month was 1.0. the question is, and we will have to get the latest details on this -- it has not loaded yet. the point is, that is what caught jay powell's attention. big jump in third-quarter numbers. the federal reserve he decided should move to raise interest rates. personal income is up half a percent, better than forecast. personal spending numbers, 1.1 percent, significantly better than forecast, 0.6. personal spending was 0.2% in fe

jonathan: mike mckee, awesome as always.king at this data in the months to come, to your point, that rate has not kicked in yet in a big way. the housing stocks have already started to anticipate this year to date, and as we have talked about them repeatedly, they are down in an ugly way year to date. tom: i am burning up the two-year yield. we are at a 2.50%, right? we just popped up to a new high on the two-year yield. jonathan: yields higher across the board. tom: it is incredible. jonathan: you wonder whether the situation starts to kick in, and i think lisa has spoken to this a few times already, that the fed's past is not sufficient for what they need to do, and they have to rethink it. this goes back to the 75 basis point thing from jim bullard. that for me is a distraction. the issue for me is that you want to 3.5% by year end. the committee, and we are getting conflicting signals about this, they are ready to go may 4. the rest of the committee is talking about neutral with a low 2% handle on the fed funds rate, may

michael mckee breaking down the numbers. i will have that cpi data around 8:30 a.m. washington time. in new york around that same time there was a shooting aboard a subway train in brooklyn. we have been covering that all day long. we will get back to our coverage in just a moment. this is bloomberg. romaine: we are continuing our coverage of the shooting that occurred a little bit earlier today about 8:30 a.m. new york time in brooklyn outside of manhattan. manhattan bound train, a person entered the train at some point. while on the train he opened a canister, smoke began to fill the train car, and then he began shooting. that according to the police. the police are now looking for that suspect. right now, that suspect at large. joining us to talk about what we know and what we don't know, nelson joining us, former u.s. marine and law enforcement professor and founder and ceo of the new york city-based security company 360 protective solutions. thank you for taking the time. before he get to your current role i would like you to put your former role as a law enforc

the children's author david mckee, who's died at the age of 87. and fortnite to pass the time and stay connected. but it's notjust the big name games that have benefited in this multi—billion—pound industry. and tonight the bafta games awards will recognise some of smaller games that have succeeded in the past year. 0ur gaming reporter steffan powell is on london's southbank where the awards are being held. not only is tonight a chance to appreciate the success of the last 12 months but as you were saying, the broader successes of the games industry over the last few years, the sixth biggest market in the world is now, where £7 billion to the uk economy and that success is largely down to the people in this room who are being recognised tonight. you want to know what this story is really about, huh? it takes two — a fairy—tale puzzle game about family break—up. what we are trying to say, darling, is that we have decided _ to go our separate ways. nominated for eight of the famous golden masks, the title has brought cooperative, rather than competi

also joining us, michael mckee. economic conditions you are watching most closely right now, what is top of mind? >> i think the clashing forces between how inflation is working its way through the economy whether you're talking about earnings season or delivery times, i am looking at that and the crossover between that and slowing economic growth. we have seen job postings peak on indeed.com. we are seeing signs of slowing in the housing market and auto sectors. for me it's always fun to try and see which federal reserve district wrote the beige book how hawkish or dovish stilts because of which district is the author that there is an argument to be made that i might need to get out more. >> we all need to get out more these days. one thing i wanted to set up for with this is a chart that shows where we are right now. the federal reserve, the target rate effectively is about 33 basis points. you add another 50 basis point move. it shows you where we will probably be at the end of the may 4 meeting and then another

the children's author and illustrator, david mckee has died at the age of 87 following a short illnessillion books and the bowler hat—wearing mr benn. mr mckee's publisher said they hoped his spirit would live on for many more generations through his stories. the man accused of killing the mp sir david amess has told the old bailey he wanted to send a message to all politicians who had voted to bomb the islamic state group. the trial of ali harbi ali has resumed after it was suspended for nearly two weeks due to covid. the 26—year—old from north london denies one count of murder and one of preparing acts of terrorism. our home affairs correspondent dominic casciani joins us. what more has happened in court? well, we heard for the first time from ali harbi ali, this 26—year—old from ali harbi ali, this 26—year—old from north london today and in court he said he had no shame for killing sir david amess in october of last year and said sir david amess in october of last yearand said he sir david amess in october of last year and said he had basically done it as a response to a 2014 vote i

for more, michael mckee joins us now.y know that the moon next week is going to be 50 basis points. the marking uprising in basically a chance at a 75 basis point move in june. are we likely to hear anything about that? mike: i don't think so. jay powell probably will ask about it but they will at the data drive their thinking. here's an interesting thing, what i call the evans index, charlie evans, the chicago fed bank president, started april by saying we only needed to do 25 basis points at every move. april 11, he said maybe we do a 50. now he is up to 200 for -- two 50's and then we do 25. let's see where charlie goes after the fomc meeting in the latest data we get. two days after that we get the jobs numbers. guy: the markets are kind of 190 in terms of the rate hikes we have over the next year, so we're basically looking at 50, 50, 50, 50. is that you think overdoing it? do you think that is a daily to -- danger to kailey's point where we can see extra hiking in prices? if we wanted to be even more hawkish, what w

with some economic data in america, here's mike mckee.el: general goods orders for the month rise zero -- durable goods orders for the month rise 0.8%, not bad. ex-transportation, up 1.1%. it looks like the overall transportation numbers were down a little bit, but that is heavily influenced by boeing. capital goods orders, nondefense ex-aircraft, up 1%. breaks a string of negative months. last month, down -0.2%. it is double what was expected. the analysts thought we would get a 0.5% increase. the fed is trying to gauge consumer demand, and this is an early indicator of where we might be with that. you noticed yesterday whirlpool in their earnings came out and said consumer demand is waning even though people are still buying more appliances than they did before the pandemic began. i just want to to check that here. consumer new orders for appliances and components up 3.9% in march. so still some strength out there , and that suggests there is still some strength in the economy for the fed. tom: do you know q2 gdp right now? any sense of

diane is 21 and the group was mckee bomb maker. here are used to target police stations and destroy military infrastructure. min an laing controls a powerful army stop he is vowing to crush the defence forces. his forces are bombing villages and carrying out brittle raids. —— brutal raids. the military are relying on the m. now mahura has been told one is living nearby. she prepares her team to raid the house. they say they have already sent a number of warning letters. they find a house empty. after completing his training, he is on his first mission against the myanmar military. his unit is ambushing a remote military outpost. the raid has taken the military forces by surprise. they are not in uniform. the unit takes five soldiers captive. during the battle his friend was badly injured. it's been six months since she's her boys. he too is longing for loved ones. it has been eight months since he left home. two months after losing his friend, he is being sent back into battle. hello again. it was southern areas of both england and

for that, michael mckee. thank you for joining us.alk to us about this breaking news in terms of charles as a set to retire. what does this mean when it comes to the fed and their thinking? >> the chicago fed president turns 65 next year and is required by the fed to retire. he officially announced it today. this is no surprise. he has been one of the more dovish members of the committee in recent years. it will be interesting to see, when they get a replacement, how that person will line up given the situation with inflation. kriti: a lot of hawkish commentary coming out of the fed. three, half-point set -- rate hikes. getting our mind around 150 point basics -- basis hikes. >> it will be interesting to see if jay powell anything about that. you can see on the chart, the white line is the may meeting. they have two moves price didn't, which means the 50 basis point. the blue line is july. that is six moves. that means three in a row, 50 basis points. we get up to 10 for the end of the year. markets are buying what the fed is selling.

oh, you're so assuming i'm a little shocked by mckee, comstock avenue, wasn't pushy particularly brooks let in the for got the rest. look in the 3rd or say of who go crazy, get another scare me will show a move awesome. in the position there was to shift from you soon and as always to just for 0 scripting to keep device current. now they're looking because lawsuit, whatever with the machine is hi. this is to legit with sheena store barbara laboratories. pataki for the ocean for blue g major claims. he finished demarco upshar through name empty board for more than 7 years. he has traveled, roads that are constantly shelled, to deliver essential supplies to grey's own residence, brand water medicine and fuel generators. i've got to deal with my own when you're back with a, with, with the quality of the year in the storage unit in order to pursue the ministry, the personal health by native jewish, ashton disease, visual coming upstairs with monica, completely bluetooth. almost all due of course, was about call will be will, i will be, will don't do. as i said, you do it, i live and you. so

. >> mike mckee is usually having a conversation with policymakers. let's get some market perspective on this. reynard was super hawkish. the whole conversation today is more about what is happening and the impact that will have. nevertheless, very hawkish message. are the minutes going to be any more hawkish or is that cat already out of the bag? >> we pretty much know what the fed is wanting to do in terms of rate. we have an idea of the speed at which they want to do it. how much per month rolls off and how much is reinvested? we will not get an answer on how far they will go, but we might get an answer to some technical questions that could lead to adjustments. >> let's talk about the technicals of the bond market as well. what we have seen is that you are seeing more movement not at the front and, but more induration, the 10 year. is that people -- to be believed? >> ultimately, we are going to invert. what you are seeing today and what you saw yesterday was some position unwind. a big thing that we have to remember, gaia keep -- keeps mentioning

john williams to talk with michael mckee in a number of days, but the answer is that we are coming off such a low base that even lyle brainerd does not know where restriction clicks in and that is a huge part of the debate. jonathon: we have seen some big move so let us whip through the price action. s&p 500, futures lower down 56 -- .5%. on the nasdaq down .8%. yields higher on the 10-year. seven or eight basis points, to 6238. the dollar has been surging. the dollar index, very close to a 100 handle. lisa: how much is it basically pricing in it, the fastest pace going back to 1994 which is what we are seeing currently. 10:00 a.m. we listen to janet yellen testifying to a house subcommittee. how has her language shifted? and how has the overall language a policy makers from the u.s. to europe shifted in terms of the economic fallout as deutsche bank projects a potential recession in the united states? janet yellen saying that this will have enormous economic repercussions for the world and perhaps we will see insight to what she sees that meaning for the u.s. economy. i know that you

reports on inflation in two hours, michael mckee. coming up on ukraine, julie norman of ucl. bloomberg. ♪ ritika: with the first word news, i'm ritika gupta. march may turn out to be the high water mark for inflation. cbi expecting to share prices rising 4.8% from a year ago, the fastest since 1982. higher energy costs in the wake of russia's invasion of ukraine. we will get the inflation number at 8:30 a.m. new york time. india plans to boost exports to russia by $2 billion in the wake of sanctions. they are working out a payment system on the products india would shift -- chip to russia. -- warns a quarter mark a quarter million more people will face poverty this year, due to the impact of the coronavirus and soaring prices. more than 368 million dollar people will be below the $1.98 line by the end of 2022. president biden restricting ghost guns, crackdown on purchases for people who assemble guns from kits. honda plans to spend $40 billion on its push into big oil. events second biggest automaker so some 30 ev market -- ev models will be -- and will phase out gasoline pow

mike mckee, take us through it.: we know companies are trying to hire and they are not letting people go. 166,000 is the number after 202,000 last time. the previous week was revised down to 171,000. everybody hold onto your hats. the labor department has also changed, revised the seasonal adjustment factors the last years back to 2017 and that may be part of the reason we are seeing these numbers. it is too complicated for me to say off the top of my head because the changes take up a page in the release. i have to go through that and you all can go through that. it does suggest we are seeing a tight labor market. one thing i want to mention, die brought along a chart. for those of you on radio this is easy to look at. the total number of people getting jobless claims and initial jobless claims through the recession. one thing we could look at his jobless claims that telus things are getting a little too tight when the fed starts raising rates. the problem is these are coincident indicators. they start going up as

major general, how was she mckee, yoshi, with objects personalities around 60 percent with chinese. around 30 and russia. and a few koreans and mongolians. they were referred to as my router, which means logs in japanese till i onto muslin and stuck them all day. and all of that, you know, you know, more general, martha, this is meant new against them or not. but the one i got the most that she missed it was an intern at the unit like other teenagers, he was sent there to work and study journal aside and put all of them on all party bill. you can count nice little to do you want this on this? the wow. she my a new on it. all site is an all on all simone. good. so you don't the, you know a lot on or put them out the think about i got the wall so that all most law. oh oh because it's a couple of motors. sho, get pushed up. so when i hit oh nope, i could not put the la jolla, but she knew i'm sure you did 2 people there even lower than livestock breached shadow issue, the audiologist and mastermind behind everything that happened in the desk with the chinese population of rats. these w

economics yesterday, inflation, michael mckee has a different series this morning.ike: inflation is still with us. ppi for mark showing a stronger-than-expected gain of 1.4% on the month. the forecast was for a 1.1% gain. last month it was up 0.9%, higher than the initial result. on a year-over-year basis, ppi for final demand comes in unchanged. tom: no idea what that number means. mike: take out food and energy, the core rate is up 9.2% on the year, much stronger than the 8.4% last month. the other thing to look at, the index for goods versus services, index for final demand goods up to .3% in march, services up 9%. goods in the cpi declined in march, as services rose. but that is not the case in the pipeline. tom: ppi, you and i are old enough to remember when this was a huge deal. is it a huge deal again? mike: no. it basically contributes to the ongoing believe that we are in an inflationary cycle. yesterday, tom barkan strengthen his view, saying we should move quickly to neutral, joining the jim bullard camp. tom: what have you learned about the duration of t

kailey: michael mckee in washington, d.c., thank you. let's get more insight into those jobs numbers. we are joined by bank of america security global economist. your take on the numbers today? aditya: i think this is another jobs report that checks all the boxes. the labor market is white-hot. 500 is the new 200. we did add 500,000 nonfarm payrolls. wages are strong. the unemployment rate fell by 0.2, which is quite remarkable. something that does not get talk about very often is the fact that participation across the economy is slightly overshooting where it would be given long-term demographic trends. we have some ways to go to catch up on prime age labor force participation. which suggests some of the distortions we saw during the pandemic, retirement, people leaving the labor force, all of that has normalized. that is encouraging. guy: if you had the inflation data out of the u.s., if you had the labor market data out of the u.s., but you did not know where fed funds were, where would you think they should be? aditya: we have been o

kriti: bloomberg's michael mckee , erik nelson, thank you both for your time. still ahead, caterpillar warning, weaker demand from china as lockdowns continue. the stock lowers even as we remain at session highs the s&p 500. that conversation next. this is bloomberg. kriti: this is "bloomberg markets." now to something that caught my eye. one of the biggest on the s&p 500 as it hovers near session highs is caterpillar shares after it missed their earnings on weaker demand. this is a major issue as we talk about the chinese property sector and what kind of ripple effects it has to a construction equipment maker like caterpillar. the cfo is anticipating global demand to overcome those chinese headwinds saying, "the good news is demand is so strong elsewhere that any impact that china enables us will allow us to supply other customers around the world." despite the weakness of china, some very strong words coming from the caterpillar cfo. this is something we heard from going into amazon earnings. just because you have one weaker region, the other businesses can o

esther george spoke exclusively with mike mckee about the problems sheet and the path of raising rates. >> 50 basis points is going to be an option we will have to consider along with other things. i am focused on how the balance sheet moves in conjunction with policy rate increases. >> let us talk about the fed saying that the balance sheet is to shrink more rapidly than in the revis recovery with significantly larger caps and a n increase in maximum caps. >> we do compare this cycle to where we were the last time, we were reducing the balance sheet. we did not go very far because of the needful reserves and the decision around that. -- need for reserves and the decision around that. i think it argues for going faster and moving along at a quicker pace than we did before. we have a ways to cope to get the accommodation out of the economy. i think we are still talking about what the right approach would be relative to last time. we are doing that in the context of looking at the size of the balance sheet and the condition in the economy. that would likely warrant doing more and going f

we located that vehicle later at mckee and white road and arrested the driver. >> officers arrested guzman and several others and issued 40 citations. three cars were towed. >>> friends sitting down to talk doesn't usually sell out a lecture hall, but today that's exactly what happened. barbara boxer spoke with speaker of the house nancy pelosi. and the speaker spoke out about the attack on the capitol. >> there's still blood and glass on the floor. and we're coming back. they said you could do it here. i said no. the world has to see that the capitol is operational and we are engaged in the peaceful transfer of power. >>> up next, before lighting up, there are new rules that you need to know about, about san francisco's 4/20 celebration. what the city is demanding you do when we back >>> i'm chief meteorologist jeff ranieri. you can see storm ranger scan at san bruno mountain. and i'm back in about eight minutes. this is elodia. she's a recording artist. 1 of 10 million people that comcast has connected to affordable internet in the last 10 years. and this is emmanuel, a future recording

here is missouri state representative ian mckee calling out a republican cruelty.drawing on his own experience growing up gay among conservatives. >> i was afraid of people like you growing up, and i grew up in hickory county missouri. a group in a school district that vote tomorrow to put this in place. and for 18 years i walked around with nice people like you who take me to ball games, who told me how smart i was, and they want to the ballot and voted for crap like this. and i couldn't wait to get all. i couldn't wait to move to a part of our state that would reject this stuff in a minute. i couldn't wait. and thank god i made it. i got i made it out, and i think every day of the kids who are still there who haven't made it out. who haven't escaped from this kind of bigotry. gentlemen, i'm not afraid of you anymore. because you're gonna ruse. you may win this today, but you're gonna lose. >> now, meet the next democrat who's answered the call to fight back. earlier this month, republicans in alabama push through a law that would criminalize gender affirming medi

we located that vehicle later at mckee and white road.arrested the driver for two counts of assault with a deadly weapon a police officer and felony hit-and-run and a firearms charge. >> they issued 40 citations and three cars were towed. >>> good news now. an update from the bay area paralympian whose gold medals were stolen. jin lee grew up in daley city and now lives in texas. he won gold medals in the last three olympics. on saturday, his car's camera caught this. someone breaking into his car, stealing a backpack with those gold medals inside. he was going to take it to show his family and friends the san antonio police say the backpack turned up later that night in a movie theater parking lot. the medals were dropped off yesterday at a fire station. no arrests have been made, but he got those golds back. >> thank you very much. >>> and san francisco, back here in the bay area. time traveled back to 1906 today. you see mayor breed there, to mark the 116th anniversary of the earthquake and fire. the natural disaster was a defining mom

remember bonnie mckee, i live people group, they speak to vulnerabilities, they speak to a sense of identities and development. they speak to them in connecting it with the realities of discrimination that they're going through. mm hm. mm hm. oh, i do. i think there are a lot of issues completed here so, so the 1st is this idea that you know, the muslim community is being spied on. frankly, most of these cases that we've seen, the court cases have been young muslim. and whether we like it or not, they are the majority of people who are being attracted to these narratives that are coming out many with dispute. that may be, but i'm just telling you what, what i seen in the research that around of over 300 court cases. the majority of them have been very young and they've been male and they've tended to work in network. so they all tended to know each other as well. today, a young muslim male around the world, particularly in europe, in north america, feels a certain stigmatization. this is a fact. we've had conversations with educators addressing that and feeling that that's precisely the trigge

so bob, boss, me, belizean mckee, cook, cut out could em corn gown nicholas bureau was a dial. it should go to sleep. dollars if was distant. now come keep on the seat. anything else going to keep it, the waterways is. get a reward. should it any? broadly opposed to gentlemen, i cilia scheduled great to hear your voice at the bull summer. stop my player williams, yoko bruce see, given that wilma to the yellow will try to swing the swisher quarter from where she will cream will be said, she's a journalist coming to the homes up a postal wolf give credit for the usa. i the forest. and brian to 5 congress of girls the world when ga, ga, alone before the conflict in ukraine, a long before this thought a, we are about a 40 years. i have a, an investigative about information and documents originating from the us government database. i have collected documents from yes, federal contracts, very grueling. that the a wanted dr. american companies more than $18000000.00 for biological research inside banker by the board in ukraine. also i published documents proving that the u. s. governm

smith's kid returning quarterback tanner mckee finds ej smith on the slant for the touchdown smith had two touchdowns on the first team offense took on the first team defense. got football spring game is at the end of the month and the nfl draft is also in the month right here on abc 7. we'll be right ba ok, floor and decor, show me what you've got. this tile says "spa day, all day." but this modern look is so me. how's that for on-trend and on-budget? at floor and decor, with our high-quality selection at everyday low prices, your upgrade has never been more "you." explore floor and decor today! and now most admired alum! get up there. this is so embarrassing. there's no way it's me. you know her.... you love her.... ruh roh. what are you doing here? it's anna gomez! who? our first gigillionaire! with at&t fiber, anna's got the fastest internet with hyper-gig speeds. i didn't know you went to this school. we have a lot in common. live like a gigillionaire with at&t fiber. now with speeds up to 5-gigs. limited availability. i'm 53, but in my mind i'm still 35. that's why i take osteo b

so bob, boss, me, belizean mckee, cook caught up, couldn't corn go, it was a dial, it chilled. can you sleep dollars if was decent. now, complete on the seating, it's like, i'm going to keep it all to raise is better. we want to do to me. but i li, i was getting over. i cilia scheduled place to you, be watching at the bull summer, much w player williams out there. but us see, given that war materiel or chicken dish, when the school district court on the, she will claim will be said, she's a, you're not currently see the rooms up, a postal wolf give credit for the usa. i was a girl, the world in 2018. i long before the conflict in ukraine, along for a year, i investigated a lot of information dr. originating from the us government database. i have collected documents from a grueling that the bank a warranted. right. american companies. my $80000000.00 for biological research activity inside banker by the interest in ukraine now. so i published document proving that the u. s. government conducted biological experiments on allied soldiers in georgia and you prayed 1000 your soldie

we get the kansas city fed president today joining michael mckee at 10:10 a.m.. we have tons of fed speak in my question is how much will they take a look at a labor market and how tight it is and say perhaps we haven't moved quickly enough. you are seeing real yields move closer to zero but there -- but they are still negative and why is that? we get u.s. march ism services and how much are we seeing this fuel the drop in the unemployment rate? people are waiting for the services sector to pick up. jonathan: thank you. looking forward to the data and the fed minutes are coming up tomorrow. team coverage on ukraine starts right now. talk to me about the proposal from the last 10 minutes. maria: you know that once you put something on paper, you do it because you are sure it will go through. the fact that there is now a proposal to ban russian coal from being imported into the european union, that says that when the european ambassadors meet in brussels, they will approve it. also the fact that the european union is now considering shutting access to ports and shi

jessica mosher, new movie said gola or marcia leaving mckee po, served on his elbows on the home. don't get. oh no jail, no good deed you play longer. she have a stella barza do torn. i should not of the lily be as young law shall certainly place g, clearly no veil and is actually gave them more money have a year ago miss your did their last your hunger with jimmy's amore, the murphy list, so i did halter sure me know francois salt lake city come in and crazily bibi to monocle mil partial up la boca masa, sir, nit ashy our number, our muscle serv. if apple corner don't go out for my life, go merrily. sancho did maitland in gammas, and the blip over and if she didn't, man, i silly. now shifted up. be nic and many good saga captain america . oh, she spoke of was i really gum. m a composite, it should my mom kiera, centennial farm good. have gone that me. mm mm. jesse to seal. ha ha, ha ha. my desantos yoga my she c low, low regina. there's a melody doorways in the san d. c. m. m. c. shameed result was offered. the seller disaster did a map of jackie. hi, a song, caydan da da, domini

busy mckee, your max offices, the spokesman full authority of prisons. lensky senior advisor. he says, leadership is the burden you take up voluntarily when the rest are dodging. truly, it is a never many. i think it's great ukraine that has true friends amongst them. like boris johnson who's been to key today since the very beginning of the russia aggression zalinski has been in touch with him. i regularly communicate with the security advisers, steven lovegrove and david group. horry, thanks. maurice johnson for decisive starts with helping ukraine and it's time of up most need. and then for i was told to replies and he says. busy i mean, keep as a show of unwavering support, to, for the people of ukraine were setting out new package of financial military aid, which is a testament of a commitment to this country struggle against russia's barbaric campaigns. a very glowing words off to the meeting. devoris johnson does have an issue that the russians have huge amounts of investments, not just in the city of london, not just in london itself, but across the u. k. the sanctions

miss mckee, knoxville is curing the boy we lived in hiding in this, but every now and then we went out to play in front of the building. mcallister house today. i'll let him out. i had an old car and some bikes. repent, wheels is clean. we couldn't even ride the mutiny a similar to was the rule we basically played without toys hid it. we simply had nothing. i had of stuff from him. i'll publish time put oh, that was his 1st time. have osteo came off to the wars lee took. he brought me a whole album and i saw these pictures and 1st title album magic that was like come then the tears came over to me. my mother insisted to move um it is that some black . it was so strange to see these photos and cackle. they stood up a lot of emotions and nazi taught us was a, that much more, as i said, you could almost say that we were born together. and i study, and i was a year older than amar, and on darma was the youngest. as long as our mom was alive, sylvia g, we were all connected for bailey lecoq. he was the one who held us together. kiwis mentioned her now that he's not here. everything's differ

rounded married guys to for a martin, just going knows, you know, a movie said gola or marsha, leavin mckee po sir, felt his influence on the home don't get on our maggio, nobody to play longer. she if i say a lab as it is torn as you are not of the libya has your thou shall said because she clearly novelle, and is actually gave them more money have a year that will miss your day. the last you latasha with a jimmy's or more the murphy list, so i did halter sure me. no saw some trick city come in and crazily bibi to monocle, may no partial a flap or commerce, assert, myth, ashy or level, or morsel of if apple gra, don't get well my live go. maryland we saga, remain in gammas and the blue book alisha didn't match. i still a nice shift to like be nic and many good. so go and get on the gut. oh, sure speck of was, i really gum am. i can cancel it. should my mom kiera centennial farm? good. have gone dabney? ah, yes she to. so to her portia moody is ansuka my. she she learn lower. gina, there is a melody doorway. she into sandy c m m. c. shameed result was offered. the seller disaster did in my

michael mckee had this to say.n payments for energy making up the forex reserves, things are still bad but it's a joint loophole that keeps russia afloat. he says they can cut rates because there is no currency fight with capital control. they are holding money in the country. tom: it's dead on a ghost of yesterday about the possible trinity. whether it's yield curve control and russia controls matter. they have an immediate effect. jonathan: china is quiet over the weekend. tom: we saw that. this is the joy is to provide clarity on when you change the rules of what you do. ellen wald is a senior fellow and has a wonderful book on the fabric of the royal in saudi arabia. it's real simple, can an embargo work on oil against russia? >> i don't think in this case an embargo can work on oil against russia because are so many different points that russia is able to export oil. you've got multiple ports. you've got pipelines and ports they share with other countries like kazakhstan. that would be hard to battle. what we

miss barnett mckee now to be live during the boy. we lived in hiding in the summer, but every now and then we went out to play in front of the building. nicholas to that house today. i'll let him out. i had an old car and some bikes. repent wheels is clean, and we couldn't even ride them. isn't he a similar to it was the law we basically played without toys. did he simply had nothing. i had a task home email tag. mr. drawer. that was your 1st time. have osteo came off to the whartley talk, he brought me a whole album and i saw these pictures and 1st title album, when actually that was like come then the tears came over to me. my mother insisted to be mobile. i'm it is that some black, it was so strange to see these photos kapco. i stood up a lot of emotions and nazi taught us was it or no money? as i said, you could almost say that we were born together than i study. and i was a year older than amar and harlan darma was the youngest. as long as our mom was alive, sylvia g, we were all connected for billy lecoq. he was the one who hel

jessica knows, you know, on movie said gola oh marsha lagoon. mckee po served on his elbows on the home. don't get on our maggio. nobody to play longer. she have a stella bars the horn as you are not in the libya house you there shall said chris g clearly no vale and is actually gave them more money have a year that will miss your day. dollars yard. ha. with asia mizo more the my feel is so i did halter sure me, no saw salt lake city come in and crazily bibi to monocle may no partial a flap or commerce's, nit ashy or level or morsel who have if apple core don't go out where my live go, my literally song, remain in gammas and the blip over alisha didn't mom i silly now shifted like be nic and many good. so go and get on the gut. oh, sure speck of was, i really gum am. i can cancel it. should my mom kiera centennial farm? good have gone that me? ah, jesse 20 to ha, ha, ha. moody's onto so good much as you learn lo, regina, there's a melody dog, asian de sante. c. m, m. c. shameed result was offered. the seller disaster did a map of jackie. hi song, caydan da da, dominic in seattle porsche

williams in conversation with mike mckee, the suggestion is a strong push on 50 basis points.ave got an upside move at 12 basis points now, 2.4, and you are seeing that across a lot of markets. brent crude is down. a quick look at the breakdown and composition of the markets. everything positive. trading at 10772. a quick look at the breakdown of the market today. broadly, everything is positive. travel and leisure has been the standout story. the central eastern european out with strong guidance today, upping guidance. that helped. let's talk individual stocks. very positive. the real struggle at the moment that a lot of airlines have is capacity, not demand. erickson, down by over 5%. earnings today are a little bit -- the commentary today is not exactly positive. the concerns around fines is manifesting. erickson down by 5%. caixabank is interesting. jp morgan put out a note a few days ago, where they talked about how hawkish the ecb gets it is better for spanish banks. it was down more earlier on. it is interesting to see his relationship with peripheral banks and a ecb wi

it is a tuesday of extraordinary inflation, that report in 90 minutes, michael mckee leading the coveragen the agony of a nation with inflation. it permeates every aspect of our economics. lisa: a complicated issue, because you talk about the pain and it is painful for the individuals but the dynamism of corporate america with bank earnings with j.p. morgan, how much does this dissonance yield something close to a downturn versus a tale of two parts, the haves and have-nots? tom: the have-nots not doing well with the global and american recession. the world trade organization gets out front of imf world bank -- lisa and i will be in washington in a few days -- and the gauging of recession worldwide is a big deal. wto doesn't call for recession but with every bit of work i've ever done, 2.8% global gdp by every measurement i've ever heard models global recession. lisa: you look at how big the downward revision is, 4.1% to 2.8%. we've seen these types of revisions downward to global growth that have been increasingly severe. at what point do we admit we don't know what's going on? how do yo

and michael mckee, thank you very much as well. coming up, planes, trains, and automobiles. these public transit no longer require masks. yes, you can take them off. we will have more next. this is bloomberg. ♪ kailey: welcome back to the program. anna: americans no longer have to wear masks on most forms of mass transit. many have ditched mandatory face coverings after a federal judge's ruling. i will bring in sam from bloomberg. we talked about charter fees and different things for different reasons. we talk about the end of federal mask mandates. ethical be left more to individuals. i suppose i'm talking about the united states, specifically, certainly not asia or europe. >> we already did that in the u.k. most of the transport, you are advised to wear one, so i'm not surprised that is where it is going. the people want to leave the pandemic behind them. but should they do it, even though they are told that you can do it? today, on my way to an from the airport, i wear a mask. i don't want to catch it. why would i put myself in that position? kailey: even though will wish

hear more from the united kingdom on that front stop the kansas city fed president is joining michael mckee at about 10 a.m. and other fed speakers, lots of them. do they discuss this concern that people have that perhaps the fed is behind the curve. you -- real yields are rising but they are perhaps the least negative going back a long ways. at the same time, they are still negative. at 10 a.m., we get ism data. how much will that make up for the slow down we are seeing in industrials and you are seeing the unemployment rate fall the most since before the pandemic. tom: we are so far away from potentially restrictive, miles away from a restrictive policy. we are living ineffectual time -- a fictional time. the taylor rule gap is something no one has ever theorized. jonathan: you don't like the parlor game but you laid out the citigroup argument. tom: i have sent in john taylor's parlor in palo alto and i have said it's very elegant in the taylor rule dominates. jonathan: thank you. tom: and he serves pie. jonathan: let's get real about sanctions. a proposal to do something about coal, can

also on set, michael mckee. let's start with you on the data, that employment cost index from earlier, what is the signal? mike: we are still seeing wages rise, employment cost one up at the highest rate in history. wages went up the fastest sense 2001. that doesn't mean necessarily that the trend is going to continue because the pce data showed wage growth at least slowing somewhat. the issue you ask about, which is a better indicator, i have two thoughts. the first one is in terms of what people say and what they do. alan greenspan said let's look at what people do, not what they say. you can see the white line is what people say is a good time to buy durable goods. it's a terrible time according to the michigan index. look at the blue line, that is the spending they actually do. they spend more even though they say they are down. guy: the u.s. consumer is at the center of the economy. we've seen companies talking about the consumer this week. what you getting from the earnings picture after the lack of health

. >> i am michael mckee, we have the fed minutes and we have details on the fed's outlook for the balanceeduction and on faces basic -- 50 basis point moves in the future. they anticipate starting balance sheet reductions as early as the fed's meeting in may. monthly treasury caps, they look at a range of scenarios and decided that $60 billion would be a good cap for the

tom: mike mckee told me to follow that one. one that matters, and there is some nuance you can do with it, but includes wages and benefits. i would say although we have seen real estate in new york, no one cares about the eci. jonathan: it is all about the eci and nothing to do with the renomination german powell was getting at all. tom: haven't seen "caddy shack," geez. >> was had two years of helicopter money, but now we are paying the price with higher inflation. >> at some point the anxiety around the fed will lead to a greater scare of recession. >> it could be worse if the fed moves as fast as it is telegraphing. >> the question you should ask yourself is where can i find safety in the world. >> this is "bloomberg surveillance" with tom keene, jonathan ferro, and lisa abramowicz. tom: good morning, everyone. an historic day

let's get to mike mckee for more.hael: this week council little bit more than mothers -- than others because it is the week in which the payroll report was taken. a decrease of 2000 from the revised level of 186,000. it does show the labor market remains extremely tight. the other thing we are watching is the philadelphia fed. their business outlook at 17.6. the prior number was 27.4. that is lower than we had anticipated. then the market had anticipated. waiting for the prices paid number. that will be the think wall street cares about because we are all on inflation watch. in terms of the employment situation, it remains good. jonathan: 184,000, fantastic number. a fresh eye of the year on the front end of the treasury curve. the two year at 2.63. the nasdaq up, the s&p up .8%. the earnings have been decent as well. tesla yesterday, american airlines earlier. tom: pretty decent captures it. i like your idea of the lumpiness of the market. how many know the s&p 500 with dividends up 9%, i did not know that. jonathan:

and now i love them. jeffery mckee, this is the oldest mosque in mosul. did the damage has to be working? it shows how merciless fighting was in the old city. they fought in every place imaginable. oil a dog? no, no, not a 100 multiple. yeah. when we ask residents about the possible return, i'm islamic state family zone on the look which they all cry no way. we're in because of them. i lost my brother. i'm on my son, my nephews to look on the market on yahoo! yahoo, yahoo, nakeila, hogan, aquila, and the sure which i saw it with my own eyes you will follow. they called their children the lion cups of the caliphate, little fellow, and have them throw stones on the corpses after executions. could you say a little hung? only lewalma lives just the most children who witnessed that wish of a who saw has executions with their own eyes, merciless, all who carry that inside them forever under the moonless, lovable, feasible. ah, ah! since the city was recaptured, security forces have relentlessly pursued these so called lion cups of the caliphate. gods, potential