sheila bair, stay well. former fbi see chair -- fdic chair.aine: you didn't ask about the topic. it was on by now, pay later schemes. i flipped through this. it is very timely. caroline: a couple companies we have keep -- we have been keeping a close eye on, gina, you keep us honest. where do you see tomorrow, what are the key bits of literacy you will be using to dig into the numbers? gina: i don't know if there will be much literacy behind my digging. i spent enough time as an economist to know details matter in the jobs report. it is critical to watch whether or not wages are starting to overcome the pace of wage growth and the pace of revenue growth. that is problematic for the s&p 500. romaine: 0.4% month over month, 0.6% year-over-year. at that level, even at the higher level, the white color, wages going up. caroline: that is what we want to dig into. that is what is so great, karin at linkedin talking about where we are seeing it. we look forward to that number, 8:30 a.m. romaine: have a great evening, everyone. you are watching bloomb

former fdi chair sheila bair earlier in the year warned it was at nosebleed levels is here with the currentassessment, she is next the markets, different from yesterday, the dow erasing all of yesterday's losses and then some for up 448, s&p up 60, nasdaq 268, we'll be right back. ♪ as an independent financial advisor, i stand by these promises: i promise to be a careful steward of the things that matter to you most. i promise to bring you advice that fits your values. i promise our relationship will be one of trust and transparency. as a fiduciary, i promise to put your interests first, always. charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals. visit findyourindependentadvisor.com your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire that building you're trying to sell, matc- you should ten-x it.ion. - ten-x it? ten-x is the

sign up for the investment club newsletter details on the screen. >>> and sheila bair is worried about, great to have you with us >> thanks for having me. >> choosing the term financial crisis is trikcky because you ar shell-shocked and look back to the great financial crisis but what do you see could be the scenario here? >> i think it's avoidable, but i think interest rates will go up. asset valuations are elevated across the board as monetary policy because less accommodatetive, some of those valuations will start dropping let's not forget what triggered the 2008-2009 financial crisis the fed went too fast on their interest rate hike so this is tricky the history of tightening is not always -- without a negative impact on the economy. i think it's avoidable i think the fed has a significant challenge in front of them. >> sheila, it's tim. is there a part of the economy -- it's easy to look at banks in the pre-crisis leadup to value derivatives banks have different balance sheets and business models where are you concerned in the private sector >> they are in better shape. as strong

joining me is sheila bair, former fdic chair, and also on the board of paxo.an author of a set of children's book >> thank you for mentioning them >> we are showing them on the screen >> great >>> let's start with what the fdic wants to bring into the regulatory framework >> yeah. >> are they going to move before the stable coin issue is clarified or after >> i don't think so. i went back and read the speech and the interview again. they didn't completely line up i think -- it was good but they will be trying to clarify all of this it is a big muddle right now i think these are areas they're seeking to provide clarification. i don't think they've gotten so far as to say, yes, it is okay for banks to hold crypto on their balance sheet. that's one of the things they want to clarify and provide answers for. >> i think the banks are sitting there going, wait a minute, we have enormous growth in fintech and the crypto platforms >> right >> and all of this, our users in the community, they want to use the services but they obviously want to do so in a regulated way