Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News. Good morning, I'm Amy
Speaker 1: Morris and I'm Karen Moscow. Here are the stories we're
Speaker 1: following today.
Speaker 2: Karen, we begin looking at the life and legacy of
Speaker 2: Joe Lieberman. The former senator and vice presidential candidate, has
Speaker 2: passed away at the age of eighty two. His family
Speaker 2: says he died from complications after a fall. There has
Speaker 2: been an outpouring of praise from those he worked with
Speaker 2: in politics, from both sides of the political aisle, a
Speaker 2: rarity in politics. Republican Lindsay Graham honored him with a
Speaker 2: lengthy post on X, calling him his dear friend with
Speaker 2: whom he had traveled the world. Former Speaker Nancy Pelosi
Speaker 2: said Joe Lieberman helped pave the way for Jewish Americans
Speaker 2: in public service, and Republican Senator Susan Collins of Maine
Speaker 2: just yesterday afternoon at a middle school event, was asked
Speaker 2: who her favorite person was to work with.
Speaker 3: I have been fortunate to work with an a lot
Speaker 3: of people that I really liked, but if I had
Speaker 3: to pick one person, it would be former Senator Joe Lieberman.
Speaker 2: In Lieberman's home state, Connecticut, Senator Richard Blumenthal said Lieberman
Speaker 2: was a courageous leader who worked to bridge gaps and
Speaker 2: unite people. Al Gore also issued a lengthy statement calling
Speaker 2: Liberman a man of deep integrity who dedicated his life
Speaker 2: to his country Milami.
Speaker 1: In two thousand, Liberman made history as the first Jewish
Speaker 1: American nominated on a major party ticket when al Gore
Speaker 1: chose him to be his running made.
Speaker 4: There are some people who might actually call Al's selection
Speaker 4: of me an act of Kutzbach.
Speaker 1: Umberman saw himself as a centrist Democrat, supporting abortion rights,
Speaker 1: environmental protections, gun control, and gay rights. But he was
Speaker 1: also a foreign policy hawk, with full throateded support at
Speaker 1: the two thousand and three invasion of a Rock, which
Speaker 1: made him less popular with Democratic voters.
Speaker 4: There is no more faithful, important, or difficult responsibility that
Speaker 4: the Constitution gives members of Congress than to decide when
Speaker 4: whether and how to authorize the President and his commander
Speaker 4: in chief to go to war.
Speaker 1: Five years later, Lieberman came close to joining the GOP
Speaker 1: ticket as John McCain's running mate. He eventually left the
Speaker 1: Democratic Party and finished his career as an independent.
Speaker 2: Joe Lieberman was also the founding member of the third
Speaker 2: party group No Labels, and he was a guest on
Speaker 2: Bloomberg's Balance of Power one week ago today explaining how
Speaker 2: Americans are in favor of a third party, this whole.
Speaker 5: Movement and No Labels to run a third choice Bipartisian unity.
Speaker 5: Tickets started because our members saw another Trump Biden race
Speaker 5: coming and thought the country could do better.
Speaker 2: Former Senator Joe Lieberman.
Speaker 1: We want to turn now though, to the latest on
Speaker 1: the deadly Baltimore A bridge collapse. The Coastguard says the
Speaker 1: salvage firm resolved Marine is heading to Baltimore begin recovery efforts.
Speaker 1: It's mobilizing to refloat and remove the ship that hit
Speaker 1: the bridge, and it comes as surch and recovery efforts continue,
Speaker 1: with officials saying six are presumed dead. Maryland State Plice
Speaker 1: Superintendent Colonel Roland Butler Junior says divers found two of
Speaker 1: the victims who lost their lives.
Speaker 6: Divers located red pickup truck submerged in approximately twenty five
Speaker 6: feet of water in the area of the middle span
Speaker 6: of the bridge. Divers recovered two victims of this tragedy
Speaker 6: trap within the vehicle.
Speaker 1: Maryland State Elie Superintendent Colonel Roland Butler Juniors says operations
Speaker 1: change to a search and recovery effort, with records becoming
Speaker 1: too dangerous for divers to operate.
Speaker 2: Transportation Secretary Pete boodhage Edge says funding the reconstruction of
Speaker 2: the Francis Scott Key Bridge in Baltimore is not a
Speaker 2: political issue. He says the project should not be delayed.
Speaker 7: This isn't going to happen overnight.
Speaker 8: The original bridge took about five years to put up,
Speaker 8: and this isn't going to be cheap either. But we
Speaker 8: do have emergency relief funds to help in these situations.
Speaker 8: We really cannot yet say what the total price tag
Speaker 8: will be.
Speaker 2: Transportation Secretary Pete budaj Edge made those comments in an
Speaker 2: interview with Bloomberg's Joe Matthew in Washington.
Speaker 1: Melami another major story we're following this morning. New York
Speaker 1: is on track to become the first US city with
Speaker 1: congestion tolls on drivers. Members of the Metropolitan Transportation Authority
Speaker 1: Board have voted to greenlight the congestion pricing plan, expected
Speaker 1: to go into effect in June. And here's MTA Chairman
Speaker 1: General liber New.
Speaker 4: York has the more traffic than any place in the
Speaker 4: United States, and now we're doing something about it.
Speaker 1: MTA Chairman General liber says the plan will charge most
Speaker 1: cars fifteen dollars for entering the borough south of sixtieth
Speaker 1: Street during peak times. It still faces lawsuits from small
Speaker 1: business owners and the state of New Jersey.
Speaker 2: The US government had its credit score affirmed by S
Speaker 2: and P Global Ratings at double A plus. It is
Speaker 2: the credit assessor's second highest ranking, even as the country
Speaker 2: continues to face fiscal challenges.
Speaker 1: Well, we turned to the markets now, Amy wall Street
Speaker 1: enters the final day of the first quarter in record territory.
Speaker 1: The S and P five hundred closed at an all
Speaker 1: time high yesterday. The indexes up ten percent so far
Speaker 1: this year and about twenty five percent since late October.
Speaker 2: And Karen that rally has been fueled in large part
Speaker 2: by artificial intelligence mania and the optimism the Fed will
Speaker 2: be cutting rates. One prominent FED official this morning is
Speaker 2: pushing back on that rates narrative. Reserve Governor Christopher Waller
Speaker 2: says there's no rush to move on monetary policy.
Speaker 8: In my view, it is appropriate to reduce the overall
Speaker 8: number of rate cuts or push them further into the
Speaker 8: future into response to the recent data.
Speaker 2: Federal Reserve Governor Christopher used the term no rush four
Speaker 2: times in his remarks to the Economic Club of New York.
Speaker 1: Well Amy, the Fed and investors will get a slew
Speaker 1: of data today ahead of the holiday shortened training week,
Speaker 1: and we get a preview from Bloomberg's Michael McKee.
Speaker 9: Initial jobless claims have been running around two hundred and
Speaker 9: ten thousand or so per week, suggesting companies are not
Speaker 9: getting rid of workers, a good sign for employment. The
Speaker 9: University of Michigan Sentiment Index, meanwhile, has seen a bit
Speaker 9: of a decline in consumer attitudes. It doesn't necessarily mean
Speaker 9: we stop spending, but another decline would be something to watch.
Speaker 9: More important is the survey's view of inflation, both in
Speaker 9: the next year and over the next five years. Consumers
Speaker 9: haven't seen inflation rising in recent months. That's a good
Speaker 9: sign for the Fed and the economic outlook. Michael McKee, Bloomberg.
Speaker 1: Radio Ry Mike, Thanks, and the most important data of
Speaker 1: the week comes tomorrow when the market's closed. It's the
Speaker 1: Fed's preferred gauge of inflation, the PCE deflator. Time now
Speaker 1: for a look at some of the other stories making
Speaker 1: news in New York and around the world. For that,
Speaker 1: we're joined by Bloomberg's Michael Barr Michael, good Morning, Good
Speaker 1: Morning Karen.
Speaker 10: President Biden will be joined by two former presidents in
Speaker 10: New York today for a big campaign fundraiser. The President
Speaker 10: will share a stage with former President Obama and former
Speaker 10: President Clinton. White House Press Secretary Karine Jean Pierre says,
Speaker 10: this is a one of a kind gathering.
Speaker 1: These are presidents to former president the current president that
Speaker 1: believe in what we're trying to do in the Bien
Speaker 1: Harris administration, trying to move this country forward.
Speaker 10: The event will be at Radio City Music Hall. Awake
Speaker 10: will be held today for fall in New York City
Speaker 10: police officer Jonathan Diller. Last night, vigils were held in
Speaker 10: Queen's and on Long Island for Diller, who was shot
Speaker 10: and killed during a traffic stop in Queen's on Monday.
Speaker 10: Family and friends of Diller, who was thirty one years old,
Speaker 10: gathered at Brady Park in Massapequa Park, where he lived.
Speaker 10: Diller's brother in law, Joseph.
Speaker 7: Leinout family was number one in his life.
Speaker 8: His sister, his brother, his mother, his wife, and his
Speaker 8: son Ryan.
Speaker 7: He taught me how to be a better person.
Speaker 10: Courtesy of ABC seven. Funeral services for Dillar are on Saturday. Meanwhile,
Speaker 10: the first of two suspects in Dillar's death has been
Speaker 10: charged and held without bail. Police say Lindy Jones, who
Speaker 10: is forty one, was behind the wheel at the time
Speaker 10: at the deadly shooting. Authority saved the suspected shooter. Thirty
Speaker 10: four year old Guy Rivera remains in the hospital after
Speaker 10: he was shot by Diller's partner. Both Rivera and Jones
Speaker 10: have lengthy criminal records. A California judge says John Eastman
Speaker 10: should be disbarred for knowingly making bogus, unfounded arguments that
Speaker 10: alleged election irregularities cost Donald Trump the White House, undermining
Speaker 10: the constitution and faith in the electoral process. California State
Speaker 10: Bar Court Judge Evett Roland rejected Eastman's contentions that he
Speaker 10: was acting in good faith in advising a client and
Speaker 10: was exercising his First Amendment rights in the comments he
Speaker 10: made at the January sixth, twenty twenty one rally at
Speaker 10: the National Mall just before the sold upon the US
Speaker 10: Capitol this morning in Manhattan. Sam Bankman Freed will be
Speaker 10: sentenced for what's been called one of the biggest financial
Speaker 10: frauds in US history. Global news twenty four hours a
Speaker 10: day and whenever you want it with Bloomberg News Now.
Speaker 10: Michael barrb this is Bloomberg Hern.
Speaker 1: All right, Michael Barr, thank you. It's time now for
Speaker 1: the Bloomberg Sports Update, brought to you by Tri State Audie,
Speaker 1: and here's John Stenshower.
Speaker 7: John, Thanks Karin.
Speaker 11: It's Opening day. All thirty teams were scheduled to play.
Speaker 11: The Mets game at City Field with Milwaukee was to
Speaker 11: be the first game of the day, but the decision
Speaker 11: made yesterday to rein it out. It's why they make
Speaker 11: Friday an off days. So the met opener first game
Speaker 11: for new manager Carlos Mendozo will be tomorrow. Yankees will
Speaker 11: play four o'clock in Houston. With the Garrett Cole injury,
Speaker 11: it's Nestor Cortes on the map. DJ LeMay, who also
Speaker 11: starting the season on the injured list of the Yanks
Speaker 11: just acquired and infielder johns Bertie from Miami Shoeotani's first
Speaker 11: Dodger home game. His deal is for seven hundred million dollars.
Speaker 11: The Dodgers made deals with four others, the total seven
Speaker 11: hundred million more. They just extended catcher Will Smith for
Speaker 11: ten more seasons. NCAA tournament back tonight with double headers
Speaker 11: in Boston and La. Yukon takes on San Diego State.
Speaker 11: That's the team they beat in last year's championship game.
Speaker 11: Iowa State meets Illinois. That's a game between the winners
Speaker 11: of the recent Big Twelve and Big Ten tourneys. Arizona
Speaker 11: takes on Clemson. North Carolina meets Alabama. Seaton Hall got
Speaker 11: snubbed by the NCUBA, settle for the NIT and now
Speaker 11: headed to Indianapolis for next week's Final four. The Pirates
Speaker 11: blew out UNLV by twenty three, also a blowout in Toronto.
Speaker 11: Knicks put up forty five points in the first quarter
Speaker 11: eighty in the first half. They beat the Raptors, who've
Speaker 11: lost twelve in a row, one forty five to one
Speaker 11: oh one. Nick shot fifty nine percent. They made half
Speaker 11: their three pointers next one in overtime. In Washington. John
Speaker 11: Stshower Bloomberg.
Speaker 12: Sports Coast to Coast on Bloomberg Radio, nationwide on Sirius XM,
Speaker 12: and around the world on Bloomberg dot Com and the
Speaker 12: Bloomberg Business. This is Bloomberg Daybreak.
Speaker 2: And we continue our coverage off the Baltimore Bridge collapse,
Speaker 2: our conversation with Transportation Secretary Pete Boodhage Edge. He joined
Speaker 2: Bloomberg's Joe Matthew to talk about the timetable for rebuilding
Speaker 2: the bridge, engaging lawmakers on the emergency funding request, and
Speaker 2: freeing those ships still trapped in the Baltimore Port. Let's
Speaker 2: go here part of that discussion.
Speaker 8: Unfortunately, recovery is not easy. There is poor visibility, there
Speaker 8: are tides in and out. But I'll tell you, having
Speaker 8: met some of the divers yesterday as they came out
Speaker 8: of the water for what was at that time still
Speaker 8: a search and rescue mission, the best people are working
Speaker 8: on this. I talked to the fire chief. His only
Speaker 8: concern was that his people weren't necessarily inclined to pace themselves.
Speaker 8: They came off a shift or out of the water,
Speaker 8: and we're already thinking about going back in. People are
Speaker 8: moving heaven and earth on that. And in the meantime,
Speaker 8: what we know is that there are six families that
Speaker 8: everything was normal for them two days ago, and now
Speaker 8: their lives are never going to be the same seventh
Speaker 8: who was very seriously injured and were waiting for word
Speaker 8: on their condition as well.
Speaker 13: You have now received an emergency funding request, Secretary from
Speaker 13: authorities in Maryland. How much is the state asking for
Speaker 13: and how quickly will the administration act on that.
Speaker 8: We're going to process this request immediately. We've got to
Speaker 8: make sure that funding is not a source of delay
Speaker 8: in getting to work. And our Federal Highways Administration team
Speaker 8: already sitting down with the Maryland dot to talk design, procurement,
Speaker 8: and what it's going to take to scope and launch
Speaker 8: that project of getting a new bridge built. This isn't
Speaker 8: going to happen overnight. The original bridge took about five
Speaker 8: years to put up, and this isn't going to be
Speaker 8: cheap either. But we do have emergency relief funds to
Speaker 8: help in these kinds of situations. We really cannot yet
Speaker 8: say what the total price tag will be. One thing
Speaker 8: I would point to is in two thousand and seven
Speaker 8: that Minnesota bridge collapse. It was a different situation, but
Speaker 8: it was another time when the federal government came in
Speaker 8: to help Minnesota rebuild that costs about two hundred and
Speaker 8: sixty million dollars. This is a larger span of a bridge,
Speaker 8: likely in many ways more complex project.
Speaker 13: This may not go easily on Capitol Hill. Have you
Speaker 13: begun engaging lawmakers already on what will be your emergency
Speaker 13: funding request.
Speaker 7: Yes.
Speaker 8: We had a conversation yesterday with members of the Maryland delegation,
Speaker 8: Senators Cardon and Van holland several House members, including the
Speaker 8: representators who look after the area most directly impacted. I
Speaker 8: know they're going to leave nothing to chance in terms
Speaker 8: of making sure the resources are there. Look, I know
Speaker 8: that politics are divisive right now, but this can't be
Speaker 8: a political issue.
Speaker 7: This can be a part of an issue.
Speaker 8: And to anybody who's on the fence on that, when
Speaker 8: the time comes, I would just say, you know, this
Speaker 8: is happening in Baltimore today, it could be your district next,
Speaker 8: and we always do best when we pulled together and
Speaker 8: support any one part of our country that's hurting.
Speaker 13: You said earlier in the White House briefing, the most
Speaker 13: immediate jobs are channel cleanup and reopening. Part of that,
Speaker 13: of course, is going to be moving the Dolly itself,
Speaker 13: which I know is a very delicate matter. Do you
Speaker 13: have any sense though, of how long it will take
Speaker 13: to free the forty sum ships we understand are trapped
Speaker 13: in the port.
Speaker 8: I think it will take a while. And those are
Speaker 8: ships that were obviously concerned about. They even include vessels
Speaker 8: that are overseen by the Department of Transportation, though those
Speaker 8: ships are not currently actively tasked. There are vessels that
Speaker 8: had cargo loads on them. They are being offloaded. And
Speaker 8: also cruise ships that were planning to head to Baltimore
Speaker 8: are no longer obviously going to be able to birth
Speaker 8: where they had planned to. We just don't know yet
Speaker 8: how long it's going to take to clear that channel.
Speaker 8: We do know that there are other ports that are
Speaker 8: preparing to absorb some of the traffic that's been diverted.
Speaker 13: You talk to the about the Freight office that you
Speaker 13: created during the pandemic and the supply chain crisis that
Speaker 13: I know the administration has spent a lot of time
Speaker 13: on that office has been busy working with supply chain
Speaker 13: stakeholders in this case to reappropriate I presume routes and destinations.
Speaker 13: Do you have a plan now for cars for coal
Speaker 13: to land in other ports on the East Coast.
Speaker 7: Yeah.
Speaker 8: What we're seeing right now is other ports are preparing
Speaker 8: to absorb some of those shipments. It really depends though,
Speaker 8: on the type of shipment containers obviously pretty standardized. A
Speaker 8: lot of places are equipped to handle shipping containers, but
Speaker 8: this is also a significant port for sugar. There are
Speaker 8: only so many places that can handle that particular type
Speaker 8: of shipment. There are other specific types of shipments that
Speaker 8: we're tracking to. That's exactly why we're so glad that
Speaker 8: this freight office is up and running. This was created
Speaker 8: by the President's by PARS and Infrastructure package. We stood
Speaker 8: it up in accordance with that legislation, and it is
Speaker 8: coming in handy. It's already been helpful navigating some of
Speaker 8: the disruptions on the Red Sea due to HOOKI attacks,
Speaker 8: and this is just one more case where it's showing
Speaker 8: the value of that coordination.
Speaker 13: You said earlier, this is not going to be simple,
Speaker 13: quick or easy. Do you have any idea how many
Speaker 13: years it will be before vehicles are crossing a new
Speaker 13: bridge in Baltimore.
Speaker 7: It's simply too soon to say. But what I will
Speaker 7: say is.
Speaker 8: We are going to work aggressively to support Maryland doing
Speaker 8: that as quickly as they safely and responsibly can. We
Speaker 8: should learn more very soon about the condition of the
Speaker 8: portions of the bridge that did not collapse, and the
Speaker 8: condition of some of the infrastructure.
Speaker 7: That is below the waterline.
Speaker 8: That will help to inform an estimate of what it's
Speaker 8: going to take, but just too soon to put a
Speaker 8: date on it.
Speaker 2: You're listening to Bloomberg Daybreak today, your morning brief on
Speaker 2: the stories making news from Wall Street to Washington and beyond.
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