to break that down for us is washington bureau chief peggy collins. soon do we expect this decision to be made? peggy: a lot of people are thinking it will be made before thanksgiving there are couple of question marks there. when they say a decision will be announced, will it be just fed chair, as powell's term is coming up, or will they announce a slate of candidates? the biden administration has the opportunity to change a fed considerably in the next few months. there are up to four open seats at their prerogative. the question is if they will announce 1, 2, or a full slate. matt: we know that at least senator warren says that jerome powell is a dangerous man. what do they expect to change here? do they just want the fed to be more dovish? peggy: a couple things. democrats, including warren and sherrod brown, have zeroed in on financial regulation. they feel under powell's term, financial regulation has been sanded down a bit. second, climate change. they want the fed to be much more assertive on climate change in terms of potential regulations for

. >> joining me now is bloomberg's washington bureau chief peggy collins. so much for having me, alex. >> let's just pick up where vanessa left off there. what do you think the leading factors are why americans are quitting their jobs in such big numbers? >> well, i think your reporter was right on the mark in terms of we've seen women be a driving force between their desire to stay at home where they were working at home during the pandemic and want to keep that availability with their families and also the retirees. this is something that policy-makers are watching very closely. people are retiring earlier in bigger numbers and that's driving down what we call the labor participation rate, something that policy-makers will figure out will it last, or is this something that some early retirees want to take a road trip but a couple of years from now may actually want to come back into the workforce, so i think there are a lot of things driving that and, of course, that's affecting employers in two big ways. one is in terms of how much they have to raise wage

david: peggy collins, you will oversee the confirmation hearings. we heard from john that the president was to some extent addressing democratic senators. at the same time, does he need many of them? there are a fair number of republican senators who say they like the idea of jay powell hanging around. peggy: we expect a pretty easy confirmation process. he has spent a lot of time walking the halls of congress on both sides, so he has support on both sides. we do think that lael brainard will also have an easy side getting -- process of getting confirmation. a lot of democrats think the fed needs to be more aggressive in terms of financial regulation over banks and things of that nature. david: great to have you both. peggy collins, our washington bureau chief, and john authers, senior editor for markets. we are now joined by betsey stevenson, of the ford school of public policy and economics. professor, thank you so much for being with us. you know labor. what about this issue about whether you have to pay for increased inflation in order to get fu