1 00:00:00,120 --> 00:00:04,160 Speaker 1: Eighteen as Democrats be empower in the Republicans, President Trump 2 00:00:04,200 --> 00:00:06,680 Speaker 1: was secure to smash to inventional norms. I would rather 3 00:00:06,680 --> 00:00:09,440 Speaker 1: see a congressional solution. It's part of my DNA. This 4 00:00:10,039 --> 00:00:19,640 Speaker 1: is Bloomberg sound on on Bloomberg two. A plan to 5 00:00:19,840 --> 00:00:25,560 Speaker 1: reopen the economy. President Trump in just more than an hour, 6 00:00:26,160 --> 00:00:30,600 Speaker 1: his sets unbailed the guidelines that he wants to see 7 00:00:30,680 --> 00:00:37,000 Speaker 1: happen to reopen America's economy. Wow, that's where we're at, folks. 8 00:00:37,040 --> 00:00:38,600 Speaker 1: And let me tell you we have the best of 9 00:00:38,640 --> 00:00:41,760 Speaker 1: the best to guide us through this. Congressman Friendshill, Republican 10 00:00:41,760 --> 00:00:45,360 Speaker 1: from Arkansas, member of the all important House Financial Services Committee. Uh, 11 00:00:45,400 --> 00:00:48,080 Speaker 1: he's going to give us a behind the scenes look 12 00:00:48,280 --> 00:00:52,760 Speaker 1: at precisely what policymakers, lawmakers, governors, the president, what they're 13 00:00:52,800 --> 00:00:57,400 Speaker 1: all saying on the road map to reopening. Meanwhile, we're 14 00:00:57,400 --> 00:01:00,240 Speaker 1: also going to check in with the legendary Josh wind 15 00:01:00,240 --> 00:01:03,560 Speaker 1: Grove Bloomberg White House reporter. He's been at the White House. 16 00:01:03,560 --> 00:01:06,040 Speaker 1: He knows everything that's going on there. He's gonna give 17 00:01:06,120 --> 00:01:09,959 Speaker 1: us his take. Mattie Douppler returns to talk the bad, 18 00:01:10,080 --> 00:01:14,840 Speaker 1: bad bad economic jobs numbers and Hagar Shamali, CEO of 19 00:01:14,840 --> 00:01:19,039 Speaker 1: Grantwich Media Strategies and former Treasury spokesperson for Terrorism and 20 00:01:19,360 --> 00:01:22,400 Speaker 1: Financial Intelligence. Gonna be great to catch up with Agar 21 00:01:22,680 --> 00:01:26,440 Speaker 1: to piggyback off of our interviews and conversations from yesterday 22 00:01:26,440 --> 00:01:30,640 Speaker 1: with the legendary Gen Saki and equally as legendary Guy Snodgrass. 23 00:01:30,640 --> 00:01:35,520 Speaker 1: President Trump sees a downward trajectory in cases as a 24 00:01:35,640 --> 00:01:39,720 Speaker 1: key guideline for reopening a k A. Once you flatten 25 00:01:39,760 --> 00:01:43,080 Speaker 1: the curve, then you can talk about reopening. The governors 26 00:01:43,600 --> 00:01:47,560 Speaker 1: are facing a Trump inspired backlash to ease the virus rules, 27 00:01:48,200 --> 00:01:50,960 Speaker 1: and the CBO is saying that the stimulus will swell 28 00:01:51,040 --> 00:01:56,240 Speaker 1: the US budget gap by one point six trillion dollars. Wow, 29 00:01:56,440 --> 00:01:59,000 Speaker 1: so a lot to digest. Let's take it one step 30 00:01:59,000 --> 00:02:01,840 Speaker 1: at a time. Let's first start with President Trump at 31 00:02:02,000 --> 00:02:05,400 Speaker 1: six pm Eastern New York time, UH tonight, he's going 32 00:02:05,440 --> 00:02:08,400 Speaker 1: to announce some of the guidelines for reopening the economy. 33 00:02:08,480 --> 00:02:12,440 Speaker 1: You can listen to that right here, folks on Bloomberg FM. 34 00:02:12,520 --> 00:02:15,760 Speaker 1: Someone who has been following every twist and turn, been 35 00:02:15,760 --> 00:02:20,080 Speaker 1: talking with his constituents, been talking with his lawmakers as colleagues, 36 00:02:20,480 --> 00:02:22,760 Speaker 1: and the White House is Congressman Friends Hill, he's a 37 00:02:22,760 --> 00:02:26,000 Speaker 1: Republican from Arkansas. Good friend of the program. Congressman one, 38 00:02:26,120 --> 00:02:28,919 Speaker 1: thanks for being here too. What can we expect from 39 00:02:28,919 --> 00:02:33,240 Speaker 1: President Trump in an hour? Kevin, great to be with you. 40 00:02:33,400 --> 00:02:37,840 Speaker 1: I think he will talk about reopening using the governor's 41 00:02:37,880 --> 00:02:41,720 Speaker 1: best judgment. That will include testing, that will include a 42 00:02:41,800 --> 00:02:44,919 Speaker 1: decline in the peak in those states, and I think 43 00:02:44,960 --> 00:02:49,520 Speaker 1: you'll see that the accustomed to where you are, if 44 00:02:49,560 --> 00:02:52,280 Speaker 1: you're in a troubled hot spot in an urban, dense 45 00:02:52,360 --> 00:02:55,160 Speaker 1: urban area, it will be later in some place like 46 00:02:55,360 --> 00:02:59,880 Speaker 1: Arkansas where we have a less dense population and a 47 00:03:00,200 --> 00:03:04,600 Speaker 1: more stable number of cases. The Congressman friend Hills on 48 00:03:04,639 --> 00:03:07,000 Speaker 1: the line, he's a Republican from Arkansas. Let me follow 49 00:03:07,080 --> 00:03:08,200 Speaker 1: up on this. I mean, do you think one of 50 00:03:08,240 --> 00:03:10,440 Speaker 1: the lessons that we could learn from this is that 51 00:03:10,960 --> 00:03:14,000 Speaker 1: why did the entire country have to shut down? I mean, 52 00:03:14,080 --> 00:03:17,400 Speaker 1: why why couldn't Why couldn't we have followed the virus trail, 53 00:03:17,480 --> 00:03:20,480 Speaker 1: so to speak, and where it is that part shuts 54 00:03:20,480 --> 00:03:22,440 Speaker 1: down and the other parts stay open, and then when 55 00:03:22,440 --> 00:03:26,280 Speaker 1: it travels then those parts shutdown. Yeah, you know, this 56 00:03:26,360 --> 00:03:29,639 Speaker 1: is the approach Governor Hutcherson has taken here. In Arkansas, 57 00:03:29,680 --> 00:03:32,679 Speaker 1: and you look at Pennsylvania or Illinois, to name two 58 00:03:32,720 --> 00:03:36,160 Speaker 1: states that had a universal stay at home order, where 59 00:03:36,160 --> 00:03:40,400 Speaker 1: all businesses were closed by their governors, even in parts 60 00:03:40,400 --> 00:03:44,119 Speaker 1: of the state that weren't severely impacted. And I think 61 00:03:44,160 --> 00:03:47,600 Speaker 1: the approach Hutchisons has taken here in Arkansas using a 62 00:03:47,680 --> 00:03:54,560 Speaker 1: little bit more common sense. Of course, bars, restaurants, massage therapists, barbers, beauticians, 63 00:03:54,680 --> 00:03:58,120 Speaker 1: those were closed because of the close contact, but he 64 00:03:58,240 --> 00:04:02,560 Speaker 1: is attempted to be more moderate and a lot of 65 00:04:02,600 --> 00:04:07,720 Speaker 1: other businesses if they can follow the CDC guideline. It's 66 00:04:07,760 --> 00:04:09,760 Speaker 1: interesting and I think it's gonna mean we're gonna be 67 00:04:09,800 --> 00:04:12,440 Speaker 1: dissecting this thing state by state for for the rest 68 00:04:12,440 --> 00:04:15,800 Speaker 1: of my life. I mean, as this goes. So, I mean, 69 00:04:15,840 --> 00:04:17,400 Speaker 1: what do you think? I mean? Are we just you know, 70 00:04:17,600 --> 00:04:19,400 Speaker 1: based the question, We're gonna be back up by the 71 00:04:19,400 --> 00:04:25,640 Speaker 1: fourth of July. I'm looking forward to I'm gonna have 72 00:04:25,680 --> 00:04:29,760 Speaker 1: like five bacon double cheeseburgers. I'm gonna have I want fireworks, 73 00:04:29,800 --> 00:04:32,960 Speaker 1: and i want to be like previewing the Philadelphia Eagle season. 74 00:04:32,960 --> 00:04:35,760 Speaker 1: I'm sorry, I'm off on a tangent. Go ahead of Congress. No, no, no, 75 00:04:35,800 --> 00:04:42,640 Speaker 1: I'm I'm with you. I can put my beach towel down. So, 76 00:04:42,839 --> 00:04:45,000 Speaker 1: I mean, this next round of economic stimulus. Are are 77 00:04:45,040 --> 00:04:48,320 Speaker 1: you hearing from from UH, from Scalica's office and everyone 78 00:04:48,360 --> 00:04:50,600 Speaker 1: else first week of May? What what's going to be 79 00:04:50,640 --> 00:04:53,120 Speaker 1: involved in the stimulus? What are you hearing from your 80 00:04:53,120 --> 00:04:55,640 Speaker 1: constituents about what they want to see? Because a lot 81 00:04:55,680 --> 00:04:59,159 Speaker 1: of folks are worried that SBA is running out of cash. Well, 82 00:04:59,160 --> 00:05:01,520 Speaker 1: effective today, s b A is out of money in 83 00:05:01,560 --> 00:05:05,160 Speaker 1: the PPP program. They've stopped taking applications, and in the 84 00:05:05,240 --> 00:05:10,120 Speaker 1: emergency loan program. We appropriated money for their typical disaster 85 00:05:10,279 --> 00:05:13,520 Speaker 1: loan program. They announced today they can take no more 86 00:05:13,560 --> 00:05:17,719 Speaker 1: applications there. So this is what is infuriating. As we 87 00:05:18,000 --> 00:05:22,160 Speaker 1: talked today Thursday, that last Thursday, a week ago, Mitch 88 00:05:22,200 --> 00:05:27,000 Speaker 1: McConnell had a simple, straightforward effort to replenish the Paycheck 89 00:05:27,040 --> 00:05:30,800 Speaker 1: Protection Program by two and fifty billion, warning that it 90 00:05:30,880 --> 00:05:32,919 Speaker 1: could well be out of money by the end of 91 00:05:32,920 --> 00:05:36,599 Speaker 1: this week. That has unfortunately come true. And my small 92 00:05:36,640 --> 00:05:41,719 Speaker 1: businesses are outraged by being blocked for no substantive purpose. 93 00:05:42,640 --> 00:05:46,039 Speaker 1: That's crazy, I mean, and and and so because of 94 00:05:46,080 --> 00:05:49,400 Speaker 1: those problems that you just identified, how does that color 95 00:05:50,000 --> 00:05:54,559 Speaker 1: the next round of stimulus in the first week in May. No, Kevin, 96 00:05:54,600 --> 00:05:57,120 Speaker 1: this is you. You cover the White House, you cover capital. 97 00:05:57,360 --> 00:06:01,039 Speaker 1: You know this so well. And here's my frustration. Mrs 98 00:06:01,040 --> 00:06:05,680 Speaker 1: Pelosi is in front of her to dollar refrigerators on 99 00:06:05,720 --> 00:06:09,080 Speaker 1: a late night show talking about her chocolate collection. We 100 00:06:09,160 --> 00:06:13,599 Speaker 1: need her in Washington working with McConnell to replenish the 101 00:06:13,680 --> 00:06:16,360 Speaker 1: p P P plan and then look, if we need 102 00:06:16,480 --> 00:06:20,080 Speaker 1: more money for hospitals in two or three weeks, we 103 00:06:20,120 --> 00:06:24,240 Speaker 1: can assess that discreetly as well. But we just distributed 104 00:06:24,279 --> 00:06:27,240 Speaker 1: the first thirty billion of the over hundred billion dollars 105 00:06:27,279 --> 00:06:31,039 Speaker 1: we appropriated for hospitals. She's already asking for more. I 106 00:06:31,040 --> 00:06:33,400 Speaker 1: think it's premature. I'm going to rip up the script 107 00:06:33,480 --> 00:06:35,479 Speaker 1: to quote my good friend Tom Keane, who I chatted 108 00:06:35,520 --> 00:06:38,360 Speaker 1: with yesterday. You know, I gotta I gotta rip up 109 00:06:38,360 --> 00:06:41,360 Speaker 1: the script for a second because I gotta be candid here. 110 00:06:41,960 --> 00:06:44,719 Speaker 1: You know, I don't care if you vote virtually. I 111 00:06:44,720 --> 00:06:47,000 Speaker 1: don't care if you vote back in Washington, provided that 112 00:06:47,040 --> 00:06:49,279 Speaker 1: it's safe and within the CDC guidelines. But what you 113 00:06:49,400 --> 00:06:51,680 Speaker 1: just said, I tell I mean, you know where I 114 00:06:51,720 --> 00:06:54,640 Speaker 1: come from. I come from a politically diverse background, and 115 00:06:55,240 --> 00:06:58,000 Speaker 1: folks back home on all sides of the aisle are 116 00:06:58,480 --> 00:07:02,159 Speaker 1: angry that at not at you per se, but I 117 00:07:02,160 --> 00:07:06,440 Speaker 1: mean they're angry that Washington. It's crazy to me and 118 00:07:06,480 --> 00:07:08,440 Speaker 1: I think to a lot of people that there isn't 119 00:07:08,480 --> 00:07:11,239 Speaker 1: that that that it's that number one. There just doesn't 120 00:07:11,280 --> 00:07:13,760 Speaker 1: seem to be I don't want to say urgency but 121 00:07:13,840 --> 00:07:15,680 Speaker 1: that because that's the wrong word, because I think there is. 122 00:07:15,760 --> 00:07:19,720 Speaker 1: It's very real, but that Washington, that leadership in Congress 123 00:07:20,400 --> 00:07:23,960 Speaker 1: has has really respectfully just been dragging their feet, and 124 00:07:24,000 --> 00:07:26,840 Speaker 1: that maybe that's the perception, but that's the perception is 125 00:07:26,880 --> 00:07:30,440 Speaker 1: the reality, and I think you just identified that. I'll 126 00:07:30,440 --> 00:07:34,600 Speaker 1: tell you it just reinforces the stereotype that we have 127 00:07:34,840 --> 00:07:37,440 Speaker 1: of Congress, and it trustrates me to death because I 128 00:07:37,480 --> 00:07:40,559 Speaker 1: know and you know how many smart, hard working people 129 00:07:40,600 --> 00:07:43,720 Speaker 1: are in the House and Senate. Here we are being thwarted. 130 00:07:44,320 --> 00:07:49,080 Speaker 1: But really, honestly, Minority Leader Schumer and Speaker Pelosi from 131 00:07:49,120 --> 00:07:53,400 Speaker 1: a simple, straightforward fix that benefits kens of thousands of 132 00:07:53,400 --> 00:07:57,000 Speaker 1: Americans trying to we had five million more people hit 133 00:07:57,040 --> 00:08:00,120 Speaker 1: the unemployment jobless claim number for a total of eight 134 00:08:00,160 --> 00:08:02,360 Speaker 1: two million. What does it take to get her interested 135 00:08:02,400 --> 00:08:06,400 Speaker 1: in fixing this thirty million on appoint It's just I'm 136 00:08:06,440 --> 00:08:10,520 Speaker 1: with you, and it's I'm not making a a super 137 00:08:10,520 --> 00:08:13,840 Speaker 1: political comment. I'm making a power comment. We're talking about 138 00:08:13,920 --> 00:08:17,120 Speaker 1: chocolate on a late night comedy show when we should 139 00:08:17,120 --> 00:08:20,560 Speaker 1: be in DC fixing this problem, and just I mean 140 00:08:20,600 --> 00:08:23,920 Speaker 1: not to. You know, I've eaten all of my chocolate 141 00:08:23,960 --> 00:08:27,000 Speaker 1: from the Easter holiday because I've been stuck at home. Congressman, 142 00:08:27,040 --> 00:08:29,400 Speaker 1: do me a favor. Hang around so after the jump, 143 00:08:29,400 --> 00:08:31,400 Speaker 1: because I got a couple more questions for your Congressman. 144 00:08:31,480 --> 00:08:34,280 Speaker 1: French Hill, Republican from Arkansas coming up. We're gonna ask 145 00:08:34,320 --> 00:08:37,280 Speaker 1: him more about those unfortunate economic data numbers. I'm Kevin's 146 00:08:37,320 --> 00:08:39,720 Speaker 1: really You can download the Bloomberg Sound On podcast on 147 00:08:39,760 --> 00:08:42,199 Speaker 1: Apple iTunes, at Bloomberg dot com, or by downloading the 148 00:08:42,200 --> 00:08:44,760 Speaker 1: Bloomberg Business app. You can also find us on Radio 149 00:08:44,800 --> 00:08:48,360 Speaker 1: dot com, I Heart Radio, and Spotify. You can also 150 00:08:48,400 --> 00:08:51,559 Speaker 1: listen to the President's reopening the Economy guidelines right here 151 00:08:51,559 --> 00:08:54,640 Speaker 1: on Bloomberg One coming up in the next hour. You're 152 00:08:54,640 --> 00:09:08,000 Speaker 1: listening to Bloomberg. You're listening to Bloomberg Sound On with 153 00:09:08,080 --> 00:09:12,199 Speaker 1: Kevin sirelate on Bloomberg and One or five point seven 154 00:09:12,440 --> 00:09:16,440 Speaker 1: mh D two. I'm Kevin Cirilli, chief Washington correspondent for 155 00:09:16,440 --> 00:09:21,000 Speaker 1: Bloomberg Television, of Bloomberg Radio. Congressman French Hill, Republican from Arkansas, 156 00:09:21,200 --> 00:09:23,160 Speaker 1: still on the line. I got two more questions for 157 00:09:23,200 --> 00:09:25,960 Speaker 1: you before we uh, we bring in Josh Winger of 158 00:09:25,960 --> 00:09:28,000 Speaker 1: our our Bloomberg White House reporter. You've been so generous, 159 00:09:28,000 --> 00:09:32,360 Speaker 1: Congressman with your time. These job numbers I'm reading terrifying 160 00:09:32,640 --> 00:09:37,400 Speaker 1: reports on the Bloomberg terminal unemployment could be like what 161 00:09:37,520 --> 00:09:40,480 Speaker 1: are you? You're you come from the business world before 162 00:09:40,480 --> 00:09:43,079 Speaker 1: you join Congress? What are you? What do you make 163 00:09:43,120 --> 00:09:45,920 Speaker 1: of the economic data? Is it temporary? How long is 164 00:09:45,960 --> 00:09:49,960 Speaker 1: this going to last? And this anxiety that is so 165 00:09:50,040 --> 00:09:53,440 Speaker 1: real that people are feeling, this economic anxiety over job 166 00:09:53,520 --> 00:09:56,440 Speaker 1: security that people are feeling that is so real. Talk 167 00:09:56,520 --> 00:09:59,199 Speaker 1: to us from a business standpoint, but also from an 168 00:09:59,200 --> 00:10:04,200 Speaker 1: elected official standpoint about what you make of the economic data. Well, 169 00:10:04,240 --> 00:10:07,520 Speaker 1: I think it's stunning. It's the worst since the Great Depression. 170 00:10:07,800 --> 00:10:11,360 Speaker 1: It is temporary, and it will rebound, but it will 171 00:10:11,400 --> 00:10:16,200 Speaker 1: only rebound quickly if we have the kind of testing uh, 172 00:10:16,360 --> 00:10:20,520 Speaker 1: in my view, and consumer confidence to come back. So 173 00:10:20,640 --> 00:10:25,160 Speaker 1: I don't anticipate quite a sharp v except in a 174 00:10:25,240 --> 00:10:31,040 Speaker 1: few industries. I think our hospitality or retail, our food service, 175 00:10:31,120 --> 00:10:34,720 Speaker 1: our convention will be slow in coming back, but it 176 00:10:34,760 --> 00:10:36,560 Speaker 1: will come back, and I expect it will be back 177 00:10:36,720 --> 00:10:39,480 Speaker 1: nicely by the end of the year. But when you 178 00:10:39,559 --> 00:10:43,600 Speaker 1: combine the coronavirus attack on the economy and US shutting 179 00:10:43,600 --> 00:10:46,679 Speaker 1: it down as a government to stay public health, with 180 00:10:46,760 --> 00:10:49,120 Speaker 1: the impact in our oil and gas industry and the 181 00:10:49,160 --> 00:10:53,199 Speaker 1: related industries, we are in for a rough period. That's 182 00:10:53,200 --> 00:10:56,640 Speaker 1: why I'm glad Congress acted quickly. Now we just have 183 00:10:56,760 --> 00:10:59,360 Speaker 1: to make sure we implement it right. And I really 184 00:10:59,360 --> 00:11:02,160 Speaker 1: want to thank for as in Trump and Stephen Manuchin, 185 00:11:02,200 --> 00:11:06,560 Speaker 1: our Treasury secretary, for staying on point. And final question 186 00:11:06,640 --> 00:11:10,400 Speaker 1: for you is and and we've talked about this offline before, 187 00:11:11,040 --> 00:11:14,720 Speaker 1: what does this mean from a US China perspective, not 188 00:11:14,880 --> 00:11:18,560 Speaker 1: just from from from US and China and those two 189 00:11:19,120 --> 00:11:23,640 Speaker 1: and and not bilateral relationship, but also how we interact 190 00:11:23,679 --> 00:11:27,920 Speaker 1: with other counterparts around the world in relation to China 191 00:11:28,520 --> 00:11:33,080 Speaker 1: as this continues to evolve. I think China's credibility on 192 00:11:33,160 --> 00:11:36,760 Speaker 1: the trade front has been damaged over the last three decades, 193 00:11:36,880 --> 00:11:40,040 Speaker 1: but particularly the last three years and now China's credibility 194 00:11:40,080 --> 00:11:42,720 Speaker 1: as someone who's trying to step up their presence on 195 00:11:42,760 --> 00:11:47,360 Speaker 1: the global stage by misleading their own people terribly in 196 00:11:47,480 --> 00:11:51,480 Speaker 1: Hong Kong and over the coronavirus. So China has a 197 00:11:51,520 --> 00:11:54,120 Speaker 1: black eye. I think it's going to affect their international 198 00:11:54,160 --> 00:11:57,960 Speaker 1: relations for years to come. Congressman friend Shill always appreciate 199 00:11:58,040 --> 00:12:00,920 Speaker 1: the time, and I look forward to So the fourth 200 00:12:00,920 --> 00:12:04,200 Speaker 1: of July a socially distance fourth of July. Thank you. 201 00:12:04,200 --> 00:12:08,200 Speaker 1: That's Congress been French of everybody, a Republican from Arkansas. 202 00:12:08,480 --> 00:12:10,680 Speaker 1: And again, folks, if you're just joining us at six 203 00:12:10,720 --> 00:12:12,960 Speaker 1: pm Eastern New York time, but there's going to be 204 00:12:13,000 --> 00:12:16,000 Speaker 1: the President's going to have his daily Coronavirus task Force 205 00:12:16,080 --> 00:12:18,720 Speaker 1: breaking and he's gonna lay out the guidelines for reopening 206 00:12:18,800 --> 00:12:23,800 Speaker 1: the economy. UM. I want to bring in our Bloomberg 207 00:12:23,840 --> 00:12:26,680 Speaker 1: White House reporter, Josh wing Grove. If we have Josh 208 00:12:26,720 --> 00:12:28,920 Speaker 1: wing Grove on the line, I believe we're getting Josh. 209 00:12:29,000 --> 00:12:33,280 Speaker 1: You there, I'm here, Hello, Hello, Hello. First of all, 210 00:12:33,360 --> 00:12:37,040 Speaker 1: congratulations and great work and great reporting. You guys have 211 00:12:37,160 --> 00:12:41,800 Speaker 1: just been absolutely crushing excuse me, crushing it on the 212 00:12:41,840 --> 00:12:44,800 Speaker 1: White House beat. And UM, keeping everybody informed and so 213 00:12:45,000 --> 00:12:47,559 Speaker 1: congratulations on and keep up the good work. So thank you, 214 00:12:47,920 --> 00:12:50,559 Speaker 1: our gratitude to you and to the entire team. What 215 00:12:50,679 --> 00:12:53,280 Speaker 1: are we expect from President Trump on the guidelines to 216 00:12:53,320 --> 00:12:56,360 Speaker 1: reopen the economy and how much had the governors played 217 00:12:56,400 --> 00:12:59,480 Speaker 1: into this plan? Well, yeah, thank you, And I should 218 00:12:59,480 --> 00:13:02,079 Speaker 1: say our credit goes to my colleague Jennifer Jacobs on 219 00:13:02,200 --> 00:13:06,840 Speaker 1: getting this plan before he releases it. And essentially it's 220 00:13:06,880 --> 00:13:11,040 Speaker 1: a roadmap that hunts a lot of responsibility to both 221 00:13:11,840 --> 00:13:14,520 Speaker 1: excuse me, governors as well as business leaders. I mean 222 00:13:14,559 --> 00:13:16,559 Speaker 1: it leaves a lot of the decision making up to them. 223 00:13:17,600 --> 00:13:21,280 Speaker 1: Essentially leads out three phases that states can go through 224 00:13:21,480 --> 00:13:24,480 Speaker 1: or I suppose county by county if they want, uh. 225 00:13:24,559 --> 00:13:26,800 Speaker 1: And you know, as you sort of go two week 226 00:13:26,920 --> 00:13:31,320 Speaker 1: periods without you know, new outbreaks essentially or hitting certain 227 00:13:31,440 --> 00:13:34,320 Speaker 1: metrics on how the virus is looking in your state, 228 00:13:34,720 --> 00:13:37,360 Speaker 1: you can take the step to the next phase. And 229 00:13:37,840 --> 00:13:41,320 Speaker 1: you know, conceivably this means that places could start doing 230 00:13:41,400 --> 00:13:44,839 Speaker 1: that pretty quickly. You could conceivably start moving towards more 231 00:13:45,280 --> 00:13:48,360 Speaker 1: normal life if you will, uh, you know, within days, 232 00:13:48,840 --> 00:13:51,800 Speaker 1: and if you really fast track and didn't have new outbreaks, 233 00:13:52,520 --> 00:13:55,120 Speaker 1: but again mostly up to each state to determine their 234 00:13:55,120 --> 00:13:58,280 Speaker 1: own metrics. Then four weeks from now, you can popill 235 00:13:58,320 --> 00:14:01,040 Speaker 1: be something that actually looks like normal life with you know, 236 00:14:01,160 --> 00:14:04,320 Speaker 1: Jim's open bars, open movie theaters, open that kind of thing. Now, 237 00:14:04,360 --> 00:14:06,120 Speaker 1: of course, the flip side of this, the reason that 238 00:14:06,480 --> 00:14:09,559 Speaker 1: Democrats in particular, we're cautioning the President on their call today, 239 00:14:10,000 --> 00:14:12,520 Speaker 1: is that we don't have really the testing capacity to 240 00:14:12,559 --> 00:14:15,400 Speaker 1: guarantee that flare ups will be caught quickly, and so 241 00:14:15,520 --> 00:14:18,719 Speaker 1: we're risking second waves coming out. So the risk of 242 00:14:18,760 --> 00:14:20,680 Speaker 1: the second wave, and that's really the whole argument. How 243 00:14:20,680 --> 00:14:22,920 Speaker 1: do you balance public health with economic health, and how 244 00:14:22,960 --> 00:14:25,960 Speaker 1: do you balance reopening with making sure that there's no outbreaks. 245 00:14:26,040 --> 00:14:28,720 Speaker 1: Josh wind Groves on the line. He's Bloomberg's White House reporter. 246 00:14:29,120 --> 00:14:30,920 Speaker 1: He's walking us through a preview of what we're gonna 247 00:14:30,960 --> 00:14:34,680 Speaker 1: hear from President Trump our democrats. I hear what you're 248 00:14:34,680 --> 00:14:37,440 Speaker 1: saying about democrats, but I also have talked to folks 249 00:14:37,760 --> 00:14:40,760 Speaker 1: who are Democrats who are saying they're also facing pressure 250 00:14:40,800 --> 00:14:44,560 Speaker 1: to reopen the economy. Is that message breaking through all 251 00:14:44,640 --> 00:14:46,200 Speaker 1: politics is local and if you're in a part of 252 00:14:46,240 --> 00:14:48,520 Speaker 1: the country where there hasn't been a hot pocket our 253 00:14:48,600 --> 00:14:53,000 Speaker 1: hot spot. Um, then you know you're feeling pressure to 254 00:14:53,080 --> 00:14:57,240 Speaker 1: reopen the economy. Are you hearing that from Dems? Oh? Yeah, absolutely, 255 00:14:57,280 --> 00:14:59,240 Speaker 1: I mean they're all under pressure. You know, we've I 256 00:14:59,320 --> 00:15:01,800 Speaker 1: think I think did the pressure has been building more 257 00:15:02,840 --> 00:15:06,280 Speaker 1: on Republicans than Democrats personally, like we've seen. You know, 258 00:15:06,400 --> 00:15:08,960 Speaker 1: there was this protest of course this week in Michigan 259 00:15:09,440 --> 00:15:13,120 Speaker 1: which some conservative groups pushing back against restricts in this 260 00:15:13,160 --> 00:15:15,200 Speaker 1: place by the Democratic governor. Of course, she is a 261 00:15:15,240 --> 00:15:18,840 Speaker 1: potential running mate of Joe Biden, so you know there's 262 00:15:18,840 --> 00:15:21,440 Speaker 1: a bit of a dynamic is there as well. But 263 00:15:21,600 --> 00:15:24,400 Speaker 1: you know, of course people are frustrated. People are going 264 00:15:24,480 --> 00:15:26,400 Speaker 1: loopy at home. I mean I'm going to loopy at home. 265 00:15:26,480 --> 00:15:30,120 Speaker 1: You know Josh is going loopy at home. Oh yeah, Josh, 266 00:15:30,200 --> 00:15:31,920 Speaker 1: hanging there, buddy. We need you at the White House. 267 00:15:34,400 --> 00:15:38,400 Speaker 1: I think my one of my peak Corona rock Bottom 268 00:15:38,480 --> 00:15:41,160 Speaker 1: moments was the amount of Easter candy that I consumed 269 00:15:41,240 --> 00:15:43,560 Speaker 1: in a very short period of time. I was like, 270 00:15:43,640 --> 00:15:46,560 Speaker 1: why is all my Easter candy disappearing? Well, it's literally 271 00:15:46,640 --> 00:15:49,280 Speaker 1: because Kevin, You've just been eating it all day. Go ahead, 272 00:15:49,360 --> 00:15:55,960 Speaker 1: Josh and it's been no judgment, blood judgment freezer. Do 273 00:15:56,000 --> 00:15:59,360 Speaker 1: you let everybody go ahead? So I don't know, like 274 00:15:59,560 --> 00:16:02,680 Speaker 1: they are their pressure. But what we're seeing in other 275 00:16:02,800 --> 00:16:05,920 Speaker 1: places like Singapore for instances that if you move too quickly, 276 00:16:05,960 --> 00:16:08,280 Speaker 1: you end up having to snap back and sort of 277 00:16:08,400 --> 00:16:11,160 Speaker 1: re shut down. And that is the worst case scenario, 278 00:16:11,280 --> 00:16:13,080 Speaker 1: and the president of the SULFICE said that he's worried 279 00:16:13,080 --> 00:16:16,240 Speaker 1: about that. I mean, it's obviously a potential reality. So 280 00:16:16,360 --> 00:16:18,360 Speaker 1: this is going to come down to how quickly we 281 00:16:18,440 --> 00:16:22,560 Speaker 1: can get testing capacity increase, and I mean, like by 282 00:16:22,600 --> 00:16:25,200 Speaker 1: a fact, you know, a big increase, like where something 283 00:16:25,200 --> 00:16:26,840 Speaker 1: like a hundred fifty thousand we should be like in 284 00:16:26,840 --> 00:16:30,280 Speaker 1: a million tests today kind of capacity and different kinds 285 00:16:30,360 --> 00:16:34,080 Speaker 1: of tests, including anybody testing, which we don't have. And 286 00:16:34,160 --> 00:16:37,160 Speaker 1: the reason at least in wide uh you know, circulation, 287 00:16:37,200 --> 00:16:39,640 Speaker 1: and the reason that's important is that you could say, like, oh, 288 00:16:39,840 --> 00:16:43,040 Speaker 1: my workers, have any bodies there, they can come back 289 00:16:43,080 --> 00:16:45,520 Speaker 1: to work paper covers, they're not as vulnerable, and we 290 00:16:45,640 --> 00:16:48,760 Speaker 1: just simply don't have that. In Amazing reporting, Joshua Grove, 291 00:16:48,760 --> 00:16:51,400 Speaker 1: everybody Boomberg White House reporter coming up next to Mattie Duppler. 292 00:16:51,680 --> 00:16:54,800 Speaker 1: I'm Kevin CURRELLI Chief Washington correspondent for Woomberg Television of 293 00:16:54,800 --> 00:17:05,159 Speaker 1: Boomberg Radio, and you are listening to Woomberg, you're listening 294 00:17:05,280 --> 00:17:09,800 Speaker 1: to Bloomberg Sound On with Kevin Sile on Bloomberg and 295 00:17:09,960 --> 00:17:14,399 Speaker 1: one oh five point h D two. Yesterday, when I 296 00:17:14,560 --> 00:17:17,640 Speaker 1: was talking with Jen Psaki, I told everybody about dog 297 00:17:17,920 --> 00:17:21,119 Speaker 1: Tag Bakery and Georgetown, which is one of my favorite 298 00:17:21,160 --> 00:17:26,000 Speaker 1: coffee shops in the district. Dog Tag Bakery helps veterans 299 00:17:26,080 --> 00:17:30,360 Speaker 1: and their families and provides financial literacy for their families. 300 00:17:30,520 --> 00:17:32,760 Speaker 1: And I forgot to mention that you can actually go 301 00:17:32,880 --> 00:17:36,280 Speaker 1: online to dog Tag Bakery's website and order a care 302 00:17:36,359 --> 00:17:40,080 Speaker 1: package and you're supporting that's uh and financial literacy two 303 00:17:40,119 --> 00:17:42,879 Speaker 1: things that I love. But also, I mean, just truthfully, 304 00:17:43,000 --> 00:17:47,600 Speaker 1: the food there is incredible. I mean, I gotta be honest, folks, incredible. 305 00:17:47,680 --> 00:17:51,840 Speaker 1: Just go to dog Tag Bakery dot com and uh yeah, 306 00:17:52,040 --> 00:17:54,840 Speaker 1: it's an amazing cause, one of my favorite coffee shops 307 00:17:55,240 --> 00:17:58,560 Speaker 1: and really best place to go to. Brownie um joining 308 00:17:58,640 --> 00:18:01,480 Speaker 1: us on the line, who I think shares my love 309 00:18:01,560 --> 00:18:04,760 Speaker 1: of dog Tag Bakery is Maddie Tuppler. Maddie Tuppler is 310 00:18:05,280 --> 00:18:09,879 Speaker 1: the do you like dog Tech, love dog Tag love 311 00:18:09,960 --> 00:18:14,000 Speaker 1: Compass Coffee as well, my two favorite DC coffee joints. Yeah, 312 00:18:14,119 --> 00:18:19,520 Speaker 1: okay to shake And I didn't know Compass, I did 313 00:18:19,680 --> 00:18:22,120 Speaker 1: no Compass. Was that was veterans. I think you told 314 00:18:22,119 --> 00:18:24,480 Speaker 1: me that. I think we actually I'm having DEJAVIU. I didn't. 315 00:18:24,520 --> 00:18:26,560 Speaker 1: I didn't know that, but I forgot that. So always 316 00:18:26,720 --> 00:18:30,080 Speaker 1: love supporting small businesses and of course supporting our vets. 317 00:18:30,119 --> 00:18:33,919 Speaker 1: Maddie Duppler is back. She is the founder of Forward Strategies, 318 00:18:34,080 --> 00:18:37,000 Speaker 1: senior fellow at the National Taxpayers Union, and former Coalitions 319 00:18:37,040 --> 00:18:41,919 Speaker 1: director for the House Republican Conference. Maddie, I gotta be honest. 320 00:18:42,040 --> 00:18:44,760 Speaker 1: I was talking about this with Congressman Friendshill. I look 321 00:18:44,800 --> 00:18:48,000 Speaker 1: at these the eco indicators and the jobless numbers and 322 00:18:48,080 --> 00:18:52,880 Speaker 1: the unemployment numbers. I don't like it, Maddie. It's it's bad. 323 00:18:53,200 --> 00:18:56,399 Speaker 1: It's bad, bad, bad, Or is it all Duman gloom 324 00:18:56,560 --> 00:19:00,359 Speaker 1: or are you seeing any signs of of like? All right, Tall, 325 00:19:00,400 --> 00:19:05,720 Speaker 1: you know me, I am the eternal optimists. The data 326 00:19:05,760 --> 00:19:08,080 Speaker 1: has been roughed this week, It truly has been. But 327 00:19:08,560 --> 00:19:12,280 Speaker 1: here's the deal. When we're looking at the economic destruction 328 00:19:12,320 --> 00:19:15,320 Speaker 1: that's happening right now we know exactly why it's happening. 329 00:19:15,400 --> 00:19:17,399 Speaker 1: And I feel the need to repeat that because we 330 00:19:17,520 --> 00:19:21,159 Speaker 1: see a lot of ink being filled about comparing this 331 00:19:21,400 --> 00:19:25,960 Speaker 1: downturn to two nine. We don't have the systemic failures 332 00:19:26,080 --> 00:19:28,960 Speaker 1: that we had in two tho nine. That's that's point 333 00:19:29,080 --> 00:19:30,960 Speaker 1: number one that I think gets lost when we hear 334 00:19:31,000 --> 00:19:34,920 Speaker 1: those comparisons. But secondly, we also know the cause of 335 00:19:35,040 --> 00:19:38,600 Speaker 1: what's happening and why they're economic consequences to this destruction now, 336 00:19:38,720 --> 00:19:41,480 Speaker 1: which means when we have a plan in place, we 337 00:19:41,640 --> 00:19:43,960 Speaker 1: know we can put a plan in place, so we 338 00:19:44,119 --> 00:19:46,720 Speaker 1: know kind of framework for how we can come back 339 00:19:46,800 --> 00:19:49,440 Speaker 1: from that. So you know, it's not surprising to me 340 00:19:49,720 --> 00:19:53,000 Speaker 1: that we continue to see really bleak unemployment. Dat I've 341 00:19:53,040 --> 00:19:55,760 Speaker 1: given that we basically canceled the economy. I mean, that's 342 00:19:55,840 --> 00:19:58,480 Speaker 1: the that's the consequence of doing that. Now. These are 343 00:19:58,520 --> 00:20:02,240 Speaker 1: people who are who need need to rely on employment 344 00:20:02,280 --> 00:20:04,680 Speaker 1: insurance now to see their rents, to pay their mortgage, 345 00:20:04,720 --> 00:20:07,000 Speaker 1: to get their groceries. And those are real life stories 346 00:20:07,040 --> 00:20:08,520 Speaker 1: that we need to pay attention to. They're not just 347 00:20:08,680 --> 00:20:11,159 Speaker 1: numbers on a page. But I do think having that 348 00:20:11,320 --> 00:20:14,600 Speaker 1: context is important because look at what's also happening in 349 00:20:14,640 --> 00:20:16,520 Speaker 1: the stock market. The stock market, I think kind of 350 00:20:16,640 --> 00:20:19,800 Speaker 1: gets what's going on a little bit more than maybe 351 00:20:19,880 --> 00:20:22,960 Speaker 1: politicians do, because the stock market the last two days 352 00:20:23,080 --> 00:20:26,720 Speaker 1: has looked really, really hopeful, and it's because we've heard 353 00:20:26,840 --> 00:20:29,360 Speaker 1: from the administration that there's going to be a plan 354 00:20:29,440 --> 00:20:31,960 Speaker 1: in place to confront the public health crisis and move 355 00:20:32,080 --> 00:20:37,160 Speaker 1: past it. I'm so glad you go ahead. I'm gonna 356 00:20:37,160 --> 00:20:40,119 Speaker 1: say that I think that that shows that there's a 357 00:20:40,160 --> 00:20:44,440 Speaker 1: recognition that the economic consequences are just that they are 358 00:20:44,880 --> 00:20:47,680 Speaker 1: the affects of the real challenge here, which is the 359 00:20:47,760 --> 00:20:52,480 Speaker 1: public health challenge of coronavirus. You know, I'm so glad 360 00:20:52,520 --> 00:20:54,680 Speaker 1: you brought up the issue of the stock market because 361 00:20:54,720 --> 00:20:57,560 Speaker 1: I struggled with this as a journalist and and I'm 362 00:20:57,600 --> 00:21:00,600 Speaker 1: gonna be really honest right now, I've really be struggled 363 00:21:00,640 --> 00:21:02,920 Speaker 1: with this, especially over the last few weeks, to see 364 00:21:03,280 --> 00:21:06,720 Speaker 1: the positive developments coming from the street, but the negative 365 00:21:06,760 --> 00:21:09,480 Speaker 1: impacts that are being felt on main street and from 366 00:21:09,600 --> 00:21:12,520 Speaker 1: small business owners. And I I hear you on the 367 00:21:12,560 --> 00:21:15,040 Speaker 1: point that you're making that policymakers are a bit more 368 00:21:15,119 --> 00:21:17,280 Speaker 1: are are a bit more out of touch. Uh then, 369 00:21:17,920 --> 00:21:20,960 Speaker 1: and I get that investors are seeing things that are different. 370 00:21:21,320 --> 00:21:23,119 Speaker 1: But who can work from this is this is what 371 00:21:23,200 --> 00:21:26,120 Speaker 1: I struggle with, So help me. Investors can work from home, 372 00:21:26,480 --> 00:21:30,240 Speaker 1: Investors can train online, investors can move money and not 373 00:21:30,440 --> 00:21:33,720 Speaker 1: have to go you know, leave their their their screen. 374 00:21:34,320 --> 00:21:39,840 Speaker 1: So it it really I guess what more can policymakers do, 375 00:21:40,000 --> 00:21:43,720 Speaker 1: Maddie Duppler and the conversations that you have with your counterparts, 376 00:21:44,480 --> 00:21:48,560 Speaker 1: what more can policymakers do to cater some of the relief, 377 00:21:49,160 --> 00:21:53,040 Speaker 1: not just through helicopter cash, but through incentives that would 378 00:21:53,080 --> 00:21:55,560 Speaker 1: allow Main Street to not be able to be pummeled 379 00:21:55,680 --> 00:21:59,679 Speaker 1: so hard? Right Ill, Like I have been saying all along, 380 00:22:00,000 --> 00:22:03,679 Speaker 1: efforts that keep workers connected to their employer are essential 381 00:22:03,800 --> 00:22:06,960 Speaker 1: for a couple of reasons. One that the efforts that 382 00:22:07,240 --> 00:22:10,920 Speaker 1: keep employee employees connected to their employers. What do you 383 00:22:10,960 --> 00:22:13,480 Speaker 1: mean by that? So that what I mean by that 384 00:22:13,560 --> 00:22:16,840 Speaker 1: are things like this PPP loan program through the SPA 385 00:22:17,000 --> 00:22:21,080 Speaker 1: that allows businesses to keep their workers on payroll and 386 00:22:21,240 --> 00:22:24,399 Speaker 1: pay them as they weather the effects of their coronavirus. 387 00:22:24,440 --> 00:22:27,159 Speaker 1: And this is why it is essential. It's essential we 388 00:22:27,240 --> 00:22:29,480 Speaker 1: look at what's happening unemployment claims and we know that 389 00:22:29,560 --> 00:22:31,840 Speaker 1: the system is overwhelmed. So we already know that people 390 00:22:31,880 --> 00:22:34,000 Speaker 1: who need who have already lost their jobs and need 391 00:22:34,040 --> 00:22:36,680 Speaker 1: those unemployment benefits, aren't able to access them for a 392 00:22:37,119 --> 00:22:39,280 Speaker 1: myriad of problems that we have with some of these states, 393 00:22:39,600 --> 00:22:42,760 Speaker 1: with some of these state systems. Secondly, when you think 394 00:22:43,200 --> 00:22:45,080 Speaker 1: for a couple of weeks, a couple of months, what 395 00:22:45,359 --> 00:22:48,480 Speaker 1: we need is the ability to get this economy back 396 00:22:48,560 --> 00:22:52,240 Speaker 1: online once the virus threat has abated. The easiest and 397 00:22:52,359 --> 00:22:54,040 Speaker 1: best way to do that is to make sure that 398 00:22:54,080 --> 00:22:57,480 Speaker 1: you have employees that you can activate immediately. If these 399 00:22:57,840 --> 00:23:01,280 Speaker 1: if these businesses have to lay off all of their workers, 400 00:23:01,560 --> 00:23:03,440 Speaker 1: that it is a huge strain on their resources to 401 00:23:03,520 --> 00:23:06,800 Speaker 1: try to find higher and then retrain a whole new 402 00:23:06,880 --> 00:23:09,239 Speaker 1: workforce over the course of a couple of weeks when 403 00:23:09,280 --> 00:23:11,639 Speaker 1: they're trying to get back online and make up for 404 00:23:11,960 --> 00:23:15,159 Speaker 1: months of lost time. So something like the PPC program 405 00:23:15,280 --> 00:23:17,480 Speaker 1: I always thought was the best way to try, because 406 00:23:17,560 --> 00:23:19,159 Speaker 1: essentially what you're doing is you're pushing pause on the 407 00:23:19,240 --> 00:23:22,280 Speaker 1: economy and you're trying to hold as many businesses and 408 00:23:22,400 --> 00:23:25,639 Speaker 1: thus as many workers harmless. As we waved through the 409 00:23:25,720 --> 00:23:29,080 Speaker 1: economic effects of the coronavirus and the things we've had 410 00:23:29,160 --> 00:23:31,520 Speaker 1: to do in order to contain the virus itself. So 411 00:23:31,840 --> 00:23:35,240 Speaker 1: what policymakers need to do, Kevin, They need to get 412 00:23:35,320 --> 00:23:37,880 Speaker 1: their heads out of there, you know what, and resill 413 00:23:37,920 --> 00:23:40,280 Speaker 1: the loan program because it ran out of money this morning. 414 00:23:41,280 --> 00:23:45,720 Speaker 1: That to me, so I can't even to me and 415 00:23:45,920 --> 00:23:49,000 Speaker 1: I want to. I know, I'm it's whether you're a 416 00:23:49,000 --> 00:23:51,359 Speaker 1: Republican or Democrat. That to me that that how is 417 00:23:51,440 --> 00:23:55,080 Speaker 1: that you? You're the leader of the of the Republican Coalitions, 418 00:23:55,160 --> 00:23:58,320 Speaker 1: former coalitions director for the House Republican Conference. How does 419 00:23:58,760 --> 00:24:01,879 Speaker 1: I'm not blaming you, how does something like that? But 420 00:24:02,000 --> 00:24:05,000 Speaker 1: but seriously, like, don't get let's get away from partisan 421 00:24:05,080 --> 00:24:08,960 Speaker 1: talking points just for a second. How does that something 422 00:24:09,080 --> 00:24:14,679 Speaker 1: like that even happen in a national emergency? I agree 423 00:24:14,760 --> 00:24:18,359 Speaker 1: with you, I'm not but let let me tell you. 424 00:24:18,480 --> 00:24:20,280 Speaker 1: Let me tell you what's going on right now. I 425 00:24:20,440 --> 00:24:24,080 Speaker 1: think that we have I don't want to pay him 426 00:24:24,080 --> 00:24:25,760 Speaker 1: a broad brush pitt. You know a couple of members 427 00:24:25,840 --> 00:24:28,320 Speaker 1: on TV today saying really encouraging things. But at the 428 00:24:28,400 --> 00:24:32,119 Speaker 1: same time, we have allowed that kind of pue in 429 00:24:32,240 --> 00:24:34,960 Speaker 1: cheek actim or like never letting a crisis go to 430 00:24:35,000 --> 00:24:38,440 Speaker 1: waste actually become a governing cetis. And that's the problem 431 00:24:38,840 --> 00:24:41,520 Speaker 1: is that both sides think they have something to gain 432 00:24:42,240 --> 00:24:46,680 Speaker 1: from what's happening right now, and the reality situation is, 433 00:24:46,840 --> 00:24:50,639 Speaker 1: no one gains from this situation, the job, No one 434 00:24:50,840 --> 00:24:53,880 Speaker 1: gains from the economy that was going gainbusters and we're 435 00:24:53,880 --> 00:24:56,520 Speaker 1: in the middle of the longest expansion in American history. 436 00:24:56,640 --> 00:24:58,960 Speaker 1: No one gains from that. Going down the toilet. The 437 00:24:59,040 --> 00:25:02,399 Speaker 1: politicians needs forg us out. I I that you know 438 00:25:02,480 --> 00:25:04,280 Speaker 1: what you just said. That's the quote of the day 439 00:25:04,840 --> 00:25:07,600 Speaker 1: that the the axiom never let a good crisis go 440 00:25:07,720 --> 00:25:10,840 Speaker 1: to waste has been a thesis for policymakers. How what 441 00:25:11,000 --> 00:25:14,520 Speaker 1: a that? And that's it. That's that's just so angering 442 00:25:14,800 --> 00:25:17,200 Speaker 1: Give me some hope, give me some optimism, because I 443 00:25:17,320 --> 00:25:20,960 Speaker 1: just saw, I mean, on CNBC on Closing Bell the 444 00:25:21,040 --> 00:25:25,600 Speaker 1: Philadelphia Federal Reserve President Patrick Harcher Harker, Uh, he said 445 00:25:25,760 --> 00:25:27,680 Speaker 1: that quote. We're going to hit a period where it's 446 00:25:27,680 --> 00:25:29,439 Speaker 1: going to be pretty bad. It's pretty bad right now, 447 00:25:29,560 --> 00:25:32,160 Speaker 1: but we will climb out of this. It's not going 448 00:25:32,280 --> 00:25:34,359 Speaker 1: to be a sudden bounce back. I mean, it just 449 00:25:34,440 --> 00:25:37,439 Speaker 1: doesn't make sense to me. There's going to be certain 450 00:25:37,520 --> 00:25:40,440 Speaker 1: industries like travel and tourism and hospitality and so forth. 451 00:25:40,480 --> 00:25:43,840 Speaker 1: That will take some time for recovery. But again to 452 00:25:43,920 --> 00:25:46,359 Speaker 1: your point, I mean, he keeps saying that, uh, that 453 00:25:47,160 --> 00:25:49,520 Speaker 1: that there's gonna be some type of bounce back. We 454 00:25:49,640 --> 00:25:51,720 Speaker 1: have about a night left, so give me some optimism. 455 00:25:52,640 --> 00:25:56,080 Speaker 1: I mean, have you seen that meme going on Instagram, Kevin. 456 00:25:56,240 --> 00:25:58,959 Speaker 1: That's like, before we rush back to normal, let's assess 457 00:25:59,080 --> 00:26:02,080 Speaker 1: what normal is worth rushing back to. I do think 458 00:26:02,119 --> 00:26:03,720 Speaker 1: there's gonna be a little bit of a I think 459 00:26:03,760 --> 00:26:05,600 Speaker 1: there's gonna be a little bit of a realignment something 460 00:26:05,680 --> 00:26:08,280 Speaker 1: that we kind of missed in the nineties. When you 461 00:26:08,359 --> 00:26:10,920 Speaker 1: know now that we're not a manufacturing country anymore, people 462 00:26:10,960 --> 00:26:14,119 Speaker 1: are still asking how did this happen? Where what do 463 00:26:14,240 --> 00:26:16,160 Speaker 1: we do with people who used to have those skill sets? 464 00:26:16,440 --> 00:26:20,119 Speaker 1: Hopefully what this does is another realignment that proves what 465 00:26:20,359 --> 00:26:23,960 Speaker 1: we need is worker training to be thorough and consistent 466 00:26:24,040 --> 00:26:26,320 Speaker 1: throughout the course of a worker, not just want a 467 00:26:26,359 --> 00:26:27,959 Speaker 1: crisis hits. I think there might be a little bit 468 00:26:27,960 --> 00:26:30,639 Speaker 1: of realignment and industry that allows people to really hit 469 00:26:30,720 --> 00:26:33,680 Speaker 1: it with their skills, uh and and be able to 470 00:26:34,840 --> 00:26:38,760 Speaker 1: to really go through something like this that's disruptive at 471 00:26:38,800 --> 00:26:42,320 Speaker 1: the outset, but ultimately make workers better off. Thank you, Maddie. 472 00:26:42,480 --> 00:26:44,080 Speaker 1: And that's all we want is for workers to be 473 00:26:44,160 --> 00:26:48,159 Speaker 1: better off. Mattie Depler, everybody coming up, we continue the 474 00:26:48,240 --> 00:26:51,399 Speaker 1: conversation on policy and politics, and we check in with 475 00:26:51,440 --> 00:26:59,840 Speaker 1: the Garshamalia, Kevin s Earli, you're listening to Bloomberg. You 476 00:27:00,119 --> 00:27:03,960 Speaker 1: listening to Bloomberg. Sound on with Kevin Surreley on Bloomberg 477 00:27:05,040 --> 00:27:07,320 Speaker 1: and one oh five points seven f M h D two. 478 00:27:07,920 --> 00:27:11,000 Speaker 1: I'm Kevin Sirelli, Chief Washington correspondent for Bloomberg Television and 479 00:27:11,040 --> 00:27:14,639 Speaker 1: Bloomberg Radio. Coming up in the next half hour, President 480 00:27:14,680 --> 00:27:18,480 Speaker 1: Trump's daily Coronavirus Task Force Briefing. He's gonna lay out 481 00:27:18,520 --> 00:27:21,800 Speaker 1: the guidelines spolkes for reopening the economy. You can catch 482 00:27:21,880 --> 00:27:27,520 Speaker 1: that innoc entirety right here on Bloomberg. Now returning to 483 00:27:27,600 --> 00:27:30,639 Speaker 1: the program, Huggarsh Molly CEO of Grettish Media Strategies, former 484 00:27:30,840 --> 00:27:36,600 Speaker 1: Treasury Department spokesperson for Terrorism and Financial Intelligence, and Huggar 485 00:27:36,720 --> 00:27:38,800 Speaker 1: first of all, welcome back. How how are you? How 486 00:27:39,000 --> 00:27:41,879 Speaker 1: how is the family? And hopefully you're staying healthy and active. 487 00:27:42,240 --> 00:27:44,000 Speaker 1: You'res those great to ask. It's so great to be 488 00:27:44,119 --> 00:27:48,240 Speaker 1: on with you. Kevin. I I miss you guys in person. Great, 489 00:27:48,280 --> 00:27:50,359 Speaker 1: thank you for asking. We're all doing well. I'm counting 490 00:27:50,400 --> 00:27:52,840 Speaker 1: my blessing, you know what. I love that and that's 491 00:27:52,880 --> 00:27:55,399 Speaker 1: one thing definitely I think, uh, you know, and I 492 00:27:55,640 --> 00:27:57,760 Speaker 1: don't really shared this, but you know, for me, it's 493 00:27:57,800 --> 00:28:00,560 Speaker 1: been Listen. I have nothing to complain about nothing, I'm 494 00:28:00,600 --> 00:28:02,879 Speaker 1: filled with gratitude. But it's the stillness and having to 495 00:28:02,960 --> 00:28:05,520 Speaker 1: sit still that I've really struggled with her Gar, if 496 00:28:05,560 --> 00:28:07,200 Speaker 1: I'm if I'm going to be a little you know, 497 00:28:07,640 --> 00:28:10,720 Speaker 1: personal for a second, that the you know, spreading around 498 00:28:10,760 --> 00:28:12,720 Speaker 1: the world and all around the country for the first 499 00:28:13,080 --> 00:28:15,240 Speaker 1: you know, quarter of this here for the last five years, 500 00:28:15,560 --> 00:28:17,480 Speaker 1: and then it's like you're forced to sit still. So 501 00:28:17,560 --> 00:28:20,359 Speaker 1: I definitely had an adjustment period. Did you find that 502 00:28:20,480 --> 00:28:23,159 Speaker 1: as well, Hagar, because you're you're you're a Jets global 503 00:28:23,240 --> 00:28:28,000 Speaker 1: jets that are moms superhero did you find that as well? Yes? Well, 504 00:28:28,040 --> 00:28:29,679 Speaker 1: and I can I can monuct you a little bit 505 00:28:29,760 --> 00:28:33,400 Speaker 1: of that arsenally can run up me in every department 506 00:28:33,480 --> 00:28:37,360 Speaker 1: of my life. Go ahead, you know. On one hand, yes, 507 00:28:37,440 --> 00:28:39,760 Speaker 1: I completely agree, staying home is so hard. I hate 508 00:28:39,800 --> 00:28:42,240 Speaker 1: to complain because things could be so much worse. But 509 00:28:42,440 --> 00:28:45,320 Speaker 1: I am seven and a half month pregnant and sitting 510 00:28:45,480 --> 00:28:48,840 Speaker 1: all day has made everything much worse. And again, I 511 00:28:48,920 --> 00:28:51,000 Speaker 1: don't want to complain. I have my health, my kids 512 00:28:51,040 --> 00:28:54,040 Speaker 1: have health. I really can't complain. But um, I am 513 00:28:54,800 --> 00:28:57,920 Speaker 1: so physically uncomfortable and it just gets worse by the 514 00:28:58,040 --> 00:29:01,800 Speaker 1: day because of this baby. So you know, it is 515 00:29:01,880 --> 00:29:03,880 Speaker 1: what it is, Hugo, Thank you for bringing that up, 516 00:29:03,880 --> 00:29:05,840 Speaker 1: because this was my polite way of asking you about 517 00:29:05,880 --> 00:29:08,200 Speaker 1: that without trying to, you know, be a little too. 518 00:29:08,560 --> 00:29:10,760 Speaker 1: It's personal on air, but I'm you're You're always in 519 00:29:10,800 --> 00:29:12,560 Speaker 1: my thoughts, you and your family. All right. So did 520 00:29:12,600 --> 00:29:16,440 Speaker 1: you see this Washington Post uh exclusive reporting that they 521 00:29:16,520 --> 00:29:18,880 Speaker 1: had about the outbreak on the U S S. Theodore 522 00:29:19,000 --> 00:29:21,920 Speaker 1: Roosevelt and how it's become a defining moment for the 523 00:29:22,080 --> 00:29:25,960 Speaker 1: US military. Navy Captain Brett Crozer's message, obtained by the Post, 524 00:29:26,040 --> 00:29:29,640 Speaker 1: took some responsibility for the coronavirus outbreak on his aircraft 525 00:29:29,720 --> 00:29:33,240 Speaker 1: carrier and was sent to three admirals. Acting Navy Secretary 526 00:29:33,320 --> 00:29:36,720 Speaker 1: Thomas Moldley later exaggerated how many people it was sent 527 00:29:36,800 --> 00:29:41,920 Speaker 1: to as he ousted Crozier. This story is insane. Yes, no, 528 00:29:42,120 --> 00:29:45,680 Speaker 1: I it's it's remarkable. And you know what was more remarkable. 529 00:29:45,840 --> 00:29:50,280 Speaker 1: First of all, you know Captain Crozer the in the end, 530 00:29:50,440 --> 00:29:52,520 Speaker 1: he got what he wanted right when the letter leaked, right, 531 00:29:52,840 --> 00:29:55,280 Speaker 1: he got his team, his sailors were able to be 532 00:29:55,400 --> 00:29:58,800 Speaker 1: quarantined in Guam. He is himself he was tested positive 533 00:29:58,840 --> 00:30:02,800 Speaker 1: for for coronavirus and he's quarantined. UM. But the outpouring, 534 00:30:02,800 --> 00:30:04,560 Speaker 1: I mean, there's a petition online that I think has 535 00:30:04,640 --> 00:30:09,480 Speaker 1: over thousand signatures asking that he'd be reinstated, UM because 536 00:30:09,520 --> 00:30:11,720 Speaker 1: of his leadership, because of his care for the crew 537 00:30:11,880 --> 00:30:15,240 Speaker 1: and their health. And it is just remarkable what we're seeing. 538 00:30:15,240 --> 00:30:17,760 Speaker 1: I mean, if there's anything I remember in government that 539 00:30:17,880 --> 00:30:20,719 Speaker 1: that is at the military, it's very strict with its 540 00:30:20,800 --> 00:30:25,479 Speaker 1: protocols and it's systems, and there's their levels of respect 541 00:30:25,560 --> 00:30:28,280 Speaker 1: for those rules and and systems and and you have 542 00:30:28,400 --> 00:30:30,520 Speaker 1: to hand it to them. But um, but you know, 543 00:30:30,640 --> 00:30:32,960 Speaker 1: he needed to sound the alarm, and whether or not 544 00:30:33,120 --> 00:30:35,200 Speaker 1: he knew it was going to lead his letter, he 545 00:30:35,320 --> 00:30:38,080 Speaker 1: did the right thing. And you know, I hope he's reinstated. 546 00:30:38,160 --> 00:30:41,440 Speaker 1: It's it's really it's a it's really it's it's a 547 00:30:42,080 --> 00:30:44,080 Speaker 1: turning point for the Navy for sure. I think Trump. 548 00:30:44,120 --> 00:30:45,680 Speaker 1: President Trump is going to be asked about this in 549 00:30:45,720 --> 00:30:47,960 Speaker 1: the next half hour, because I mean, how do you 550 00:30:48,040 --> 00:30:50,040 Speaker 1: not get asked about this? I mean, then the Navy, 551 00:30:50,520 --> 00:30:53,000 Speaker 1: I can't even imagine the sacrifices that are are brave 552 00:30:53,080 --> 00:30:56,960 Speaker 1: servicemen and women are making, especially right now and yesterday. 553 00:30:57,040 --> 00:31:00,120 Speaker 1: What I learned from my interview with Guys Snodgrass is, 554 00:31:00,680 --> 00:31:03,920 Speaker 1: you know, we talk about the domestic economic impacts every 555 00:31:03,960 --> 00:31:08,400 Speaker 1: single day, as we should, but the regionally speaking, the 556 00:31:08,480 --> 00:31:12,120 Speaker 1: military and how they're having to navigate this, especially overseas, 557 00:31:12,640 --> 00:31:14,960 Speaker 1: that adds such a complex layer. And it's not just 558 00:31:15,120 --> 00:31:17,280 Speaker 1: the military, it's the State's Department. It's the thousands of 559 00:31:17,320 --> 00:31:19,640 Speaker 1: people serving our country through the State Department all around 560 00:31:19,640 --> 00:31:22,680 Speaker 1: the world in countries where quite honestly, they are not 561 00:31:22,960 --> 00:31:26,800 Speaker 1: as um, are not handling this as well as they 562 00:31:26,800 --> 00:31:30,320 Speaker 1: should be, right right, Oh, absolutely, you know it's to 563 00:31:30,440 --> 00:31:33,320 Speaker 1: your point about that it exactly so nicely to the 564 00:31:33,360 --> 00:31:37,440 Speaker 1: point about the State Department cable that came out that 565 00:31:37,880 --> 00:31:40,440 Speaker 1: Josh Broken reported about, right that said that two years 566 00:31:40,480 --> 00:31:42,840 Speaker 1: ago they had tried to wave the red flag about 567 00:31:43,320 --> 00:31:45,000 Speaker 1: It's a lot of waving red flag, by the way. 568 00:31:45,040 --> 00:31:46,680 Speaker 1: I mean, this is a common theme between what you're 569 00:31:46,680 --> 00:31:49,640 Speaker 1: seeing with Captain Krozer and in these State Department employees 570 00:31:49,720 --> 00:31:52,280 Speaker 1: that waved the red flag about the lack of safety 571 00:31:52,320 --> 00:31:56,920 Speaker 1: protocols at this lab in Wuhan, China and um where 572 00:31:57,000 --> 00:31:59,160 Speaker 1: now the US government is looking into whether or not 573 00:31:59,360 --> 00:32:03,920 Speaker 1: the coronavirus stemmed from there um and so it's you know, 574 00:32:04,040 --> 00:32:05,960 Speaker 1: it reminds me. The first thing I thought when I 575 00:32:06,040 --> 00:32:07,840 Speaker 1: saw that article, and the first thing I saw I 576 00:32:07,920 --> 00:32:10,760 Speaker 1: thought when I when I saw the letter that Captain 577 00:32:10,800 --> 00:32:14,360 Speaker 1: Krozer had sent to his superiors in his colleagues, was 578 00:32:14,880 --> 00:32:17,680 Speaker 1: just these are these are It's a team of people 579 00:32:17,760 --> 00:32:22,920 Speaker 1: who just care really genuinely, really deeply about their mission 580 00:32:23,120 --> 00:32:26,440 Speaker 1: and about the people they work with, and about whatever, 581 00:32:26,560 --> 00:32:28,400 Speaker 1: you know, whatever goal it is they're fighting for. And 582 00:32:28,520 --> 00:32:31,280 Speaker 1: cause they're they're they're in and they're all noble, and 583 00:32:31,320 --> 00:32:33,160 Speaker 1: they're all really you know, they're just trying to do 584 00:32:33,200 --> 00:32:34,560 Speaker 1: their job and they're trying to do it the best 585 00:32:34,600 --> 00:32:38,120 Speaker 1: they can. They just want to do their job. Yeah, exactly, exactly. 586 00:32:38,120 --> 00:32:40,600 Speaker 1: I really hope that Captain Krozer is reinstated, as they 587 00:32:40,640 --> 00:32:43,600 Speaker 1: say that the as as to what might happen, which 588 00:32:43,640 --> 00:32:44,960 Speaker 1: and I think it's likely for him. I mean, I 589 00:32:45,040 --> 00:32:48,320 Speaker 1: mean that's my speculation, of course, but um, he seems 590 00:32:48,360 --> 00:32:52,040 Speaker 1: like an amazing leader. So beyond that, moving away from that, 591 00:32:52,120 --> 00:32:54,160 Speaker 1: and again, the President likely will be asked about that 592 00:32:54,160 --> 00:32:57,040 Speaker 1: in the next half hour as he announces the guidelines 593 00:32:57,080 --> 00:32:58,800 Speaker 1: to reopening the economy. And you can listen to that 594 00:32:58,880 --> 00:33:00,400 Speaker 1: right here on Bloomberg Night and I n FM. But 595 00:33:00,480 --> 00:33:03,000 Speaker 1: let's bring it to China, which you which you mentioned 596 00:33:03,040 --> 00:33:07,480 Speaker 1: and Rogan's excellent reporting in the Washington Post. Um, in 597 00:33:07,720 --> 00:33:12,720 Speaker 1: terms of how how does the US navigate in the 598 00:33:12,840 --> 00:33:14,800 Speaker 1: long term, It's not going to be a short term fix. 599 00:33:15,040 --> 00:33:17,480 Speaker 1: How does US policy, whether it's President Biden or a 600 00:33:17,560 --> 00:33:23,240 Speaker 1: re election of President Trump navigate Xijing Ping, given what 601 00:33:23,440 --> 00:33:28,880 Speaker 1: just happened in the past couple of months, right, because 602 00:33:28,920 --> 00:33:31,000 Speaker 1: you're and let me let me just the reason I'm 603 00:33:31,000 --> 00:33:34,080 Speaker 1: asking this. You're previous where you previously worked, that division 604 00:33:34,120 --> 00:33:36,719 Speaker 1: of the Treasury Department, based upon my reporting, is going 605 00:33:36,760 --> 00:33:39,560 Speaker 1: to play a crucial role in the long term on 606 00:33:39,720 --> 00:33:42,880 Speaker 1: this strategy. Oh sure, without a doubt, the Treasure Department, 607 00:33:42,920 --> 00:33:46,160 Speaker 1: in the Commerce Department to given the you know what, 608 00:33:46,480 --> 00:33:50,280 Speaker 1: its President Trump has been has been unique in using 609 00:33:50,440 --> 00:33:53,800 Speaker 1: terrorists as this kind of force of punishment. Right, this 610 00:33:54,160 --> 00:33:58,160 Speaker 1: this point of leverage where to to use over a country, 611 00:33:58,280 --> 00:34:01,880 Speaker 1: namely China, to try and change behavior. And now that's 612 00:34:02,000 --> 00:34:05,800 Speaker 1: very specific behavior, but those types of financial measures, whether 613 00:34:05,880 --> 00:34:10,080 Speaker 1: it's tariffs, whether it's sanctions, um, whether it's other financial tools, 614 00:34:10,120 --> 00:34:13,040 Speaker 1: can be used to exert levels to change some kind 615 00:34:13,040 --> 00:34:17,560 Speaker 1: of behavior. And I you know, I think from where 616 00:34:17,640 --> 00:34:20,800 Speaker 1: I sit, I would be very strongly on the side 617 00:34:20,840 --> 00:34:24,880 Speaker 1: of using those tools and maybe others to twist China's 618 00:34:24,960 --> 00:34:28,640 Speaker 1: arm and twist present she's armed because this what you 619 00:34:28,800 --> 00:34:32,719 Speaker 1: have with what happened with the coronavirus, between the lying 620 00:34:32,840 --> 00:34:36,960 Speaker 1: that has gone on and the fact that doctors have 621 00:34:37,080 --> 00:34:39,960 Speaker 1: tried to raise the alarm or either jailed or silenced um. 622 00:34:40,120 --> 00:34:41,959 Speaker 1: And even now you see, I mean nothing has changed, 623 00:34:42,040 --> 00:34:45,240 Speaker 1: right China, the Chinese, the Chinese regime has been pursuing 624 00:34:45,280 --> 00:34:48,360 Speaker 1: a pr strategy when the rest of the world is suffering, 625 00:34:48,640 --> 00:34:51,600 Speaker 1: rather than trying to figure out a way to really 626 00:34:51,719 --> 00:34:54,840 Speaker 1: look into the truth and how this started and pursue 627 00:34:54,840 --> 00:34:58,800 Speaker 1: an investigation that is responsible, um, so that everyone in 628 00:34:58,800 --> 00:35:00,320 Speaker 1: the world can feel that we're going to ven this 629 00:35:00,400 --> 00:35:03,040 Speaker 1: again in the future. Uh. And I frankly, but by 630 00:35:03,080 --> 00:35:05,240 Speaker 1: the way, don't have faith in the World Health Organization 631 00:35:05,320 --> 00:35:08,480 Speaker 1: to be strong enough to be able to twist China's arm. 632 00:35:08,520 --> 00:35:12,520 Speaker 1: That's not really their job anyway, but investigating and helping 633 00:35:12,560 --> 00:35:16,400 Speaker 1: and assisting is. And so I do think that whomever 634 00:35:16,480 --> 00:35:18,000 Speaker 1: wins the next election, that this is going to be 635 00:35:18,120 --> 00:35:22,040 Speaker 1: high on their list, regardless of whether it's Republican or Democrats, 636 00:35:22,760 --> 00:35:26,440 Speaker 1: to try and find a way to force China into 637 00:35:26,560 --> 00:35:29,320 Speaker 1: opening up further on this issue, into not responding to 638 00:35:29,440 --> 00:35:34,080 Speaker 1: these scenarios with crushing the truth um, and to try 639 00:35:34,120 --> 00:35:37,480 Speaker 1: and let in experts and scientists and engineers and others 640 00:35:37,760 --> 00:35:40,440 Speaker 1: to figure out to to really do an adequate investigation 641 00:35:40,480 --> 00:35:42,359 Speaker 1: of how this happened, how it can be prevented. Again, 642 00:35:42,719 --> 00:35:44,440 Speaker 1: care so Well said, I wish we had more time. 643 00:35:44,480 --> 00:35:47,160 Speaker 1: What are you doing tomorrow? Can you come back on tomorrow? Yes, 644 00:35:47,280 --> 00:35:51,000 Speaker 1: any time for you anything. Thank you. So, Matt Shirley, 645 00:35:51,000 --> 00:35:53,160 Speaker 1: who's listening. He's one of our all star bookers. Let's 646 00:35:53,160 --> 00:35:54,560 Speaker 1: get how Guard back on tomorrow because I want to 647 00:35:54,560 --> 00:35:57,280 Speaker 1: do a segment with her specifically on the World Health Organization. 648 00:35:57,360 --> 00:35:59,200 Speaker 1: I was not able to get through it today. Coming up, 649 00:35:59,320 --> 00:36:02,720 Speaker 1: listen to President RUMs Live Daily Coronavirus Task Force briefing. 650 00:36:02,760 --> 00:36:05,440 Speaker 1: He's going to announce the guidelines for reopening the economy 651 00:36:05,600 --> 00:36:09,319 Speaker 1: right here on Bloomberg one FM. I'm Kevin Cirelli, Chief 652 00:36:09,360 --> 00:36:12,680 Speaker 1: Washington correspondent for Bloomberg TELEVISIONAL Bloomberg Radio. Thank you for 653 00:36:12,840 --> 00:36:20,239 Speaker 1: listening to Bloomberg. I cou