President Biden, Mary Daly, Nathan Karen discussed on Bloomberg Daybreak

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Moving higher this morning It is coming up to 5 O one od Wall Street and we check the markets every 15 minutes throughout the trading day on Bloomberg S&P futures Up about 17 points now future is up 52 NASDAQ futures up 99 The bond market is closed today in observance of the Veterans Day holiday Nymex crude oil is up 9 10% or 72 cents at 82.6 a barrel Nathan Karen as you mentioned the bond market is closed today but reaction does continue to pour in to yesterday's read on inflation The fastest price gains in three decades but October's annual inflation rate at 6.2% the highest since 1990 But San Francisco fed president Mary Daly says she still sees the trend as temporary Inflation is high higher its eye popping This is a transitory period That's what we believe That's what I think when I look out at the data but it's directly related to COVID And it's quicker we get through COVID the better off we're going to be as an economy On despite high inflation San Francisco fed president Mary Daly says it's too soon to judge if the Central Bank should move faster to Titan policy President Biden meanwhile says there is a way to curb inflation Nathan the president points to his infrastructure Bill as a fix for high prices This bill is going to reduce the cost of goods to consumers businesses and get people back to work Helping us build an economy from the bottom up in the middle out President Biden plans to sign his infrastructure Bill into law on Monday but many Republicans disagree with his assessment Marilyn congressman Eddie Harris as the legislation will not provide immediate relief for many Americans Everybody who goes to the store everybody who buys gas they know that inflation is here I think most people believe it's actually higher than 6% and 7% especially when they go to the store and they look for gasoline And I don't think the president's Bill I don't think his infrastructure Bill is going to do anything to make it better in the short run Marilyn Republican congressman Andy Harris spoke with our Washington correspondent Joe Matthew on Bloomberg sound on Catch the program weekdays at 5 p.m. eastern on Bloomberg radio As The White House looks to tame inflation Karen it is making tangible progress on another front the U.S. and China have come to an agreement to work together on climate change The deal comes just days before a summit between President Biden and Xi Jinping and we get the story from Bloomberg's at Baxter This comes as a bit of a surprise as the two have been trading body blows on everything they could get their hands on and China has been bucking coal goals but the statement has the two agreeing to boost their efforts to cut emissions including tackling methane and illegal deforestation U.S. climate czar John Kerry acknowledging differences but on climate cooperation.

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