1 00:00:01,480 --> 00:00:06,240 Speaker 1: Now from our nation's capital. This is Bloomberg Sound on 2 00:00:07,520 --> 00:00:10,320 Speaker 1: Democracy is at stake, and we have to have alliances 3 00:00:10,320 --> 00:00:13,720 Speaker 1: of people that strongly disagree on everything. But that fact, 4 00:00:13,800 --> 00:00:15,720 Speaker 1: the platition is not going to be a problem. Placion 5 00:00:15,760 --> 00:00:20,400 Speaker 1: will moderate Bloomberg Sound on politics, policy and perspective from 6 00:00:20,480 --> 00:00:24,880 Speaker 1: DC's top name, Kid. Would be insanity if the Democrats 7 00:00:24,920 --> 00:00:28,080 Speaker 1: don't do something on build back better. Pennsylvania, one of 8 00:00:28,120 --> 00:00:30,920 Speaker 1: the closest states in the election, will be critical for 9 00:00:31,000 --> 00:00:36,280 Speaker 1: deciding which party controls the Senate. After Bloomberg Sound On 10 00:00:36,479 --> 00:00:43,040 Speaker 1: with Joe Matthew on Bloomberg Radio, the US military he's 11 00:00:43,120 --> 00:00:46,479 Speaker 1: on the move tonight mobilizing troops and equipment to stand 12 00:00:46,479 --> 00:00:50,440 Speaker 1: ground in Eastern Europe. Welcome to the fastest hour in politics, 13 00:00:50,479 --> 00:00:53,120 Speaker 1: with no let up intentions between Russia and the West. 14 00:00:53,159 --> 00:00:56,040 Speaker 1: We talk about the standoff and the strategy with a 15 00:00:56,080 --> 00:00:59,800 Speaker 1: true expert, retired four star General Philip Reedlove, former Supreme 16 00:01:00,080 --> 00:01:04,120 Speaker 1: Lied Commander Europe, and a former F sixteen fighter pilot 17 00:01:04,200 --> 00:01:06,960 Speaker 1: man who was in the chair when Vladimir Putin invaded Crimea. 18 00:01:07,360 --> 00:01:10,120 Speaker 1: He'll be with us in just a moment later. President 19 00:01:10,120 --> 00:01:12,680 Speaker 1: Biden's three nominees to the Federal Reserve prepared to sit 20 00:01:12,720 --> 00:01:16,880 Speaker 1: for confirmation hearings and hearing strong pushback from Republicans. Will 21 00:01:16,880 --> 00:01:20,120 Speaker 1: talk about what's motivating the criticism ahead of tomorrow's hearings 22 00:01:20,120 --> 00:01:23,840 Speaker 1: with Bloomberg's Michael McKee the panel today Bloombergy Politics contributors 23 00:01:24,160 --> 00:01:27,280 Speaker 1: Genie Chanzano and Rick Davis along with us for the hour. 24 00:01:27,800 --> 00:01:30,200 Speaker 1: They're going to soon be gassing up to C seventeens 25 00:01:30,760 --> 00:01:33,280 Speaker 1: and the troop carriers as the US gives the green 26 00:01:33,360 --> 00:01:36,760 Speaker 1: light to move more troops to the continent from the 27 00:01:36,880 --> 00:01:40,720 Speaker 1: US also to push soldiers who are already there further 28 00:01:40,800 --> 00:01:44,480 Speaker 1: into Eastern Europe. Pentagon Press Secretary John Kirby brief reporters 29 00:01:44,520 --> 00:01:50,280 Speaker 1: today the United States will soon move additional forces to Romania, Poland, 30 00:01:50,720 --> 00:01:53,440 Speaker 1: and Germany. I want to be very clear about something. 31 00:01:54,080 --> 00:01:58,240 Speaker 1: These are not permanent moves. They are moved designed to 32 00:01:58,280 --> 00:02:02,560 Speaker 1: respond to the current security and moreover, these forces are 33 00:02:02,600 --> 00:02:06,279 Speaker 1: not going to fight in Ukraine. They're going to ensure 34 00:02:06,320 --> 00:02:10,000 Speaker 1: the robust defense of our NATO allies. That's from a 35 00:02:10,000 --> 00:02:12,840 Speaker 1: briefing a little while ago at the Pentagon. Now inside 36 00:02:12,840 --> 00:02:14,760 Speaker 1: this plan, you can read about it on the terminal. 37 00:02:14,800 --> 00:02:17,519 Speaker 1: About two thousand soldiers will travel from the US to 38 00:02:17,600 --> 00:02:20,720 Speaker 1: Europe in the next couple of days, and a thousand 39 00:02:20,919 --> 00:02:24,000 Speaker 1: already based in Germany will then be deployed to Romania. 40 00:02:24,080 --> 00:02:25,760 Speaker 1: Kirby says, by the way, there could be more where 41 00:02:25,800 --> 00:02:29,399 Speaker 1: these moves came from. Russia criticized the moves not a surprise. 42 00:02:30,040 --> 00:02:32,799 Speaker 1: President Biden says it's totally consistent with what he told 43 00:02:32,840 --> 00:02:37,200 Speaker 1: Putin from the beginning, referring to our commitment to defend NATO, 44 00:02:37,280 --> 00:02:39,279 Speaker 1: of course, and that is where we start our conversation 45 00:02:39,840 --> 00:02:42,679 Speaker 1: with the man who led NATO's European operations. Retired for 46 00:02:42,840 --> 00:02:46,480 Speaker 1: Star Air Force General Philip Breedlove, former Commander US European 47 00:02:46,560 --> 00:02:49,800 Speaker 1: Command and former Supreme Allied Commander Europe. He's also a 48 00:02:49,840 --> 00:02:53,079 Speaker 1: former ace F sixteen fighter pilot. General. Welcome. You were 49 00:02:53,080 --> 00:02:57,240 Speaker 1: there when Vladimir Putin invaded Crimea in Based on what 50 00:02:57,280 --> 00:03:00,400 Speaker 1: you learned from that experience and what you've watched since, 51 00:03:00,960 --> 00:03:04,680 Speaker 1: what do you see as the endgame here? Well, thanks 52 00:03:04,720 --> 00:03:07,960 Speaker 1: for having me on your show. Um. The end game is, uh, 53 00:03:08,200 --> 00:03:11,440 Speaker 1: if we tolerate bad behavior or if we allow it 54 00:03:11,520 --> 00:03:14,400 Speaker 1: to stand, we'll probably see more of it. So I 55 00:03:14,440 --> 00:03:17,679 Speaker 1: think now is the time to try to break this 56 00:03:17,760 --> 00:03:20,240 Speaker 1: model that we first saw in Georgia and oh eight, 57 00:03:20,360 --> 00:03:23,840 Speaker 1: then we saw in the winter of thirteen and fourteen, 58 00:03:23,840 --> 00:03:26,359 Speaker 1: in the spring of fourteen, and now here we are again. 59 00:03:26,440 --> 00:03:28,880 Speaker 1: We don't want to be here again in three or 60 00:03:28,919 --> 00:03:31,960 Speaker 1: four more years when there's more demands. What's your take 61 00:03:32,000 --> 00:03:34,280 Speaker 1: on the deployments we just talked about the repositioning as 62 00:03:34,320 --> 00:03:37,080 Speaker 1: well as troops in Eastern Europe. Is this about projecting 63 00:03:37,120 --> 00:03:40,400 Speaker 1: power or does it have strategic significance along the lines 64 00:03:40,440 --> 00:03:44,400 Speaker 1: of what you're describing. So, uh, first of all, I 65 00:03:44,440 --> 00:03:47,840 Speaker 1: think it's a good move. For some time now, as 66 00:03:47,920 --> 00:03:51,680 Speaker 1: we've been approaching this current crisis, we've been in a 67 00:03:51,760 --> 00:03:55,000 Speaker 1: period of what I would call passive deterrence, where we say, 68 00:03:55,120 --> 00:03:58,000 Speaker 1: if he invades, then we'll do this. If he invades, 69 00:03:58,120 --> 00:04:00,960 Speaker 1: then we'll do that. And so we are now I 70 00:04:01,000 --> 00:04:04,880 Speaker 1: think moving into a more active deterrent sphase where we 71 00:04:04,920 --> 00:04:08,120 Speaker 1: are beginning to take actions like he does. Because Mr 72 00:04:08,160 --> 00:04:12,600 Speaker 1: Putin is every day adding to his capability on the border. 73 00:04:13,320 --> 00:04:16,040 Speaker 1: You're commander of the third Air Force, help us understand 74 00:04:16,080 --> 00:04:18,080 Speaker 1: what assets we have at the ready there. I suspect 75 00:04:18,080 --> 00:04:22,560 Speaker 1: any military incursion would first involve air superiority before ground 76 00:04:22,560 --> 00:04:24,480 Speaker 1: troops were ever involved. And I know we're getting into 77 00:04:24,520 --> 00:04:29,400 Speaker 1: hypotheticals here, but general, what's our capability in Europe? Well, 78 00:04:29,440 --> 00:04:31,640 Speaker 1: you asked me two questions. You want to talk about 79 00:04:31,680 --> 00:04:33,640 Speaker 1: how the Russians would do this or do you want 80 00:04:33,680 --> 00:04:36,679 Speaker 1: to talk about what we have in Europe and how 81 00:04:36,720 --> 00:04:38,960 Speaker 1: what that means? I'm asking you what we have in 82 00:04:39,000 --> 00:04:41,880 Speaker 1: Europe right now if we had to use it. So, 83 00:04:41,960 --> 00:04:47,080 Speaker 1: the the U. S Air Forces Europe have multiple assets 84 00:04:47,120 --> 00:04:51,799 Speaker 1: already in Europe. They have strategic lift and tactical lift. 85 00:04:52,480 --> 00:04:57,840 Speaker 1: They have strict or fighter aircraft of various types, from 86 00:04:58,360 --> 00:05:03,159 Speaker 1: air defense aircraft, at ground attack aircraft and suppression of 87 00:05:03,320 --> 00:05:09,200 Speaker 1: enemy air forces aircraft and UH special forces aircraft as well. 88 00:05:09,240 --> 00:05:12,799 Speaker 1: So basically a slice of the air force is forward 89 00:05:12,839 --> 00:05:16,280 Speaker 1: in Europe. UH and at the ready, what do we 90 00:05:16,360 --> 00:05:18,880 Speaker 1: need that we don't have now? I saw you testify 91 00:05:19,360 --> 00:05:23,440 Speaker 1: before the House Arm Services Committee in we've had some 92 00:05:23,520 --> 00:05:26,320 Speaker 1: time since then, and said the military must rebuild in 93 00:05:26,360 --> 00:05:28,720 Speaker 1: Europe to face a more aggressive Russia. Have we done 94 00:05:28,720 --> 00:05:32,360 Speaker 1: that or have we let this slip away from us? Well, 95 00:05:32,720 --> 00:05:36,839 Speaker 1: if you pay attention to the absolute numbers, our numbers 96 00:05:36,839 --> 00:05:40,080 Speaker 1: have grown over the past several years, because we have 97 00:05:40,160 --> 00:05:47,320 Speaker 1: moved not permanent, but persistent rotational forces towards Europe, and 98 00:05:47,400 --> 00:05:51,000 Speaker 1: those forces have increased our overall footprint. And those are 99 00:05:51,440 --> 00:05:53,479 Speaker 1: those are in our front line states as you know, 100 00:05:53,680 --> 00:05:58,440 Speaker 1: fleshing out the teams in the Baltics, in Poland, Romania, 101 00:05:58,560 --> 00:06:02,280 Speaker 1: et cetera. So we have grown slightly over the past 102 00:06:02,839 --> 00:06:06,359 Speaker 1: several years forward. And is that along the lines of 103 00:06:06,400 --> 00:06:08,760 Speaker 1: what you're looking for. I guess I'm asking if if 104 00:06:08,800 --> 00:06:13,200 Speaker 1: we have the resources we need sir, Well, so if 105 00:06:13,240 --> 00:06:16,279 Speaker 1: you're asking the larger picture we have I think, in 106 00:06:16,360 --> 00:06:20,880 Speaker 1: my opinion about right when we're not being threatened, that's 107 00:06:21,000 --> 00:06:25,880 Speaker 1: clearly right. Now you have Russia which has more forces 108 00:06:26,000 --> 00:06:30,840 Speaker 1: on the border of of Ukraine than the entire United 109 00:06:30,880 --> 00:06:34,560 Speaker 1: States military has in Europe. So you you make your 110 00:06:34,560 --> 00:06:36,800 Speaker 1: own run at that. Well, so let's talk about that 111 00:06:37,080 --> 00:06:39,320 Speaker 1: to your point earlier, we'll spend this around and give 112 00:06:39,360 --> 00:06:41,440 Speaker 1: me a sense of you know, we we hear things 113 00:06:41,520 --> 00:06:44,360 Speaker 1: like a hundred thousand troops, a hundred and twenty thousand troops. 114 00:06:44,720 --> 00:06:47,360 Speaker 1: There's clearly quantity there. How about quality? Do they have 115 00:06:47,440 --> 00:06:52,480 Speaker 1: resources that present a grave risk to American forces? Well, 116 00:06:52,480 --> 00:06:55,400 Speaker 1: you asked, does it represent a grave risk to American forces. 117 00:06:55,480 --> 00:06:59,520 Speaker 1: Those forces are raid against Ukraine, not American forces. So 118 00:07:00,360 --> 00:07:03,400 Speaker 1: Ukraine is what we're worried about here, and they are 119 00:07:03,640 --> 00:07:06,520 Speaker 1: a good set of forces. If you've probably heard me 120 00:07:06,600 --> 00:07:10,520 Speaker 1: talk about Russia has proved that it is a learning 121 00:07:10,640 --> 00:07:14,080 Speaker 1: and adaptive force. It did not do well in the 122 00:07:14,120 --> 00:07:17,080 Speaker 1: first part of the war where they invaded and occupied 123 00:07:17,080 --> 00:07:20,560 Speaker 1: portions of Georgia, and oh eight, they improved on some 124 00:07:20,600 --> 00:07:23,000 Speaker 1: of the things they got wrong in Georgia when they 125 00:07:23,040 --> 00:07:27,800 Speaker 1: invaded Ukraine in thirteen and fourteen. And now we're facing 126 00:07:28,400 --> 00:07:32,240 Speaker 1: a force that has battle tested men and techniques that 127 00:07:32,360 --> 00:07:36,080 Speaker 1: they've picked up in Syria. So this is a battle 128 00:07:36,560 --> 00:07:40,320 Speaker 1: tested force that is learning and adaptive, and we see 129 00:07:40,360 --> 00:07:43,480 Speaker 1: that they are better prepared than they were the last time. 130 00:07:43,880 --> 00:07:47,840 Speaker 1: What would an invasion look like? Well, I don't like 131 00:07:47,960 --> 00:07:50,920 Speaker 1: that word invasion. There's too many people running around with 132 00:07:51,000 --> 00:07:56,040 Speaker 1: these large scale invasion words. What Mr Putin has on 133 00:07:56,080 --> 00:08:00,640 Speaker 1: the border of Ukraine is a very formidable force, but 134 00:08:00,800 --> 00:08:05,600 Speaker 1: for limited objectives. I've heard people speculating that they're gonna 135 00:08:05,640 --> 00:08:08,720 Speaker 1: ind invade and take everything east of the Nipper River. 136 00:08:08,920 --> 00:08:12,640 Speaker 1: There's not enough force there. There is enough force there 137 00:08:13,040 --> 00:08:17,600 Speaker 1: to move through Belarus and put an incredible pressure on 138 00:08:17,720 --> 00:08:21,480 Speaker 1: Kiev from very close to Kiev from the north, staying 139 00:08:21,520 --> 00:08:24,840 Speaker 1: on the north side of the Belarusian border. There's enough 140 00:08:24,880 --> 00:08:29,120 Speaker 1: force there to go into the Domboss Again, his forces 141 00:08:29,120 --> 00:08:32,760 Speaker 1: are already there propping up the proxy forces there, but 142 00:08:32,880 --> 00:08:36,880 Speaker 1: to to roll across the border with Great Gusto and 143 00:08:36,960 --> 00:08:42,880 Speaker 1: all of these armored formations and basically show the Western 144 00:08:42,920 --> 00:08:46,679 Speaker 1: world that Russia has here and Russia is in charge. 145 00:08:46,920 --> 00:08:50,040 Speaker 1: You're not here and you're not in charge. And then 146 00:08:50,040 --> 00:08:53,080 Speaker 1: he has a significant force in the south that could 147 00:08:53,200 --> 00:08:57,800 Speaker 1: run along the southern coast to build what we talked about, 148 00:08:58,040 --> 00:09:00,920 Speaker 1: you know back in thirteen and fourteen, the land bridge 149 00:09:00,960 --> 00:09:05,319 Speaker 1: to Crimea. Why is that important. It would encircle Madauple, 150 00:09:05,440 --> 00:09:12,160 Speaker 1: which is an incredibly important UH port for Ukraine, and 151 00:09:12,240 --> 00:09:15,480 Speaker 1: it could retake those or take those water fills north 152 00:09:15,600 --> 00:09:19,280 Speaker 1: of Crimea, which are so important. You hear the problems 153 00:09:19,320 --> 00:09:23,360 Speaker 1: that Crimea has with water. So he's built some tools 154 00:09:23,400 --> 00:09:26,920 Speaker 1: that have some incredible options, uh and I didn't cover 155 00:09:27,000 --> 00:09:28,960 Speaker 1: them all. There are other people who write about as 156 00:09:29,000 --> 00:09:31,240 Speaker 1: many as seven options, but I think those are the 157 00:09:31,320 --> 00:09:35,240 Speaker 1: three larger ones, and he can accomplish those options if 158 00:09:35,280 --> 00:09:37,720 Speaker 1: he throws his weight behind it. In that world, what 159 00:09:37,840 --> 00:09:40,840 Speaker 1: is the US invasion? He's not ready. The US troops 160 00:09:40,880 --> 00:09:43,800 Speaker 1: sit in Eastern Europe in a defensive posture. If that happens. 161 00:09:43,840 --> 00:09:46,199 Speaker 1: You you made the point that Russia's aimed at Ukraine, 162 00:09:46,240 --> 00:09:48,760 Speaker 1: not the US. But if we're if we're deploying in 163 00:09:48,800 --> 00:09:51,280 Speaker 1: Eastern Europe, is that truly a defensive posture From what 164 00:09:51,320 --> 00:09:56,560 Speaker 1: you're hearing, that posture is to defend NATO and to 165 00:09:56,720 --> 00:10:02,320 Speaker 1: ensure or assure ar NATO ally. Um, the both the 166 00:10:02,360 --> 00:10:04,840 Speaker 1: Secretary General of NATO and the President of the United 167 00:10:04,880 --> 00:10:08,239 Speaker 1: States has said, these are not combat troops being provided 168 00:10:08,360 --> 00:10:13,160 Speaker 1: for Ukraine. Uh, they are combat troops, some of our 169 00:10:13,280 --> 00:10:17,600 Speaker 1: very best, but they're there to defend and ensure our allies. 170 00:10:17,800 --> 00:10:21,360 Speaker 1: At this point, how concerned are you about a hot 171 00:10:21,400 --> 00:10:25,040 Speaker 1: war or are we Are we speaking in hypotheticals that 172 00:10:25,040 --> 00:10:26,959 Speaker 1: that we shouldn't be at this point in general, we're 173 00:10:26,960 --> 00:10:29,760 Speaker 1: talking about sanctions and a lot of different diplomatic solutions 174 00:10:29,800 --> 00:10:34,200 Speaker 1: tonight as well. Well. I just came from Kiev. I 175 00:10:34,240 --> 00:10:39,160 Speaker 1: just landed late last night, and and clearly, um, everyone 176 00:10:39,280 --> 00:10:44,680 Speaker 1: understands that there is a capable force sitting on the border. 177 00:10:45,400 --> 00:10:47,839 Speaker 1: If you hear someone tell you that they know what 178 00:10:47,960 --> 00:10:50,360 Speaker 1: Mr Putin is thinking. I suggest you hang up your 179 00:10:50,360 --> 00:10:53,680 Speaker 1: phone or turn off your computer, because I'm not totally 180 00:10:53,720 --> 00:10:56,720 Speaker 1: sure Mr Putin has made his mind up. He's trying 181 00:10:56,720 --> 00:11:01,120 Speaker 1: to negotiate. He's made some incredibly I demand some of 182 00:11:01,160 --> 00:11:05,360 Speaker 1: those that I absolutely believe he knew would not be accepted. 183 00:11:05,880 --> 00:11:09,080 Speaker 1: But there is a negotiation that's going on. And Mr 184 00:11:09,120 --> 00:11:13,480 Speaker 1: Putin has has a history of building tools and then 185 00:11:13,640 --> 00:11:15,920 Speaker 1: deciding whether he will or will not use them in 186 00:11:16,000 --> 00:11:19,520 Speaker 1: how he will use them. So, just to leave this thought, 187 00:11:19,640 --> 00:11:24,000 Speaker 1: I would say he has an incredible capability to accomplish 188 00:11:24,120 --> 00:11:27,840 Speaker 1: some objectives sitting on that border, and whether he's going 189 00:11:27,920 --> 00:11:30,200 Speaker 1: to choose to use them or not, I'm not going 190 00:11:30,240 --> 00:11:35,440 Speaker 1: to speculate. General Philip read Love, I appreciate your insights, 191 00:11:35,440 --> 00:11:38,920 Speaker 1: Former NATO Supreme Allied Commander. How about that for starting 192 00:11:38,920 --> 00:11:41,800 Speaker 1: off the program here with a lot to discuss with 193 00:11:41,880 --> 00:11:44,440 Speaker 1: the panel. Next and we'll have Rick and Genie along 194 00:11:44,480 --> 00:11:48,600 Speaker 1: the way, Bloomberg Politics contributors Jeanie Schanzano and Rick Davis. 195 00:11:48,640 --> 00:11:52,240 Speaker 1: Next on sound On, we'll check markets for you as well. 196 00:11:52,480 --> 00:11:58,000 Speaker 1: I'm Joe Matthew. This is Bloomberg. This is Bloomberg So 197 00:11:58,320 --> 00:12:04,840 Speaker 1: No with Joe Matthew on Bloomberg Radio. A performer NATO 198 00:12:04,920 --> 00:12:09,640 Speaker 1: Allied Supreme Commander Europe just framed the uncertainty for US. 199 00:12:09,679 --> 00:12:11,400 Speaker 1: Even Puttin himself doesn't know what he's going to do, 200 00:12:11,440 --> 00:12:13,800 Speaker 1: according to General reed Loove, who just got back from 201 00:12:13,880 --> 00:12:17,480 Speaker 1: Kiev last night in a fascinating conversation on certainty in 202 00:12:17,480 --> 00:12:19,360 Speaker 1: the air as well. Today at the Pentagon were Press 203 00:12:19,400 --> 00:12:22,920 Speaker 1: Secretary John Kirby, as we told you, announced the deployment 204 00:12:22,960 --> 00:12:25,640 Speaker 1: of troops, a couple of thousand troops moving into eastern Europe. 205 00:12:25,640 --> 00:12:27,760 Speaker 1: And that's not all he said. Here's Kirby from today 206 00:12:27,840 --> 00:12:30,439 Speaker 1: again at the Pentagon. We are not rolling out the 207 00:12:30,480 --> 00:12:34,800 Speaker 1: possibility that there will be other US moves inside Europe. 208 00:12:34,800 --> 00:12:38,000 Speaker 1: In other words, just like we're moving the Striker Squadron 209 00:12:38,040 --> 00:12:42,520 Speaker 1: from UH from Germany to Romania, there could be other 210 00:12:42,600 --> 00:12:46,280 Speaker 1: movements inside Europe in truth theater moves that we would 211 00:12:46,280 --> 00:12:48,560 Speaker 1: speak to. We're not ruling that out. We're also not 212 00:12:48,640 --> 00:12:51,040 Speaker 1: rulling out the possibility that additional forces from the United 213 00:12:51,040 --> 00:12:55,040 Speaker 1: States could deploy the Europe. Bloomberg Politics contributors Jeannie Chanzano 214 00:12:55,120 --> 00:12:57,520 Speaker 1: and Rick Davis make up the panel. Rick, This reminds 215 00:12:57,559 --> 00:12:59,880 Speaker 1: me of our conversation a bit yesterday and that the 216 00:13:00,240 --> 00:13:02,920 Speaker 1: weeks could be the most dangerous here. But I also 217 00:13:02,960 --> 00:13:04,719 Speaker 1: feel like this is more of what you have been 218 00:13:04,720 --> 00:13:09,000 Speaker 1: calling for, some actual action, moving equipment and leaning into this, 219 00:13:09,600 --> 00:13:12,480 Speaker 1: not just diplomatically but from a military standpoint. Is it 220 00:13:12,520 --> 00:13:14,520 Speaker 1: the right idea? Yeah, all of the above. I mean, 221 00:13:14,920 --> 00:13:17,600 Speaker 1: this period of time that we're in kind of frozen 222 00:13:17,640 --> 00:13:20,600 Speaker 1: in time, has allowed the US and the West UH 223 00:13:20,640 --> 00:13:23,760 Speaker 1: to really mobilize and sort of get their collective act together. 224 00:13:24,200 --> 00:13:27,280 Speaker 1: The US is now, I think, making a very responsible 225 00:13:27,320 --> 00:13:29,880 Speaker 1: decision to start putting forward troops out there to defend 226 00:13:29,880 --> 00:13:33,199 Speaker 1: our NATO allies UH and show a force. And and 227 00:13:33,480 --> 00:13:37,520 Speaker 1: it does seem that NATO itself and the West Western 228 00:13:37,600 --> 00:13:40,760 Speaker 1: European countries that support it are starting to combine their 229 00:13:40,800 --> 00:13:44,640 Speaker 1: forces and and and and really looked like a united 230 00:13:44,840 --> 00:13:47,880 Speaker 1: front against Russia. So what we didn't have a couple 231 00:13:47,920 --> 00:13:50,040 Speaker 1: of weeks ago seems to be in the offering now 232 00:13:50,360 --> 00:13:53,600 Speaker 1: and I think it will make Vladimir Putin think twice 233 00:13:53,600 --> 00:13:55,760 Speaker 1: about an incursion at this point. Does it make you 234 00:13:55,840 --> 00:13:58,280 Speaker 1: nervous at all? Genie? Is this beaten the drums or 235 00:13:58,320 --> 00:14:01,240 Speaker 1: exactly what this White House should be project It is 236 00:14:01,280 --> 00:14:03,920 Speaker 1: what the White House should be projecting, and the General 237 00:14:04,120 --> 00:14:07,680 Speaker 1: describe it beautifully. It's active deterrence and it has to 238 00:14:07,720 --> 00:14:10,840 Speaker 1: be done because, of course, Vladimir Putin has been acting 239 00:14:11,160 --> 00:14:14,199 Speaker 1: on a daily, if not hourly basis to ramp up 240 00:14:14,240 --> 00:14:18,319 Speaker 1: his troops and his military equipment on the border. So NATO, 241 00:14:18,720 --> 00:14:20,800 Speaker 1: with the United States as part of that, has got 242 00:14:20,840 --> 00:14:23,520 Speaker 1: to respond to that, and they've got to do it 243 00:14:23,560 --> 00:14:28,120 Speaker 1: in a way that it deters him from actually entering um. 244 00:14:28,400 --> 00:14:30,600 Speaker 1: You know, I know the General doesn't like the word incursion, 245 00:14:30,600 --> 00:14:33,120 Speaker 1: and I think he's right about but from taking additional steps. 246 00:14:33,160 --> 00:14:35,680 Speaker 1: So I do think it is the right move, but 247 00:14:35,800 --> 00:14:39,600 Speaker 1: I also am struck by how much domestic politics, both 248 00:14:39,600 --> 00:14:42,800 Speaker 1: in the US and around the world Germany, France, Italy, 249 00:14:42,840 --> 00:14:45,920 Speaker 1: Britain are playing into this. And while there is a 250 00:14:46,040 --> 00:14:48,880 Speaker 1: unity in NATO, uh, you know, if the troops go 251 00:14:48,960 --> 00:14:51,040 Speaker 1: in a fresh and troops go in, it is far 252 00:14:51,160 --> 00:14:53,400 Speaker 1: from as unified as it should be. And that's in 253 00:14:53,480 --> 00:14:56,000 Speaker 1: our own domestic case as well. So there's a lot 254 00:14:56,040 --> 00:14:58,440 Speaker 1: of leadership work to be done on getting people on 255 00:14:58,440 --> 00:15:02,000 Speaker 1: the same page. Chancellor Schultz says he will meet with 256 00:15:02,400 --> 00:15:05,080 Speaker 1: with Putin soon was the word used. I don't think 257 00:15:05,080 --> 00:15:08,960 Speaker 1: this is scheduled yet for talks over tensions. We're also 258 00:15:09,040 --> 00:15:13,320 Speaker 1: hearing from the UK, says Boris Johnson and Vladimir Putin 259 00:15:13,360 --> 00:15:17,760 Speaker 1: have agreed to seek a peaceful solution. Uh. It's interesting 260 00:15:17,800 --> 00:15:20,680 Speaker 1: to me, Rick, how decentralized all of this is, with 261 00:15:20,680 --> 00:15:24,760 Speaker 1: with you know, various members of the Alliance meeting separately 262 00:15:24,800 --> 00:15:27,960 Speaker 1: with Vladimir Putin. Does one lead to a breakthrough or 263 00:15:27,960 --> 00:15:30,160 Speaker 1: does this all have to be coalesced, you know, through 264 00:15:30,240 --> 00:15:32,760 Speaker 1: NATO at some point, you know. I think it's actually 265 00:15:32,800 --> 00:15:37,440 Speaker 1: a pretty smart decision by Western leaders to uh divide 266 00:15:37,480 --> 00:15:39,800 Speaker 1: and conquer. I think that's what you're seeing in real 267 00:15:39,840 --> 00:15:43,200 Speaker 1: time right now, with the leaders of Germany and France 268 00:15:43,240 --> 00:15:47,280 Speaker 1: taking a lead amongst the European countries, and and and 269 00:15:47,280 --> 00:15:51,160 Speaker 1: and and President Biden really starting to exert the US 270 00:15:51,280 --> 00:15:54,000 Speaker 1: muscle in the region. I think it's smart. I think 271 00:15:54,000 --> 00:15:58,720 Speaker 1: it keeps uh Putin uh talking, which is better than shooting, 272 00:15:59,280 --> 00:16:03,000 Speaker 1: and and think that could ultimately lead to I wouldn't 273 00:16:03,000 --> 00:16:05,520 Speaker 1: call it a breakthrough, but progress on a diplomatic front, 274 00:16:05,520 --> 00:16:08,880 Speaker 1: which is always the preference, uh than uh than you know, 275 00:16:08,960 --> 00:16:12,360 Speaker 1: sort of unleashing Russian troops on on on on the 276 00:16:12,360 --> 00:16:14,600 Speaker 1: people of the Ukraine. Do you worry about something being 277 00:16:14,600 --> 00:16:17,520 Speaker 1: lost in all these conversations, Jeannie, when when NATA was 278 00:16:17,520 --> 00:16:21,120 Speaker 1: trying to kind of act as a unified body. I 279 00:16:21,200 --> 00:16:24,400 Speaker 1: do worry to a certain extent. I think the conversations 280 00:16:24,400 --> 00:16:28,040 Speaker 1: are fine. What we are hearing though, is McCrone, for instance, 281 00:16:28,080 --> 00:16:31,920 Speaker 1: with his conversations with Putin. We haven't gotten a lot 282 00:16:32,000 --> 00:16:34,440 Speaker 1: of readoubts on the content of that, and that is 283 00:16:34,480 --> 00:16:37,680 Speaker 1: something that's been questioned, and I think rightly so, So 284 00:16:37,880 --> 00:16:40,360 Speaker 1: I'm fine with the conversations, but you also want to 285 00:16:40,360 --> 00:16:44,000 Speaker 1: make sure that everybody is on the same page essentially, 286 00:16:44,040 --> 00:16:46,440 Speaker 1: And you know, the United States has been allowing for 287 00:16:46,560 --> 00:16:50,280 Speaker 1: readoubts on our conversations, and McCrone should do the same 288 00:16:50,400 --> 00:16:53,160 Speaker 1: visa via his conversations with Putin. So I do think 289 00:16:53,200 --> 00:16:55,640 Speaker 1: there is some work there in terms of the relationship 290 00:16:55,720 --> 00:16:59,000 Speaker 1: between these allies. Requisite right to move troops before we 291 00:16:59,040 --> 00:17:03,000 Speaker 1: move sanctions. Sure, I prefer sanctions and troops at the 292 00:17:03,000 --> 00:17:07,720 Speaker 1: same time. But but I think this active deterrent, as 293 00:17:07,760 --> 00:17:11,200 Speaker 1: as the General talked about, is an importance uh element 294 00:17:11,520 --> 00:17:14,520 Speaker 1: of the overall plan. I think that Uh, I wouldn't 295 00:17:14,560 --> 00:17:17,760 Speaker 1: hesitate on sanctions. I think this idea that you only 296 00:17:17,800 --> 00:17:21,719 Speaker 1: sanctioned someone when it's the end, not the beginning of 297 00:17:21,760 --> 00:17:27,440 Speaker 1: the problem is I think giving Vladimir Putting too much credit, right. 298 00:17:27,480 --> 00:17:30,479 Speaker 1: I think the one thing he understands is power and force, 299 00:17:30,880 --> 00:17:34,800 Speaker 1: and I think sanctions upfront UH start to uh melt 300 00:17:34,800 --> 00:17:37,399 Speaker 1: away some of his aggression. How about Eugenie? Should it? 301 00:17:37,440 --> 00:17:39,760 Speaker 1: Should that be followed on as soon as possible? Here 302 00:17:39,800 --> 00:17:42,399 Speaker 1: we're looking at now a deal U s UK and 303 00:17:42,480 --> 00:17:45,520 Speaker 1: the EU finalizing a package that would be imposed only 304 00:17:45,640 --> 00:17:50,000 Speaker 1: upon invasion. Um. You know, I'm okay with waiting, and 305 00:17:50,119 --> 00:17:52,480 Speaker 1: because you know, if it is something that we can 306 00:17:52,640 --> 00:17:56,280 Speaker 1: use to deter him from action, I think that's okay 307 00:17:56,280 --> 00:17:58,840 Speaker 1: as long as he knows it's in the offing. I 308 00:17:58,880 --> 00:18:01,280 Speaker 1: think there are smart arts on both sides of this 309 00:18:01,400 --> 00:18:03,199 Speaker 1: question about do you do it now or do you 310 00:18:03,280 --> 00:18:05,520 Speaker 1: do it in the aftermath? But I think it is 311 00:18:05,560 --> 00:18:08,880 Speaker 1: important that the idea that the sanctions are out there 312 00:18:08,880 --> 00:18:12,160 Speaker 1: hanging over his head and can be used as leverage 313 00:18:12,160 --> 00:18:16,159 Speaker 1: in these conversations is critically important because Putin knows the 314 00:18:16,280 --> 00:18:19,360 Speaker 1: damage that can be done by any of the sanctions 315 00:18:19,400 --> 00:18:21,920 Speaker 1: that are being discussed. Rick and Jennie sound on this 316 00:18:22,000 --> 00:18:25,960 Speaker 1: is Bloomberg the headlines ahead of tomorrow's Federal Reserve confirmation hearing, 317 00:18:26,000 --> 00:18:28,679 Speaker 1: say it all, this is just a glance at the terminal. 318 00:18:28,720 --> 00:18:33,080 Speaker 1: Fed's first black female nominee brings new focus, stirs gop ire. 319 00:18:34,400 --> 00:18:37,639 Speaker 1: Raskin at FED would reduce fossil fuels access to money, 320 00:18:37,760 --> 00:18:42,000 Speaker 1: says to me, to me, previews tough questioning for FED nominees, 321 00:18:42,080 --> 00:18:44,760 Speaker 1: Raskin cook, We've got a good taste of it today. 322 00:18:44,920 --> 00:18:48,560 Speaker 1: On balance of power, Let's hear from the top Republican 323 00:18:48,600 --> 00:18:51,159 Speaker 1: on the Senate Banking Committee, because the idea here is 324 00:18:51,240 --> 00:18:56,520 Speaker 1: that well, you speaking largely for the Republican members on 325 00:18:56,560 --> 00:18:58,200 Speaker 1: this committee, to give us a sense of what we're 326 00:18:58,200 --> 00:19:02,040 Speaker 1: going to hear Patrick, whom he describing Sarah Bloom Raskin 327 00:19:02,200 --> 00:19:07,360 Speaker 1: specifically views on regulating climate risks as his number one concern. 328 00:19:07,720 --> 00:19:10,959 Speaker 1: Here's Senator to me on balance of power with David Weston. 329 00:19:11,400 --> 00:19:16,159 Speaker 1: My biggest concern is with Sarah Bloom Raskin, and the 330 00:19:16,680 --> 00:19:22,959 Speaker 1: nature of that concern is her longstanding, repeated, explicit, and 331 00:19:23,080 --> 00:19:28,920 Speaker 1: recent advocacy for the financial regulators generally and the FED 332 00:19:29,080 --> 00:19:35,119 Speaker 1: in particular. Two allocate credit, to allocate credit specifically away 333 00:19:35,280 --> 00:19:40,160 Speaker 1: from fossil fuel burning industries, because she thinks the risk 334 00:19:40,200 --> 00:19:43,920 Speaker 1: from climate changes is so imminent that that's necessary. Not now, 335 00:19:44,000 --> 00:19:47,960 Speaker 1: Tina Smith, Senator Tina Smith obviously sees this differently a Democrat. 336 00:19:48,040 --> 00:19:49,800 Speaker 1: Let's just give you a little, you know, taste of 337 00:19:50,000 --> 00:19:52,440 Speaker 1: little contrast here on the other side of the aisle, 338 00:19:52,480 --> 00:19:55,280 Speaker 1: remembering the Democrats can do this on their own. Here's 339 00:19:55,320 --> 00:19:58,439 Speaker 1: Senator Smith today, also on balance of power. I had 340 00:19:58,480 --> 00:20:02,560 Speaker 1: a great opportunity to talk with Sarah Bloom Raskin in 341 00:20:02,560 --> 00:20:05,280 Speaker 1: the last week, and I asked her specifically about how 342 00:20:05,359 --> 00:20:08,720 Speaker 1: she sees this issue of the FED and assessing the 343 00:20:08,840 --> 00:20:11,359 Speaker 1: risks of climate change when it comes to our financial system, 344 00:20:11,400 --> 00:20:14,320 Speaker 1: and I thought she was so sensible, so reasonable, as 345 00:20:14,359 --> 00:20:18,439 Speaker 1: she said, how we need to understand climate just like 346 00:20:18,520 --> 00:20:20,919 Speaker 1: we understand other risks. We need to look at the 347 00:20:20,960 --> 00:20:24,439 Speaker 1: tools that the Federal Reserve has to assess risk across 348 00:20:24,480 --> 00:20:28,880 Speaker 1: the board, and those tools apply. There are different questions though, 349 00:20:29,080 --> 00:20:32,600 Speaker 1: for different nominees. And while the climate issue for Sarah 350 00:20:32,640 --> 00:20:34,680 Speaker 1: Bloom Raskin is clearly something we're gonna spend a lot 351 00:20:34,680 --> 00:20:37,040 Speaker 1: of time on, it gets to be a little more 352 00:20:37,080 --> 00:20:43,120 Speaker 1: abstract with Lisa Cook questioning her qualifications, her resume or approach. 353 00:20:44,600 --> 00:20:46,640 Speaker 1: And that's what we want to talk to Mike McKee about, 354 00:20:46,640 --> 00:20:49,800 Speaker 1: Bloomberg Economics editor who's all over the FED and as 355 00:20:49,840 --> 00:20:54,439 Speaker 1: I'm sure looking forward to some of this interesting conversation tomorrow. Mike, 356 00:20:54,480 --> 00:20:56,240 Speaker 1: it's it's great to have you. I mean, we should 357 00:20:56,359 --> 00:21:00,560 Speaker 1: remind ourselves that that Democrats can get this done on 358 00:21:00,600 --> 00:21:02,440 Speaker 1: their own here right, that we're going to go through 359 00:21:02,480 --> 00:21:09,320 Speaker 1: this political exercise tomorrow. The ending notwithstanding, well, uh, it's 360 00:21:09,359 --> 00:21:13,520 Speaker 1: not completely clear Joe for two reasons. One, uh, we 361 00:21:13,600 --> 00:21:16,560 Speaker 1: don't know yet how Joe Mansion is going to vote. Now. 362 00:21:16,600 --> 00:21:18,320 Speaker 1: We don't have any reason to think that he would 363 00:21:18,359 --> 00:21:22,879 Speaker 1: be opposed specifically to Lisa Cook or to Philip Jefferson. 364 00:21:23,520 --> 00:21:26,480 Speaker 1: But he does come from a coal mining state, and 365 00:21:26,680 --> 00:21:33,600 Speaker 1: Sarah Raskin has suggested that the fossil fuel companies are 366 00:21:33,680 --> 00:21:37,600 Speaker 1: not good investments. So it'll be interesting to see how 367 00:21:37,680 --> 00:21:39,840 Speaker 1: he would react. He's not on the Banking Committee, but 368 00:21:40,520 --> 00:21:42,840 Speaker 1: so he won't be questioning tomorrow, but when it comes 369 00:21:42,840 --> 00:21:45,520 Speaker 1: to a vote. And the other problem is that the 370 00:21:45,560 --> 00:21:48,240 Speaker 1: Senator Ben Ray Luhan of New Mexico had a stroke 371 00:21:49,119 --> 00:21:53,480 Speaker 1: and Uh he is out for now. And it was 372 00:21:53,520 --> 00:21:55,840 Speaker 1: pointed out by Jim last here in Capital Alpha that 373 00:21:56,000 --> 00:21:59,720 Speaker 1: Joe Biden had a brain aneurism when he was approximately 374 00:21:59,760 --> 00:22:03,119 Speaker 1: the same age. He was forty nine are Benry Luhan's 375 00:22:03,119 --> 00:22:06,760 Speaker 1: forty Biden was and he was out of the Senate 376 00:22:06,760 --> 00:22:10,480 Speaker 1: for nine months. We have no prognosis on Luhan. But 377 00:22:11,000 --> 00:22:16,000 Speaker 1: if the Republicans felt that they could block Raskin and 378 00:22:16,080 --> 00:22:19,440 Speaker 1: maybe one or two of the others, they might do 379 00:22:19,520 --> 00:22:22,360 Speaker 1: that if they thought that it would take them up 380 00:22:22,359 --> 00:22:26,439 Speaker 1: to the point where a new UH Congress could be 381 00:22:26,440 --> 00:22:30,119 Speaker 1: elected and perhaps Democrats take over the Senate. You know, 382 00:22:30,119 --> 00:22:32,960 Speaker 1: I'll tell you our Republicans take over the Senate. In 383 00:22:33,440 --> 00:22:37,360 Speaker 1: your a suggestion there, you mentioned Joe Manchin always comes 384 00:22:37,400 --> 00:22:40,280 Speaker 1: down to the Senator from West Virginia. Republicans trying to 385 00:22:40,359 --> 00:22:44,840 Speaker 1: peel off any other Democrats. We haven't seen any evidence 386 00:22:44,840 --> 00:22:48,400 Speaker 1: of that yet. The Republicans seemed somewhat united in their 387 00:22:48,480 --> 00:22:54,520 Speaker 1: opposition to Raskin, UH, and there's opposition to Lisa Cook. 388 00:22:54,880 --> 00:22:58,280 Speaker 1: We haven't heard of really anybody who's opposed to Philip Jefferson. 389 00:22:58,600 --> 00:23:02,359 Speaker 1: He's even gotten some good comments from people like Kevin 390 00:23:02,359 --> 00:23:04,920 Speaker 1: Hassett who was the chairman of the Council of Economic 391 00:23:04,960 --> 00:23:09,440 Speaker 1: Advisors under Donald Trump. So he may be the safest one. 392 00:23:09,640 --> 00:23:14,120 Speaker 1: He's done more specifically in terms of monetary policies than 393 00:23:14,520 --> 00:23:18,480 Speaker 1: Lisa Cook, so they may the Republicans may let him 394 00:23:18,480 --> 00:23:20,680 Speaker 1: go through and give the other to a harder time. Wow, 395 00:23:21,280 --> 00:23:22,920 Speaker 1: this is going to be a kind of a bizarre 396 00:23:24,119 --> 00:23:27,520 Speaker 1: conversation with all three here. But great story from Craig 397 00:23:27,560 --> 00:23:34,200 Speaker 1: Torrist Daniel Flatley on the terminal about Lisa Cook Uh, who, 398 00:23:34,240 --> 00:23:36,399 Speaker 1: as they write, is not a typical nominee. So this 399 00:23:36,480 --> 00:23:38,679 Speaker 1: part of the conversation gets to be a little bit different. 400 00:23:38,680 --> 00:23:41,199 Speaker 1: What is the actual argument, though, Mike, when you talk 401 00:23:41,240 --> 00:23:44,119 Speaker 1: about somebody not being qualified, where's the list of qualifications 402 00:23:44,160 --> 00:23:46,800 Speaker 1: that we should be looking at. There is no list 403 00:23:46,800 --> 00:23:49,280 Speaker 1: of qualifications. It's in the eye of the beholder. And 404 00:23:50,200 --> 00:23:54,400 Speaker 1: I suspect that the qualification she fails on for Pat Twomey, 405 00:23:55,040 --> 00:23:59,800 Speaker 1: UH and Kevin Kramer and other Republicans is that she's 406 00:23:59,840 --> 00:24:04,120 Speaker 1: been nominated by a Democrat. Uh, So it's an opportunity 407 00:24:04,160 --> 00:24:08,720 Speaker 1: for them to question Uh a nominee and perhaps block her. 408 00:24:09,080 --> 00:24:11,919 Speaker 1: She's an academic, she hasn't done a lot of monetary 409 00:24:11,960 --> 00:24:16,840 Speaker 1: policy work. She has done a lot of international economics work, 410 00:24:17,760 --> 00:24:22,160 Speaker 1: spent a lot of time studying Russia. Uh So, Senator 411 00:24:22,200 --> 00:24:25,040 Speaker 1: to me today on balance Power made the case that 412 00:24:25,119 --> 00:24:28,160 Speaker 1: she hasn't known enough about monetary policy, and of course 413 00:24:28,200 --> 00:24:31,960 Speaker 1: David Weston noted that j. Paul didn't need it. He 414 00:24:32,040 --> 00:24:35,720 Speaker 1: was a lawyer and investment banker by training, and they 415 00:24:35,720 --> 00:24:37,800 Speaker 1: were just fine with him because he's a Republican. So 416 00:24:38,240 --> 00:24:40,560 Speaker 1: I know you, of all people, would be shocked that 417 00:24:40,640 --> 00:24:43,960 Speaker 1: politics is being played on Capolo Hill, but it seems 418 00:24:44,000 --> 00:24:46,680 Speaker 1: to be the case here. We don't really know how 419 00:24:47,760 --> 00:24:51,960 Speaker 1: opposed Republicans are to her, whether they would really try 420 00:24:52,040 --> 00:24:54,679 Speaker 1: to block her from taking the bed, but we do 421 00:24:54,800 --> 00:24:59,640 Speaker 1: remember two thousand eleven when Senator Richard Shelby blocked Peter 422 00:24:59,720 --> 00:25:03,240 Speaker 1: din And saying he wasn't qualified to be on Mike Mckeeborg, 423 00:25:03,640 --> 00:25:08,080 Speaker 1: we're out of time, Mike Bloomberg Economics Editor, Mike McKee 424 00:25:08,119 --> 00:25:10,320 Speaker 1: thanks for talking with us. Mike will reassemble the panel 425 00:25:10,359 --> 00:25:12,600 Speaker 1: to hear their thoughts on this next sound on This 426 00:25:12,720 --> 00:25:19,240 Speaker 1: is Bloomberg. This is Bloomberg, So no with Joe Matthew 427 00:25:19,720 --> 00:25:23,960 Speaker 1: on Bloomberg Radio. Of course we'll not have ears on 428 00:25:24,000 --> 00:25:26,960 Speaker 1: the Federal Reserve confirmation hearing is for you tomorrow and 429 00:25:27,000 --> 00:25:28,760 Speaker 1: we'll talk about it at this time. It's hard to 430 00:25:28,760 --> 00:25:31,280 Speaker 1: tell how bumpy this might get, but Republicans on the 431 00:25:31,320 --> 00:25:33,160 Speaker 1: Banking Committee are giving us a bit of a sense 432 00:25:33,200 --> 00:25:35,080 Speaker 1: like Pat too, me and well, I'd love to hear 433 00:25:35,080 --> 00:25:38,360 Speaker 1: from the panel on this. Bloomberg Politics contributors Jeanie Chantino 434 00:25:39,080 --> 00:25:41,879 Speaker 1: and Rick Davis. It does seem like they're on the 435 00:25:41,920 --> 00:25:44,720 Speaker 1: same page here in opposition certainly to Sarah bloom Rask 436 00:25:44,720 --> 00:25:47,600 Speaker 1: and Lisa Cooks. A little bit different here, Rick, But 437 00:25:47,920 --> 00:25:51,960 Speaker 1: is this gonna feel more like a Supreme Court confirmation hearing, 438 00:25:52,080 --> 00:25:54,720 Speaker 1: you know, with the with the grandstanding and in the 439 00:25:54,960 --> 00:25:57,760 Speaker 1: going over time and the tough questions. Yeah, I don't 440 00:25:57,760 --> 00:26:00,240 Speaker 1: think it's gonna be raised to that level. I mean, 441 00:26:00,440 --> 00:26:03,840 Speaker 1: just the stakes aren't that high. But um, clearly Republicans 442 00:26:03,880 --> 00:26:06,119 Speaker 1: have staked out some positions that they want to at 443 00:26:06,200 --> 00:26:08,760 Speaker 1: least extract an ounce of flesh and maybe even matter 444 00:26:08,840 --> 00:26:12,240 Speaker 1: real challenge. Uh. As we've talked in the past, as 445 00:26:12,280 --> 00:26:15,320 Speaker 1: long as Democrats have the ability to report out a committee. Uh, 446 00:26:15,359 --> 00:26:17,600 Speaker 1: this is kind of a moot case. Might require timing 447 00:26:17,760 --> 00:26:20,400 Speaker 1: because of you know what We've heard about Senator Ben 448 00:26:20,480 --> 00:26:24,320 Speaker 1: Ray Luhan not being available for a floor vote at 449 00:26:24,400 --> 00:26:27,399 Speaker 1: least for the next month or so. So, uh it 450 00:26:27,440 --> 00:26:32,440 Speaker 1: could delay the process. But at the end of the day, typically, UH, 451 00:26:32,600 --> 00:26:35,320 Speaker 1: FED nominations don't tend to get caught up in too 452 00:26:35,440 --> 00:26:38,360 Speaker 1: much politics. Uh. This may be the exception to that rule, 453 00:26:38,440 --> 00:26:42,240 Speaker 1: but I think generally speaking, it's just a lot of 454 00:26:42,280 --> 00:26:45,199 Speaker 1: people like um Senator to me want to extract their 455 00:26:45,200 --> 00:26:47,480 Speaker 1: ounce of flash. Sure right that if that's why the 456 00:26:47,520 --> 00:26:49,920 Speaker 1: preamble has really been something here, Jeanie, do you worry 457 00:26:49,920 --> 00:26:52,960 Speaker 1: about Democrats like the aforementioned Joe Mansion not being on 458 00:26:53,000 --> 00:26:56,760 Speaker 1: board and Republicans get a few It is a real concern. 459 00:26:56,840 --> 00:26:59,679 Speaker 1: And I don't think it's any surprise that Pat Toomey's 460 00:27:00,040 --> 00:27:03,119 Speaker 1: major focus has been on Bloom Raskin while others in 461 00:27:03,160 --> 00:27:06,240 Speaker 1: the GOP have been focused on cook And you know, 462 00:27:06,440 --> 00:27:09,720 Speaker 1: I do think it could be potentially contentious tomorrow. The 463 00:27:09,760 --> 00:27:12,680 Speaker 1: White House has set up a you know, a war room, 464 00:27:12,760 --> 00:27:16,600 Speaker 1: so to speak, to address challenges they seem coming ahead. 465 00:27:16,880 --> 00:27:20,840 Speaker 1: The Senate Banking GOP account on Wednesday morning this morning 466 00:27:20,880 --> 00:27:23,800 Speaker 1: blocked Cooks, said Book said cook at blocked access to 467 00:27:23,840 --> 00:27:26,600 Speaker 1: our profile and tweets. I mean, this is, you know, 468 00:27:26,720 --> 00:27:29,120 Speaker 1: a lot more than we usually see in these kinds 469 00:27:29,160 --> 00:27:31,600 Speaker 1: of hearings. So I do think there are signs that 470 00:27:31,600 --> 00:27:34,440 Speaker 1: can get contentious. And I also do think as much 471 00:27:34,440 --> 00:27:36,919 Speaker 1: as this is partisan, there are real questions that I 472 00:27:36,960 --> 00:27:40,600 Speaker 1: hope they're able to address, like the Fed's power and roles. 473 00:27:40,680 --> 00:27:43,320 Speaker 1: I mean, to me, talks about mission creeps. That's a 474 00:27:43,440 --> 00:27:47,400 Speaker 1: real concern that I hope in all of this partisan 475 00:27:47,480 --> 00:27:50,960 Speaker 1: politics can be addressed. What is the FEDS role? And 476 00:27:51,240 --> 00:27:53,560 Speaker 1: I think it's also important that these nominees get a 477 00:27:53,640 --> 00:27:57,280 Speaker 1: chance to defend themselves. I think some of particularly um 478 00:27:57,320 --> 00:27:59,919 Speaker 1: some of what they've said about Bloom Raskin for instance, 479 00:28:00,040 --> 00:28:02,760 Speaker 1: doesn't align. She's not as far out of the mainstream 480 00:28:02,840 --> 00:28:05,520 Speaker 1: as she's been portrayed. So hopefully they get a chance 481 00:28:05,560 --> 00:28:08,240 Speaker 1: to make that case. Rick A's Lisa Cook facing criticism 482 00:28:08,240 --> 00:28:10,720 Speaker 1: because of her philosophy or because of her race. This 483 00:28:10,760 --> 00:28:12,680 Speaker 1: has come up a lot of times, and I haven't 484 00:28:12,680 --> 00:28:15,800 Speaker 1: really gone there yet, but some of the criticism seems 485 00:28:15,800 --> 00:28:19,840 Speaker 1: to be a bit overwrought. Uh. I'm sure, uh, you know, 486 00:28:19,920 --> 00:28:23,119 Speaker 1: it'll appear overwrought to people who you know, maybe um, 487 00:28:23,320 --> 00:28:27,800 Speaker 1: uh don't have share her political views. Um, I would 488 00:28:27,800 --> 00:28:30,000 Speaker 1: say some of this is processed to write. I mean 489 00:28:30,680 --> 00:28:34,600 Speaker 1: Lisa Cook did not submit the writings that she indicated 490 00:28:34,720 --> 00:28:38,640 Speaker 1: she would. You're supposed to submit all your recent writings 491 00:28:38,680 --> 00:28:41,720 Speaker 1: to the committee, and there were a number of them 492 00:28:42,440 --> 00:28:47,080 Speaker 1: on in one instance on African American reparations that she 493 00:28:47,120 --> 00:28:50,320 Speaker 1: had excluded it was only a year old. And so 494 00:28:50,720 --> 00:28:53,520 Speaker 1: I think people feel like, at least the Republicans in 495 00:28:53,520 --> 00:28:56,280 Speaker 1: the committee might feel like she's just not being responsive, 496 00:28:56,320 --> 00:28:58,560 Speaker 1: that she's going to blow through the hearing, you know, 497 00:28:58,680 --> 00:29:00,760 Speaker 1: And you've got to play the game, gotta get you've 498 00:29:00,760 --> 00:29:04,400 Speaker 1: gotta be transparent. Uh, as you were just talking about Genie. Uh, 499 00:29:04,520 --> 00:29:07,320 Speaker 1: you know, you can't like cut off access to information. 500 00:29:07,680 --> 00:29:10,920 Speaker 1: This is a public asking her questions. It's not an 501 00:29:11,000 --> 00:29:15,080 Speaker 1: individual senator, and she is responsible to them to divulge 502 00:29:15,200 --> 00:29:17,800 Speaker 1: any information as she's put in the public domain. Well, 503 00:29:17,840 --> 00:29:19,920 Speaker 1: we'll be watching this hearing, of course, and and have 504 00:29:20,080 --> 00:29:22,400 Speaker 1: more for you on it. Like I said, at this 505 00:29:22,440 --> 00:29:25,120 Speaker 1: time tomorrow, we'll see how deeply they go into all 506 00:29:25,160 --> 00:29:26,760 Speaker 1: of these issues, and of course you can count on 507 00:29:26,800 --> 00:29:29,280 Speaker 1: Bloomberg to cover it. I do want to end where 508 00:29:29,280 --> 00:29:31,640 Speaker 1: we started. That's the deployment of troops in Eastern Europe 509 00:29:31,640 --> 00:29:34,960 Speaker 1: because there's been some tough talk about it on Capitol Hill. 510 00:29:35,000 --> 00:29:37,520 Speaker 1: Do you guys you see this from Josh Holly, Senator 511 00:29:37,600 --> 00:29:42,200 Speaker 1: Josh Holly, republican critic of course, of Joe Biden, essentially 512 00:29:42,240 --> 00:29:45,320 Speaker 1: is criticizing the President for ordering the troops and calling 513 00:29:45,360 --> 00:29:48,240 Speaker 1: on the White House to block Ukraine from joining NATO, 514 00:29:48,400 --> 00:29:52,800 Speaker 1: essentially saying it's time to abandon Ukraine. Uh On on 515 00:29:52,880 --> 00:29:56,840 Speaker 1: this fool's errand Adam Kinsinger, My god, these two guys 516 00:29:56,880 --> 00:29:58,920 Speaker 1: are going back and forth now, He tweeted, I hate 517 00:29:58,960 --> 00:30:01,040 Speaker 1: to be so personal, but Holly is one of the 518 00:30:01,080 --> 00:30:04,800 Speaker 1: worst human beings. Uh. Jen Saki was asked about it 519 00:30:04,840 --> 00:30:07,320 Speaker 1: today at the White House briefing. Here she is, well, 520 00:30:07,360 --> 00:30:12,960 Speaker 1: if you are digesting Russian misinformation and parroting Russian talking points, 521 00:30:13,560 --> 00:30:19,040 Speaker 1: you are not aligned with long standing bipartisan American values, 522 00:30:19,360 --> 00:30:22,400 Speaker 1: which is to stand up for the sovereignty of countries 523 00:30:22,440 --> 00:30:25,440 Speaker 1: like Ukraine but others uh their right to choose their 524 00:30:25,440 --> 00:30:29,560 Speaker 1: own alliances, and also to stand against very clearly the 525 00:30:29,600 --> 00:30:33,560 Speaker 1: efforts or attempts or potential attempts by any country to 526 00:30:33,720 --> 00:30:37,440 Speaker 1: invade and take territory of another country. That applies to 527 00:30:37,480 --> 00:30:40,600 Speaker 1: Senator Holly, but it also applies to others who may 528 00:30:40,600 --> 00:30:44,640 Speaker 1: be parroting the talking points of Russian propagandist leaders. That's 529 00:30:44,680 --> 00:30:48,000 Speaker 1: some pretty tough talk, Genie does does President Biden face of, 530 00:30:48,240 --> 00:30:52,320 Speaker 1: you know, having partisan exhaustion over this standoff eventually on 531 00:30:52,360 --> 00:30:55,760 Speaker 1: Capitol Hill? You know, I I love Josh how I 532 00:30:55,840 --> 00:30:58,360 Speaker 1: loved Adam Kissing your statement that you just read, because 533 00:30:58,360 --> 00:30:59,960 Speaker 1: you know, he says, I hate to be so perst 534 00:31:00,080 --> 00:31:03,560 Speaker 1: a butt and then he goes right into it. The 535 00:31:03,560 --> 00:31:05,600 Speaker 1: plane yet one of the worst. And you know, I 536 00:31:05,960 --> 00:31:08,280 Speaker 1: do think when you look at Kissinger, you look at 537 00:31:08,360 --> 00:31:11,600 Speaker 1: um Holly, they represent two sides of the Republican Party 538 00:31:11,640 --> 00:31:14,120 Speaker 1: that go back many years now, this more you know 539 00:31:14,200 --> 00:31:17,760 Speaker 1: Trump quote unquote isolationist growing group and of course the 540 00:31:17,800 --> 00:31:21,440 Speaker 1: more traditional Hawks. And and that's a real divide in 541 00:31:21,480 --> 00:31:24,600 Speaker 1: the Republican Party that predates Trump, but he certainly has 542 00:31:24,720 --> 00:31:28,120 Speaker 1: built on it, and we're seeing it echoed in Republican 543 00:31:28,200 --> 00:31:30,960 Speaker 1: media as we all know. But let's not forget you 544 00:31:31,040 --> 00:31:34,680 Speaker 1: also see some of this isolationist tendency in the Democratic 545 00:31:34,720 --> 00:31:38,200 Speaker 1: Party as well, particularly amongst progressives. So there is a 546 00:31:38,240 --> 00:31:42,480 Speaker 1: real concerted conversation to be had, which creates these strange 547 00:31:42,480 --> 00:31:48,320 Speaker 1: bedfellows between Republican more you know, isolationists and progressives. They 548 00:31:48,320 --> 00:31:51,120 Speaker 1: were cheering when Biden got us out of Afghanistan. They 549 00:31:51,160 --> 00:31:53,680 Speaker 1: don't want to see us back into Ukraine. And that's 550 00:31:53,720 --> 00:31:56,600 Speaker 1: a big fear. What is this, Rick? How how much 551 00:31:56,640 --> 00:31:58,360 Speaker 1: of a of a swath of the Republican Party is 552 00:31:58,960 --> 00:32:02,080 Speaker 1: Senator Holly speaking for a very minor part. I mean 553 00:32:02,160 --> 00:32:06,440 Speaker 1: it's the Trump Holly, a little bit of Rand Paul 554 00:32:06,480 --> 00:32:10,640 Speaker 1: appeaser category. Sure, they're they're they're you know, they're not hawks. 555 00:32:11,080 --> 00:32:13,560 Speaker 1: I would say the grand majority of Republicans in the 556 00:32:13,600 --> 00:32:16,080 Speaker 1: Senate and and frankly the vast majority in the House, 557 00:32:16,840 --> 00:32:19,920 Speaker 1: I think, share a more globalist point of view. Uh, 558 00:32:19,960 --> 00:32:23,200 Speaker 1: that's more traditionally Republican about you know, securing the uh, 559 00:32:25,000 --> 00:32:28,200 Speaker 1: the world against oppression that people like Vladimir Putin do. 560 00:32:28,720 --> 00:32:30,760 Speaker 1: But look, I mean, you know it is it is 561 00:32:30,800 --> 00:32:33,320 Speaker 1: a movement in the party. I mean, Donald Trump for 562 00:32:33,360 --> 00:32:36,960 Speaker 1: four years was an appeaser of Vladimir Putin and uh, 563 00:32:37,160 --> 00:32:38,959 Speaker 1: and and that got to be a popular thing if 564 00:32:38,960 --> 00:32:42,280 Speaker 1: you wanted to be a buddy of of of of 565 00:32:42,280 --> 00:32:45,520 Speaker 1: of Donald Trump. But like, look, even Lindsey Graham, you know, 566 00:32:45,520 --> 00:32:47,600 Speaker 1: who's back to being a little bit of Lindsey Graham 567 00:32:47,640 --> 00:32:50,120 Speaker 1: lately and says, oh, we need sanctions now. He's back 568 00:32:50,120 --> 00:32:53,760 Speaker 1: to being a putin foil um. You know. But but look, 569 00:32:53,760 --> 00:32:55,960 Speaker 1: I think you know, Kinsinger called him out on it, 570 00:32:56,000 --> 00:32:57,960 Speaker 1: and I love it. You know, he said, these guys 571 00:32:57,960 --> 00:33:00,520 Speaker 1: are con artists and they're just sort of suck up 572 00:33:00,560 --> 00:33:03,320 Speaker 1: to Tucko Carlson, who's sort of the band leader of 573 00:33:03,400 --> 00:33:05,880 Speaker 1: this odd group of people who are outside the mainstream 574 00:33:05,880 --> 00:33:08,360 Speaker 1: of the Republican Party. Oh my god, what a story. 575 00:33:08,440 --> 00:33:10,440 Speaker 1: As I now see the headline of the Washington Post, 576 00:33:10,840 --> 00:33:14,920 Speaker 1: Trump calls Senate Ally Lindsay Graham a rhino over differences 577 00:33:14,920 --> 00:33:18,440 Speaker 1: in pardoning January six rioters. This goes back to, uh, 578 00:33:18,560 --> 00:33:20,600 Speaker 1: you know, the comment from Lindsay Graham on Sunday morning, 579 00:33:20,640 --> 00:33:22,880 Speaker 1: you think it was great to be pardoning those who 580 00:33:22,880 --> 00:33:26,240 Speaker 1: attack the capital on January six? Genie is is Lindsey 581 00:33:26,240 --> 00:33:29,600 Speaker 1: Graham going to morph into something else all over again? 582 00:33:29,800 --> 00:33:32,800 Speaker 1: He's persona non grata all over again. And you know, 583 00:33:33,120 --> 00:33:35,120 Speaker 1: I have to say, I think on this one, Lindsay 584 00:33:35,120 --> 00:33:37,719 Speaker 1: Graham is on the right side of history here. You 585 00:33:37,800 --> 00:33:40,960 Speaker 1: don't pardon people who have broken into the capital, and 586 00:33:41,160 --> 00:33:43,640 Speaker 1: you know, not only you know a great deal of 587 00:33:43,720 --> 00:33:45,920 Speaker 1: violence and led to the deaths of people. I don't 588 00:33:45,920 --> 00:33:48,280 Speaker 1: think that is a bridge too far, but I do 589 00:33:48,360 --> 00:33:51,600 Speaker 1: think as this conversation continues about the Ukraine, it is 590 00:33:51,640 --> 00:33:55,320 Speaker 1: important that Republican and Democratic leaders alike explained to the 591 00:33:55,360 --> 00:33:58,120 Speaker 1: American people what is at stake for the United States 592 00:33:58,160 --> 00:34:00,920 Speaker 1: and democracy over there. That is important. If you don't 593 00:34:00,960 --> 00:34:04,080 Speaker 1: explain to people, they do wonder what we're doing over there, 594 00:34:04,120 --> 00:34:06,680 Speaker 1: and that is something that the President is responsible for, 595 00:34:06,800 --> 00:34:09,560 Speaker 1: as is Mitch McConnell and Republican leaders. Rick, if you 596 00:34:09,600 --> 00:34:12,000 Speaker 1: tell us that Lindsay Graham's golfing with Joe Biden again, 597 00:34:12,040 --> 00:34:14,359 Speaker 1: we'll know something is going on here. Yeah, I would 598 00:34:14,440 --> 00:34:16,320 Speaker 1: that's maybe a bridge too far. I don't even know 599 00:34:16,400 --> 00:34:20,960 Speaker 1: if the president golfs, But look, it's it's it's the 600 00:34:21,120 --> 00:34:25,879 Speaker 1: ever changing political perspective of Lindsey Graham. It's like going 601 00:34:25,960 --> 00:34:28,400 Speaker 1: to the circus and taking a ride on the roller coaster. 602 00:34:28,560 --> 00:34:32,320 Speaker 1: So uh, it makes for a great theater and for 603 00:34:31,800 --> 00:34:36,480 Speaker 1: for Graham watchers it's highly entertaining. But the bottom line is, uh, 604 00:34:36,480 --> 00:34:40,839 Speaker 1: I think the Republican Party universally. UH is aligned with 605 00:34:40,920 --> 00:34:42,960 Speaker 1: the president if anything, wants to push him to a 606 00:34:42,960 --> 00:34:46,319 Speaker 1: more aggressive posture on these sanctions. They pass a bill 607 00:34:46,360 --> 00:34:49,040 Speaker 1: tomorrow if if they could get agreement with Democrats on 608 00:34:49,120 --> 00:34:52,480 Speaker 1: sanctions immediately for Russia. So I think there's a good 609 00:34:52,520 --> 00:34:55,400 Speaker 1: partnership that's potentially available to the president if he wants it. 610 00:34:55,800 --> 00:34:58,440 Speaker 1: That's Rick Davis. She is Jeannie Chanzano. They are at 611 00:34:58,440 --> 00:35:01,560 Speaker 1: the signature panel here on sound on Bloomberg Politics contributors 612 00:35:01,560 --> 00:35:05,279 Speaker 1: and always a great pleasure. February is Black History Month, 613 00:35:06,080 --> 00:35:07,839 Speaker 1: and before we say goodbye, we want to hear from 614 00:35:07,960 --> 00:35:11,279 Speaker 1: Nita Young every day this month, celebrating significant moments in 615 00:35:11,480 --> 00:35:15,839 Speaker 1: US black history. With your installment now February two, Bloomberg's 616 00:35:15,960 --> 00:35:19,839 Speaker 1: Nita Young on this day in Black History. In two 617 00:35:19,840 --> 00:35:23,920 Speaker 1: thousand nine, Eric Holder became the first black Attorney General 618 00:35:24,000 --> 00:35:27,080 Speaker 1: of the United States of America. He was confirmed as 619 00:35:27,080 --> 00:35:30,720 Speaker 1: the eighty second Attorney General of the nation. Then President 620 00:35:30,719 --> 00:35:34,600 Speaker 1: Barack Obama nominated Holder months before, and he served more 621 00:35:34,640 --> 00:35:38,160 Speaker 1: than six years as Obama's attorney General. This made him 622 00:35:38,200 --> 00:35:42,360 Speaker 1: the third longest serving attorney general in US history. Today, 623 00:35:42,440 --> 00:35:46,760 Speaker 1: Holder advised its clients on complex investigations and litigation matters 624 00:35:47,000 --> 00:35:51,040 Speaker 1: at international law firm Covington and Burling. That's today in 625 00:35:51,080 --> 00:35:55,719 Speaker 1: Black History. I'm Nita Young Bloomberg Radio, rened to thank you. 626 00:35:55,840 --> 00:35:58,359 Speaker 1: I look forward to hearing from Nieda Young tomorrow at 627 00:35:58,360 --> 00:36:01,000 Speaker 1: this very same time here on Umberg Sound On. I'm 628 00:36:01,080 --> 00:36:05,319 Speaker 1: Joe Matthew back in the nation's capital. It's been real. 629 00:36:06,200 --> 00:36:08,560 Speaker 1: It was a great experience at the Mothership, but good 630 00:36:08,560 --> 00:36:10,360 Speaker 1: to be back in the bubble here. We'll rejoin you 631 00:36:10,400 --> 00:36:12,920 Speaker 1: with the latest on the confirmation hearings tomorrow and of 632 00:36:12,960 --> 00:36:17,120 Speaker 1: course the Russia Ukraine standoff. On the fastest hour in politics. 633 00:36:17,160 --> 00:36:18,239 Speaker 1: This is Bloomberg