ecb olli rehn says the bank looks to keep future price growth anchored. consumer prices in the euro zone has been rising at about 10% with a surge in energy costs. policymakers must intervene. >> we have a high inflation, and our mandate is price stability and we will work accordingly. >> they latest quarterly survey says investors are turning more bearish on china. it is down from 3.9% as as a property market and covid outbreaks persist. the first three quarters of next year have been lowered slightly although the median for the whole remains unchanged at 5.2%. u.s. warships have entered the taiwan strait for the first time since nancy pelosi's visit. the u.s. navy said two ships were conducting a routine transit beyond the territorial sea of taipei, ensuring a free and open indo pacific. global news 24 hours a day, on-air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. this is bloomberg. kathleen: still ahead, we have a jackson hole debrief, and university of chicago professor following jerome powell

tom: that the bank of finland governor olli rehn speaking to bloomberg jackson hole.ing up, the meme stock frenzy continues. tom: welcome back to the open. we are 30 minutes into the european trading day and here are the top stories. hawks all around. jerome powell puts global economies on alert with a warning of prolonged tightening as the european central bank also signals further hikes. taking heat. european markets tumble and u.s. futures extend losses from friday's post speech selloff. plus, energy relief. germany looks set to hit its gas storage targets a month early. that as the economy minister proposes an overhaul of power prices. let's check in on these markets, taking a hit in the headlines from the hawkish commentary from jay powell, saying you are going to see a sustained period of below trend growth. that is the likelihood, and they will continue to raise rates and hold rates high. the markets pricing in 3.8% by march of next year. the european benchmark is down 0.9% of european officials coming out. isabel schnabel over the weekend in wyoming saying we

after the weekend reaction to what ecb officials are suggesting, which is we are getting aggressive, olli rehncentral bank seem to be less enthusiastic and open to that. how does that factor in the equation, or bond yields are going? >> the ecb plays a big role from a political part of this point of view in trying to tighten monetary policy. there's a report out that the gas storage situation in europe is much better than expected. there targeting to get supplies up to 80% of the reserve number by november. they practically reached already. the situation of a country like germany is much better going into the winter. if they can control the energy supplies better than expected, that gives the ecb more room to tighten monetary policy. they don't need to be so concerned that they will be tightening policy into a week economic situation. that helps them in terms of if they want to go 50 basis points at the next meeting, possibly even extend that further. that got more in the way of room to do so. because inflation is still extremely high in europe. now, you could see a picture similar to the fed,