John Tucker, Bloomberg, Amy Morris discussed on Bloomberg Daybreak

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On Wall Street and we check the markets every 15 minutes throughout the trading day on Bloomberg right now S&P futures again little change so we're down futures NASDAQ future is higher up 17 The decks in Germany's up a tenth of up percent Ten year treasury little change held 1.63% They yield on the two year .51% And Nathan All right Karen thank you We begin this morning with the latest on who will lead the Federal Reserve President Biden says to expect that announcement this week Bloomberg's John Tucker joins us live with the latest good morning John Good morning Nathan President Biden was in New Hampshire when he told reporters he would announce his pick for fed chair quote in the next four days A White House source then told Bloomberg the announcement may slip until next week The president is still deciding whether to reappoint J pal or replace him with fed governor Leo brainard Sources say he has ruled out other possible contenders The White House is seeking input from senators to ensure either Powell or brainard would get enough votes for confirmation Live in New York I'm John Tucker Bloomberg daybreak John thank you Well as we wait for a decision on the fed we're also getting a warning from Janet Yellen the treasury secretary said the government risks a default if lawmakers don't raise the debt ceiling by December 15th That's when the new infrastructure Bill requires the treasury to transfer a $118 billion to the highway trust fund Congressional leaders have not disclosed a plan to resolve the issue Taking a plan might be some action Karen on state and local tax deductions the Senate has a new plan that would fully lift the salt deduction cap within certain income limits and Amy Morris has details from our Bloomberg 99 one newsroom in Washington Senator Bernie Sanders of Vermont says his proposal would set an income threshold for unlimited salt deductions while keeping the $10,000 cap for the very rich They're still negotiating what that income level would be Sanders had floated the idea of about $400,000 as the limit New Jersey Democrat bob Menendez says it could be as high as a half $1 million This plan could replace the self measure that's in the House version of the bill calling for lifting the cap from 10,000 to $80,000 in Washington I'm Amy Morris Bloomberg daybreak Thank you for markets the inflation debate is front and center this morning as usual and fresh data from the UK shows prices surging by the most in a decade to get the details live with Bloomberg's UN pots in London Good morning Ewan Good morning Karen and they think consumer prices rose 4.2% from a year ago in October sharply up from the previous month That was the fastest increase Fast increase than any of the highest estimates of 35 economists in Bloomberg survey a jump in UK electricity and natural gas prices was the biggest factor but rising costs for food restaurants hotels and used cars or contributed with inflation now more than double the Bank of England's targets pressure will be voting for a rate rise at December's meeting In London I'm you and pot split by day break All right you and thanks for inflation concerns aren't holding back stocks the S&P 500s continued to climb since last week's record print on consumer prices but that exuberance won't last According to Goldman Sachs CEO David Solomon I stepped back and I think about my 40 year career There have been periods of time when greed as far out paced fear We were in one of those periods of time And generally speaking my experience says that those periods are not long lived Something will rebalance it and bring a little bit more perspective Goldman Sachs CEO David Solomon made the comments that the Bloomberg new economy forum underway in Singapore today And Nathan U.S. commerce secretary Gina raimondo is also a guest at today's new economy forum She is taking aim at China on the heels of Monday's summit between president Joe Biden and Xi Jinping The commerce secretary says Beijing needs to start playing by the rules They need.

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