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Speaker 1: News when you want it with Bloomberg News. Now, I'm

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Speaker 1: Doug Prisoner. There are five weeks left in Joe Biden's

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Speaker 1: term as president, and tonight he spoke to the Democratic

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Speaker 1: National Committee's holiday reception in Washington.

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Speaker 2: Have we left the country better shape than we found

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Speaker 2: it today? I can say without every fiber might be

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Speaker 2: of all my heart to answer that question as the

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Speaker 2: resounding yes.

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Speaker 1: Yes, that's President Biden speaking there. He went on to

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Speaker 1: thank the DNC, but he did not say goodbye to

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Speaker 1: public life. Americans living along parts of the East Coast

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Speaker 1: are likely to see more drones in the night sky,

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Speaker 1: but according to the Department of Homeland Security, there is

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Speaker 1: no evidence of foreign involvement or a national security risk.

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Speaker 1: Appearing on ABC's This Week, Secretary Alejandro Majorc has signaled

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Speaker 1: a stepped up response by the Biden administration to address

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Speaker 1: public concern.

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Speaker 3: If there is any reason for concern, if we identify

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Speaker 3: by any foreign involvement or criminal activity, we will communicate

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Speaker 3: with the American public.

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Speaker 1: Accordingly Alejandro Majorcus, the Secretary of the Department of Homeland Security. Now,

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Speaker 1: drone sightings have picked up in recent weeks, beginning in

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Speaker 1: New Jersey and spreading throughout the US northeast. Majorca suggested

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Speaker 1: a potential reason for the increase was an FAA decision

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Speaker 1: to allow nighttime drone flights. Hundreds are feared dead in

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Speaker 1: the French territory of Mayote in the Indian Ocean. The

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Speaker 1: series of islands known for tourism was battered on Saturday

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Speaker 1: by cyclone Chidoo. French Prime Minister Francoisse Roux says the

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Speaker 1: remote location is making relief efforts difficult the Susisi.

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Speaker 4: What matters isn't only the short term and the rescue

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Speaker 4: and help we can provide, but also the medium term

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Speaker 4: with a supply of water and food.

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Speaker 1: French Prime Minister Francoisse ma Roux, speaking through a translator

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Speaker 1: now Earlier on Sunday, France's Interior Ministry confirmed at least

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Speaker 1: eleven deaths and n more than two hundred and fifty injuries.

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Speaker 1: That figure, by the way, is expected to increase substantially.

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Speaker 1: Secretary of State Anthony Blincoln says the US has held

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Speaker 1: direct talks with the Islamist rebel group that took power

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Speaker 1: in Syria. It's Hayatarira al Sham, an offshoot of al Qaeda,

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Speaker 1: and the US has warned the group it could end

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Speaker 1: up isolated if it does not abide by principles laid

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Speaker 1: out by the US. Blinken spoke Saturday in Jordan on

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Speaker 1: the path forward for Syria. Meantime, in Damascus on Sunday,

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Speaker 1: some children went back to school, attending class for the

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Speaker 1: first time since the overthrow of the Asad regime. The

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Speaker 1: director of the World Food Program, Cindy McCain, spoke to

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Speaker 1: CBS Face the Nation about the need for aid in Syria.

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Speaker 5: Our delivery so far been very, very smooth, but we

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Speaker 5: need more delivery options open. More importantly, we have been

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Speaker 5: able to get seventy thousand people fed this month so far,

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Speaker 5: but we need more and more importantly, we need the

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Speaker 5: funds to do it.

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Speaker 1: Sendy McCain there, the head of the World Food Program.

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Speaker 1: We go to China next, where consumption unexpectedly slowed in

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Speaker 1: November as the effect of economic stimulus faded. Retail sales

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Speaker 1: rose three percent year over year, However, the estimate called

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Speaker 1: for an increase of five percent. We got reaction from

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Speaker 1: Joanna Chuah, head of Emerging market Economics at City Group

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Speaker 1: Global Markets.

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Speaker 4: This data really verifies the fact that the headmends for

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Speaker 4: consumpt consumers are still very, very high, notwithstanding a lot

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Speaker 4: of verbal rhetoric about supporting consumption which we got from

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Speaker 4: the Politbureau meeting and a Central Economic work conference. But

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Speaker 4: we really need to see actual consumption stimulus. I mean,

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Speaker 4: what do we have so far this year has been

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Speaker 4: very small, you know, targeted cash subsidies before the Golden

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Speaker 4: Week or even the consumer trading programs. I really expect

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Speaker 4: going into twenty twenty five, which we've already seen, the

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Speaker 4: signal that we should get a larger fiscal stimulus with

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Speaker 4: a composition much more skew towards consumption.

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Speaker 1: That's Joannachua of City Group Global Markets.

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Speaker 2: Now.

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Speaker 1: At the same time, in the month of November, industrial

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Speaker 1: output showed a modest improvement, rising by five point four

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Speaker 1: percent year over year. That figure was in line with estimates.

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Speaker 1: It's a critical week for financial markets, with several key

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Speaker 1: Central Bank decisions on tap. The FED meeting will wrap

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Speaker 1: on Wednesday. A quarter point cut is expected. I think

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Speaker 1: it's fair to say the bigger question is where the

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Speaker 1: FED goes from here.

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Speaker 3: Chair J.

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Speaker 1: Powell and other policymakers will likely consider the impact of

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Speaker 1: President elect Trump's economic policies as well as we understand

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Speaker 1: them at this point, and that may include tax cuts.

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Speaker 1: Here is former Trump economic advisor Gary Cohen speaking with

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Speaker 1: CBS Face the Nation.

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Speaker 6: We do know that taxes will be taken up by

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Speaker 6: this Congress in this session. We know that they're going

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Speaker 6: to have to deal with the personal side of the

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Speaker 6: equation because if not, the personal side will revert back

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Speaker 6: to the pre twenty seventeen tax code. I don't think

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Speaker 6: anyone wants I need to side the aisle wants to

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Speaker 6: go back to the prior tax code.

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Speaker 1: Gary Cohne there, former Trump economic advisor. Now, in terms

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Speaker 1: of economic data, we'll get the Fed's preferred measure of

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Speaker 1: under relying inflation on Friday, the November Personal Consumption Expenditures

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Speaker 1: price index. This would exclude food and energy. It will

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Speaker 1: probably be up about two tents of one percent. And

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Speaker 1: that is news when you want it. With Bloomberg News. Now,

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Speaker 1: I'm Doug Krisner and this is Bloomberg