You know what, it is a reprimand from the Federal Reserve system and the office of comptroller. That is what is speculated. Francine this is what is getting a lot of attention today. Later on bloomberg, we will hear from ray dalio, bridgewater founder and chief executive officer, at 2 30 p. M. In new york, 7 30 p. M. In london. Lets get to first word news with ritika gupta. Ritika the west coast wildfires have become a campaign issue. President trump and california state officials sparred over whether Climate Change is contributing to the blazes. The president insists that poor management is the culprit, joe biden called him a corporate arsonist. Mexico, the hurricane has now been downgraded to a category one mexico. Sally will make landfall tonight or early tomorrow, but where is difficult to say. Hurricane warnings extend from new orleans to the florida panhandle. There he kaine is feared to bring deadly storm surge and flooding. Boris johnsons lawbreaking brexit bill has cleared its
China is doing better than good. We get a nice lift. To your point, i cannot remember a fed meeting where i have been more distracted by other news. Jonathan because the other news matters more. At the moment, the Federal Reserve is basically done when it comes to the framework shift. We have seen that. When it comes to the Balance Sheet, we have seen a huge expansion. Butink there will be tweaks for many people, the most important catalyst is physical. Tom it is physical based on week demand. I can or where i saw this. I will give axios credit. It was a food bank in richmond, automobile, car, by and it looked like field of dreams the line of cars went off into the distance and it was shockingly sad how people were lined up to get food, having that much difficulty. Jonathan could not agree with you more. Were living in two worlds. The old world is struggling. Love the we see our place, particularly in the airline business. Airbus talking about the prospect of more than still to come. T
Optionality. It is hard to see with the positive category is for markets today. This is bloomberg surveillance. Manus live from new york city this morning, for our audience worldwide, this is bloomberg surveillance alongside tom keene and lisa abramowicz, im jonathan ferro. Builds up, stocks down in the fx market. Tk, eurodollar, 105. Tom you go wow when you see a number move. I did a hat trick. It is wow wednesday across assets. Where do i begin . I begin with the real yield and the effect on the fx market. I never thought i would see this this quickly. Lisa are people getting a little over there skis here . There was two outcomes. Where was the base case of a consumer that was running out of money and potential for a recession . It seems to be off the table and some of the expectations even as we see signs of true weakness. Jonathan melted in terms of the objective of what this Federal Reserve is. I think we are at that point where we are starting to fully internalize this high for l
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