1 00:00:02,200 --> 00:00:06,480 Speaker 1: Live from our nation's capital. This is Bloomberg Sound On. 2 00:00:07,560 --> 00:00:10,959 Speaker 1: It's just about infrastructure that can lead the economic growth 3 00:00:11,000 --> 00:00:13,119 Speaker 1: for a generation. We need to make sure that we 4 00:00:13,320 --> 00:00:18,160 Speaker 1: established the comprehensive cybersecurity strategy. Republicans have a great chance 5 00:00:18,280 --> 00:00:22,919 Speaker 1: of taking the House. In Floomberg sound On, the insiders, 6 00:00:23,040 --> 00:00:28,040 Speaker 1: the influencers, the insiders. We continue to open this economy slowly, 7 00:00:28,280 --> 00:00:30,080 Speaker 1: but it's coming back. I want to know what the 8 00:00:30,080 --> 00:00:32,360 Speaker 1: theme is going to be for Republicans. I can't imagine 9 00:00:32,360 --> 00:00:35,280 Speaker 1: a more important person in Washington right now than Senator 10 00:00:35,320 --> 00:00:39,880 Speaker 1: Joe Manchin. Bloomberg sund On with Joe Matthew on Floomberg 11 00:00:39,960 --> 00:00:45,360 Speaker 1: Radio from Washington, where the Fed Chair speaks, helping to 12 00:00:45,479 --> 00:00:49,720 Speaker 1: soothe some fears about inflation today as the economy recovers 13 00:00:49,760 --> 00:00:52,840 Speaker 1: from COVID. On the same day, the White House admits 14 00:00:52,920 --> 00:00:55,560 Speaker 1: it will not meet its vaccination goal by the fourth 15 00:00:55,600 --> 00:00:58,520 Speaker 1: of July. Coming up, we'll talk about the recovery and 16 00:00:58,560 --> 00:01:01,880 Speaker 1: the political implications of rising interest rates with McK mulvaney, 17 00:01:02,000 --> 00:01:04,800 Speaker 1: former Director of the Office of Management and Budget, former 18 00:01:05,040 --> 00:01:07,160 Speaker 1: White House Chief of Staff, and will be joined as 19 00:01:07,160 --> 00:01:10,640 Speaker 1: well by Bloomberg political contributor Jennie she and Zano along 20 00:01:10,720 --> 00:01:13,440 Speaker 1: today with Joe Crowley, former Congressman from New York, former 21 00:01:13,520 --> 00:01:15,680 Speaker 1: chair of the House Democratic Caucus. A good day is 22 00:01:16,160 --> 00:01:18,720 Speaker 1: New York City heads to the polls. We also have 23 00:01:18,760 --> 00:01:20,759 Speaker 1: breaking news on the voting rights bill in the House 24 00:01:21,040 --> 00:01:23,600 Speaker 1: from just a short time ago. We'll get to that shortly, 25 00:01:23,600 --> 00:01:26,880 Speaker 1: but first let's update the markets today, as stocks built 26 00:01:26,920 --> 00:01:29,760 Speaker 1: on yesterday's rebound to finish with some modest gains as 27 00:01:29,800 --> 00:01:32,640 Speaker 1: traders kept an ear on the testimony from Powell. The 28 00:01:32,760 --> 00:01:35,120 Speaker 1: SMP five hundred up twenty one points today about a 29 00:01:35,120 --> 00:01:38,080 Speaker 1: half percent, with retail and high tech leading the way, 30 00:01:38,160 --> 00:01:40,720 Speaker 1: higher than n ASDAC was up a hundred twelve points, 31 00:01:40,840 --> 00:01:45,000 Speaker 1: almost one percent, the Dow Industrial Average up sixty. Powell 32 00:01:45,000 --> 00:01:48,320 Speaker 1: told a Congressional sub committee today still expects inflation to Wayne, 33 00:01:48,400 --> 00:01:51,880 Speaker 1: says the Fed will wait for actual inflation before interest 34 00:01:51,960 --> 00:01:54,120 Speaker 1: rates must rise. The yield on the ten year note 35 00:01:54,160 --> 00:01:58,480 Speaker 1: actually fell slightly one point four seven percent. Bitcoin off 36 00:01:58,520 --> 00:02:01,720 Speaker 1: the mat today after falling the thirty thou dollars overnight 37 00:02:02,280 --> 00:02:06,040 Speaker 1: on worries about China taking a harder line on cryptocurrencies, 38 00:02:06,080 --> 00:02:08,880 Speaker 1: among other issues. Bitcoin, though trading back above thirty two 39 00:02:09,360 --> 00:02:13,600 Speaker 1: dollars testing thirty three thousand. This afternoon, shares of micro 40 00:02:13,720 --> 00:02:17,560 Speaker 1: Strategy down five, and Microsoft is now a two trillion 41 00:02:17,600 --> 00:02:21,959 Speaker 1: dollar company, joining Apple rather exclusive club with that market 42 00:02:22,040 --> 00:02:27,200 Speaker 1: value thanks to Microsoft's growing dominance in cloud computing. Microsoft 43 00:02:27,280 --> 00:02:31,440 Speaker 1: shares up one. Apple did the scene. I'm Joe Matthew 44 00:02:31,520 --> 00:02:34,600 Speaker 1: and that's Bloomberg Business Flash. Then we turned to our 45 00:02:34,639 --> 00:02:38,480 Speaker 1: top guest this morning, as we begin with congressional testimony 46 00:02:38,720 --> 00:02:41,440 Speaker 1: with FED Chair j Powell, who spoke to the House 47 00:02:41,440 --> 00:02:45,320 Speaker 1: Select Committee on the coronavirus crisis, and he went straight 48 00:02:45,360 --> 00:02:48,480 Speaker 1: for the eye word in his opening remarks. Inflation has 49 00:02:48,520 --> 00:02:52,000 Speaker 1: increased notably in recent months. This reflects, in part, the 50 00:02:52,160 --> 00:02:54,799 Speaker 1: very low readings from early in the pandemic falling out 51 00:02:54,840 --> 00:02:58,440 Speaker 1: of the calculation, the pass through of price increases in 52 00:02:58,600 --> 00:03:02,600 Speaker 1: oil prices to consumer energy prices, the rebound in spending 53 00:03:02,600 --> 00:03:06,600 Speaker 1: as the economy continues to reopen, and the exacerbating factor 54 00:03:06,639 --> 00:03:10,040 Speaker 1: of supply bottlenecks which have limited how quickly production in 55 00:03:10,120 --> 00:03:13,720 Speaker 1: some sectors can respond in the near term. Inflation has 56 00:03:13,800 --> 00:03:18,200 Speaker 1: increased notably. Powell, though says it will still be temporary. 57 00:03:18,400 --> 00:03:20,440 Speaker 1: I woke up to the headline on my Bloomberg app 58 00:03:20,440 --> 00:03:23,640 Speaker 1: today called Powell, Mr. Transitory, and of course not everybody 59 00:03:23,680 --> 00:03:28,520 Speaker 1: agrees with that, including Mike mulvaney, founder of Exegius Capital 60 00:03:28,560 --> 00:03:30,880 Speaker 1: and former director of the Office of Management and Budget, 61 00:03:30,880 --> 00:03:33,720 Speaker 1: former White House Chief of Staff. Make it's great to 62 00:03:33,760 --> 00:03:36,120 Speaker 1: have you with us today. Welcome. You've said inflation is 63 00:03:36,160 --> 00:03:39,960 Speaker 1: here to stay. Do you still believe that? I do? 64 00:03:40,040 --> 00:03:42,640 Speaker 1: I hope I'm wrong. By the way, thanks for having me. Um. 65 00:03:42,680 --> 00:03:45,880 Speaker 1: I hope I'm wrong, and I hope Jay is right. Um. 66 00:03:45,920 --> 00:03:47,840 Speaker 1: But if you simply look at the fundamentals of what 67 00:03:48,000 --> 00:03:50,880 Speaker 1: causes inflation, they are here and they seem to be 68 00:03:50,920 --> 00:03:53,240 Speaker 1: here to stay, which is that we have more and 69 00:03:53,280 --> 00:03:56,280 Speaker 1: more money being dumped into the system. Of course, inflation 70 00:03:56,640 --> 00:03:59,800 Speaker 1: defined very simply too much money chasing too few goods 71 00:03:59,840 --> 00:04:03,360 Speaker 1: and services. You pump a bunch of free money, new 72 00:04:03,400 --> 00:04:06,280 Speaker 1: money into a system without having a corresponding increase in 73 00:04:06,320 --> 00:04:09,040 Speaker 1: the in the goods and services that money can buy, 74 00:04:09,040 --> 00:04:11,200 Speaker 1: you're going to get inflation. And in fact, we're doing 75 00:04:11,200 --> 00:04:13,720 Speaker 1: the opposite under the Biden administration, or making it harder 76 00:04:14,160 --> 00:04:16,800 Speaker 1: to bring goods and services to market through new regulation, 77 00:04:16,880 --> 00:04:20,240 Speaker 1: to do tax teams, etcetera. So the fundamentals are there 78 00:04:20,279 --> 00:04:23,720 Speaker 1: for inflation I think for a while, I hope I'm wrong, 79 00:04:23,800 --> 00:04:26,560 Speaker 1: and I hope Powell's right. Well, judging by what we're 80 00:04:26,560 --> 00:04:31,160 Speaker 1: seeing already with consumer prices and a lot of materials prices, 81 00:04:31,600 --> 00:04:34,600 Speaker 1: some people think interest rates should rise sooner than later. 82 00:04:34,960 --> 00:04:37,720 Speaker 1: Chair Powell spoke directly to the matter of interest rates 83 00:04:37,839 --> 00:04:40,279 Speaker 1: in his testimony today. Here's what he said. We will 84 00:04:40,279 --> 00:04:44,080 Speaker 1: not raise interest rates preemptively because we think employment is 85 00:04:44,120 --> 00:04:47,920 Speaker 1: too high, because we fear the possible onset of inflation. Instead, 86 00:04:47,960 --> 00:04:51,200 Speaker 1: we will wait for actual evidence of actual inflation or 87 00:04:51,240 --> 00:04:54,039 Speaker 1: other imbalances. So or Mike al we splitting hairs here, 88 00:04:54,080 --> 00:04:58,240 Speaker 1: is is it time to start hiking sooner? Yes or no? 89 00:04:58,360 --> 00:05:00,720 Speaker 1: But not for the reasons. I actually agree what Paul 90 00:05:00,800 --> 00:05:03,039 Speaker 1: said there is that Listen, we've been pushing a long 91 00:05:03,040 --> 00:05:06,080 Speaker 1: time for them not to raise rates too quickly because 92 00:05:06,120 --> 00:05:08,960 Speaker 1: of the Phillips curve, the connection between employment rates UM 93 00:05:09,040 --> 00:05:12,520 Speaker 1: and inflation. UM. I'm okay with them not looking to 94 00:05:12,560 --> 00:05:15,440 Speaker 1: employment rates. I am wishing they would look at prices, 95 00:05:15,520 --> 00:05:19,680 Speaker 1: actual inflation. They were looking previously as uh, the employment 96 00:05:19,760 --> 00:05:22,920 Speaker 1: rate as a precursor to price pressure. UM. I thought 97 00:05:23,000 --> 00:05:25,200 Speaker 1: that was a terrible idea. We talked to Janet yelling 98 00:05:25,200 --> 00:05:27,400 Speaker 1: about that at length when I was in the House 99 00:05:27,440 --> 00:05:32,960 Speaker 1: Financial Services Committee. Um, but I don't understand why they 100 00:05:33,120 --> 00:05:35,440 Speaker 1: simply won't look at the prices right now. So I 101 00:05:35,640 --> 00:05:38,120 Speaker 1: think you're right. There are some indications that some of 102 00:05:38,160 --> 00:05:40,200 Speaker 1: it might be transitory. Yes, you're coming off a low base. 103 00:05:40,520 --> 00:05:42,279 Speaker 1: All of those things are true. But I keep coming 104 00:05:42,279 --> 00:05:45,760 Speaker 1: back to that same premise, which is that the basic 105 00:05:46,360 --> 00:05:49,279 Speaker 1: building blocks tr inflation are there, and importantly they are 106 00:05:49,400 --> 00:05:52,479 Speaker 1: not going away any times too. It's of course, not 107 00:05:52,600 --> 00:05:55,120 Speaker 1: just the FED when you look across the spectrum, the 108 00:05:55,440 --> 00:05:59,040 Speaker 1: financial regulatory agencies, many of them met with the President 109 00:05:59,080 --> 00:06:02,240 Speaker 1: in the Oval Office yesterday to talk about the reopening 110 00:06:02,240 --> 00:06:06,640 Speaker 1: and specifically the recovery from COVID. At what point to 111 00:06:06,800 --> 00:06:13,680 Speaker 1: higher prices threaten that recovery? Oh now, um, and here's why. 112 00:06:13,800 --> 00:06:16,080 Speaker 1: Here's where I think, and I now understand why why 113 00:06:16,120 --> 00:06:18,360 Speaker 1: my Democrat friends don't get this. By the way, um, 114 00:06:18,400 --> 00:06:20,880 Speaker 1: please sail of Joe Crowley, a great member of Congress. 115 00:06:21,360 --> 00:06:24,040 Speaker 1: We often didn't agree on policy, but there's a good 116 00:06:24,080 --> 00:06:25,760 Speaker 1: member of Congress, and gladys he he's on your show. 117 00:06:25,760 --> 00:06:28,000 Speaker 1: You should ask him the same question, which is who 118 00:06:28,080 --> 00:06:31,640 Speaker 1: does inflation hurt the most? Inflation hurts the middle class, 119 00:06:31,680 --> 00:06:33,839 Speaker 1: the lower class, and the elderly, the folks that we 120 00:06:33,839 --> 00:06:37,680 Speaker 1: are counting on to help drive this economic recovery as 121 00:06:37,720 --> 00:06:40,320 Speaker 1: we come out of COVID through consumer spending. And if 122 00:06:40,360 --> 00:06:44,360 Speaker 1: you undermine their buying power, their their purchase power through 123 00:06:44,480 --> 00:06:48,159 Speaker 1: a dramatic inflation, it puts the recovery at risk. Now, 124 00:06:49,839 --> 00:06:51,520 Speaker 1: you know. The other side of that is, of course, 125 00:06:51,600 --> 00:06:55,599 Speaker 1: is that you're you're talking about certain individuals who could 126 00:06:55,600 --> 00:06:59,479 Speaker 1: suffer more from inflation. There are still millions of people 127 00:06:59,520 --> 00:07:02,440 Speaker 1: out of work, millions of people who don't have a 128 00:07:02,520 --> 00:07:06,920 Speaker 1: job to go back to. In many cases, is the 129 00:07:07,000 --> 00:07:10,800 Speaker 1: stimulus that's coming from the Fed, from Congress and the 130 00:07:10,840 --> 00:07:13,720 Speaker 1: actions of the White House going to help them some 131 00:07:13,840 --> 00:07:19,000 Speaker 1: of the most vulnerable, the lowest income in America. UM, 132 00:07:19,160 --> 00:07:20,760 Speaker 1: I'm gonna challenge a little bit of your premise. You 133 00:07:20,760 --> 00:07:22,240 Speaker 1: said there's a bunch of people out of work. That 134 00:07:22,360 --> 00:07:24,080 Speaker 1: is a true statement. But then you said there's a 135 00:07:24,080 --> 00:07:25,560 Speaker 1: bunch of people out of work because there's there's no 136 00:07:25,640 --> 00:07:28,840 Speaker 1: job available for them. That's that's not accurate. It's certainly 137 00:07:28,920 --> 00:07:32,400 Speaker 1: going to be accurate on on on certain you know, 138 00:07:32,480 --> 00:07:35,400 Speaker 1: one off type of basis. But when you look at 139 00:07:35,400 --> 00:07:39,080 Speaker 1: the overall environment right now, we have more job openings 140 00:07:39,080 --> 00:07:41,520 Speaker 1: than we have unemployed. We have that difficulty in my 141 00:07:41,600 --> 00:07:44,000 Speaker 1: state of South Carolina, which is a circumstance that led 142 00:07:44,040 --> 00:07:46,800 Speaker 1: my governor and many others to dial back on the 143 00:07:46,840 --> 00:07:50,840 Speaker 1: extraordinary the extra unemployment benefits that many of us believe 144 00:07:50,880 --> 00:07:54,160 Speaker 1: we're keeping people from going back to work. So, yes, 145 00:07:54,160 --> 00:07:56,640 Speaker 1: there are folks out of work, but it's not it 146 00:07:56,680 --> 00:08:00,440 Speaker 1: doesn't seem to be because of the demand for labor. 147 00:08:00,720 --> 00:08:04,640 Speaker 1: Every single person listening to this uh, this show right 148 00:08:04,640 --> 00:08:06,840 Speaker 1: now knows of a business that hasn't been able to open, 149 00:08:06,840 --> 00:08:09,720 Speaker 1: a restaurant that hasn't been able to open, UM services 150 00:08:09,800 --> 00:08:13,640 Speaker 1: levels that are decreased because they cannot find people. Um 151 00:08:13,800 --> 00:08:15,840 Speaker 1: that we have created a circumstance where it is it 152 00:08:15,880 --> 00:08:18,160 Speaker 1: is too profitable not to work. And until we fix 153 00:08:18,240 --> 00:08:21,440 Speaker 1: that structural change, but that structural deficiency, you're going to 154 00:08:21,480 --> 00:08:27,200 Speaker 1: have a mismatch between jobs and employment. Considering the reopening 155 00:08:27,200 --> 00:08:30,080 Speaker 1: here for COVID, there's a great story on the Bloomberg 156 00:08:30,160 --> 00:08:34,480 Speaker 1: terminal today. UH, the headline the world's financial centers struggle 157 00:08:35,200 --> 00:08:37,680 Speaker 1: back to the office. It's it's not just here in 158 00:08:37,720 --> 00:08:41,439 Speaker 1: the US though. My personal example here is Washington, d C. 159 00:08:41,679 --> 00:08:44,680 Speaker 1: Which in many afternoons looks like a ghost town. When 160 00:08:44,679 --> 00:08:48,360 Speaker 1: you add other financial capitals in Europe and across this 161 00:08:48,440 --> 00:08:50,720 Speaker 1: country for that matter, what's it going to take to 162 00:08:50,840 --> 00:08:53,679 Speaker 1: get people to come back. If you're pointing to jobs 163 00:08:53,720 --> 00:08:55,600 Speaker 1: that are open and say that there are people qualified 164 00:08:55,640 --> 00:08:59,000 Speaker 1: for those jobs, you can have an argument about unemployment 165 00:08:59,040 --> 00:09:01,280 Speaker 1: rates and so forth, But we're talking about millions of 166 00:09:01,320 --> 00:09:03,280 Speaker 1: people who need to get back into the workforce. Does 167 00:09:03,320 --> 00:09:05,920 Speaker 1: that happen in the fall, when students start to go 168 00:09:06,000 --> 00:09:09,360 Speaker 1: back to work, when childcare starts to resolve itself. What's 169 00:09:09,360 --> 00:09:12,040 Speaker 1: your expectation in the next couple of months. Yeah, that's 170 00:09:12,040 --> 00:09:13,880 Speaker 1: a good question. I see. It really has two issues. 171 00:09:14,160 --> 00:09:17,640 Speaker 1: The folks not coming back into the office doesn't necessarily 172 00:09:17,679 --> 00:09:19,680 Speaker 1: mean they're not working. I haven't been doing office in 173 00:09:19,720 --> 00:09:21,960 Speaker 1: a year and a half, and I'm probably working more 174 00:09:22,000 --> 00:09:24,800 Speaker 1: now than I have in a long time. So now 175 00:09:24,880 --> 00:09:27,559 Speaker 1: I think there's there's a cultural issue to deal with 176 00:09:27,600 --> 00:09:29,560 Speaker 1: about whether or not people want to go back to work, 177 00:09:29,640 --> 00:09:32,959 Speaker 1: or whether or not they prefer working remotely. M I've 178 00:09:32,960 --> 00:09:36,120 Speaker 1: got anecgotal evidence from folks who work for various financial 179 00:09:36,120 --> 00:09:39,200 Speaker 1: institutions to say that productivity is actually higher since they've 180 00:09:39,240 --> 00:09:42,120 Speaker 1: been home and they know how to measure this apparently, Um, 181 00:09:42,160 --> 00:09:43,880 Speaker 1: given the fact that they're not spending an hour and 182 00:09:43,880 --> 00:09:46,880 Speaker 1: a half a day community and they're not spending an 183 00:09:46,880 --> 00:09:49,800 Speaker 1: hour and a half at lunch. So there's there's cultural changes, 184 00:09:50,080 --> 00:09:54,079 Speaker 1: seismic changes in our economy. I don't think that has 185 00:09:54,200 --> 00:09:56,120 Speaker 1: much to do with whether or not people want to 186 00:09:56,160 --> 00:09:58,440 Speaker 1: go back to work or can go back to work. Um, 187 00:09:58,480 --> 00:10:00,520 Speaker 1: the question is going to be matching the jobs with 188 00:10:00,559 --> 00:10:04,760 Speaker 1: the people. Right now. Jobs are there, Um, people are 189 00:10:04,800 --> 00:10:06,720 Speaker 1: are available, but they're not working. We need to figure 190 00:10:06,760 --> 00:10:10,160 Speaker 1: out why that is. We're talking with mc mulvaney here 191 00:10:10,160 --> 00:10:13,280 Speaker 1: on Bloomberg sound On as we turned to what's happening 192 00:10:13,600 --> 00:10:15,720 Speaker 1: on Capitol Hill. I want to ask you about this 193 00:10:16,480 --> 00:10:19,000 Speaker 1: debate about the filibuster. We're gonna talk about this coming 194 00:10:19,080 --> 00:10:21,959 Speaker 1: up with the aforementioned Joe Crowley and Jeannie She and 195 00:10:22,040 --> 00:10:25,120 Speaker 1: sano I saw the OpEd this morning from Senator at 196 00:10:25,160 --> 00:10:29,360 Speaker 1: kirston cinema Democrat of course from Arizona. Abolishing filibuster would 197 00:10:29,360 --> 00:10:34,240 Speaker 1: weaken democracy's guardrails. She says, is that the question that 198 00:10:34,320 --> 00:10:37,720 Speaker 1: we're coming to here when it comes to infrastructure or 199 00:10:37,720 --> 00:10:39,640 Speaker 1: even with regard to the Voting Rights Bill. What we 200 00:10:39,640 --> 00:10:43,520 Speaker 1: saw happen today is the filibuster going to be at risk. 201 00:10:45,040 --> 00:10:47,480 Speaker 1: I think anytime you've got one party in charge of 202 00:10:47,520 --> 00:10:50,240 Speaker 1: both chambers of Congress, you're going to have pressure on 203 00:10:50,360 --> 00:10:54,199 Speaker 1: the on the filibuster. Certainly I pressured Mitch McConnell to 204 00:10:54,240 --> 00:10:56,320 Speaker 1: try and limit the filibuster when I was Chief of 205 00:10:56,320 --> 00:10:59,160 Speaker 1: Staff the President United States. I thought that, um, the 206 00:10:59,679 --> 00:11:03,440 Speaker 1: mad earned filibuster, the notice filibuster where senators don't even 207 00:11:03,480 --> 00:11:06,839 Speaker 1: have to talk. A filibuster, um is an abomination. It's 208 00:11:06,880 --> 00:11:10,360 Speaker 1: it's it's not it's not historically sound, um. And they 209 00:11:10,360 --> 00:11:13,839 Speaker 1: should go back to the version of the filibuster where 210 00:11:13,880 --> 00:11:16,120 Speaker 1: you actually have to speak and the rest of the 211 00:11:16,160 --> 00:11:18,400 Speaker 1: Senate has to shut down during a real filibuster. That's 212 00:11:18,400 --> 00:11:20,800 Speaker 1: the way it ran for for many many decades. That's 213 00:11:20,840 --> 00:11:23,240 Speaker 1: the you know, Mr Smith goes to Washington model that 214 00:11:23,240 --> 00:11:26,560 Speaker 1: were many of us are familiar with for Hollywood. But um, 215 00:11:26,720 --> 00:11:29,719 Speaker 1: I think anytime you've got one party in control of 216 00:11:29,880 --> 00:11:32,520 Speaker 1: both and certainly one party in control of both chambers 217 00:11:32,520 --> 00:11:34,880 Speaker 1: plus the White House, there's tremendous pressure to get your 218 00:11:34,920 --> 00:11:37,520 Speaker 1: agenda done, and you're going to see pressure on the filibuster. 219 00:11:37,640 --> 00:11:40,480 Speaker 1: I don't think it's going to go away. UM for 220 00:11:40,559 --> 00:11:43,880 Speaker 1: a different reason, not because of guardrails of democracy, but 221 00:11:44,000 --> 00:11:46,520 Speaker 1: face if every Senator recognized that they could well be 222 00:11:46,559 --> 00:11:48,920 Speaker 1: in the minority after the next midterm election whenever that 223 00:11:48,960 --> 00:11:52,080 Speaker 1: misterm election might be, and it's going to undermine their 224 00:11:52,080 --> 00:11:55,679 Speaker 1: authority and their power. If the filibuster isn't there, well, 225 00:11:55,720 --> 00:11:58,680 Speaker 1: you're getting You're getting onto something there was. Obviously what's 226 00:11:58,760 --> 00:12:01,680 Speaker 1: good for one party will be wood for the other. UH. 227 00:12:01,720 --> 00:12:05,280 Speaker 1: With regard to in UH infrastructure bill, voting rights is 228 00:12:05,320 --> 00:12:09,079 Speaker 1: one thing. If infrastructure doesn't get done this summer, will 229 00:12:09,120 --> 00:12:11,240 Speaker 1: it happen in the fall. What kind of a timeline 230 00:12:11,240 --> 00:12:14,559 Speaker 1: do you see? What chances are you putting on this bill? Yeah, 231 00:12:14,720 --> 00:12:17,440 Speaker 1: I've changed my chances. I've increased my chances. I'm up. 232 00:12:17,480 --> 00:12:19,800 Speaker 1: I'm up about fifty fifty at this point because I 233 00:12:20,080 --> 00:12:23,080 Speaker 1: saw some language that I needed to see in order 234 00:12:23,080 --> 00:12:24,760 Speaker 1: to move it out of the less likely into the 235 00:12:24,760 --> 00:12:27,120 Speaker 1: more likely column. And that language is Over the weekend 236 00:12:27,120 --> 00:12:29,960 Speaker 1: when several of the Republicans who are working in this 237 00:12:30,000 --> 00:12:32,400 Speaker 1: group of ten or eleven I loose track, said that 238 00:12:32,640 --> 00:12:35,200 Speaker 1: they weren't going to focus too heavily on raising taxes. 239 00:12:35,200 --> 00:12:37,240 Speaker 1: They were going to worry about the pay force. They 240 00:12:37,280 --> 00:12:39,839 Speaker 1: started throwing around things like a you know, uh an 241 00:12:39,840 --> 00:12:42,760 Speaker 1: infrastructure bank and public private partnerships and so forth, which 242 00:12:43,240 --> 00:12:46,040 Speaker 1: that's not real money. Um So, what that means is 243 00:12:46,120 --> 00:12:49,640 Speaker 1: that they've they've they've telegraphed that really they don't care 244 00:12:49,640 --> 00:12:52,400 Speaker 1: about paying for it. That's where I expected this to be. 245 00:12:52,600 --> 00:12:54,680 Speaker 1: That's where I expected to go. And once that's off 246 00:12:54,679 --> 00:12:56,880 Speaker 1: the table makes it much easier to get a deal done. 247 00:12:56,880 --> 00:12:59,000 Speaker 1: It's easy to spend a tree in dollars, it's hard 248 00:12:59,000 --> 00:13:01,040 Speaker 1: to raise money to do it. We'll be back to 249 00:13:01,080 --> 00:13:03,600 Speaker 1: the conversation about how to pay for a big Mulvinny. 250 00:13:03,679 --> 00:13:05,680 Speaker 1: It's great to have you with us here on Bloomberg 251 00:13:05,760 --> 00:13:07,960 Speaker 1: Sound On, and thanks for the time. As we turn 252 00:13:08,120 --> 00:13:11,679 Speaker 1: to our political panel, watching the sausage being made on 253 00:13:11,760 --> 00:13:14,960 Speaker 1: Capitol Hill, even though no one seems to expect it 254 00:13:15,040 --> 00:13:19,160 Speaker 1: to ever be finished. Talking about the voting rights bill, 255 00:13:19,200 --> 00:13:22,040 Speaker 1: Senate Majority Leader Chuck Schumer says he has a deal 256 00:13:22,160 --> 00:13:28,640 Speaker 1: on that bill, at least with Joe Manchin. Center Mansion 257 00:13:28,720 --> 00:13:30,680 Speaker 1: is informed me that he will vote yes on the 258 00:13:30,720 --> 00:13:34,280 Speaker 1: Motion to proceed to debate the legislation. I have committed 259 00:13:34,280 --> 00:13:38,400 Speaker 1: to him that if our Republican colleagues don't obstruct and 260 00:13:38,440 --> 00:13:41,560 Speaker 1: allow us to move forward on the debate, we'll take 261 00:13:41,679 --> 00:13:44,880 Speaker 1: up his proposed substitute amendment as the first amendment we 262 00:13:44,920 --> 00:13:47,640 Speaker 1: will consider. But mostly no chance in that happening as 263 00:13:47,640 --> 00:13:52,480 Speaker 1: the legislation approaches a vote on cloture, including Minority Leader 264 00:13:52,840 --> 00:13:57,600 Speaker 1: Mitch McConnell. Finally, today we will put an end to 265 00:13:57,679 --> 00:14:00,920 Speaker 1: it here in the Senate or joined this morning, or 266 00:14:00,960 --> 00:14:04,000 Speaker 1: make that this afternoon. By Bloomberg Politics contributor Jeanie she 267 00:14:04,120 --> 00:14:07,520 Speaker 1: and Zano as well Joe Crowley, former congressman from New York, 268 00:14:07,559 --> 00:14:10,000 Speaker 1: former chair of the House Democratic Caucus. It's great to 269 00:14:10,000 --> 00:14:14,160 Speaker 1: have both of you with us. Forgive the former Morning 270 00:14:14,240 --> 00:14:18,360 Speaker 1: driver Joe Mick mulvaney was just talking about you, and 271 00:14:18,400 --> 00:14:21,600 Speaker 1: he was curious your thoughts on a couple of issues. 272 00:14:21,640 --> 00:14:23,360 Speaker 1: But I'd like to start with you on this one. 273 00:14:23,560 --> 00:14:25,800 Speaker 1: Thanks for being here. By the way, the voting rights bill, 274 00:14:26,800 --> 00:14:31,480 Speaker 1: am I missing something? Nobody actually expects this to be passed? No, 275 00:14:31,600 --> 00:14:33,560 Speaker 1: I don't think so. But I do think that what 276 00:14:33,720 --> 00:14:36,280 Speaker 1: Senator Subar is doing is he's pushing the envelope here, 277 00:14:36,760 --> 00:14:41,000 Speaker 1: he's actually putting this before the Senate and in essence 278 00:14:41,040 --> 00:14:45,160 Speaker 1: demonstrating how broken the Senate is right now by its 279 00:14:45,160 --> 00:14:48,640 Speaker 1: inability to even even debate the issue per se. You know. 280 00:14:48,760 --> 00:14:51,920 Speaker 1: So I think that's part of what's going on here. 281 00:14:52,360 --> 00:14:54,760 Speaker 1: It's not just show I think it's you know, it's 282 00:14:54,760 --> 00:14:58,120 Speaker 1: not just showmanship. That really is about, I think demonstrating 283 00:14:58,680 --> 00:15:00,600 Speaker 1: just you know, the quan we were in as a 284 00:15:00,680 --> 00:15:03,040 Speaker 1: country right now on the inability to send it to 285 00:15:03,080 --> 00:15:06,880 Speaker 1: even take up such an important bill. Genie. A lot 286 00:15:06,880 --> 00:15:10,800 Speaker 1: of talk today about messaging, is that what this is? Well, 287 00:15:10,840 --> 00:15:13,160 Speaker 1: it is because we're not talking about a vote on 288 00:15:13,200 --> 00:15:16,800 Speaker 1: the legislation. We're talking about a vote to actually talk 289 00:15:16,960 --> 00:15:20,560 Speaker 1: about the legislation, and that first vote is not even 290 00:15:20,560 --> 00:15:23,680 Speaker 1: going to get it, as you and Joe just mentioned 291 00:15:23,720 --> 00:15:27,120 Speaker 1: the two Joe's um, So this is a lot about messaging. 292 00:15:27,160 --> 00:15:30,160 Speaker 1: It's about the Democrats trying to push the message to 293 00:15:30,280 --> 00:15:33,800 Speaker 1: make the case as they run into two that Republicans 294 00:15:33,840 --> 00:15:36,960 Speaker 1: are stone walling them. And I would just push back 295 00:15:37,000 --> 00:15:40,240 Speaker 1: a little bit because I think when you have Stacy 296 00:15:40,320 --> 00:15:44,520 Speaker 1: Abrams and Barack Obama coming out and saying Democrats get 297 00:15:44,520 --> 00:15:47,920 Speaker 1: on board with Joe Mansion's alternative bill. It's not the 298 00:15:47,960 --> 00:15:50,440 Speaker 1: best bill, it's not everything you wanted, but it is 299 00:15:50,560 --> 00:15:53,440 Speaker 1: heck of a lot better than nothing. And they aren't 300 00:15:53,520 --> 00:15:56,160 Speaker 1: doing that. I think that's a big problem, and I 301 00:15:56,200 --> 00:15:59,440 Speaker 1: think that's something I hope that the Democrats get behind 302 00:16:00,080 --> 00:16:03,560 Speaker 1: after they make this sort of case about the Republican stonewalling, 303 00:16:03,880 --> 00:16:07,080 Speaker 1: Joe Crowley, this is about the hopes and aspirations of 304 00:16:07,120 --> 00:16:11,920 Speaker 1: the Democratic Party, certainly the progressive side of the Democratic Party. 305 00:16:12,240 --> 00:16:14,720 Speaker 1: What is Joe Biden left with here? Then? What does 306 00:16:14,760 --> 00:16:18,200 Speaker 1: the White House do next? If this is going nowhere? Well, 307 00:16:18,240 --> 00:16:20,240 Speaker 1: I think it's in beyond that, Joe. I think it's 308 00:16:20,240 --> 00:16:22,560 Speaker 1: about the state of our democracy and whether or not 309 00:16:22,600 --> 00:16:25,240 Speaker 1: we're actually encouraged people to be engaged in the political 310 00:16:25,280 --> 00:16:28,880 Speaker 1: process and to vote or not. And and that's really 311 00:16:28,920 --> 00:16:31,360 Speaker 1: what the crux of the problem is here is we've 312 00:16:31,400 --> 00:16:33,960 Speaker 1: seen state legislators all around the country some thirty some 313 00:16:34,080 --> 00:16:37,840 Speaker 1: on state legislators that are curtailing or limiting the access 314 00:16:37,840 --> 00:16:40,240 Speaker 1: to the ballot. And that's not healthy for our government, 315 00:16:40,320 --> 00:16:43,680 Speaker 1: for and for and for our country. But look, you know, 316 00:16:44,080 --> 00:16:46,560 Speaker 1: it's not just about this issue. It's about a number 317 00:16:46,560 --> 00:16:48,760 Speaker 1: of issues, including the infrastructure bills to whether or not 318 00:16:48,800 --> 00:16:51,360 Speaker 1: they'll be bipolity support there. And I think what it 319 00:16:51,400 --> 00:16:55,320 Speaker 1: really is demonstrating is again not just on this issue, 320 00:16:55,320 --> 00:16:58,920 Speaker 1: but on large the inability of the Senate. You know, 321 00:16:59,080 --> 00:17:01,360 Speaker 1: this is the the These are the mothers and fathers 322 00:17:01,360 --> 00:17:03,200 Speaker 1: of the country. You know, there were the states people 323 00:17:03,200 --> 00:17:05,280 Speaker 1: of the country. They're supposed to be able to get 324 00:17:05,320 --> 00:17:08,200 Speaker 1: things done even when the House is crippled. And even 325 00:17:08,280 --> 00:17:10,520 Speaker 1: that's not happening now, it hasn't happened for some time. 326 00:17:10,880 --> 00:17:13,240 Speaker 1: Really on the big issues, the real question is Joe 327 00:17:13,560 --> 00:17:16,720 Speaker 1: tend to tend to Congress do big things anymore? And 328 00:17:16,800 --> 00:17:19,040 Speaker 1: that's really lies at the heart of the matter here 329 00:17:19,520 --> 00:17:22,520 Speaker 1: without reconciliation. That is, it brings us to the whole 330 00:17:22,520 --> 00:17:25,639 Speaker 1: conversation about the filibuster. I'm sure you both saw the 331 00:17:25,680 --> 00:17:30,240 Speaker 1: op ed in the Washington Post from Senator Cinema saying 332 00:17:30,320 --> 00:17:36,960 Speaker 1: that to eliminate the filipbuster would weaken democracies guardrails Genie. 333 00:17:37,000 --> 00:17:39,719 Speaker 1: At least she took some attention away from Joe Manchin 334 00:17:39,800 --> 00:17:42,960 Speaker 1: for a moment. Here. Where is Kirsten Cinema coming from? 335 00:17:43,000 --> 00:17:46,679 Speaker 1: And what do the progressive Democrats who stumped for her 336 00:17:46,680 --> 00:17:49,919 Speaker 1: in the campaign think of this, Well, they can't be 337 00:17:50,000 --> 00:17:52,159 Speaker 1: happy with this, of course, And you know I have 338 00:17:52,320 --> 00:17:55,960 Speaker 1: to say, um, I disagree with Senator Cinema on this. 339 00:17:56,400 --> 00:17:59,960 Speaker 1: The filibuster was not something established by their framers. They 340 00:18:00,080 --> 00:18:03,159 Speaker 1: rejected it. It is a Senate rule. It's something that 341 00:18:03,200 --> 00:18:06,600 Speaker 1: they have adopted, and it has allowed minorities in the 342 00:18:06,720 --> 00:18:09,760 Speaker 1: Senate to have an outsized voice in our system. So 343 00:18:09,760 --> 00:18:12,080 Speaker 1: when Joe Crowley is talking about the Senate, not in 344 00:18:12,200 --> 00:18:14,560 Speaker 1: Congress as a whole, not being able to get things done, 345 00:18:14,880 --> 00:18:18,000 Speaker 1: it's precisely these kind of reforms that have to happen 346 00:18:18,359 --> 00:18:21,840 Speaker 1: to make our Congress more reflective of the majority of 347 00:18:21,880 --> 00:18:25,520 Speaker 1: citizens as a whole. When you have vast majorities of 348 00:18:25,840 --> 00:18:30,000 Speaker 1: people wanting sensible gun control, for instance, after twenty six 349 00:18:30,040 --> 00:18:33,119 Speaker 1: people children are shot and killed in Connecticut and they 350 00:18:33,160 --> 00:18:36,639 Speaker 1: can't push it through. That's deplorable. And you have to 351 00:18:36,680 --> 00:18:39,199 Speaker 1: get rid of this filibuster to make this happen. And 352 00:18:39,240 --> 00:18:43,200 Speaker 1: their arguments she makes in that editorial. I like Kristen Cinema, 353 00:18:43,240 --> 00:18:45,600 Speaker 1: but the arguments she makes that Republicans would turn around 354 00:18:45,640 --> 00:18:49,800 Speaker 1: and push back favored Democratic programs, those are not actually 355 00:18:49,880 --> 00:18:54,600 Speaker 1: factually true because those can be protected on reconciliation. So 356 00:18:54,880 --> 00:18:57,359 Speaker 1: I think her argument is flawed. I get that she 357 00:18:57,480 --> 00:19:00,399 Speaker 1: wants to maintain this traditional structure in the Senate, but 358 00:19:00,480 --> 00:19:02,080 Speaker 1: I don't think there's a good reason now in the 359 00:19:02,119 --> 00:19:04,399 Speaker 1: modern era to do this anymore. So this is what 360 00:19:04,480 --> 00:19:06,760 Speaker 1: McK mulvaney wanted me to ask you about cinema rights. 361 00:19:06,800 --> 00:19:09,760 Speaker 1: I will not support an action that damages our democracy. 362 00:19:09,800 --> 00:19:11,800 Speaker 1: If they, of course got rid of the filibuster, this 363 00:19:11,840 --> 00:19:15,680 Speaker 1: could be democrats problem at some point. I'm not so 364 00:19:15,800 --> 00:19:18,600 Speaker 1: sure that to do that with damage the democracy, uh 365 00:19:19,359 --> 00:19:22,000 Speaker 1: as Jennior alluded to. I do think that what it 366 00:19:22,040 --> 00:19:24,679 Speaker 1: does demonstrate, though, is that Joe Mention is not the 367 00:19:24,720 --> 00:19:29,560 Speaker 1: only person here maybe blocking this possible legislation. And I 368 00:19:29,600 --> 00:19:32,600 Speaker 1: actually think it goes beyond Kirsten cinema as well. As 369 00:19:32,600 --> 00:19:34,720 Speaker 1: we turn to the reopening and the effort to vaccinate, 370 00:19:34,800 --> 00:19:36,680 Speaker 1: there are a lot of skeptics in the White House 371 00:19:36,680 --> 00:19:40,280 Speaker 1: outlined its latest goal for vaccinations. Remember this, get one 372 00:19:40,320 --> 00:19:44,760 Speaker 1: shot into seventy adults by the fourth of July. It 373 00:19:44,800 --> 00:19:47,960 Speaker 1: seems we will not quite reach that goal. Well, we 374 00:19:48,000 --> 00:19:50,800 Speaker 1: don't see it exactly like something went wrong. How we 375 00:19:50,880 --> 00:19:53,720 Speaker 1: see it as we set a bold ambitious goal, something 376 00:19:53,760 --> 00:19:57,600 Speaker 1: the President has done from the very beginning, and we 377 00:19:57,640 --> 00:20:00,240 Speaker 1: are expected to meet that goal just to couple of 378 00:20:00,280 --> 00:20:02,760 Speaker 1: weeks after July four, and in fact, at this point, 379 00:20:02,800 --> 00:20:05,159 Speaker 1: as of today, we're going to be already at that 380 00:20:05,200 --> 00:20:08,200 Speaker 1: point for people who are thirty years of age and older. 381 00:20:08,520 --> 00:20:11,800 Speaker 1: And we're joined by Bloomberg Politics contributor Jeanie she Inzano 382 00:20:11,920 --> 00:20:14,239 Speaker 1: and Joe Crowley's with us today, the former congressman from 383 00:20:14,280 --> 00:20:19,280 Speaker 1: New York, the former chair of the House Democratic Caucus. Joe, 384 00:20:19,320 --> 00:20:21,240 Speaker 1: what's the point of putting out a goal like that 385 00:20:21,359 --> 00:20:25,159 Speaker 1: if you're not quite sure you're going to reach it? Well, 386 00:20:25,200 --> 00:20:27,080 Speaker 1: as I think the White House said, you know, it 387 00:20:27,119 --> 00:20:30,640 Speaker 1: was an ambitious goal, but uh, you know it wasn't 388 00:20:30,640 --> 00:20:33,679 Speaker 1: a complete failure either, because we have we have we 389 00:20:33,720 --> 00:20:36,760 Speaker 1: have vaccinated you know, hundreds of millions of people in 390 00:20:36,800 --> 00:20:40,320 Speaker 1: the United States today, over seventies cent of people thirty 391 00:20:40,359 --> 00:20:44,199 Speaker 1: year older unvaccinated, and uh, we'll reach our goal. We 392 00:20:44,240 --> 00:20:46,400 Speaker 1: will get there. So I think we have to look 393 00:20:46,400 --> 00:20:47,879 Speaker 1: at that way. You know. The other thing is too 394 00:20:48,040 --> 00:20:50,600 Speaker 1: you know, no one's shirking from this. No one is 395 00:20:50,920 --> 00:20:53,960 Speaker 1: is saying that they didn't they never they have promised that. 396 00:20:54,080 --> 00:20:55,760 Speaker 1: So I think that's a nu once here in terms 397 00:20:55,760 --> 00:20:58,879 Speaker 1: of this presidency. Uh, they're being very honest to stapforward 398 00:20:58,880 --> 00:21:01,720 Speaker 1: and truthful about it as well. Slidemire that Look, you're 399 00:21:01,800 --> 00:21:04,359 Speaker 1: right about all of that, Jennie. Joe is right about 400 00:21:04,440 --> 00:21:08,359 Speaker 1: all of that. Why then set a goal, you know, 401 00:21:08,600 --> 00:21:11,560 Speaker 1: some random number of rabbi percent or a group of people, 402 00:21:11,560 --> 00:21:14,280 Speaker 1: when when you have a great story to tell, especially 403 00:21:14,320 --> 00:21:15,720 Speaker 1: if they're going to hit this goal in the next 404 00:21:15,800 --> 00:21:18,520 Speaker 1: couple of weeks. They do have a great story to tell. 405 00:21:18,600 --> 00:21:21,520 Speaker 1: And and you know, I forgive them missing this goal, 406 00:21:21,720 --> 00:21:24,120 Speaker 1: as Joe said, and I agree with you, he's absolutely right. 407 00:21:24,359 --> 00:21:27,119 Speaker 1: By July four, they're going to have seventy percent for 408 00:21:27,200 --> 00:21:31,000 Speaker 1: twenty seven years and older. It's the younger people eighteen 409 00:21:31,040 --> 00:21:32,639 Speaker 1: to twenty six they say, are going to take a 410 00:21:32,640 --> 00:21:35,560 Speaker 1: few extra weeks. And I don't think anybody can criticize 411 00:21:35,560 --> 00:21:38,680 Speaker 1: the Biden administration and the team for where they've brought 412 00:21:38,800 --> 00:21:41,240 Speaker 1: us in just you know, four to five months or 413 00:21:41,280 --> 00:21:43,879 Speaker 1: however long it's been since he was inaugurated in January. 414 00:21:44,000 --> 00:21:47,359 Speaker 1: So he's exceeded all of the COVID goals he's set 415 00:21:47,480 --> 00:21:50,479 Speaker 1: until now. This one's going to take a couple extra weeks. 416 00:21:50,760 --> 00:21:53,600 Speaker 1: Maybe politically it wasn't the best thing, but I think 417 00:21:53,640 --> 00:21:56,960 Speaker 1: being ambitious and at this time and in this context, 418 00:21:57,000 --> 00:21:59,280 Speaker 1: I think it's okay that they did this and they're 419 00:21:59,280 --> 00:22:02,000 Speaker 1: going to meet it a few weeks later. You are 420 00:22:02,040 --> 00:22:04,600 Speaker 1: correct about that. That was Press Secretary Jen Saki we 421 00:22:04,720 --> 00:22:06,680 Speaker 1: just heard, by the way, and she did make that 422 00:22:06,760 --> 00:22:09,960 Speaker 1: point that it is young people who are making this 423 00:22:10,040 --> 00:22:12,640 Speaker 1: a lot more difficult. It's been a great deal more 424 00:22:12,640 --> 00:22:16,480 Speaker 1: difficult to get to get young people between the ages 425 00:22:16,520 --> 00:22:20,280 Speaker 1: of eighteen and twenty six vaccinated than adults who are 426 00:22:20,320 --> 00:22:24,480 Speaker 1: older than that. Hence, we're redoubling our efforts to ensure 427 00:22:24,520 --> 00:22:27,960 Speaker 1: we are targeting, we're focusing on we're making the vaccine 428 00:22:28,000 --> 00:22:31,280 Speaker 1: more accessible for those age groups. So, Joe Crowley, how 429 00:22:31,320 --> 00:22:33,639 Speaker 1: do you get young people to care? I mean, I 430 00:22:33,720 --> 00:22:35,720 Speaker 1: have enough trouble get my teenager out of bed in 431 00:22:35,760 --> 00:22:39,280 Speaker 1: the morning, and by the way, that teenagers vaccinated, but 432 00:22:39,320 --> 00:22:42,679 Speaker 1: I had to drag him there. Uh, that's just the 433 00:22:42,720 --> 00:22:44,440 Speaker 1: way of the world. When you're dealing with young people, 434 00:22:44,520 --> 00:22:47,359 Speaker 1: They're gonna put dr Fauci on TikTok. Is that going 435 00:22:47,440 --> 00:22:51,000 Speaker 1: to do it? You know? I do think that some 436 00:22:51,040 --> 00:22:53,960 Speaker 1: of the responsibility comes yet to the family themselves, you know, 437 00:22:54,040 --> 00:22:56,960 Speaker 1: and I know I know people with the sports figures, 438 00:22:56,960 --> 00:23:01,200 Speaker 1: and there are figures to try to influence entertainers. So 439 00:23:01,320 --> 00:23:03,320 Speaker 1: I think the families need to step up here, mothers 440 00:23:03,320 --> 00:23:06,200 Speaker 1: and fathers who care about their children to ensure that 441 00:23:06,440 --> 00:23:09,560 Speaker 1: when they're eligible, that they do get vaccinated. And I 442 00:23:09,560 --> 00:23:11,800 Speaker 1: think I think we will get there, and I felt 443 00:23:11,800 --> 00:23:15,040 Speaker 1: confident in that, um, you know, but I will say that, 444 00:23:15,080 --> 00:23:18,040 Speaker 1: you know, um that the naysayers out there are also 445 00:23:18,080 --> 00:23:20,959 Speaker 1: pretty loud. And I have relatives myself. I kind of 446 00:23:21,200 --> 00:23:24,159 Speaker 1: I cringe when they tell me that they're not getting 447 00:23:24,160 --> 00:23:25,879 Speaker 1: it because they're not gonna be guinea pigs, you know. 448 00:23:25,920 --> 00:23:28,960 Speaker 1: When you hear that, uh you know, uh, it just 449 00:23:29,000 --> 00:23:32,000 Speaker 1: makes me cringe. And these are fairly educated people who 450 00:23:32,000 --> 00:23:34,640 Speaker 1: are saying this to me. So, um, you know, it's 451 00:23:34,640 --> 00:23:37,199 Speaker 1: not just young people. Uh. There are other people out 452 00:23:37,240 --> 00:23:39,000 Speaker 1: there as well that need to uh you need to 453 00:23:39,000 --> 00:23:41,200 Speaker 1: have a little maybe pure pressure, family pressure brought to 454 00:23:41,240 --> 00:23:43,119 Speaker 1: bear on them as well. Well. I hate to always 455 00:23:43,160 --> 00:23:45,680 Speaker 1: be connecting the dots on these things, but it strikes 456 00:23:45,720 --> 00:23:49,720 Speaker 1: me that this story, the effort to vaccinate, the end 457 00:23:49,720 --> 00:23:53,760 Speaker 1: of COVID is critical to everything else that we're talking about, 458 00:23:54,040 --> 00:23:57,640 Speaker 1: including this debate over infrastructure, if we're going to reopen 459 00:23:57,680 --> 00:24:00,800 Speaker 1: the economy, if we're going to invest in America, and 460 00:24:00,840 --> 00:24:03,120 Speaker 1: this could be a lot of money to invest. As 461 00:24:03,200 --> 00:24:07,640 Speaker 1: we're debating, Genie, you have to have this virus come 462 00:24:07,680 --> 00:24:09,280 Speaker 1: to an end or we're going to be having a 463 00:24:09,280 --> 00:24:13,200 Speaker 1: different conversation come the fall. That's that's absolutely right. And 464 00:24:13,480 --> 00:24:15,320 Speaker 1: you know, as we talk about, and they talked about 465 00:24:15,359 --> 00:24:18,480 Speaker 1: today the delta variant spread coming across the country and 466 00:24:18,520 --> 00:24:21,760 Speaker 1: the impact and not just on the entire country, young 467 00:24:21,800 --> 00:24:25,119 Speaker 1: people in particular, worldwide, it is all connected. You can't 468 00:24:25,119 --> 00:24:28,840 Speaker 1: invest in infrastructure and reopen the economy if people start 469 00:24:28,920 --> 00:24:31,359 Speaker 1: getting sick again. And I have the same issue you 470 00:24:31,400 --> 00:24:34,160 Speaker 1: describe Joe with my with my sons and um they 471 00:24:34,160 --> 00:24:36,280 Speaker 1: are vaccinated, but one of them I had to push. 472 00:24:36,520 --> 00:24:39,280 Speaker 1: But I'm I am hopeful coming from a college environment, 473 00:24:39,280 --> 00:24:42,119 Speaker 1: that perhaps when they get back into school in the fall, 474 00:24:42,240 --> 00:24:46,800 Speaker 1: if institutions are requiring vaccination, it may help impact the 475 00:24:46,880 --> 00:24:49,359 Speaker 1: number of young people. But we can't forget the message 476 00:24:49,400 --> 00:24:51,200 Speaker 1: that went out to young people for a long time, 477 00:24:51,240 --> 00:24:53,560 Speaker 1: which is even if you get it, it won't be 478 00:24:53,600 --> 00:24:56,359 Speaker 1: as bad for you. And I think that message needs 479 00:24:56,400 --> 00:25:00,119 Speaker 1: to be corrected a bit. Yeah. Well, you know, the 480 00:25:00,400 --> 00:25:02,320 Speaker 1: fact is though there is some truth to that, isn't 481 00:25:02,320 --> 00:25:05,480 Speaker 1: there Joe Crowley. I mean people are getting vaccinated because 482 00:25:05,520 --> 00:25:08,720 Speaker 1: they know it will prevent the most severe symptoms or death. 483 00:25:09,520 --> 00:25:13,159 Speaker 1: There is obviously going to be a chance that somebody 484 00:25:13,200 --> 00:25:16,400 Speaker 1: catches COVID, but look, people get a flu shot every 485 00:25:16,480 --> 00:25:21,080 Speaker 1: year with much lower odds. Yeah, I think that's right. 486 00:25:21,119 --> 00:25:24,280 Speaker 1: I think you know the delta variant itself right now, 487 00:25:24,880 --> 00:25:27,720 Speaker 1: uh is one in five that are being treated now 488 00:25:28,080 --> 00:25:31,000 Speaker 1: are delta variance. And we know as well that it 489 00:25:31,040 --> 00:25:32,879 Speaker 1: means if you do getting you twice as likely to 490 00:25:32,920 --> 00:25:36,840 Speaker 1: go to the hospital. Um. And but if you are vaccinated, 491 00:25:37,040 --> 00:25:40,720 Speaker 1: the chances are extremely low, if if not infinitesimal, that 492 00:25:40,800 --> 00:25:43,000 Speaker 1: you will go to the hospital. And I think that's 493 00:25:43,040 --> 00:25:48,160 Speaker 1: the real advantage here being vaccinated. It's not just about yourself, 494 00:25:48,160 --> 00:25:49,840 Speaker 1: it's about all of us. And you talk about the 495 00:25:49,880 --> 00:25:53,159 Speaker 1: economy getting back together, you know, um, if we go 496 00:25:53,600 --> 00:25:56,320 Speaker 1: through another year of that because of the shutdown again, 497 00:25:56,880 --> 00:25:59,840 Speaker 1: lord knows where our economy will go or the world's 498 00:26:00,000 --> 00:26:03,719 Speaker 1: on to me for that matter. Our Political Panel with 499 00:26:03,800 --> 00:26:06,920 Speaker 1: Joe Crowley and Jennie she and Zano. We've also got 500 00:26:07,680 --> 00:26:10,080 Speaker 1: We've also got an election today up in New York, Joe, 501 00:26:10,119 --> 00:26:11,399 Speaker 1: and I hope that you'll be able to stay on 502 00:26:11,440 --> 00:26:13,480 Speaker 1: with us. Coming up, we're going to talk about this 503 00:26:13,760 --> 00:26:16,639 Speaker 1: primary election today happening in the city. It will be 504 00:26:16,720 --> 00:26:19,760 Speaker 1: joined as well by Jody Schneider, Bloomberg Political News Director. 505 00:26:20,359 --> 00:26:22,720 Speaker 1: Have you have you gotten out to vote? Well? No, 506 00:26:23,240 --> 00:26:26,080 Speaker 1: a resident of the city, so um, but I do 507 00:26:26,160 --> 00:26:28,480 Speaker 1: have a preference in this election. And we've got a 508 00:26:28,560 --> 00:26:32,439 Speaker 1: news alert on the terminal now. Morgan Stanley says it 509 00:26:32,480 --> 00:26:35,639 Speaker 1: will bar employees and clients that have not received a 510 00:26:35,760 --> 00:26:39,960 Speaker 1: COVID vaccine from entering its New York offices. The financial time, 511 00:26:40,000 --> 00:26:42,399 Speaker 1: siting and internal memo that it has seen on this 512 00:26:42,480 --> 00:26:46,159 Speaker 1: and it certainly complements the conversation that we were just 513 00:26:46,280 --> 00:26:51,520 Speaker 1: having about COVID, the vaccines, the reopening. All employees and clients, 514 00:26:51,960 --> 00:26:54,200 Speaker 1: as I mentioned, will be required to attest to being 515 00:26:54,280 --> 00:26:58,400 Speaker 1: fully vaccinated to access Morgan Stanley buildings in New York 516 00:26:58,480 --> 00:27:02,600 Speaker 1: City and in West Chess from July twelve. The memos 517 00:27:02,680 --> 00:27:07,119 Speaker 1: signed by the chief of the Human Resources office. Now 518 00:27:07,200 --> 00:27:10,000 Speaker 1: they're voting today in New York. It's primary election day. 519 00:27:10,160 --> 00:27:13,840 Speaker 1: The most diverse field of candidates for mayor ever, and 520 00:27:13,960 --> 00:27:16,560 Speaker 1: we have big plans tonight on Bloomberg Radio with special 521 00:27:16,560 --> 00:27:20,120 Speaker 1: coverage starting at seven pm. You're gonna be hearing from 522 00:27:20,240 --> 00:27:23,320 Speaker 1: Jody Schneider, Bloomberg Political news director, who is with us now, 523 00:27:23,359 --> 00:27:26,040 Speaker 1: along with Joe Crowley, of course, no stranger to New 524 00:27:26,080 --> 00:27:28,080 Speaker 1: York City, even if he didn't vote today, Former New 525 00:27:28,119 --> 00:27:31,600 Speaker 1: York Congressman Jody, you got big plans for tonight. This 526 00:27:31,680 --> 00:27:33,720 Speaker 1: is quite a big field and we don't even know 527 00:27:33,760 --> 00:27:38,080 Speaker 1: who's gonna win. That's right, Happy election Day, Joe both 528 00:27:38,160 --> 00:27:41,399 Speaker 1: chose how long will it be before we know? It 529 00:27:41,440 --> 00:27:44,720 Speaker 1: could be weeks. It really could be weeks because of 530 00:27:44,760 --> 00:27:47,960 Speaker 1: what we call ranked choice voting. This is really a 531 00:27:48,000 --> 00:27:51,400 Speaker 1: big test for ranked choice voting. UM. The most populous 532 00:27:51,400 --> 00:27:55,480 Speaker 1: city in the country. It's primary. It's not their general, 533 00:27:55,480 --> 00:27:58,440 Speaker 1: of course, but it's almost like a general in New 534 00:27:58,520 --> 00:28:01,960 Speaker 1: York because there's so many Democrats in the city about 535 00:28:02,000 --> 00:28:07,200 Speaker 1: three point two million registered Democrats and UM, they're going 536 00:28:07,280 --> 00:28:10,639 Speaker 1: to the polls to elect mayor and other things, people 537 00:28:10,680 --> 00:28:15,280 Speaker 1: to city council, people to UM for the Manhattan DA's race, 538 00:28:15,960 --> 00:28:19,080 Speaker 1: UH and the controller, but the mayor's race of course, 539 00:28:19,160 --> 00:28:22,520 Speaker 1: is where all the eyes are focused. And because of 540 00:28:22,640 --> 00:28:27,160 Speaker 1: ranked choice voting with thirteen candidates, uh, and no one 541 00:28:27,320 --> 00:28:30,040 Speaker 1: is expected to get more than fifty of the vote. 542 00:28:30,040 --> 00:28:34,040 Speaker 1: If someone does, just like in a regular election, uh, 543 00:28:34,080 --> 00:28:37,520 Speaker 1: you know, the plurality election, they would win. But because 544 00:28:37,600 --> 00:28:41,240 Speaker 1: that isn't expected, then becomes the process of figuring out 545 00:28:41,760 --> 00:28:45,520 Speaker 1: Uh there's because you vote for one, two, three, four, five, 546 00:28:45,680 --> 00:28:48,920 Speaker 1: fifth place, then they need to go figure out who 547 00:28:49,160 --> 00:28:52,360 Speaker 1: will be Uh you know, you have to tally up 548 00:28:52,360 --> 00:28:56,280 Speaker 1: all those numbers, and it's expected to take possibly weeks. Wait, 549 00:28:56,360 --> 00:28:58,920 Speaker 1: I'll tell you ranked choice voting. It's something that's being 550 00:28:58,960 --> 00:29:01,560 Speaker 1: tried and a lot of different parts of the country. 551 00:29:01,800 --> 00:29:04,080 Speaker 1: How's it gonna play in New York? Joe Crawley And 552 00:29:04,160 --> 00:29:07,760 Speaker 1: is this why we have such a big feel? Well, 553 00:29:07,880 --> 00:29:10,160 Speaker 1: you know, it's very interesting because I think the way 554 00:29:10,160 --> 00:29:13,520 Speaker 1: in which it used to be done was that, uh, 555 00:29:13,640 --> 00:29:16,360 Speaker 1: every everyone you know, participate in the primary and if 556 00:29:16,360 --> 00:29:20,000 Speaker 1: you didn't get or more, then we go to a 557 00:29:20,080 --> 00:29:23,640 Speaker 1: runoff with the top two candidates were then face off 558 00:29:23,680 --> 00:29:28,680 Speaker 1: against each other to get beyond the parality plurality and 559 00:29:28,720 --> 00:29:31,719 Speaker 1: get a majority. Uh. You know, I think the expectation 560 00:29:31,840 --> 00:29:34,800 Speaker 1: was that they might know a little sooner given ranked 561 00:29:34,880 --> 00:29:37,440 Speaker 1: choice voting, but that may not be the case. Um. 562 00:29:37,520 --> 00:29:40,600 Speaker 1: But um, you know, it's something new. It's been using 563 00:29:40,600 --> 00:29:43,160 Speaker 1: all the jurisdictions like San Francisco for instance, I know, 564 00:29:43,880 --> 00:29:45,760 Speaker 1: with mixed reviews, and I think it remains to be 565 00:29:45,880 --> 00:29:48,760 Speaker 1: seeing just how this all comes out and uh and 566 00:29:48,800 --> 00:29:51,480 Speaker 1: whether you know, people think it was fair enough. So 567 00:29:51,520 --> 00:29:54,120 Speaker 1: we'll waiting to think how's ranked choice voting going over 568 00:29:54,120 --> 00:29:57,960 Speaker 1: with actual voters, Jody, This stuff can be pretty confusing. Yeah, 569 00:29:58,000 --> 00:30:01,040 Speaker 1: I think, you know, supporters of the say it really 570 00:30:01,640 --> 00:30:05,680 Speaker 1: gives people more opportunity to influence who gets elected and 571 00:30:06,040 --> 00:30:09,280 Speaker 1: rewards those candidates who have broad appeal. That it's also 572 00:30:09,320 --> 00:30:13,000 Speaker 1: supposed to kind of stop negative voting and negative campaigning, 573 00:30:13,240 --> 00:30:15,720 Speaker 1: if you will. But we haven't necessarily seen that in 574 00:30:15,760 --> 00:30:18,600 Speaker 1: this race. It's it's gotten kind of nasty at times. 575 00:30:19,440 --> 00:30:22,600 Speaker 1: But it is confusing, and it's complicated, and people who 576 00:30:22,640 --> 00:30:25,240 Speaker 1: haven't really studied this or learned about it go to 577 00:30:25,240 --> 00:30:27,120 Speaker 1: the polls and all of a sudden, instead of just 578 00:30:27,280 --> 00:30:30,040 Speaker 1: voting the way they always have, uh, and they have 579 00:30:30,160 --> 00:30:33,280 Speaker 1: recently in the presidential election, for instance, now they're faced 580 00:30:33,320 --> 00:30:36,520 Speaker 1: with this complicated ballot and you know, when you have 581 00:30:36,640 --> 00:30:40,960 Speaker 1: thirteen candidates for mayor, Uh, it can be confusing. Um. 582 00:30:41,000 --> 00:30:43,480 Speaker 1: There's also the issue of does it hurt the ability 583 00:30:43,520 --> 00:30:46,440 Speaker 1: of black and Latino candidates to be seen as viable 584 00:30:46,720 --> 00:30:48,840 Speaker 1: and that's come up as an issue in this race 585 00:30:48,880 --> 00:30:51,680 Speaker 1: as well. Genie, She and Zano is still with us 586 00:30:51,720 --> 00:30:56,480 Speaker 1: as well, Bloomberg Politics contributor. Does this help the system here, Genie? 587 00:30:56,520 --> 00:30:59,120 Speaker 1: Are we going to confuse people away from voting? Well, 588 00:30:59,200 --> 00:31:01,520 Speaker 1: it's funny. I'm thrilled to be in the studio with 589 00:31:01,640 --> 00:31:03,560 Speaker 1: Jody here and we were just talking off the air 590 00:31:03,640 --> 00:31:06,600 Speaker 1: about an interview David Weston did earlier today where the 591 00:31:06,640 --> 00:31:08,320 Speaker 1: person he was talking to said he had to make 592 00:31:08,360 --> 00:31:12,360 Speaker 1: I think forty three choices on his ballot. So, you know, 593 00:31:12,440 --> 00:31:16,040 Speaker 1: when you talk about the arguments against this ranked choice voting, 594 00:31:16,240 --> 00:31:19,920 Speaker 1: the complexity, the amount we're asking of voters, those are 595 00:31:19,960 --> 00:31:22,800 Speaker 1: among the complaints, but of course there are positives as well. 596 00:31:22,880 --> 00:31:26,240 Speaker 1: It's also known as an instant runoff voting system, to 597 00:31:26,360 --> 00:31:28,960 Speaker 1: the extent that, as Joe Crowley was just saying, in 598 00:31:29,000 --> 00:31:31,840 Speaker 1: the past, you'd then have if nobody won, you'd have 599 00:31:31,920 --> 00:31:34,040 Speaker 1: to then have a runoff and ask voters to go 600 00:31:34,120 --> 00:31:36,880 Speaker 1: back to the polls. This way, you've saved them a 601 00:31:36,920 --> 00:31:40,160 Speaker 1: trip to the polls again. And of course, you know, 602 00:31:40,360 --> 00:31:44,440 Speaker 1: turnout is not very good in New York City traditionally. 603 00:31:44,800 --> 00:31:46,720 Speaker 1: I think in two thousand and thirteen we had about 604 00:31:46,720 --> 00:31:50,200 Speaker 1: seven hundred thousand people voted in the Democratic primary and 605 00:31:50,280 --> 00:31:53,080 Speaker 1: only like sixty thousand or the twelve percent in the 606 00:31:53,080 --> 00:31:55,760 Speaker 1: Republican Those are deplorable numbers in a city of eight 607 00:31:55,840 --> 00:31:58,440 Speaker 1: or nine million. So if we can use this to 608 00:31:58,480 --> 00:32:01,160 Speaker 1: get the numbers in terms of out higher, that would 609 00:32:01,200 --> 00:32:03,560 Speaker 1: be great. But of course early voting numbers, and Jody 610 00:32:03,600 --> 00:32:05,640 Speaker 1: can correct me if I'm wrong, suggest that it has 611 00:32:05,680 --> 00:32:08,960 Speaker 1: not been robust turnout yet. What do you think? Yeah, 612 00:32:09,000 --> 00:32:11,479 Speaker 1: I think that's right. And as j points out, you know, 613 00:32:11,560 --> 00:32:15,120 Speaker 1: there it's low voter turnout. Um, it's also you know, 614 00:32:15,160 --> 00:32:17,560 Speaker 1: it's a pandemic. It's been a pandemic. People have just 615 00:32:17,680 --> 00:32:21,000 Speaker 1: started getting out of their um, you know, homes and 616 00:32:21,000 --> 00:32:24,560 Speaker 1: and leaving their their sofas in the last few weeks 617 00:32:24,560 --> 00:32:26,560 Speaker 1: in New York and well the last few months, but 618 00:32:26,640 --> 00:32:29,600 Speaker 1: really the last few weeks since things have really opened up. 619 00:32:29,680 --> 00:32:32,240 Speaker 1: So I think that is also going to contribute to 620 00:32:32,280 --> 00:32:36,040 Speaker 1: what's expected to be relatively low voter turnout. This is 621 00:32:36,040 --> 00:32:38,560 Speaker 1: a race, or race is an election? A primary election 622 00:32:38,560 --> 00:32:40,800 Speaker 1: a better way to put it. It's getting national attention, Joe. 623 00:32:40,800 --> 00:32:43,120 Speaker 1: Probably is that because it's New York, because the media 624 00:32:43,200 --> 00:32:45,520 Speaker 1: is in New York, or because there's real interest in 625 00:32:45,640 --> 00:32:48,719 Speaker 1: ranked choice and as I mentioned, the most diverse fields 626 00:32:48,720 --> 00:32:52,480 Speaker 1: we've seen for mayor. I think it's a combination of things, 627 00:32:52,520 --> 00:32:56,320 Speaker 1: including the fact that you've seen maybe you know, factions 628 00:32:56,360 --> 00:33:02,520 Speaker 1: within the primaries themselves, candidates ending together to block necessary 629 00:33:02,560 --> 00:33:06,360 Speaker 1: admit potentially block someone from being elected mayor. Right now, 630 00:33:06,360 --> 00:33:09,760 Speaker 1: the primary focus studs to block Eric Adams won't wait 631 00:33:09,760 --> 00:33:11,880 Speaker 1: and see what happens. I think there's also an interest 632 00:33:11,920 --> 00:33:15,960 Speaker 1: because you know this this has the left peaked, has 633 00:33:16,320 --> 00:33:18,479 Speaker 1: the far left with the Democratic Party pick That's been 634 00:33:18,480 --> 00:33:21,160 Speaker 1: something that's been talked about and that may be reflective 635 00:33:21,200 --> 00:33:23,600 Speaker 1: here in terms of the city. And you know, the 636 00:33:23,640 --> 00:33:25,880 Speaker 1: city is not a microcosm of the country, it really 637 00:33:25,960 --> 00:33:29,480 Speaker 1: is not, but it can send some what's trending necessarily 638 00:33:29,480 --> 00:33:32,200 Speaker 1: in the Democratic Party, and I think that's where people 639 00:33:32,200 --> 00:33:34,720 Speaker 1: looking at at the primary itself. I think that there's also, 640 00:33:35,080 --> 00:33:37,160 Speaker 1: you know, interest in rain choice voting as well and 641 00:33:37,200 --> 00:33:39,840 Speaker 1: seeing how it works in the largest city in the country. 642 00:33:40,000 --> 00:33:42,760 Speaker 1: If it doesn't, Man's well, name some names here. Joe 643 00:33:42,840 --> 00:33:47,360 Speaker 1: just mentioned Eric Adams UH seen clearly as the front runner, 644 00:33:47,400 --> 00:33:49,880 Speaker 1: but a lot can change with ranked choice Jody, what 645 00:33:49,960 --> 00:33:53,120 Speaker 1: other names should we be looking at tonight? Yeah, the 646 00:33:53,160 --> 00:33:56,680 Speaker 1: Brooklyn Borough President Eric Adams has led poles going in. 647 00:33:57,120 --> 00:34:01,040 Speaker 1: But but again, given that with a ranked choice voting, 648 00:34:01,360 --> 00:34:03,960 Speaker 1: he is highly unlikely to get more than to get 649 00:34:03,960 --> 00:34:07,760 Speaker 1: that fifty. So Andrew Yang, the former presidential candidate who 650 00:34:07,760 --> 00:34:09,920 Speaker 1: has gotten a lot of press and was ahead in 651 00:34:09,960 --> 00:34:13,160 Speaker 1: the polls for a long time. Uh, and the sanitation 652 00:34:13,520 --> 00:34:18,040 Speaker 1: former city sanitation commissioner Katherine Garcia is expected to garner 653 00:34:18,080 --> 00:34:20,520 Speaker 1: a lot of votes as well. Maya Wiley, the civil 654 00:34:20,640 --> 00:34:24,320 Speaker 1: rights attorney who has been endorsed by UM some progressives, 655 00:34:25,120 --> 00:34:27,200 Speaker 1: has gotten a lot of attention of late as well. 656 00:34:27,600 --> 00:34:30,880 Speaker 1: Of course, the Democrat who wins this primary is heavily 657 00:34:30,920 --> 00:34:34,879 Speaker 1: expected to win in November, almost certainly expected to win 658 00:34:34,880 --> 00:34:37,560 Speaker 1: in November. Is there's so h you know such a 659 00:34:37,600 --> 00:34:41,920 Speaker 1: heavily democratic city, Genie, How does rank choice voting change 660 00:34:42,120 --> 00:34:45,239 Speaker 1: your style of campaigning? I'm assuming the message has to 661 00:34:45,400 --> 00:34:49,040 Speaker 1: change with the voting system. We saw a little bit 662 00:34:49,040 --> 00:34:51,160 Speaker 1: of this over the week. In the last few days 663 00:34:50,960 --> 00:34:53,600 Speaker 1: as as two of the candidates, Garcia and Yang sort 664 00:34:53,640 --> 00:34:57,120 Speaker 1: of teamed up together. Um, you know, they are sort 665 00:34:57,160 --> 00:34:59,600 Speaker 1: of on the moderate wing, you know, a little bit 666 00:34:59,640 --> 00:35:02,960 Speaker 1: behind mind um Eric Adams in the polls. They make 667 00:35:03,040 --> 00:35:06,080 Speaker 1: up that moderate wing maybe with with Raymond McGuire, And 668 00:35:06,239 --> 00:35:09,600 Speaker 1: they teamed up to campaign together, with Yang saying he 669 00:35:09,640 --> 00:35:13,000 Speaker 1: would put Garcia's second on his ballot. She didn't. She 670 00:35:13,040 --> 00:35:16,960 Speaker 1: didn't sort of reciprocate that promise, but they were She 671 00:35:17,000 --> 00:35:19,440 Speaker 1: did not, but they were giving out campaign material that 672 00:35:19,520 --> 00:35:21,920 Speaker 1: were campaigning together. So you know, the idea with ring 673 00:35:22,040 --> 00:35:24,000 Speaker 1: choice voting is that there's going to be less sort 674 00:35:24,040 --> 00:35:26,800 Speaker 1: of attacks on your opponents because you want to attract 675 00:35:26,920 --> 00:35:30,160 Speaker 1: people who to list you second or third um if 676 00:35:30,200 --> 00:35:32,399 Speaker 1: they have a favorite candidate. So I think we see 677 00:35:32,480 --> 00:35:35,440 Speaker 1: changes in styles of campaigning. But of course from that 678 00:35:35,480 --> 00:35:37,680 Speaker 1: we heard Eric Adams say that they were trying to 679 00:35:37,719 --> 00:35:40,680 Speaker 1: push out black and brown voters. So it's been a 680 00:35:40,800 --> 00:35:43,879 Speaker 1: very contentious last few days in this race. It sure 681 00:35:43,960 --> 00:35:46,040 Speaker 1: has I feel like Joe Crowley, we're getting ready to 682 00:35:46,080 --> 00:35:48,880 Speaker 1: cover the Iowa caucus. Here is who it's all about. 683 00:35:48,880 --> 00:35:53,760 Speaker 1: The second choice. Well, Iowa Caucus about the Cordfield maybe, 684 00:35:54,480 --> 00:35:59,920 Speaker 1: but aside it, there's no doubt that it's definitely you know, 685 00:36:00,680 --> 00:36:02,880 Speaker 1: people can still bullet vote, by the way, you know, 686 00:36:02,920 --> 00:36:05,480 Speaker 1: there's there's nothing prohibiting someone from just walking in and 687 00:36:05,560 --> 00:36:08,200 Speaker 1: voting for one candidate. Sure, I think that's also lost. 688 00:36:08,200 --> 00:36:10,879 Speaker 1: It may not be the way which the range choice 689 00:36:10,920 --> 00:36:13,120 Speaker 1: vote is supposed to work, but that's still an option 690 00:36:13,160 --> 00:36:16,080 Speaker 1: for folks as well. Let's say we're gonna have a 691 00:36:16,120 --> 00:36:18,239 Speaker 1: lot to learn. Jody starts seven o'clock. How long you 692 00:36:18,320 --> 00:36:20,600 Speaker 1: guys going You're gonna be on the air till July 693 00:36:21,320 --> 00:36:24,880 Speaker 1: That's what it's gonna feel like. It will seven to eleven, 694 00:36:24,960 --> 00:36:27,000 Speaker 1: But please tune in. It's gonna be a lot of fun. 695 00:36:27,080 --> 00:36:29,200 Speaker 1: Jeanie's gonna be here. We're gonna have a lot of fun. Yeah, 696 00:36:29,200 --> 00:36:30,920 Speaker 1: who else are you gonna have on the internet. So 697 00:36:30,920 --> 00:36:35,240 Speaker 1: we're gonna have a number of Bloomberg News uh contributors 698 00:36:35,719 --> 00:36:39,719 Speaker 1: and uh maybe some surprise guests, so too, it's going 699 00:36:39,760 --> 00:36:42,680 Speaker 1: to be like that. Yeah, well, tune in at seven obviously, 700 00:36:42,760 --> 00:36:45,239 Speaker 1: or stay right here it's only an hour away as 701 00:36:45,239 --> 00:36:47,680 Speaker 1: the voting continues, or they're just about to get that 702 00:36:47,760 --> 00:36:51,720 Speaker 1: to that point on the voting rights bill in the House. 703 00:36:51,719 --> 00:36:55,720 Speaker 1: Will keep an eye on that coming up here. Jody Schneider, 704 00:36:55,719 --> 00:36:59,040 Speaker 1: Bloomberg News Political Director, it's great to have you. Joe Crowley, 705 00:36:59,080 --> 00:37:01,040 Speaker 1: former New York Time when it's great to have you, 706 00:37:01,080 --> 00:37:03,719 Speaker 1: and of course Genie she and Szano. We're gonna be 707 00:37:03,719 --> 00:37:06,879 Speaker 1: listening to you throughout the night here in our special coverage. 708 00:37:07,080 --> 00:37:10,759 Speaker 1: We'll have more tomorrow on the vote here. As this 709 00:37:10,960 --> 00:37:14,920 Speaker 1: begins in the U. S. Senate, I should have said advancing, uh, 710 00:37:15,120 --> 00:37:18,759 Speaker 1: potentially this voting rights bill. Though, as we discussed a 711 00:37:18,800 --> 00:37:21,239 Speaker 1: little earlier in the broadcast, nobody sees the end of 712 00:37:21,280 --> 00:37:24,320 Speaker 1: the road on this one. Stay here. We'll check traffic 713 00:37:24,360 --> 00:37:26,520 Speaker 1: for you straight ahead, check the markets, and in one 714 00:37:26,560 --> 00:37:31,719 Speaker 1: hour special primary election coverage here on Bloomberg Radio, as 715 00:37:31,840 --> 00:37:35,520 Speaker 1: voters hit the polls in New York. I'm Joe Matthew, 716 00:37:35,680 --> 00:37:36,759 Speaker 1: and this is Bloomberg