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under information anesthesia on the occasion of the anniversary the ukrainian conflict , tom nichols from harvards own version of a soothing drug cocktail and vprykhnul reader across the atlantic now we have a long routine, the defeat of moscow's army and, ultimately, the restoration of a better world. the best of the worlds, however, creatures. bounded by the washington ring road, less than an hour away, like the city of baltimore, where the black helen carol lives the other day. she got a letter saying there 's going to be less soon. there is an american state reducing the coupons for a poor woman food immediately five times from 283 dollars to 56 dollars really wanted to cry when i received a letter, what should i do with five dollars? i can't even buy meat for a month in the same position as carol now has 41 million americans in the supplemental nutrition assistance program. the so -called food stamps extended by trump in covid. biden. decided to turn around. no, he didn't live . better. but it got more fun. the white house now has ukraine biden's war against russia and his war against the po

under information anesthesia on the occasion of the anniversary of the ukrainian conflict tom nichols from harvardive drug cocktail and injected reader for the atlantic now we have a long routine, the defeat of the army of moscow and , ultimately, the restoration of a better world , the best of the worlds, however, creatures. bounded by the washington ring road , less than an hour away, like the baltic city of moore, where the black helen carol lives the other day . she got a letter saying there's going to be less soon. there is an american state that cuts food stamps for a poor woman five times at once from $283 to $56 . i wanted to cry when i received a letter, what should i do with 56 dollars? i can't even buy meat for a month in the same position as carol now has 41 million americans in the supplemental nutrition assistance program. the so -called futs pace extended by trump in covid. biden. decided to turn around. no, he didn't live . better. but it got more fun. the white house now has ukraine biden's war against russia and his war against the poor working class at home directly related, the

. >>> harvard announced its commencement speaker for the class of 2023. actor tom principal speaker at the university's graduation ceremony in may. harvard's president calls hanks a true master of his craft who has entertained, enlightened, and befriended us for over five decades. hanks will be awarded an honorary degree. >>> coming up first on "cbs mornings," actor and martial artist scott atkins joins us to discuss his movie "john wick chapter 4." his movie "john wic chapter 4." some people have minor joint pain plus stomach problems. they may not be able to take just anything for pain. that's why doctors recommend tylenol®. it won't irritate your stomach the way aleve® or even advil® or motrin® can. for trusted relief, trust tylenol®. meet febreze's miracle spray. febreze fabric refresher. i literally use this every day, to make my house smell amazing. after i make the bed, after i catch my dog on the couch. so i can wear my jacket or jeans one more time, before i wash them again. it even makes shoes smell fresh. it doesn't cover up odors with scent but actually

bradley: i had feldstein at harvard. tom: i wonder what he would say.to clear out the losers. riley: probably. tom: we are not doing that now. lisa: how do you make sense as the head of research at barclays, how do you understand if the market is wrong to price in rate hikes in disinflation? bradley: i will start with we don't agree. could there be rate hikes --rate cuts in 20 20 four? sure. what we think there will be one more hike this summer. it is hard to marry where equities are, which don't seem to go down, and you look at what the market is pricing in terms of eventual cuts. you were alluding to some stuff around banks. this is a banking crisis. but the reason we got there is different than a lot of other banking crises. it was not because of bad assets. it was because of duration more than anything. i think there is a distinction between that. if you had to choose your crises, i would rather have this. lisa: but there is a distinction between the idea of bank failures and credit materially constrained and more suddenly than in the past. how do y

tom: do think he had his students at harvard? i have a column for the -- lisa: chatgpt!ng right now, chatgpt. jonathan: it is pretty much unchanged from the s&p 500. tom: right now leadership from damon -- from jim bianco. jim, i am thrilled to have you on here on a hallmark day. what does it signal to you? james: rates will keep going higher, the fed out minimum will be higher for longer, and the aggressive call right now is that they will move 75 or another 100 basis points and we could be talking about a 6 handle. insurance rates will keep going up, and that is a big driver of why the yield curve has become a new record inversion because it has all been driven by the long end. when the 10 year rises in yields, we get a lowering of the yield curve. jonathan: do you think chairman powell will be reluctant to lean into that argument? james: i don't think you will. it is just one month of data and it has all been very strong, but the ark of data we have seen over the last several months has not been weak. it has not been what senator warren has been calling " millions of

harvard for 15 years. i came back, i suspect, for the same reasons victorian tom did.when the president called tom nines and said, i want you to be ambassador to israel, it probably took him not a long time to reflect an answer yes. i know that when the president called victoria to be the undersecretary to be political affairs of course tourist to serve. when the president called me i had the same reaction. if you can't get accepted, excuse, me if you can't get excited about public service in these three jobs and you are in the wrong business. in my case, i'm going back and forth to china for 34 years, i knew it was a critical time for our relationship in china. i believed in the presidents vision. i knew that we had bipartisan support in congress between republicans and democrats were really robust american policy to defend our interest out here in the and pacific. to compete with the chinese, where we absolutely have to compete. to try to engage them in climate change, global health, agriculture. there is a job, obviously, that i accepted with a great deal of humilit

harvard for 13 years. i came back, i suspect, for the same reasons that tori and tom did. i'm sure when the president called tom nides and said i want you to be ambassador to israel it took him not a long time to reflect and answer yes. i know when the president called toria to be under secretary of state for political affairs, of course, she was going to serve. and when the president called me, i had the same reaction. if you can't get accepted -- excuse me -- if you can't get excited about pun service in these three jobs, you're in the wrong business. and in my case, i've been going back and forth to china for 34 years. but i knew it was a critical time for our relationship with china. i believed in the president's vision. i knew that we had bipartisan support in the congress between republicans and democrats for a really robust american policy to defend our interests out here in the indo-pacific, to compete with the chinese where we absolutely have to compete, and to try to engage them on issues like climate change, global health, agriculture, and so it was a job, obvio

harvard for 13 years. i came back i suspect for the same reason tore it sounded when the president called tom and said i wantyou to be ambassador of israel, probably took not a long time to reflect and answer yes. i know in the president's called joy to the under secretary of state political affairs, when the president called me i had the same reaction, so of course i accepted. you can't get excited about public service in these three jobs, you are in the wrong business. in my case have been going back and forth to china for 34 years but i knewve it a critical time for our relationship to china, i believe the president's vision and knew we had bipartisannd support in congress between the publicans and democrats for a robust american policy to defend our interest in the indo pacific to compete with the chinese were have to compete and two days on issues like climate change, global health, agriculture so it's a job obviously i accepted with a great deal of ability but a great deal of purpose that china will be one of the great challenges for americans going forward, my wife and i have $3 for our kids and grand

tom: stumbling through wednesday, edward joins us from columbia. i'm going to cut to the chase. you nailed this, working in international economics at harvardears ago, so much about these moments and these crises is fear of making a mistake. that invades monetary policy. what are we afraid of making as a mistake in the new central bank policy? it's difficult, you are balancing three different elements. you don't know what's coming off inflation. you don't know how quickly it is filtering into the real economy. now you don't know what's happening in the banking sector and now down the line you have to prioritize these unknowns. inevitably in my line -- in my mind, the fed will prioritize inflation. prioritize -- tom: prioritize inflation, financial stability, could that way in on a may 3 fed meeting debate? edward: in my mind, if that were the job of separating the two on paper, but in practice more than anything they have been lucky in the sense that this particular banking crisis hasn't spiraled into the credit markets. they can take comfort in the fact that the liquidity they have put in at this point, again, when they get to the may meet

tom: in some way, we're still in shock over 7% through even 9% inflation over in europe. terry wiseman is from vassar and harvardi will go over to tim wizman from macquarie. sum up where we are, the consequences of pandemic stimulus that include that broadening inflation. >> in some respect, what policymakers did during the pandemic has turned out to be a disaster. i think that what they were thinking is, looking back on the past 10 years and saw very little relationship with inflation, and as a result of the big increase of monetary valances coming out of gfc, really know inflation. they thought they could repeat that experiment, and it was proven wrong. i thnk it was wrong because it was not just monetary spending, but there was excessive fiscal spending across the world and at the same time expansive monetary policy in the emerging market and develop markets, so we have a global inflation mark -- problem. good news is there are ways to stop inflation. two ways, one to tighten monetary policy. the other way is to let the inflation happen. because when you do that, real monetary talents is start to shrink. when

tom: and mike schumacher with his holistic view is fabulous. i'm still not over the untimely and far too early death of martin feldstein of harvard.euro skeptic. if not the american euro skeptic. there he was, well over 10 years ago, writing that i am sorry, history is here and it cannot be reversed. but martin feldstein and barry eichengreen and the rest in america looking at this did --this experiment, which you lived pre-brexit and you let our coverage, none of this dealt with 7% inflation. the arch german conservative, over to martin feldstein, dead set against the experience, none of them framed 7% inflation. jonathan: back to the hikes of 20 --2000 eight, 2011, and go to the statements. there talking but the risk around the inflation outlook and price stability, close to but below 2% and you look at where inflation actually was, what was the concern of inflation levels, in and around 2%. that just frames this conversation in europe at the moment, nine is a massive problem. when i look at the comparison between now and 2011, 2012, germany was stronger than the periphery. it had a stronger argument to say we don't want all of

tom: neel kashkari showing the strength of the federal reserve system. right now, we will do this quickly, susan collins is associated with the university of michigan and her stirring academics at harvarde the boston fed president here with us and we would like to thank you for joining us here at bloomberg and to our audience around the world. thank you for joining us. let's start with the numbers because they just came out. personal income .3, .3 for the pce for the headline. what does this tell you about the state of the economy and where the fed is? susan: i'm absolutely delighted to be here with you. i haven't had a chance to dig deeply into the numbers yet. sometimes the details are important when trying to understand the story. starting with pce inflation, that was about what was expected. that is some positive news. let me say two things about that. one month of a move in a helpful direction is not something that indicates a sustained change. the other thing i will say, recognizing the elevated numbers we saw in december and january, this bit lower number just means the three-month average is about what the 12 month averages. we still have more work to do and more to see to know