jill biden, ambassador caroline kennedy, david rubenstein, chairman of our board, fred ryan, and vice chair, john rogers, and l roker soviet the master of ceremonies for the evening. we have performances from the great coach five and drunker, metropolitan opera soprano randi sutton, and the nyu start hot school, which we have a new partnership with, provided their chamber orchestra for music throughout the evening, i like the american songs and traditions. there's a special episode will provide an implicit behind the scenes look at some of the moments from that very special evening in this first clip will hear a segment from my remarks that describes the white house connection to the temple of gender and why we decided to host the gala in that historic space. >> i wanted to take a moment to set the stage of where we are here in the temple of gender in the cycle wing of the metropolitan use museum of art. this historic structure in front of you is here because of a bit of presidential history and in fact i think that abject everything we do believe and touch and that happens her in our

let's bring in david rubenstein, carlisle group's co-founder and co-chairman. it's good to see you at times like these when we're trying to figure things out. what do you think this morning we knew it was going to and 50-base-point hike >> it is ironic that the federal reserve increased interest rates by more than it had in two decades and the market is euphoric the market was afraid that the fed might think flinflation was bigger problem than it is. but we to have to get back to the reality that we have a very high inflation rate, higher than we've had since the late 1970s we still have the war in ukraine and russia that we're dealing with and we still have an overall sense that the government of the united states is somewhat dysfunctional and can't get things done as quickly as it should i'm very pleased with what the fed did and think it made the right decision but we're looking at 50-point base increases in the next two meetings i don't think it's tightening so much that we're going to slow down the economy the central bank's main mission is to make sure th

coming up, the television star david rubenstein. stay with us from the world economic forum in davos. this is bloomberg. ritika: keeping you up to date with news from around the world, with the first word, i'm ritika gupta. president biden's has he will review trump era tariffs imposed on china. that red to a -- that led to a rally in the offshore yuan. the president has come under pressure from some lawmakers and economists and the u.s. chamber of commerce to reduce or eliminate them. president biden is seeking to reassure americans about the current monkeypox out. at a news conference in tokyo, the president said it was unlikely to cause a pandemic on the scale of the coronavirus. he said the u.s. has enough smallpox vaccine stockpiled to deal with the outbreak. ukraine's president said russia's economy should be shut off from the world and invited global investors to shift their resources into ukraine to help rebuild the country. in a video address to the rota, forum, dusty world economic forum, -- the world economic forum. polic

ritika: what's the ceo with don fitzpatrick tonight on bloomberg wealth with david rubenstein. the town of uvalde, texas has begun saying goodbye to the 19 children and two teachers killed in last week's elementary school massacre. visitations at the town funeral homes were held yesterday for two 10-year-old girls. this week, 12 funerals are planned. lawmakers will consider what can be done to stem gun violence. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. ♪ what if you were a global bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of ai. now you're making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create >> we have unique economic strengths right now.

that is with david rubenstein, "bloomberg wealth." david rubenstein joins us this morning. this is not all about -- not all that well known, that basketball scholarship you got to duke university. david: i want to do going a scholarship, but it was not a basketball scholarship. tom: we are making news this morning. mr. lasry, there are so many people successful in business who do the sports thing, but it has really worked out for him with his small team in milwaukee. how does he link in lessons from basketball into the investing world? david: mar -- marc lasry is a basketball players and he had the chance to buy the milwaukee bucks at what was expensive at the time, but now seems very cheap. it was about $150 million. today these teams are worth about $2 billion. he's very passionate about his team, and they won the nba champ in should last year -- nba championship last year. tom: what does he say about distressed debt? david: he has been a big distressed debt investor for decades, but in the last couple of years he's really gotten out of that business because there has not

this was in a conversation with david rubenstein. you told david in all likelihood citadel would be making markets in crypto within a few months. where are you on that plan? >> you found a great hotspot topic of debate within my firm. >> within the firm? >> within the firm. all of my colleagues younger than i am probably think i am a dinosaur on this issue. they are big believers. they believe cryptocurrency has an important role in the global economy as a means of facilitating payment. i have to give that due consideration. these are really sharp people. i have to live with the reality that it is what people perceive it to be worth. i may be skeptical about cryptocurrency. i also collect american obstruct art. lie is a painting worth $10 million -- why is a painting worth $10 million? value is in the eyes of the beholder and the market. one thing we do at citadel is we help people create portfolios they think create the greatest value for them. as such, given the institutional increase and interest in crypto currency, i think we nee

in this hour we're going to hear from carlyle group cofounder and co-chairman david rubenstein, plus, a rare interview with alphabet's ceo ruth porat, here to talk big tech and so much more to try to understand the economy around the world, and the global health organization working closely with countries to better understand the cause of the outbreak of monkey pox. dr. scott gottlieb is here to discuss how it may be spreading as the second hour of "squawk box" begins right now. >> good morning, welcome back to "squawk box" here on cnbc. i'm becky quick along with joe kernen and andrew ross sorkin in davos today covering the world economic forum for us. we're going to hear from andrew in just a couple of minutes. in the meantime, we want to check the futures this morning on this monday morning you are seeing the futures at the high of the session we were in the green before, the dow futures now up by 327 points s&p futures up by about 45, and the nasdaq up by 120 of course this comes after another rough week aflast week, the dow now down eight weeks in a row. that's the longest losing

i'll be speaking with david rubenstein, he comes to us in about two hours' time. join us at 8:30 eastern this morning. first, texas congressman michael mccall is here. we will get into joe biden's latest taiwan gaffe as ukraine p calls for more sanctions against russia. we'll get into the foreign policy issues. out of the lime light, why hasn't president biden had a formal mainstream interview in over 100 days. it's the hot topic buzz. back in a minute. ♪ (vo) singing, or speaking. reason, or fun. daring, or thoughtful. sensitive, or strong. progress isn't either or progress is everything. maria: welcome back. president biden once again forced to walk back a comments on taiwan yesterday, a day after committing to defend the country if china tries to take it by force, the white house insisting that the u.s. policy on taiwan has not changed. >> are you willing to get involved militarily to defend taiwan if it comes to that. >> yes. >> you are? >> that's the commitment we made. >> mr. president,s is the policy's strategic ambiguity towards taiwan dead? >> no. >> ca

so it is no surprise that our wonderful friend david rubenstein was a featured part of the galas program. everybody in the room was moved by mr. rubenstein's powerful and poignant remarks as he spoke passionately about why the mission and work of the white house historical association is important to support the white house that we know is much different than the one that was originally designed the ones that was originally designed was much smaller in many ways as many of you may know it's changed over the years and in fact at one point it was so dilapidated in falling apart. that was completely gutted completely gutted when harry trum was president and they started all over again keeping the outside. but the inside of the white house really needed a lot of work in jacqueline. kennedy really made that possible by the extraordinary effort. she made that involves citizens in restoring the white house now, why should we help restore and preserve the white house? well the theory of restoration and preservation, is that by restoring and preserving the past we can make certain that we don't m

david rubenstein and francois villeroy they will have different perspective perspectives >> have you thought about your opening salvo? >> i should not mention this i am thinking about asking the room how it feels if we are heading into a recession or not or depression. i think it is interesting when you have a gathering, there should be over 1,000 people in the meeting room, and it will be fascinating to see how people were feeling martin soros was here saying that davos can be an indication if it is bearish here. >> and bullish in 2012, i was honest at the time and they were on the verge of the recovery we are in the depth of the crisis it was wrong they were way too optimistic maybe too pessimistic. >> high on the agenda in davos as we discussed the slow done in growth and the expected down turn instead of us talking, let's hear from the guests about the risk of recession. >> we started to see signs of food and cpg clients reducing budgets becauses th they cannot the price points we see the tech clients in silicon valley become cautious i think we can power through this we have str

tom: as we mentioned with david rubenstein, the bond market gets equal treatment. the carnage in the bond market is tangible. you can rationalize it all you want. the fact is it is tangible. lisa: strategists have a belief, a lot of them, that the fed will come in and save the market by not raising rates too much. tom: i did not hear that from jason furman. lisa: i did not hear that from a lot of individuals we are speaking with here at the world economic forum. that i think is the tension underpinning the people who are bulls and the people who are bears at this moment. tom: the feeling is to the first day here, it is a much more international audience on a percentage basis. fewer americans, maybe fewer from the united kingdom. but even with that, there's a heated conversation we will dive into on economics, on international relations. but we are not going to forget the market turmoil we are in. we will get to matt brill in a moment. it is a quiescent screen was equities up today. i don't know what dow futures are. jon ferro says it does not matter. the yield is u

alix: -- ritika: you can watch all of david rubenstein's exclusive interview tonight at 9 p.m. new york time. 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. alix: thank you so much, ritik.: numbers above estimates but still hitting their lowest level since february and the health of the consumer and the impact of an nation are the key issues for companies, politicians, and investors. we want to look at it from a purchasing power point of view. by now, pay later, the ceo of that company joins us now, michael linford and sonali basak is with us as well. thank you both. michael i want to start with what i'm sure you read a piece by scott galloway in "new york magazine," talking about the buy now pay later model. he said that any hope of profitability hopes on overextended consumers continuing to match the buy button and what is more likely is the precarious finances of the twentysomething generation are going off the precipice and there is a big risk of collateral damage. what would be your

haidi: more from david rubenstein's exclusive interview with soros fund management ceo dawn fitzpatrick. as we get into this new trading month, one lesson learned over the past month is, valuations and the trepidation with which you approach speculative assets, including the margins of tech stocks. bloomberg economics is suggesting a many bubble has been busted. look at this chart. valuations in the correction that we are seeing is read times faster than what we saw in 2000. we keep going to history as a guy. but one thing to remember is, we have never seen this kind of attempted recovery out of a pandemic, and out of dealing with big inflation concerns that are attributable to credit causes, like the pandemic, supply issues, the war. -- kathleen: according to bloomberg intelligence, they are looking at elevated inflation, supply chain disruptions and earnings are forecasted to lower until 2023 because of margin outlooks, higher wages and spending more for materials. they give a list of large companies with negative attitudes about this -- amazon, ♪ su: this is "daybreak asia," with f

rubenstein's comments quite interesting doesn't think detail has legs shared a checkey comment he said that tax aavoidance main in have life not necessarily convincing everyone in davos, on the ground in davos i seem to remember 2017 tax cut dagen, actually created a better economic outcome than anything we're seeing now the bottom earners wages higher than top earners. dagen: poverty rate lowest in decades record lows for many she mentioned mark russlo, at least he does walk his talk, talk his walk, but he has been against fracking, opposed to the production of natural gas. so thank you for that, for helping, foment a food shortage around the globe i quote kyle bass beginning to convulse due to calamity ask explosive food prices natural gas prizes almost tripled, local fertilizer diesel fuel for farm equipment becoming unavailable be careful of the problem that you create, by choosing -- well climate, over feeding people. and moving people. maria: radio do you think people understand what they are talking about or just jumping on the narrative because their friends are doing it? dagen