they couldn't clinch it to the world and billionaires jeff pays as bill gays and michael bloomberg are getting called out online after it was revealed that they are pouring millions of dollars into the hunt for precious metals in greenland. r t. john, heidi has the details on what they're looking for and why greenland, here comes the money billionaires, bill gates, jeff bezos and former new york city mayor michael bloomberg. among others went to drill through greenland thick ice to find raw materials to power. a new generation of electric cars, co bold metals, a mineral exploration company, backed by break through energy, which is funded by gates bays as bloomberg and other prominent billionaires, including investment banker, ray dalio, and virgin galactic richard. branson has entered into a joint venture with the london base mining company, blue j mining to mine, greenland for raw material such as nichol, copper and platinum. as the company writes on its web page, cobalt metals is a mineral exploration company that uses machine learning and other scientific computing techniques to inc

the warning labels were shelf i say method had been used in new york city when mayor michael bloomberg suggested a law limiting the size of jumbo soda, sold and restaurant the bloomberg was marked as a scolding nanny. and the court ruled in the industries favor ah, in this face off between corporate freedom and consumer protection. freedom once again seemed to be the private property of the most powerful. i represent a part of san francisco that was immigrate people, people who speak english as a 2nd language, people who live in subsidized housing, public housing, tenements. and the one thing that we all had in common was that we were dying from preventable diseases dying. and you know, that was just really hard to accept and seem like people didn't care, the industry didn't care, they continue to target their money and resources to get people addicted so that they become wealthier. so what brings me to this entire conversation is that i don't want to wear people to die. and if it means changing policy, changing, educating people for the they are aware of the choices that they have and

jeff basil san michael bloomberg. i'll going hunting and drilling some minerals on the atlantic island. in fact, so far they fucked out a cool. $15000000.00 on it. and since greenland got one of the biggest unpack deposits of rush not to refill says they'll probably strike rich, especially if they land what they really want. nickel and cobalt. the main ingredients, the batteries, the power electric cause, you know, the ones that been ingest, say you should splash out on to save the planet. the thing is going green as clean as they say. and typical electric car require 6 times the mineral input of a conventional car. and an on shore wind planned requires 9 times more mineral resources in a gas fired power plant. on top of that globally, they'll be over demand unstable supply chains and even increased child labor, as they rely on materials mind in states that employ minors and mother. nature might take a beating to create to potentially some environmentally or ecological dangerous situations where the contamination of t

a quick note -- the school is supported by michael bloomberg, the founder of bloomberg lp and the ownerthis broadcaster. this is bloomberg. ♪ it's moving day. and while her friends are doing the heavy lifting, jess is busy moving her xfinity internet and tv services. it only takes about a minute. wait, a minute? but what have you been doing for the last two hours? ...delegating? oh, good one. move your xfinity services without breaking a sweat. xfinity makes moving easy. go online to transfer your services in about a minute. get started today. comcast nbcuniversal is investing in entrepreneurs to bring what's next for sports technology to athletes, teams, and fans. that's why we created the sportstech accelerator, to invest in and develop the next generation of technology that will change the way we experience sports. we've already invested in entrepreneurs like ane swim, who develops products that provide hair protection so that everyone can enjoy the freedom of swimming. like the athletes competing in tokyo, these entrepreneurs have a fierce work ethic and drive to achieve - to change

the johns hopkins bloomberg school of public health is supported by michael r bloomberg, the founder of blue erg lpn blue erg philanthropies -- bloomberg lp and bloomberg philanthropies. college students are also going back and facing the delicate task of all of these universities trying to update safety protocols. 45% of 18 to 24-year-olds are fully vaccinated. that is a stunning statistic for me. how do you do that when these college kids have more freedom? taylor: the only sort of good anecdote we can bring to the story is the cost of tuition. it has been out of control. in the past, it is usually been that you see huge increases. here we see the cpi in college tuition being more affordable. from some of the stimulus checks, schools have done a good job passing out stimulus to individual students and using more from their endowments and stopping some tuition freezes as they try to share the burden. that has maybe been a bright spot in all of this. caroline: annette was just speaking to inequity within the school system. but also, in the university systems. universities that are in

nobody except michael bloomberg predicted that, former mayor and also a member of this platform. did your world change with the 2020 census? emily: in washington, we already got the big news a few month ago which states were going to be moving in which would be gaining seats. the fact you're seeing california not gain a new seat, lose ac for the first time that texas picked up two, when you look at them abs, some of the state, especially benefiting republicans, particularly because publicans have the upper hand in drawing these maps. that is another thing we are keeping an eye out, which lawmakers will be in trouble in november. tom: to jon's point, the moderates yesterday finally took the high ground with the census and they have a new power versus what they had the middle of this week. is that true? emily: the moderates have shifted their tone. the letter we thing this morning is much stronger in language than previously seen. moderates before said they had concerns and wanted infrastructure. now they are threatening those. the nine who signed this letter, that is enough to sin

she covered mayor de blasio and michael bloomberg as a city hall reporter first at the daily news andat "the wall street journal." she served as reporter at the daily, owned by news corp.. wasr first job in washington dc and began her career as a writer for the michigan daily at the university of michigan ann arbor. so please welcome emma goldberg to the stage. >> hi everybody. i am lucky enough to be a colleague of emma goldberg and a dear friend. i am so proud she is here at the hometown bookstore to talk about her first book with you life on the line i want to dive right in because she is the star. so bear with me this is my first time moderating anything. so apologies in advance. and so excited for you. can you just start by telling us a little bit about the subject matter? your book is among the first to be published anywhere about new york's first wave of covid which is brutal family have a hard time reading about the pandemic especially here in new york city. so why do you think it's important to keep writing and talking about front-line communities and what we saw here in new

she covered mayor bill de blasio michael bloomberg as the city call reported. first at the daily news and then the "washington journal." he served as national feature for the reporter beat and digital publication. in her first stop shows a step at a at the magazine in washington, washington, d.c. she began her career as a columnist and editorial board writer for the michigan daily at the university of michigan in ann arbor. mara gay grew up in brooklyn. without further ado please welcome emma goldberg and mara gay to the stage. >> hi, everybody. again my name is mara gay and i am lucky enough to be a colleague of emma goldberg and also a dear friend. i am so proud that she is here at the strand and her hometown bookstore able to talk about her first book with you, "life on the line." i just want to dive right in because she is the star, and so i hope you will with me. it's actually my first time moderating anything. emma, congratulations. i'm so excited for you. i'm just one if you could just start by telling us a little bit about this subject matter. your book

now we have word, michael bloomberg, jeff bezos, bill gates, have a joint vent you are.of rare earths there. what are your thoughts how this is playing out? what is the implications? >> it is unbelievably hypocritical especially coming from three big people, three big climate crusaders, mining especially rare earths is a very, very dirty and very, very energy insensitive. so i think it is, very strange move for these gentlemen to be going after this industry, especially someplace like greenland that is so pristine. charles: yeah. you know, just kind of tells you how big the whole ev space is going to be. they want a piece of it. listen, with the private jets and big foot prints and carbon footprints. they get away with all of that. someone will write a big script for them and make them seem heroic for all of this. tracy, appreciate it. >> thank you. charles: folks always want to hear from you, whether you have a comment about the show, a question, need financial help from one of my experts, tweet me. cv payne. an important topic term limits, congress, listen i think we n

before coming to the times, mayor bill de blasio and michael bloomberg is a city hall reporter."washington journal". in 2011 -- 2013 to serve as national reporter at the daily publication by news corporation. first stop she was stopped editor in washington d.c. she began her career as a columnist and editorial board daily at the university of michigan. she could open brooklyn. >> i am lucky enough to be a colleague and also a dear friend. able to talk about life on the line and i want to dive in because she is the star. congratulations, i am so excited for you. start by telling us about the subject matter. your book is among the first to be published anywhere first waves in public which is brutal. especially what happened here in new york city, moving toward her marching toward reopening, why do you think it's important to keep writing and talking about front-line communities and what they and we saw here in new york last year? >> i want to say i'm grateful i got to be in conversation covering the new york city primaries coming up, i'm grateful we get to steal her away for a nig

morrow covered mayor bill de blasio and michael bloomberg. first at the daily news and then the washington journal and in 2011 to 2013 he served as national features reporter at the daily and another publication owned by news corporation she was a staff editor at the atlantic magazine in washington and began her career as a columnist and editorial board writer with new university of michigan ann arbor. she is happiest in new york city and the great outdoors. without further ado welcome emma goldberg and mara gay. >> hi everybody. again my name is mara gay and i am lucky enough to be a colleague of emma goldberg and also a dear friend. i'm so proud that she is here at the strand at our hometown bookstore able to talk about her first book with you, life on the line and i want to dive right in because she is a star and i hope you'll bear with me. it's my first monthtime moderating anything . emma, congratulations . i'm so excited for you. i'm just wondering if you could start by telling us a little bit about this subject matter. i mean, your boo

she spoke to bloomberg's michael mckee ahead of the jackson hole symposium. watching the level of inflation has got my attention and the attentions of many households and businesses in my region that have not had to think about inflation for many years in their decision-making. it is not something to ignore. having said that, i do think it is reasonable to assume that what we are seeing right now is coming from the combination of robust demand running up against supply constraints. that is keeping upward pressure on prices. over time, i would expect that to moderate. that is a reasonable assumption to make. that will depend on a variety of other factors. to what extent does risk from the virus affect those supply chains, will they become more persistent, will it begin to build into people's expectations in a way that will cause us to have to rethink that policy accommodation different than we are today. michael: you've always been on the lookout for inflation in one of the first to warn about the possibilities. i wonder if we think he would have time to react

we want to get a deeper dive into that with michael mckee, bloomberg international economics and policyorrespondent. michael: one problem is that the census bureau is having trouble getting this data out at the moment. the only other number we have is a revision to durable goods numbers, up 0.9%. it had been up 0.8%. the rest of the numbers stuck somewhere in a government computer. hopefully those will be out soon. this is a backward looking indicator, so it isn't a major piece of news for either the markets or for the federal reserve area it however, we do have some important news this week that we need to pay attention, and i'm gold to shift gears entirely here. for the first time in five years, the treasury department is going to be scaling act its mammoth quarterly bond sales of notes and bonds. a shift that is so large, it is likely to counter the fed's potential taper. $673 billion in the third quarter, 23 point 2% less than they expected three months ago. the treasury will borrow another $703 billion in the quarter. the numbered revision -- the downward revision is lower than exp

matt: bloomberg's michael mckee walking us through jay powell's speech earlier at the virtual jacksonole symposium. joining us now is someone who used to work for the fed. claudia sahm is the senior fellow at the jain family institute, former federal reserve economist. any surprises from you today from jay powell? claudia: it was exactly the speech we needed, a boring speech. it was very much study as she goes. frankly, markets and analysts thought that this would be the taper unveil, and some had probably priced that in. that was not the speech we got today. he was very clear that we are not due substantial progress on the labor market, and that is key. even though he said we have got it on inflation, but we have a dual mandate. that is what he is sticking with, and that is what the fed should stick with. that is their job from congress. greg: he seemed to go to pains to really lay out the fact that there is a different agenda for rate policy there and there is for the tapering of bond purchases. was that an extra layer of clarity that we did not have before, that he wanted to hammer

alix: michael mckee, bloomberg economics and policy correspondent, joins us now. chael: that is after she had the conference derailed by covid . at this point, talking about the fact that the taper needs to get started. she didn't put a timetable on it. it could be anywhere between now and the end of the year. other fed officials have said they would look to see more data. it will be interesting to see if jay powell embraces that tomorrow. the data we got today, very read because i didn't tell us a lot. the jobless claims numbers went up to 348,000, but you can't even see the movement in the line there. that is probably just noise, not telling us anything about the virus and whether it is affecting the labor market at this point. the payroll numbers that came out yesterday was a revision to second-quarter gdp. doesn't tell us a whole lot, but we go up by 0.1% to 0.6% mode is really good growth. the only new information is this corporate profits. it is obviously important if you are investing in equities. corporate profits, the white lines here are at an all-time re

of michael bloomberg. jackie: i hear you. and certainly the city was much safer then.ty that i love, i remember, walking around and feeling safe at that time. part of the problem with the defund the police movement however has been the fact that the police themselves don't want to be a part of this anymore because to a certain extent they have been attacked. sew what we've seen is people going into early retirement and people not wanting to join the force. now all of a sudden there is a cry to find money to hire police officers but there is a shortage of people who want to fill the role. >> absolutely. i mean if you were a police officer, jackie, and first and foremost you're putting your life on the line, something that guardian angels know fully and we accept it as civilians but then not only are you expected to uphold the law and maintain some kind of decorum but in the back of your mind, oh, if i make the wrong move i'm going to get sued. there is no longer immunity for police. way before the defund the police if you remember our fine men and women in blue were tur

neil: you know, republican mayors in the past -- michael bloomberg, of course, switched parties to runten than not, it's an overwhelmingly democratic place. we do remember a former mayor, george pataki, who defeated a democratic lion, mario cuomo, this governor's father. so it does happen now and then. but the odds are against you. so people hearing the odds, curtis, hearing you now, how do you tell them that you can buck those odds? because the math doesn't look great. >> well, it's clearly there's no doubt about it you're talking about david versus goliath in a political sense. but, neil, as the republican nominee, i'm also running on an independent party line. that's what guaranteed bloomberg victory for three terms. he didn't win it with republican votes alone. he had to have an independents party line. i've already secured that. and most importantly, more than any oh republican -- as much as i supported bloomberg, as much as i supported rudy and they did a great job, we didn't have these problems in 20 years of republican leadership -- i can go into neighborhoods because of my bac

alix: thank you very much, bloomberg's michael mckee. the s&p retreating after finishing the 48th record since the end of 2020. ritika: kara murphy kara murphy -- --kara murphy will be joining us next. this is bloomberg. ♪ alix: u.n. security council started emergency session on afghanistan. you are looking at the secretary general speaking. he is calling on the taliban to exercise restraint. afghan females need to remain and we must act together and use all tools at our disposal. the question mark is what western countries can do. the story of the markets, we look forward to jay powell and sell retail earnings as well paired abigail doolittle has the details. abigail: starting out with jay powell. fed chair jay powell hosting a town hall for educators. some investors and traders looking for clues on will there be talks about tapering. if you look at this chart of the fed's balance sheet, are the pandemic crisis and into present day, $8.3 trillion, a steep uptrend and then a slow uptrend. very likely -- very unlikely that trend will be br

bloomberg's michael mckee joining us.omorrow, we've got earnings from home depot and walmart. guy: tune in later today. we're not done with the afghanistan story. we are focused on the fact that the president will be going to the white house. he is going to be speaking on what is happening right now. we are going to hear from the german chancellor on that issue as well. that's coming up very shortly. balance of next. this is bloomberg. -- balance is next. this is bloomberg. -- balance of power is next. this is bloomberg. ♪ ♪ announcer: from the world of politics to the world of business this is "balance of power." with david westin. ♪ >> good afternoon. welcome to "balance of power." i am annmarie hordern alongside joe. we are sitting in washington, d.c. but the eyes of the world are on kabul. the president currently not in washington, at camp david, but making his way back. joe: when we went to bed without president biden would be in camp david until the middle of the week. we are watching talking points change in real-t

let's bring in our bloomberg's economic correspondent, michael mckee.the main reason they pulled back on this? michael: apparently the incidence of covid has accelerated dramatically in teton county, wyoming. the county has gone to a code red which impedes the ability to have meetings in large numbers so they were forced to go to a virtual format. they will host it via zoom on august 27, friday. looks like they will cut off the saturday portion of it. no doubt. in the kansas city fed, and those of us who were going or going to be really disappointed. taylor: the irony of this is economists are gauging their ripple effect on the economy from delta, in a statement saying that "you can get a hotel refund." the hotel now is no longer going to have visitors. local restaurants, drivers, will no longer have visitors. so you will be seeing, on a small scale at least, some of the ripple effects on a pullback on the economy. michael: that is what is going to be happening around the country in various areas. we are not seeing lockdowns as such, but we are going to

bloomberg's michael mckee with the latest on jay powell. coming up later, mike wilson speaking at 1:00 in new york. our markets analyst, a former trader and voice of global squawk, vincent. thank you for joining us. it seemed a dovish speech, but ready to taper. vincent: i am not so sure it is dovish, but rather the fact that the message was made clear to markets that there is a distinct defense between the two, that it is time to remove and removing asset purchases does not mean we are removing accommodation. until we see the lights of the eyes of inflation and jobs returned back to pre-pandemic levels, i think we can still see and the markets are seeing this as the fed is saying, we are not taking away the punch bowl yet. we are moving this extra accommodation level that the markets do not need anymore. alix: we had some clearing out of dollar positioning into this. you are the effects guy. what is new for the dollar? vincent: i think is going to bounce from here. every trader i talked to this morning was like, what the hell. no one got a

that man is with us now, bloomberg's michael mckee. get to the numbers you are looking for in about six minutes. michael: the consensus is for 858,000, but the dispersion is really wide. stephen stanley at amherst pierpont makes a good point, that our models are basically designed to look at the demand for labor, but this is a supply of labor problem that is really hard to figure out, how many people are going to be out there with the jobs that are going to be open. it is interesting to see how the markets react to that. tom: the heart of what he just said is this is a permanently changed labor economy. do you believe that, and does the fed believe that? michael: i think both of us do. it has been changing for quite a while because of the participation rate as the baby boomers retire out, but this accelerated that movement. baby boomers are going to be the people who are the higher skilled, the higher paid, and except for you, everybody is quitting. tom: thank you. jonathan: i wasn't going there, tom. i promise you. tom: this is the th

let's bring in bloomberg's mike mckee. michael economy sees some slowdown from the delta variant, we are going to see perhaps inflation write a little bit slowly, and that is what people want to find out. that is the forecast, 0.5 percent for july compared with 0.9% in june. tom: do you see the partitions so you can calculate of these other fancy te -- fancy statistics like cleveland and dallas? michael: we will have those a little bit later today if you want to. jonathan: tom knows the dallas numbers, they are not going to make the front page. how important is it to set expectations here? tom: they will be looked at in fed up -- michael: they will be looked at in fed offices. they look at pe, but cpi gives us the biggest breakdown in terms of the prices of individual items, so everybody focuses on that you get a gives us idea that we have seen in these narrow categori. jonathan: it is like red sox tickets over the last three weeks. jonathan: not a good streak. tom: they are on a price decline. jonathan: the expectations component

we'll go to michael mckee at bloomberg tv. >> chairman, i wanted to ask you a little bit about your tapereline in the sense that you said you want a couple more months of data, and the statement says that the fed is going to evaluate the developments in two markets, in jobs and inflation, in coming meetings. does that suggest that we wouldn't see anything before september or november in your meetings? i know a lot of people on wall street have basically felt you're going to lay out your taper plans at jackson hole. is that the plan or are we not going to see anything until the fall? >> we haven't made any decisions about the timing. and i did not, if i said we're looking at one, a couple more months of data. i'm not meaning to suggest anything about a particular time at which we might taper, because we really have not made that decision. all i'm saying is that we're not at substantial further progress. there's a range of views on what timing will be appropriate, and those views ultimately track back to people's views about the economy and what will happen as we make progress towards our g

from the taper stuff will he say the inflation i see is not what we see on the bloomberg terminal screen right now? michael will say they think what has happened in inflation is supply chain problems. the restart of the economy and it should fade. it has gone faster than they thought and may last longer than they thought but it does seem -- there does not seem to be anything off the top of it does just he would be wrong. lisa: i take issue with the idea it will fade. we count this as fading if it fades in two years or three years? some of the supply chain disruptions will be ongoing. to give you a sense of the market reaction there is not much of one considering the fact this edifies the view people are spending less in the face of the increased delta variant. services are getting a hit which could have ramifications for some of these upcoming numbers. do you think this is something the fed will be watching? inflation is picking up but it is because of things beyond control. when it comes to spending, you are starting to see the stagflation like behavior within slowing down. michael: the fed cannot do anyt

tom: chairman powell and presidents and governors of fed with our michael mckee coming up. this is bloombergay with us. bill, you too. ♪ (announcer) back pain hurts, and it's frustrating. you can spend thousands on drugs, doctors, devices, and mattresses, and still not get relief. now there's aerotrainer by golo, the ergonomically correct exercise breakthrough that cradles your body so you can stretch and strengthen your core, relieve back pain, and tone your entire body. since i've been using the aerotrainer, my back pain is gone. when you're stretching your lower back on there, there is no better feeling. (announcer) do pelvic tilts for perfect abs and to strengthen your back. do planks for maximum core and total body conditioning. (woman) aerotrainer makes me want to work out. look at me, it works 100%. (announcer) think it'll break on you? think again! even a jeep can't burst it. give the aerotrainer a shot. pain and stress is the only thing you have to lose. get it and get it now. your body will thank you. (announcer) find out more at aerotrainer.com. that's aerotrainer.com. tom: "bloom

michael mckee with loretta mester. mike: we are joined by the cleveland fed bank president loretta mester. welcome to bloomberg television and radio worldwide. we don't have the beautiful backdrop we normally do but it is nice to see you virtually anyway. loretta: thank you for having me, michael. mike: what did you think of jay powell's address today, is he on team mester, team taper? loretta: [laughter] i think we see things pretty similarly. the economy has made a lot of progress. that is the great thing about what we did early in the pandemic. now the question is is it time to step back from some of that extraordinarily accommodative policy we put on, in particular the asset purchases. the criteria that we put in the statement about what it would take to begin tapering, i think we are pretty much there. inflation, we made substantial progress in december 2020. we have also made substantial progress on the labor market. we will get another labor market report before our next fomc meeting and i'll be interested in seeing that. the only real risk here is whether the delta variant will cause more of a pullback

michael davis. this is bloomberg. ♪ shery: china's top legislative body will take the first steps towards implementingti-sanctions law in hong kong this week. the move follows the national people's congress passage of the law in june and raises concerns banks and other multinationals will be caught in intentions between the u.s. and china. given most trade in u.s. dollars, it may give the u.s. a slight advantage. joining us is michael davis, global fellow at woodrow wilson international center for scholars. thank you for your time today. given that they have to choose between the two sides, if firms go to american way, what would that mean for hong kong and china? michael: i guess it would mean that companies would have to either escape or find ways to separate and maybe create new entities to deal with here -- i am not here, but in the hong kong -- in hong kong itself. and i guess we are going to have to see. right now, it is all very opaque. we know china is mostly this week going to add to this sanctions law -- the basic law. we don't know exactly how it will be implemented in hong kong. shery: wou

overall this -- >> that was martin from bloomberg nef there. michael be giving us his take on what the u.n. is calling code red for humanity. coming up next, south korea's ipo, the maker of the hit game. we have a report from seoul. this is bloomberg. ♪ >> here is a quick check of the latest business flash headlines. chinese health startup wedoctor is said to be fielding questions from the hong kong exchange ahead of its ipo about how it is compliant with beijing's new cybersecurity rules. they were looking to raise up to $3 billion through a hong kong listing as soon as september. the chinese company looking to list offshore have been facing more -- chinese companies looking to this doctor have been facing more scrutiny. amazon is looking to launch an indian antitrust investigation. two e-commerce companies are accused of offering deep discounts and preferential treatment to some vendors. this was an inquiry issued by a local retailer. biontech raised it forecast for this years covid-19 vaccine sales. almost $19 billion. they signed contracts to deliv

michael mckee and claims. really strong 40 minutes to come. stay with us. this is bloomberg♪ ritika: with the first word news, i'm ritika gupta. the u.s. and u.k. are warning citizens in afghanistan not to travel to the kabul airport. they say there are threats of a terror attack. divided in adminstration says it knows about -- the biden administration says it knows about 1500 americans still in the country. the is really prime minister plans to discuss strategy on iran -- the israeli prime minister plans to discuss strategy on iran today at the white house. the u.s. favors a double medic agreement to halt nuclear activities -- a diplomatic agreement to halt news the activities. vice president kamala harris said she brought up the issue of dissidents serving prison terms, but when questioned, she did not ask plane how vietnam's human rights record is different from that of china, another communist country that does not tolerate dissent. the boeing 77 was grounded more than one it -- 737 was grounded more than one year ago. i federal regulators have now cleared the changes it

michael every. we will try to get him back but in the meantime we will get more. this is bloomberget's try again with michael every, head of asia market research at rabobank. give us your most intelligent take you have on, i told you so, when it comes to china? >> basically, i think everyone recognizes that china is a political economy rather than just a dynamic market it is both at the same time. politics clearly has shifted. and the market has been caught flat-footed by this. you read through the buy side and sell side comments on this. i do not read a lot of other people's research. but on this particular topic it is interesting. the voices are either saying they do not mean it, in which case you have to say, logically, the missed medication between what beijing just dead -- miss communication between what beijing tested and what everyone thought they were going to do automatically brings in a lot of political risk in the market meaning you have to reprice. and the ones who are saying they don't mean it are saying they do mean it that they clearly flagged they were going to do i

michael mckee. we will have special coverage of the jackson hole meeting right here on bloomberg tv. us for more on all of this is aditya bhave, bank of america securities global economist. he changed his base case for the start of taper. bank of america now expects the fed to start tapering in november 2021 versus its prior expectations of january 2022. thank you for joining us. do we get alerted to a taper started earlier than expected at jackson hole? aditya: good morning. given the title of the conference, which is "macro economic policy in an uneven economy," there'll be more focus on the labor market, particularly how far have we come and how is the fed thinking about its employment mandate in the context of its commitments to an inclusive recovery. in terms of the taper itself, the july meeting minutes already signaled that the taper will start this year. we do not think jay powell has any compelling reason to signal more strongly than that, especially as you just mentioned around the delta variant itself and the impact it is having on the data. alix: when you take a look at t

michael mckee up in a bit. this is bloomberg area good morning. -- bloomberg.ood morning. ♪ ritika: with the first word news, i'm ritika gupta. president biden is telling terrorists the u.s. will hunt them down. bombings outside the kabul airport killed at least a dozen u.s. service members. a divided u.s. supreme court has lifted divided administration's moratorium -- the biden administration's moratorium on evictions. that affects the millions of people who fell behind on the rent during the pandemic. they said the cdc lacked the authority to impose the eviction moratorium. moderate and progressive democrats are on a collision course over how to pay for president biden's economic agenda. the president has proposed tax hikes on wealthy households and corporations to pay for trillions in new spending. progressive's are actually seeking more, but moderates want fewer tax hikes and are hesitating on some of the spending. that's where the fight will come in, starting next month. china reportedly is taking steps that could support the ambitions of tech firms that w

stay with us for an important conversation with the gentleman from stamford, michael baskin, at the 12:00 hour. this is bloombergning. ♪ in business, it's ner just another day. 's the big sale, or the big presentation. the day where everything goes right. or the one where nothing does. with comcast business you get the network that can deliver gig speeds to the most businesses and advanced cybersecurity to protect every device on it— all backed by a dedicated team, 24/7. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. so many people are overweight now and asking themselves, "why can't i lose weight?" for most, the reason is insulin resistance, and they don't even know they have it. conventional starvation diets don't address insulin resistance. that's why they don't work. now there's golo. golo helps with insulin resistance, getting rid of sugar cravings, helps control stress and emotional eating and losing weight. go to golo.com and see how golo can change your life. that's golo.com. ♪ taylor: a meandering market to start the week as we have a p

bloomberg international economics and policy correspondent michael us now.t is my favorite economic indicator. what did we learn? michael: we learned small business owners are not as happy as they were last month, but this is one of those tricky things. it is because things are bad, or because things can't be good enough because of the supply and demand problems? erasing almost all of last month's gains, that is the headline number. but it doesn't really suggest a lack of optimism. it suggests a lack of ability to make the money they want to make because about 1/3 of the people who responded said supply chain problems are disrupting their businesses. a record number said they are low inventories. they can't get enough stuff to sell. on top of that, hiring. we knew this was a problem for small business, and as you can see, we've got pretty much a record share of small businesses saying they have openings and they can't fill them, and almost as many saying they are planning to hire if they can only find the bodies. for the fed, we are looking at prices, and pr

leading off discussion tonight, tim o'brien, senior columnist for bloomberg opinion, author of "trump nation." michael j. moore, former u.s. attorney for the middle district of georgia, partner at u.s. law firm in atlanta. michael, did you work with b.j. pack? do you know him? >> i know b.j. i was in the group that preceded him under the obama administration. he and i have known each other for a number of years. he's a good guy. i think he's an honorable guy. not surprised he would get in front of the senate committee and give them sort of the straight skinny on what went on. and nor am i surprised he would be someone who would have the integrity to step down as opposed to being used as a pawn to sort of push forward this idea of the big lie of election fraud. and the timing of his leaving, obviously the calls to brassen berg, no coincidence, so i have respect he stepped down and was not going to perpetrate the big lie. >> i'm fascinated by that. i'm fascinated by the fact that a handful of people who decided not to perpetrate that might have been standing between us and the demise of our democracy. g

michael kushma, mark cabana, enjoy your weekend. we will see you next week on friday. this was bloomberg "real yield."s is bloomberg tv. ♪ (announcer) back pain hurts, and it's frustrating. you can spend thousands on drugs, doctors, devices, and mattresses, and still not get relief. now there's aerotrainer by golo, the ergonomically correct exercise breakthrough that cradles your body so you can stretch and strengthen your core, relieve back pain, and tone your entire body. since i've been using the aerotrainer, my back pain is gone. when you're stretching your lower back on there, there is no better feeling. (announcer) do pelvic tilts for perfect abs and to strengthen your back. do planks for maximum core and total body conditioning. (woman) aerotrainer makes me want to work out. look at me, it works 100%. (announcer) think it'll break on you? think again! even a jeep can't burst it. give the aerotrainer a shot. pain and stress is the only thing you have to lose. get it and get it now. your body will thank you. (announcer) find out more at aerotrainer.com. that's aerotrainer.com. mark: i'm mark crum

bloomberg. mark, francine. francine: thanks so much. michael burry bets against cathie wood.tor made famous by big short takes same at one of wall street's hottest stars. michael burry's firm has disclosed against ark innovation etf. joining us now is tom metcalf. thank you for joining us. what did we hear from some of the big names like michael burry? >> yes, it is always fascinating. it is a bit of insight. very secretive. some of their investments around this time. stanley drunken miller, it looks like what he is doing is hedging his bets on the pandemic recovery, so a couple of names that you will hear that you might recognize, he bought into marriott international and boosted holdings in expedia, starbucks. clearly, a very clear theme of jump on what he expects to be recovery from lockdown. but then, interestingly, he did exit a very large stake he took in citigroup, some may be hedging his bets a little bit to make sure it is not all stuck on the u.s. economy. that is the main one that jumped out to me. mark: good morning. apart from those filings, from the other filing

michael mckee will join us to break that down. this is bloomberg. ♪ ritika: with the first word news, i'm ritika gupta. researchers say vaccines targeting the highly transmissible delta variant main dow be needed. a study looked at recent numbers in england. they found the antibodies raised by current shots are less effective. in china, the widest outbreak since the start of the pandemic is hampering tourism and spending during what is the peak summer holiday. that has analysts reviewing their economic growth projections. it has spread to almost all of china's 32 provinces. the british navy says a potential hijacking of a ship off iran has ended. unidentified people were said to have boarded the ship yesterday. those boaters were said to leave today. the incident took place days after a possible current strike hit an israeli operated ship in the region. two sailors were killed, and the u.k. says iran was probably behind the attacks. congressional democrats are reportedly seeking $550 billion in climate damages from big polluters. according to "than

michael mckee and a bit. right now, emily wilkins with us of bloomberg government in washington.t does the president do this morning? ? ? he's had a challenging weekend, to say the least. what is the biden agenda this morning? emily: two big things for president biden this. -- this week. number one, trying to get u.s. citizens onto airplanes, as well as those afghan citizens who are really struggling to get in through that airport. tom: does he have an identified czar yet? i haven't really seen the afghans are for the president -- the afghan czar for the president. emily: at this time, it might cut into the time they need to simply move. they are looking for an august 31 deadline. during president biden say he got extend that deadline. he's been under pressure to extend that deadline from pressure from boris johnson and the u.k., as well as others in his own party. we are seeing reporting saying that the taliban might up their aggression after august 31, after that set deadline, until the pressure is really on for the u.s. to make sure they are getting people onto planes and out

bloomberg's economics and policy correspondent mike mckee walking us through the numbers michael: -- through the numbers. michael: certainly it was a jaw-dropping number. it pushed the headline cpi up 7.8% on a yearly basis and the core up 6.2 percent. they redid these indexes in 2010, so we can't go back farther than that, but those are the highest numbers we have seen. they don't seem to be translating into concern on wall street, however. that may be because they are seen a supply chain problems, not demand problems. so there isn't a whole lot that can be done about them until the supply chains are fixed. you look at what is going on in inflation expectations, which is what the fed is watching these days, and they are not moving. we see the university of michigan, and we get new michigan numbers on friday, but the one year number has gone up significantly. the blue line is the five-year inflation number. purple and yellow are what wall street sees for the five-year and two-year inflation figures, and they are not seeing very much. it is just kind of at the top of the fed's limit.