jamie, how you doing over there? >> jamie: i'm great. >> greg: your far away. [laughs] >> jamie: i wish there were wills on this thing. i smacked >> greg: when you make of this misinformation, what is it called? it's a board. a government. >> jamie: i was so excited by elon musk that i thought everyone would be excited and which is so disappointing and is remind me at the hunter biden laptop thing is insane and i will say that it did give me a little bit paranoid dismembering that story like i get so paranoid about my laptop on if you do this, i was put a little piece of black tape to cover my. [laughs] [laughs] [laughs] >> harris: 's in real life are projected on the screen? it is at the same? >> jamie: just so everybody knows it's me. i'm legitimately excited about elon musk on twitter. the hardest part of the contractors. down to 280 characters. >> greg: ou. went from a beautiful joke. >> jamie: can i try to recover with one more? >> greg: yes. >> jamie: i feel like a rich guy doing big things ready to watch. because elon musk he's got a few money, someday i

jamie says that pelosi handed him a lifeline. when she asked him to do that he he says that he was so swamped by agony and grief that he didn't know if he would ever be able to do anything of meaning or substance again in his life. and those of us who know him can see that he's done lots of things of meaning and substance in the last year. on february 13th, 2021 the senate acquitted trump. in a 57 to 43 vote was a bipartisan vote with a majority. with the majority voting to the word convictions convict that's an important word the majority. the majority voting to convict but that was not the supermajority that was needed. then jamie began spending his sleepless nights. writing unthinkable the books is a love story to tommy and to our constitutional democracy. and it ends with a lovely moment of hope and i've asked jamie to read it. it's just a few paragraphs of the very ending of the book. and i just think this this sums up. so much of jamie's love of both tommy and and our constitutional democracy. all right. hello, annapolis. h

how did jamie dimon do it? how'd he delivered 14% total return per year in this fractured bull market? ken: we are talking about great management. great to be here today. jp morgan will continue to outperform its peer group over the next few years. the worry is the outlook for the next quarter and the rest of this year. to your point, the balance sheet has been the calling card for jp morgan to endure in the toughest times and outperform in the best of times. tom: i see ken leon, something about fortress income statement. when in doubt, cut costs is the mantra of banking in america. are we going to be surprised over the next coming days with cost sensitivities? ken: there are new forces underway, disruptors in the market from fintech. when jp morgan's stock went down that's because jamie dimon was going to double up and inves in hiring people and technology. that will be a delicate dance he has. it is a bank that has to keep its pulse on the future, which means investing in technology and boosting operating exp

jamie: yeah, gen z is really driving it. just in 2021, 8% of gen z bought online and one third of them started selling online last year. in re commerce really aligns with their values. if you think about that demographic, they really want to make sure that they are finding unique, interesting items and importantly they really care about sustainability and how important that is. that is why this is so them for that generation and we are really leaning in to support that. emily: they are also typically more price-sensitive. how are they responding with forty-year inflation? jamie: not just gen z, it's across-the-board. katie 2% of people have been selling secondhand goods over the last few years and when you think about high gas prices, ebay is a great place to turn to to sell your pre-loved items. the average household has $4000 of items they could sell and less than 20% of that is online. in there's amazing value there. take our certified refurbished. if gen z needs a new laptop, they can purchase a certified refurbished pro

it is that time of year again for jamie dimon's annual letter. this one was a bit shorter than last year's 65 pages. this one was 44. it definitely was not as rosy of an outlook. last year he was saying this boom could run until 2023. there could be a goldilocks moment. this year he was really digging into the various crises facing the world right now, and the war in ukraine is definitely high on that list. kriti: something else he mentioned was the federal reserve. he said this tightening cycle is unlike any we have seen, and that there are a lot of risks when it comes to the fed simply navigating it. can you walk us through his perspective on that? reporter: what he said was that in hindsight, all of the fiscal and monetary stimulus in 2020 and 22 anyone is probably too much for too long. bank executives don't typically criticize the fed, and i don't think that was a criticism per se. he said fiscal and monetary. but it was definitely an interesting perspective. he also said that if the fed gets this right, the economy could be in really good s

in terms of what jamie has taught me, howard and jamie have taught me different things. obviously i have been with howard a long time and i think he molded me as a person in terms of my professional self from watching him, especially for so many years and so up close. with jamie, i haven't been there as long. but what i can say to you is i have learned, without a question, how he has put a without world-class team around how him to run an extraordinarily complex business, and at the end of the day, you are only as good as your people. i think that is what i see and what i have learned from jamie. david: another initiative you have been involved with is will getting jp morgan and all others to invest in minority-owned businesses. how is that going? mellody: the initiative is really targeted at the growing sustainable minority businesses by bringing two things together, capital and customers. you we think people when they talk about growing minority businesses, they often over rotate on this idea of access to capital. we think access to customers are just as important. thi

and they're changing it's kind of jamie dimon against the world. he's talking about competition, not just from banks but from non-banks, neobanks, and shadow banks which are twice as large as the u.s. banks. remember, these are all nonregulated competitors, so jpmorgan is spending, buying, and paying whatever it takes to compete on all events. they say they want to be an international digital consumer bank on defense, they say they want to make the ship tip top shape, unquote, but they'll still have likely the greatest expense increase in history, so the devil is in the details. so we need more information. revenues, returns, and key performance indicators for all this spending. we have one of the low estimates on the street for the year for jpmorgan, and for morgan stanley, the transformation with their deals, e trade, the engagement has fallen off and with the bond fund outflows have been happening for the industry as a whole, we think jp morken and morgan stanley don't look as good as investors think they do. we would prefer being with the likes

jamie dimon, obviously the rest of the crew. talk to us a little bit about what we heard about volatility. because jamie dimon and the rest of the team went through a whole range of issues, and if you pull them altogether, how much visibility do they have as to what comes next? sonali: that is a great question, because there is not a great sense of volatility being good or bad for banks and the market at large. we have talked about this before, the idea of gapping volatility will keep clients on the sidelines. one positive note is that jp morgan did say a lot of carnage in the hedge fund sector on the buy side see jp morgan saying there is money to be spent among clients and they are working to make markets. kriti: we talk about the war in ukraine, a lot of people are saying it is a europe story in terms of how much is affected in terms of going into recession. the united states affected by higher commodity prices. jamie dimon saying the sector can weather all of this. you have jp morgan coming out and creating these huge loan l

i think we know that you mentioned before jamie dimon and a tornado. i think we're in the middle of a tornado. we know we're in the midst of a tornado. a lot of the things he's mentioning in terms of the persistent volatility, that's aware to us. we've seen the downside. i don't think we are springing forward above new all-time highs exactly to your point. because i think there are so many challenges ahead here for in federal reserve and i think the federal reserve probably looks at this 9% plus bounce for risk assets and sits back in their chair and says oh, wait a second i thought we cooled off a lot of the ferver surrounding risk assets that's probably going to keep us in this position where we're in a little bit of a consolidation running in place i think take the words risk on and risk off and forget about it this year. i think it's more about rotating i think the market now is rotating i think there's an internal rotation away from a lot of the cyclical value and it's going back towards a defensive find. going back towards the growth and really c

i think jamie dimon was very right that you could have it both ways. tom: doug kass will be joining me later and he is heated about the tone of the dimon letter with the technology that jonathan ferro mentioned. -- the end of technology and the internet, the ethernet culture. his j.p. morgan at risk of being so dominant that nobody else can win? marcus: that has for sure been for quite some while. any of the decent ones tend to get snatched up. there is a much a risk of that, and we should be very aligned to that risk. j.p. morgan has the muscle and the money to spend. normally you can keep throwing money at it and j.p. morgan has -- and that will benefit exponentially more as we have to watch out for that risk. jonathan: it would be rude not to ask you about the ecb and what it might mean for the banks in europe, to get back to zero on the deposit rate. how big would that be. ? marcus: it would make me very happy man. i am a big fan of negative rates , just being paid to borrow in europe, it is just madness and the whole loan dynamic, you need to have

jamie dimon gives us too much. i thought pvh gave us too much optimism versus what i see in a apparel. i don't get it [ openingbell ] i put him on because he's so driven i never put cfos on. it's a big coupe for both. now they said why didn't paypal -- why didn't they affirm their guidance so you don't think that something is wrong. he's going to stay on for a couple of months no by the way, businesses, like we said,no they said business was going to get good next year and businesses go back to the old growth rate. and plus 20 the stock is very cheap. and then he subsequently missed the quarter that he promised i'm doing a lessons learned. a lessons learned i shouldn't waive it for 23. i had a chance to bolt and i didn't it's a big mistake when they see the power. that's bad and that i have no excuse for not selling that i thought i could ride through. >> no. right. you get down to this level and it's like really am i going to do it down. >> yeah. that's what i said what is the point? the whole point it's awards it

jamie herself works as a director of a climate organization and was very aware that there would be a point when they didn't feel safe in san francisco. >> “even i who am very kind of climate alarmed, i would say, even i was surprised how quickly thing unfolded and how quickly it felt like moving was the best option for us.” >> scientists have mapped out the places that will be most vulnerable to the climate crisis. this is what brings the story back to duluth. this small city's not only well located, but it also sits on th. these factors make duluth a magnet for climate migrants from across the us. >> the ones who have actually come here and moved or invested have been north carolina, california and utah, is another couple that i'm working with right now. >> realtor and longtime resident karen pagel guerndt says she's seen a growing trend of people calling her looking for a house in duluth. but one thing is clear: climate migration is a choice only affordable to the wealthiest in society. jalonne white-newsome is climate justice advocate whose work focuses on the inequality withi

jamie dimon spoke about the challenges ahead. jamie: that's another huge cloud on the horizon. we are prepared for it. we understand it. i hope those things will all disappear and go away and the war is resolved. i wouldn't bet on all that. dani: let's get more with charlie wells. jp morgan trading at the lowest since february of last year. what drove that disappointment? charlie: a bit of a next bag. jp morgan, the largest bank in america by assets, was forced to contend with a lot of these macro challenges going on in the u.s. right now. questions about the fed. how quickly is the fed going to act? questions about something that happened in q1, russia invading ukraine. that through a lot of uncertainty about sanctions, trading and that deal pipeline that we have heard so much about going into 2022. looking at some of the specifics, let's start with the bad. we had profit dent 42% -- down 42%. we had that $542 million loss. we also have $900 million set aside in case of loan losses going forward. that is a bit foreboding, but there was some good. trading in some areas beat exp

tickly deep says jamie dimon. jonathan: competition is coming from all sides. we will talk about that all morning. on the nasdaq 100, up 1/3 of 1%. a 98 handle on wti crude. kailey: that does not at all reflect the risk in the oil market. china has covid zero policies and at 7 a.m. eastern time, the meeting in luxembourg and we expect the finance ministers to start arriving in an hour and we will talk about the macro economic nichter for europe and the war in ukraine is front and center and has provided inflationary force and growth risk for europe especially as there is discussion of ratcheting up sanctions. also a kind of fiscal report -- policy they may warrant. at 10 a.m. eastern time, factory orders are expected to fall 6/10 of 1% and we will get the final read on durable goods. finally, we are on payment watch for russia's dollar bond. this is coupon and principal payments due today. they fought back about 3/4 so watch to see if they stay current on their obligations. they have but it's a complicated process and it could get much worse on may 25. jonathan

yet at the same time if you listen to jamie dimon, the ceo of jpmorgan on his quarterly conference call today, he told a much more down beat story. frankly, i found it borderline frightening. in particular he had some very discouraging comments about the war in ukraine take a listen. >> i pointed out my -- usually words don't necessarily affect the global economy in the short run, but there are exceptions to that this may very well be one of them >> then jamie goes on. >> i hope things don't disappear and go away and the war is resolved i just wouldn't bet on all of that >> i just wouldn't bet on all that not encouraging. now, both of these guys could be right. he's shocked to see how strong they are plus, he's noticing they have little to no resistance to higher prices, something he can't recall in the history. i think a lot of people, come on, they're desperate to travel now that it's safe you've also had a ton of delayed weddings that be held. now, when we had -- oh, man, when we had jpmorgan's matt boss, the best retail analyst on the show the other day, he said the consumer's quite

jamie dimon's annual letter is always hotly anticipated and this year a lot of focus on inflation in the fed. here is the quote from the letter we wanted to highlight, jamie dimon does not envy the fed for what it has to do next. the stronger the recovery the higher the rates that follow and if they get it right we can have years of growth, but at the end of the day this process is going to cause lots of consternation and very volatile markets and at the end of the day i guess that's where we are right now. to wait -- have we waited too late into the process to get started? matt: seems like almost everybody thinks we waited too long. maybe brad doesn't think that. most voices are saying that this is an own goal. on their own part of the fed where they put themselves into a difficult position, which is why jamie dimon has pity for jerome powell and the question is, can they engineer a soft landing at all now? or is the only choice to give us a hard landing that isn't too painful? we definitely expect a couple of 50 basis point rate rises coming in the near term. jon: lots of that comi

jamie dimon also said the u.s. consumer is in great shape and probably able to withstand some level of rate increases and the rise so far has been very significant. i would say the prospects for banks is generally favor as long as the economy doesn't get them into a recession. maria: all right, mark, great to get your insights, thank you so much, we will talk soon. have a good one. thank you. >> thank you. maria: we are getting started this morning. see you soon. coming up crime in america out of control. we are breaking down everything that you need to know about yesterday's attack on the new york city subway. how to stay safe? then mockery at the border. migrant snapping selfies as they illegally cross into the country. the very latest plus i'll be speaking with new york gubernatorial candidate of migrant flights plus trump plul media devin nunes. mornings with maria live on fox business. ♪ ♪ ♪ ♪ we could walk forever ♪ ( ♪♪ ) ♪ walking on ♪ ♪ walking on the moon ♪ ♪ some ♪ ♪ may say �

i was like, dude >> jimmy: you're jamie - >> try being me, man [ laughter ] jamie, face of calvin klein, billboards in new york, sort of six pack i was like - >> jimmy: please, yeah give me a break. >> cry me a river. >> jimmy: a river, yeah. also -- i read something that robert pattinson was saying because he was promoting "the batman." and he was saying -- he would go to auditions and sometimes you're in the audition and there's someone in the room ahead of you auditioning and either get applause or get a a big reaction and it makes you nervous. 'cause you're like, "i've got to follow that?" and then the door would open, and you would come out and he'd be like, "oh, wow, you killed it again, buddy congrats." >> he's not doing too badly is he >> jimmy: no, he's not he's doing okay. >> the thing about rob and it was interesting, 'cause this whole bunch of us and there was charlie cox, tommy sturridge -- a load of us who all have remained really good buddies but each of us had our own kind of audition technique. and rob and tom's was always like whatever the scene appears to be on the pa

. -- >> new text messages and new filing from the january six committee, tonight, congressman jamie raskin on new revelations about the secret service, why mike pence refuses to leave the capitol with them and we are learning from thousands of text messages from trump's chief of staff, that showed refresh some fading memories. >> did you advocate for president trump to impose martial law as a way to remain in power? >> i don't recall. >> then, big new fines for donald trump as he is held in civil contempt in new york state. and what we know about the top tier biden officials making a big show of support and war torn ukraine. all in starts right now. good evening from new york. i'm chris hayes. we have a whole host of explosive new developments about the attempted coup on january 6th. and a member of the house investigative committee, congressman jamie raskin will join me to talk about all of it. because today, as you might have seen, we learned about a trove of tax to and from trump 's chief of staff mark meadows, dating from election day 2020, to the last days of the trump administration.

. -- >> new text messages and new filing from the january six committee, tonight, congressman jamie raskin on new revelations about the secret service, why mike pence refuses to leave the capitol with them and we are learning from thousands of text messages from trump's chief of staff, that showed refresh some fading memories. >> did you advocate for president trump to impose martial law as a way to remain in power? >> i don't recall. >> then, big new fines for donald trump as he is held in civil contempt in new york state. and what we know about the top tier biden officials making a big show of support and war torn ukraine. all in starts right now. good evening from new york. i'm chris hayes. we have a whole host of explosive new developments about the attempted coup on january 6th. and a member of the house investigative committee, congressman jamie raskin will join me to talk about all of it. because today, as you might have seen, we learned about a trove of tax to and from trump's chief of staff mark meadows, dating from election day 2020, to the last days of the trump administration.

you mentioned jamie dimon. i think one of the greatest bond ticks, rumor when -- were number when jamie dimon committed the market and bought jp morgan stock, and basically on the day it was at the bottom? tom: i think it is the story we mentioned with diane swonk the other day in chicago, sort of put out there by others, what he did, and mr. harrison was there at the bank, and who is this jamie dimon guy? what is he going to do for us? as you say, he built it up. what is important is he has had to reset about four times. that is tough to do. jonathan: it has been about 15 minutes and we have not and should twitter. dan ives coming up on twitter on "the open" on bloomberg tv. on the nasdaq, we are down 0.6%. you like the final word? tom: no, i just think you ought to mention meta. jonathan: meta out after the close tomorrow. i can hardly wait. after the close today we hear from microsoft and alphabet. tom: is your 9:00 hour going to be twitter free? jonathan: until 9:30, and then at the opening bell we will get

jamie: we're certainly seeing the business grow and hope it's on many different levels. security is something we provide but also peace of mind. a delivery driver found an elderly woman who had dementia walked her back to the house and no one was there and used the ring to contact the residence that live there to help the family. i think security, certainly. we all see it and is something that's happening and ring has been, as we say, hopefully a part of helping make it more secure but also these other things as well, lost pets and even helping people and their families. romaine: appreciate you taking time to be with us here. hope to have you back some other time where we can talk more freely about the business, jamie siminoff, c.e.o. of ring. we're awaiting a briefing from local authorities about the status of the search of the shooter this morning. this is bloomberg. no ♪ romaine: keeping you up to date, first word, i'm mark crumpton. some viewers may find this footage disturbing. new york city shooter remains at large after 16 people were injured at a subway station

congressman jamie raskin joins me live. and old home week in the east room, barack obama's return to the white house. >> thank you. vice president biden, vice president -- [laughs] that was a joke. >> all in starts right now. good evening from new york, i'm chris hayes, a democratic president is now poised to put a justice on the u.s. supreme court for the first time in more than a decade. as soon as this week, judge ketanji brown-jackson will be confirmed to the court with bipartisan support. and that's despite the best efforts of some senate republicans who try to essentially assassinate judge jackson's character by painting her as sympathetic to child abusers. the behavior by republicans in the u.s. senate, particularly the hearings, have been disturbing. shocking language and rhetoric used to politically smear by people who know better. >> i want to make certain that we protect children, and that we continue to do our best effort to protect children. i also want to make certain that we are going to have judges on the fe

jamie, you have a lot of it. first, give the context of this. >> so for context, the january 6th committee has released a few of these before. a few text messages. also cnn has obtained and published some others before. but what we have now are all 2319 text messages that mark meadows voluntarily handed over to the committee. the messages really give an extraordinary glimpse at how meadows was doing trump's bidding. how they were trying to overturn the election when they knew that there was no widespread election fraud. remember on december 1st, their own attorney general bill bar said there was no evidence of election fraud. but this shows what they're doing and saying behind the scenes in realtime. even when they know otherwise. let me just tell you the text messages include messages from trump's family, donald trump junior, ivanka trump, jared kushner, as well as white house and campaign officials. rudy giuliani, hosts from the fox media. lots of gop activists. rally organizers and even people like my pillow c

jamie raskin from serves on the january six committee and he joins me now. it's striking at the end of the list, congressman, at the end of it it seems a lot of people very close to the president have cooperated with the committee given testimony. >> nobody wants to get left behind because the truth is coming out in the way that it's supposed to in a democracy and it's kind of the way you journalists operate saying we'll have everyone else speaking to us, but not you unless you decide to come forward. it's like a woodwork -- [laughs] exactly no one wants to get left on the dock, you know. but the truth is the whole country now knows the basic outline of the story. we don't know exactly when every single person was doing at every moment, but we know that there was one line of attack which was a violent insurrection unprecedented and our history injuring wounding hospitalizing more than 150 of our police officers and interrupting the peaceful transfer of power for the first time in american history. as they shut down at the counting of the counting of the elec

you do not want jamie risking the balance sheet on a whim. he's underpromising and overdelivering and read through from the bank, in my humble opinion, they will learn from what jamie said that has the markets nervous about the space right now and they're going to adjust those earnings call comments accordingly i do believe that there is an opportunity in the options sector overall i do also believe that there is safety in the numbers. so those bigger banks are going to do well those banks with a diversified business mix are going to do well because they can make money even though we're seeing some challenges in some areas of those banks. goldman sachs, again, we talked about it goldman sachs, i think they are going do well and even with the capital market coming in on the underwriting trading is a hugs are. they diversified into wealth management and they have's multitrillion manager on what that looks like. this morning "jim treader and look at those places where you can invest in high-quality management team and businesses that will have a

jonathan: jamie dimon said the stronger the recovery, the higher the rates that follow. the stronger the quantitative tightening as well. a lot of people are worried about a replay of late 2018. we are never what happened in 2018. the primary market shut down in high yield. when you look at supply coming in, how does that stack up at the moment? matt: dimon said he did not envy the fed. i don't think he envies bond managers right now either. high yield is down roughly 75% year-over-year, a lot of yields getting done in the loan market and there is tremendous demand for bank loans and then the high-yield market, prices are really difficult i don't know the companies are looking to figure out where they would have to price versus the ig market where you just have $230 billion issued in the month of march, the second-most in history and to your point, credit spreads were actually able to tighten from the back half of march. a lot of supply being issued. we are really flooding the market. i think it is a good sign that you are seeing a lot of issuance. the markets functionin

jamie broughton has more. the four—time world champion mark selby is one of the toughest competitors ever seen on a snooker table. but recently, he's faced a different battle — the leicester sartre has been suffering from depression and took a break from the sport to get help. aha, depression and took a break from the sport to get help-— sport to get help. a lot better than howl sport to get help. a lot better than how i was. — sport to get help. a lot better than how i was. i've _ sport to get help. a lot better than how i was, i've been _ sport to get help. a lot better than how i was, i've been working - sport to get help. a lot better than how i was, i've been working with l sport to get help. a lot better than| how i was, i've been working with a doctor in london who's been brilliant and has helped me a lot. i've been working with him since january when i announced on social media. ifeel like i'm in a better place, i don't think i'll ever overcome it, isjust a matter of managing the triggers when

i love jamie, i love to hear what jamie has to say about the economy and all that but that was a surprise to me. and this has me worried because i own i number of bank stocks. bank of america are we going to see the same oci hit sometimes the market reacts to the same news over and over again even though now we should all expect we're going to see this kind of charge again. so i am long citi i'm long, bank of america is my biggest position i am long wells fargo. i think we'll see more of that hopefully the market won't continue to punish it. at some point i will buy more jpmorgan. >> guy, traditionally we see banks move together basically out of the gate, or first two out of the gate and then they sort of separate from each other, do you think we'll see that here? or what karen's saying, again, and again getting punished. >> i think you'll see banks separate karen mentioned the hit to book value. tangible book people were expecting for jpmorgan 72 and change it came in 69 and change, doesn't sound like a big deal, it happens to be a big deal, especially when valuations are in the cross ha

jamie dimon is putting his money where his mouth is. they are citing the war in ukraine and higher inflation and putting aside the special reserve of money to cover itself. jamie dimon did not expect a recession this year but he acknowledged that there were storm clouds on the horizon in inflation and because of the challenges presented by the war in ukraine. you also knowledge that the consumer is in good health and that they are starting to see a bit of a bounceback in loan growth. >> that is what we saw when it comes to trading and equities. is there a sense of traders and investors are dial back the aggressive expectations of the fed? >> that is what we saw last night. it has to be said that it is probably more as we have the inflation numbers. the earnings season is shaping up as a main focus. what we saw from jp morgan, whether that is going to play out for other banks and other companies reporting given the supply chain, it is worth noting that managers are entering the earnings season but with the most pessimistic outlook on out

-jamie? sorry, i had another thought so i got back in line. what was it? [ sighs ] i can't remember. when my genetic reports told me about my heart health, i was able to take action. and i got a kit for my mom, too, so she can get her own meaningful health info. this mother's day, start a new health journey together with mom with $50 off every kit. (all): all hail, caesar! pssst julius! you should really check in with your team on ringcentral. oh hi caesar. we were just talking about you. yeah, you should probably get out of here. ♪ ringcentral ♪ >>> the president is described in this reporting as frustrated by his low approval numbers. frustrated with fellow democrats were failing to pass dekey agenda items and talking about midterm strategy that involves more travel and more contrast with republicans. the president has lamented how much people have stopped focusing on how bad a state he believes the country was in under former president donald trump. and so his old line, don't compare to the al mighty, some pair me to the alternative has become a mid

jamie dimon sees disruptions from russia's war. the invasion weighs on jp erg and earnings. u.s. futures muted at the open after the s&p 500 rose for the first time in four sessions. tech leading the advance. u.s. treasury yields under pressure today which was really interesting to see, given that we have producer price inflation rising by the most on record. the dollar index also seeing its worst day since march. wti gaining ground. this as the iea came out and lowered its expectations for global demand, given the lockdowns in china. haidi: take a look at how we are seeing the rbnz decision reverberate across these other assets as well. other central banks being put on notice as to the aggressiveness that they might need to move to get the front foot on global inflation. we saw that massive 50 basis point hike to 1.5%, the biggest rate rise in 22 years. he talked about the bank of canada earlier as well. a lot of these commodities -- benefits and inflationary impact being felt as well. we are seeing a little bit of upside. a muted start. a quarter of 1%. the 10 year yield holdin

one of jamie's biggest ener: be hindered. one of jamie's biggest energy firms _ be hindered. one of jamie's biggest energy firms has — be hindered. one of jamie's biggest energy firms has said _ be hindered. one of jamie's biggest energy firms has said that - be hindered. one of jamie's biggest energy firms has said that it - be hindered. one of jamie's biggest energy firms has said that it is - energy firms has said that it is preparing to buy russian gas using a payment system that critics say will undermine eu sanctions. juniper says it will play a russian bank heroes which will then be converted into roubles to comply with the claimant's recent demand that all transactions be made in the russian currency. the european energy firm sitting on the hands of the moment still considering their options amid concern that their supplies will be cut. we can focus a little more on this with sam jones who has been covering it with the financial times. we are struggling to keep up with this, sam. we had a little more on this with sam jones who has been covering it with the financial

. >> by the way, we have jamie dimon. >> oh, jeez. we haven't talked about his annual letter. he goes and talks about what the expectations may be in terms of russia andukraine. the government the right thing it worked. but also in hindsight the medicine, visible spending in qe was probably too much. it lasted too long the fed gets it right. we can have years of growth and inflation will start to recede he goes on to say who knows in a way. u h the feeling of restoration of rh. you need to be more weary if you're investing -- i mean, the take away, if you read this is, well, i have to cut back and i don't know if you meant that happened but it made me feel more uncertain about the role i'm hoping -- is the united states going for a win in ukraine? i mean, are we just settling for the russia being this way russia the size of italy and gdp the size of texas and calling all shots in the war now >> the images over the weekend are unbelievable heart smart -- smarter jpm -- based on better fees. >> right i think it was a good thing. interesting. advanced micron no onelistened i thin

mcmaster, and jamie raskin with the latest on january 6. ♪♪ to "face the nn." we want to continue our conversation wi with fiona hill. fiona, this is really these two personalities, volodymyr zelenskyy and vladimir putin. and it's all about trying to change putin's mind. at this point, is there any succession planned if he is no longer running russia? >> there is always a succession plan, at least in theory, which is something happens to him normally, then either the prime minister or the speaker of the russian parliament would step in and they would have elections. under this current circumstances, there is no way vladimir putin wants to loosen his grip on power. 2024 he is supposed to have a presidential election. in theory, we know he has two more presidential terms he can contest, and that would take him to 2036. he has some staying power. there is absolutely no way he would want to go back any way, or on the back of a disaster in ukraine. >> brennan: so this is solidifying his hold on power, rather than weakening? >> absolutely. but the hold is very brittl

let's start with the succession plan for jamie dimon. >> thanks for having me. j.p. morgan's board close -- disclosed today that they plan to separate the ceo and chairman roles at the next ceo transition, when jamie dimon retires as ceo. what that might look like is, dimon stays on as chairman. it gives more clarity to the eventual post-dimon era, although that remains years away. shery: what were the comments when it comes to sit -- the situation in russia and ukraine? >> jamie had his annual letter come out this morning, that is what he does every year, it was quite long, 44 pages this year. on ukraine, he said, he called for increasing sanctions and said he is not worried for j.p. morgan's exposure but the firm could lose $1 billion over time and they continue to look for secondary impacts around the globe. haidi: hannah, our finance reporter, with the latest. the u.n. report on climate changes warning the world it could warm up. we discuss that with a research fellow, coming up next. this is bloomberg. ♪ shery: g20 countries are responsible for 80% of global a

jamie dimon calling for a slowdown ahead what to watch today? we have ken leon with cfra ken, markets, rates, war, what are the one or two key things that you are watching for the most today >> it is really management worry about run away inflation and geopolitical risk. that sets up the conversation related to the consumer for loans and what ceos think about raising money for m&a or investment ultimately if we are getting a shift back to a higher credit risk exposure. all three of these are being affected as you said, brian, because of the macro back drop >> you heard jamie dimon comments the numbers for jpmorgan chase, ken, the numbers seemed okay not great. okay writedowns reporting on to russia jamie is more vocal than other ceos of the other companies. do you expect these numbers to be good and maybe ceos coming out and putting up a warning flare? >> we are not firing on all cylinders as we did in 2021. obviously the most glaring is the capital markets. the consumer is the one. we are instead of batting 4 for 4, we are 2 for 4 and strength

jamie, do you think democrats are doing enough to fight back? >> well, we have to frame and brand the republican party for who they are, rev. and let's talk about their culture. just as we found out from a young juvenile madison cawthorn, they have orgies and cocaine parties. 193 of them voted against a bill to bring down the cost of insulin. the last time i thought there were diabetics on both sides of the aisle and in the middle. why will you vote against bringing down the cost of insulin to $35 a month for your medicine? i mean, they want to ban books, particularly of black authors and sup press voters and targeting trans kids. rick scott wants to take down social security, medicare and medicaid and raise taxes for working class people time and time again, we have seen the culture and the spirit behind this republican party. they are a party of fraud. a party of fear. a party of fascism and folks, we have to wake up and stand up and not be silent to say that. everywhere we go, church, school, grocery store, it does not matter. we need to let

jamie, great reporting. appreciate it. >> thank you. >>> some of meadows texts putting a new spotlight on gop congresswoman marjorie taylor greene. including one when she brings up martial law that we discussed. more on that, that's next. ( ♪ ) ♪ walking on ♪ ♪ walking on the moon ♪ ♪ some ♪ ♪ may say ♪ ♪ i'm wishing my days away ♪ ♪ no way ♪ ♪ walking on the moon ♪ the mosquitoes are just all over the quiet please. okay. wow! [light bulb breaks] hey! i said get a pro. i did get a pro. an orkin pro. [mosquitoes buzzing] i got you. got mosquitoes? don't call any pro, call the orkin pro. orkin. the best in pests. before i went to aspen dental, i had a lot of infection going on and i was having extractions done on a traditional, regular basis. when terry first came in, he wanted a long term solution, and that's something we were able to offer him. their care, their consideration, their empathy, all of that. i can't say enough about. absolutely hands down, aspen dental changed my li

would you summarize and you don't have to speak for jamie. would you summarize it as worry? he is nervous about it his job is to be nervous he is on a macro level, he seemed pessimistic >> i would agree with that his comments echo what we have seen over last few weeks larry fink or howard marks and now jamie dimon. companies need to rethink the supply chains and alliance do you want exposure in the supply chain with the nation that doesn't agree with the v values of the american way first with the pandemic and now the geopolitical situation it gets complicated when you start doing business with countries that may not have the same ideals as we have here. we've been doing that for decades. it has been fine you start to hear the drum beat from leaders saying it is time to rethink that. for better or worse, that would be inflationary aspect decoupling of the supply chain >> we talked about it. we need new housing in america we could have a shortage of cement because of the supply issue with turkey. leslie picker, we appreciate it. have a great day >>> now this morning's big mon

bank, which is jamie dimon. both have lines right in to powell, and, you know, you can only extrapolate from what they're -- if jamie dimon and fink are saying we have overheated inflation, we've overheated the economy. by the way, jamie also said some of the biden stimulus wasn't called for, that it's clear now it caused inflation. neil: wow. >> which is pretty interesting -- neil: did he say that at the time though? >> that's a good question. i don't think he said anything at the time. neil: right. >> he's been warning about inflation. neil: he has. >> but he clearly thinks we overheated the economy with all that biden stimulus. neil: so talk about more government stimulus -- >> is crazy. but when a guy who has the ear of powell does what he does today, i asked economists, fed watchers, you name it, what does that mean for rates, everybody says it's 50 basis points at this next meeting. now, can i guarantee it? no, obviously, you can't garon guarantee anything. neil right. >> all these ceos, this is something

there are some comments out from jami jamie dimon he said first of all he's pretty optimistic in the short-term and he does say he sees significant geopolitical economic challenges ahead because of inflation, the supply chain issues and the ukraine war. and i guess you have to figure out which side of the ledger are you taking on this you have the federal reserve raising rates but also have the threat of a recession coming, so where do you come down on this, what do you think? >> yeah, look, this stock has really massively underperformed since last quarter remember last quarter they actually increased their expense guidance for 2022 by 9%. and that really made people more nervous and more cautious on the name i expected a mixed quarter i suspect guidance will go higher because of higher rates and credit card data i expect to be very strong haven't gotten all the details yet but that's the positive side the offset would be the volatility that we have seen in the market will hit m & a fees and debt in the capital market with the stock down and trading at 1.5 times book which is really

norah. >> o'donnell: jamie yuccas, thank you. and day two of tiger woods' comeback got off to a rocky start with bogeys on four of the first five holes at the masters. still, we all want to know, will the golf superstar be around for the weekend? cbs' jim axelrod is at augusta national with the latest. >> now driving, tiger woods! ( cheers and applause ) >> reporter: strong winds added another degree of difficulty today to the physical challenges tiger woods is facing. >> four bogeys in the first five holes for tiger woods. >> reporter: his superman- turned-underdog story that's captivated the patrons at augusta national. >> the sport of golf is better when tiger woods is good. >> reporter: has also hiked demand on secondary ticket sellers like stubhub by 20%. he's been mesmerizing us for years, showing ed bradley his skills in 2006. but it just may be nothing tiger woods has done has generated more electricity than what's going on this week at augusta. >> wow! what a shot from tiger woods! >> reporter: michael bamberger is a sen

-jamie? sorry, i had another thought so i got back in line. what was it? [ sighs ] i can't remember. >>> let's get back up to the u.s. capitol, where the house is about to vote on contempt of congress charges. garrett, what is the principle that republicans are railing against to, if this is even a thing anymore, not if you're hypocritical, when they would like to speak to the secretary of state or someone for one of their investigations? >> reporter: it's tough to track. the republican arguments in this debate have bounced around. i've heard it argued that scavino is a good guy, and a dad, and he shouldn't have to go to jail. the argument was made by jim banks, who would have been a member of this committee had speaker pelosi said he shouldn't be a part of the committee. that's one of the arguments. the others go back to where this all started, the idea that the committee is partisan, and trying to deep donald trump off the ballot. your point is a good one, and i talked to some committee members, asking, do you weaken the subpoenas long term if you aren't

norah. >> o'donnell: jamie yuccas, thank you. and day two of tiger woods' comeback got off to a rocky start with bogeys on four of the first five holes at the masters. still, we all want to know, will the golf superstar be around for the weekend? cbs' jim axelrod is at augusta national with the latest. >> now driving, tiger woods! ( applause ) >> reporter: strong winds added another degree of difficulty today to the physical challenges tiger woods is facing. >> four bogeys. and the first five holes for tiger woods. >> reporter: his superman turned underdog story that's captivated the patrons at augusta national. >> the sport of golf is better when tiger woods is good. >> reporter: has also hiked demand on secondary ticket sellers like stubhub by 20%. he's been mess merrizing us for years, showing ed bradley his skills in 2006. but it just may be nothing tiger woods has done has generated more electricity than what's going on this week at augusta. >> wow! what a shot from tiger woods! >> reporter: michael bamberger is a senior wri