1
00:00:00,400 --> 00:00:03,520
Speaker 1: Live from Our Nation's All Talk here in Washington, d

2
00:00:03,560 --> 00:00:07,520
Speaker 1: C turns to President elect Joe Biden's administration, Historically speaking

3
00:00:07,560 --> 00:00:09,959
Speaker 1: the markets that perform better when there is divided government.

4
00:00:10,119 --> 00:00:13,440
Speaker 1: The biggest pressure for physical stimulus is an off taking

5
00:00:13,480 --> 00:00:18,400
Speaker 1: cases Bloomberg Sound On, the Insiders, the influencers, the inside.

6
00:00:18,640 --> 00:00:21,920
Speaker 1: Biden has promised again and again he will unite the

7
00:00:21,960 --> 00:00:25,440
Speaker 1: country's state government's control elections US in the constitution. I

8
00:00:25,440 --> 00:00:29,400
Speaker 1: think that we can expect a smooth, thoughtful, methodical transition.

9
00:00:29,680 --> 00:00:34,160
Speaker 1: This is Bloomberg Sound On with Kevin Shirley on Bloomberg

10
00:00:35,040 --> 00:00:40,160
Speaker 1: Woman and one oh five h D two Enthusiasm, Optimism,

11
00:00:40,320 --> 00:00:45,680
Speaker 1: focus on fiscal Stimulus, the latest from the fiscal stimulus talks.

12
00:00:45,720 --> 00:00:48,919
Speaker 1: We check in with two leading lawmakers all throughout the program,

13
00:00:49,000 --> 00:00:53,120
Speaker 1: including Congressman Tom Reid, the Other co Chairman, Republican co

14
00:00:53,240 --> 00:00:57,240
Speaker 1: chairman of the Problem Solvers Caucus, and Senator Bob Casey,

15
00:00:57,440 --> 00:01:00,840
Speaker 1: Democrat from Pennsylvania. A lot to get through breaking news

16
00:01:00,920 --> 00:01:05,479
Speaker 1: headlines crossing the Bloomberg terminal. President elect Joe Biden holding

17
00:01:05,520 --> 00:01:08,759
Speaker 1: an event with governors, and he says he does not

18
00:01:09,000 --> 00:01:13,640
Speaker 1: think a fiscal relief package will happen today. Meanwhile, back

19
00:01:13,680 --> 00:01:17,560
Speaker 1: on Capitol Hill, congressional leaders are rushing to finalize the

20
00:01:17,600 --> 00:01:20,920
Speaker 1: package in time to attach it to a crucial government

21
00:01:21,040 --> 00:01:24,200
Speaker 1: spending legislation and passed by the end of the week.

22
00:01:24,600 --> 00:01:27,759
Speaker 1: The virus related measure are expected to be worth nearly

23
00:01:27,840 --> 00:01:32,319
Speaker 1: nine hundred billion dollars. We've got sound on that fiscal stimulus.

24
00:01:32,360 --> 00:01:35,920
Speaker 1: Here's the Senate Majority Leader Mitch McConnell. We made major

25
00:01:35,959 --> 00:01:40,520
Speaker 1: headweight toward hammering out a targeted pandemic relief package that

26
00:01:40,560 --> 00:01:45,480
Speaker 1: would be able to pass both chambers with bib partisan majorities. Meanwhile,

27
00:01:45,520 --> 00:01:49,559
Speaker 1: Sedimentary Leader Chuck Schumer asked about whether or not Democrats

28
00:01:49,600 --> 00:01:53,800
Speaker 1: are abandoning their commitment for additional allocations for state and

29
00:01:53,960 --> 00:01:57,520
Speaker 1: local governments. Here's what he had to say. The Democrats

30
00:01:57,560 --> 00:02:00,640
Speaker 1: would have liked to go considerably further, but this won't

31
00:02:00,640 --> 00:02:04,000
Speaker 1: be the last time Congress speaks on COVID relief. We

32
00:02:04,080 --> 00:02:08,000
Speaker 1: also heard the FED Chairman J Powell speak earlier today,

33
00:02:08,320 --> 00:02:10,600
Speaker 1: and he said the Central Bank will continue to buy

34
00:02:10,680 --> 00:02:14,440
Speaker 1: government bonds to help the economy and do whatever it

35
00:02:14,520 --> 00:02:18,720
Speaker 1: takes to prevent a massive economic downturn in the midst

36
00:02:18,800 --> 00:02:21,880
Speaker 1: of the pandemic. Everything we do is in service to

37
00:02:21,919 --> 00:02:24,839
Speaker 1: our public mission. We are committed to using our full

38
00:02:24,960 --> 00:02:27,440
Speaker 1: range of tools to support the economy and to help

39
00:02:27,440 --> 00:02:30,160
Speaker 1: assure that the recovery from this difficult period will be

40
00:02:30,480 --> 00:02:34,440
Speaker 1: as robust as possible. Stephen Dennis joins US now Bloomberg

41
00:02:34,440 --> 00:02:37,120
Speaker 1: Congress Reporter. Stephen, when do you anticipate we're going to

42
00:02:37,240 --> 00:02:41,120
Speaker 1: get the word of that deal? It looks like there's

43
00:02:41,160 --> 00:02:45,800
Speaker 1: a decent chance we're going to get a deal tonight

44
00:02:46,400 --> 00:02:50,480
Speaker 1: and maybe uh, the actual text of the deal a

45
00:02:50,480 --> 00:02:53,679
Speaker 1: little bit later. You know. The problem is is when

46
00:02:53,720 --> 00:02:57,680
Speaker 1: you're trying to put together a multi probably a multi

47
00:02:57,720 --> 00:03:01,480
Speaker 1: tilesand page bill, and to get out of town bill

48
00:03:01,560 --> 00:03:05,440
Speaker 1: for the entire Congress, because every every member of Congress

49
00:03:05,560 --> 00:03:09,040
Speaker 1: wants to leave town on those jets and come back

50
00:03:09,120 --> 00:03:12,519
Speaker 1: January three for the next congress. Well, it's really hard

51
00:03:12,560 --> 00:03:16,880
Speaker 1: to do that when you have every single person wanting

52
00:03:16,919 --> 00:03:21,720
Speaker 1: to have one last inserted bill or nugget or Christmas

53
00:03:21,720 --> 00:03:26,440
Speaker 1: tree ornament added to this thing. So that's what they're

54
00:03:26,480 --> 00:03:30,680
Speaker 1: sort of vetting all all these little details. And the

55
00:03:30,680 --> 00:03:32,600
Speaker 1: thing is that it's all going to be done behind

56
00:03:32,680 --> 00:03:36,360
Speaker 1: closed doors. So until you actually see the text, you know,

57
00:03:36,440 --> 00:03:39,240
Speaker 1: even if somebody says something is in or out, you

58
00:03:39,320 --> 00:03:42,440
Speaker 1: have to add double and triple check, and so that

59
00:03:42,520 --> 00:03:45,600
Speaker 1: I think that's mainly what's going on there. There's still

60
00:03:45,680 --> 00:03:47,920
Speaker 1: like little sticking points that are going to come up

61
00:03:47,960 --> 00:03:51,760
Speaker 1: on as as you actually, you know, as the Democratic

62
00:03:51,800 --> 00:03:56,600
Speaker 1: staffers the Republican staffers are in rooms trading paper to

63
00:03:56,600 --> 00:03:59,800
Speaker 1: to work it out. Um. But you know, the broad

64
00:04:00,000 --> 00:04:04,320
Speaker 1: outlines seem to be pretty well set. About nine hundred

65
00:04:04,360 --> 00:04:08,680
Speaker 1: billion dollars uh, no direct state and local aid for

66
00:04:08,960 --> 00:04:14,200
Speaker 1: like their general fund, and no liability protections for corporations,

67
00:04:14,280 --> 00:04:17,760
Speaker 1: leaving those issues for the future. And with that extra

68
00:04:17,839 --> 00:04:20,719
Speaker 1: hundred one billion dollars they can have those direct checks

69
00:04:20,760 --> 00:04:23,839
Speaker 1: for people. Steven Dennis Bloomberg, Congress reporter, I want to

70
00:04:24,880 --> 00:04:27,560
Speaker 1: zero in on the issue of liability protections. You say

71
00:04:27,600 --> 00:04:30,440
Speaker 1: they leave it open for a later date. Unpackaged that

72
00:04:30,560 --> 00:04:34,720
Speaker 1: for me. Yeah. So, Mitch McConnell for months, basically since

73
00:04:34,800 --> 00:04:39,320
Speaker 1: like April, has insisted that the next time they passed

74
00:04:39,320 --> 00:04:41,839
Speaker 1: the COVID relief bill he would not allow it on

75
00:04:41,880 --> 00:04:45,479
Speaker 1: the Center floor unless it had these liability protections. He

76
00:04:45,600 --> 00:04:48,560
Speaker 1: relented on that about a week ago and said, hey,

77
00:04:48,640 --> 00:04:51,520
Speaker 1: let's just kick this, you know, kick the can on this,

78
00:04:51,680 --> 00:04:54,560
Speaker 1: and on state and local aid, they're too they're too

79
00:04:54,560 --> 00:04:57,719
Speaker 1: complex or two controversial to work out the next week.

80
00:04:57,839 --> 00:05:00,960
Speaker 1: Let's let's go ahead and pass something with up something

81
00:05:01,000 --> 00:05:03,360
Speaker 1: that the Democrats want, which is a Satan local aid,

82
00:05:04,200 --> 00:05:07,960
Speaker 1: and something that the Republicans want, which is these liability protections.

83
00:05:08,440 --> 00:05:10,440
Speaker 1: You know, there's a lot of corporations that want these

84
00:05:10,440 --> 00:05:15,240
Speaker 1: liability protections. There are universities and well liability protections, you know,

85
00:05:15,400 --> 00:05:19,400
Speaker 1: doctors and and and so on. What this means is

86
00:05:19,480 --> 00:05:24,680
Speaker 1: that the Biden administration Democrats will have some leverage to

87
00:05:24,800 --> 00:05:28,600
Speaker 1: get some Republican votes potentially next year for another COVID

88
00:05:28,680 --> 00:05:32,200
Speaker 1: relief package. Mitch McConnell's already said that, you know, he

89
00:05:32,279 --> 00:05:36,880
Speaker 1: expects Biden will seek another package. So, you know, I

90
00:05:36,920 --> 00:05:39,440
Speaker 1: think that that there is going to be leverage here

91
00:05:39,520 --> 00:05:43,520
Speaker 1: because these things aren't done now. Um and in the meantime,

92
00:05:44,040 --> 00:05:47,000
Speaker 1: it means it looks like folks are going to get

93
00:05:47,000 --> 00:05:52,640
Speaker 1: another check now because Republicans are unhappy with spending over

94
00:05:52,680 --> 00:05:54,720
Speaker 1: a trillion dollars, they want to keep it under nine

95
00:05:54,760 --> 00:05:56,839
Speaker 1: hundred billion. Looks like those checks will be more like

96
00:05:56,960 --> 00:05:59,919
Speaker 1: six or seven hundred dollars a person instead of the

97
00:06:00,000 --> 00:06:05,120
Speaker 1: twelve hundred dollars that the Democrats wanted, that the President wanted,

98
00:06:05,200 --> 00:06:09,279
Speaker 1: that that was in that first stimulus package, that still,

99
00:06:09,440 --> 00:06:13,719
Speaker 1: you know, potentially could could shift. Here. You know, Bernie

100
00:06:13,800 --> 00:06:15,800
Speaker 1: Sanders is on the Senate floor trying to get it

101
00:06:16,360 --> 00:06:20,760
Speaker 1: up to twelve hundred. Josh Holley, Republican from Missouri, also

102
00:06:21,240 --> 00:06:26,600
Speaker 1: wanting checks um. So we'll see how that all ends up.

103
00:06:26,760 --> 00:06:29,719
Speaker 1: I mean, if they if they decided to go with checks,

104
00:06:29,720 --> 00:06:34,400
Speaker 1: this thing would very quickly top a trillion dollars. So meanwhile,

105
00:06:34,920 --> 00:06:37,039
Speaker 1: in terms of the politics of this, I was struck

106
00:06:37,080 --> 00:06:40,200
Speaker 1: by this headline on our TikTok on the terminal. McConnell

107
00:06:40,240 --> 00:06:42,800
Speaker 1: told GOP that deal could help in Georgia. The relief

108
00:06:42,800 --> 00:06:46,200
Speaker 1: bill may have implications for the still unsettled fight for

109
00:06:46,240 --> 00:06:49,640
Speaker 1: control of the Senate. McConnell told Republican senators on a

110
00:06:49,680 --> 00:06:54,240
Speaker 1: private call Wednesday that passage will help Republican Senators David

111
00:06:54,240 --> 00:06:57,279
Speaker 1: Purdue and Kelly Leffler, who of course faced the January

112
00:06:57,320 --> 00:07:01,200
Speaker 1: five runoffs. Bloomberg Congressional reporters Steve and Dennis Is that

113
00:07:01,320 --> 00:07:03,960
Speaker 1: true in the sense that the Republicans feel this will

114
00:07:03,960 --> 00:07:08,279
Speaker 1: help them in the peach State. Yeah, I mean everything

115
00:07:08,360 --> 00:07:11,280
Speaker 1: really risks on those two Georgia Senate seats. You know,

116
00:07:11,920 --> 00:07:15,080
Speaker 1: it will determine whether or not Democrats have control and

117
00:07:15,120 --> 00:07:17,720
Speaker 1: Biden gets to hit the ground running and get quick

118
00:07:17,720 --> 00:07:22,040
Speaker 1: confirmations of his cabinet picks and maybe past some sweeping

119
00:07:22,120 --> 00:07:26,920
Speaker 1: Democrat only bills. Well, if Mitch McConnell's in charge, he

120
00:07:27,000 --> 00:07:31,760
Speaker 1: has to ask Mitch McConnell for every confirmation to be scheduled.

121
00:07:31,800 --> 00:07:34,120
Speaker 1: He has to ask Mitch McConnell to schedule a vote

122
00:07:34,120 --> 00:07:38,080
Speaker 1: on any piece of his legislation. That's an incredibly weak

123
00:07:38,120 --> 00:07:40,840
Speaker 1: position for a new president to be in. You know,

124
00:07:40,880 --> 00:07:43,160
Speaker 1: you'd have to go back a long time to find

125
00:07:43,480 --> 00:07:45,960
Speaker 1: a president who hasn't come in with at least some

126
00:07:46,920 --> 00:07:50,800
Speaker 1: UH Senate majority um to be able to move some

127
00:07:50,880 --> 00:07:53,760
Speaker 1: kind of an agenda. And and COVID relief is part

128
00:07:53,760 --> 00:07:56,880
Speaker 1: of that. And so it really will affect a lot

129
00:07:56,960 --> 00:07:59,960
Speaker 1: of those other things now. Right now in those george

130
00:08:00,000 --> 00:08:04,440
Speaker 1: of Senate runoffs, David Produce Senators David Produe and Kelly

131
00:08:04,480 --> 00:08:07,760
Speaker 1: law for the two Republicans are being pummeled by John

132
00:08:07,800 --> 00:08:12,360
Speaker 1: Alsoff and Raphael Warnock the Democrats for failing to get

133
00:08:12,400 --> 00:08:15,840
Speaker 1: any COVID released on the last six months for failing

134
00:08:15,880 --> 00:08:18,760
Speaker 1: to get more checks out to people, uh and and

135
00:08:18,840 --> 00:08:22,760
Speaker 1: everything else. And so as Mr McConnell's trying to whip

136
00:08:22,840 --> 00:08:25,200
Speaker 1: up support for this package so that you can get

137
00:08:25,200 --> 00:08:29,440
Speaker 1: the Republicans behind it, something that he's negotiating, Uh, it

138
00:08:29,480 --> 00:08:31,840
Speaker 1: doesn't hurt him to say, hey, look, if you guys

139
00:08:31,880 --> 00:08:34,079
Speaker 1: want to be chairman next year and have your bills

140
00:08:34,120 --> 00:08:37,240
Speaker 1: moved next year, we need to re elect Kelly Laffler

141
00:08:37,320 --> 00:08:39,520
Speaker 1: and David Purdue. And that means we need to pass

142
00:08:39,600 --> 00:08:42,760
Speaker 1: this and make the voters in Georgia more happy and

143
00:08:42,800 --> 00:08:45,959
Speaker 1: more likely to look for them who won Speaker Pelosi

144
00:08:46,280 --> 00:08:51,199
Speaker 1: or Leader McConnell in the stare down. You know, it's

145
00:08:51,280 --> 00:08:54,319
Speaker 1: kind of hard to say because Pelosi could have gotten

146
00:08:54,360 --> 00:08:58,120
Speaker 1: more money before the election. At one point, she and

147
00:08:58,480 --> 00:09:01,720
Speaker 1: the Trump administration we're talking about a package closer to

148
00:09:01,800 --> 00:09:05,000
Speaker 1: two trillion dollars. She absolutely could have gotten more money

149
00:09:05,000 --> 00:09:08,400
Speaker 1: than but you know, from her perspective, I don't know

150
00:09:08,840 --> 00:09:11,880
Speaker 1: how she would have viewed that, because what if that

151
00:09:12,160 --> 00:09:15,240
Speaker 1: package had passed and Trump would have been or could

152
00:09:15,240 --> 00:09:17,240
Speaker 1: have been re elected, that would have been much probably

153
00:09:17,320 --> 00:09:19,480
Speaker 1: much worse for from her person. See, I got to

154
00:09:19,559 --> 00:09:21,599
Speaker 1: jump in here because the exit polls suggests that the

155
00:09:21,840 --> 00:09:25,080
Speaker 1: fiscal stimulus was not an issue. Uh in in the

156
00:09:25,280 --> 00:09:27,560
Speaker 1: and that this is fascinating and her Monday quarterbacking and

157
00:09:27,559 --> 00:09:30,439
Speaker 1: I get it, but but that it wasn't an issue.

158
00:09:30,480 --> 00:09:32,640
Speaker 1: So I mean that right there, she could have gotten

159
00:09:32,640 --> 00:09:35,600
Speaker 1: two trillion dollars and now she's getting nine billions. Sounds

160
00:09:35,640 --> 00:09:38,880
Speaker 1: like a win for leader McConnell. Thirty seconds. I think

161
00:09:38,920 --> 00:09:41,400
Speaker 1: that you know from have you're just talking about this

162
00:09:41,480 --> 00:09:44,720
Speaker 1: bill dollars and cents. She definitely could have gotten more.

163
00:09:45,080 --> 00:09:48,760
Speaker 1: But if that check a second t check had showed

164
00:09:48,800 --> 00:09:50,840
Speaker 1: up a two weeks before the election, one week before

165
00:09:50,880 --> 00:09:54,679
Speaker 1: the election, signed by Donald Trump, who knows, who know,

166
00:09:56,120 --> 00:09:58,720
Speaker 1: A hundred thousand votes in four states or something like that.

167
00:09:58,880 --> 00:10:02,040
Speaker 1: Hundred thousand votes four states and two trillion dollars. Will

168
00:10:02,080 --> 00:10:07,679
Speaker 1: never know. Stephen Tennis Bloomberg Cornress reporter. Excellent reporting, my friend,

169
00:10:07,720 --> 00:10:10,560
Speaker 1: and I'm so appreciative for you joining this and breaking

170
00:10:10,640 --> 00:10:12,679
Speaker 1: us all down for us. Much more coming up next,

171
00:10:12,720 --> 00:10:14,839
Speaker 1: we check in on FED Chairman J Powell of Kevin

172
00:10:14,880 --> 00:10:18,760
Speaker 1: CEREALI Chief Washington correspondent of two trillion dollars stimulus Talks.

173
00:10:18,840 --> 00:10:45,960
Speaker 1: You're listening to Bloomberg. I'm Kevin CEREALI Chief Washington correspondent

174
00:10:46,040 --> 00:10:49,840
Speaker 1: for Bloomberg Television and Bloomberg Radio. Beautiful Day by YouTube

175
00:10:50,120 --> 00:10:53,040
Speaker 1: on what is a very damp and dreary day here

176
00:10:53,040 --> 00:10:54,880
Speaker 1: in the nation's capital. But if you ever need to

177
00:10:54,920 --> 00:10:58,720
Speaker 1: pick me up, turn on that song because it's the best.

178
00:10:58,880 --> 00:11:00,720
Speaker 1: It's one of my all time favorite albums off of

179
00:11:00,760 --> 00:11:03,240
Speaker 1: All That you Can't Leave Behind, which just happens to

180
00:11:03,280 --> 00:11:05,880
Speaker 1: be the theme song that Christine Barada let me pick

181
00:11:06,160 --> 00:11:10,160
Speaker 1: for this program, which is Elevation. Uh. Let's check in

182
00:11:10,400 --> 00:11:12,840
Speaker 1: on what happened in the markets today, because the Federal

183
00:11:12,880 --> 00:11:17,000
Speaker 1: Reserve strengthened its commitment to support the U s economy,

184
00:11:17,120 --> 00:11:21,480
Speaker 1: promising to maintain its massive asset purchase program until it

185
00:11:21,559 --> 00:11:26,280
Speaker 1: sees substantial further progress and employment and inflation at their

186
00:11:26,320 --> 00:11:30,320
Speaker 1: final meaning of a tumultuous year. Policymakers, led by FED

187
00:11:30,400 --> 00:11:34,959
Speaker 1: Chairman J Powell, earlier today voted to maintain monthly bond

188
00:11:35,160 --> 00:11:39,200
Speaker 1: purchases of at least a hundred and twenty billion dollars

189
00:11:39,240 --> 00:11:43,640
Speaker 1: and scrapped their previous pledge to keep buying quote overcoming

190
00:11:43,880 --> 00:11:47,000
Speaker 1: months end quote reading in my Bloomberg terminal from Craig

191
00:11:47,040 --> 00:11:50,320
Speaker 1: Torres and Rich Miller. Let's take a listen again to

192
00:11:50,400 --> 00:11:53,040
Speaker 1: what FED Chairman J Powell had to say, because we've

193
00:11:53,040 --> 00:11:55,760
Speaker 1: got sound on the specifics of what he wants to

194
00:11:55,840 --> 00:12:00,080
Speaker 1: do with the with the monetary policy. Here is of

195
00:12:00,120 --> 00:12:02,160
Speaker 1: thing we do is in service to our public mission.

196
00:12:02,760 --> 00:12:05,000
Speaker 1: We are committed to using our full range of tools

197
00:12:05,000 --> 00:12:07,360
Speaker 1: to support the economy and to help assure that the

198
00:12:07,440 --> 00:12:11,400
Speaker 1: recovery from this difficult period will be as robust as possible.

199
00:12:12,040 --> 00:12:16,040
Speaker 1: Thomas Hogan is a Senior Fellow at the American Institute

200
00:12:16,040 --> 00:12:19,800
Speaker 1: for Economic Research. He is also the former Chief economist

201
00:12:19,880 --> 00:12:22,760
Speaker 1: for the U. S. Senate Banking Committee, the all important

202
00:12:23,040 --> 00:12:25,640
Speaker 1: Senate Banking Committee. Thomas thrilled to have you here. What

203
00:12:25,760 --> 00:12:30,640
Speaker 1: did you make of FED Chairman J Powell's remarks today? Well,

204
00:12:30,679 --> 00:12:33,520
Speaker 1: I think Polla Mede two important points UM. One of

205
00:12:33,520 --> 00:12:36,480
Speaker 1: them was that they FOMC has committed to a long

206
00:12:36,559 --> 00:12:41,080
Speaker 1: period of accommodative monetary policy. UM. They're planning to keep

207
00:12:41,240 --> 00:12:45,480
Speaker 1: the FED funds target near zero through which is longer

208
00:12:45,480 --> 00:12:48,600
Speaker 1: than they had previously said, and they're trying to remain

209
00:12:48,640 --> 00:12:51,840
Speaker 1: expansive until inflation picks up to two percent or higher

210
00:12:51,840 --> 00:12:55,120
Speaker 1: and they're reaching maximum employment. So that's basically what they

211
00:12:55,120 --> 00:12:57,720
Speaker 1: said before about a longer period. And then the second

212
00:12:57,720 --> 00:12:59,800
Speaker 1: thing that is the one that you mentioned, that they're

213
00:13:00,000 --> 00:13:03,200
Speaker 1: in to maintain the rate of open market purchases at

214
00:13:03,200 --> 00:13:07,120
Speaker 1: about twenty billion per months UM. I think some people

215
00:13:07,120 --> 00:13:09,000
Speaker 1: in the market wanted to see a little bit more,

216
00:13:09,080 --> 00:13:12,440
Speaker 1: but Powell said that the FOMC sees the risks is

217
00:13:12,480 --> 00:13:16,080
Speaker 1: basically broadly balanced at this time, but they could do

218
00:13:16,160 --> 00:13:19,640
Speaker 1: more if conditions weren't. So what impact is that going

219
00:13:19,679 --> 00:13:24,400
Speaker 1: to have, especially when there's so much um likely fiscal

220
00:13:24,440 --> 00:13:27,960
Speaker 1: stimulus coming uh and that Congress is going to pass.

221
00:13:28,000 --> 00:13:31,239
Speaker 1: I mean, how does that how does that combine impact

222
00:13:31,600 --> 00:13:35,120
Speaker 1: what the central Bank is is doing. Yeah, I think

223
00:13:35,120 --> 00:13:37,040
Speaker 1: it's a bit of a mixed message here. I mean,

224
00:13:37,240 --> 00:13:39,679
Speaker 1: we we did see that markets kind of picked up

225
00:13:39,760 --> 00:13:41,800
Speaker 1: right around the time that Powell was talking and then

226
00:13:41,840 --> 00:13:44,600
Speaker 1: flattened out a little bit. But I think the message

227
00:13:44,600 --> 00:13:47,360
Speaker 1: is a little bit strange because on one hand, he saying, well,

228
00:13:47,400 --> 00:13:49,800
Speaker 1: we're not going to be doing a lot more accombinative

229
00:13:49,800 --> 00:13:52,320
Speaker 1: monetary policy. We're not going to increase what we're doing,

230
00:13:52,360 --> 00:13:54,840
Speaker 1: and so people might take a negative from that. But

231
00:13:54,920 --> 00:13:56,880
Speaker 1: on the other hand, he's saying, look, things are are

232
00:13:56,920 --> 00:14:00,199
Speaker 1: doing very well right now, um, and the economy is

233
00:14:00,280 --> 00:14:02,520
Speaker 1: largely bounced back from the position that we were in

234
00:14:02,559 --> 00:14:04,520
Speaker 1: just a few months ago. And so that's a very

235
00:14:04,559 --> 00:14:08,520
Speaker 1: positive message, um that people can take away from this announcement. Meanwhile,

236
00:14:08,840 --> 00:14:11,280
Speaker 1: the fiscal stimulus, and I loved this blog post that

237
00:14:11,280 --> 00:14:13,560
Speaker 1: that you read. It's a it's a really wonky read,

238
00:14:13,600 --> 00:14:15,559
Speaker 1: which is what we love on Bloomberg Sound On. It

239
00:14:15,640 --> 00:14:19,600
Speaker 1: says not all governments spending is stimulus. And in this piece,

240
00:14:19,680 --> 00:14:23,160
Speaker 1: you write, some fiscal policies encourage people not to work

241
00:14:23,200 --> 00:14:26,640
Speaker 1: and produce. One example is when the government increases benefit

242
00:14:26,680 --> 00:14:31,320
Speaker 1: payments to the unemployed. Such payments might marginally increase consumption

243
00:14:31,360 --> 00:14:34,240
Speaker 1: by those receiving the funds, but the direct effect is

244
00:14:34,280 --> 00:14:36,920
Speaker 1: to discourage people who are out of work from finding

245
00:14:37,000 --> 00:14:40,320
Speaker 1: a new job. Relief payments, you go on to say,

246
00:14:40,480 --> 00:14:44,000
Speaker 1: can be vital to helping the recipients through these difficult

247
00:14:44,040 --> 00:14:48,640
Speaker 1: economic times, especially when government restrictions force people to stay

248
00:14:48,640 --> 00:14:52,440
Speaker 1: at home or prevent businesses from operating. I bring this

249
00:14:52,560 --> 00:14:56,840
Speaker 1: up because my colleague Stephen Dennis are Bloomberg Congress reporter,

250
00:14:57,440 --> 00:15:01,640
Speaker 1: just mentioned a fascinating pair of strange political bedfellows, as

251
00:15:01,640 --> 00:15:05,920
Speaker 1: they're known in the Beltway, Senators Josh Holly, a Republican,

252
00:15:06,240 --> 00:15:10,080
Speaker 1: and Bernie Sanders. Everyone knows Bernie right uh, and they've

253
00:15:10,120 --> 00:15:13,480
Speaker 1: been pushing for there to be twelve dollar stimulus checks.

254
00:15:13,760 --> 00:15:15,920
Speaker 1: It's not likely that that's going to end up in

255
00:15:15,960 --> 00:15:20,120
Speaker 1: the final bill, but I wanted to get your analysis

256
00:15:20,200 --> 00:15:24,520
Speaker 1: of a Republican getting on board with that and with

257
00:15:24,600 --> 00:15:29,880
Speaker 1: Senator Bernie Sanders, nonetheless in an incredibly politicized, polarized time,

258
00:15:30,200 --> 00:15:34,480
Speaker 1: but also in the midst of a horrific pandemic. Well,

259
00:15:35,200 --> 00:15:37,080
Speaker 1: I'm I'm not surprised at that, and I think that

260
00:15:37,120 --> 00:15:40,000
Speaker 1: a lot of people right now would like to see, um,

261
00:15:40,080 --> 00:15:44,200
Speaker 1: some fiscal policy and some kind of checks or support system.

262
00:15:44,520 --> 00:15:46,560
Speaker 1: I just don't think that we should be calling that stimulus.

263
00:15:46,600 --> 00:15:48,760
Speaker 1: I mean, those are relief policies that are going to

264
00:15:48,920 --> 00:15:51,920
Speaker 1: help Americans that are out of work, and especially for

265
00:15:51,960 --> 00:15:54,600
Speaker 1: people in states where there are some serious lockdowns and

266
00:15:54,640 --> 00:15:57,560
Speaker 1: they can't get a job even if they wanted to. UM,

267
00:15:57,600 --> 00:15:59,600
Speaker 1: that money can be vital to them to make it

268
00:15:59,640 --> 00:16:01,720
Speaker 1: through this difficult time. I just don't think we should

269
00:16:01,760 --> 00:16:04,720
Speaker 1: call it stimulus, because you know, those and other policies,

270
00:16:04,800 --> 00:16:08,960
Speaker 1: especially things like increasing unemployment benefits. Um those are good

271
00:16:09,000 --> 00:16:11,720
Speaker 1: for when we're entering a down term to prevent the

272
00:16:11,720 --> 00:16:14,760
Speaker 1: economy from falling too far, but they're not good at

273
00:16:14,760 --> 00:16:17,960
Speaker 1: getting us back to a normally thriving economy because they,

274
00:16:18,200 --> 00:16:20,560
Speaker 1: you know, prevent people from going back to work. And so,

275
00:16:20,920 --> 00:16:23,320
Speaker 1: you know, I think those policies can be very beneficial,

276
00:16:23,360 --> 00:16:26,080
Speaker 1: and I'm not not surprised to see people from both

277
00:16:26,080 --> 00:16:28,320
Speaker 1: parties calling for that. I just think we should call

278
00:16:28,320 --> 00:16:30,880
Speaker 1: it relief and not stimulus. You know, I think that's

279
00:16:30,920 --> 00:16:32,880
Speaker 1: so fascinating right now, folks. I mean what you just

280
00:16:32,920 --> 00:16:36,520
Speaker 1: heard from Thomas Hogan, senior fellow at the American Institute

281
00:16:36,520 --> 00:16:39,720
Speaker 1: for Economic Research and the former chief economists for the

282
00:16:39,760 --> 00:16:43,960
Speaker 1: Senate Banking Committee under form under creepo writer Johnson. Who

283
00:16:44,080 --> 00:16:47,200
Speaker 1: who did you serve under Senators shall be avoid shall

284
00:16:47,320 --> 00:16:50,200
Speaker 1: be Senators Shallby? Who would always grab me in the

285
00:16:50,240 --> 00:16:53,800
Speaker 1: hallways and say, listen up, you, Yeah, I can run

286
00:16:53,840 --> 00:16:55,360
Speaker 1: faster than you. That's what he would always tell me.

287
00:16:55,400 --> 00:16:58,520
Speaker 1: He was kidding. I don't want to in trouble. But

288
00:16:59,320 --> 00:17:01,600
Speaker 1: but it's fast inting right there, because that's really the

289
00:17:01,680 --> 00:17:04,959
Speaker 1: debate that the Republican Party is going to have to

290
00:17:05,040 --> 00:17:10,600
Speaker 1: have this issue of relief versus stimulus, and already already

291
00:17:10,640 --> 00:17:14,120
Speaker 1: they are starting to have that, especially as an incoming

292
00:17:14,160 --> 00:17:17,879
Speaker 1: administration gets ready to take control and we're all eagerly

293
00:17:17,920 --> 00:17:20,800
Speaker 1: awaiting the result of the Georgia runoff. Thomas, let's switch

294
00:17:20,840 --> 00:17:24,080
Speaker 1: gears now and go Geo political, because so much of

295
00:17:24,119 --> 00:17:27,520
Speaker 1: the market data coming out of China, for example, has

296
00:17:27,520 --> 00:17:31,480
Speaker 1: been incredibly positive, and that's caused a lot of the

297
00:17:31,520 --> 00:17:35,680
Speaker 1: Western world to be incredibly skeptical at what the Communist

298
00:17:35,720 --> 00:17:39,119
Speaker 1: Party of China is in fact doing. And and I'm curious,

299
00:17:39,160 --> 00:17:44,399
Speaker 1: as America comes out of this economic elements of the pandemic,

300
00:17:45,000 --> 00:17:48,080
Speaker 1: what do you think the relationship with China will be

301
00:17:48,119 --> 00:17:52,800
Speaker 1: like in the next couple of years. On the economic front, Well,

302
00:17:53,200 --> 00:17:57,680
Speaker 1: Trump was largely critical of trade with China and talked

303
00:17:57,720 --> 00:17:59,879
Speaker 1: to try to demonize China, and I think, you know,

304
00:18:00,040 --> 00:18:03,439
Speaker 1: hardly because of his domestic policy of of, you know,

305
00:18:03,480 --> 00:18:07,040
Speaker 1: trying to encourage some nationalistic tendencies. He wanted to kind

306
00:18:07,040 --> 00:18:10,320
Speaker 1: of make them, uh, the enemy a little bit um.

307
00:18:10,359 --> 00:18:12,080
Speaker 1: But I hope that we can. I hope that we'll

308
00:18:12,080 --> 00:18:15,200
Speaker 1: actually get back to continued trade with China, and that's

309
00:18:15,440 --> 00:18:17,359
Speaker 1: you know, good for the economy and good good for

310
00:18:17,400 --> 00:18:22,480
Speaker 1: most Americans. I think the problem, at least in the

311
00:18:22,480 --> 00:18:24,800
Speaker 1: short run that we're going to be facing still, you know,

312
00:18:24,840 --> 00:18:27,119
Speaker 1: the most pressing thing that we're facing right now is

313
00:18:27,160 --> 00:18:30,160
Speaker 1: that a lot of the states are still locked down,

314
00:18:30,440 --> 00:18:33,480
Speaker 1: and you know, people can't get out and have a

315
00:18:33,480 --> 00:18:36,320
Speaker 1: regular job and get back to work, um. And so

316
00:18:36,480 --> 00:18:39,359
Speaker 1: that's going to be the biggest question going forward is

317
00:18:39,600 --> 00:18:41,480
Speaker 1: you know, how can we how long is it going

318
00:18:41,520 --> 00:18:43,439
Speaker 1: to be before some of these states can open up

319
00:18:43,480 --> 00:18:46,840
Speaker 1: and get get people working in back to a normal economy.

320
00:18:47,000 --> 00:18:50,280
Speaker 1: And you know, that's really the biggest question marked uh

321
00:18:50,800 --> 00:18:52,920
Speaker 1: Chaire Powell talked about today is being one of the

322
00:18:52,920 --> 00:18:56,040
Speaker 1: biggest issues and one of the biggest unknowns UM and

323
00:18:56,040 --> 00:18:57,480
Speaker 1: so I think that's one of the things that we

324
00:18:57,520 --> 00:18:59,880
Speaker 1: should be you know, most concerned about and looking at

325
00:19:00,680 --> 00:19:04,479
Speaker 1: really smart analysis. And I encourage everyone if you're looking

326
00:19:04,560 --> 00:19:08,440
Speaker 1: for some analysis U from the American Institute for Economic

327
00:19:08,480 --> 00:19:11,960
Speaker 1: Research to check out the articles that Thomas Hogan has

328
00:19:12,000 --> 00:19:15,520
Speaker 1: published on their particularly UH important on a day like

329
00:19:15,680 --> 00:19:17,960
Speaker 1: today where the FED is so much in focus. Thomas

330
00:19:18,040 --> 00:19:21,119
Speaker 1: is a senior fellow at the American Institute for Economic

331
00:19:21,160 --> 00:19:23,560
Speaker 1: Research and the former chief economists for the U. S.

332
00:19:23,560 --> 00:19:27,600
Speaker 1: Senate Committee on Banking, Housing, and Urban Affairs. Coming up,

333
00:19:27,920 --> 00:19:30,760
Speaker 1: we check in with Congressman Tom Read, a Republican from

334
00:19:30,760 --> 00:19:33,960
Speaker 1: New York co chairman of the Problem Solvers Caucus, as

335
00:19:33,960 --> 00:19:38,680
Speaker 1: well as Senator Bob Casey, a Democrat from Pennsylvania. Download

336
00:19:38,680 --> 00:19:41,080
Speaker 1: the Bloomberg S On podcast on Apple iTunes and Bloomberg

337
00:19:41,080 --> 00:19:43,360
Speaker 1: dot Com, or by downloading the Bloomberg Business App. I'm

338
00:19:43,440 --> 00:19:47,119
Speaker 1: Kevin Cirelli, Chief Washington correspondent FRO Bloomberg Television and Bloomberg Radio,

339
00:19:47,400 --> 00:19:52,040
Speaker 1: and you're listening to Bloomberg those space to in this

340
00:19:52,359 --> 00:20:02,960
Speaker 1: town out of look why from our nation's camera. I'll

341
00:20:03,000 --> 00:20:05,600
Speaker 1: talk here in Washington, d C. Turns to President elect

342
00:20:05,720 --> 00:20:09,240
Speaker 1: Joe Biden's administration. Historically speaking, the markets that performed better

343
00:20:09,240 --> 00:20:12,560
Speaker 1: when there is divided government. The biggest pressure for physical

344
00:20:12,600 --> 00:20:17,120
Speaker 1: stimulus is an up taking cases. Bloomberg sound on the insiders,

345
00:20:17,240 --> 00:20:21,240
Speaker 1: the influencers, the inside riding has promised again and again

346
00:20:21,280 --> 00:20:25,000
Speaker 1: able to unite the country's state government's control elections as

347
00:20:25,040 --> 00:20:28,480
Speaker 1: in the Constitution. I think that we can expect a smooth, thoughtful,

348
00:20:28,640 --> 00:20:33,640
Speaker 1: methodical transition this is Bloomberg Sound On with Kevin Shirley

349
00:20:33,920 --> 00:20:38,080
Speaker 1: on Bloomberg and one oh five point seven h D

350
00:20:38,200 --> 00:20:44,760
Speaker 1: two Optimism, enthusiasm and focus on fiscal stimulus talks. We've

351
00:20:44,760 --> 00:20:48,600
Speaker 1: got two of the leading lawmakers on the conversation joining

352
00:20:48,600 --> 00:20:51,720
Speaker 1: me this hour, Congressman Tom Reid, co chairman of the

353
00:20:51,720 --> 00:20:55,680
Speaker 1: Problem Solvers Caucus, a Republican from New York, and Senator

354
00:20:55,760 --> 00:21:00,440
Speaker 1: Bob Casey, a Democrat from Pennsylvania. We're gonna talk all

355
00:21:00,560 --> 00:21:06,160
Speaker 1: things fiscal stimulus, as Leader McConnell inches closer towards a deal,

356
00:21:06,359 --> 00:21:08,760
Speaker 1: a lot to get through, plus the Fed Chairman j

357
00:21:08,920 --> 00:21:12,240
Speaker 1: Powell weighing, you know, monetary policy. Breaking news just within

358
00:21:12,280 --> 00:21:15,760
Speaker 1: the last half hour headlines crossing my Bloomberg terminal, President

359
00:21:15,800 --> 00:21:19,600
Speaker 1: Elect Joe Biden telling governors on a virtual conference that

360
00:21:19,680 --> 00:21:23,520
Speaker 1: he does not anticipate the fiscal stimulus deal will be

361
00:21:23,600 --> 00:21:28,399
Speaker 1: reached tonight. However, we could get some type of text

362
00:21:28,560 --> 00:21:33,560
Speaker 1: released based upon other independent reports sometime within the next

363
00:21:33,920 --> 00:21:36,560
Speaker 1: twelve hours. They are down to the wire, and we've

364
00:21:36,600 --> 00:21:39,840
Speaker 1: got sound on the fiscal stimulus coming from Senate Majority

365
00:21:39,920 --> 00:21:44,680
Speaker 1: Leader Mitch McConnell. Earlier today, we made major headwight toward

366
00:21:44,760 --> 00:21:48,919
Speaker 1: hammering out a targeted pandemic relief package that would be

367
00:21:48,960 --> 00:21:53,359
Speaker 1: able to pass both chambers with bob partisan majorities. On

368
00:21:53,440 --> 00:21:58,359
Speaker 1: the issues of two particular thorny issues that have really

369
00:21:59,160 --> 00:22:04,400
Speaker 1: presented hurts for Republicans and Democrats liability protections for Republicans

370
00:22:04,440 --> 00:22:08,040
Speaker 1: and state and local funding for the Democrats. Senate Minority

371
00:22:08,119 --> 00:22:11,520
Speaker 1: Leader Chuck Schumer says there might be another opportunity to

372
00:22:11,600 --> 00:22:17,040
Speaker 1: hammer out those details with the new incoming administration. The

373
00:22:17,160 --> 00:22:20,439
Speaker 1: Democrats would have liked to go considerably further, but this

374
00:22:20,520 --> 00:22:23,480
Speaker 1: won't be the last time Congress speaks on COVID relief

375
00:22:23,960 --> 00:22:26,920
Speaker 1: and FED Chairman j Powell says that the Central Bank

376
00:22:26,960 --> 00:22:29,880
Speaker 1: will continue to buy government bonds to help the economy

377
00:22:29,960 --> 00:22:33,040
Speaker 1: during the economic downturn as a result of the pandemic.

378
00:22:33,119 --> 00:22:36,240
Speaker 1: He spoke earlier today. Everything we do is in service

379
00:22:36,240 --> 00:22:39,000
Speaker 1: to our public mission. We are committed to using our

380
00:22:39,080 --> 00:22:41,639
Speaker 1: full range of tools to support the economy and to

381
00:22:41,680 --> 00:22:44,360
Speaker 1: help assure that the recovery from this difficult period will

382
00:22:44,400 --> 00:22:48,119
Speaker 1: be as robust as possible. Christen Hahn is a Democratic

383
00:22:48,160 --> 00:22:51,320
Speaker 1: strategist as senior advisor at Rock Solutions and former Blue

384
00:22:51,320 --> 00:22:55,760
Speaker 1: Dog Coalition Communications director. Eli Yokeley is a senior reporter

385
00:22:56,080 --> 00:22:59,320
Speaker 1: covering politics at the Morning Consult. Kristen, I'll start with

386
00:22:59,400 --> 00:23:02,439
Speaker 1: you here. We have it that they're inching closer to

387
00:23:02,520 --> 00:23:06,879
Speaker 1: a deal, the flanks of both respected parties not getting

388
00:23:07,119 --> 00:23:11,240
Speaker 1: particularly what they wanted, the Centrists really driving the path

389
00:23:11,400 --> 00:23:15,720
Speaker 1: forward for consensus building. Are they going to have more

390
00:23:15,760 --> 00:23:20,480
Speaker 1: political capital in an incoming administration as a result of

391
00:23:20,520 --> 00:23:23,600
Speaker 1: what could be a win for them with this round

392
00:23:23,600 --> 00:23:27,640
Speaker 1: of stimulus? Yeah, I think so. And here's why. Um

393
00:23:27,680 --> 00:23:30,880
Speaker 1: I was actually looking very closely, uh I, because last week,

394
00:23:30,920 --> 00:23:33,600
Speaker 1: because last year when the Senators and the members of

395
00:23:33,600 --> 00:23:37,080
Speaker 1: congresson in the House came together and did the round

396
00:23:37,080 --> 00:23:39,720
Speaker 1: oppress and talked about their package that they put together.

397
00:23:40,040 --> 00:23:42,760
Speaker 1: This has happened on various issues in years past, but

398
00:23:42,840 --> 00:23:46,440
Speaker 1: what you didn't see before was members of leadership expressing

399
00:23:46,480 --> 00:23:50,640
Speaker 1: support in public for those efforts. Um So, I think,

400
00:23:50,760 --> 00:23:52,960
Speaker 1: you know, in in a government that's going to be

401
00:23:53,040 --> 00:23:56,639
Speaker 1: as tightly divided as this, with a very narrow, um

402
00:23:56,680 --> 00:24:00,359
Speaker 1: you know, democratic majority in the House and a tightly

403
00:24:00,400 --> 00:24:03,280
Speaker 1: divided Senate, the centers are going to be the ones,

404
00:24:03,320 --> 00:24:05,160
Speaker 1: I think who are going to be able to come together.

405
00:24:05,160 --> 00:24:07,840
Speaker 1: They demonstrated and I think you'll see a COVID relief

406
00:24:07,880 --> 00:24:11,200
Speaker 1: package hopefully by Friday night in the House that reflects

407
00:24:11,240 --> 00:24:14,080
Speaker 1: a lot of what was in their negotiations and their

408
00:24:14,160 --> 00:24:17,320
Speaker 1: their final package. So I think this is what we'll

409
00:24:17,320 --> 00:24:20,400
Speaker 1: see going forward. Um. You know, if if the Democrats

410
00:24:20,440 --> 00:24:23,120
Speaker 1: don't win those seats, and even if they do, Republicans

411
00:24:23,200 --> 00:24:26,879
Speaker 1: Democrats are going to have to come together functionally to

412
00:24:26,920 --> 00:24:31,199
Speaker 1: get anything done, um, anything of consequence done in the

413
00:24:31,200 --> 00:24:34,720
Speaker 1: next Congress. So um, for me, hopefully it's a sign

414
00:24:34,720 --> 00:24:37,640
Speaker 1: of things to come. Eli Yoakley. There is a report

415
00:24:37,680 --> 00:24:41,320
Speaker 1: out earlier on the Bloomberg Terminal that said Leader McConnell

416
00:24:41,680 --> 00:24:45,879
Speaker 1: spoke to his Republican counterparts and said passing fiscal stimulus

417
00:24:45,960 --> 00:24:49,439
Speaker 1: would help Senators Kelly Lefler and David Purdue in re

418
00:24:49,560 --> 00:24:53,400
Speaker 1: election battles on the Georgia runoff on January five? Does

419
00:24:53,440 --> 00:24:57,080
Speaker 1: that mesh with what the polls have gleaned over at

420
00:24:57,080 --> 00:25:02,080
Speaker 1: the Morning consult well well owing nationally on Morning Concert,

421
00:25:02,160 --> 00:25:05,960
Speaker 1: we have seen that passing COVID relief is incredibly popular

422
00:25:06,080 --> 00:25:09,960
Speaker 1: with Democrats and with Republicans. I mean, you have seven

423
00:25:09,960 --> 00:25:13,800
Speaker 1: intent Republicans saying that a COVID economic simulus should be

424
00:25:13,800 --> 00:25:17,119
Speaker 1: a top priority to Congress. UM. Not much divide between

425
00:25:17,160 --> 00:25:19,960
Speaker 1: the two parties on that. Whenever you talk to strategis

426
00:25:20,000 --> 00:25:23,720
Speaker 1: down in Georgia. UM. Even before UM some of the

427
00:25:23,800 --> 00:25:27,720
Speaker 1: campaign has has taken off down there. UM. They have.

428
00:25:28,480 --> 00:25:31,280
Speaker 1: They have talked a lot about this idea that maybe

429
00:25:31,320 --> 00:25:34,520
Speaker 1: Ms mcconowell is incentivized to get something like this done

430
00:25:34,960 --> 00:25:37,200
Speaker 1: UM for them to be able to go campaign on UM.

431
00:25:37,240 --> 00:25:39,600
Speaker 1: The pandemic is still happening despite the fact that we've

432
00:25:39,640 --> 00:25:43,000
Speaker 1: got runolfs down there, and you know, sending a couple

433
00:25:43,000 --> 00:25:46,960
Speaker 1: of six checks to voters is not a unpopular move,

434
00:25:47,720 --> 00:25:50,520
Speaker 1: definitely not. And it's why you've seen such strange political

435
00:25:50,520 --> 00:25:54,719
Speaker 1: benfellows in the course of these negotiations when Senator Josh Holly,

436
00:25:55,119 --> 00:25:59,240
Speaker 1: a Republican, is joining with Senator Bernie Sanders and giving

437
00:26:01,080 --> 00:26:05,040
Speaker 1: essentially the same floor speech with regards to urging for

438
00:26:05,080 --> 00:26:08,720
Speaker 1: there to be more than a thousand dollars worth of checks. Now,

439
00:26:08,760 --> 00:26:11,440
Speaker 1: that's likely, based on my own reporting, not going to

440
00:26:11,640 --> 00:26:13,520
Speaker 1: end up in the final version of this bill. But

441
00:26:13,640 --> 00:26:17,199
Speaker 1: still you've got Holly and Sanders out there pushing for

442
00:26:17,280 --> 00:26:21,560
Speaker 1: additional relief in terms of terms of the stimulus checks.

443
00:26:21,920 --> 00:26:25,760
Speaker 1: Let me Kristin Han. I mean that right there, I

444
00:26:25,800 --> 00:26:29,240
Speaker 1: think illustrates sort of the frustration that some of the

445
00:26:29,280 --> 00:26:33,280
Speaker 1: rank and file members and the non leadership members have

446
00:26:34,080 --> 00:26:37,320
Speaker 1: with regards to the pace of this negotiation. But to

447
00:26:37,440 --> 00:26:40,720
Speaker 1: your point, do you think that that pace is only

448
00:26:40,760 --> 00:26:45,160
Speaker 1: going to intensify in a Biden administration if the Centrists

449
00:26:45,320 --> 00:26:49,840
Speaker 1: are able to counter the Freedom Caucus, counter the Democratic

450
00:26:49,880 --> 00:26:52,359
Speaker 1: far left of the party and and with the with

451
00:26:52,440 --> 00:26:56,680
Speaker 1: the massive Twitter followings and such. Yeah, I think you've

452
00:26:56,720 --> 00:27:00,600
Speaker 1: got some political calculations that both McConnell and Speaker police

453
00:27:00,680 --> 00:27:04,200
Speaker 1: you're going to make going forward. I think Leader McConnell

454
00:27:04,480 --> 00:27:08,679
Speaker 1: is um gonna be hard pressed to do anything. Um

455
00:27:08,720 --> 00:27:11,760
Speaker 1: that's not he doesn't see his politically advantageous to his

456
00:27:11,840 --> 00:27:15,880
Speaker 1: members who are up for re election in the House. Um,

457
00:27:15,920 --> 00:27:18,600
Speaker 1: I think you can. You know, the Speaker has always said,

458
00:27:18,600 --> 00:27:20,640
Speaker 1: come to me with ideas and show me that there's

459
00:27:20,640 --> 00:27:23,880
Speaker 1: bipartisan support. We could find a path um if it's

460
00:27:23,880 --> 00:27:26,400
Speaker 1: something that you know, she wants to move forward. So

461
00:27:26,760 --> 00:27:29,239
Speaker 1: you know, I think you know, having these members who

462
00:27:29,240 --> 00:27:32,240
Speaker 1: are regularly they're empowered right now, members of the New

463
00:27:32,280 --> 00:27:34,440
Speaker 1: Democratic Polition and the Blue Dog Coalition and the problem

464
00:27:34,520 --> 00:27:37,480
Speaker 1: Solvers Caucus. They're going to continue to come together. They

465
00:27:37,920 --> 00:27:41,920
Speaker 1: found success here with the COVID negotiations. UM. I think

466
00:27:41,960 --> 00:27:46,720
Speaker 1: that they'll be emboldened to to present ideas outside of

467
00:27:46,720 --> 00:27:50,520
Speaker 1: the leadership UM and where they gain traction with some

468
00:27:50,560 --> 00:27:52,439
Speaker 1: of the senators that stuff to move forward. Chris, And

469
00:27:52,480 --> 00:27:53,919
Speaker 1: let me follow up on this with you, because I

470
00:27:53,920 --> 00:27:57,840
Speaker 1: mean you you know the centrist democratic movement better than anyone,

471
00:27:57,920 --> 00:28:00,840
Speaker 1: just because you previously worked as a calms director for

472
00:28:00,880 --> 00:28:02,879
Speaker 1: the Blue Dog Coalition. I mean, is one of the

473
00:28:02,880 --> 00:28:05,959
Speaker 1: frustrations that they don't have and I say this respectfully,

474
00:28:06,000 --> 00:28:08,080
Speaker 1: but they don't have a star. They don't have some

475
00:28:08,320 --> 00:28:11,359
Speaker 1: a centrist with star power who can you know, have

476
00:28:11,520 --> 00:28:17,080
Speaker 1: the massive viral moment and of politicians that uh that

477
00:28:17,119 --> 00:28:19,280
Speaker 1: we all know of is that is that? What does

478
00:28:19,280 --> 00:28:23,120
Speaker 1: that frustrate them? I actually look at it quite differently.

479
00:28:23,240 --> 00:28:25,800
Speaker 1: You have like your Twitter stars and people that can

480
00:28:25,840 --> 00:28:30,480
Speaker 1: gain followings like um Alexandria Cascio Cortez. But when you

481
00:28:30,520 --> 00:28:34,679
Speaker 1: really look at how the caucus functions, UM, you have

482
00:28:34,840 --> 00:28:38,600
Speaker 1: people like Congresswoman Stephanie Murphy from Florida who has led

483
00:28:38,640 --> 00:28:42,000
Speaker 1: the Blue Dog Coalition and she's very effective within the

484
00:28:42,040 --> 00:28:45,520
Speaker 1: caucus um. She works across the aisle, she works within

485
00:28:45,560 --> 00:28:48,320
Speaker 1: the Democratic leadership. She goes to the leadership. She says, look,

486
00:28:48,320 --> 00:28:51,120
Speaker 1: I've got these votes. You can't take this before. Or

487
00:28:51,160 --> 00:28:53,600
Speaker 1: I've got this compromise, you can bring this before. She's

488
00:28:53,600 --> 00:28:55,640
Speaker 1: also remember ways and means. So yeah, I mean I

489
00:28:55,640 --> 00:28:58,840
Speaker 1: get what you're saying about the national star power ums

490
00:28:58,920 --> 00:29:01,280
Speaker 1: that I do think that there's something there. Yeah, once

491
00:29:01,320 --> 00:29:04,200
Speaker 1: we should get Carner Simon Murphy on. Coming up, we

492
00:29:04,320 --> 00:29:07,800
Speaker 1: check in with the co chairman of the Problem Solvers Caucus,

493
00:29:07,840 --> 00:29:10,360
Speaker 1: Tom Reid, Republican from New York. That's next. I'm Kevin Cirelli.

494
00:29:10,400 --> 00:29:18,160
Speaker 1: This is Bloomberg Sides and goods both ways, shoot fits

495
00:29:18,240 --> 00:29:23,360
Speaker 1: walk in it l from the bed stool right down

496
00:29:23,360 --> 00:29:27,640
Speaker 1: the robin, long story shot. It was a bad Bush

497
00:29:27,720 --> 00:29:30,640
Speaker 1: from the present ys clum to the nearest lips, long

498
00:29:30,680 --> 00:29:41,480
Speaker 1: story on, it was the wrong guy. You're listening to

499
00:29:41,600 --> 00:29:46,240
Speaker 1: Bloomberg Sound On with Kevin sirelate on Bloomberg and one

500
00:29:46,240 --> 00:29:49,280
Speaker 1: oh five point seven f m h D two. I'm

501
00:29:49,360 --> 00:29:53,160
Speaker 1: Kevin Cirelli, Chief Washington correspondent for Bloomberg Television and for

502
00:29:53,280 --> 00:29:58,280
Speaker 1: Bloomberg Radio. We're still awaiting the details of that fiscal

503
00:29:58,400 --> 00:30:04,040
Speaker 1: stimulus relief bill. But the foundation of this bipartisan proposal

504
00:30:04,120 --> 00:30:07,719
Speaker 1: and an incredibly polarized time comes from a group of

505
00:30:07,720 --> 00:30:11,520
Speaker 1: fifty bipartisan lawmakers, the co chairman of which is my

506
00:30:11,600 --> 00:30:14,760
Speaker 1: next guest. His name is Congressman Tom Reid. He is

507
00:30:14,800 --> 00:30:18,200
Speaker 1: a Republican from the state of New York. Congressman, thanks

508
00:30:18,240 --> 00:30:21,520
Speaker 1: for joining us. I know you're eagerly awaiting Leadership's final

509
00:30:22,000 --> 00:30:25,239
Speaker 1: UH version of this bill. But first things first, how

510
00:30:25,280 --> 00:30:28,600
Speaker 1: did you get to this? Well, first of all, Kevin,

511
00:30:28,640 --> 00:30:30,800
Speaker 1: thanks for having us on and me on. And the

512
00:30:30,840 --> 00:30:34,160
Speaker 1: problem Solvers Caucus is that group of bipartisans members that

513
00:30:34,200 --> 00:30:37,560
Speaker 1: are proud Republicans and proud Democrats, but Americans first. And

514
00:30:37,600 --> 00:30:40,320
Speaker 1: what we did is we we deployed our model where

515
00:30:40,320 --> 00:30:42,480
Speaker 1: we stay in the room, we listen to each other,

516
00:30:42,960 --> 00:30:46,560
Speaker 1: We get impassionate disagreements, we may engage in some rhetoric

517
00:30:46,600 --> 00:30:48,120
Speaker 1: at times, but at the end of the day, we

518
00:30:48,160 --> 00:30:50,600
Speaker 1: stay in the room, listen to each other. And that's

519
00:30:50,600 --> 00:30:54,200
Speaker 1: where this nillion dollars bluster, minus that nine eight billion

520
00:30:54,200 --> 00:30:57,719
Speaker 1: dollars deal that everyone's seemed publicly with legislative text, that

521
00:30:57,760 --> 00:31:00,360
Speaker 1: we we stood with our center friends, and the seven

522
00:31:00,880 --> 00:31:03,720
Speaker 1: eight billion of it is the Space Foundation, as you said,

523
00:31:04,240 --> 00:31:07,320
Speaker 1: of this deal that we're anticipating voting on here Friday.

524
00:31:07,360 --> 00:31:10,080
Speaker 1: Hopefully UM, that gets this done for the American people.

525
00:31:10,400 --> 00:31:13,280
Speaker 1: So in terms of Republicans not being able to get

526
00:31:13,320 --> 00:31:17,680
Speaker 1: liability protections, uh, that concerns a lot of small business owners.

527
00:31:17,720 --> 00:31:19,480
Speaker 1: Can you just get into the weeds for us and

528
00:31:19,520 --> 00:31:23,760
Speaker 1: get incredibly nerdy and wongy and specific about what exactly

529
00:31:23,920 --> 00:31:25,600
Speaker 1: is going to be in there, because that's one of

530
00:31:25,600 --> 00:31:28,600
Speaker 1: the things that the small business community is particularly worried about.

531
00:31:28,840 --> 00:31:30,560
Speaker 1: That the will allow for people to come back to work,

532
00:31:30,600 --> 00:31:35,040
Speaker 1: but that you know, heaven forbid someone con contact with

533
00:31:35,080 --> 00:31:37,360
Speaker 1: COVID nineteen that they would be on the hook for

534
00:31:37,480 --> 00:31:39,720
Speaker 1: and it could be a legal quagmire in addition to

535
00:31:39,760 --> 00:31:44,240
Speaker 1: these concerns. Yeah, no, absolutely, that's why we were sad

536
00:31:44,280 --> 00:31:47,800
Speaker 1: and that we could not finish getting the liability reform

537
00:31:47,840 --> 00:31:50,560
Speaker 1: measures put in place with the combination of state and

538
00:31:50,640 --> 00:31:53,520
Speaker 1: local aid and tribal government aid. But you know what

539
00:31:53,560 --> 00:31:55,320
Speaker 1: we did is we we laid the fond work upon

540
00:31:55,320 --> 00:31:58,680
Speaker 1: which the framework of that discussion advanced tremendously. And what

541
00:31:58,760 --> 00:32:00,680
Speaker 1: you're getting into the weeds. Non is you know, what

542
00:32:00,880 --> 00:32:03,280
Speaker 1: is the standard of care that we will apply for

543
00:32:03,360 --> 00:32:07,000
Speaker 1: those that acted in good faith during the pandemic, and

544
00:32:07,240 --> 00:32:09,400
Speaker 1: you know, we're looking at a gross negligence standard. And

545
00:32:09,400 --> 00:32:11,800
Speaker 1: I think there's wide acceptance that on both sides of

546
00:32:11,800 --> 00:32:13,880
Speaker 1: the attle that the good faith actors, the small business

547
00:32:13,920 --> 00:32:16,800
Speaker 1: owners that took the measures did what they could given

548
00:32:16,840 --> 00:32:20,240
Speaker 1: the dynamic of the pandemic period where they didn't know

549
00:32:20,280 --> 00:32:22,080
Speaker 1: what the standards was. This is a virus, this is

550
00:32:22,160 --> 00:32:24,840
Speaker 1: mother's nature throwing a curveball at us. They should get

551
00:32:24,840 --> 00:32:27,400
Speaker 1: some protection. But on the Republican side, there was also

552
00:32:27,440 --> 00:32:29,960
Speaker 1: a recognition, I think, and as we were talking about

553
00:32:29,960 --> 00:32:32,200
Speaker 1: this coming to an agreement, was you know, but there's

554
00:32:32,360 --> 00:32:34,360
Speaker 1: still bad actors out there, and they don't we don't

555
00:32:34,360 --> 00:32:38,200
Speaker 1: want to allow those that are using COVID nineteen and

556
00:32:38,240 --> 00:32:41,920
Speaker 1: the pandemics as cover for the pretext of engaging in

557
00:32:42,040 --> 00:32:44,680
Speaker 1: bad actions and bad actors. So if you're if you're

558
00:32:44,720 --> 00:32:49,640
Speaker 1: just being egregious and you're vilate your position of trust

559
00:32:50,000 --> 00:32:52,000
Speaker 1: and you're using code the way to kind of give

560
00:32:52,000 --> 00:32:54,960
Speaker 1: yourself cover for bad actions, um, that that needs to

561
00:32:54,960 --> 00:32:57,040
Speaker 1: be worked out. And we advanced the ball on that

562
00:32:57,960 --> 00:33:01,600
Speaker 1: on that that front and then get beyond the negligence cases,

563
00:33:01,640 --> 00:33:03,760
Speaker 1: and I think there's broad recognition workers comp is going

564
00:33:03,800 --> 00:33:07,240
Speaker 1: to take care of these cases when it comes to

565
00:33:07,280 --> 00:33:10,560
Speaker 1: the employer employee relationship. So you do have a question

566
00:33:10,560 --> 00:33:13,640
Speaker 1: about independent contractors. You have a question about you know,

567
00:33:13,680 --> 00:33:16,280
Speaker 1: what are you going to do for the other liabilities

568
00:33:16,280 --> 00:33:19,960
Speaker 1: that are out there for things like civil rights BOCEA violations.

569
00:33:20,000 --> 00:33:21,960
Speaker 1: You know what we're people doing during the course. But

570
00:33:22,000 --> 00:33:25,760
Speaker 1: the same principle, if you apply it to this situation,

571
00:33:26,000 --> 00:33:28,800
Speaker 1: can be applied. And then finally you had the whole

572
00:33:28,840 --> 00:33:32,200
Speaker 1: issue of you know, having one standard across the country

573
00:33:32,200 --> 00:33:34,560
Speaker 1: to deal with this and pre empting state laws, which

574
00:33:34,560 --> 00:33:37,640
Speaker 1: gets into some very we in the detailed debates of

575
00:33:38,000 --> 00:33:40,040
Speaker 1: As a Republican, I'm a proud state rights guy, but

576
00:33:40,120 --> 00:33:41,880
Speaker 1: you know, we're dealing with a pandemic, We're dealing with

577
00:33:41,920 --> 00:33:44,720
Speaker 1: a crisis, we're dealing with a natural disaster. In my

578
00:33:45,080 --> 00:33:47,760
Speaker 1: humble opinion, this is appropriate to have a one standard

579
00:33:48,360 --> 00:33:51,240
Speaker 1: across the entire nation and preempt for the period of

580
00:33:51,240 --> 00:33:54,480
Speaker 1: the pandemic the states to have conflicting standards. And that's

581
00:33:54,560 --> 00:33:58,680
Speaker 1: huge policy. That's a huge philosophical difference to bridge often

582
00:33:58,680 --> 00:34:01,680
Speaker 1: them when you're working out these issues. Congressman Tom reads

583
00:34:01,680 --> 00:34:06,080
Speaker 1: with us. He is a Republican representing the district in

584
00:34:06,120 --> 00:34:10,240
Speaker 1: New York. Corning is where he is the former mayor

585
00:34:10,400 --> 00:34:14,080
Speaker 1: of on the border really of my state of Pennsylvania

586
00:34:14,160 --> 00:34:17,000
Speaker 1: and New York. Uh, let me ask you a follow

587
00:34:17,080 --> 00:34:19,879
Speaker 1: up on this point of liability protections. Do you think

588
00:34:19,920 --> 00:34:23,760
Speaker 1: you'll have another go at it? And when President elect

589
00:34:23,760 --> 00:34:26,839
Speaker 1: Biden has sworn in and as Leader McConnell has forecasted,

590
00:34:27,480 --> 00:34:32,400
Speaker 1: they're anticipating another round of negotiations on stimulus front and

591
00:34:32,440 --> 00:34:36,520
Speaker 1: a Biden administration, do you think liability protection, because it's

592
00:34:36,560 --> 00:34:40,719
Speaker 1: been a dot dot dot policy, that that could be

593
00:34:40,760 --> 00:34:43,520
Speaker 1: an operat a moment of leverage for Republicans in the

594
00:34:43,560 --> 00:34:46,480
Speaker 1: next negotiations. Yeah. I mean, you're gonna still have to

595
00:34:46,520 --> 00:34:48,520
Speaker 1: take care of state and local aid and you're you're

596
00:34:48,520 --> 00:34:50,840
Speaker 1: gonna have to take care of this liability question. Because

597
00:34:51,160 --> 00:34:53,040
Speaker 1: go one step further if you really want to get

598
00:34:53,080 --> 00:34:55,480
Speaker 1: into ceding on this issue and you look at what's

599
00:34:55,480 --> 00:34:58,960
Speaker 1: coming down the pipeline, potentially you've got liability policies that

600
00:34:59,000 --> 00:35:02,200
Speaker 1: are going to potentially be a to disclaim coverage, not

601
00:35:02,320 --> 00:35:05,719
Speaker 1: only for the indemnification covering those judgments that businesses get

602
00:35:05,760 --> 00:35:08,680
Speaker 1: against them, but the defense obligations that go with those

603
00:35:08,680 --> 00:35:11,040
Speaker 1: liability But I'm sure you've got small business owners there

604
00:35:11,080 --> 00:35:14,440
Speaker 1: that purchase liability policies under the beliefs you know, they're

605
00:35:14,440 --> 00:35:16,480
Speaker 1: going to provide an attorney for me, they're also going

606
00:35:16,520 --> 00:35:19,080
Speaker 1: to cover the judgment that comes against me. But because

607
00:35:19,080 --> 00:35:22,680
Speaker 1: we felt like in the business interruption interruption loss environment,

608
00:35:23,080 --> 00:35:27,160
Speaker 1: you see the carriers disclaim. You see them disclaim potentially

609
00:35:27,160 --> 00:35:29,680
Speaker 1: in the liability policies. So now these businesses aren't going

610
00:35:29,760 --> 00:35:32,840
Speaker 1: to have insurance coverage all right, and that causes a

611
00:35:32,840 --> 00:35:35,120
Speaker 1: whole another ripple effect to the economy and to the

612
00:35:35,239 --> 00:35:37,880
Speaker 1: nation that needs to be dealt with if people start

613
00:35:38,360 --> 00:35:41,320
Speaker 1: realizing they're not gonna have an attorney as they because

614
00:35:41,360 --> 00:35:44,640
Speaker 1: the insurance theory disclaims because this was a pandemic, this

615
00:35:44,680 --> 00:35:47,160
Speaker 1: was an act of God. This was a natural disaster

616
00:35:47,280 --> 00:35:50,040
Speaker 1: that's not not covered by the policy. Like people have

617
00:35:50,120 --> 00:35:53,000
Speaker 1: talked about during the business interruption lost period where folks

618
00:35:53,000 --> 00:35:55,640
Speaker 1: are more maybe acquainted with that familiar with it, we've

619
00:35:55,680 --> 00:35:58,400
Speaker 1: got that same problem on the horizon. So you've got

620
00:35:58,719 --> 00:36:00,920
Speaker 1: you've got some big issues that are out there and

621
00:36:00,960 --> 00:36:04,080
Speaker 1: this is not this is this is not about protecting

622
00:36:05,120 --> 00:36:08,160
Speaker 1: big business interest. This is this is really about protecting

623
00:36:08,400 --> 00:36:11,680
Speaker 1: our country. This is about protecting those small businesses that

624
00:36:11,719 --> 00:36:14,279
Speaker 1: are hanging down by a threat. The restaurants, the you know,

625
00:36:14,719 --> 00:36:16,840
Speaker 1: as I always call at the ice cream shop type

626
00:36:16,840 --> 00:36:19,960
Speaker 1: of owner, or just a small retail guy who's just

627
00:36:20,000 --> 00:36:21,919
Speaker 1: trying to do the right thing, the right the lady

628
00:36:21,960 --> 00:36:24,200
Speaker 1: who's just the entrepreneur, just trying to do the right thing.

629
00:36:24,640 --> 00:36:26,439
Speaker 1: And now it's going to be left hold in the bag,

630
00:36:26,480 --> 00:36:28,080
Speaker 1: and so we're gonna have to deal with it the Congress.

631
00:36:28,120 --> 00:36:30,080
Speaker 1: It's not going away. And the problem doesn't get better

632
00:36:30,120 --> 00:36:33,480
Speaker 1: with ah, it gets worse. Congressman, I mean a level

633
00:36:33,520 --> 00:36:36,080
Speaker 1: with me here. Do you think that the Problem Solvers

634
00:36:36,080 --> 00:36:39,719
Speaker 1: Caucus has more leverage as a result one of this

635
00:36:39,880 --> 00:36:45,480
Speaker 1: policy win and and two with the Biden administration, because

636
00:36:45,480 --> 00:36:48,840
Speaker 1: it would appear that you have cracked the code of

637
00:36:48,960 --> 00:36:53,000
Speaker 1: consensus bipartisan building, and that your group and you and

638
00:36:53,040 --> 00:36:56,960
Speaker 1: Congressman Goddheimer have actually and the senators, the bipartisan senators

639
00:36:57,160 --> 00:36:59,439
Speaker 1: have cracked the code. We've got like forty seconds left.

640
00:36:59,440 --> 00:37:02,759
Speaker 1: But do you think you have more political leverage? It's

641
00:37:02,800 --> 00:37:05,440
Speaker 1: not about the President By, it's the prom service Caucus

642
00:37:05,480 --> 00:37:08,200
Speaker 1: has matured. It's a mild deep we have the fortitude

643
00:37:08,239 --> 00:37:09,960
Speaker 1: to do what needs to be done. And then also

644
00:37:10,280 --> 00:37:14,200
Speaker 1: with the tighter majority in the Congress, in the House, Bennett,

645
00:37:14,680 --> 00:37:16,319
Speaker 1: that is the thing that is going to give us

646
00:37:16,320 --> 00:37:20,279
Speaker 1: the leverage. Like Lombardi says, people who worked together will win.

647
00:37:20,640 --> 00:37:24,080
Speaker 1: Congress and Tom Read appreciate the time. Republican from New York,

648
00:37:24,160 --> 00:37:26,759
Speaker 1: I'm Kevin Surrey Moore next with Senator Bob Casey. This

649
00:37:26,800 --> 00:37:47,319
Speaker 1: is Bloomberg on one. I'm in. I'm okay that I'm

650
00:37:47,400 --> 00:37:51,040
Speaker 1: Kevin SEREALI Chief Washington correspondent from Bloomberg Television and from

651
00:37:51,040 --> 00:37:54,440
Speaker 1: Bloomberg Radio. If you're just joining us headlines crossing the

652
00:37:54,440 --> 00:37:57,960
Speaker 1: Bloomberg terminal. President elect Joe Biden says he does not

653
00:37:58,200 --> 00:38:01,680
Speaker 1: anticipate that a fiscal stimulus will be reached this evening,

654
00:38:02,120 --> 00:38:06,319
Speaker 1: but the details, according to independent reports, suggest we might

655
00:38:06,400 --> 00:38:09,880
Speaker 1: get some type of a framework agreement, if not by tonight,

656
00:38:10,239 --> 00:38:14,000
Speaker 1: then by tomorrow. As the clock continues to take down

657
00:38:14,600 --> 00:38:17,400
Speaker 1: to the deadline, when lawmakers have to get to some

658
00:38:17,480 --> 00:38:21,480
Speaker 1: type of consensus ahead of that Omnibus deadline this Friday,

659
00:38:21,560 --> 00:38:23,920
Speaker 1: we want to welcome to the programs. Senator Bob Casey,

660
00:38:24,200 --> 00:38:27,040
Speaker 1: a Democrat from Pennsylvania who has been at the forefront

661
00:38:27,080 --> 00:38:30,839
Speaker 1: of these by partisan negotiations. Senator, thank you for joining us.

662
00:38:31,040 --> 00:38:33,520
Speaker 1: What can you tell us about the timeline for reaching

663
00:38:33,520 --> 00:38:37,160
Speaker 1: an agreement? Hey, Kevin, great to be with you, and

664
00:38:37,200 --> 00:38:41,480
Speaker 1: it's great to be with Pennsylvania. As we already remind

665
00:38:41,480 --> 00:38:43,600
Speaker 1: you that when I see you, yeah, I love that.

666
00:38:45,960 --> 00:38:49,480
Speaker 1: I don't I don't think I have a a fixed

667
00:38:49,680 --> 00:38:55,400
Speaker 1: sense of when they will conclude the negotiations. But really

668
00:38:55,400 --> 00:38:57,399
Speaker 1: good progress has been made. I think part of that

669
00:38:57,520 --> 00:39:00,840
Speaker 1: was part of the impetus for that, and the fact

670
00:39:00,840 --> 00:39:04,160
Speaker 1: that the Majority Leader McConnell is actually in the room

671
00:39:04,200 --> 00:39:07,839
Speaker 1: at least virtually. Um is because of the work done

672
00:39:07,840 --> 00:39:11,560
Speaker 1: by the group of bipartisan senators who worked very hard

673
00:39:11,600 --> 00:39:14,800
Speaker 1: over the course of a number of weeks, so that

674
00:39:14,800 --> 00:39:17,320
Speaker 1: that in in large measure, I think is the predicate

675
00:39:17,520 --> 00:39:20,760
Speaker 1: of what they're working on won't be differences and changes

676
00:39:20,800 --> 00:39:24,959
Speaker 1: in dollar amounts and in some policy too. But um,

677
00:39:25,000 --> 00:39:28,960
Speaker 1: I would be surprised if we didn't have, uh, you know,

678
00:39:29,000 --> 00:39:32,160
Speaker 1: we didn't have at least an agreement in principle, or

679
00:39:32,200 --> 00:39:35,520
Speaker 1: they should say they the five individuals in the room

680
00:39:35,520 --> 00:39:39,640
Speaker 1: and their teams. Um they did. I'd be surprised if

681
00:39:39,680 --> 00:39:43,400
Speaker 1: they did not have an agreement in principle. Um, you know,

682
00:39:43,480 --> 00:39:45,359
Speaker 1: sometime in the next twenty four hours. I hope it's

683
00:39:45,560 --> 00:39:48,000
Speaker 1: hope it sooner. You know. I was struck by this,

684
00:39:48,080 --> 00:39:52,759
Speaker 1: and I was reading the trip earlier today and at

685
00:39:52,880 --> 00:39:55,719
Speaker 1: seeing that you were talking at a local event in

686
00:39:55,719 --> 00:39:59,080
Speaker 1: Pennsylvania and you were talking to some of the many

687
00:39:59,280 --> 00:40:02,560
Speaker 1: folks who our in dire need of economic relief and

688
00:40:02,600 --> 00:40:05,880
Speaker 1: they need it. Now, what specifically are you pushing for,

689
00:40:06,040 --> 00:40:09,279
Speaker 1: Senator in this package that you think could make an

690
00:40:09,280 --> 00:40:13,560
Speaker 1: immediate contribution to the lives of Americans who, through no

691
00:40:13,680 --> 00:40:20,359
Speaker 1: fault of their own, have been absolutely pummeled by the pandemic. Well,

692
00:40:20,360 --> 00:40:22,520
Speaker 1: the good news is that we're at a stage now

693
00:40:22,560 --> 00:40:26,720
Speaker 1: where there's a series of categories, you know, or i'd

694
00:40:26,719 --> 00:40:31,799
Speaker 1: say priorities in in categorical fashion, that are being addressed.

695
00:40:32,280 --> 00:40:37,080
Speaker 1: I don't think people realize that for really, since May.

696
00:40:37,080 --> 00:40:40,160
Speaker 1: When you when you think of May, June, July, August, September,

697
00:40:40,200 --> 00:40:46,240
Speaker 1: all through the fall, Majority Leader McConnell would consider very few,

698
00:40:46,920 --> 00:40:50,520
Speaker 1: if any, of these priorities, just a small number of them,

699
00:40:50,600 --> 00:40:54,360
Speaker 1: and now to have have the prospect of having a

700
00:40:54,400 --> 00:40:58,160
Speaker 1: bill that will cover maybe at least fifteen categories, maybe

701
00:40:58,280 --> 00:41:01,080
Speaker 1: maybe more, is a real right through whether it's you

702
00:41:01,080 --> 00:41:05,400
Speaker 1: know so, I would not this is not exclusive, but

703
00:41:05,480 --> 00:41:12,279
Speaker 1: I certainly include small business, unemployment assistance, food assistants in

704
00:41:12,320 --> 00:41:17,560
Speaker 1: the nutrition programs, number four, education, five, student loans, six,

705
00:41:17,719 --> 00:41:21,120
Speaker 1: vaccine distribution, and then the one that I've been putting

706
00:41:21,120 --> 00:41:24,160
Speaker 1: a lot of time into, nursing homes. We live in

707
00:41:24,200 --> 00:41:28,160
Speaker 1: a country where, because of a pandemic in a in

708
00:41:28,520 --> 00:41:33,359
Speaker 1: an often pathetic federal government response to the pandemic, over

709
00:41:33,440 --> 00:41:38,360
Speaker 1: a hundred and ten thousand Americans died in nursing homes

710
00:41:38,920 --> 00:41:42,320
Speaker 1: or long term care settings. And the death numbers were,

711
00:41:42,360 --> 00:41:46,600
Speaker 1: of course residents combined with workers. But when he had

712
00:41:46,800 --> 00:41:51,680
Speaker 1: the resident deaths, these are mothers and fathers, and grandmothers

713
00:41:51,760 --> 00:41:55,799
Speaker 1: and grandfathers. They fought our wars, they worked in our factories,

714
00:41:55,800 --> 00:41:58,960
Speaker 1: They taught our children, They built the greatest country in

715
00:41:59,000 --> 00:42:02,840
Speaker 1: the world, and we didn't do enough to protect them,

716
00:42:03,000 --> 00:42:07,320
Speaker 1: we the federal government, and I haven't heard the presidents

717
00:42:07,360 --> 00:42:10,479
Speaker 1: say a word about nursing homes all these months, maybe

718
00:42:10,520 --> 00:42:14,280
Speaker 1: not even a not even more than two sentences about

719
00:42:14,320 --> 00:42:18,000
Speaker 1: this tragedy within the larger tragedy. It got worse in

720
00:42:18,040 --> 00:42:20,279
Speaker 1: a report that that I did was Ron White and

721
00:42:20,320 --> 00:42:23,640
Speaker 1: a couple of weeks ago, where in the month of

722
00:42:23,680 --> 00:42:27,520
Speaker 1: November more than fifteen nursing home residents died per hour.

723
00:42:28,360 --> 00:42:31,160
Speaker 1: And this is just one month. We're talking about November,

724
00:42:31,719 --> 00:42:34,279
Speaker 1: and we're only talking about nursing home residents. We're not

725
00:42:34,280 --> 00:42:37,200
Speaker 1: talking about all long term care, we're not talking about

726
00:42:37,200 --> 00:42:41,480
Speaker 1: workers with that, just residents who died in nursing home.

727
00:42:41,560 --> 00:42:47,920
Speaker 1: So this bill will will provide dollars to help nursing

728
00:42:47,960 --> 00:42:51,560
Speaker 1: homes do a lot better job and frankly demand more

729
00:42:51,600 --> 00:42:54,560
Speaker 1: of them. But we've got to help that point of

730
00:42:54,600 --> 00:42:59,480
Speaker 1: finger at Senator he is a Democrat from Pennsylvania. Quickly

731
00:42:59,560 --> 00:43:02,040
Speaker 1: before aste more policy, who should start for the Eagles,

732
00:43:02,120 --> 00:43:06,120
Speaker 1: Jalen Hurts or Carson Wentz. I think you got with

733
00:43:06,760 --> 00:43:10,040
Speaker 1: I could not agree with you more some dynamism and

734
00:43:10,120 --> 00:43:14,160
Speaker 1: some exciting. I think we want to win too. Yes, Okay,

735
00:43:14,200 --> 00:43:16,480
Speaker 1: back to policy. You are a committy. You're the ranking

736
00:43:16,480 --> 00:43:20,720
Speaker 1: member on the Subcommittee of International Trade, Customs, and Global Competitiveness.

737
00:43:21,000 --> 00:43:26,320
Speaker 1: As we as the incoming administration and President Biden take over, uh,

738
00:43:26,400 --> 00:43:29,760
Speaker 1: and and Secretary likely Secretary of State Tony B. Lincoln

739
00:43:30,040 --> 00:43:33,080
Speaker 1: takes over. And the team that they're all assembling, UM

740
00:43:33,280 --> 00:43:36,680
Speaker 1: yelling at Treasury, genet yelling at Treasury, and the likes,

741
00:43:37,200 --> 00:43:40,359
Speaker 1: what are you going to be looking for, Senator in

742
00:43:40,480 --> 00:43:45,160
Speaker 1: terms of the geopolitics from an international trade perspective on

743
00:43:45,239 --> 00:43:49,799
Speaker 1: the relationship with China, Well, first of all, I think

744
00:43:50,120 --> 00:43:53,880
Speaker 1: what I'm gonna do is continue my work in various

745
00:43:53,880 --> 00:44:00,000
Speaker 1: ways to put in place strategies to counter China's aggression. Uh.

746
00:44:00,239 --> 00:44:04,879
Speaker 1: There's no no, no question that on any given day, UM,

747
00:44:05,880 --> 00:44:09,840
Speaker 1: we engage with China in a very productive way, but

748
00:44:09,960 --> 00:44:12,000
Speaker 1: we also are at odds with them on a lot.

749
00:44:12,239 --> 00:44:15,000
Speaker 1: And and it's a I like to describe it as

750
00:44:15,440 --> 00:44:20,680
Speaker 1: a relationship of confrontational engagement. And we can't we can't

751
00:44:20,920 --> 00:44:25,839
Speaker 1: gloss over the confrontational part they are. They are an

752
00:44:25,840 --> 00:44:31,160
Speaker 1: economic adversary. And Uh, if if we don't have a

753
00:44:31,760 --> 00:44:36,279
Speaker 1: have an aggressive posture towards China, Um, they they will

754
00:44:36,320 --> 00:44:41,040
Speaker 1: continue to gain an advantage over and and and put

755
00:44:41,040 --> 00:44:44,000
Speaker 1: our workers at a at a disadvantage. You know, I

756
00:44:44,040 --> 00:44:47,160
Speaker 1: always say said of the thousand, not thousand times, but

757
00:44:47,239 --> 00:44:51,240
Speaker 1: certainly a few hunderd times. When China cheats Pennsylvania workers

758
00:44:51,239 --> 00:44:55,600
Speaker 1: lose jobs. So I want the administration to continue or

759
00:44:55,680 --> 00:44:59,960
Speaker 1: to to put in place policies that match the say

760
00:45:00,120 --> 00:45:03,400
Speaker 1: it's made in the campaign about China. We have to

761
00:45:03,440 --> 00:45:06,000
Speaker 1: be aggressive. How do you make sure, Senator that the

762
00:45:06,040 --> 00:45:09,120
Speaker 1: tariffs don't hurt delt Go, that the tariffs don't hurt

763
00:45:09,200 --> 00:45:12,520
Speaker 1: scrant in terms of when you're when you're trying to

764
00:45:12,600 --> 00:45:16,360
Speaker 1: make sure that Americans just get a fair deal on

765
00:45:16,440 --> 00:45:21,680
Speaker 1: the geopolitical playing field, how do you balance that? Well?

766
00:45:21,680 --> 00:45:25,040
Speaker 1: I think, look at tariffs are are one one tool there.

767
00:45:25,120 --> 00:45:28,719
Speaker 1: They can often be a blunt instrument. But but I look,

768
00:45:28,960 --> 00:45:33,239
Speaker 1: a lot of this is using every tool in the toolbox,

769
00:45:33,360 --> 00:45:39,200
Speaker 1: not not just um, not just aggressive action, but diplomacy. Diplomacy,

770
00:45:39,560 --> 00:45:43,399
Speaker 1: which which is good. Diplomacy is always hard headed. It's

771
00:45:43,400 --> 00:45:46,960
Speaker 1: not it's not it's not soft. It's hard headed and

772
00:45:47,000 --> 00:45:50,399
Speaker 1: it demands something on the other side. Also, I think

773
00:45:50,400 --> 00:45:53,000
Speaker 1: we've got to be we've got to counter China when

774
00:45:53,400 --> 00:45:57,920
Speaker 1: when they go after our intellectual property, especially if you

775
00:45:57,960 --> 00:46:01,399
Speaker 1: know the United States academic or research institutions, we should

776
00:46:01,400 --> 00:46:06,040
Speaker 1: be aggressive. Uh. In that regard, I'm working on legislation

777
00:46:06,080 --> 00:46:10,440
Speaker 1: as well, UM, to make sure that we don't we

778
00:46:10,520 --> 00:46:16,640
Speaker 1: don't have this total dependence upon upon China for certain

779
00:46:18,239 --> 00:46:23,800
Speaker 1: critically important goods that we need or or or frankly,

780
00:46:23,800 --> 00:46:26,240
Speaker 1: in the midst of a pandemic, that we're not dependent

781
00:46:26,280 --> 00:46:31,719
Speaker 1: upon China for personal protective equipment, critical capabilities as is

782
00:46:31,760 --> 00:46:34,239
Speaker 1: the term of art. We can't well, you know, we

783
00:46:34,239 --> 00:46:36,000
Speaker 1: We've got to be able to make our own pop

784
00:46:36,239 --> 00:46:39,720
Speaker 1: not be dependent upon China. And I think that's true

785
00:46:39,719 --> 00:46:43,960
Speaker 1: in other other areas of our economy as well. Senator Casey,

786
00:46:44,000 --> 00:46:46,160
Speaker 1: please come back on and UH and talk about that

787
00:46:46,200 --> 00:46:49,520
Speaker 1: bill once you propose it, because it's it's so incredibly

788
00:46:49,560 --> 00:46:54,520
Speaker 1: important to the critical infrastructure UH, and that is diversified internationally,

789
00:46:54,560 --> 00:46:58,360
Speaker 1: and obviously the pandemic has exposed unfortunately so much of

790
00:46:58,400 --> 00:47:01,440
Speaker 1: that dependency, not just down China, but on other parts

791
00:47:01,520 --> 00:47:05,080
Speaker 1: of the world as well. Senator Casey, you heard it here, folks.

792
00:47:05,520 --> 00:47:10,120
Speaker 1: He wants Jalen Hurts to start for my birds. I agree.

793
00:47:10,560 --> 00:47:13,360
Speaker 1: What can I say, Senator Bob Casey, democraft in Pennsylvania

794
00:47:13,760 --> 00:47:15,440
Speaker 1: much more coming up next with the panel What's on

795
00:47:15,480 --> 00:47:18,440
Speaker 1: their radar? I'm Kevin CERELLI Chief Washington correspondent from Bloomberg

796
00:47:18,480 --> 00:47:46,040
Speaker 1: TV and Radio. You're listening to Bloomberg. I'm Kevin CEREALI

797
00:47:46,080 --> 00:47:49,520
Speaker 1: I'm the chief Washington correspondent for Bloomberg Television and for

798
00:47:50,280 --> 00:47:54,640
Speaker 1: Bloomberg Radio. The surreally chili is in the slow cooker.

799
00:47:54,719 --> 00:47:58,920
Speaker 1: It's been in there since last night. Perfect day for it.

800
00:47:59,080 --> 00:48:02,399
Speaker 1: The weather or agrees with me? The snow, the rain,

801
00:48:02,600 --> 00:48:05,960
Speaker 1: the sleet, who knows, be careful out there on those roads.

802
00:48:06,000 --> 00:48:10,960
Speaker 1: Panels still with me. Kristen Han, democratic strategist, partner at

803
00:48:11,120 --> 00:48:16,680
Speaker 1: Rock Solutions and former Blue Dog Coalition communications director. I

804
00:48:16,719 --> 00:48:20,799
Speaker 1: apologize Kristen for saying Rock the way that I do,

805
00:48:20,920 --> 00:48:22,920
Speaker 1: and I cannot help it. I just I told myself

806
00:48:22,960 --> 00:48:25,000
Speaker 1: I wouldn't do it about aid Block, but we just

807
00:48:25,040 --> 00:48:28,000
Speaker 1: did our two interviews and I'm and I'm off to

808
00:48:28,160 --> 00:48:30,719
Speaker 1: the races, but I'll rain it back in. Congrats on

809
00:48:30,760 --> 00:48:38,400
Speaker 1: the promotion. You're really rocking it. Eli Le, senior reporter

810
00:48:38,680 --> 00:48:41,680
Speaker 1: covering politics at Morning Console. And it's time now for

811
00:48:41,800 --> 00:48:44,279
Speaker 1: my favorite part of the program, which is what is

812
00:48:44,280 --> 00:48:47,480
Speaker 1: on the panel's radar. Eli, I'm going to assign you

813
00:48:47,480 --> 00:48:49,920
Speaker 1: yours because the polls that you guys have out on

814
00:48:49,960 --> 00:48:52,480
Speaker 1: the year end polls over at the Morning Consult are

815
00:48:52,520 --> 00:48:55,640
Speaker 1: really fascinating him. If you're a nerd, They're really fun

816
00:48:55,680 --> 00:48:58,600
Speaker 1: to look at about what's stuck and what news story stuck.

817
00:48:58,640 --> 00:49:01,320
Speaker 1: So we've got plenty of time so unpack this poll

818
00:49:01,400 --> 00:49:03,759
Speaker 1: that you guys set my way for the year end

819
00:49:03,760 --> 00:49:07,759
Speaker 1: analysis on on what story is really stuck. Well, thanks

820
00:49:08,000 --> 00:49:09,359
Speaker 1: for the the last couple of years, we've been doing this

821
00:49:09,400 --> 00:49:13,399
Speaker 1: project called Seeing Red Herd Morning Consult and we look at, um,

822
00:49:13,400 --> 00:49:16,359
Speaker 1: what news sort of penetrates the minds of voters at

823
00:49:16,360 --> 00:49:19,120
Speaker 1: the time. We asked them how much that they told

824
00:49:19,160 --> 00:49:22,239
Speaker 1: a lot about various stories, and you know, going through

825
00:49:22,239 --> 00:49:25,200
Speaker 1: this project, you remember a bunch of stuff that you

826
00:49:25,280 --> 00:49:27,440
Speaker 1: kind of forget, Like at the beginning of the year,

827
00:49:27,480 --> 00:49:30,640
Speaker 1: we almost went to the wrong and impeach kind of

828
00:49:30,680 --> 00:49:33,000
Speaker 1: hung over to the year um, and so it's always

829
00:49:33,000 --> 00:49:35,719
Speaker 1: gonna look back on much. This is fascinating to me

830
00:49:35,800 --> 00:49:38,000
Speaker 1: because we were talking about this, Christine Brada and I

831
00:49:38,080 --> 00:49:41,000
Speaker 1: and our and our producer Matt Shirley. We were talking

832
00:49:41,040 --> 00:49:44,279
Speaker 1: about all of the things that happened before the pandemic

833
00:49:44,680 --> 00:49:48,399
Speaker 1: this year alone. You just mentioned Iran, you mentioned impeachment,

834
00:49:49,080 --> 00:49:53,640
Speaker 1: remember the Iowa caucuses and and the debacle and and

835
00:49:53,680 --> 00:49:56,719
Speaker 1: the the glitch that that happened. I remember that. I

836
00:49:56,719 --> 00:49:58,960
Speaker 1: mean so many different news stories and what the Morning

837
00:49:58,960 --> 00:50:03,160
Speaker 1: Consult did, folks is it's called seen read heard, so

838
00:50:03,440 --> 00:50:06,720
Speaker 1: really unpacked this because you guys asked a hundred thousand

839
00:50:06,840 --> 00:50:10,360
Speaker 1: registered voters how much they'd seen, read, or heard about

840
00:50:10,400 --> 00:50:14,400
Speaker 1: more than three hundred and seventy different current events. They

841
00:50:14,640 --> 00:50:19,120
Speaker 1: they've been doing it in nineteen And in the big picture,

842
00:50:19,960 --> 00:50:22,680
Speaker 1: what were some of the biggest stories that jumped out

843
00:50:22,719 --> 00:50:26,520
Speaker 1: that maybe we all forgot about this year but got

844
00:50:26,520 --> 00:50:29,239
Speaker 1: a lot of attentions. Well, one of the bigger ones

845
00:50:29,360 --> 00:50:31,680
Speaker 1: that um, honest to god, I forgot about was the

846
00:50:31,719 --> 00:50:35,080
Speaker 1: Yeshoding log fires in January like six, and voters forard

847
00:50:35,080 --> 00:50:37,600
Speaker 1: a lot about that at the time. The biggest of

848
00:50:37,640 --> 00:50:40,120
Speaker 1: the year by far was the death of Kobe Bryant.

849
00:50:40,400 --> 00:50:44,319
Speaker 1: I'm in Albaco crash in California. UM about seventy five

850
00:50:44,400 --> 00:50:49,239
Speaker 1: percent of voters about the immediate aftermath. Um, Look, we

851
00:50:49,400 --> 00:50:50,920
Speaker 1: kind of broke down the year and the things like

852
00:50:51,000 --> 00:50:55,120
Speaker 1: the politics, pandemic, protests, some of the big themes that

853
00:50:55,239 --> 00:50:57,920
Speaker 1: stuck out throughout the year. Um. One of the bigger

854
00:50:57,960 --> 00:51:00,800
Speaker 1: things that that stuck out in the summertime was the

855
00:51:00,880 --> 00:51:03,760
Speaker 1: killing of George Floyd. People knew a lot about that. Um.

856
00:51:03,800 --> 00:51:06,440
Speaker 1: You know, more people actually heard about down the election front,

857
00:51:06,760 --> 00:51:11,279
Speaker 1: UM Trump's refusal to concede than Joe Biden's victory UM

858
00:51:12,280 --> 00:51:15,759
Speaker 1: in November. UM. And then of course the pandemic. You know, look,

859
00:51:15,840 --> 00:51:18,040
Speaker 1: voters were paying attention to it early on. They knew

860
00:51:18,080 --> 00:51:22,359
Speaker 1: about it in in January when the first cases were

861
00:51:22,360 --> 00:51:24,719
Speaker 1: reported in the in the country, and uh, and then

862
00:51:24,719 --> 00:51:27,040
Speaker 1: it turned out one of the bigger events was, UM,

863
00:51:27,080 --> 00:51:30,239
Speaker 1: you know, the Caresack passing, the pandemic being declared in

864
00:51:30,239 --> 00:51:33,719
Speaker 1: the national emergency. But you know, we see a lot

865
00:51:33,920 --> 00:51:35,799
Speaker 1: and this is something we've seen for the last few

866
00:51:35,880 --> 00:51:40,360
Speaker 1: years from a lot of notable partisan divides, and just frankly,

867
00:51:40,400 --> 00:51:42,319
Speaker 1: Democrats are more likely to hear about the kind of

868
00:51:42,320 --> 00:51:45,920
Speaker 1: news that we're thinking about here in Washington than Republicans are.

869
00:51:46,120 --> 00:51:48,560
Speaker 1: I mean, there's a thirty three point spread on the

870
00:51:48,640 --> 00:51:51,480
Speaker 1: number of Republican Democrats and Republicans who heard that Trump

871
00:51:51,480 --> 00:51:55,640
Speaker 1: wouldn't commit to leading office. UM about a three intent spread.

872
00:51:55,719 --> 00:51:58,719
Speaker 1: And the stand back and stand by comments about the

873
00:51:58,760 --> 00:52:00,920
Speaker 1: proud boys. If I the only event on the top

874
00:52:00,960 --> 00:52:03,680
Speaker 1: of our lists that I'm guarnered more Republican attention was

875
00:52:03,719 --> 00:52:06,839
Speaker 1: Trump's State of the Union address. Republicans were more likely

876
00:52:06,880 --> 00:52:09,560
Speaker 1: to hear about things like the Hunter Biden scandals that

877
00:52:09,719 --> 00:52:13,520
Speaker 1: terror read issues that were being pressed on conservative media,

878
00:52:14,040 --> 00:52:16,200
Speaker 1: and you know other polly we've done suggest that might

879
00:52:16,960 --> 00:52:19,600
Speaker 1: be as aspirated over the next few years. Um. You know,

880
00:52:19,640 --> 00:52:22,480
Speaker 1: Donald Trump has spent a lot of time since the

881
00:52:22,520 --> 00:52:26,160
Speaker 1: election attacking thoughts news and where a pretty good based

882
00:52:26,160 --> 00:52:29,360
Speaker 1: on Republicans get their information. We've seen Fox News a

883
00:52:29,400 --> 00:52:33,480
Speaker 1: favorability drop like thirteen fifteen points UM since the election

884
00:52:33,800 --> 00:52:36,360
Speaker 1: as he pressed his folks to look elsewhere. And so

885
00:52:36,560 --> 00:52:38,680
Speaker 1: that maybe I've told the integrity of this segment about

886
00:52:38,719 --> 00:52:41,560
Speaker 1: what we're watching, Kevin. Um. You know, I'm gonna be

887
00:52:41,600 --> 00:52:44,000
Speaker 1: thinking a lot about whether Donald Trump is able to

888
00:52:45,040 --> 00:52:49,080
Speaker 1: UM dampen the hold that Fox News has among among

889
00:52:49,120 --> 00:52:53,040
Speaker 1: conservative viewers and and sort of expand these news bubbles

890
00:52:53,040 --> 00:52:55,600
Speaker 1: that we um as Americans find ourselves in. Over the

891
00:52:55,600 --> 00:52:58,919
Speaker 1: next thing. It's interesting and this UH be seen read

892
00:52:59,000 --> 00:53:03,960
Speaker 1: and heard a twenty from the morning console of their

893
00:53:04,520 --> 00:53:08,600
Speaker 1: uh polster people that they pulled UH heard about the

894
00:53:08,640 --> 00:53:13,680
Speaker 1: news of Kobe Bryant's death. Only fifty eight percent of

895
00:53:13,840 --> 00:53:19,040
Speaker 1: people pulled heard about Trump's acquittal from the impeached from

896
00:53:19,120 --> 00:53:24,800
Speaker 1: impeachment in the Senate and the death of Rbgent for

897
00:53:24,800 --> 00:53:27,879
Speaker 1: for people pulled heard about that as well. So it's

898
00:53:27,920 --> 00:53:32,240
Speaker 1: fascinating to see what breaks through and what doesn't, um

899
00:53:32,360 --> 00:53:35,080
Speaker 1: and and so many. And it's it's also fascinating to

900
00:53:35,280 --> 00:53:37,000
Speaker 1: sort of kind of look back and be like, that

901
00:53:37,080 --> 00:53:39,840
Speaker 1: happened this year. That happened this year as well. Great

902
00:53:39,840 --> 00:53:41,719
Speaker 1: stuff from the Morning consult on this. It's it's a

903
00:53:41,719 --> 00:53:45,000
Speaker 1: really fascinating look back on so many of the different

904
00:53:45,000 --> 00:53:48,440
Speaker 1: news stories and what's stuck. Uh, christ and Han, what's

905
00:53:48,440 --> 00:53:51,560
Speaker 1: on your radar? Well, I mean, first of all as

906
00:53:51,600 --> 00:53:53,040
Speaker 1: a text, then I kind of want to come over

907
00:53:53,080 --> 00:53:55,320
Speaker 1: and have a chili cook off. Oh I'm sure you

908
00:53:55,360 --> 00:53:57,680
Speaker 1: would win, but actually I don't know. I'm kind of

909
00:53:57,920 --> 00:54:02,920
Speaker 1: I'm gonna be humble. I enjoy Listen, the more chilly

910
00:54:03,000 --> 00:54:05,520
Speaker 1: the better. So if you want to make chili, you

911
00:54:05,560 --> 00:54:10,640
Speaker 1: can eat some really chilly anytime. You know, there's always

912
00:54:10,680 --> 00:54:13,440
Speaker 1: from at the table, right right, But I'm not afraid

913
00:54:13,480 --> 00:54:17,640
Speaker 1: to eat alone, am I right? You've understood? Go ahead? Christian? Yes, no, um,

914
00:54:18,080 --> 00:54:20,279
Speaker 1: you know, I in all seriously, I think, you know,

915
00:54:20,719 --> 00:54:24,719
Speaker 1: as the pandemic you know, continues to rage. Um, you know,

916
00:54:24,880 --> 00:54:26,960
Speaker 1: the federal government. We talked about what the federal government

917
00:54:27,000 --> 00:54:30,400
Speaker 1: is doing, but I think we as people who live

918
00:54:30,480 --> 00:54:33,239
Speaker 1: in each of our communities across the country, really have

919
00:54:33,320 --> 00:54:35,399
Speaker 1: a responsibility. And I've been lucky enough to work from

920
00:54:35,440 --> 00:54:38,640
Speaker 1: home um and be okay, but a lot of people

921
00:54:38,640 --> 00:54:41,000
Speaker 1: are not. And I live in Washington, DC, and so

922
00:54:41,040 --> 00:54:44,319
Speaker 1: I've been looking for organizations to to get involved with.

923
00:54:44,440 --> 00:54:47,520
Speaker 1: In one that I'd just like to highlight in Washington,

924
00:54:47,920 --> 00:54:51,479
Speaker 1: UM in street Villages, you know, they do such great

925
00:54:51,480 --> 00:54:55,000
Speaker 1: work with women, um, you know, helping them live a

926
00:54:55,080 --> 00:54:59,160
Speaker 1: high quality of life, dealing with everything from income, employment,

927
00:54:59,600 --> 00:55:02,719
Speaker 1: you know, physical health, addiction, recovery, mental health, and and

928
00:55:02,760 --> 00:55:05,000
Speaker 1: a lot of these things people are obviously dealing with

929
00:55:05,120 --> 00:55:08,879
Speaker 1: right now as as we're all kind of been still

930
00:55:08,960 --> 00:55:11,239
Speaker 1: in in the midst of this pandemic. So I'd just

931
00:55:11,320 --> 00:55:13,919
Speaker 1: like to to put a shout out to this this

932
00:55:14,080 --> 00:55:17,560
Speaker 1: organization that's doing such good and meaningful work in the

933
00:55:17,640 --> 00:55:19,520
Speaker 1: nation's capital, which a lot of times, you know, we

934
00:55:19,560 --> 00:55:22,680
Speaker 1: see you think of Washington, d C. And people call

935
00:55:22,719 --> 00:55:24,840
Speaker 1: it the swamp but it's really a community of people

936
00:55:25,200 --> 00:55:28,360
Speaker 1: who are coming together to help each other. Um survived this,

937
00:55:28,520 --> 00:55:31,360
Speaker 1: just like everybody else is all throughout the country. That

938
00:55:31,880 --> 00:55:33,560
Speaker 1: is what I'm thinking about, you know. I think that's

939
00:55:33,560 --> 00:55:36,040
Speaker 1: a good thing to think about, especially this time of year,

940
00:55:36,360 --> 00:55:38,920
Speaker 1: and and and you know, you're right. I mean, one

941
00:55:38,920 --> 00:55:41,000
Speaker 1: of the things I like to think that drew so

942
00:55:41,040 --> 00:55:44,719
Speaker 1: many of us into this town is the optimism of

943
00:55:44,719 --> 00:55:47,080
Speaker 1: of making a positive impact on the part of a

944
00:55:47,120 --> 00:55:50,839
Speaker 1: broader team. So that's some good, uh, some good analysis,

945
00:55:50,840 --> 00:55:54,680
Speaker 1: some needed analysis on this cold, dark, dreary day in

946
00:55:54,960 --> 00:55:58,359
Speaker 1: uh in the nation's capital. But there's a vaccine. Now,

947
00:55:58,480 --> 00:56:00,480
Speaker 1: there is a vaccine. Now. Here's what's on I radar

948
00:56:00,840 --> 00:56:02,839
Speaker 1: that we haven't had enough time to talk about because

949
00:56:02,840 --> 00:56:04,640
Speaker 1: of the fiscal stimulus talks, but the breach of a

950
00:56:04,719 --> 00:56:07,759
Speaker 1: larger campaign that included hack of fire I and one

951
00:56:07,800 --> 00:56:11,120
Speaker 1: of the most audacious hacks in recent memory. US government

952
00:56:11,120 --> 00:56:14,200
Speaker 1: agencies were attacked as part of a global campaign that

953
00:56:14,280 --> 00:56:17,560
Speaker 1: exploited a flaw and software updates of the US company.

954
00:56:17,600 --> 00:56:20,040
Speaker 1: The hackers are suspected to be part of a notorious

955
00:56:20,080 --> 00:56:23,560
Speaker 1: hacking group tied to the Russian government. This first reported

956
00:56:23,600 --> 00:56:26,840
Speaker 1: by the Washington Post. It included breaches at the Treasury Department,

957
00:56:26,880 --> 00:56:30,960
Speaker 1: the Commerce Department, and those of other government agencies, and

958
00:56:31,040 --> 00:56:33,680
Speaker 1: an attack that started months ago. According to the Post,

959
00:56:33,760 --> 00:56:36,800
Speaker 1: the same hacking group is also believed to be behind

960
00:56:36,800 --> 00:56:40,080
Speaker 1: the recent attack on the cyber security firm fire Eye.

961
00:56:40,480 --> 00:56:44,919
Speaker 1: Like colleagues Kurt Wagner a Bloomberg Technology and Ben Brody,

962
00:56:45,200 --> 00:56:47,560
Speaker 1: who of course both of them have been on this program,

963
00:56:47,600 --> 00:56:50,520
Speaker 1: just really doing incredible reporting on that front as well.

964
00:56:50,920 --> 00:56:54,760
Speaker 1: My thanks to the panel, Eli Yokali, Kristen Hans Senator,

965
00:56:54,880 --> 00:57:00,239
Speaker 1: Casey Congressman read tomorrow we check in uh with more

966
00:57:00,640 --> 00:57:06,960
Speaker 1: of Kevin's Really you're listening to Bloomberg one you used

967
00:57:06,960 --> 00:57:11,279
Speaker 1: to work. Get to make a little money. M