coming up in the next hour, narayana culture lakota -- narayana culture lakota -- narayana kocherlakotaneapolis fed president. ♪ viviana: you're watching "bloomberg daybreak." to sell about $14 billion of shares in china's alibaba come a part of an effort to raise $41 billion to shore up businesses battered by the coronavirus outbreak. softbank is also considering selling stakes in sprint and its japanese mobilephone unit. luxury retailer neiman marcus is speaking with lenders about filing for bankruptcy. bloomberg has learned formal decisions have been made, but neiman marcus has discussed a bankruptcy loan that would keep it running while it works out a recovery plan. i'm viviana hurtado. that is your bloomberg business flash. alix: thanks so much. we turn now to wall street beat to cover three things wall street is buzzing about this morning. first up, j.p. morgan hitting the pause on hiring. credit suisse trades at $21 billion of junk. and mcm leaders are left stuck with junk at citi and deutsche bank. putting me, also working from home -- joining me, also working from home, is sona

narayana: we will see.f the fed's broad-based interventions in the last financial crisis, and i think there might be room for some of that, commercial paper facility, you could make an argument for that. i would be leery of the fed getting back in the business of ,aking loans -- more than loans giving interventions to specific companies. i think it was good that congress took the power away from the fed. if congress wants to give that back, that is a political decision. i don't think the fed should be in that business. alix: when this is said and done, there is going to be some kind of move higher. how quickly do you think the fed needs to give back these rate cuts to prevent overheating? how do you look at that? narayana: i would be very slow to raise rates on the other side. one thing you can say as we get , the rateepisode increases the fed did from 2015 to 2020 left the economy in a weaker position to take on this hit than we could have otherwise been. we could have had higher growth and perhaps more in