FROM NEW YORK CITY FOR OUR VIEWERS WORLDWIDE, I’M SCARLET FU, BLOOMBERG REAL YIELD STARTS STARTS NOW. COMING UP, HOTTER THAN EXPECTED INFLATION TRIGGERING A GLOBAL BOND SELLOFF. THE YIELD NOW AT THE HIGHEST SINCE 2007.AS KEVIN WARSH GETS READY TO ASSUME THE TITLE OF FEDERAL RESERVE CHAIR. AND A BUDGET BATTLE. WE BEGIN WITH THE BIG ISSUE, A CHALLENGING PATH FOR THE FEDERAL RESERVE.>> THE INCOMING DATA IN THE U.S. HAS BEEN MORE RESILIENT. THAT DOESN'T MEAN THERE'S NOT TENSION. >> WE ARE BEGINNING TO SEE SOME ...