1 00:00:01,680 --> 00:00:06,200 Speaker 1: Now from our nation's capital. This is Bloomberg Sound on. 2 00:00:06,920 --> 00:00:10,200 Speaker 1: If you think inflation is bad, now imagine what happens 3 00:00:10,200 --> 00:00:14,040 Speaker 1: when a railroads go offline just in time for Christmas. 4 00:00:14,120 --> 00:00:17,079 Speaker 1: All my staff has sick days. Most of the people 5 00:00:17,280 --> 00:00:19,479 Speaker 1: that work for this body have sick days. Why is 6 00:00:19,560 --> 00:00:24,000 Speaker 1: Congress doing this? The reason is, Madam Speaker, because the 7 00:00:24,000 --> 00:00:28,640 Speaker 1: president fail. Bloomberg Sound On Politics, Policy and perspective from 8 00:00:28,760 --> 00:00:31,840 Speaker 1: DC's top name. Well, maybe hours come for a new 9 00:00:31,920 --> 00:00:36,480 Speaker 1: generation to lead the Democratic Caucus. House. Democrats have vastly 10 00:00:36,760 --> 00:00:42,239 Speaker 1: overperformed expectations, and we will have momentum going into the 11 00:00:42,280 --> 00:00:45,880 Speaker 1: one hundred and eighteen Congress. Bloomberg Sound On with Joe 12 00:00:45,920 --> 00:00:50,400 Speaker 1: Matthew on Bloomberg Radio. Now it's up to the Senate. 13 00:00:50,520 --> 00:00:53,160 Speaker 1: Welcome to the fastest hour in politics is the US 14 00:00:53,200 --> 00:00:57,360 Speaker 1: House passes legislation to block a rail workers strike, setting 15 00:00:57,400 --> 00:00:59,880 Speaker 1: the bill next door with paid sick leave also on 16 00:01:00,040 --> 00:01:02,080 Speaker 1: the line. We'll have the latest day head with Art Wheaton, 17 00:01:02,200 --> 00:01:07,200 Speaker 1: former labor negotiator, director of Labor Studies at Cornell University. 18 00:01:07,319 --> 00:01:09,880 Speaker 1: Did J. Powell just send the message Wall Street's been 19 00:01:09,920 --> 00:01:12,600 Speaker 1: waiting for. We'll go to school with Bloomberg's Michael McKee, 20 00:01:12,640 --> 00:01:15,959 Speaker 1: who was with the Fedshare today and as House Democrats 21 00:01:15,959 --> 00:01:18,160 Speaker 1: elect ha Team Jeffreys as their new leader, will talk 22 00:01:18,200 --> 00:01:22,280 Speaker 1: about the challenges ahead with Michael Hardaway, former communications director 23 00:01:22,680 --> 00:01:27,760 Speaker 1: for Congressman Jefferies. Analysis from our signature panel Bloomberg Politics 24 00:01:27,760 --> 00:01:30,440 Speaker 1: contributors Rick Davis and Jeannie Chanzano are ready to go. 25 00:01:30,840 --> 00:01:33,199 Speaker 1: It was a quick one to punch in the House today. 26 00:01:33,200 --> 00:01:36,920 Speaker 1: The first punch approving the bill forcing rail workers to 27 00:01:37,080 --> 00:01:39,960 Speaker 1: accept terms of the agreement that was announced their labor 28 00:01:40,000 --> 00:01:43,920 Speaker 1: agreement announced in September. On this vote, the a's are 29 00:01:43,920 --> 00:01:50,800 Speaker 1: two ninety seven. The joint Resolutionists passed. Alright, there you 30 00:01:50,840 --> 00:01:52,960 Speaker 1: have it, the two punch clearing a bill to provide 31 00:01:53,000 --> 00:01:56,360 Speaker 1: seven days paid sick time. Dare to dream, and this vote, 32 00:01:56,400 --> 00:01:59,360 Speaker 1: the a's are two one and the names are two 33 00:01:59,360 --> 00:02:03,920 Speaker 1: oh seven. Without objection, the motion to reconsider is laid 34 00:02:03,920 --> 00:02:08,960 Speaker 1: on the table, the concurrent resolution is adopted, or about objection, 35 00:02:08,960 --> 00:02:12,440 Speaker 1: the motion reconsiders laid on the table. Oh seventy said 36 00:02:12,520 --> 00:02:15,080 Speaker 1: unclear exactly where that second bill that was going in 37 00:02:15,200 --> 00:02:18,720 Speaker 1: the Senate. Either way, it came after Speaker Nancy Pelosi 38 00:02:18,800 --> 00:02:22,480 Speaker 1: made the case on the floor. The slash jobs, increased hours, 39 00:02:22,480 --> 00:02:26,919 Speaker 1: and cut corners on safety while demanding more and more 40 00:02:27,480 --> 00:02:31,840 Speaker 1: from the workers. And rather than reinvesting their profits into 41 00:02:31,840 --> 00:02:35,280 Speaker 1: the workers over the past decade, they've given a hundred 42 00:02:35,360 --> 00:02:40,079 Speaker 1: and fifty billion dollars in handouts to their corporate executives 43 00:02:40,400 --> 00:02:44,440 Speaker 1: and wealthiest investors. It's just not right yet. The whole 44 00:02:44,480 --> 00:02:47,960 Speaker 1: idea of adding this as a separate piece of legislation, 45 00:02:48,040 --> 00:02:52,640 Speaker 1: the sick time, separate from the other bill that would 46 00:02:52,720 --> 00:02:55,640 Speaker 1: force workers to accept the deal that's on the table, 47 00:02:56,360 --> 00:02:59,440 Speaker 1: was panned by many on social media. Overnight, this came 48 00:02:59,440 --> 00:03:02,600 Speaker 1: out as whole idea came out in a Dear colleague 49 00:03:02,720 --> 00:03:06,400 Speaker 1: letter from Speaker Pelosi after the program yesterday. This is 50 00:03:06,400 --> 00:03:09,040 Speaker 1: where we begin with Art Wheaton. He's back with us 51 00:03:09,120 --> 00:03:11,880 Speaker 1: exactly one week later, Director of Labor Studies at Cornell 52 00:03:11,960 --> 00:03:15,480 Speaker 1: University School of Industrial and Labor Relations, Art, thank you 53 00:03:15,520 --> 00:03:17,760 Speaker 1: for being here. A lot's happened since we last spoke, 54 00:03:17,760 --> 00:03:20,040 Speaker 1: and that's why we wanted to pick up with you here. 55 00:03:20,639 --> 00:03:22,560 Speaker 1: What did you think of this idea, first of all, 56 00:03:22,560 --> 00:03:26,280 Speaker 1: to offer these as two separate bills. Well, I think 57 00:03:26,360 --> 00:03:31,639 Speaker 1: having one bill that got a lot of um support 58 00:03:31,720 --> 00:03:34,800 Speaker 1: from both the Democrats and Republicans is the safe way 59 00:03:35,240 --> 00:03:37,520 Speaker 1: the second bill. It is up to the Senate to 60 00:03:37,640 --> 00:03:40,080 Speaker 1: decide whether or not they want to add the seven 61 00:03:40,520 --> 00:03:43,760 Speaker 1: paid sick days, but that's not likely to happen, right, 62 00:03:43,760 --> 00:03:45,760 Speaker 1: So a lot of people saw this as Nancy Pelosi 63 00:03:45,800 --> 00:03:47,800 Speaker 1: maybe leaving workers a bit short. Do you not see 64 00:03:47,800 --> 00:03:51,760 Speaker 1: it that way? I agree that the workers deserve the 65 00:03:51,840 --> 00:03:55,120 Speaker 1: seven days off, but they need to get enough votes 66 00:03:55,120 --> 00:03:57,360 Speaker 1: in the Senate for it to pass, otherwise we have 67 00:03:57,440 --> 00:04:00,960 Speaker 1: a strike. So if the Senators want to add more 68 00:04:00,960 --> 00:04:04,840 Speaker 1: time than Nancy Pelosi has given them, the bill already 69 00:04:04,880 --> 00:04:07,920 Speaker 1: passed in the House, but I would I would guess 70 00:04:07,960 --> 00:04:10,560 Speaker 1: they're not going to add the seven days in the Senate, 71 00:04:10,760 --> 00:04:14,480 Speaker 1: right So, you know, hence the reaction online it was 72 00:04:14,640 --> 00:04:19,320 Speaker 1: it was pronounced this morning, uh Art. There's been a 73 00:04:19,400 --> 00:04:22,160 Speaker 1: lot of criticism of the Biden administration for not being 74 00:04:22,200 --> 00:04:24,400 Speaker 1: able to close this deal. I have a couple of 75 00:04:24,480 --> 00:04:27,920 Speaker 1: questions for you on that. As a former labor negotiator. 76 00:04:28,720 --> 00:04:31,680 Speaker 1: What pushed the White House? What pushed President Biden to 77 00:04:31,800 --> 00:04:34,480 Speaker 1: call on Congress to intervene, What was the whisper, What 78 00:04:34,560 --> 00:04:37,400 Speaker 1: was the phone call? When did they say, oh my gosh, 79 00:04:37,839 --> 00:04:40,600 Speaker 1: this is out of our hands. Now. Well, I'd love 80 00:04:40,640 --> 00:04:42,560 Speaker 1: to say that he called me first to talk to 81 00:04:42,600 --> 00:04:44,679 Speaker 1: me about it, but I have no clue. We wouldn't 82 00:04:44,680 --> 00:04:48,320 Speaker 1: be final push was right, But my my guess is 83 00:04:48,400 --> 00:04:52,160 Speaker 1: that it's getting close to the holidays, and that a 84 00:04:52,160 --> 00:04:54,800 Speaker 1: lot of the companies make their decisions on whether the 85 00:04:54,839 --> 00:04:58,360 Speaker 1: ship by rail a week or more in advance. So 86 00:04:58,440 --> 00:05:03,120 Speaker 1: if there's a strike, they will stop sending fuel, chemicals, 87 00:05:03,240 --> 00:05:05,560 Speaker 1: any kind of hazardous waste. They won't send it by 88 00:05:05,640 --> 00:05:09,040 Speaker 1: rail if the snipe if a strike is imminent to come, 89 00:05:09,400 --> 00:05:11,640 Speaker 1: So they needed to have it done a week in advance. 90 00:05:11,720 --> 00:05:14,119 Speaker 1: And I think we all know that Congress doesn't act 91 00:05:14,440 --> 00:05:16,599 Speaker 1: at the speed of light, so sometimes they need a 92 00:05:16,600 --> 00:05:18,800 Speaker 1: little head time to get it past. Right, So this 93 00:05:18,839 --> 00:05:20,960 Speaker 1: is a grunch you stole Christmas kind of story, right. 94 00:05:21,000 --> 00:05:23,720 Speaker 1: They could not afford to get it any closer to 95 00:05:23,720 --> 00:05:27,800 Speaker 1: the holidays. That's correct. That they are allowed to go 96 00:05:27,839 --> 00:05:31,760 Speaker 1: out on strike legally on December the nine, which means 97 00:05:31,800 --> 00:05:35,320 Speaker 1: on December the second, which is this weekend. They would 98 00:05:35,640 --> 00:05:38,200 Speaker 1: they would have to know ahead of time whether there's 99 00:05:38,240 --> 00:05:40,920 Speaker 1: going to be a strike or not, so getting Congress 100 00:05:40,960 --> 00:05:43,839 Speaker 1: to act takes time. They wanted to give them adequate 101 00:05:43,920 --> 00:05:47,640 Speaker 1: amount of time to pass the legislation to avoid a strike, 102 00:05:48,000 --> 00:05:51,400 Speaker 1: and I think Nancy Pelosi gave them an option to 103 00:05:51,440 --> 00:05:53,960 Speaker 1: add the days if they wanted to. And I think 104 00:05:54,000 --> 00:05:57,680 Speaker 1: it also helps to silence some of the Republican senators 105 00:05:57,680 --> 00:05:59,720 Speaker 1: who were saying, oh, we don't want to pass anything 106 00:05:59,720 --> 00:06:03,800 Speaker 1: that the workers haven't already said yes to. There's room 107 00:06:03,839 --> 00:06:06,320 Speaker 1: to add what they would agree to. So it's like, Okay, 108 00:06:06,360 --> 00:06:08,400 Speaker 1: if you don't want to pass it without the extra time, 109 00:06:08,480 --> 00:06:10,400 Speaker 1: here's the extra time if you want to choose to 110 00:06:10,400 --> 00:06:13,520 Speaker 1: do so. But as you mentioned prior to this, the 111 00:06:13,640 --> 00:06:17,800 Speaker 1: vote was really close, pretty much along party lines when 112 00:06:17,800 --> 00:06:21,920 Speaker 1: they added the extra sick days in does the Biden 113 00:06:21,920 --> 00:06:24,440 Speaker 1: administration deserve the level of criticism it's getting. It's coming 114 00:06:24,480 --> 00:06:27,719 Speaker 1: from both sides of the aisle art Well, if you 115 00:06:28,040 --> 00:06:30,400 Speaker 1: if you have the job, you get the responsibility, So 116 00:06:30,480 --> 00:06:32,719 Speaker 1: criticism is part of the job. I think he has 117 00:06:33,080 --> 00:06:36,640 Speaker 1: pretty thick skin. But the Congress has authority to handle 118 00:06:36,640 --> 00:06:38,240 Speaker 1: this as well. Right, how come it's all about the 119 00:06:38,279 --> 00:06:41,839 Speaker 1: executive branch handling this right now? I think he put 120 00:06:41,880 --> 00:06:44,840 Speaker 1: it in the hands of the Congress. I think Congress 121 00:06:44,920 --> 00:06:49,280 Speaker 1: does have have the right. It's Nancy Pelosi passed two options, 122 00:06:49,320 --> 00:06:53,320 Speaker 1: and now it's up to Mitch McConnell and uh Chuck 123 00:06:53,360 --> 00:06:56,320 Speaker 1: Schumer to decide which path they want to try to take. 124 00:06:56,600 --> 00:06:59,760 Speaker 1: But whichever path that is, nobody wants to have in 125 00:07:00,080 --> 00:07:02,599 Speaker 1: lations start creeping up, and nobody wants to have a 126 00:07:02,640 --> 00:07:06,040 Speaker 1: real strike during the holidays. A lot of the more 127 00:07:06,080 --> 00:07:08,680 Speaker 1: pointful fingers at the other end of Pennsylvania Avenue, you know, 128 00:07:08,839 --> 00:07:11,280 Speaker 1: saying listen, this is you should have closed the deal 129 00:07:11,320 --> 00:07:14,000 Speaker 1: on this. Don't don't bring us into your problems. And 130 00:07:14,040 --> 00:07:17,680 Speaker 1: it is fascinating to me to hear, you know, Elizabeth 131 00:07:17,680 --> 00:07:21,320 Speaker 1: Warren essentially sending the same message as as Senator John 132 00:07:21,400 --> 00:07:24,280 Speaker 1: Kennedy along with other conservatives. Listen to Elizabeth Warren today 133 00:07:24,280 --> 00:07:26,080 Speaker 1: on the floor. I still like to see the parties 134 00:07:26,120 --> 00:07:28,640 Speaker 1: come to an agreement. They're very close. The only thing 135 00:07:28,680 --> 00:07:30,960 Speaker 1: that stands in the way is I understand it now 136 00:07:31,640 --> 00:07:35,080 Speaker 1: is about sickly and I think we should keep urging 137 00:07:35,120 --> 00:07:37,880 Speaker 1: the parties in that direction. Does he doesn't want Congress 138 00:07:37,960 --> 00:07:40,280 Speaker 1: to solve this anymore than he does instead of trying 139 00:07:40,320 --> 00:07:43,080 Speaker 1: to continue to work on it, but the President is 140 00:07:43,160 --> 00:07:46,520 Speaker 1: dumped it on us and said I want you to intervene. 141 00:07:46,600 --> 00:07:48,960 Speaker 1: I want you to fix this, and I want you 142 00:07:49,040 --> 00:07:51,000 Speaker 1: in doing so. I want you to screw the workers, 143 00:07:51,040 --> 00:07:53,440 Speaker 1: maybe for different reasons, but it's art all of a sudden, 144 00:07:53,480 --> 00:07:59,920 Speaker 1: everybody's friendly to union labor. Yeah, I hope it continues. 145 00:08:00,000 --> 00:08:02,080 Speaker 1: I like them all to be very friendly to union 146 00:08:02,160 --> 00:08:06,680 Speaker 1: labor for a long time. Yeah, it's it's not law 147 00:08:06,760 --> 00:08:10,440 Speaker 1: until President Biden signs it, so there's nothing that's stopping 148 00:08:10,480 --> 00:08:12,960 Speaker 1: them from negotiate. They can make this deal tonight. They 149 00:08:12,960 --> 00:08:16,200 Speaker 1: could say, fine, we agree and we will add the 150 00:08:16,280 --> 00:08:19,600 Speaker 1: sick days, and the union would more than likely ratify 151 00:08:19,640 --> 00:08:21,720 Speaker 1: it sign off on it. The problem is is it 152 00:08:21,760 --> 00:08:24,400 Speaker 1: takes it takes a little while for a new vote, 153 00:08:25,000 --> 00:08:27,920 Speaker 1: So what they don't want to happen is another ratification 154 00:08:28,040 --> 00:08:30,600 Speaker 1: votes that would put it past the deadline for them 155 00:08:30,640 --> 00:08:34,960 Speaker 1: to go out on strike. So this ends the could 156 00:08:35,160 --> 00:08:38,040 Speaker 1: and the possibility of a strike if they can pass this, 157 00:08:38,520 --> 00:08:41,680 Speaker 1: but it doesn't block them from negotiating a new deal. 158 00:08:41,800 --> 00:08:44,000 Speaker 1: If they announced a brand new deal with the added 159 00:08:44,040 --> 00:08:46,679 Speaker 1: sick days, then I think President Biden would just put 160 00:08:46,679 --> 00:08:48,000 Speaker 1: it in his pocket and say I'm not going to 161 00:08:48,120 --> 00:08:51,000 Speaker 1: sign this if they have a deal. But you don't 162 00:08:51,080 --> 00:08:53,360 Speaker 1: want to wait until the route on strike and saying, oh, 163 00:08:53,600 --> 00:08:56,360 Speaker 1: now we'll have Congress act. That doesn't work very well, 164 00:08:56,600 --> 00:08:58,720 Speaker 1: are we And we heard from j Powell today talking 165 00:08:58,760 --> 00:09:00,559 Speaker 1: about inflation. We're gonna have more on this in a 166 00:09:00,600 --> 00:09:04,080 Speaker 1: minute with Michael McKee. How concerned are you? And and 167 00:09:04,160 --> 00:09:06,440 Speaker 1: let's let's hear from him for just a second. I'll 168 00:09:06,480 --> 00:09:09,680 Speaker 1: have you react to his his message on interest rates. 169 00:09:09,760 --> 00:09:11,760 Speaker 1: It seems to me likely that the ultimate level of 170 00:09:11,880 --> 00:09:14,240 Speaker 1: rates will need to be somewhat higher than thought at 171 00:09:14,240 --> 00:09:16,360 Speaker 1: the time of the September meeting in the Summary of 172 00:09:16,360 --> 00:09:19,720 Speaker 1: Economic projections. I will return to policy at the end 173 00:09:19,720 --> 00:09:21,599 Speaker 1: of my comments, but for now, I'll simply say that 174 00:09:21,640 --> 00:09:23,280 Speaker 1: we have more ground to cover. We have more ground 175 00:09:23,280 --> 00:09:25,600 Speaker 1: to cover here art. How about on the rails? What 176 00:09:25,640 --> 00:09:28,840 Speaker 1: does this mean for the industry and for shipping. I 177 00:09:28,880 --> 00:09:31,200 Speaker 1: think if they did go out on strike, it would 178 00:09:31,240 --> 00:09:34,800 Speaker 1: have a dramatic impact on the inflation, which would mean 179 00:09:34,840 --> 00:09:37,720 Speaker 1: they would also have to raise rates even higher. So 180 00:09:37,760 --> 00:09:40,040 Speaker 1: I think they are connected. And I think that's part 181 00:09:40,080 --> 00:09:44,400 Speaker 1: of President Biden's thinking is we're already having everybody yelling 182 00:09:44,440 --> 00:09:47,320 Speaker 1: and screaming about inflation. We don't want to have a 183 00:09:47,400 --> 00:09:50,920 Speaker 1: preventable issue go by the wayside. So if they can 184 00:09:50,960 --> 00:09:53,079 Speaker 1: stop the strike, you can have it. But I think 185 00:09:53,120 --> 00:09:55,000 Speaker 1: there was good news and that f O m C 186 00:09:55,240 --> 00:09:59,960 Speaker 1: meeting saying that the pace of rate increases is likely 187 00:10:00,120 --> 00:10:02,959 Speaker 1: the slow so that was good news as well. Thanks 188 00:10:02,960 --> 00:10:06,000 Speaker 1: for setting up the next leg of this conversation. Aren't Wheaton, 189 00:10:06,080 --> 00:10:09,160 Speaker 1: Director of Labor Studies, Cornell University School of Industrial and 190 00:10:09,240 --> 00:10:11,319 Speaker 1: Labor Relations. We talked to him because he's been there, 191 00:10:11,320 --> 00:10:13,920 Speaker 1: a former labor negotiator, he knows what it's like to 192 00:10:13,960 --> 00:10:17,280 Speaker 1: be in that room. Very few lawmakers do. As we 193 00:10:17,320 --> 00:10:20,440 Speaker 1: see the headline on the terminal, Powell signals downshift likely 194 00:10:20,559 --> 00:10:23,280 Speaker 1: next month. Said a lot today, which is why we 195 00:10:23,320 --> 00:10:26,680 Speaker 1: want to go to school and have Michael McKee, Bloomberg 196 00:10:26,679 --> 00:10:31,840 Speaker 1: Economics editor help us out here as our translator. Professor. 197 00:10:31,880 --> 00:10:36,280 Speaker 1: Welcome back to sound lovely to be here. We're watching December. 198 00:10:36,400 --> 00:10:38,839 Speaker 1: The time for moderating the pace of rate increases may 199 00:10:38,880 --> 00:10:41,800 Speaker 1: come as soon as the December meeting does. Moderating means 200 00:10:41,840 --> 00:10:45,120 Speaker 1: smaller rate hikes or less frequent rate hikes. Moderating means 201 00:10:45,160 --> 00:10:49,240 Speaker 1: smaller rate hikes, and that is j Pile telling the markets. Yeah, 202 00:10:49,320 --> 00:10:52,880 Speaker 1: you've heard us right, but you can keep going, and 203 00:10:52,960 --> 00:10:56,440 Speaker 1: you can keep raising rates at this slower pace as 204 00:10:56,480 --> 00:10:58,720 Speaker 1: long as you need to. Now. Powell also spoke to 205 00:10:58,800 --> 00:11:03,240 Speaker 1: what sounds like real progress in at least some prices. Well, 206 00:11:03,360 --> 00:11:06,839 Speaker 1: twelve month core goods inflation remains elevated at four point six. 207 00:11:07,880 --> 00:11:11,040 Speaker 1: It has fallen nearly three percentage points from earlier this year. 208 00:11:11,360 --> 00:11:14,080 Speaker 1: So this is really good, right, this is really good. 209 00:11:14,280 --> 00:11:17,560 Speaker 1: People bought lots of stuff and stopped going out during 210 00:11:17,600 --> 00:11:20,320 Speaker 1: the pandemic, and so the cost of goods went up 211 00:11:20,320 --> 00:11:22,960 Speaker 1: because there weren't enough goods to satisfy everybody. To a 212 00:11:22,960 --> 00:11:25,559 Speaker 1: certain extent, it's the FED reducing demand, but to a 213 00:11:25,640 --> 00:11:28,760 Speaker 1: large extent, it's rebalancing the economy. He also spoke a 214 00:11:28,760 --> 00:11:31,120 Speaker 1: lot about the job market and why we still have 215 00:11:31,200 --> 00:11:34,079 Speaker 1: a lack of workers. Recent research by FED economists finds 216 00:11:34,080 --> 00:11:37,640 Speaker 1: that the participation gap is now mostly due to excess retirements. 217 00:11:37,720 --> 00:11:39,960 Speaker 1: I thought that was fascinating. So finding balance in the 218 00:11:40,040 --> 00:11:43,000 Speaker 1: job market is probably still a ways off. The trend 219 00:11:43,040 --> 00:11:45,760 Speaker 1: was in place that the baby boomers were retiring because 220 00:11:45,960 --> 00:11:48,760 Speaker 1: they're all hitting that sixty five year old age, but 221 00:11:48,960 --> 00:11:51,680 Speaker 1: it accelerated during the pandemic as people were out of 222 00:11:51,679 --> 00:11:54,800 Speaker 1: work and figured, well, I'll just collect my Social Security 223 00:11:55,160 --> 00:11:57,839 Speaker 1: and I'll retire now instead of maybe coming back. You're 224 00:11:57,880 --> 00:11:59,880 Speaker 1: not about to retire on us, are you. No, I 225 00:12:00,040 --> 00:12:02,839 Speaker 1: am not going to be one of those. Just making sure, 226 00:12:03,160 --> 00:12:05,480 Speaker 1: Professor McKee, thank you as ever for being with us. 227 00:12:07,679 --> 00:12:11,520 Speaker 1: You're listening to Bloomberg you sound on with Joe Matthew 228 00:12:11,880 --> 00:12:17,200 Speaker 1: on Bloomberg Radio. Some called it a trap on Twitter, 229 00:12:17,600 --> 00:12:21,800 Speaker 1: invoking Admiral Act bar as Speaker Pelosi announced plans to 230 00:12:21,840 --> 00:12:24,959 Speaker 1: bring a separate bill to the floor for seven days 231 00:12:25,000 --> 00:12:28,600 Speaker 1: paid leave. That's apart from the main bill that forces 232 00:12:28,720 --> 00:12:31,680 Speaker 1: rail workers, would force them to accept the labor agreement 233 00:12:31,720 --> 00:12:34,400 Speaker 1: that was put on the table back in September, pay 234 00:12:34,480 --> 00:12:38,600 Speaker 1: increase in all of one paid sick day. Let's assemble 235 00:12:38,600 --> 00:12:40,120 Speaker 1: the panel. We've got a lot to cover with Rick 236 00:12:40,200 --> 00:12:44,040 Speaker 1: Davis and Jeannie Chantin no Bloomberg Politics contributors. We were 237 00:12:44,080 --> 00:12:48,000 Speaker 1: talking about this, of course yesterday Rick with Senator John 238 00:12:48,040 --> 00:12:51,640 Speaker 1: Thune his input on this. Can you imagine a world 239 00:12:51,640 --> 00:12:53,920 Speaker 1: in which both of these bills passes the Senate or 240 00:12:54,000 --> 00:12:56,640 Speaker 1: does the first bill go? Nancy Pelosi takes credit for 241 00:12:56,679 --> 00:12:59,000 Speaker 1: trying on the paid sick leave. Well, I do think 242 00:12:59,040 --> 00:13:02,240 Speaker 1: we yesterday that there is a lot of interest in 243 00:13:02,360 --> 00:13:07,200 Speaker 1: making sure that rail employees have appropriate sickly and this 244 00:13:07,400 --> 00:13:09,640 Speaker 1: idea that they can't get any UH as a deal 245 00:13:09,679 --> 00:13:13,040 Speaker 1: breaker to a deal UM, I think really inflame both 246 00:13:13,040 --> 00:13:16,840 Speaker 1: Republicans and Democrats. It wouldn't surprise me that that this 247 00:13:16,920 --> 00:13:20,120 Speaker 1: seven day sickly build a separate bill that was passed 248 00:13:20,160 --> 00:13:24,640 Speaker 1: today UH couldn't get some support within the UH Senate 249 00:13:24,720 --> 00:13:28,280 Speaker 1: with both Republicans and Democrats enough to pass though. Well, 250 00:13:28,320 --> 00:13:30,520 Speaker 1: I you know you need those you need you need 251 00:13:30,559 --> 00:13:32,240 Speaker 1: fifty one on this one. I don't think you need 252 00:13:32,280 --> 00:13:37,079 Speaker 1: sixty and UH assuming get the build of the floor 253 00:13:37,320 --> 00:13:40,480 Speaker 1: and and I think that's possibility. I mean, it's it's 254 00:13:40,480 --> 00:13:43,320 Speaker 1: sort of a cautionary tale to corporations who you know, 255 00:13:43,400 --> 00:13:46,480 Speaker 1: stand stand hard on their ground when they are negotiating 256 00:13:46,520 --> 00:13:48,560 Speaker 1: with unions. And then you know, it's like, oh God, 257 00:13:48,640 --> 00:13:52,080 Speaker 1: let's let Congress solve this problem. Whoops. And I realized 258 00:13:52,120 --> 00:13:54,040 Speaker 1: a lot of this is unique, or at least some 259 00:13:54,080 --> 00:13:56,520 Speaker 1: of it. You need to uh the rail industry genie, 260 00:13:56,559 --> 00:13:59,160 Speaker 1: But is this the way to be conducting labor policy? 261 00:13:59,200 --> 00:14:01,640 Speaker 1: Now we're getting to pay race from Congress? You know, 262 00:14:01,880 --> 00:14:04,120 Speaker 1: it's not the way to be conducting policy. But you 263 00:14:04,160 --> 00:14:06,800 Speaker 1: know how amazing would that be if they came out 264 00:14:06,840 --> 00:14:09,680 Speaker 1: of this Labor did with much more than they got 265 00:14:09,720 --> 00:14:12,640 Speaker 1: going into it. You know, we shouldn't be making these 266 00:14:12,679 --> 00:14:16,200 Speaker 1: decisions in Congress, but what a win for labor if 267 00:14:16,280 --> 00:14:18,520 Speaker 1: they come out with this seven days. I don't know 268 00:14:18,600 --> 00:14:21,920 Speaker 1: that they will, but it would be quite a you know, 269 00:14:22,080 --> 00:14:24,320 Speaker 1: a success story for them if they did. Let's go 270 00:14:24,360 --> 00:14:26,440 Speaker 1: back to what we heard from Senator Elizabeth Warren. I 271 00:14:26,520 --> 00:14:28,640 Speaker 1: still like to see the parties come to an agreement. 272 00:14:28,640 --> 00:14:31,000 Speaker 1: They're very close. The only thing that stands in the 273 00:14:31,000 --> 00:14:35,120 Speaker 1: way is, I understand it now is about sickly and 274 00:14:35,520 --> 00:14:38,040 Speaker 1: I think we should keep urging the parties in that direction. 275 00:14:38,200 --> 00:14:40,560 Speaker 1: Is that pipe dream? Rick? At this point for lawmakers 276 00:14:40,560 --> 00:14:42,800 Speaker 1: to be suggesting they go back to the table, well, 277 00:14:42,840 --> 00:14:44,360 Speaker 1: I think they're just you know, sort of doing a 278 00:14:44,360 --> 00:14:47,640 Speaker 1: shout out for the union negotiators who have been stiffed. 279 00:14:47,920 --> 00:14:52,920 Speaker 1: So yeah, it would be nice if if if the 280 00:14:52,960 --> 00:14:55,480 Speaker 1: negotiators saw the writing on the wall and said, well, 281 00:14:55,560 --> 00:14:57,720 Speaker 1: let's split it and you know, give you a three 282 00:14:57,760 --> 00:15:00,720 Speaker 1: and a half sick days and call it a deal 283 00:15:00,760 --> 00:15:02,640 Speaker 1: and tell Congress to go home, right, I mean, all 284 00:15:02,640 --> 00:15:04,760 Speaker 1: of a sudden there may be some momentum behind that, 285 00:15:04,800 --> 00:15:08,200 Speaker 1: but as as we would be entirely within the realm 286 00:15:08,200 --> 00:15:10,440 Speaker 1: of possibility at this point. I mean, they see what's coming. 287 00:15:10,760 --> 00:15:13,720 Speaker 1: If if Rick Davis thinks this seven days passes the Senate, 288 00:15:13,720 --> 00:15:15,840 Speaker 1: why not go back to the table. Yeah, Well, the 289 00:15:15,920 --> 00:15:18,240 Speaker 1: problem is they've got to show progress in a like 290 00:15:18,360 --> 00:15:22,280 Speaker 1: immediate term, right, I mean, And unfortunately these negotiations have 291 00:15:22,480 --> 00:15:25,760 Speaker 1: you know, really long time tables to negotiate and get 292 00:15:26,040 --> 00:15:28,120 Speaker 1: members to agree, and you know, you don't know if 293 00:15:28,120 --> 00:15:31,960 Speaker 1: they're gonna agree like this last time. So I can't 294 00:15:31,960 --> 00:15:34,400 Speaker 1: imagine anybody's gonna get in a way this bulldoz are 295 00:15:34,400 --> 00:15:37,360 Speaker 1: going through Congress right now. I gotta tell you, Janie, 296 00:15:37,920 --> 00:15:40,200 Speaker 1: Marty Walsh just never calls me like he used to. 297 00:15:41,400 --> 00:15:43,800 Speaker 1: And I was a Boston boy. I where where is 298 00:15:43,840 --> 00:15:47,080 Speaker 1: the Labor Secretary? He hasn't been on TV. I haven't 299 00:15:47,120 --> 00:15:51,200 Speaker 1: seen any op eds. Shouldn't he be dispatched to some 300 00:15:51,520 --> 00:15:54,840 Speaker 1: bargaining table right now? Well, you know, I'm sure he's 301 00:15:54,840 --> 00:15:57,760 Speaker 1: got you on his speed dial. Joe's gonna right away. Um. 302 00:15:57,840 --> 00:15:59,680 Speaker 1: You know, I think they are doing though, I would 303 00:15:59,720 --> 00:16:02,600 Speaker 1: say a good job behind the scenes. Um, you know, 304 00:16:02,800 --> 00:16:05,400 Speaker 1: you haven't seen some of the big labor groups come 305 00:16:05,440 --> 00:16:08,040 Speaker 1: out and speak ill of the administration and the work 306 00:16:08,080 --> 00:16:11,240 Speaker 1: they've done. Um. You know, you do see some unions 307 00:16:11,280 --> 00:16:14,440 Speaker 1: frustrated that that this didn't get done, and then Biden's 308 00:16:14,480 --> 00:16:17,320 Speaker 1: going to Congress, But by and large, I think they 309 00:16:17,320 --> 00:16:20,200 Speaker 1: have been working behind the scenes pretty well. And I 310 00:16:20,240 --> 00:16:23,760 Speaker 1: think Nancy Pelosi taking up these two bills is critically 311 00:16:23,840 --> 00:16:28,000 Speaker 1: important because it is telling labor, you know, we understand 312 00:16:28,080 --> 00:16:30,640 Speaker 1: the frustration, and we we agree that you need these 313 00:16:30,720 --> 00:16:33,440 Speaker 1: days and you rightly should have them. But we also 314 00:16:33,480 --> 00:16:36,400 Speaker 1: can't destroy the US economy. We can't allow people to 315 00:16:36,480 --> 00:16:39,400 Speaker 1: be you know, right before Christmas, increase inflation, all of 316 00:16:39,400 --> 00:16:41,880 Speaker 1: those things. So it's tricky for Democrats. But I would 317 00:16:41,920 --> 00:16:45,080 Speaker 1: give the Biden administration pretty good marks on this so far. 318 00:16:45,400 --> 00:16:47,360 Speaker 1: Does it actually mean that he's busy that we're not 319 00:16:47,400 --> 00:16:51,680 Speaker 1: seeing the Labor Secretary or saying for Transportation Secretary Pete, 320 00:16:52,600 --> 00:16:55,080 Speaker 1: I haven't seen either one talking about this, uh, And 321 00:16:55,120 --> 00:16:57,600 Speaker 1: I think it is a failure by this administration that's 322 00:16:57,600 --> 00:16:59,880 Speaker 1: not deliberate. They stuck their heads into this and they 323 00:17:00,000 --> 00:17:02,240 Speaker 1: couldn't solve it. And and you know, I don't care 324 00:17:02,280 --> 00:17:05,080 Speaker 1: who you blame whether it's Budda or or Marty, but 325 00:17:05,240 --> 00:17:07,520 Speaker 1: like this is this is a flaw. The last thing 326 00:17:07,520 --> 00:17:10,199 Speaker 1: they want to do is give control to Congress, you know, 327 00:17:10,280 --> 00:17:14,199 Speaker 1: to make administration policy on this. And where's where's the 328 00:17:14,240 --> 00:17:17,760 Speaker 1: great you know, defender of unions. President Biden has been 329 00:17:17,760 --> 00:17:19,960 Speaker 1: talking about it every day since he was elected, and 330 00:17:20,040 --> 00:17:22,720 Speaker 1: he can't deliver on one of the most important, uh 331 00:17:22,840 --> 00:17:28,080 Speaker 1: you know, labor disputes in his administration. It's incredible. Uh as, 332 00:17:28,119 --> 00:17:31,399 Speaker 1: as we learn from producer Matt Labor Secretary Marty Walsh 333 00:17:31,480 --> 00:17:34,919 Speaker 1: and Transportation Secretary Pete Buddha Jedge will be meeting with 334 00:17:34,960 --> 00:17:40,960 Speaker 1: Senate Democrats at lunch Thursday to discuss the legislation. What's 335 00:17:40,960 --> 00:17:43,879 Speaker 1: the point now, Jeannie? Well, and then he's going to 336 00:17:43,960 --> 00:17:46,760 Speaker 1: come over and see you, Joe. I think that meet 337 00:17:46,800 --> 00:17:49,920 Speaker 1: you there. That's right, you know the point it's critically important. 338 00:17:49,920 --> 00:17:52,199 Speaker 1: I mean, they need to get this passed through. And 339 00:17:52,280 --> 00:17:54,600 Speaker 1: let's not forget we know that it was Buddha, Judge 340 00:17:54,600 --> 00:17:57,040 Speaker 1: Walsh and Bill Sack who went to the President and 341 00:17:57,080 --> 00:17:59,320 Speaker 1: said there is no path to resolve this. And let's 342 00:17:59,320 --> 00:18:02,160 Speaker 1: not forget this has been going on for two years. 343 00:18:02,440 --> 00:18:04,919 Speaker 1: It has been going on a long time. The unions 344 00:18:04,960 --> 00:18:07,320 Speaker 1: wanted a mandatory expansion of paid leave. They got a 345 00:18:07,320 --> 00:18:09,600 Speaker 1: bunch of things they wanted. They didn't get that. They 346 00:18:09,640 --> 00:18:12,560 Speaker 1: do deserve it, but they simply couldn't get it through. 347 00:18:12,600 --> 00:18:13,919 Speaker 1: And so they're going to go there and try to 348 00:18:13,960 --> 00:18:16,920 Speaker 1: convince Democrats that we need to get this through now. 349 00:18:16,960 --> 00:18:19,080 Speaker 1: Their risks are too great if we don't, and rightly 350 00:18:19,160 --> 00:18:20,960 Speaker 1: so they are doing what they have to do behind 351 00:18:21,000 --> 00:18:23,159 Speaker 1: the scenes. Is that a chance for the administration take 352 00:18:23,160 --> 00:18:25,280 Speaker 1: a little credit here? We swooped in at the last minute, 353 00:18:25,320 --> 00:18:27,879 Speaker 1: got the Senators to vote yes. Rick, Well, if this 354 00:18:27,960 --> 00:18:29,840 Speaker 1: gets through, they're going to take credit no matter whether 355 00:18:29,880 --> 00:18:33,159 Speaker 1: they've swooped or not. Okay, fine, we keep swooping with 356 00:18:33,200 --> 00:18:35,840 Speaker 1: our panel, all our of course. Gene Chantano and Rick 357 00:18:35,920 --> 00:18:38,560 Speaker 1: Davis with us as we turn our attention to the 358 00:18:38,600 --> 00:18:41,159 Speaker 1: new Democratic leader in the House. Coming up next is 359 00:18:41,200 --> 00:18:47,840 Speaker 1: former Communications Directors with us on Bloomberg introducing your new 360 00:18:47,920 --> 00:18:53,000 Speaker 1: Democratic leadership rolled out today in the House. Everyone's an 361 00:18:53,040 --> 00:18:57,600 Speaker 1: honor to stand before you today as the incoming House 362 00:18:57,640 --> 00:19:05,959 Speaker 1: Democratic Leader for the Congress that will convene on January three, 363 00:19:06,040 --> 00:19:09,960 Speaker 1: and to be joined by my two good friends amazing 364 00:19:10,280 --> 00:19:16,680 Speaker 1: colleagues and partners, the incoming House Democratic Whip Katherine Clark 365 00:19:16,960 --> 00:19:21,320 Speaker 1: and the incoming Caucus Chair Pete Aguilar. There it is 366 00:19:21,400 --> 00:19:25,800 Speaker 1: the new trio led by Congressman HACKEM. Jeffries of New York, 367 00:19:26,680 --> 00:19:29,360 Speaker 1: who went out of his way to thank Nancy Pelosi 368 00:19:30,480 --> 00:19:33,240 Speaker 1: and has been very clear about this in his ascension 369 00:19:33,440 --> 00:19:35,439 Speaker 1: to power, that he couldn't have done it without her. 370 00:19:35,440 --> 00:19:41,000 Speaker 1: And I could only think back to January of I'll 371 00:19:41,040 --> 00:19:44,320 Speaker 1: never forget being in the House Chamber as the young 372 00:19:44,359 --> 00:19:50,679 Speaker 1: congressman from New York introduced Nancy Pelosi, who would become 373 00:19:50,760 --> 00:19:54,800 Speaker 1: Speaker again. Let me be clear, House Democrats are down 374 00:19:55,080 --> 00:20:00,119 Speaker 1: with n d P. Nancy Delessandro Pelosi, the one and 375 00:20:00,280 --> 00:20:04,440 Speaker 1: future Speaker of the United States House the Representatives. I 376 00:20:04,640 --> 00:20:08,640 Speaker 1: proudly placed her name in nomination. May God bless her, 377 00:20:08,960 --> 00:20:12,800 Speaker 1: May God bless the United States of America Place one. 378 00:20:12,840 --> 00:20:15,600 Speaker 1: While it was the first day, all the lawmakers had 379 00:20:15,600 --> 00:20:19,840 Speaker 1: their kids with him, and I wonder, Michael Hardaway if 380 00:20:20,000 --> 00:20:22,680 Speaker 1: if you knew at that point he would become leader. 381 00:20:25,480 --> 00:20:27,840 Speaker 1: Here's the thing. I began working with the kam in 382 00:20:27,880 --> 00:20:33,359 Speaker 1: two thousand and fourteen, and within a year so by 383 00:20:33,840 --> 00:20:35,359 Speaker 1: I knew that he could be the next leader of 384 00:20:35,359 --> 00:20:37,920 Speaker 1: our party in the House of Representatives. And I'll tell 385 00:20:37,960 --> 00:20:41,639 Speaker 1: you why. We live in an era where messaging is 386 00:20:41,680 --> 00:20:45,040 Speaker 1: everything in politics. And I just witnessed my former boss 387 00:20:45,040 --> 00:20:48,960 Speaker 1: in Barack Obama, really ride his ability to message right 388 00:20:48,960 --> 00:20:52,240 Speaker 1: into the White House. And King Jeffreys has that very 389 00:20:52,320 --> 00:20:57,159 Speaker 1: same skill. He can truly speak the way that people 390 00:20:57,240 --> 00:21:01,000 Speaker 1: think and really make everyone feel involved and included, and 391 00:21:01,040 --> 00:21:04,439 Speaker 1: that has real power in politics in two and so 392 00:21:04,560 --> 00:21:08,000 Speaker 1: this is his moment and he's the person for this moment, 393 00:21:08,080 --> 00:21:11,040 Speaker 1: and I'm incredibly proud of him. Well, let's talk about 394 00:21:11,040 --> 00:21:14,040 Speaker 1: what this moment is because you know, we've we've seen 395 00:21:14,119 --> 00:21:17,880 Speaker 1: Nancy Pelosi holding the gavel for quite some time. Now, 396 00:21:17,920 --> 00:21:21,080 Speaker 1: Democrats will be back in the minority and that really 397 00:21:21,160 --> 00:21:25,080 Speaker 1: changes the contours. It really changes the mission of the party. Right. Uh, 398 00:21:25,160 --> 00:21:28,359 Speaker 1: what will Hakeem Jeffries bring to the table other than opposition? 399 00:21:28,400 --> 00:21:31,560 Speaker 1: And that is part of being in the minority party. Yeah, 400 00:21:31,600 --> 00:21:34,000 Speaker 1: that's a very good point. And what's interesting about this 401 00:21:34,080 --> 00:21:37,680 Speaker 1: particular moment is that he came will be the minority 402 00:21:37,760 --> 00:21:42,600 Speaker 1: leader who has an outsize amount of power because the 403 00:21:42,640 --> 00:21:45,840 Speaker 1: Republicans will have such a slim margin on every single 404 00:21:45,920 --> 00:21:49,520 Speaker 1: vote he came, will have significantly more power then previous 405 00:21:49,560 --> 00:21:52,800 Speaker 1: minority leaders have had. But I will say this, I 406 00:21:52,840 --> 00:21:56,040 Speaker 1: think with the King Jeffreys at the helm, everybody wins. 407 00:21:56,760 --> 00:21:58,960 Speaker 1: He's a die in the wild progressive who has spent 408 00:21:59,040 --> 00:22:03,119 Speaker 1: his entire career fighting for working people and fighting to 409 00:22:03,200 --> 00:22:05,119 Speaker 1: make sure that everyone has a seat at the table. 410 00:22:05,720 --> 00:22:09,760 Speaker 1: He also has worked in corporate America at one of 411 00:22:09,840 --> 00:22:13,160 Speaker 1: the most respected law firms in the world, and also 412 00:22:13,240 --> 00:22:16,399 Speaker 1: worked as an attorney for a global media company, and 413 00:22:16,440 --> 00:22:20,960 Speaker 1: so he understands the challenges that American businesses deal with 414 00:22:21,440 --> 00:22:23,800 Speaker 1: and what that looks like. And so you've got someone 415 00:22:23,840 --> 00:22:28,239 Speaker 1: who really understands across the board how all of this 416 00:22:28,320 --> 00:22:30,520 Speaker 1: works and can really move the ball forward I think 417 00:22:30,960 --> 00:22:33,160 Speaker 1: for the American public in a way that very few 418 00:22:33,160 --> 00:22:38,200 Speaker 1: people can. How does he work with Kevin McCarthy, assuming 419 00:22:38,240 --> 00:22:40,919 Speaker 1: Kevin McCarthy gets the votes and the gavel here, because 420 00:22:41,080 --> 00:22:43,879 Speaker 1: it's been widely reported that they are not fans of 421 00:22:44,040 --> 00:22:47,680 Speaker 1: each other, Well, it's interesting I would say to you that, 422 00:22:48,440 --> 00:22:50,080 Speaker 1: you know, we worked with Donald Trump of the First 423 00:22:50,119 --> 00:22:55,320 Speaker 1: Step Act, and so King Jefferies doesn't operate in terms 424 00:22:55,359 --> 00:22:58,280 Speaker 1: of only working with people that he personally likes. That's 425 00:22:58,280 --> 00:23:00,480 Speaker 1: not the way that he is. He's a big fan 426 00:23:00,760 --> 00:23:04,720 Speaker 1: of making progress in whatever way possible, whether it's incremental 427 00:23:04,880 --> 00:23:07,840 Speaker 1: or significant. Whoever is on the other side doesn't matter 428 00:23:07,880 --> 00:23:10,280 Speaker 1: as much as what the issue is that can be 429 00:23:10,400 --> 00:23:12,879 Speaker 1: changed can make life a lot more difficult to especially 430 00:23:12,960 --> 00:23:17,280 Speaker 1: if the new speaker is a real problem for Hakeim Jeffreys. 431 00:23:17,320 --> 00:23:21,640 Speaker 1: You know this, this takes two Yeah, No, you're absolutely right. 432 00:23:21,680 --> 00:23:23,600 Speaker 1: And by the way, to your point, it's not clear 433 00:23:23,640 --> 00:23:27,119 Speaker 1: whether McCarthy survives. All of my Republican friends in the 434 00:23:27,160 --> 00:23:30,080 Speaker 1: house tell me that they don't expect that, and so 435 00:23:30,119 --> 00:23:32,159 Speaker 1: we'll see what happens there. But I can tell you this, 436 00:23:33,240 --> 00:23:36,680 Speaker 1: King Jeffries has a pretty good relationship with Steve Scalise, 437 00:23:36,880 --> 00:23:40,040 Speaker 1: and so if Schleeze rises the speaker, I think that 438 00:23:40,119 --> 00:23:44,600 Speaker 1: dynamic changes significantly. Well, that boy that was the name 439 00:23:44,880 --> 00:23:47,640 Speaker 1: on all the tip sheets this morning, Michael Hardaway, uh 440 00:23:47,960 --> 00:23:50,800 Speaker 1: is that if this keeps going the way it's going, 441 00:23:51,160 --> 00:23:54,120 Speaker 1: and you know Representative Andy Biggs keeps speaking the way 442 00:23:54,119 --> 00:23:59,119 Speaker 1: he says, there are twenty firm knows Steve Scalise without 443 00:23:59,200 --> 00:24:03,560 Speaker 1: saying a peepe yeah, comes from behind and becomes the 444 00:24:03,560 --> 00:24:06,520 Speaker 1: new speaker is that where your money is, That's where 445 00:24:06,520 --> 00:24:11,479 Speaker 1: my money is. And I think that's probably overheading. Michael Hardaway, 446 00:24:11,520 --> 00:24:13,840 Speaker 1: great to have you back, founder of Hardaway Wire, which 447 00:24:13,880 --> 00:24:17,480 Speaker 1: provides political intelligence to CEOs and from time to time 448 00:24:18,080 --> 00:24:21,080 Speaker 1: our audience here on Bloomberg Sound On. Former communications director 449 00:24:21,160 --> 00:24:24,399 Speaker 1: for Yes HACKEM Jeffreys. A quick turn with the panel 450 00:24:24,400 --> 00:24:25,800 Speaker 1: here because I'd love to hear what you both think 451 00:24:25,840 --> 00:24:29,359 Speaker 1: about this. We did hear from Representative Andy Biggs today, 452 00:24:29,480 --> 00:24:32,160 Speaker 1: uh saying that we need to change at the top. 453 00:24:32,200 --> 00:24:37,560 Speaker 1: But the the Democratic leadership is fixed now, it appears, Genie, 454 00:24:37,560 --> 00:24:39,679 Speaker 1: that was unanimous today. And a pretty big deal from 455 00:24:39,880 --> 00:24:43,200 Speaker 1: from New York I suppose as well, Yeah, go Brooklyn, 456 00:24:43,240 --> 00:24:45,280 Speaker 1: a really big deal. We've got a New Yorker the 457 00:24:45,280 --> 00:24:47,840 Speaker 1: head of the Democrats in the House and the Senate. UM. 458 00:24:47,880 --> 00:24:50,240 Speaker 1: I don't know the last time we've had that. And 459 00:24:50,280 --> 00:24:54,280 Speaker 1: you know, Hakeem Jeffries is a superstar. He has risen 460 00:24:54,480 --> 00:24:57,720 Speaker 1: so fast. I mean, people forget how quickly. I mean. 461 00:24:57,760 --> 00:25:00,919 Speaker 1: He just came to Congress in the mid two thousand 462 00:25:00,960 --> 00:25:03,359 Speaker 1: what was it, two thousand fifteen or two thirteen, I 463 00:25:03,359 --> 00:25:06,159 Speaker 1: think it was, and his star has risen so fast, 464 00:25:06,400 --> 00:25:09,119 Speaker 1: and the fact that he got unanimous consent in his uh, 465 00:25:09,320 --> 00:25:12,680 Speaker 1: in his speaker vote, it's truly remarkable. But he's got 466 00:25:12,680 --> 00:25:15,120 Speaker 1: a big job ahead of him. That the Progressive Caucus 467 00:25:15,160 --> 00:25:17,639 Speaker 1: over a hundred members next term, and he's going to 468 00:25:17,760 --> 00:25:19,600 Speaker 1: have to keep control of that caucus, and there's some 469 00:25:19,640 --> 00:25:22,200 Speaker 1: tension with some of the members there. What Republicans think 470 00:25:22,200 --> 00:25:25,600 Speaker 1: of him? Rick backing off from the specifics with Kevin McCarthy, 471 00:25:25,600 --> 00:25:28,199 Speaker 1: How's he going to deal with this party? Uh, you know, 472 00:25:28,240 --> 00:25:31,000 Speaker 1: it's it's tough to say. I think that Republicans basically 473 00:25:31,119 --> 00:25:35,280 Speaker 1: see him as a continuation of sort of the Pelosi legacy, um, 474 00:25:35,280 --> 00:25:38,119 Speaker 1: you know, sort of just the next generations attempt to well, 475 00:25:38,160 --> 00:25:41,320 Speaker 1: that would be and it would be true and and 476 00:25:41,320 --> 00:25:44,520 Speaker 1: and so I think that the nature of the Beast 477 00:25:44,640 --> 00:25:46,800 Speaker 1: is that this is going to be a long time 478 00:25:46,880 --> 00:25:50,600 Speaker 1: to see how Hawkim Jeffreys becomes a power. And he's 479 00:25:50,600 --> 00:25:53,280 Speaker 1: got plenty of time to commit to it. So we'll 480 00:25:53,280 --> 00:25:56,640 Speaker 1: all be watching closely what his first few moves are. 481 00:25:56,800 --> 00:25:59,679 Speaker 1: Another fascinating day in the nation's Capital will continue with 482 00:25:59,760 --> 00:26:03,320 Speaker 1: Rick in Genie next as we focus on that leadership 483 00:26:03,359 --> 00:26:05,880 Speaker 1: battle on the Republican side of the House. This may 484 00:26:05,880 --> 00:26:09,040 Speaker 1: not end the way Kevin McCarthy thinks it will. We'll 485 00:26:09,040 --> 00:26:14,040 Speaker 1: go to Georgia for the latest. This is Bloomberg. You're 486 00:26:14,080 --> 00:26:18,160 Speaker 1: listening to Bloomberg. You sound on with Joe Matthew on 487 00:26:18,359 --> 00:26:23,760 Speaker 1: Bloomberg Radio. And the Palace entry continues on the Republican 488 00:26:23,840 --> 00:26:26,280 Speaker 1: side of the House, where Kevin McCarthy wants to be 489 00:26:26,359 --> 00:26:30,040 Speaker 1: Speaker and has just about one month to make it happen, 490 00:26:30,119 --> 00:26:34,359 Speaker 1: knowing that there are roughly twenty Republicans who will not 491 00:26:34,480 --> 00:26:38,800 Speaker 1: vote for him to hold the gabble. That number, by 492 00:26:38,800 --> 00:26:42,080 Speaker 1: the way, reinforced today by Congressman Andy Biggs, who himself 493 00:26:42,200 --> 00:26:44,320 Speaker 1: was running for speaker. I think he's still in the race. 494 00:26:44,359 --> 00:26:47,040 Speaker 1: He got gosh thirty votes or something. When the caucus 495 00:26:47,119 --> 00:26:49,720 Speaker 1: went to vote. He was asked in the corridors of 496 00:26:49,760 --> 00:26:52,800 Speaker 1: the House today, what the problem is here? We look 497 00:26:52,800 --> 00:26:55,240 Speaker 1: at it and you say, how does an establishment become 498 00:26:55,280 --> 00:26:59,360 Speaker 1: an establishment? And if we continue to let the same leadership, 499 00:26:59,359 --> 00:27:01,000 Speaker 1: we're gonna keep doing in the same things that we're doing, 500 00:27:01,040 --> 00:27:03,359 Speaker 1: We're gonna make a change. And I think that people 501 00:27:03,640 --> 00:27:07,280 Speaker 1: fundamentally would like to see this market change. So Steve 502 00:27:07,320 --> 00:27:11,640 Speaker 1: Scalise stand by. We do wonder what's going to happen here. 503 00:27:11,840 --> 00:27:14,399 Speaker 1: Rick Davis and Jeanie Schanzano have been watching this, of 504 00:27:14,440 --> 00:27:17,720 Speaker 1: course all along. Our signature panel is back here for 505 00:27:17,840 --> 00:27:21,840 Speaker 1: one more turn this hour, uh, Genie. Steve Scalise's name 506 00:27:22,040 --> 00:27:24,840 Speaker 1: in the very beginning was popping everywhere, right, this is 507 00:27:24,840 --> 00:27:27,520 Speaker 1: the idea, And then it got real quiet. He's been 508 00:27:27,520 --> 00:27:32,160 Speaker 1: playing super cool. Does this end with a speaker Scalise? 509 00:27:32,920 --> 00:27:35,199 Speaker 1: You know, I don't know in the immediate offing if 510 00:27:35,240 --> 00:27:37,760 Speaker 1: it ends with a speaker Scalise, but in the long term, 511 00:27:38,520 --> 00:27:41,040 Speaker 1: very well, may I mean, it seems like it's a 512 00:27:41,119 --> 00:27:44,400 Speaker 1: time where you'd rather be second, you know, in waiting 513 00:27:44,640 --> 00:27:47,199 Speaker 1: versus the one on the chopping block. And we know 514 00:27:47,359 --> 00:27:50,080 Speaker 1: from from McCarthy's tone when he came just out of 515 00:27:50,119 --> 00:27:53,200 Speaker 1: the White House yesterday. He was so combative, and it's 516 00:27:53,200 --> 00:27:55,840 Speaker 1: a clear sign he does not have the votes at 517 00:27:55,880 --> 00:27:58,240 Speaker 1: this point, and he may squeak them out with these deals, 518 00:27:58,480 --> 00:28:01,080 Speaker 1: but wait until he gets into the position he's going 519 00:28:01,160 --> 00:28:03,000 Speaker 1: to have to deal with these people he made the 520 00:28:03,000 --> 00:28:05,760 Speaker 1: deals with, and very well could result the same way 521 00:28:05,800 --> 00:28:09,800 Speaker 1: the previous Republican speakers have in Baynor and Ryan and 522 00:28:10,200 --> 00:28:12,399 Speaker 1: then Steve Scalise would be well positioned to pick up 523 00:28:12,440 --> 00:28:15,040 Speaker 1: the slack. Are you still considering this as an option Rick, 524 00:28:16,119 --> 00:28:19,480 Speaker 1: the Scalise option? Um, But I think we've got to 525 00:28:19,520 --> 00:28:22,440 Speaker 1: give sort of first pass to um, you know, to 526 00:28:22,600 --> 00:28:25,320 Speaker 1: Kevin McCarthy. I mean, he is cutting deals. And believe me, 527 00:28:25,359 --> 00:28:28,520 Speaker 1: if if this all turns out and Steven Scalisee become speaker, 528 00:28:28,800 --> 00:28:32,119 Speaker 1: it's because he's cut all those deals too. It's not 529 00:28:32,160 --> 00:28:34,399 Speaker 1: like you get a free pass if you're second in line. 530 00:28:34,560 --> 00:28:36,959 Speaker 1: And and so I think that that we have to 531 00:28:37,000 --> 00:28:39,920 Speaker 1: really understand that that that McCarthy is not going to 532 00:28:40,000 --> 00:28:43,959 Speaker 1: be outbid by Stephen Scalise, but he may get out 533 00:28:44,400 --> 00:28:47,320 Speaker 1: maneuvered by, you know, some of the right wing side 534 00:28:47,320 --> 00:28:49,680 Speaker 1: of his equation. I mean, when does he head down 535 00:28:49,680 --> 00:28:51,960 Speaker 1: to marrow Lago and get Donald Trump to start making 536 00:28:52,000 --> 00:28:54,600 Speaker 1: calls for him? He certainly that's a great question to 537 00:28:54,680 --> 00:28:57,680 Speaker 1: base himself after January six by going down Aaron begging 538 00:28:57,720 --> 00:28:59,800 Speaker 1: for the gym at the point that was at the 539 00:28:59,800 --> 00:29:05,440 Speaker 1: point that chip. So that's next than Jennie, like next weekend, 540 00:29:05,520 --> 00:29:08,560 Speaker 1: maybe a little closer to Christmas. You see him photographed 541 00:29:08,560 --> 00:29:10,400 Speaker 1: at marl Lago, but they're both there with the thumbs 542 00:29:10,440 --> 00:29:12,560 Speaker 1: up in front of the Christmas tree, and you know, 543 00:29:13,280 --> 00:29:16,000 Speaker 1: we very well might. But at this point, I don't 544 00:29:16,000 --> 00:29:18,280 Speaker 1: know that that Donald Trump is in sort of a 545 00:29:18,320 --> 00:29:22,240 Speaker 1: you know, holiday mood to give passes to Kevin McCarthy, 546 00:29:22,360 --> 00:29:25,880 Speaker 1: especially since Kevin McCarthy was out there criticizing his dinner 547 00:29:26,000 --> 00:29:28,560 Speaker 1: with the anti Semite so you know, he and he 548 00:29:28,920 --> 00:29:31,360 Speaker 1: did a mild criticism, but I don't know that Donald 549 00:29:31,400 --> 00:29:34,560 Speaker 1: Trump is going to give him that pass at this point. Well, 550 00:29:34,600 --> 00:29:36,880 Speaker 1: we shall see. It's something that we we have a 551 00:29:36,880 --> 00:29:39,040 Speaker 1: little bit of time to figure out here. And you 552 00:29:39,080 --> 00:29:41,400 Speaker 1: do wonder, to your point, Jennie, what Kevin McCarthy was 553 00:29:41,440 --> 00:29:42,960 Speaker 1: thinking when he was in the driveway at the White 554 00:29:43,000 --> 00:29:45,120 Speaker 1: House yesterday. I want to ask you both about the 555 00:29:45,200 --> 00:29:48,400 Speaker 1: latest turn in the Georgia's and it run off. This 556 00:29:48,440 --> 00:29:53,040 Speaker 1: time it has to do uh with the homestead and 557 00:29:53,080 --> 00:29:56,719 Speaker 1: by that I mean the homestead exemption. State investigators are 558 00:29:56,760 --> 00:30:00,240 Speaker 1: being urged to to look into whether Herschel Walker the 559 00:30:00,360 --> 00:30:03,920 Speaker 1: law by receiving a tax break on his home in Texas. 560 00:30:04,000 --> 00:30:06,000 Speaker 1: Did you know he lives in Texas? Apparently this everyone 561 00:30:06,080 --> 00:30:10,200 Speaker 1: knew this never left uh, for this is a tax 562 00:30:10,240 --> 00:30:13,560 Speaker 1: break for primary residence of the state as he's running 563 00:30:13,680 --> 00:30:18,080 Speaker 1: for federal office in Georgia. CNN then cranks out some 564 00:30:18,400 --> 00:30:26,200 Speaker 1: piece of tape of him saying that he lives in Texas. 565 00:30:26,280 --> 00:30:28,720 Speaker 1: Terrible quality. I'm sitting at my home in Texas, he says. 566 00:30:28,760 --> 00:30:32,840 Speaker 1: You know, Raphael Warnock, the Democrat here, the incumbent isn't 567 00:30:32,840 --> 00:30:38,840 Speaker 1: missing a ball, the great running back, and we're getting 568 00:30:38,880 --> 00:30:44,240 Speaker 1: ready to send him running back. Uh does this stuff matter? Rick? 569 00:30:44,360 --> 00:30:46,240 Speaker 1: They obviously made a big deal out of it in 570 00:30:46,240 --> 00:30:49,480 Speaker 1: the Pennsylvania Senate race dr Oz living in New Jersey. 571 00:30:49,600 --> 00:30:52,840 Speaker 1: They had Stevie van Zant snooky out there. Devoters care 572 00:30:52,880 --> 00:30:55,760 Speaker 1: about this. Yeah, I think the distinction there is Oz 573 00:30:55,840 --> 00:31:00,760 Speaker 1: didn't have any real footprint in Pennsylvania before those attacks. Uh, 574 00:31:00,880 --> 00:31:03,600 Speaker 1: it's gonna be very hard to convince anybody in Georgia 575 00:31:03,840 --> 00:31:06,960 Speaker 1: that Herschel Walker isn't the jewel of Georgia. I mean, 576 00:31:07,320 --> 00:31:11,440 Speaker 1: he is probably the most successful athlete in the history 577 00:31:11,520 --> 00:31:15,280 Speaker 1: of Georgia, and and so Georgia wants to claim him 578 00:31:15,320 --> 00:31:18,680 Speaker 1: as a favorite son. It's not that he necessarily wants to. 579 00:31:18,840 --> 00:31:22,400 Speaker 1: But the reality is whether he was in Texas thinking 580 00:31:22,440 --> 00:31:25,160 Speaker 1: about running, or whether or regardless of he could have 581 00:31:25,160 --> 00:31:29,720 Speaker 1: been in Alaska. He's still seeing in Georgia as a Georgian. Well, 582 00:31:29,760 --> 00:31:31,880 Speaker 1: you know, he continued to claim that this home in 583 00:31:31,960 --> 00:31:38,320 Speaker 1: Tarrant County was his primary residence, potentially breaking both Texas 584 00:31:38,400 --> 00:31:41,400 Speaker 1: laws and some Georgia rules. I read an Axios genie 585 00:31:41,600 --> 00:31:44,880 Speaker 1: on establishing residency for the purpose of voting or running 586 00:31:44,880 --> 00:31:48,440 Speaker 1: for office, So you you actually upset both states at once, 587 00:31:49,000 --> 00:31:53,000 Speaker 1: that's right. And he also apparently did some zoom campaign 588 00:31:53,040 --> 00:31:56,440 Speaker 1: events from his primary residence, as he called it, in Texas. 589 00:31:56,640 --> 00:31:59,720 Speaker 1: He also did a bunch of Fox interviews from there too, exactly. 590 00:31:59,800 --> 00:32:02,040 Speaker 1: And and you know, it shouldn't be a huge surprise. 591 00:32:02,120 --> 00:32:04,800 Speaker 1: I'm not a huge football fan, but he did play 592 00:32:04,880 --> 00:32:07,600 Speaker 1: right for the Dallas Cowboys. Does anyone care, though, I mean, 593 00:32:07,600 --> 00:32:09,520 Speaker 1: this is the stuff that we get, you know, lathered 594 00:32:09,560 --> 00:32:12,080 Speaker 1: up about in the media. Does anyone care? I don't 595 00:32:12,120 --> 00:32:14,040 Speaker 1: know that it's going to change a lot of votes, 596 00:32:14,160 --> 00:32:16,240 Speaker 1: but I will say this, I think it's a sign 597 00:32:16,320 --> 00:32:20,400 Speaker 1: of a really, really messy campaign that they didn't sort 598 00:32:20,440 --> 00:32:23,080 Speaker 1: this out at the beginning and handle it. And you know, 599 00:32:23,200 --> 00:32:26,320 Speaker 1: he's running for Senate in Georgia, and they're allowing this 600 00:32:26,400 --> 00:32:28,200 Speaker 1: to come up because he says it over and over 601 00:32:28,240 --> 00:32:30,720 Speaker 1: and puts it on his tax tax records. I mean, 602 00:32:30,920 --> 00:32:33,080 Speaker 1: that's just something that should have been addressed early on 603 00:32:33,200 --> 00:32:35,800 Speaker 1: by his campaign if he had been properly vetted and 604 00:32:35,880 --> 00:32:38,520 Speaker 1: not cand picked by Donald Trump, and then nobody would care. 605 00:32:38,600 --> 00:32:43,120 Speaker 1: I'm sure. Uh. The latest on Twitter, where much of 606 00:32:43,160 --> 00:32:46,760 Speaker 1: this is unfolding, hits home at the White House today, 607 00:32:46,840 --> 00:32:52,160 Speaker 1: as Treasury Secretary Janet Yellen says Elon Musk's purchase of 608 00:32:52,200 --> 00:32:57,000 Speaker 1: Twitter would warrant a government review if it was enough 609 00:32:57,040 --> 00:32:59,440 Speaker 1: to raise national security concerns based on some of the 610 00:32:59,480 --> 00:33:03,120 Speaker 1: money he had helping him back this purchase. Right. Uh, 611 00:33:03,240 --> 00:33:07,080 Speaker 1: she's walking back comments that that had played down the 612 00:33:07,120 --> 00:33:09,000 Speaker 1: need for security and talked about it at this New 613 00:33:09,080 --> 00:33:11,800 Speaker 1: York Times events today. Remember she she had told CBS 614 00:33:11,920 --> 00:33:15,920 Speaker 1: News that she didn't see any need to be investigating Twitter. 615 00:33:16,040 --> 00:33:21,040 Speaker 1: This is what she said today if at was looking 616 00:33:21,080 --> 00:33:26,760 Speaker 1: at the content, But the most broadcast UM broadcast stations 617 00:33:26,960 --> 00:33:33,040 Speaker 1: are subject to standards in terms of UM what they 618 00:33:33,080 --> 00:33:36,920 Speaker 1: broadcast at the public, and Twitter's not really that different. 619 00:33:37,120 --> 00:33:40,080 Speaker 1: Twitter is not that different from broadcasters which have standards. 620 00:33:40,120 --> 00:33:42,440 Speaker 1: So here we go. She said, as well, I'm not 621 00:33:42,440 --> 00:33:44,280 Speaker 1: going to say what it is we're looking at because 622 00:33:44,280 --> 00:33:46,520 Speaker 1: we don't comment on what's in progress. So something is 623 00:33:46,560 --> 00:33:48,840 Speaker 1: moving here, and it did come up in the White 624 00:33:48,840 --> 00:33:52,239 Speaker 1: House briefing today. The Fox reporter there, Peter Doocey, had 625 00:33:52,240 --> 00:33:54,560 Speaker 1: a little back and forth with Karine Sean Pierre when 626 00:33:54,720 --> 00:33:56,640 Speaker 1: you say that you're going to be monitoring some of 627 00:33:56,640 --> 00:33:58,600 Speaker 1: the speech on there if you see something that you 628 00:33:58,680 --> 00:34:02,600 Speaker 1: don't like, which you try to shut Twitter down. So look, 629 00:34:03,000 --> 00:34:05,440 Speaker 1: you know when you when you talk about monitoring, you 630 00:34:05,480 --> 00:34:08,440 Speaker 1: know it is. I hate to break it to you, Peter, 631 00:34:08,760 --> 00:34:12,680 Speaker 1: Just like everybody else, we very much monitor the news. 632 00:34:12,880 --> 00:34:15,520 Speaker 1: We pay close attention to everything that you all are 633 00:34:15,560 --> 00:34:19,279 Speaker 1: reporting and and twitters in the news a lot, and 634 00:34:19,360 --> 00:34:22,080 Speaker 1: so that's what we're paying attention to. So nobody really 635 00:34:22,160 --> 00:34:24,759 Speaker 1: understands what's going on here. I'm assuming they're monitoring truth 636 00:34:24,800 --> 00:34:27,200 Speaker 1: along with you as well, Jeannie. But what is the 637 00:34:27,200 --> 00:34:30,560 Speaker 1: White House talking about here when it comes to Twitter? 638 00:34:30,680 --> 00:34:33,280 Speaker 1: What's Janet Yellen talking about in a New York Times 639 00:34:33,280 --> 00:34:36,920 Speaker 1: event like this just sort of suggesting that there might 640 00:34:36,920 --> 00:34:39,960 Speaker 1: be a federal investigation underway, Yeah, there might. First of all, 641 00:34:40,040 --> 00:34:43,400 Speaker 1: nobody monitors truth the way I do, Jennety, that no, 642 00:34:43,880 --> 00:34:46,440 Speaker 1: you know, I thought it was a little loose of 643 00:34:46,520 --> 00:34:50,440 Speaker 1: Janet to be making this these comments. But the reality 644 00:34:50,600 --> 00:34:53,160 Speaker 1: is is we are seeing, just for instance, out of 645 00:34:53,160 --> 00:34:56,080 Speaker 1: the EU, the warning to Elon Musk of a possible 646 00:34:56,120 --> 00:34:58,400 Speaker 1: Twitter band under these new rules. I don't think this 647 00:34:58,480 --> 00:35:01,400 Speaker 1: can be a surprise for anyone. We see the governor 648 00:35:01,560 --> 00:35:06,200 Speaker 1: of South Dakota, Christine Gnome, banning employees at the state 649 00:35:06,280 --> 00:35:09,720 Speaker 1: level from using TikTok, So you know, you know whatever 650 00:35:09,760 --> 00:35:12,239 Speaker 1: Peter Doocey is saying, and I think he's right to 651 00:35:12,239 --> 00:35:15,200 Speaker 1: ask the question. The reality is is that there is 652 00:35:15,239 --> 00:35:18,040 Speaker 1: going to be increasing talk in d C and other 653 00:35:18,760 --> 00:35:22,200 Speaker 1: places around the world in terms of addressing these social 654 00:35:22,239 --> 00:35:24,759 Speaker 1: media companies, and Twitter is no exception to that. I'm 655 00:35:24,800 --> 00:35:27,520 Speaker 1: sure I'll take a shot for this Rick, but it's 656 00:35:27,520 --> 00:35:30,600 Speaker 1: a private company. I can't. I mean, how about the 657 00:35:30,640 --> 00:35:32,560 Speaker 1: White House and everyone else who doesn't want to be there? 658 00:35:32,600 --> 00:35:35,720 Speaker 1: Cancel their account? Wouldn't that fix it? That was certainly 659 00:35:35,880 --> 00:35:39,000 Speaker 1: sent a message, But I think Yellen is walked back 660 00:35:39,040 --> 00:35:41,080 Speaker 1: this whole thing and saying, oh, there's no reason to 661 00:35:41,160 --> 00:35:45,080 Speaker 1: investigate them. So I'm as confused as anybody else's as 662 00:35:45,080 --> 00:35:48,399 Speaker 1: to what the positionist administration has taken on Twitter. Now 663 00:35:48,480 --> 00:35:52,120 Speaker 1: we know they already don't like Ellen, and so not 664 00:35:52,280 --> 00:35:55,960 Speaker 1: having Elon at events in the White House celebrating e 665 00:35:56,080 --> 00:36:00,480 Speaker 1: V technology and and and accessibility. Uh was was was 666 00:36:00,560 --> 00:36:02,839 Speaker 1: the first year the second year going to be going 667 00:36:02,880 --> 00:36:05,160 Speaker 1: after him on Twitter? I don't know. I mean, honestly, 668 00:36:05,200 --> 00:36:07,840 Speaker 1: I think Ellen is doing a good enough job hurting himself. 669 00:36:08,200 --> 00:36:10,920 Speaker 1: Nobody needs to jump in on that pit. Yeah. He 670 00:36:11,000 --> 00:36:14,239 Speaker 1: jumped into the Fed debate today as well, Genie telling 671 00:36:14,360 --> 00:36:17,000 Speaker 1: j Pal to quit with the rate hikes. Uh that 672 00:36:17,080 --> 00:36:19,759 Speaker 1: was a tweet at four o'clock in the morning which 673 00:36:19,800 --> 00:36:21,480 Speaker 1: reminded a lot of us of another guy with a 674 00:36:21,480 --> 00:36:23,280 Speaker 1: lot of money he used to tweet at four o'clock 675 00:36:23,280 --> 00:36:25,360 Speaker 1: in the morning. Yeah, that's right, And who could be 676 00:36:25,480 --> 00:36:29,520 Speaker 1: back maybe after December seventh or eight. Elon Musk would 677 00:36:29,520 --> 00:36:31,719 Speaker 1: love that. So he's probably like making him jealous that 678 00:36:31,760 --> 00:36:33,560 Speaker 1: he's tweeting in the middle of the night in these 679 00:36:33,800 --> 00:36:36,960 Speaker 1: sort of loose I mean, you think Trump waits past 680 00:36:37,120 --> 00:36:40,320 Speaker 1: the runoff? Is that? Is that why the seventh? Well, 681 00:36:40,360 --> 00:36:42,600 Speaker 1: you know, I think that, And I think there's also 682 00:36:42,680 --> 00:36:45,120 Speaker 1: some meetings going on about truth. You know, I'm deeply 683 00:36:45,160 --> 00:36:48,080 Speaker 1: involved in truth. Joe Okay, you know, I think there's 684 00:36:48,160 --> 00:36:50,400 Speaker 1: some deep talk about the deal, this back deal. I 685 00:36:50,440 --> 00:36:53,080 Speaker 1: think after that we may see him back, particularly if 686 00:36:53,120 --> 00:36:56,360 Speaker 1: his campaign continues to implode. So the day Jennie disappears 687 00:36:56,360 --> 00:36:58,400 Speaker 1: from this broadcast, you'll know she was in on this 688 00:36:58,560 --> 00:37:01,680 Speaker 1: back deal. Nie Chanzano and Rick Davis. Thanks to you, 689 00:37:01,800 --> 00:37:04,000 Speaker 1: both the best panel in the business and always great 690 00:37:04,040 --> 00:37:06,719 Speaker 1: to spend time with you here on Bloomberg Radio. I'll 691 00:37:06,719 --> 00:37:09,040 Speaker 1: meet you back here tomorrow on the fastest hour in politics. 692 00:37:09,040 --> 00:37:10,920 Speaker 1: I'm Joe Matthew. This is Bloomberg