morgan no dividend increase. maybe these are the models you do not want to be in, and this economic time. >> well, that may be two very different things. do you want to be in them? do want to be? clearly it has not worked so far. i think that i wouldn't read too much into the dividend thing. i think they telegraphed it. if we see rates move lower, they will have the flipside and build additional capital. i think j.p. morgan has laid out very clearly, they are going to spend a lot of money. they will look to do acquisitions. and they are going to, they are going to do buybacks. i don't see them increasing the dividend analyst they have more clarity. which i do not think they will have in the near two quarters. >> check out energy leaving the market jumping 3%. trying to stage a rebound after a rough couple of weeks. our next guest is the recent drop could be a good sign. what are you looking at? >> reporter: i'm looking at the selloff we have seen in the sector in recent weeks. is telling the bear cycle has now co

morgan norwood, abc news news, los angeles. dan: to find an ally to cope with issues like school safety, gun-control, and mental health get started by going to abc7news.com/takeaction. schools have new covid testing guidelines for the upcoming school year. the california testing task force this week released a new testing framework that recommends antigen test's be considered the primary option for detecting covid, not lab-based pcr tests. this state -- in the state will likely scale back on site testing. california is offering an additional 15 million antigen tests to schools. >> in the south bay, a unique approach to promoting voter turnout. that story. dan: also, the pain of the pump continues. the latest bay area gas prices and where you will find these skyhigh prices. get ready for the first nba finals game at the chase center. the warriors start their championship run thursday. you could say the excitement is overflowing. first, a look at it was coming up tonight on jimmy kimmel live. jimmy: if we waste time, let's do it

morgan norwood, abc news news, los angeles. dan: to find an ally to cope with issues like school safety, gun-control, and mental health get started by going to abc7news.com/takeaction. schools have new covid testing guidelines for the upcoming school year. the california testing task force this week released a new testing framework that recommends antigen test's be considered the primary option for detecting covid, not lab-based pcr tests. this state -- in the state will likely scale back on site testing. california is offering an additional 15 million antigen tests to schools. >> in the south bay, a unique approach to promoting voter turnout. that story. dan: also, the pain of the pump continues. the latest bay area gas prices and where you will find these skyhigh prices. get ready for the first nba finals game at the chase center. the warriors start their s excis erflowing. first, a look at it was coming up tonight jimmy: if we waste time, let's do it together. say you are a pilot that almost never flies. >> i fly big dig wit

morgan? >> morgan: and it's coming from china. we know exactly the ingredients to make fentanyl come from china. the communist party knows it's there. it goes to mexico where the drug cartels make it and smuggle it over the border. so this it administration can have a much heavier hand on china where the ingredients emanate from. they could clearly have a much heavier hand at the border. and remind parents whose kids on tiktok, beyond the fact that you can get caught up with drug dealers on tiktok, this chinese communist party spyware in tiktok that is infiltrating your children's phone and social media accounts and you should delete the app. >> harris: we read about that in detail over the weekend, and just how much spying they are doing. of course they are finding out more than if you have a crush on somebody. >> morgan: mike pompeo warned everyone in 2020, on the laura ingraham show, and give an interview on tiktok and with a chinese communist party was doing. so it was reported over two years ago from mike pompeo but i'm glad

oh, my gosh, morgan. >> morgan: there is supposedly 70 staffers running his social media. you would think, i'm sure they have this too, we have a running calendar of all the historical events and the things are supposed to remember. i don't know how something like this -- >> harris: it was on your phone. it comes up. incompetence doesn't necessarily answer the question. was it incompetence or purposeful. was it purposeful? too they just want to talk about climate change or do they not want americans to think about the military because of their epic failures in afghanistan and the russian war in ukraine. at least they finally got something out, let me save everyone serving, all the families, especially those of families of those who served on the day. thank you for serving our country. putting on the uniform is the most important thing other than being a mom. it's the most important thing i do in my life. i'm sorry that the president didn't thank you in time and on behalf of all of us i know we are also grateful to all those families and everyone who serves. >> harris: we a

>> yes, this is commissioner morgan. can you tell us more about the cpr app. >> i'm going to differ to chief to talk about that, can you talk about that more for us. thank you. >> commissioners, president, chief, bob post deputy chief of operations. so what the app is, this is a third party vendor and they work, they're working in concert with our department of management. and throughout the city, there are defibrillator that are placed throughout the city. and when the concept when somebody suffers a cardiac event, it will tell you where the nearest did i lib later is so that anybody is that trained in cpr can administer cpr and get the defibrillator operating. the higher of rate of survival for anybody that suffers cardiac arrest. so the goal is toin crease cpr and increase the public's intersections to try to improve the survive amount of the victims. they can be added into the system and there is challenges with people from the outside responding and interfering with us getting the first. we have not put into that po

he morgan became the latest to lose his life. . , morgan became the latest to lose his life. .,, ., ., , ., ., morgan became the latest to lose his life. ., ., , ., ., ., life. he was an ambassador and a character- — life. he was an ambassador and a character. everyone _ life. he was an ambassador and a character. everyone in _ life. he was an ambassador and a character. everyone in the - character. everyone in the motorcycle world knew him. —— motorsport. it's a massive loss to his family and it's a massive loss to our sport. his family and it's a massive loss to our sport-— his family and it's a massive loss to our sport. his family and it's a massive loss tooursort. ., �*, ., to our sport. morgan's death was the third in five — to our sport. morgan's death was the third in five days. _ to our sport. morgan's death was the third in five days. olivier _ to our sport. morgan's death was the third in five days. olivier lab - to our sport. morgan's death was the third in five days. olivier lab are - third in five days. olivier lab are all died on saturday. mark purrs low die

morgan emerged as the largest counterparty to a chinese company. walgreens has abandoned the sale of its goods pharmacy chain. the deal was expected to bring in more than $6 billion. bloomberg has learned the goldman sachs is going to celebrate to more than $1.2 billion. it forces the firm to take more lending loss provisions. goldman originally said the market would break even this year. 2310 -- 23 time grand slam winner serena williams the first round at wimbledon. she was beaten by 116th ranked player from france. when asked if this is her last match, she said who knows. global news 24 hours a day, on-air and at bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. manus: thank you very much. a little later, the world most powerful central banks in an exclusive conversation at the ecb form in sintra, :00 london time. dani: in this hour, france cuts its economic growth forecast. macron faces his first challenge in parliament. since the elections. this is bloomberg. ♪ manus: dani:

please welcome back to the show, our friend tracy morgan, everybody! [ cheers and applause ♪ ♪ >> seth: hey, tracy morgan, hey! we're happy to have you. it's very exciting i know you have a lot going on right now, but i want to start by asking -- i know you're a lover of sharks. >> yeah. >> seth: you're a man with a home full of aquariums, and you just hosted a special "shark week" special >> yeah, man, i love me some sharks. more than flounder >> seth: you like sharks more than flounder? >> yes! i love sharks, man >> seth: i never even heard this >> it's in my blood. marine life is in my blood >> seth: always. >> a lot of people don't know that jacques cousteau is my biological grandpa >> seth: [ laughs ] what really [ laughter ] >> jacques cousteau! >> seth: you're a quarter cousteau >> jacques cousteau morgan >> seth: [ laughs ] really >> that was his name my grandmother did catering on his boat, the calypso. >> seth: oh, wow >> and he loved the red beans and rice >> seth: [ laughs >> loved them, one thing led to another >> seth: really? >> and

morgan is laying off hundreds of u.s. staff who work on mortgage lending and reassigning hundreds more this week. the total will be more than 1000 workers. rapidly rising u.s. mortgage rates have driven down demand and what had been a red-hot housing market. global news 24 hours a day, on-air and at bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. dani: coming up, chinese president xi jinping, kicking off this week's summit. this is bloomberg. ♪ manus: manus cranny and divide, dani burger in london. we been criticizing sanctions for stroking economic pain in speech kicking off this year's bric summit. >> weaponizing the world economy using a dominant position in the global financial system to wantonly impose sanctions will only hurt others as well as oneself. leaving people around the world suffering. dani: i know we are both enthusiastic to hear from tom mackenzie. what did we learn from his speech about growth in the wider geopolitical story? >> the

yvonne: morgan stanley's chief u.s. economist there. that's in anna han, equity strategist at wells fargo securities, to talk about the massive selloff in the u.s. session. . seems like recession talks are getting louder. the likes of value stocks, reversing when it comes to industrial commodities, the supercycle fainting. are we nearing the end of this information trade? anna: i would not say goodbye forever, but i think we are starting to rank out the cyclicality in our portfolios. we really pushed to the reopening trade. but when we expect to have our base case as a recession, next year, that changes how we approach our portfolio positioning, and cyclicality is not our favorite anymore. yvonne: estimates are too bullish at the moment. we have net margin estimates at a record high. are they still to optimistic or do we need further adjustment? anna: the half met inflation expectations as to continue to increase, i think they are high. i was surprised to see quarter over quarter, margin growth for large-cap companies last quarter. we e

morgan is uncertain about this. the reason is how the central banks and up -- central banks end up responding. j.p. morgan is suggesting that the language we are hearing from jerome powell and his colleagues also suggests that the bank needs to engineer a rise in the u.s. unemployment rate. the aggressive actions we are seeing from the fed and other central banks means that we could see a tightening in financial conditions sharper than what was expected here. the concern for jp morgan is that it ends up being too heavy a load for the private sector, that they say is otherwise in a healthy position. so that could lead to a u.s. or global recession, which j.p. morgan defines when we see the employment rate rising by 14% -- as when we see the unemployment rate rising by one percentage point. and they are expecting a rebound from china. haidi: take a look at bitcoin. it is heading towards the $30,000 range. annabelle: some technical indicators saying that we could see a drop down to $12,500. bitcoin not moving to the up

i'm here with morgan radford. kristen is traveling with the president. we'll check in with you shortly. >>> we want to get to the top story. the reaction to the supreme court overturning the roe v. wade decision. >> thousands of people took to the streets from new york, los angeles and miami and more. expressing sadness and others overjoyed. impact was immediate. six states banned abortions with more following soon due to trigger laws. half of the states are expected to ban abortion. >> our team fanned out covering the ruling and impact and implications for the country's future. we want to begin with jesse kirsch. jesse, good morning. >> reporter: peter, good morning. this is one of the places where thousands of people rallied across the country here in new york and cities all over the u.s. the crying and celebrating this historic decision. it was expected after that leaked draft opinion, emotions are still running high. from just beyond the supreme court steps to cities like new york, denver and miami, the reveral sending thousands in the streets. >> it

jp morgan describes a full point hike is a nontrivial risk. boris johnson sparks a rift with the eu laying out a plan to override the northern ireland protocol. interesting how bill street talked about italian the btp, it briefly touched 4%, the risk of fragmentation seems to be clearer every day unless the ecb asked. tom: bill street saying that is the thing that keeps him up at night, and whether we get more from the ecb in terms of clarification from christine lagarde. there was a move into sovereign debt in the last few hours. 10 years also with a move across the curve, yields coming down as investors way -- weight up how fast the federal reserve will go. jp morgan and goldman sachs presenting -- predicting 75 basis points. but choppiness in these bond markets. marginal relief across the equity markets. the dax is higher by .2%. the ftse 100 as well, up 14 points. we look ahead to the bank of england. we have the fed first, then the bank of england, at a time when we could be hiking in a recessionary environment in the u.k. banks and energ

morgan stanley ceo james gorman is making some comments at a morgan stanley conference, joe mr. gorman saying that, quote, no one can accurately predict where inflation will be a year from now chances of recession 50/50 but unlikely to be, quote, deep or long recession, says europe's economy is zbg to be slower than the north american region this year, quote, unquote for sure. also says a sustained 20% down market the firm's wealth business, this being morgan stanley of course, can still earn 20 to 25% margins and that the wealth business can reach 30% margins. you own morgan stanley if i'm correct, right >> i own morgan stanley for quite some time, so i like those last several sentences. >> so we got two different levels of this conversation, morgan stanley business impact, stock impact, mr. gorman and his own views in the context of a couple of weeks where we've had the hurricane comments from diamond, not so bad -- i'm paraphrasing that, of course -- from bank of america's ceo as well what do you think? >> i think a lot of it is reflected in the strength of the dollar in part

again, this is happening in north morgan hill. meantime, coming up, a cigarette crackdown, the major decision being considered by the biden administration that >> hopes to keep more people smoke-free. plus, an abject failure. that's how one law enforcement official is calling the police response to the deadly school shooting in uvalde texas. >> how he says the tragedy could have been stopped in just a matter of minutes. but first, the money saving option that uber is bringing back for the first time since the pandemic. wanna help kids get their homework done? well, an internet connection's a good start. but kids also need computers. and sometimes the hardest thing about homework is finding a place to do it. so why not hook community centers up with wifi? for kids like us, and all the amazing things we're gonna learn. through project up, comcast is committing $1 billion dollars so millions more students can continue to get the tools they need to build a future of unlimited possibilities. >> uber's shared rides are back in select ci

let's stick with morgan stanley. then we need to go to charleston south carolina. >> great to talk with you. >> want to get your opinion. this has a 6.5 yield. 50% earnings growth. what do you think about umc? >> it is a great spec. let's leave it at that and move on. andean colorado? >> i have a question for you. >> i thought bank of america could've boosted a bit more tonight. it makes me feel like it is better to go after morgan stanley. it is a fact of life. that is the conclusion of the lightning round. >> the lightning round is sponsored by td ameritrade. >>> you are one of my heroes. >> i look forward to your show every week night. >> thank you so much. >> when you talk about the market, i believe you are spot on. >> every night we watch you and i have learned and earned. >>> there is a smugness about the people that promote crypto. i find it unnerving. don't get me wrong, i love innovation. while they were talking crypto evangelists were sponsors, they don't seem to understand something called the securities

banks such as jp morgan, morgan stanley, and goldman sachs could handle a recession. in the u.k. consumers are starting to crumble in the face of soaring prices. the government says the volume of goods sold in stores so 0.5% -- fell 0.5%,. another report says consumer confidence in the u.k. has led to a record low this month. europe's travel chaos is about to get worse just as the summer vacation period gets underway. canceling 3100 flights after a wave of coronavirus infections led to staffing shortages. chappell has rebounded dramatically in europe. that has projected the cancellations and lines lasting hours. global news 24 hours a day on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. i am ritika gupta. this is bloomberg. >> i think powell is trying to finesse it. it is not clear for him what the terminal rate is right now. he has to continue to guide the market toward hawkishness. he cannot go wobbly on the resolution to tackle inflation. tom: greg staples, head of north american fixed-income. really important comment

morgan to schroders. why are some of the world's biggest names in finance lining up once again for the so-called widow maker trade? ruth: it is feeling very much like a showdown against the boj and the markets. it all comes down to the very critical policy divergence story. the boj is standing pat on it ultra dovish stance at a time when the fed and even the rba are raising rates. funds see an opportunity to short japanese government bonds because of it. they are betting that at some point the boj will have to tweak and give up on yield curve control. schroders as you mentioned says japan is the one market that is telling us to go short. jp morgan is saying the boj will have to adjust policy at some point. there is a real lineup now for the so-called widow maker trade. haidi: what are implications to global rates markets if investors are proven to be right, that the boj will tweak or completely abandon yield curve control? ruth: big implications all around. we see yields rise basically everywhere. so, it

. >> katie nielsen on the border of san jose and morgan hill tonight. >> reporter: as you can see, firefighters still busy at work. what we understand from a neighbor at this point, the fire started around 4:30 -- i'm sorry, earlier this afternoon. when a power outage had one of the residents here fire up a generator. that generator caught some weeds on fire, what eventually started this fire. from what we understand right now, there are three mobile homes that have burned, also a number of outbuildings, including where some cars were stored. that's where all the smoke is coming from, a number of these outbuildings still burning. in a situation like this where you have a fire that's spread over multiple properties like here in san jose, morgan hill area, normal situation would be for firefighters to surround and drown, basically try to get around all of this fire and douse it with water. the problem is we're not near any of the fire hydrants at this point. so all of these firefighters have to rely just on what is on the tanks on board the fire engines. engines here generally have tanks 600 to 8

jp morgan is laying off hundreds of staff in their home lending unit. tom metcalf joins us for the details, what does this tell us, the case of jp morgan about what is happening in the housing market? is this a one-off or are we seeing this more broadly now? >> it is that real-world effect. you have seen interest rates rise and this is the real business impact. jp morgan is an enormous lender particularly in mortgages, and it has cut off i thousand jobs from its mortgage business. it has reallocated about half. tom: prices are going down, is there variants in how lenders are adjusting this, how long do we expect this to continue at how is it tied to the fed? >> it is tied to the wider economy as well. there has been a very hot housing market. some of this is a natural cooling-off. it was interesting to hear those powell comments, doesn't sound like it will be a short-term fix in any sense. this might be the start of painful announcements from other lenders. tom: how many other places are starting to pull back? >> the other big one is wells fargo, they h

the 47—year—old man who died has been named as hywel morgan from nearby cardigan. an eyewitness said he gave his life to save others, as he tried to help the children in difficulty in the sea. in a statement, his family said he was a devoted and loving father and a hero. they said it gave them comfort that he selflessly tried to save others. local councillor dave clive davis knew hywel morgan, who was affectionately known by friends and family in cardigan as howl. lovable character, well—known by the town. i would often speak to him on the street or he would wave from across the street and have something to talk about, some kind of story, or he would be talking to me about a business idea he had. and his death is going to have a profound effect on the community. here in the cardigan area? yes, it's quite a hit for the town. quite a small, close—knit town and he was well known across the town. yeah, it's been quite a hit for the town and a lovable characterfrom cardigan. he has obviously lost his life trying to help others. yes, a selfless act which is really, r

we actually spoke to piers morgan on the eve of his talk tv launch. now, the headlines around that show, obviously since then have been about the low audience numbers. and i wondered if you have any advice for piers morgan. piers is very good at what he does. and i've always said that about him. and while he has gently tossed the insults around over the last few years, i've always said that good morning britain have done a greatjob when he was there. it's been brilliant to see susanna reid'sjournalism in recent weeks. ithink, you know, the interview she had with the prime minister was brilliant. it's been good to see a bit more of her. but he's struggling on a new channel that people aren't... i wish so much... i wish him all the very best with that. i think it's a big challenge for him. but he's, you know, he's very good at what he does and... the one thing i'm quite proud of is that i never walked off when carol kirkwood said anything to me. so i guess i take that as a claim to fame. and talking of bbc breakfast, i mean, obviously, bbc breakfast is

kelsey barrow joins us now with jp morgan. the jp morgan world of bronze -- bonds, in the 30 year fixed mortgage. >> if you look at the fed fund rate, it has risen 150 basis point point -- points. we have seen the impact on the housing market from that move. we will continue to see the housing market decline. what is important to note about this move, this move in financial conditions, is it has been so severe. in any other scenario, the fed would have paused. the reason they haven't this time is that the inflation environment is not letting them. what spooked them last week is that university of michigan. yeah. absolutely. he mentioned the university of michigan sentiment taking a. what we know about the sentiment data and the university, it is correlated to gasoline prices. some of that increase in gasoline prices is out of their control. they are putting themselves in a difficult situation, one they are saying they are going to prioritize inflation overgrowth. tom: oil has gone to 118 on rent. we barely had a pullback on oi

the one with the least default risk in new york is morgan stanley. last night, after being scrubbed by the federal regulators morgan stanley decided to increase by 11% and authorized a $20 billion multiyear program. this is only $136 million company. it is substantial and real. why am i think it's about morgan stanley? the same reason for why i --. it does not have the same business model. it is a doable earning screen. it does not have the same risky profiles like the major banks. and -- of 4%, one of the largest in the land. i think it is a gem you can pick up much less. the stock was up a little today, but you know what, on any other day i think the stock could have traded to the low single digit 80s, it was that positive of a dividend boost. next, really controversial, here is a stock that has been cut in half from last year. at one point today this was up big. it gave up -- once the programs kick in. why disney? we learned that china will allow them to open up a shanghai disney. the ceo knows how to run theme parks. there is a greater chance tha

the question here is how tough is this environment going to get, especially when jp morgan, jp morgan did not lose their dividend for reason. they are anticipating higher capital requirements. that's worth looking into. alix: i was interested in what they said about preserving capital. i'm going to keep this here. it's uncertain. >> is that because they want to pile up money back into trading divisions? do you want to be making markets the big way when liquidity is spinning out? guy: there's nothing you don't have an answer for. alix: that's true. guy: right stuff. i want to come back to crypto today. that's the weekly show cohosted by matt miller and kailey leinz. up next, energy independence. how we could cap the price of russian crude. this is bloomberg. ♪ this is xfinity rewards. our way of showing our appreciation. with rewards of all shapes and sizes. [ cheers ] are we actually going? yes!! and once in a lifetime moments. two tickets to nascar! yes! find rewards like these and so many more in the xfinity app. guy: of course the big topic at the g7 meeting, how leaders can wean

out crypto space in the same way that the original jp morgan did in 1907. he says the crypto world requires him to help others troubled in the industry, even if it is a loss to his current firms. there has been a collapse of terry ust, luna, other crypto related banks and funds that have taken huge losses here. that has accelerated selling. >> su keenan in new york, let's get to the arkham movers in the stocks we are watching -- market movers and the stocks we are watching. one of the eb makers on an absolute care right now -- ev makers on an absolute tear now. >> local eb makers capturing 85% of the market, li auto with its price target raising. checking on the aussie copper liners, mixed moves this morning we have a major copper mine in chile facing a strike. it could benefit the aussie minors from that. a quick check on malaysian chicken producers as well, see them surging this morning, will asia is removing price caps on chicken -- malaysia is moving -- removing price caps on chicken. kicking off the election with the weak yen and rishaad: the nikkei se

morgan securities. i want to go to jamie dimon's annual report of april of this year, his letter to shareholders where he talked about the precarious nature of the global energy supply. that supply is easy to disrupt. we should also keep in mind that as a percentage of global gdp, oil is only about 40% of what it was in 1973, but it is still essential and critical. mr. dimon has stated there is some level of hurricane out there. in your 100 page treatise, you don't use the word hurricane, do you? christyan: we don't use the term hurricane, a fantastic analogy by mr. dimon. the key here as we look into the future, we see a world that is short oil well before we no longer needed. when we think about the deficits , it is all pointing towards a situation where basically, there will be no solution around mitigating higher prices, and particularly high inflation across energy. we are basically short all fuels, and the only one that is available even in limited context is oil. tom: at what price brent crude pe

power has been restored to thousands of people in that area around morgan hill. kerry, thankfully it won't be as hot today. but, this still is another reminder that fire danger is out there for us. >> the fire danger will continue. in fact, we are still talking about mid-to-upper 90s. that's not really much yesterday. when you at the humidity it keeps the body from pulling down, and we have the potential of some thunderstorms. going into the weekend it's dry and hot. let me show you all the activity with these thunderstorms happening across southern california from l.a. to bakersfield. all of these icons are under clouds of lightning. this is a really active system with that moisture headed close to the bay area. we are going to see a chance of some of those storms moving into our area later this evening. >> all right. thanks, kari. service could be slow in parts of the east bay. this is after one of the trains derailed yesterday. >> we do have live coverage tracking the community. bob, bart says is going to keep the factory here. >> reporter: correct. we know it

that is the heart and soul of the jp morgan call. lisa: which ends where we began, that tension bubbling up as we go towards a jp morgan call of $150 a barrel. tom: are we going to get a two year yield under 2%? it's starting to get my attention. kailey: bonds are starting to get your attention, seriously? i actually find it interesting, even after have the hawks and fed talking up hawkish nests, you have a rally in bonds, especially as people look out to the recessionary call in the near term, more so than people previously thought. tom: stay with us. kailey leinz is here for jonathan ferro. we on radio and television -- we 're on the radio and television. this is bloomberg. ♪ tom: oil down 124. commodities generally giving it back. dollar resilient, 104.51 on the country dx. persistently weak yen. sterling, 122.47. pound sterling cannot get out of its way. lisa has an individual stock story. lisa: they are all down. today is a gloomy wednesday. today is a new day when it comes to the relationship of oil to the deflationary backdr

i want morgan to stand up because morgan is an alumni of this program, so morgan stand up. [applause] >> thank you. so, i wanted to introduce you to those leaders because they're the people that makes this all happen for this. this year we have 24 interns and during my time here, we have had hundreds of young people that have worked with the police department, learned some new things but more importantly, hopefully we have helped them get the skills they need to do whatever it is they want to do in this world and in this life because i do think as the mayor said that anything is possible. i never would have thought i would be standing on this stage in chase center as a chief of police when i was 15, 16 years old but here i am. and that's, thank you. [applause] and really that's because somebody believed in me. somebody gave me an opportunity. somebody gave me the chance to make good on what god gave me and that's what we want for you all, so again thank you and thank you to director davis for all the work that she's done with us, with the police department to make our city

>> morgane stapleton: it was very much a... a "whoa." he's so powerful. just the sheer volume of his voice is just-- it-- he doesn't need a microphone in a room that's quiet. it's powerful. >> alfonsi: but morgane says chris never craved the spotlight. he was happy writing songs for others and enjoying his side hustle playing in bands. still, his powerful voice was gaining legend around nashville's music row. at age 33, already a ten-year veteran of the country music scene, universal music group offered him his own record deal. morgane had to convince him to say yes. you didn't jump on it right off the bat because of what? >> chris stapleton: oh, i'm suspicious of most things. it's just part of my personality. >> alfonsi: it is? >> chris stapleton: yeah. >> alfonsi: what were you suspicious of, they were going to tell you t-- >> chris stapleton: i don't know-- >> alfonsi: like, shave your beard and get a spray tan? >> chris stapleton: yeah, maybe. i-- i don't know. just-- my answer back was, "okay. i-- i'll do this. but-- i'm going to need to, you know--

morgan all saying 75 is likely. all manner of questions about the fed's credibility when it comes to inflation forecasting, the fed trajectory for interest rates. for now, there is a shock coursing through markets and the fed seems to be on track for a 75 basis point move. dani: money markets pricing in a 4% terminal rate for the fed. what would be the implication of getting to 4%? enda: obviously, you have the u.s. domestic implications, that is the obvious spillover to consumers. consumer confidence, demand for the u.s. economy and whether or not they can manage a soft landing or a recession. globally, you have big transition area effects through markets and exchange rates. that will pressure central banks in emerging economies to respond with interest rates of their own. last week, a warning we were teetering on the edge of a long period of stagflation. other emerging markets have rates to catch up and we would be looking at a prolonged period of rate hikes. dani: enda curran, thank you very much, in hong kong. s

under morgan, england's performance was transformed. they won the 2019 world cup and reached the top of the one day rankings. morgan said it "hasn't been an easy decision" but "i believe now is the right time." the population of england and wales has soared to a new high of almost 60 million in the past decade. the results of the 2021 census show the population has grown by more than 6%. the survey, which is carried out every 10 years, asks people to answer questions about themselves, their household and their home to build a detailed snapshot of society. our home editor, mark easton, has been having a look at the results — what do they tell us? where were you last year on march the 21st? the number of people who answered that question with england was 56,489,800. experts had thought it would be higher. 57 million was the official projection. in wales the population was 3,107,500, also a little lower than expected. add in northern ireland which published census data a few weeks ago and the best estimate for scotland, their census resu

jp morgan's jamie dimon once a investors to prepare for an economic hurricane ahead. he says that it is right down the road, brace yourself. manus: it is a more dire warning compared to his previous comments. a couple weeks ago, there were storm clouds hanging over. on the other hand, he remains positive on the economy and markets. we have to patch it -- take down the hatchet. where you think diamond, the king of wall street is on a dramatic tip? >> the article, we expect it will be transitory inflation -- were basically now we are seeing that battle with hiking rates and a slowing of the global economy. in that sense, what we are seeing is banishment from growth. if that is the target, 3.5%, i think it can be more given or inflation is. -- given where inflation is. dani: does it then make sense that storm clouds are on the horizon? does that factor in right now? saed: i do not think so. i think you have to look at two things. we are looking carefully at the impact, the lockdown in china, european sanctions on russia as well as the oil embargo from russia. val has an

morgan. he wrote a book in 1877 called ancient, the title is, it's a 19th century book, so the title is forever long. we just call it ancient society. and basically, what he's talking about through kind of studying kinship relationships and such is that all societies move through a uniform and identifiable path into civilization, from savagery, to barbarism, to civilization. and savagery, he identifies as kind of that hunter gatherer kind of lowest rudimentary level of technology. very little in terms of hierarchical social organizations, but it's the start. in his mind, it's the most primitive. and then you move into barbarism, which you might see as analogous to bronze age technology, right? the use of, you know, smelting technology to create, first of all, iron tools and then into bronze, then more intricate social organizations. more sedentary lifestyles. his vision of how this works it is based in technology, but then also in sedentary life. so, for hunter gatherers to more permanent soc

banks such as jp morgan, morgan stanley and goldman sachs, could handle a severe recession. in the u.k., consumer confidence dropped to a record low this month. rising prices, a squeeze on incomes and disruptions from strikes took a toll on the national mood. its measure of sentiment fell to 41 in june, the lowest reading in the 48-your survey. 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 am rich cowen group top. this is bloomberg. -- i am ritika gupta. this is bloomberg. ♪ >> it is unconditional, our commitment. the reason is that we need to, in a particular situation, we have a labor market that is unsustainably hot. we are very far from over inflation target. we really need to restore price stability and get information back under 2% because without that, wound not have a sustained period of maximum employment. tom: jerome powell on his unconditional focus at 10:00 a.m. this morning, the university of michigan survey on inflation expectations. it is not a boring friday. t

you are talking about morgan stanley's call when it comes to the depths of the bear market. analysts are using -- our dear e -- analysts are deer in the headlights. fundamental company analysts are sitting there like deer in the headlights, not knowing what to do with these numbers. we do not get a recalibration. we are familiar with optimistic forecasts from wall street. this year we have seen increases in their forecasts. even with all of the talks of recession and inflation issues. kathleen: you wonder if it is easier to let your hope overcome your skepticism. say what you want to hear and everybody else wants to see. goldman sachs today also putting out a piece saying that they think the market is underpricing their risk of recession and they are recommending for people do a futures trade the looks at a yield curve flattening. the talk about the fact that markets have priced out as much of the fed rate hikes, they thought there'd be a terminal rate of 3.5% in 2023. the terminal rate i think with the doctor telling you will be about 3.75% in 2023. look at the dot. markets

let's focus on why jp morgan has made the change. they are looking at the university of michigan survey we had a few days ago showing americans' expectations for inflation are rising. there are calls out there for a 100 basis points move. jp morgan not calling for that. the chief u.s. economist says it is a nontrivial risk. we see similar moves in the markets as well. traders pricing for 200 basis points of moves over the next three meetings, 75 basis point hikes twice and one half point move. the high inflation print putting this narrative of peak inflation, peak hawkishn ess. haidi: shery: peak yen weakness. one bank says it looks undervalued against the dollar. annabelle: this is an interesting call because we have seen this extreme weakness in the dollar yen but they say it is not at fair value. they are looking instead at the push higher we are seeing in treasury yields. the fair value for the yen against the dollar should be 13618. the reason we are not at that level according to credit agricole. they say it is due to the verba