is for rowley -- is michael feroli out yet? lisa: we are supposed to not seem like that is our friday nights but that is our friday night and everyone knows it. i think it is time for us to interview someone who has been a dominant personality at davos and has been an incredible host of several different panels and has a birds eye view into the crosscurrents of many different countries. that is one tom keene. what was the biggest take away from the panels you did? tom: did my agent sign off on that? my number one take away, lisa drives me nuts, we could be talking liverpool, and she says why aren't we talking about china? guess what, we are talking about china. when the lockdown ends, what? lisa: the lack of visibility into that, especially because the china delegation is not here because of zero covid. they are not here to give some sort of intel into what is going on. how you position going forward when that could be the potential swing option in terms of the economy. tom: a wonderful conversation with brian moynihan. he was

economist michael feroli. i'll start with you. it's hard to imagine that we're having conversations about a recession when we're adding in a tight jobs market more than 400,000 jobs and an unemployment rate at 3.6% how do you square that >> so i think the recession -- at least as i understand it, the recession narrative or discussion is really about perhaps next year, not about next quarter i think most people recognize that the momentum in the economy right now is pretty favorable, as you mentioned, the jobs number looking very timely and very strong. as we see these financial conditions tighten, stocks down, rates up, dollar way up, over time if this continues then you set yourselfup for a scenario where maybe a few quarters down the line, recession becomes more of a possibility but again, as i understand it, i don't think it's a ear-term concern, at least not for me but as you look out to next year it becomes a little more of a real possibility. >> so what do you think this is all about, that big rally off the fed and the big s

coming up, michael feroli, jp morgan. ritika: keeping you up to date with news from around the world, with the first word, i'm ritika gupta. it is one of the biggest technology deals of all time. broadcom agreed to buy cloud computing company vmware for about $61 billion. the transaction represent about a 44% premium to vmware's valuation before may 20, the last trading day before bloomberg reported a potential takeover talk. the u.k. will impose a tax on oil and gas companies to be used to help fund at least $6.3 billion of britons facing a cost-of-living crisis. today secretary of state antony blinken will deliver a long-awaited speech outlining u.s. strategy towards china, but there's an muchly to be any bold new direction unveiled. instead blake and will expand existing policies. the strategy includes investing in democracy and innovation at home, bolstering allies and competing with china on military and economic issues. alibaba reported better-than-expected 9% rise in revenue on the march quarter. chinese consumers