government, which place such a large role in financial markets. if you think about central banks all around the world, they all hold huge dollar reserves. us treasury serves. treasury resolves. the actions of what is happening in washington are far beyond just our country or even financial markets. this is not a good look and it is ridiculous we are here yet again, but, yes, this is a time for bipartisanship and here we are again. for bipartisanship and here we are again- for bipartisanship and here we are aain. ., ., ., ., ., ~ are again. fahad kamal, thank ou ve are again. fahad kamal, thank you very much are again. fahad kamal, thank you very much for are again. fahad kamal, thank you very much for your- you very much for your analysis. today italy s prime minister giorgia meloni s government has called a crisis meeting to discuss the flooding in the country s north, including emilia romagna region. they are expected to look at relief measures for the disaster that could co
economists say millions of americans could lose theirjobs, pushing the country into a recession, and there would be untold disruption to the world s financial markets. live now to fahad kamal, chief investment officer at kleinwort hambros. welcome. thank you for being with us. let s pick up on that point there, the impact on the financial markets. how is this impacting on the us markets christina well, i mean, it would be a massive, massive tectonic shift in would be a massive, massive tectonic shift tectonic shift in our understanding - tectonic shift in our understanding of i tectonic shift in our - understanding of finance. tectonic shift in our understanding of finance. the bedrock risk free in the world is the us treasury. if suddenly that becomes a massive risk, it basically changes our perception of liquidity, of what we consider to be the basic interest rate for markets
fahad kamal is chief investment officer at the fund managers kleinwort hambros here in london. i don t know what your fridge looks like, if you throw things away, do tell. but we are closely watching the cost of food, aren t we? closely watching the cost of food, aren t we? indeed, and my fridae is food, aren t we? indeed, and my fridge is suffering food, aren t we? indeed, and my fridge is suffering just food, aren t we? indeed, and my fridge is suffering just like - fridge is suffering just like anybody else s i suppose and thatis, anybody else s i suppose and that is, look, obviously your previous segment showed that there is royally broad based price pressures, part of that really does them back from the war in ukraine because ukraine is a huge supplier of global wheat, it s a huge supplier of global sunflower meal which is a big input into livestock costs so you can see immediately how the war itself has had quite an impact on food prices since it started and then beyond that
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