the toomey-manchin bill to close the gun show loophole. i was just talking to senator toomey. he says the white house reached out about a year ago to talk about it and he hasn't heard from you guys ever since. that's something that you could change right now and toomey thinks you could get ten republican votes. how come you haven't been doing that? >> we have pushed for that, alongside other things. this is not an either/or proposition. when they introduced that bill, i was in the house of representatives. you know who stopped it? the house majority, which was the republicans at the time. we are opened. we have governed in a bipartisan fashion. i think that you have seen republican members come down to the white house, the bipartisan infrastructure bill. we're willing to be bipartisan on making sure we have safe gun regulations. it's easy for toomey to say that there's 60 votes to do it to get past the filibuster, but the proof is in the pudding. you have to show it. we are willing to continue to fight for banning assault weapons, making sure that you don't have those straw pu

toomey: mr. president, i overheard some of my colleagues here on the senate floor complaining about what happened at the senate banking committee today, and i want to address this, set the record straight, and provide a little historical context which i think is important. last week the chairman of the senate banking committee, chairman brown, indicated that he wanted to have votes on six nominees within

ranking member toomey. senator toomey: thank you, mr. chairman. i have to start by observing it's a little bit rich to be lectured by the chairman about not attending a markup of nominees when the chairman personally led the democratic boycott of the senate foreign -- senate finance committee markup of two trump nominees. there are several other democrats on the committee who participated in that boycott. i guess what's good for the goose is not good for the gander. it's also rich to hear about vacancies on the fed board. and this new-found democratic concern over inflation. first of all, i and my republican colleagues have been on record for well over a year warning about inflation risks, warning about the excessive spending. democrats criticized us for wanting us to normalize interest rates and fed policy and, yet, here our democratic colleagues are pushing for yet another inflation-fueling spending blowout bill. fact is, the fed is fully functional. the fmoc has nine of its 12 members in place. they could raise rates today if they wanted to. th

three weeks ago, senator toomey, the ranking member, senior republican on the committee from pennsylvania and i agreed that there would be a committee vote today for six nominees. sandra thompson, who would be head of the fhfa, the vice chair at the federal reserve, jay powell, the sitting w chair woud be renominated to confirm him as chair given three new members of the federal reserve, the vice chair, supervision, also philip jefferson and lisa. thisth would be i think the best qualified, most pavers in terms of gender and race but also thet pavers federal reserve in terms of knowledge and perspective because one of the most legitimate criticisms of the fed is how sort of the federal reserve always looked like me accept they think like wall street and this is the first time where i've seen a federal reserve with the breadth of knowledge. i believe the president wants to appoint a gentleman that grew up right near the stadium in a poor part of washington who now is the dean in a southern school. a woman from a small town in georgia who is now at michigan state. fa former bank regulator,

chairman. >> thank you, senator toomey. a few closing comments. thank you, both, by the way, for being here. for reform which i hope we can reach consensus in this committee. my colleagues and i have talked about the importance of housing finance and reform before the pandemic. as you know, acting director, we had a series of hearings and reform consensus was emerging. i'd like to put out a list of priorities where i think we can reach agreement. there will be some differences of degree, i'm sure, between some -- well, between and among all of us. one, protecting asset of 40-year mortgages. constructing loan guarantee is like public utilities providing a regular rate of return, serving a broad national market, serving lenders of all types and sizes equitably, maintaining a duty to serve, all markets and borrowers maintaining housing goals and metrics, expanding investments and affordable housing, maintaining the family business models in ensured continued or better financing for affordable rental housing. these reforms would create a sound system

chairman, ranking member toomey, thank you both. congratulations to both of you on your nominations. and governor brainard, thank you for the discussion yesterday, i enjoyed it very much. i found it interesting. i liked most of your answers, quite honestly. so now i'm going to try to reconcile them a little bit after yesterday's meeting. and given today's conversation, you have been quite consistent, and particularly in the last couple, you referenced in response to climate scenario analysis as opposed to climate stress tests. the example you used with me yesterday is fire. if you have a forest fire situation and there are insurers backing out, that represents a risk. but you used that in response to a climate question, not a fire question. i think it was senator reed's question that you referenced the record weather events. i just need -- i want you to be really definitive about this issue. maybe as definitive as you were with me yesterday. are you in sync with chairman powell's position? and he stated it a couple of times, a coupl

the >> thank you senator toomey. senator menendez. >> governor braynard, let me thank you for your leadership piece in the middle of 2020, when the trump administration was ramming a flawed rule through the occ, civil rights advocates, banks and other affected parties look to you as a serious voice in the room. and if confirmed i have no doubt that you will continue in that spirit as we approach dr. king's birthday commemoration this coming week. i think about this as one of the essential elements of a move towards a more just society. so let me first ask, during last few years as you are engaging in that work, what did you hear from minority organizations on already led organizations, to further incentivize investments in minority communities, who were disproportionately impacted during the pandemic. >> thank you for your question, and i was very pleased that the board unanimously put out a plea list of rulemaking, and that provides a good foundation for community groups and banks. for what could be good modernizati

i do not share the concerns that have been expressed by senator toomey >> remind me procedurally for all of these nominees, biden's nominees, would have the full support obviously of the democrats, who are in this process, but do you have the threshold of votes necessary to approve all of them or are would you need some republican support? >> well, we would like to get some republican support, and we're talking to our republican colleagues and i'm confident that some of these nominees to the federal reserve will have bipartisan support, but the answer to your question is, end of the day, albeit, republicans do not support these nominations we can get them passed with democratic votes under our current rules. >> okay. so zoom out for a moment what would you say your current concerns are with the fed? do you think they need to be more aggressive fighting inflation right now or are you worried they might be doing too much >> well, i support the actions taken and the message sent by the nominee to be chairman once again, powell. where he underlines importance of the dual mandate, the fed

toomey: mr. president, i overheard some of my colleagues here on the senate floor complaining about what happened at the senate banking committee today, and i want to address this, set the record straight, and provide a little historical context which i think is important. last week the chairman of the senate banking committee, chairman brown, indicated that he wanted to have votes on six nominees within the banking committee jurisdiction. five were to be governors of the federal reserve. they had been nominated to federal reserve posts, and one is the director of the fhfa. now i told the chairman last week that as far as republicans on the committee were concerned, we were perfectly fine proceeding to votes on five of the six, five of the six nominees we were ready to have votes on. and those five included the chairman of the federal reserve j. powell, the vice chair lael brainard, nominee professor lisa cook, nominee professor phillip jefferson, and the nominee to be the director of the fhfa, s

>> thank you, ranking member, toomey. regardless of whether or not the current state of the housing market completely mimics what happened in 2006 with the collapse of home prices of 30 and 40% across the country, even if that does not happen, the pain the gscs are inflicting is undeniable, and by that i am referencing the home prices that are at all-time record levels right now, and whether those prices collapse or stay elevated, american families are severely impacted. the only way to have a way out of this without an even more prolonged period of sharp contraction would be to gradually remove their foot principle the to allow prices to gradually return to something that is more affordable. >> thank you. >> thank you, senator toomey, and joining us from his office is senator menendez from new jersey. >> thank you, mr. chairman. there's a massive racial ohm ownership gap in the country, which is a serious problem, because owning a home the key to building generational wealth and reducing wealth inequality overall. the wh

three weeks ago, senator toomey, the ranking member, senior republican on the committee from pennsylvaniand i agreed that there would be a committee vote today for six nominees. sandra thompson, who would be head of the fhfa, the vice chair at the federal reserve, jay powell, the sitting w chair woud be renominated to confirm him as

i don't know if anything would be enough for the republicans at this point i asked senator toomey ifs in writing she's already provided all that information and more democrats are saying if you don't like this nominee, just vote no. a no vote is perfectly fine, but they need to show up and cast a ballot because otherwise no one is going to be able to move forward. >> ylan, that was a nice way to pull it. pa la mentry processes that they pull out of their pocket. >> thank you. >> thank you we're going to be speaking to senator pat toomey at the top of the hour and we'll get it straight from him too. >> pull something out of your hat. >> your hat? >> pull something out of your hat. >> right. >> pull something out of your hat. i don't know what you're thinking, beck ychl your mind a lot of times goes right to the -- >> hat >> no. people think it's us little do they know after all these years. i know. >>> coming up, offices are reopening. what do they do about employers when they come back? >>> plus, viacomcbs reporting mixed results. paramount global we'll talk with ceo bob bakish in th

pat toomey said today that "basic questions have not been adequately addressed and the committee should not proceed with a vote on sarah bloom raskin until they are." global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i'm mark crumpton. this is bloomberg. ♪ >> good afternoon. from new york, it is 1:00 p.m., six opium in london and i'm matt miller. welcome to "bloomberg markets." here are the stories we are following for you from around the world. the latest on ukraine as president biden prepares to address the country on the situation later this afternoon. in this week's etf iq, we look at the unexpected cause of heavy outflows in two of the largest funds. and leisure travel demand wars back, we will discuss -- roars back, we will discuss that on the back of marriott's earnings beat this morning. now a check of the markets. we have a rally on our hands.the s&p is up about 1.1%, this on the back of a headline that says that russia does plan on pulling back troops after exercises. i will point out th

toomey: mr. president, i overheard some of my colleagues here on the senate floor complaining about what happened at the senate banking committee today, and i want to address this, set the record straight, and provide a little historical context which i think is important. last week the chairman of the senate banking committee, chairman brown, indicated that he wanted to have votes on six nominees within the banking committee jurisdiction. five were to be governors of the federal reserve. they had been nominated to federal reserve posts, and one is the director of the fhfa. now i told the chairman last week that as far as republicans on the committee were concerned, we were perfectly fine proceeding to votes on five of the six, five of the six nominees we were ready to have votes on. and those five included the chairman of the federal reserve j. powell, the vice chair lael brainard, nominee professor lisa cook, nominee professor phillip jefferson, and the nominee to be the director of the fhfa, s

pat toomey sits on the senate banking committee.en about the ownership. senator toomey says it is a small part of his portfolio. lawmakers should know something about what they're regulating here and legislating about cynthia lemis is an advocate on crypto on capitol hill this is a situation where lawmakers are not hiding investments. some are open and public about the trades they made and say this is part of the lawmakers' participation in the financial markets. there is nothing wrong with that as long as they disclose >> very, very fascinating. ylan mui, thank you. >>> coming up, the ceo of parno america. she has an update on the costs on everything and the spirit of the coumnser "worldwide exchange" will be right back you want your data to be protected and secured. and your customers want seamless and easy. with ibm, you can do both. your company can monitor threats across your clouds, address all those regulations, and still create all new experiences. trustworthy ai powered security. that's why so many businesses work with ibm.

that quote from pat toomey we will show you the five biggest stocks traded.d of the show. >>> in canada, block of the ambassador bridge forcing ford to shutdown two factories. that bridge carries 25% of all trade between canada and america. the traffic has been stopped for three days ford hopes the situation is resolved quickly because if not, we could have a widespread impact on all automakers in the u.s. and canada. >>> the peloton ceo off to a rough start. the company held a virtual all-hands meeting yesterday. one meant to introduce mccarthy as the new ceo instead, the conversation cut short by current and former employees who logged in and yelled about how angry they were about recent job cuts and posting messages on the company chat accusing of mismanagement and calling the meeting tone deaf one person writing they are selling the peloton to pay their personal bills no comment from peloton. >>> now to the stock of the day. that has to be disney. beat expectation on the top and bottom line for the recent quarter. the company beating on parks and experien

. >>> let's bring in pat toomey. senator, good to see you again.to start with the cyberattack. it was the largest in ukraine's history. couple that saying they have been breaching the american defense contractors, and one wonder that's the putin's cybercapabilities might be more of a global threat than any troop build-up on ukraine's border. >> no question they have been developing their offensive cybercapability. they use and it test it all the time. it is a threat and they are in all likelihood, deploying it now. and unfortunately, that's a problem for the ukrainians. it is one. areas where we can help ukraine. >> so republicans have gone at it alone in a bill to sanction russia before any invasion happens. mark warner said the democrats might have been on board with the proposal republican lindsey graham floated. take a listen. >> you can say, all right, here are the sanctions to go in immediately. before even any invasion but still give the president some level of an ability to waive those and give him some discretion. that's what senator linds

senator pat toomey yesterday asked the chair of the council of economic advisers about the effect of inflation on the job market. >> most low and middle income workers have experienced a bigger rise in the cost of the things they need to buy than in their incomes. >> well, i appreciate the concern very much, senator, and we are all concerned about inflation and it is important that we have a full slate of governors. i would like to point out the chart. >> we all know the number of governors is adequate to do whatever they need to do about inflation, so let's not go there. >> let's look at this chart on the far -- >> can you confirm the simple fact that for most workers razors -- workers wages are not rising as fast? >> if we look at the bottom 50% of workers, their income before taxes and benefits is greater than q4 2019. >> so we saw the number of 7.5% as the most recent annual rate of inflation. low and middle income people pay a disproportionate amount of income for things that are rising more rapidly like gasoline, like groceries. are you telling me you think the average worker i

senator pat toomey says she's given insufficient and misleading answers about her past history.tors watching your money. joining me right now is chief investment officer christopher zook, baird strategist ross mayfield, and the fitzgerald group principal, keith fitzgerald. thank you for being here. keith, kicking things off with you, with the market on watch this morning, we are waiting on retail sales but of course we're watching tensions between russia and ukraine. markets yesterday snapping a three day losing streak as january's producer price index showed a jump in wholesale prices. we're in the middle of the highest rate of inflation in 40 years. we're waiting on retail sales. the question is, will they higher inflation and worries about higher interest rates to come cut into consumer spending and impact the retail sales number that we're expecting today? what is your expectation for the markets and retail sales? >> good morning. i tell you what, that is a very sophisticated question with a lot packed into it. i think it's going to have a marginal impact on the rel tail num

senator pat toomey joins us ahead of tomorrow's big hearing. nominees we'll find out why >>> and a lawsuit rocking the nfl as one former coach accuses the league and three teams of discrim nakz and racism when it comes to hiring. the second hour of "squawk box" starts right now >>> good morning and welcome back to "squawk box" right here on cnbc. joe is off today let's show you u.s. equity futures on what is ground-hog day but not necessarily feeling that way today looks actually up for the first time in a bit. dow up about 25 points, nasdaq up about 207 points. s&p 500 up about 37 points i want to get straight over to dom chu with a look what's moving this premarket. >> the nasdaq really kind of the driving force for some of the market sentiment and for good reason the nasdaq has been the epicenter arguably of a lot of volatility of late alphabet, it'll be what propels the bulk of what's happening certainly within the nasdaq 100. those shares up right now. amongst other things a beat on earnings and a bate on profits and everything else about

the ranking republican senator, pat toomey, spoke to reporters he said he is willing to advance the otherrats hold back raskin's nomination. he said that he is concerned, in particular, about the master trust that a bank she's affiliated with received from the kansas city fed. he feels she's not answered the committee's and republican's questions adequately now, the ball is in democrats' court, to see how they will proceed. but as of now, republicans planning to boycott the committee vote on fed nominees this afternoon we'll have to see how democrats get around the roadblock guys >> really quick, elon, i'm just trying to keep track of toomey's complaints you mentioned some of these concerns about potential con conflicts. in the past, he's talked about raskin and been critical on the review of climate. is it combination of all those things, and are they widely shared >> reporter: certainly, republicans are unlikely to support her nomination, even if they were to have that vote on it they can always vote no. that is what the democrats say but in this case, he says they simply have questions

first, mark meredith. >> when pat toomey announced he was requiring, the flood gates opened up.s getting on the list. there's a long list of candidates, but some notable candidates like dr. oz and david mccormick, and carlos sands who served in the trump years all seeking the seat. pennsylvania primary voters will be heading to the polls in may. political experts believe this race is not only closely watched but also so expensive. this week the philadelphia inquirer doug through the campaign filings and found dr. oz is spending a lot of his own money. the paper wrote it up saying that he lent his campaign 5.2 million in the first month. that accounted for almost all of his money with the significant chunk coming from his wife's family. and mccormick joined the race in february. he does have large donors and pac money backing his campaign. and no matter who will win the gop primary here, democrats are vowing to put up a huge fight. john fedderman leading in the polls and conor lamb putting up a strong fight. seems like everybody wants to be pennsylvania's next senator. >> martha:

senator toomey: so, we saw the number of 7.5% as the most recent annual rate of inflation.know that low and middle income people have a worse experience than that because they pay a disproportionate amount of their income for things rising more rapidly like gasoline, like groceries. are you telling me you think that the average worker in america is more than keeping up with inflation? >> what we know is that households -- look, we do not want to see this level of inflation, that is why the president is focused on doing what he can, he would like the federal reserve to adjust its posture, but we know that household balance sheets, because of the effort of the federal government, have been maintained through the pandemic. host: from that hearing last week, our economic roundtable -- so, inflation is part of the conversation but reminded viewers on what the federal reserve's expectation is right now for inflation and when these either those numbers or expect the numbers to come down? guest: i think that the federal reserve has that inflation -- ha s said inflation is not trans

shout out to hashtag term limit toomey. he is drawing the line for american people.rles: a lot of people ease out of washington, d.c. he is going out with a bang. >> he is. thank you. charles: appreciate it. are these small cap stocks, are they ready to shine? we already heard one guest say they like them. we'll find out if nancy tengler does as well. famous investor carl icahn points to his multibillion-dollar fortune the reason capitalism is broken. why do the uber wealthy tell us capitalism doesn't work after they become uber wealthy? i will ask jim bianco at 2:40. ♪. ♪♪ care. it has the power to change the way we see things. ♪♪ it inspires us to go further. ♪♪ it has our back. and goes out of its way to help. ♪♪ when you start with care, you get a different kind of bank. i'm ben affleck and i want to thank youre. for joining me and supporting paralyzed veterans of america. i joined the navy to serve my country as a navy seal. i wanted to protect the people i love and the country i love. being a seal gave me so many things, but i gave something too. while parachut

five of them, only one retirement from the seat of thehe democratic senator so pennsylvania, senator toomeyring if not seekingg reelection and that makes the best chance at pickup race this cycle while republicans are slightly favorite given the national environment,al pennsylvania wasn the presidential election, -left-curly-bracket from a quick campus if it's a real opportunity for democrats. when you cap wisconsin for senator ron johnson is running for reelection. another state close in 2016, close to 2020 we have republicans simply because johnson is public, they are still working through their primary d role not have a nomine until mid august. after that we had north carolina from another republican retirement senator richard burr from a similar situation, republican primary democratic -- democrats already have their presumptive nominee, former state, she's already transitioned to general election vote, there still figuring at out but north carolina is marked republican intrinsically that wisconsin or pennsylvania, so we view republicans as slightly favorite in that race as well and we

a lot of that depends, larry summers was talking yesterday with toomey.nd of stimulus that ends up pooboostig infl inflation. raise taxes to i mprove the economy. the question is can we do it without consequences and without paying for it? i think what we learned, joe, from the great financial crisis, we learned we can cut too much from this crisis, we learned we can spend too much mmt is wrong, but mmt suggests we are not at the limit of what we could do financially or physically we are learned we have gone over it that is clear. the fed went in too long and stayed too long and we have to take it back and now all of the pain associated with it. the idea, joe, the rate of taking it back is interesting here >> i guess it wasn't in the journal. i look at so many things before i get here it could have been anywhere that i saw it you will have people i heard politicians say the federal government has the ability to print as much money as it wants. since we generate dollars and create dollars, what's the problem? let's just create a bunch of them and use them

them one retirement from a state seat of the democratic senators so in pennsylvania, senator pat toomey is retiring and that makes it to the democrats best chance at a pickup race this cycle. while we still feel republicans are slightly favored given the national environment, pennsylvania was one of those in the presidential election that's an open raising that there are good candidates and it's a real opportunity for democrats. then you've got wisconsin where senator ron johnson has finally announced that he is running for reelection. another state that was closese in 2016 and 2020 because johnson is an incumbent and a democrat's ae still working through the primary and won't have a nominee until mid august. after that we have north carolina, and other republican n retirement, senator richard burr. a similar situation. a big republican primary. democratic. democrats already have the presumptive nominee and the former state supreme court justice so she has already transitioned to general election mode and republicans are still figuring it out but north carolina is a bit more republican

the senior republican on the banking committee, senator toomey, says there are 36 questions for the record bloom raskin claims she either did not recall or was unaware of things, and also criticized pretty much every interaction she has had with republicans on the committee. this is not a small thing that is going to get papered over easily, so i think markets need to understand that this standoff will continue for quite a while. guy: let's dig in a little bit more in terms of what the problem is here. i struggle to believe this is about a fintech company. terry: it is of two levels. i don't struggle to believe it is about a fintech company when you've got the circumstances around that that there are, when miss bloom raskin says she doesn't recall the interaction with the federal reserve. that strained some credulity in the eyes of some people, including the "wall street journal" editorial page which has been hammering this for a while. but there are larger problems here, ranging from looking like you are the proxy for a lot of green new deal work to concerns about esg, all kinds of concer

heads even extensive disclosure to the banking committee is a natural part of the process and senator toomeyges already been shut down and experts the kansas city founder of the preserve trust and she herself so were going to continue to work with chairman brown and look forward to the banking committee eventually hunting about to confirm these five nominees. >> and are there other options the committee and a question of whether the senate as a whole be nominated words that will do you think you have the power to do. >> in terms of different legislative processes are. >> a full segment, to get the vote and bring them and do you believe. [inaudible]. for the committee. >> i'm working with the chairman on these nominees to the committee. >> in a brief to congress this week 30 million in funding and can you give a description from the feed that one in particular you need the funding for. >> hhs his briefing today this afternoon as part of our regular conversations with congress and including what is needed for covid-19 response and this is important because while we continue to have sufficient

speaking at a virtual conference today, senator pat toomey said he is happy to proceed with four of the five nominees. the pennsylvania republican vowed tuesday to keep blocking a committee vote on mr. biden's nominees until he gets more information from sarah raskin. a new government investigation has found a former trump administration official misused his position. the interior department inspector general says the department's former secretary, ryan zinke, try to advance a project in his montana hometown, and lied to agency ethics official about his involvement. the report also says he gave incorrect and incomplete information to an official who asked him about his involvement. the swedish telecom equipment maker ericsson may have made payments to the isis terror organization. the company ceo told he newspaper the money may have been used to gain access to certain transport routes in iraq. erickson says it continues to quote, invest significantly into an investigation into its iraq based operations. global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than

senator pat toomey from the republican leader of that committee saying republicans will not get the quorum on sarah bloom raskin should not occur until questions are answered. no vote on sarah bloom raskin's nomination. we are awaiting confirmation of four other governors. back to ghp -- back to bhp, we spoke with the ceo mike henry earlier and he talked about the direction of iron ore prices. mike: at the end of the day iron ore price will be determined by supply and demand. given the strong outlook we see for the demand side of the equation, given production in china plus supply-side constraints we think that will provide a measure of support surprising. kailey: joining us for more is alan custis. give me your take on the fate of the underlying commodity, what the future of iron ore holds in your thesis when it comes to investing in miners and stocks like bhp? alan: good afternoon and thanks for having me on. guy made the point that it is around. -- it is around capex. the iron ore price reached $157, i kind of agree with mike henry that the fundamentals for iron ore look pretty good. i

pat toomey retiring from the senate. what i think is interesting is that pennsylvania will show us where the republican party is. where are they on donald trump? where are they on the establishment republicans that we have seen in the past and this is a pretty good tell? democrats think they can flip this state, josh. >> yeah, this is the most friendly state for democrats on the map. they think it's the most winnable opportunity because of toomey's retirement but both parties have some really interesting primaries that could dictate which way the race will go. the democratic side is the more turbulent primary. a very progressive candidate in lieutenant governor john fetterman in the lead in both polling and fundraising against a more mainstream moderate democrat in congressman conor lamb. democrats are quietly worried they could have a candidate that's too far to the left if fetterman gets the nomination and it could hurt their chances even though pennsylvania is a democrat leaning state. republican side an interesting p

. >>> pretty now the race for the pennsylvania senate seat soon to be vacated by republican pat toomey president trump's shadow looms large over the race because he has yet to endorse anyone. dasha just traveled to the state committee meeting. these are always interesting. this is interesting from what you were told by some of the candidates but also what didn't happen. tell us. >> yeah, chris. this weekend the committee meeting they did not endorse a candidate. now, from my conversations with committee members, there was an expectation that this year's meeting with end without an endorsement since there are simply so many candidates, and that means, chris, that the field remains wide open and of course the former president has yet to endorse anyone as well. he had endorsed sean parnell but he dropped out late last year. the meeting was closed to the press this time around but we were able to speak to four of the candidates between close door meetings. sara huckabee sanders showing up. he grew up in the commonwealth but has lived in connecticut in recent years and was registered to vot

you have this instance where senator pat toomey had talked about the technology in order to store workomes to apple daily in china, and the inability for the government to erase the information that surrounded apple daily. how then does the u.s. or other people and actors and governments start to take a look at the data that is being stored? sam: i think the key thing is information is available everywhere, not just the u.s. we can collect that data from hundreds if not thousands of different places. while china may have successfully -- they really can't remove access to arweave in any serious faction -- fashion. caroline: just remind us of protocols, the arweave token in particular. how is it incentivizing people to be using your particular provision? how many people are? sam: using it on the storing site or the hosting site? either way, it is hundreds of thousands, if not millions of people on the storing site. there are hundreds to thousands that have replicated that information around the world. sonali: speaking of funds, you are announcing a fund raise, so what will you you -- do

. >> in the last hour, i spoke with pat toomey. he said their sanctions bill come down harder on russia. take a listen. >> the big difference between our two approaches is in our bill, we impose secondary sanctions on russian banks. that has the effect of shutting down russian economy. probably crashes the ruble. makes it very difficult for them to sell even oil and gas anywhere in the world. >> could you get on board with that if russia were to invade? >> well, my legislation had removal from swift, which was the sanctions that brought iran to the negotiating table and i think it is far more powerful than secondary sanctions. and secondly, what swift doesn't do, removing russia from the swiss system, is break the lings with europe. secondary sanctions on a series of european companies and financial institutions breaks the alliance and we need an alliance to have multilateral sanctions on russia and putin if he makes the mistake of invading. >> thank you very much. i appreciate it. >>> just across the border, cnn is there. >>> and

president biden's fed nominee and ahead of that hearing, david westin will be speaking with senator pat toomeyittees ranking member on "balance of power." this is bloomberg. ♪ as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable nationwide network. with no line activation fees or term contracts... saving you up to $500 a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities.™ >> clearly it is russian aggression. 100,000 troops. >> took a world of business. >> i'm expecting a bad number. i would not be surprised if it was a negative number. >> this is "balance of power" with david westin. david: from bloomberg's world headquarters in new york to our tv and radio audiences worldwide, welcome to "balance of power." jobs numbers come out on friday. right now it is not looking that good with

candidates in the hotly watched race made their case for why they should fill retiring senator pat toomey's race last year leaving the race wide open. >> over the weekend at a closed-door event, the state republican party voting not to endorse any new candidates. the newest name in the race, flexing money and maga connections. >> i am not in politics. it has been a new transition for me. >> the former connecticut resident, veteran and hedge fund executive getting heat on his roots and business deal tphgz china. >> i spent the majority of my life in pennsylvania, and i am a pennsylvania taxpayer and this is a continuation of public service to pennsylvania and the country. >> do you regret some of the business you did in china? was any of that a mistake? >> look, i have been blessed, and just like president trump's experience helped him be a great president, my experience in business is something i am proud of and i want to make sure the dream i have lived is available for them. >> i want to know what is getting your blood pressure off? >> dr. oz olding a rally with the focus on covid-19. >>

three weeks ago senator toomey, the leading republican on the committee, he and i agreed it would beay -- yesterday vote would be yesterday and we would meet at 2:15 and vote them up or down. all 14 of us get a vote. under senate rules if one party doesn't want to play ball, they don't show up, and we can't do business. so all 12 democrats showed up. we wanted to vote. we actually took an informal vote passed 12-0 for essentially all six of them. there was one no on one of them. but republicans didn't show up. so as i said, americans every day get up, go to work, do their jobs. they expect us to get up every day, go to work, and do our jobs. but republicans are awol in the fate against inflation. if we're going to get serious about inflation, we need a federal reserve in place. we need all seven fed governors in place ready to work, ready to debate, and make decisions about monetary policy, about interest rates, about jobs, about attacking inflation. americans don't want, mr. president, they don't want -- they don't want -- in boulder or denver or cleveland or columbus, americans don

not ranking member pat toomey, kennedy, tim scott, tom tillis.etter for the republicans politically to have this level of inflation than it would be to actually do anything to help americans dealing with that. democratic senator from montana was on the committee. not happy about the republican notion or. >> the constituents senate are here to vote. nobody is on the other side. i hear on the floor every day republicans get up and talk about inflation, and by the way, inflation is very important and we need to get our arms around it. the white group is out there to deal with the market forces any better than the fence? there is none. yet they don't show up to vote. i think we should have the vote today regardless, just to prove to the constituents that these folks, that they're not showing up. they're not showing up to do their constitutional duty that they were elected to do. and would have further rich in the situation is the number of nominees that came before us in the previous administration that were not qualified. but they showed up to vote

host: the top republican senator on the banking, housing and urban affairs committee, pat toomey, saysovernment intervention is not the answer to make housing more affordable in the united states. here is a portion of what he had to say. >> to improve housing affordability for all americans, whether renters or owners, we should pursue reforms that leverage the power of free enterprise to increase housing supply and make markets more competitive. we need to scale back the role of government and increase the role of private capital. we need to phase out subsidies that increase housing prices and rents. -- rent. we need to end the gse conservatorship. the state of the housing market affirms the urgency of the reform. the housing market is cyclical. it is a question of when, not if there will be a housing downturn. the housing finance system is not prepared. the system is still dominated by the same gse's that did so much to cause the 2008 financial crisis. the $7 trillion behemoth has an even bigger market share today than they had before the crisis. they certainly remain too big to fail.

rising in certain metrics that we're watching, the fed's ability to address this, especially with pat toomeyhis chair, very doubtable. a lot of republicans who would not allow for emergency measures if there was not some crazy black swan event to hit the market a lot of republicans would let the market fall. charles: we got the economy. we got wall street. former bank of england and bank of canada chair mark carney wrote a piece demanding quick action against the truck convoy that brought ottawa to a standstill. not asking you to take sides, when a central banker making rich even wealthier decides against this truck driver. the question, this disconnect, there has been a notion there is a major disconnect from these folks in these ivory towers at central banks and policies how they impact main street. your thoughts on that? >> i tweeted out earlier today, charles, kind of started with teachers unions and public schools falling by the wayside and you know, in the end though it has been central bankers who have poured fuel on to the fire income inequality and bad optics for individuals who are