ms. lagarde: yeah. this has been the case in europe as well, where inequalities in terms of opportunities, in terms of facilities, have been aggravated and probably exacerbated by covid-19 for the reasons you mentioned. those people most had by the pandemic were women, young people, people on fixed contracts, and those were more remote from work than the others. if you look at those who lost their jobs, it is predominantly those women and young people in particular, in disproportionate amounts relative to the others. ♪ david: as you look at the european economy today, what would you say its single biggest challenge is and single biggest opportunity is? ms. lagarde: the challenge is to deliver. it is to implement. there are good intentions, but implementation sometimes is hard. the second difficult area that will need to be tackled is the issue of inequality, because covid-19 has aggravated inequalities. the third is climate change, where we will have to transition probably faster than we think, which

ms. lagarde: yes. it is extremely important that people understand what we are doing. a lot has to do with trust. if somebody talks to you in a completely obscure language, how are you going to trust that person? to me, it is critically important to agree with the governing council members that we will communicate in a more understandable, he and a clearer and simpler way. -- in a clearer and simpler way. after each governing council, we implement a monetary policy statement where we commit to keeping sentences short, to have one idea in a sentence, to make sure the words that we use are understandable by you, of course, but a normal person as well. we measure that and try to stick to those principles and we will be held accountable. david: do you think your ability to do that, and the federal reserve chairman, jay powell, is interested in that as well -- both of you are trained as lawyers, and i am trained as a lawyer too -- do you think there is a future for central bankers to be lawyers, and there i

ms. lagarde: yes they do actually. in synchronized swimming, if each individual is brilliant, it is great, but if you don't work together, you will not win the gold medal. working as a team matters, and i tried and will try to continue doing so. ♪ announcer: the following is a paid program. the opinions and views expressed do not reflect those of bloomberg lp, its affiliates, or its employees. announcer: this program is a paid advertisement from the u.s. money reserve, a company not affiliated with the u.s. government or u.s. mint. philip n. dheil is the president and spokesperson for the company. the markets for coins and bullion are unregulated. prices can rise or fall so buying these items carries some risks. past performance of a coin or the market cannot predict future performance. views and opinions expressed on this program are those of the advertiser and not the views of this station or network, its management or ownership. announcer: gold. it

here's the ecb's christine lagarde earlier. ms. lagarde: the bond space in the recovering euro area economy is increasingly advanced. output is expected to exceed its pre-pandemic level by the end of this year. with more than 70% of european adults fully vaccinated, the economy has largely reopened, allowing consumers to spend more and companies to increase production. taylor: joining us with the latest, mario taddeo, who is outside the ecb headquarters in frankfurt. i am curious, from your perspective, does this feel like a stronger economic story or an inflationary story? maria: i think for me, it is still a story about a very dovish ecb. going into this meeting, we spent two weeks talking about the hawks on the council, all of them saying we worry so much about inflation pressure taking hold in the european union. but if you look at the press conference from christine lagarde, she sounded as dovish as in every meeting and the pandemic. when it comes to inflation, she was cleared with knowledge we are seeing prices climb, but con

lagarde over in europe. again, 250 billion a month and also 0% rates and in some cases negative rates around the globe. that fuels what we're seeing in the markets right now. and bad news typically doesn't matter at this juncture. neil: all right. thank you, my friend, very much. of course, you're referring to christine lagarde, european central bank. and again, there's a very generous money policy going on across the globe here, so that's manager the markets do want to see -- something the markets do want to see continue. and if we see the federal reserve at least push back getting tough about any of this, that's kind of like a weird welcome development. so it's limiting the selloff in the dow that would otherwise probably be a little wit more severe -- a little bit more severe, but we'll keep an eye on it for you. bitcoin today, that's a separate issue, it's helping it today. but in the meantime, the recovery issue in the northeast from a storm that was only supposed to affect the gulf coast. the stories a