1
00:00:01,400 --> 00:00:05,960
Speaker 1: Now from our nation's capital. This is Bloomberg Sound on.

2
00:00:07,080 --> 00:00:08,960
Speaker 1: Pluton has made it very clear that he wants to

3
00:00:08,960 --> 00:00:12,280
Speaker 1: reunite the Silt unions in the view is not ethically constrained.

4
00:00:12,600 --> 00:00:16,840
Speaker 1: Most sting as risk free sanctions, but our risk polerance

5
00:00:16,880 --> 00:00:20,160
Speaker 1: test arized in the face of an actual Landford in Eura.

6
00:00:20,320 --> 00:00:25,080
Speaker 1: Bloomberg Sound on Politics, Policy and Perspective from DC's top

7
00:00:25,160 --> 00:00:29,120
Speaker 1: name serious science, that the economy is not super robust,

8
00:00:29,120 --> 00:00:32,800
Speaker 1: Pennsylvania has there's a structurally deficient bridge benea has been

9
00:00:33,000 --> 00:00:35,280
Speaker 1: pronounced for a while, and Joe Biden got it done.

10
00:00:35,320 --> 00:00:41,440
Speaker 1: Bloomberg Sound On with Joe Matthew on Bloomberg Radio, who

11
00:00:41,479 --> 00:00:45,040
Speaker 1: says miracles don't happen even in the age of COVID.

12
00:00:45,120 --> 00:00:48,400
Speaker 1: We get an upside shock. Or on jobs, we'll talk

13
00:00:48,400 --> 00:00:50,480
Speaker 1: about the state of the job market, how we got

14
00:00:50,520 --> 00:00:53,360
Speaker 1: this number and why there's so much uncertainty in the

15
00:00:53,400 --> 00:00:56,880
Speaker 1: economy right now with President Biden's senior adviser Gene Sperling

16
00:00:56,880 --> 00:00:59,120
Speaker 1: will be with us in just a moment later. Congressman

17
00:00:59,160 --> 00:01:02,640
Speaker 1: Seth molten a crap from Massachusetts on the standoff with

18
00:01:02,720 --> 00:01:05,120
Speaker 1: Russia and the potential for sanctions and we'll talk as

19
00:01:05,160 --> 00:01:08,840
Speaker 1: well today with Congressman Bryant, style Republican from Wisconsin. The

20
00:01:08,920 --> 00:01:14,080
Speaker 1: signature panelists here Bloomberg Politics contributors Genie Chanzano and Rick Davis.

21
00:01:14,680 --> 00:01:17,679
Speaker 1: This is what it sounded like this morning at eight

22
00:01:17,720 --> 00:01:21,480
Speaker 1: thirty AM on Bloomberg TV and Radio when the January

23
00:01:21,600 --> 00:01:26,360
Speaker 1: jobs report came out. Massive upside surprise here in America.

24
00:01:26,640 --> 00:01:31,080
Speaker 1: Mike mckayby, I don't get it either, John, four hundred

25
00:01:31,160 --> 00:01:33,640
Speaker 1: and sixties seven thousand, and that's a plus sign in

26
00:01:33,680 --> 00:01:36,360
Speaker 1: front of that number. This has been the biggest miss

27
00:01:36,400 --> 00:01:41,480
Speaker 1: in history, Mike, take your time, rather amazing uh number.

28
00:01:41,760 --> 00:01:44,880
Speaker 1: And if Tom King, John Faroh and Mike McKee are shocked, well,

29
00:01:44,880 --> 00:01:47,640
Speaker 1: what does that say for the rest of us? Keep

30
00:01:47,680 --> 00:01:50,440
Speaker 1: in mind some estimates we're calling for a negative number,

31
00:01:51,240 --> 00:01:53,920
Speaker 1: as Austin Goulsby told us just on Tuesday this week.

32
00:01:54,080 --> 00:01:57,440
Speaker 1: Labor Secretary Marty Walsh warned us on Monday about what

33
00:01:57,520 --> 00:01:59,960
Speaker 1: could be a very weak report, remembering the survey took

34
00:02:00,000 --> 00:02:02,240
Speaker 1: place at the same time a macron was peaking. But

35
00:02:02,280 --> 00:02:05,720
Speaker 1: then we saw the tape an upside surprise like maybe

36
00:02:05,720 --> 00:02:07,800
Speaker 1: we've never seen. I'll go with Tom Keene on that

37
00:02:08,639 --> 00:02:10,760
Speaker 1: and That is where we begin with Gene Sperling, Senior

38
00:02:10,760 --> 00:02:15,160
Speaker 1: Advisor to the President and coordinator of the American Rescue Plan. Gene,

39
00:02:15,200 --> 00:02:17,160
Speaker 1: I'm delighted that you're here. Thanks for joining us. I

40
00:02:17,240 --> 00:02:20,960
Speaker 1: understand the administration gets the numbers on Thursday night typically,

41
00:02:21,000 --> 00:02:23,000
Speaker 1: I'm assuming that you're in that pool, whether it was

42
00:02:23,080 --> 00:02:25,120
Speaker 1: last night or this morning. Were you as surprised as

43
00:02:25,200 --> 00:02:28,520
Speaker 1: everyone else? You know, I used to be in that

44
00:02:28,560 --> 00:02:32,440
Speaker 1: pool during the Biden excuse me, during the Obama and

45
00:02:32,480 --> 00:02:36,359
Speaker 1: clintonministration when I was National Economic Council Director. But it's

46
00:02:36,440 --> 00:02:40,960
Speaker 1: very strict, so this coordinator, as American Rescue Plan coordinator,

47
00:02:41,040 --> 00:02:43,920
Speaker 1: I was like everyone else. I heard exactly at A

48
00:02:44,120 --> 00:02:47,200
Speaker 1: thirty and yes, it was. It was a very very

49
00:02:47,280 --> 00:02:50,280
Speaker 1: reassuring moment. You know. I think some people have said,

50
00:02:50,320 --> 00:02:54,079
Speaker 1: this is the moment where perhaps we're seen that the

51
00:02:54,840 --> 00:02:58,320
Speaker 1: strong response, you know, not only the power of the

52
00:02:58,360 --> 00:03:03,360
Speaker 1: American Rescue Plan in strengthening the economy, but the efforts,

53
00:03:03,800 --> 00:03:08,000
Speaker 1: the massive efforts that have been done at vaccination and boosters, etcetera.

54
00:03:08,440 --> 00:03:12,839
Speaker 1: Are combining to allow us to have a very very

55
00:03:12,919 --> 00:03:17,560
Speaker 1: strong job performance even when we faced a variant that

56
00:03:17,680 --> 00:03:22,000
Speaker 1: was clearly spreading, clearly having significant issues. I mean, one

57
00:03:22,000 --> 00:03:24,440
Speaker 1: of the things to remember too was not only was

58
00:03:24,480 --> 00:03:28,040
Speaker 1: this up four hundred sixty seven thousand, but this report

59
00:03:28,120 --> 00:03:32,079
Speaker 1: went back and revised up the November number by four

60
00:03:32,160 --> 00:03:36,440
Speaker 1: hundred thirty seven thousand, UH and and revised up the

61
00:03:36,520 --> 00:03:40,360
Speaker 1: December number by another few hundred thousand, So we both

62
00:03:40,400 --> 00:03:42,920
Speaker 1: got seven hundred and forty. We learned we have seven

63
00:03:43,040 --> 00:03:46,840
Speaker 1: hundred forty eight thou more jobs added in November and December,

64
00:03:47,240 --> 00:03:49,840
Speaker 1: and we had this strong number. So I think this

65
00:03:49,880 --> 00:03:55,720
Speaker 1: should be extremely reassuring for people that that the strategy

66
00:03:55,800 --> 00:03:59,680
Speaker 1: with the American rescue plants, with the strong effort on vaccine,

67
00:03:59,720 --> 00:04:04,360
Speaker 1: Asian UH and booster shots are really starting to suggest

68
00:04:04,520 --> 00:04:07,960
Speaker 1: that a degree of resilience in our economy that should

69
00:04:08,000 --> 00:04:11,680
Speaker 1: be reassuring to people across the board. Well, visibility is

70
00:04:11,680 --> 00:04:13,320
Speaker 1: a real issue here, Jean. Do you have a theory

71
00:04:13,360 --> 00:04:15,520
Speaker 1: on why estimates have been off not just this month

72
00:04:15,520 --> 00:04:18,000
Speaker 1: but lately. Is it is it the survey? Is it

73
00:04:18,080 --> 00:04:21,000
Speaker 1: a function of modeling in a pandemic? And I guess

74
00:04:21,040 --> 00:04:23,240
Speaker 1: the real question is it time to rethink the way

75
00:04:23,320 --> 00:04:27,400
Speaker 1: labor collects data for payrolls? You know, these are all

76
00:04:27,440 --> 00:04:30,160
Speaker 1: good questions. I mean, we've done the payroll survey and

77
00:04:30,200 --> 00:04:35,520
Speaker 1: the household survey for so many years, and I think that, um,

78
00:04:35,560 --> 00:04:39,800
Speaker 1: you know, when you think about the impact these things have, uh,

79
00:04:39,880 --> 00:04:43,920
Speaker 1: you know, it's it's not that you don't have absolutely

80
00:04:44,040 --> 00:04:49,760
Speaker 1: professional uh people career people at the Bureau of Labor Statistics.

81
00:04:50,000 --> 00:04:53,800
Speaker 1: But yes, maybe when we consider the impact that this has,

82
00:04:53,880 --> 00:04:56,039
Speaker 1: we should figure out whether there is a way we

83
00:04:56,040 --> 00:04:58,160
Speaker 1: could do better. I can think about it. The fact

84
00:04:58,160 --> 00:05:02,080
Speaker 1: that November was a tw thousand UH in December was

85
00:05:02,120 --> 00:05:04,560
Speaker 1: at a hundred ninety nine thousand, I mean that was

86
00:05:04,720 --> 00:05:08,520
Speaker 1: that really affected people's sense of where the job market

87
00:05:08,680 --> 00:05:10,960
Speaker 1: was at this point. Now we find out it was

88
00:05:11,000 --> 00:05:14,400
Speaker 1: four hundred and thirties, you know, it was seven hunty

89
00:05:14,440 --> 00:05:17,320
Speaker 1: eight thousand more. I mean that does suggest that I

90
00:05:17,360 --> 00:05:21,560
Speaker 1: think the question you're asking, UH is a good one.

91
00:05:21,920 --> 00:05:25,960
Speaker 1: I Mean it's been interesting and obviously tiny bit frustrating

92
00:05:26,320 --> 00:05:28,920
Speaker 1: that all of these numbers for so many months come

93
00:05:28,960 --> 00:05:31,800
Speaker 1: in lower and then later get and get a lot

94
00:05:31,839 --> 00:05:35,719
Speaker 1: of attention, and then are are revised up. But which whatever,

95
00:05:35,800 --> 00:05:39,960
Speaker 1: however they've been reported, six point six million jobs in

96
00:05:40,839 --> 00:05:43,839
Speaker 1: one is not only the strongest calendar your job growth

97
00:05:43,880 --> 00:05:46,920
Speaker 1: we've ever had, it's like not even closed. I mean

98
00:05:46,960 --> 00:05:50,120
Speaker 1: it's it's two two, two and a half million, more

99
00:05:50,200 --> 00:05:53,480
Speaker 1: than you know, second place, which was nineteen forty six

100
00:05:53,520 --> 00:05:57,239
Speaker 1: after World War Two. This is very very reassuring about

101
00:05:57,279 --> 00:05:59,599
Speaker 1: the job market. And I don't want to underestimate the

102
00:05:59,600 --> 00:06:03,840
Speaker 1: degree that Americans are, you know, feeling that that understain

103
00:06:04,080 --> 00:06:07,040
Speaker 1: from higher prices and inflation. But when we look at

104
00:06:07,040 --> 00:06:10,360
Speaker 1: the health of the labor market, of unemployment on jobs UH,

105
00:06:10,400 --> 00:06:12,760
Speaker 1: and our ability to have resilience in the face of

106
00:06:12,800 --> 00:06:15,840
Speaker 1: new variants, this is a very reassuring moment. Well, as

107
00:06:15,839 --> 00:06:18,039
Speaker 1: a statistician, do you have a thought on how how

108
00:06:18,080 --> 00:06:20,159
Speaker 1: that could be done differently? Is there a different way

109
00:06:20,160 --> 00:06:22,640
Speaker 1: to look at considering the technology we have now what

110
00:06:22,760 --> 00:06:25,680
Speaker 1: the American people are experiencing in a snapshot each month.

111
00:06:26,920 --> 00:06:29,160
Speaker 1: You know, I don't want to try, you know, as

112
00:06:29,200 --> 00:06:32,760
Speaker 1: you say, come up with something on a snap I mean,

113
00:06:32,880 --> 00:06:37,400
Speaker 1: obviously you are seeing people explore new new ways. There's

114
00:06:37,480 --> 00:06:41,280
Speaker 1: you've seen the Pulse UH survey that Census has done,

115
00:06:41,480 --> 00:06:43,880
Speaker 1: which has given us more up to date information. On

116
00:06:43,920 --> 00:06:47,120
Speaker 1: the other hand, we also know that that's it's new,

117
00:06:47,240 --> 00:06:51,479
Speaker 1: it's brand new, it's experimental. It's not always accurate. But

118
00:06:51,600 --> 00:06:55,040
Speaker 1: I think you're I think the question you're posing is

119
00:06:55,080 --> 00:06:57,800
Speaker 1: a good one. And I think that uh if I

120
00:06:57,839 --> 00:07:01,400
Speaker 1: think our chair secil of the until the Economic Advisor

121
00:07:01,680 --> 00:07:04,760
Speaker 1: setilia route, and I think every chair before has always

122
00:07:04,800 --> 00:07:09,080
Speaker 1: said we should invest more funds on research and data.

123
00:07:09,240 --> 00:07:11,400
Speaker 1: And I think when you just look at the degree

124
00:07:11,480 --> 00:07:15,040
Speaker 1: now that we all hang on these numbers, they affect markets,

125
00:07:15,080 --> 00:07:18,840
Speaker 1: they affect consumer confidence. I think you're really pointing to

126
00:07:18,880 --> 00:07:21,320
Speaker 1: a good issue is whether we as a country, uh

127
00:07:21,400 --> 00:07:24,800
Speaker 1: could invest a little more in getting real time data

128
00:07:24,960 --> 00:07:28,200
Speaker 1: that is a little more accurate. God knows, I had

129
00:07:28,240 --> 00:07:31,720
Speaker 1: to tell President Obama one month that the numbers were

130
00:07:31,720 --> 00:07:34,920
Speaker 1: at zero. It was a pretty painful moment. Turned out

131
00:07:35,040 --> 00:07:38,600
Speaker 1: we've gained a hundreds. That was the day I wish

132
00:07:38,720 --> 00:07:42,320
Speaker 1: we had a little better up to date data. Yeah, well,

133
00:07:42,360 --> 00:07:45,280
Speaker 1: you know, and nobody reports on those revisions, do they often?

134
00:07:45,440 --> 00:07:48,720
Speaker 1: You mentioned the American Rescue Plan gene spiling. When you

135
00:07:48,800 --> 00:07:51,880
Speaker 1: look at wages up believe five point seven percent year

136
00:07:51,920 --> 00:07:54,240
Speaker 1: over year, you look at an increase in labor participation.

137
00:07:54,280 --> 00:07:58,080
Speaker 1: Assuming we believe these numbers, does the strength underlying this

138
00:07:58,160 --> 00:08:02,560
Speaker 1: report suggests that the American Rescue Plan may have overheated

139
00:08:02,560 --> 00:08:08,200
Speaker 1: the economy. Oh you know, No, I don't believe that.

140
00:08:08,240 --> 00:08:13,120
Speaker 1: I mean, look, we did make a commitment to UH

141
00:08:13,160 --> 00:08:16,320
Speaker 1: to be strong, to get our economy going. And look,

142
00:08:16,400 --> 00:08:20,720
Speaker 1: let's remember, uh the American Recovery Plan in oh nine

143
00:08:20,760 --> 00:08:24,560
Speaker 1: did a great job of keep getting us out or

144
00:08:24,680 --> 00:08:27,840
Speaker 1: keeping us from going into a depression. But we learned

145
00:08:27,880 --> 00:08:33,440
Speaker 1: painfully later that it wasn't large enough to sustain a

146
00:08:33,559 --> 00:08:37,680
Speaker 1: strong recovery that could handle bumps in the road and

147
00:08:38,000 --> 00:08:41,680
Speaker 1: you know foreign you know, unforeseen not just the known

148
00:08:41,760 --> 00:08:46,080
Speaker 1: unknowns like variants, but the you know, the unforeseen you know,

149
00:08:46,120 --> 00:08:49,119
Speaker 1: bucks in the road that can happen with foreign policy

150
00:08:49,200 --> 00:08:51,880
Speaker 1: and other things. So no, I think the strength of

151
00:08:51,920 --> 00:08:54,959
Speaker 1: this is one that we feel very good about now.

152
00:08:55,520 --> 00:08:59,520
Speaker 1: You know. Obviously, you know, you have a your strengthened

153
00:08:59,559 --> 00:09:02,640
Speaker 1: demand can have some effect on prices. But what here's

154
00:09:02,679 --> 00:09:06,079
Speaker 1: what we know. Everywhere in the globe people are dealing

155
00:09:06,080 --> 00:09:10,679
Speaker 1: with supply chain issues and very high inflation. Uh, you know.

156
00:09:10,720 --> 00:09:13,240
Speaker 1: And the difference in the United States is that by

157
00:09:13,320 --> 00:09:15,920
Speaker 1: several months we were the first to get back to

158
00:09:16,040 --> 00:09:19,280
Speaker 1: it to our pre pandemic GDP levels because of the

159
00:09:19,280 --> 00:09:24,280
Speaker 1: American rescue Plan. We're having this strong job market. I

160
00:09:24,320 --> 00:09:28,200
Speaker 1: think that, uh, I think for Americans this means way

161
00:09:28,280 --> 00:09:32,560
Speaker 1: less long term unemployment. This means less scarring from younger

162
00:09:32,600 --> 00:09:35,480
Speaker 1: workers who can't get into the workforce and have their

163
00:09:35,520 --> 00:09:38,640
Speaker 1: careers delayed. So no, I think we all feel that

164
00:09:38,760 --> 00:09:42,760
Speaker 1: the bent that this strong labor market is a is

165
00:09:42,800 --> 00:09:47,439
Speaker 1: a is a positive for American workers, American families, and

166
00:09:47,520 --> 00:09:51,040
Speaker 1: for not having the kind of long term scars that

167
00:09:51,200 --> 00:09:55,160
Speaker 1: often deep, deep processions have had in the past. Well, boy,

168
00:09:55,200 --> 00:09:58,160
Speaker 1: it is. It's a pretty remarkable conversation that we're having today.

169
00:09:58,240 --> 00:10:00,720
Speaker 1: Jeans Spirling, I'll throw this at you lastly, and I

170
00:10:00,720 --> 00:10:03,480
Speaker 1: appreciate your time again, knowing that interest rate hikes are coming,

171
00:10:03,520 --> 00:10:05,480
Speaker 1: knowing that we're seeing a bit of a slowdown in

172
00:10:05,520 --> 00:10:09,439
Speaker 1: the economy even as the job market revs up here

173
00:10:09,440 --> 00:10:11,320
Speaker 1: in January, of course, maybe that's not going to be

174
00:10:11,360 --> 00:10:13,640
Speaker 1: the case. Uh, straight on through, Do you worry about

175
00:10:13,640 --> 00:10:16,240
Speaker 1: the S word? I heard stagflation a couple of times today,

176
00:10:16,240 --> 00:10:17,920
Speaker 1: And when you look down the road of this year,

177
00:10:18,320 --> 00:10:22,880
Speaker 1: I wonder what your concerns are, if any, about that. No, Uh,

178
00:10:23,040 --> 00:10:25,640
Speaker 1: you know, I think that when you look, uh you know,

179
00:10:25,760 --> 00:10:28,880
Speaker 1: I understand, I'm I'm calling I'm speaking at the White House.

180
00:10:28,880 --> 00:10:30,920
Speaker 1: But I think if you were to look at the

181
00:10:31,000 --> 00:10:33,560
Speaker 1: at the people who are seen as the top private

182
00:10:33,559 --> 00:10:37,240
Speaker 1: sector forecasters, if you're looking at the Federal Reserve, you

183
00:10:37,280 --> 00:10:42,280
Speaker 1: know they're looking at potentially uh slower than than initially

184
00:10:42,320 --> 00:10:45,840
Speaker 1: projected growth in the first quarter due to omicron, but

185
00:10:45,880 --> 00:10:51,079
Speaker 1: their estimates for two are actually still you know, quite

186
00:10:51,200 --> 00:10:56,280
Speaker 1: strong growth and moderating inflation. So uh, No, I I

187
00:10:58,080 --> 00:11:03,160
Speaker 1: maintain guarded optimism as uh. I'll add guarded, but I'll

188
00:11:03,200 --> 00:11:06,679
Speaker 1: also say optimism about the path. You've done this before.

189
00:11:06,920 --> 00:11:10,400
Speaker 1: Jane Spurling, the coordinator of the American Rescue Plan, senior

190
00:11:10,400 --> 00:11:12,599
Speaker 1: adviser to President Biden, thank you for stopping down for

191
00:11:12,679 --> 00:11:15,520
Speaker 1: us tonight. It's great to catch up with you after this,

192
00:11:15,880 --> 00:11:20,480
Speaker 1: or I should say, by the way, these data it's plural, guys.

193
00:11:21,920 --> 00:11:24,880
Speaker 1: Talk to your editors as we assemble the panel. Now.

194
00:11:24,920 --> 00:11:29,000
Speaker 1: Bloomberg Politics and tributors Jeanie Shenzano and Rick Davis are

195
00:11:29,080 --> 00:11:31,160
Speaker 1: with us now. Genie, this was a little bit of

196
00:11:31,200 --> 00:11:33,880
Speaker 1: a mind blower on both sides of the aisle here

197
00:11:34,160 --> 00:11:38,080
Speaker 1: politically for President Biden. What he needed, absolutely and what

198
00:11:38,160 --> 00:11:40,880
Speaker 1: a remarkable day. I woke up this morning turned on

199
00:11:40,960 --> 00:11:45,000
Speaker 1: surveillance and heard those numbers. You know, my jaw dropped, um,

200
00:11:45,040 --> 00:11:47,000
Speaker 1: you know. And it has been quite quite a big

201
00:11:47,080 --> 00:11:49,480
Speaker 1: day for President Biden and quite a big week between

202
00:11:49,520 --> 00:11:53,200
Speaker 1: the the ISIS leader taken out briar c GDP growth

203
00:11:53,440 --> 00:11:56,440
Speaker 1: and he took something of a mini victory lap today

204
00:11:56,480 --> 00:11:59,080
Speaker 1: when he spoke about it. But this is a very good,

205
00:11:59,160 --> 00:12:02,200
Speaker 1: jet good day. As Jean's Burling just said, you know,

206
00:12:02,600 --> 00:12:05,120
Speaker 1: this is you know, exactly what they wanted to see.

207
00:12:05,200 --> 00:12:07,160
Speaker 1: And let's just think about the fact that six point

208
00:12:07,240 --> 00:12:10,360
Speaker 1: six million jobs created in his first year. These are

209
00:12:10,440 --> 00:12:14,600
Speaker 1: remarkable numbers for an economy that many people would never

210
00:12:14,640 --> 00:12:16,920
Speaker 1: have predicted at the beginning of of the pandemic could

211
00:12:16,920 --> 00:12:19,320
Speaker 1: have gone this this way? Rick, does it get his

212
00:12:19,400 --> 00:12:22,600
Speaker 1: approval ratings though, Well, it's not gonna hurt him. I

213
00:12:22,640 --> 00:12:24,680
Speaker 1: gotta believe that it can if you can get this

214
00:12:24,800 --> 00:12:27,640
Speaker 1: on some kind of sustainable fashion, right in other words,

215
00:12:27,960 --> 00:12:31,040
Speaker 1: last longer than a week. Uh, Continue to press ahead,

216
00:12:31,559 --> 00:12:34,400
Speaker 1: continue to talk about the infrastructure bill and the impact

217
00:12:34,400 --> 00:12:37,640
Speaker 1: it has. Get a budget before February eighteenth that allows

218
00:12:37,640 --> 00:12:40,200
Speaker 1: some of those funds from the infrastructure bill to flow

219
00:12:40,240 --> 00:12:42,560
Speaker 1: to the states. I mean, these these are things that

220
00:12:42,559 --> 00:12:45,280
Speaker 1: could help rebuild his image, and and he has no

221
00:12:45,480 --> 00:12:47,760
Speaker 1: time to spare. Those midterms are gonna be on fast,

222
00:12:48,120 --> 00:12:51,440
Speaker 1: and so this is a really welcome week, especially compared

223
00:12:51,480 --> 00:12:53,880
Speaker 1: to the first couple of weeks of January. Uh, this

224
00:12:53,960 --> 00:12:55,880
Speaker 1: has got to give them some food for thought that

225
00:12:55,920 --> 00:12:59,040
Speaker 1: they might be able to turn this wagon around. Gene

226
00:12:59,160 --> 00:13:02,319
Speaker 1: and us. Jane Spurling was with us before. Jeanie and

227
00:13:02,400 --> 00:13:03,920
Speaker 1: Rick will be back with us little bit later. On

228
00:13:03,960 --> 00:13:07,040
Speaker 1: our signature panel. Coming up, we will talk with Congressman

229
00:13:07,080 --> 00:13:11,080
Speaker 1: Seth Moulton of Massachusetts about all this and Ukraine. It

230
00:13:11,120 --> 00:13:15,000
Speaker 1: sounds like we're getting back to work. Our country is

231
00:13:15,080 --> 00:13:17,800
Speaker 1: taking everything that COVID is a throw at us, and

232
00:13:17,920 --> 00:13:21,840
Speaker 1: we've come back stronger. I'm pleased report this morning, but

233
00:13:21,960 --> 00:13:24,600
Speaker 1: many of you already know that America's job machine is

234
00:13:24,679 --> 00:13:30,000
Speaker 1: going stronger than ever. Wag work work, work, work, work, work, work,

235
00:13:30,040 --> 00:13:33,600
Speaker 1: work work what America is back to work? All I

236
00:13:33,679 --> 00:13:36,199
Speaker 1: know is that the President laid out a plan the

237
00:13:36,280 --> 00:13:38,640
Speaker 1: beginning of last year to get people back to work. UH.

238
00:13:38,800 --> 00:13:41,360
Speaker 1: Six point seven million Americans got back to work, a

239
00:13:41,400 --> 00:13:44,880
Speaker 1: massive upside surprise on payrolls four hundred and sixty seven thousand.

240
00:13:45,320 --> 00:13:49,760
Speaker 1: The estimate one hundred and five candy. This morning's report

241
00:13:49,840 --> 00:13:52,959
Speaker 1: caps off my first year as president, and over that period,

242
00:13:53,480 --> 00:13:58,000
Speaker 1: our economy created six point six million jobs. You can't

243
00:13:58,000 --> 00:14:00,720
Speaker 1: remember another year when so many people want to work

244
00:14:00,880 --> 00:14:04,360
Speaker 1: use a country. There's a reason it never happened. We're excited.

245
00:14:04,400 --> 00:14:06,560
Speaker 1: I'm excited today, but you know something, we still have

246
00:14:06,600 --> 00:14:09,040
Speaker 1: work to do, and you know this celebration can last

247
00:14:09,120 --> 00:14:10,720
Speaker 1: for a little bit and then we got to go

248
00:14:10,720 --> 00:14:15,679
Speaker 1: back to work. All right, let's add to the conversation.

249
00:14:15,679 --> 00:14:22,200
Speaker 1: Congressman Seth Molton, Democrat from Massachusetts. Congressman welcomed back to Bloomberg.

250
00:14:22,640 --> 00:14:25,080
Speaker 1: I'm looking forward to your insights on Russia and Ukraine.

251
00:14:25,080 --> 00:14:26,760
Speaker 1: I'd love to ask you first, as a member of

252
00:14:26,760 --> 00:14:29,280
Speaker 1: the Budget Committee, if you see an omnibus budget coming

253
00:14:29,360 --> 00:14:32,880
Speaker 1: in time for February eighth, I know it's an important deadline,

254
00:14:32,920 --> 00:14:34,960
Speaker 1: or if the government will need a continuing resolution to

255
00:14:35,000 --> 00:14:39,040
Speaker 1: buy a little more time while everyone gets this all together. Well,

256
00:14:39,040 --> 00:14:41,880
Speaker 1: I certainly hope we don't have another continuing resolution. I mean,

257
00:14:41,960 --> 00:14:45,160
Speaker 1: let's be clear, Democrats in the House have passed our

258
00:14:45,200 --> 00:14:48,800
Speaker 1: appropriations packages and it's only Republicans in the Senate that

259
00:14:48,840 --> 00:14:51,320
Speaker 1: are blocking it. And this hurts our national security. So

260
00:14:51,360 --> 00:14:54,640
Speaker 1: when we're talking next about Russia and Ukraine and how

261
00:14:54,720 --> 00:14:58,360
Speaker 1: we need to be prepared for these national security challenges

262
00:14:58,360 --> 00:15:00,840
Speaker 1: of the future, we can't do at if we're just

263
00:15:01,720 --> 00:15:05,720
Speaker 1: governing crisis to crisis with continuing resolutions, which doesn't allow

264
00:15:05,800 --> 00:15:08,520
Speaker 1: the military or anyone else for that matter, to change

265
00:15:08,520 --> 00:15:10,560
Speaker 1: their budget. And in fact, is a pay cut for

266
00:15:10,600 --> 00:15:14,160
Speaker 1: the Pentagon, is it not? And that's right because of inflation,

267
00:15:14,160 --> 00:15:16,680
Speaker 1: which of course is a problem. Uh we it's just

268
00:15:16,920 --> 00:15:19,880
Speaker 1: it's a pay cut. But most importantly, they can't divert

269
00:15:20,000 --> 00:15:22,400
Speaker 1: money into things that we need to be investing in,

270
00:15:22,760 --> 00:15:26,960
Speaker 1: away from old weapons systems, big, old heavy things that

271
00:15:27,000 --> 00:15:30,240
Speaker 1: we don't need anymore. And we've got to make those changes.

272
00:15:30,240 --> 00:15:31,920
Speaker 1: It's the right thing to do for the taxpayer and

273
00:15:31,960 --> 00:15:34,440
Speaker 1: also for our national security. Still, the Congressman, it does

274
00:15:34,480 --> 00:15:36,280
Speaker 1: appear the deal is in the offering, right, do you

275
00:15:36,320 --> 00:15:39,520
Speaker 1: expect the twelve appropriations bills to come together? We'll actually

276
00:15:39,560 --> 00:15:41,600
Speaker 1: have a budget instead of doing crs, you know, for

277
00:15:41,640 --> 00:15:44,840
Speaker 1: the rest of the year. Well, we've heard from the

278
00:15:44,880 --> 00:15:49,080
Speaker 1: Secretary of Defense most recently, but many others about how

279
00:15:49,120 --> 00:15:51,560
Speaker 1: important this is. I don't know if we're gonna make

280
00:15:51,560 --> 00:15:53,720
Speaker 1: it by the deadline or not. I'm hearing mixed views

281
00:15:53,760 --> 00:15:56,000
Speaker 1: on that, but there's no question that we've got to

282
00:15:56,040 --> 00:15:58,040
Speaker 1: get it done soon. I've been talking a lot about

283
00:15:58,080 --> 00:16:01,160
Speaker 1: jobs today. We've heard so many warnings about a slowdown

284
00:16:01,640 --> 00:16:03,280
Speaker 1: at the beginning of this year. I wonder if you're

285
00:16:03,320 --> 00:16:05,360
Speaker 1: encouraged by I know it's just a month, but today's

286
00:16:05,400 --> 00:16:08,240
Speaker 1: jobs report, and where do you think this economy is

287
00:16:08,400 --> 00:16:12,480
Speaker 1: after two years of COVID. Well, in many ways, the

288
00:16:12,680 --> 00:16:16,240
Speaker 1: economy is doing remarkably well. I mean, that's an incredible story.

289
00:16:16,320 --> 00:16:20,120
Speaker 1: We bounced back from COVID, and that's due to the

290
00:16:20,120 --> 00:16:23,520
Speaker 1: relief packages that we've passed, including the most recent one

291
00:16:23,680 --> 00:16:29,680
Speaker 1: under President Biden. We were expecting a massive economic disaster,

292
00:16:29,760 --> 00:16:34,040
Speaker 1: a catastrophic People were talking about another great depression because

293
00:16:34,080 --> 00:16:37,200
Speaker 1: of COVID. But due to the relief packages through Congress,

294
00:16:37,360 --> 00:16:40,440
Speaker 1: the United States of America has recovered better than any

295
00:16:40,480 --> 00:16:42,600
Speaker 1: other country in the world. But there's no question that

296
00:16:42,720 --> 00:16:45,120
Speaker 1: is not perfect. And inflation is the number one issue

297
00:16:45,120 --> 00:16:49,280
Speaker 1: on my mind. We we save people's jobs, now we've

298
00:16:49,280 --> 00:16:52,200
Speaker 1: got to save their paychecks and make sure that the

299
00:16:52,280 --> 00:16:54,920
Speaker 1: dollars that you earn are dollars that you can spend,

300
00:16:54,960 --> 00:16:57,040
Speaker 1: and you know, just everything going up in price, and

301
00:16:57,080 --> 00:16:59,360
Speaker 1: you have confidence in the FED being able to make

302
00:16:59,400 --> 00:17:01,960
Speaker 1: that happen. Well, it's up to the FED. It's up

303
00:17:01,960 --> 00:17:03,720
Speaker 1: to others too. I mean, look, there's a lot of issues.

304
00:17:03,760 --> 00:17:06,480
Speaker 1: There's no question that the supply chain destructions continue to

305
00:17:06,480 --> 00:17:08,919
Speaker 1: be a major problem. I've just seen myself, you know,

306
00:17:09,000 --> 00:17:11,920
Speaker 1: the prices of things go up almost erratically, and that's

307
00:17:11,920 --> 00:17:14,560
Speaker 1: because we just don't have enough goods here in America.

308
00:17:14,640 --> 00:17:16,240
Speaker 1: So there are a lot of things that need to

309
00:17:16,280 --> 00:17:18,080
Speaker 1: be sorted out. But the FEDS, the big picks up

310
00:17:18,119 --> 00:17:20,320
Speaker 1: part of the picture, of course. Uh, they've got a

311
00:17:20,320 --> 00:17:23,120
Speaker 1: tough job. But there there's got some pretty smart people there,

312
00:17:23,160 --> 00:17:25,359
Speaker 1: so I think they're up to the town covers from Malton.

313
00:17:25,400 --> 00:17:27,280
Speaker 1: I know you traveled to Ukraine at the end of

314
00:17:27,359 --> 00:17:30,280
Speaker 1: last year and at the time you suggested that we

315
00:17:30,280 --> 00:17:33,159
Speaker 1: were not adequately planning for a possible invasion. Sometime has

316
00:17:33,160 --> 00:17:35,200
Speaker 1: passed here, and boy, we've been talking about this every

317
00:17:35,280 --> 00:17:38,160
Speaker 1: day too. Is the Biden administration now taking the right steps?

318
00:17:38,160 --> 00:17:41,400
Speaker 1: In your view? Where do we need We need more resources,

319
00:17:41,480 --> 00:17:44,440
Speaker 1: more troops and equipment in Eastern Europe And they are

320
00:17:44,480 --> 00:17:48,119
Speaker 1: taking the right steps. They're doing basically exactly what I prescribed.

321
00:17:48,600 --> 00:17:50,800
Speaker 1: I wish they had done this back in December when

322
00:17:50,800 --> 00:17:54,120
Speaker 1: I when I said this, uh, and not just now.

323
00:17:54,800 --> 00:17:57,680
Speaker 1: But we had a very encouraging briefing yesterday. I stay

324
00:17:57,800 --> 00:18:01,320
Speaker 1: encouraging because although the fich etuation is dire, I do

325
00:18:01,440 --> 00:18:04,760
Speaker 1: believe that the administration UM is fully aware of the

326
00:18:04,800 --> 00:18:07,720
Speaker 1: threat now and it's taking the kinds of steps that

327
00:18:07,760 --> 00:18:10,840
Speaker 1: we need to take now. The problem is that it's

328
00:18:10,880 --> 00:18:13,960
Speaker 1: taken a long time, and you can't just ship weapons

329
00:18:14,000 --> 00:18:17,000
Speaker 1: to Ukraine now if an invasion is imminent, because we

330
00:18:17,040 --> 00:18:18,919
Speaker 1: don't have enough time to train the troops and how

331
00:18:18,960 --> 00:18:21,199
Speaker 1: to use them. But we've got to really tighten the

332
00:18:21,240 --> 00:18:24,119
Speaker 1: economic sanctions package and make it very clear to Putin

333
00:18:24,400 --> 00:18:27,359
Speaker 1: that this will go into effect immediately if he pulls

334
00:18:27,359 --> 00:18:29,639
Speaker 1: the trigger on an invasion. And I think we should

335
00:18:29,680 --> 00:18:32,879
Speaker 1: also make a broader effort to communicate directly to the

336
00:18:32,920 --> 00:18:35,960
Speaker 1: Russian people. Prudent is worried about his people. He knows

337
00:18:36,040 --> 00:18:39,000
Speaker 1: that they don't need another war. They don't want another war.

338
00:18:39,400 --> 00:18:41,600
Speaker 1: We've got to make it clear directly to the Russian

339
00:18:41,640 --> 00:18:45,359
Speaker 1: people the cost of an invasion. I mean, look, Putin

340
00:18:45,400 --> 00:18:49,400
Speaker 1: has no problem trying to undermine our democracy. UH. Telling

341
00:18:49,440 --> 00:18:53,560
Speaker 1: lies directly to the American people through Facebook. We shouldn't

342
00:18:53,560 --> 00:18:56,480
Speaker 1: hesitate to tell the Russian people the truth. What was

343
00:18:56,520 --> 00:18:59,120
Speaker 1: it like to be in that room yesterday in the briefing?

344
00:19:00,040 --> 00:19:03,840
Speaker 1: Rismon were you're democratic and Republican colleagues surprised by what

345
00:19:03,880 --> 00:19:08,119
Speaker 1: they heard? They were surprised. Uh. Frankly, I was not.

346
00:19:08,320 --> 00:19:10,800
Speaker 1: I've been on top of this issue. Uh, and of

347
00:19:10,800 --> 00:19:13,560
Speaker 1: course was in Ukraine last month, so there was very

348
00:19:13,600 --> 00:19:16,399
Speaker 1: little new for me. But I heard a number of

349
00:19:16,440 --> 00:19:20,120
Speaker 1: gasps in the room when some of the brief first, uh,

350
00:19:20,200 --> 00:19:25,560
Speaker 1: you know, basically described the current situation and how dangerous

351
00:19:25,800 --> 00:19:29,520
Speaker 1: UH it is. And that was a good thing. It

352
00:19:29,600 --> 00:19:33,440
Speaker 1: was a good thing that the administration came a multiple secretary,

353
00:19:33,440 --> 00:19:37,520
Speaker 1: Secretary of Defense, Secretary of Homeland Security, Secretary of State,

354
00:19:37,880 --> 00:19:40,399
Speaker 1: UH came and gave us a very candid briefing. And

355
00:19:40,440 --> 00:19:43,320
Speaker 1: that's exactly what an administration should do with Congress. It's

356
00:19:43,320 --> 00:19:46,600
Speaker 1: a market change from the last four years where it

357
00:19:46,640 --> 00:19:49,440
Speaker 1: was hard to get anything, certainly anything truthful out of

358
00:19:49,440 --> 00:19:52,399
Speaker 1: the company administration. You mentioned sanctions. It's become a bit

359
00:19:52,440 --> 00:19:54,800
Speaker 1: of a partisan thing. Democrats want to wait until an

360
00:19:54,800 --> 00:19:58,040
Speaker 1: actual invasion. As I think you have just suggested, Republicans

361
00:19:58,080 --> 00:20:01,119
Speaker 1: say hit Putin now with something and hold on to

362
00:20:01,200 --> 00:20:03,520
Speaker 1: the rest for leverage later if he crosses the border.

363
00:20:04,440 --> 00:20:07,520
Speaker 1: Would there be a problem with the latter. It's it's

364
00:20:07,600 --> 00:20:11,160
Speaker 1: incredibly naive. If we put sanctions on Putin right now

365
00:20:12,080 --> 00:20:14,080
Speaker 1: there already there are you gonna say, well, we got

366
00:20:14,080 --> 00:20:17,440
Speaker 1: the sanctions already, so I might as well invade. Nothing

367
00:20:17,480 --> 00:20:20,120
Speaker 1: more is going to happen. So I think that's really

368
00:20:20,160 --> 00:20:22,480
Speaker 1: a stupid uh. I mean, what we need to do

369
00:20:22,600 --> 00:20:25,240
Speaker 1: is make it very clear to Putin that if he invades,

370
00:20:25,640 --> 00:20:29,440
Speaker 1: you will have massive punishing sanctions, and they'll be targeted.

371
00:20:29,440 --> 00:20:32,080
Speaker 1: They'll be targeted not at the Russian people, but at

372
00:20:32,119 --> 00:20:36,720
Speaker 1: you Putin, and you're all of our colleagues cronies. I

373
00:20:36,760 --> 00:20:39,520
Speaker 1: should say, we've got to make it very clear that

374
00:20:39,560 --> 00:20:41,840
Speaker 1: we're all united on these sanctions, but that they will

375
00:20:41,880 --> 00:20:45,280
Speaker 1: go into place if he invade. That's how we prevent

376
00:20:45,800 --> 00:20:48,440
Speaker 1: an invasion. Punishing him now doesn't do anything. In fact,

377
00:20:48,440 --> 00:20:50,399
Speaker 1: I think it might encourage them to a vase. You've

378
00:20:50,400 --> 00:20:53,520
Speaker 1: been in consultation with some of our allies, including Germany.

379
00:20:53,840 --> 00:20:56,040
Speaker 1: An important meeting at the White House on Monday. What

380
00:20:56,080 --> 00:20:58,639
Speaker 1: does President Biden need to tell Chancellor Schultz when they

381
00:20:58,640 --> 00:21:01,520
Speaker 1: meet on Monday. Well, I actually think that Germany is

382
00:21:01,560 --> 00:21:03,840
Speaker 1: a lot closer to us than the press makes out.

383
00:21:03,880 --> 00:21:06,640
Speaker 1: I mean, everyone wants to find divisions in the alliance,

384
00:21:06,680 --> 00:21:11,000
Speaker 1: no one more than Pudin. But I've spent several hours

385
00:21:11,040 --> 00:21:15,520
Speaker 1: with the German ambassador and multiple meetings over the past month,

386
00:21:16,080 --> 00:21:19,560
Speaker 1: and it's very clear that they are firmly a part

387
00:21:19,560 --> 00:21:22,199
Speaker 1: of NATO, firmly aligned with our goals, and they just

388
00:21:22,280 --> 00:21:25,600
Speaker 1: have some legitimate concerns about how some of these sanctions

389
00:21:25,680 --> 00:21:28,320
Speaker 1: and other things are implemented. I mean, I don't think

390
00:21:28,320 --> 00:21:32,720
Speaker 1: anyone would disagree that after Russia, Germany is likely to

391
00:21:32,760 --> 00:21:35,560
Speaker 1: suffer the most from any sanctions that we put in place,

392
00:21:35,640 --> 00:21:38,560
Speaker 1: so they want to make sure that they're implemented in

393
00:21:38,600 --> 00:21:41,080
Speaker 1: a way that don't hurt it doesn't hurt unnecessarily the

394
00:21:41,119 --> 00:21:45,080
Speaker 1: German people. Those are legitimate concerns, but let's let's be clear.

395
00:21:45,200 --> 00:21:48,440
Speaker 1: Germany is aligned with US. They don't want to see

396
00:21:48,480 --> 00:21:53,080
Speaker 1: Pudin invade Ukraine. They understand the implications for NATO and

397
00:21:53,160 --> 00:21:55,960
Speaker 1: all of our our allies in Europe, and so what

398
00:21:56,320 --> 00:21:59,360
Speaker 1: President Biden needs to do is make sure that they

399
00:21:59,400 --> 00:22:02,200
Speaker 1: are is a mind publicly as they have been behind

400
00:22:02,240 --> 00:22:05,159
Speaker 1: the scenes. It does beg the question, is it possible

401
00:22:06,080 --> 00:22:10,280
Speaker 1: to create punishing sanctions, as people like to say, against

402
00:22:10,400 --> 00:22:14,800
Speaker 1: Russia without also hurting Europe. It's very hard. It's very hard.

403
00:22:15,160 --> 00:22:17,520
Speaker 1: One of the reasons why this is complicated for Germany

404
00:22:17,560 --> 00:22:23,400
Speaker 1: is Germany actually has a history of overcomplying with American sanctions.

405
00:22:23,440 --> 00:22:26,960
Speaker 1: So when we put sanctions in the place, for example,

406
00:22:27,040 --> 00:22:32,000
Speaker 1: to UM directed that the Iranians, Um, the Germans were

407
00:22:32,040 --> 00:22:35,800
Speaker 1: so cautious this day, sometimes took measures they really weren't necessary,

408
00:22:35,840 --> 00:22:39,160
Speaker 1: but they just wanted to be doubly sure that they

409
00:22:39,200 --> 00:22:43,720
Speaker 1: weren't inadvertently violating any sanctions, perhaps Iranians who had accounts

410
00:22:43,720 --> 00:22:47,520
Speaker 1: in German banks or or whatever else. And so actually

411
00:22:47,520 --> 00:22:49,920
Speaker 1: that's a good thing, Um, But we need to work

412
00:22:49,960 --> 00:22:51,959
Speaker 1: hand in hand with the Germans to make sure they

413
00:22:52,000 --> 00:22:54,760
Speaker 1: understand exactly what they can and can't do, so that

414
00:22:54,880 --> 00:22:57,280
Speaker 1: we live up to the sanctions and they're punishing for Russia,

415
00:22:57,280 --> 00:23:01,160
Speaker 1: but they don't hurt the German people. What's the the strategy. Lastly,

416
00:23:01,200 --> 00:23:04,960
Speaker 1: Congressman for Vladimir Putin, obviously he's pushed this pretty far already.

417
00:23:04,960 --> 00:23:07,920
Speaker 1: How does he turn back or does the United States

418
00:23:07,960 --> 00:23:10,480
Speaker 1: have to provide that off ramp I'm not sure he knows.

419
00:23:11,160 --> 00:23:14,120
Speaker 1: And the challenge with his situation is that his demands

420
00:23:14,160 --> 00:23:17,280
Speaker 1: are completely unacceptable to the United States and to the

421
00:23:17,359 --> 00:23:19,879
Speaker 1: rest of the NATO. They're unacceptable to the free world.

422
00:23:20,440 --> 00:23:23,639
Speaker 1: He's trying to tell Ukraine what a cannon can't do

423
00:23:23,800 --> 00:23:26,680
Speaker 1: Ukraine as a sovereign nation, and if he gets away

424
00:23:26,720 --> 00:23:30,280
Speaker 1: with that, it's a terrible precedent, not just for NATO

425
00:23:30,400 --> 00:23:34,800
Speaker 1: and for Europe, but for the future democracy. Very huge

426
00:23:34,800 --> 00:23:38,280
Speaker 1: implications if Russia is successful here, and that's why we

427
00:23:38,320 --> 00:23:41,560
Speaker 1: have to prevent a war from happening. It's a time

428
00:23:41,600 --> 00:23:44,280
Speaker 1: to get very creative with diplomacy, and yes, we might

429
00:23:44,320 --> 00:23:47,120
Speaker 1: have to have a solution that helps him figure out

430
00:23:47,119 --> 00:23:49,880
Speaker 1: how to how to back off. But I also think

431
00:23:49,960 --> 00:23:52,879
Speaker 1: that he's underestimating how difficult this will be if he

432
00:23:52,960 --> 00:23:57,000
Speaker 1: does go in. My concern all along has been that

433
00:23:57,080 --> 00:24:00,520
Speaker 1: he can be very quickly effective with an invasion. He

434
00:24:00,600 --> 00:24:02,960
Speaker 1: does a full scale invasion, it will be more successful

435
00:24:03,000 --> 00:24:06,280
Speaker 1: than many people fear. But the flip side is that

436
00:24:06,320 --> 00:24:09,399
Speaker 1: if he tries to stay in Ukraine, He's going to

437
00:24:09,480 --> 00:24:12,560
Speaker 1: be in for a long, tough row and that's the

438
00:24:12,600 --> 00:24:14,920
Speaker 1: point that we need to make sure not only he

439
00:24:15,680 --> 00:24:20,159
Speaker 1: but the Russian people understand before they take that death.

440
00:24:20,400 --> 00:24:23,760
Speaker 1: Congressman Seth Molten, Democrat from Massachusetts, we thank you for

441
00:24:23,800 --> 00:24:27,360
Speaker 1: the insights. As always on Bloomberg. Thank you, Joe. It's

442
00:24:27,359 --> 00:24:30,159
Speaker 1: Bloomberg Sound On. I'm Joe Matthew in Washington, and we

443
00:24:30,200 --> 00:24:32,480
Speaker 1: reassemble the panel with some some more thoughts on what

444
00:24:32,560 --> 00:24:35,359
Speaker 1: we just heard from the Congressman. Jenny Chanzano and Rick

445
00:24:35,440 --> 00:24:37,359
Speaker 1: Davis are here. Rick, I know you disagree with the

446
00:24:37,560 --> 00:24:40,520
Speaker 1: Congressman on the issue of sanctions. I just wonder if

447
00:24:40,600 --> 00:24:43,520
Speaker 1: lawmakers are going to figure out their way through this.

448
00:24:43,600 --> 00:24:45,280
Speaker 1: We're not going to get a bill until that can

449
00:24:45,320 --> 00:24:48,719
Speaker 1: be determined, whether whether sanctions come now or after, you know,

450
00:24:48,880 --> 00:24:51,200
Speaker 1: a supposed invasion. Yeah. I don't think you can look

451
00:24:51,200 --> 00:24:54,399
Speaker 1: at this too simplistically. It's not either put sanctions on

452
00:24:54,400 --> 00:24:57,400
Speaker 1: now or you don't have them. Is leverage. There are

453
00:24:57,480 --> 00:24:59,760
Speaker 1: lots of sanctions that are being considered on Capitol Hill

454
00:24:59,800 --> 00:25:03,479
Speaker 1: and the Biden administration, and many of them are signal setting.

455
00:25:03,840 --> 00:25:07,600
Speaker 1: When you start clamping down on oli our money in Europe.

456
00:25:08,040 --> 00:25:10,679
Speaker 1: That's putting money in Europe. Now, that's probably not going

457
00:25:10,760 --> 00:25:15,240
Speaker 1: to have a negative effect on the UH Russian economy

458
00:25:15,320 --> 00:25:16,920
Speaker 1: right away, but it's going to send a signal to

459
00:25:16,960 --> 00:25:19,800
Speaker 1: putting it now we're going after you personally, right, that

460
00:25:19,920 --> 00:25:22,000
Speaker 1: may be the kind of thing that he's looking for

461
00:25:22,240 --> 00:25:25,359
Speaker 1: to see whether or not. Uh, it's another element of

462
00:25:25,440 --> 00:25:27,560
Speaker 1: question as to whether he wants to move across that.

463
00:25:27,680 --> 00:25:30,560
Speaker 1: Then that that sovereign point, it doesn't mean you then

464
00:25:30,640 --> 00:25:32,880
Speaker 1: don't follow up if he does move with many other

465
00:25:32,920 --> 00:25:36,920
Speaker 1: sanctions that actually have a negative impact on the Russian economy.

466
00:25:36,960 --> 00:25:39,440
Speaker 1: So your thought on that is, well, Genie, I don't

467
00:25:39,480 --> 00:25:42,040
Speaker 1: know if you're if you're completely in the democratic camp

468
00:25:42,560 --> 00:25:44,840
Speaker 1: of of that, you know, to the Congressman's point, a

469
00:25:44,880 --> 00:25:48,120
Speaker 1: stupid idea to do anything up front now. But if

470
00:25:48,160 --> 00:25:51,239
Speaker 1: we don't and there is no invasion, this could go

471
00:25:51,320 --> 00:25:53,639
Speaker 1: on for months or years. With this build up on

472
00:25:53,680 --> 00:25:56,720
Speaker 1: the Ukrainian border and the tensions that are rippling through

473
00:25:56,760 --> 00:26:00,479
Speaker 1: Eastern European economies, something's got to be done, right. I

474
00:26:00,520 --> 00:26:03,360
Speaker 1: think the reality is that this is going to go

475
00:26:03,440 --> 00:26:05,800
Speaker 1: on for years, and it's going to go on for years,

476
00:26:05,840 --> 00:26:08,199
Speaker 1: not just as it pertains to Russian and Ukraine, and

477
00:26:08,240 --> 00:26:11,679
Speaker 1: that's you know enough, but as it pertains to China

478
00:26:11,760 --> 00:26:14,720
Speaker 1: as well. I mean, I was so struck by the

479
00:26:14,760 --> 00:26:17,959
Speaker 1: picture of g and putting together and the statement they

480
00:26:18,040 --> 00:26:22,320
Speaker 1: released about this deep strategic relationship they're forming. This is

481
00:26:22,400 --> 00:26:24,880
Speaker 1: a new approach for China. It wasn't that long ago

482
00:26:24,960 --> 00:26:28,640
Speaker 1: they kept out of the uh you know, issues involving

483
00:26:28,640 --> 00:26:31,920
Speaker 1: other countries. Now they're saying they are vowing to jointly

484
00:26:33,080 --> 00:26:36,879
Speaker 1: address regional threats and challenges to their borders. This is

485
00:26:36,920 --> 00:26:40,680
Speaker 1: a remarkable show of unity for these two and I

486
00:26:40,720 --> 00:26:44,520
Speaker 1: think to your point, this means that even if we

487
00:26:44,560 --> 00:26:47,720
Speaker 1: do sanctions now or later, and certainly I'm supportive of sanctions,

488
00:26:47,720 --> 00:26:49,439
Speaker 1: and I could see both sides whether you do an

489
00:26:49,480 --> 00:26:52,840
Speaker 1: hour or later. But this is going to continue regardless,

490
00:26:52,880 --> 00:26:55,439
Speaker 1: and it's going to build because this is truly the

491
00:26:55,480 --> 00:26:59,119
Speaker 1: East versus the West at this point, or the authoritarians

492
00:26:59,240 --> 00:27:01,920
Speaker 1: versus the democrat and it's going to continue time to

493
00:27:02,960 --> 00:27:05,399
Speaker 1: time to renew the access of evil. I think was

494
00:27:05,440 --> 00:27:08,040
Speaker 1: your suggestion here, Rick, a couple of days ago. This

495
00:27:08,119 --> 00:27:11,600
Speaker 1: is coinciding with the opening of the Olympics. A lot

496
00:27:11,600 --> 00:27:14,080
Speaker 1: of your Putin's there for the party does that mean

497
00:27:14,080 --> 00:27:16,760
Speaker 1: nothing happens in this standoff for the next two weeks.

498
00:27:17,200 --> 00:27:18,800
Speaker 1: You know, I don't know if nothing happens. I mean

499
00:27:18,800 --> 00:27:22,680
Speaker 1: they're obviously still sending troops to the border from Russia. Uh,

500
00:27:22,720 --> 00:27:26,359
Speaker 1: They're they're beefing up. They're probably uh doing all kinds

501
00:27:26,400 --> 00:27:31,200
Speaker 1: of cyber attacks on entities within Ukraine. So they're they're

502
00:27:31,200 --> 00:27:34,560
Speaker 1: continuing to play their hand. I think Putin is very

503
00:27:34,560 --> 00:27:37,199
Speaker 1: skilled at putting on a public face of you know,

504
00:27:37,240 --> 00:27:39,560
Speaker 1: being a world leader and trying to you know, fit

505
00:27:39,600 --> 00:27:42,240
Speaker 1: into the in crowd. Uh, and at the same time,

506
00:27:42,320 --> 00:27:44,639
Speaker 1: you know, you know, pretending to be a KGB agent

507
00:27:44,680 --> 00:27:48,080
Speaker 1: all over again. I would say it was scary, as

508
00:27:48,200 --> 00:27:51,480
Speaker 1: as Jeannie said, to watch the two of them today, uh,

509
00:27:51,520 --> 00:27:55,720
Speaker 1: and especially in the opening ceremonies when when the Chinese

510
00:27:55,960 --> 00:28:00,159
Speaker 1: had the Eiger athlete light the flame. The level of

511
00:28:00,280 --> 00:28:05,959
Speaker 1: cynicism around that was was incredible to me. And it

512
00:28:06,040 --> 00:28:09,359
Speaker 1: really does, I think, form a black cloud over the

513
00:28:09,359 --> 00:28:12,160
Speaker 1: Olympic Committee for allowing these kinds of things to happen. Man,

514
00:28:12,280 --> 00:28:14,880
Speaker 1: should the US have done a real boycott, then Genie,

515
00:28:15,240 --> 00:28:19,440
Speaker 1: no government, also no athletes. I have long thought that

516
00:28:19,480 --> 00:28:22,600
Speaker 1: to deny the athletes the ability We've been there before.

517
00:28:22,880 --> 00:28:25,840
Speaker 1: I don't think that's effective. I think let the athletes go,

518
00:28:26,080 --> 00:28:28,679
Speaker 1: let them, you know, live their dream out. But I

519
00:28:28,720 --> 00:28:31,879
Speaker 1: do think they were right in terms of the governmental boycott,

520
00:28:31,920 --> 00:28:34,320
Speaker 1: and I think it's important for the government officials to

521
00:28:34,320 --> 00:28:37,280
Speaker 1: speak out. I agree with Nancy Pelosi that the athletes

522
00:28:37,359 --> 00:28:40,920
Speaker 1: should not get involved in that because the repercussions there

523
00:28:40,960 --> 00:28:43,880
Speaker 1: can be tremendous on them personally. You agree with that, Rick,

524
00:28:43,920 --> 00:28:46,120
Speaker 1: They the White House used the word genocide and the

525
00:28:46,160 --> 00:28:49,040
Speaker 1: statement saying that our officials would not be attending. Yeah,

526
00:28:49,080 --> 00:28:51,080
Speaker 1: I mean, we got to call it what it is.

527
00:28:51,120 --> 00:28:54,280
Speaker 1: I mean, the idea that they would perform genocide on

528
00:28:54,360 --> 00:28:57,800
Speaker 1: the Iger population and then use an Iger to light

529
00:28:57,800 --> 00:29:01,920
Speaker 1: the flame is a real thumbnose at the entire world.

530
00:29:02,120 --> 00:29:04,720
Speaker 1: And and and it's up to not just us, but

531
00:29:04,840 --> 00:29:09,560
Speaker 1: other countries who hold our values dear to to to

532
00:29:09,680 --> 00:29:11,400
Speaker 1: make a stink out of this right. I mean, like

533
00:29:11,440 --> 00:29:14,520
Speaker 1: I hate to spoil a good party. I was amazed

534
00:29:14,520 --> 00:29:18,080
Speaker 1: by the technological entertainment that they put on. That is

535
00:29:18,120 --> 00:29:21,760
Speaker 1: not enough to excuse a regime that is performing genocide.

536
00:29:22,920 --> 00:29:26,000
Speaker 1: Rick Davis g de Chanzano our panel on a Friday.

537
00:29:26,160 --> 00:29:28,520
Speaker 1: As we talked things out this hour on Joe Matthew

538
00:29:28,560 --> 00:29:32,640
Speaker 1: and Washington will continue the conversation next with Congressman Bryan Style,

539
00:29:32,680 --> 00:29:36,560
Speaker 1: Republican from Wisconsin. The lowest estimate on the Bloomberg terminal

540
00:29:36,560 --> 00:29:39,040
Speaker 1: for today's jobs report when I checked earlier this week,

541
00:29:39,200 --> 00:29:42,120
Speaker 1: we talked about this on the year then was negative

542
00:29:42,200 --> 00:29:46,720
Speaker 1: four hundred and something thousand. I think, Dan, that's actually

543
00:29:46,720 --> 00:29:50,760
Speaker 1: how bad some people thought this would be. Austin Gulsby

544
00:29:50,800 --> 00:29:53,520
Speaker 1: told as Tuesday could be negative. We saw headlines on

545
00:29:53,560 --> 00:29:57,160
Speaker 1: axios prepared for the first negative headline number of the

546
00:29:57,160 --> 00:29:59,720
Speaker 1: Biden administration, and then we saw what we got. We've

547
00:29:59,720 --> 00:30:03,880
Speaker 1: been talking about it all our confounding a lot of

548
00:30:03,880 --> 00:30:07,920
Speaker 1: people who do the surveys and making us wonder exactly

549
00:30:07,920 --> 00:30:10,080
Speaker 1: how much juice is in this economy, and now it's

550
00:30:10,080 --> 00:30:12,520
Speaker 1: all going to collide with interest rate hikes in the

551
00:30:12,560 --> 00:30:16,480
Speaker 1: coming months. Joining us to discuss all of this, Representative

552
00:30:16,520 --> 00:30:19,880
Speaker 1: Bryant Style, Republican from Wisconsin, it's great to have you

553
00:30:19,920 --> 00:30:23,440
Speaker 1: with us, Congressman. Were you impressed with this number? Were

554
00:30:23,440 --> 00:30:26,560
Speaker 1: you concerned about the wages underneath the hood? How do

555
00:30:26,600 --> 00:30:30,800
Speaker 1: you interpret such a surprising bit of data. I think

556
00:30:30,800 --> 00:30:32,640
Speaker 1: it's surprising for all of us. I think it makes

557
00:30:32,680 --> 00:30:34,800
Speaker 1: all of us all the more interested to see the

558
00:30:34,840 --> 00:30:37,240
Speaker 1: February numbers when those come out in about four weeks

559
00:30:37,320 --> 00:30:39,880
Speaker 1: from now. I think there's a lot of questions that's

560
00:30:39,920 --> 00:30:42,960
Speaker 1: in this data. I think one of it is was

561
00:30:43,080 --> 00:30:46,440
Speaker 1: January a tale of two months? Obviously Amicron came on strong,

562
00:30:46,800 --> 00:30:50,040
Speaker 1: but we're seeing indications the labor market is robust, and

563
00:30:50,080 --> 00:30:53,360
Speaker 1: I think, if anything, it's telling policymakers in Washington, d

564
00:30:53,440 --> 00:30:56,000
Speaker 1: CE like myself that now is really the time to

565
00:30:56,080 --> 00:30:59,120
Speaker 1: rip the band aid off the COVID era policies. In

566
00:30:59,240 --> 00:31:01,560
Speaker 1: return to Norm Moll, we have to get our inflation

567
00:31:01,640 --> 00:31:04,200
Speaker 1: under control, we have to get our spending under control

568
00:31:04,200 --> 00:31:06,560
Speaker 1: in Washington, and I think what the workforce is saying

569
00:31:06,640 --> 00:31:08,680
Speaker 1: is there ready to get back to work and return

570
00:31:08,720 --> 00:31:12,520
Speaker 1: to normal. The American Rescue plan is already out there, right,

571
00:31:12,600 --> 00:31:16,360
Speaker 1: We've the infrastructure is law, build back better fell apart, Congressman,

572
00:31:16,400 --> 00:31:18,960
Speaker 1: as you well know what else is out there that

573
00:31:19,000 --> 00:31:22,800
Speaker 1: you roll back, Well, I think you look at the

574
00:31:22,920 --> 00:31:25,400
Speaker 1: vast amount of money that's still to come through from

575
00:31:25,600 --> 00:31:29,320
Speaker 1: the earlier approved COVID package that was earlier this year.

576
00:31:29,520 --> 00:31:32,000
Speaker 1: The infrastructure money is still going to go through Nancy

577
00:31:32,000 --> 00:31:34,840
Speaker 1: Pelosi continues to say that she's going to push for

578
00:31:35,000 --> 00:31:38,240
Speaker 1: smaller versions of build back better. And at the same time,

579
00:31:38,240 --> 00:31:41,080
Speaker 1: we've had what I believe as a challenging monetary policy.

580
00:31:41,160 --> 00:31:44,160
Speaker 1: The Federal Reserve has increased its balance sheet by four

581
00:31:44,320 --> 00:31:47,560
Speaker 1: trillion dollars over the last two years and increased by

582
00:31:47,640 --> 00:31:50,920
Speaker 1: roughly a hundred billion dollars over the last two months.

583
00:31:51,280 --> 00:31:52,880
Speaker 1: And so I think the Federal Reserve is going to

584
00:31:52,960 --> 00:31:55,120
Speaker 1: be coming in late to the game as they taper

585
00:31:55,160 --> 00:31:57,719
Speaker 1: this off in raised interest rates, and I'm concerned that

586
00:31:57,720 --> 00:32:00,720
Speaker 1: that's gonna put significant pressure on the economy. I would

587
00:32:00,720 --> 00:32:02,880
Speaker 1: have liked to have seen us taper that sooner. I've

588
00:32:02,880 --> 00:32:06,239
Speaker 1: spoken with Chairman Powell at some of our federally some

589
00:32:06,280 --> 00:32:09,040
Speaker 1: of our financial services meetings on that topic. Yeah. I

590
00:32:09,040 --> 00:32:11,479
Speaker 1: asked Jeane Spirling earlier this week if he was worried

591
00:32:11,600 --> 00:32:15,240
Speaker 1: about stagflation as a possibility. We've been talking a lot

592
00:32:15,280 --> 00:32:17,680
Speaker 1: about as well, the potential for you know, hitting the

593
00:32:17,720 --> 00:32:20,720
Speaker 1: gas a little too hard and and ending this whole

594
00:32:20,720 --> 00:32:24,959
Speaker 1: thing in a recession. Uh, that's I think where you're going, Congressman.

595
00:32:25,120 --> 00:32:27,480
Speaker 1: I guess you're you're not in favor of a fifty

596
00:32:27,480 --> 00:32:31,280
Speaker 1: basis point hike next month. Well, I think it's going

597
00:32:31,320 --> 00:32:33,680
Speaker 1: to be coming because we do have to tame these

598
00:32:33,800 --> 00:32:36,480
Speaker 1: rising prices. I'm frustrated that we're in the position in

599
00:32:36,480 --> 00:32:39,800
Speaker 1: the first place, and I believe policymakers led us there

600
00:32:39,840 --> 00:32:42,640
Speaker 1: with a combination of the fiscal policy with the excess

601
00:32:42,680 --> 00:32:46,440
Speaker 1: of spending in Washington, combined with the monetary policy by

602
00:32:46,440 --> 00:32:48,920
Speaker 1: the dramatic increase in the balance sheet at the FED.

603
00:32:49,360 --> 00:32:51,200
Speaker 1: So you start with a good shock to the system

604
00:32:51,280 --> 00:32:53,080
Speaker 1: fifty in March, and then you follow it up with

605
00:32:53,120 --> 00:32:57,040
Speaker 1: a few quarter point hikes. Does that make you comfortable? Well,

606
00:32:57,080 --> 00:32:58,840
Speaker 1: I think what we're going to see is the FED

607
00:32:58,880 --> 00:33:01,640
Speaker 1: act in that behavior. From a policy maker standpoint, I

608
00:33:01,640 --> 00:33:04,200
Speaker 1: think it's essentil in Washington that we get control on

609
00:33:04,240 --> 00:33:07,680
Speaker 1: the spending side. We continue to see proposals for future

610
00:33:07,720 --> 00:33:11,280
Speaker 1: spending again, Speaker Pelosi and some on the left continue

611
00:33:11,320 --> 00:33:14,600
Speaker 1: to push for smaller versions, build back better. I think

612
00:33:14,640 --> 00:33:17,280
Speaker 1: now is the moment to really stop that and really

613
00:33:17,280 --> 00:33:20,320
Speaker 1: get back to work of getting our fiscal house in order.

614
00:33:20,640 --> 00:33:24,200
Speaker 1: Policy making, let's talk about that in terms of the budget. Here,

615
00:33:24,240 --> 00:33:27,000
Speaker 1: my god, to think that this actually gets done. I

616
00:33:27,080 --> 00:33:29,400
Speaker 1: understand there's a likelihood you can tell me as a

617
00:33:29,400 --> 00:33:32,280
Speaker 1: member of the Financial Services Committee of a continuing resolution.

618
00:33:32,280 --> 00:33:35,000
Speaker 1: But it looks like we're pretty close here. How close

619
00:33:35,040 --> 00:33:37,680
Speaker 1: are we to having an actual omnibus budget to to

620
00:33:37,680 --> 00:33:41,760
Speaker 1: to pay for this government to operate? Well, there's it

621
00:33:41,800 --> 00:33:44,239
Speaker 1: goes back and forth every day. The question is going

622
00:33:44,280 --> 00:33:46,560
Speaker 1: to be when do the gate get sixty votes in

623
00:33:46,560 --> 00:33:50,200
Speaker 1: the Senate. We've continued, Congress has continued to kick the

624
00:33:50,240 --> 00:33:53,360
Speaker 1: can down the road. Fending funding once again runs out

625
00:33:53,680 --> 00:33:56,760
Speaker 1: on February eighteenth, just a week, just a week and

626
00:33:56,760 --> 00:33:59,160
Speaker 1: a half away. The House of Representatives is only in

627
00:33:59,240 --> 00:34:02,440
Speaker 1: session for three more days between now in that day,

628
00:34:02,520 --> 00:34:07,080
Speaker 1: So I'm Congress is gonna well through three more days,

629
00:34:07,640 --> 00:34:09,719
Speaker 1: three more days of session between now and that date,

630
00:34:09,760 --> 00:34:12,600
Speaker 1: which gives me concerned that Congress, instead of getting the

631
00:34:12,640 --> 00:34:14,719
Speaker 1: work done, is going to kick the can down the road.

632
00:34:14,840 --> 00:34:17,879
Speaker 1: It's better than shutting the government down, but it's absolutely

633
00:34:17,920 --> 00:34:19,840
Speaker 1: no way to run a railroad. Well, if it's a

634
00:34:19,840 --> 00:34:21,840
Speaker 1: couple of weeks though, they actually get this done. But

635
00:34:21,880 --> 00:34:23,279
Speaker 1: you have a better view than we do. What are

636
00:34:23,280 --> 00:34:25,680
Speaker 1: you seeing behind the scenes in terms of you know,

637
00:34:25,719 --> 00:34:29,040
Speaker 1: the odds for a breakthrough, even if it's between Democrats

638
00:34:29,040 --> 00:34:31,879
Speaker 1: in the House and Senate. Is this thing close well?

639
00:34:31,920 --> 00:34:34,319
Speaker 1: Out of the twelve major spending bills, I think there's

640
00:34:34,320 --> 00:34:36,960
Speaker 1: an opportunity to at least get some of them across

641
00:34:37,000 --> 00:34:39,040
Speaker 1: the line. I think the most important of all of

642
00:34:39,080 --> 00:34:43,560
Speaker 1: them is our national defense. We're operating under policies from

643
00:34:43,560 --> 00:34:47,440
Speaker 1: over two years ago that we're put into the spending bills.

644
00:34:47,560 --> 00:34:50,360
Speaker 1: We are in a very new environment now as we

645
00:34:50,440 --> 00:34:53,279
Speaker 1: look at the threats occurring from Russia, as we have

646
00:34:53,400 --> 00:34:57,120
Speaker 1: already now exited Afghanistan. So one of the most important

647
00:34:57,120 --> 00:34:59,480
Speaker 1: spending bills is going to be on the national defense.

648
00:34:59,640 --> 00:35:03,359
Speaker 1: Can get that through with some others, I'm optimistic on that.

649
00:35:03,440 --> 00:35:05,919
Speaker 1: I'm less optimistic that we will see a full out

650
00:35:05,960 --> 00:35:08,160
Speaker 1: of us for a full complete rewrite of the spending

651
00:35:08,520 --> 00:35:11,239
Speaker 1: uh and and coming up yet in the near future. Wait,

652
00:35:11,320 --> 00:35:13,640
Speaker 1: it still would be you know, just at least a

653
00:35:13,719 --> 00:35:17,759
Speaker 1: moment of of government being caught in the act of

654
00:35:17,840 --> 00:35:21,040
Speaker 1: working right. To see this thing pass, hopefully with Democrats

655
00:35:21,040 --> 00:35:24,520
Speaker 1: and Republicans Congressman, would be refreshing for a lot of Americans.

656
00:35:25,640 --> 00:35:28,799
Speaker 1: So absolutely, there's a lot of policies that we have

657
00:35:28,840 --> 00:35:31,160
Speaker 1: to take into account that we're not in place when

658
00:35:31,160 --> 00:35:34,280
Speaker 1: the last spending bill went through. The question is can

659
00:35:34,320 --> 00:35:37,960
Speaker 1: we actually break through the dysfunction in Washington which has

660
00:35:38,000 --> 00:35:41,080
Speaker 1: really seen one party rule In my opinion, go ustra Astraight,

661
00:35:41,400 --> 00:35:44,040
Speaker 1: Can I ask you about what happened today in the

662
00:35:44,520 --> 00:35:49,680
Speaker 1: National Republican Conference centering your colleagues, Representative Kinsinger and Cheney,

663
00:35:49,760 --> 00:35:52,080
Speaker 1: the r n C making that move. Do you support it?

664
00:35:53,239 --> 00:35:54,919
Speaker 1: You know? I I look at all of the talk

665
00:35:55,000 --> 00:35:57,799
Speaker 1: on this and think this is the distraction that frustrates

666
00:35:57,840 --> 00:35:59,759
Speaker 1: so many people that I talked to at home in

667
00:36:00,000 --> 00:36:02,920
Speaker 1: southeast Wisconsin. They want to see people get on with

668
00:36:02,960 --> 00:36:04,960
Speaker 1: the work of governing. They want to see us get

669
00:36:05,000 --> 00:36:07,560
Speaker 1: control of our spending. They want to see let's get

670
00:36:07,600 --> 00:36:10,960
Speaker 1: crime under control, secure the southern border, et cetera. This

671
00:36:11,040 --> 00:36:14,120
Speaker 1: is the dysfunction in Washington, kind of writ large. I'd

672
00:36:14,200 --> 00:36:15,960
Speaker 1: rather see us get focused on with the work in

673
00:36:15,960 --> 00:36:19,359
Speaker 1: front of us. So distractions, certainly, but did they deserve it?

674
00:36:20,680 --> 00:36:23,120
Speaker 1: I mean, I think whether or not you get censored

675
00:36:23,239 --> 00:36:25,080
Speaker 1: or not by any of these groups, I think it's

676
00:36:25,200 --> 00:36:27,680
Speaker 1: more or less at this point irrelevant. I think it's

677
00:36:27,719 --> 00:36:29,320
Speaker 1: time to get on with the work for the American

678
00:36:29,360 --> 00:36:31,960
Speaker 1: people and get away from the distractions and the petty

679
00:36:32,000 --> 00:36:35,680
Speaker 1: politics that we see in Washington. Congressman Bryant style Republican

680
00:36:35,760 --> 00:36:39,359
Speaker 1: from Wisconsin. He serves on the Financial Services Committee and

681
00:36:39,400 --> 00:36:43,040
Speaker 1: talking budgets, jobs, and politics with us on a Friday. Congressman,

682
00:36:43,080 --> 00:36:46,520
Speaker 1: thanks for coming into Bloomberg sound On talking with us.

683
00:36:47,440 --> 00:36:50,120
Speaker 1: Sometimes you forget you're on the radio on this program,

684
00:36:50,200 --> 00:36:52,439
Speaker 1: right Ask Rick and Genie. They'll be back in a minute.

685
00:36:52,480 --> 00:36:56,000
Speaker 1: We reassemble the panel. Next Bloomberg Politics contributors Genie Chantano,

686
00:36:56,080 --> 00:36:59,759
Speaker 1: Rick Davis, as we share some final thoughts on that

687
00:37:00,000 --> 00:37:03,640
Speaker 1: matter with the r n C Centering Liz Cheney and

688
00:37:03,719 --> 00:37:08,960
Speaker 1: Representative Kinsinger today, as expected, it did happen, and we'll

689
00:37:09,000 --> 00:37:10,759
Speaker 1: take a look at what's coming next week as well

690
00:37:10,760 --> 00:37:12,920
Speaker 1: with Rick and Genie. Next, Traffic of the markets on

691
00:37:12,960 --> 00:37:19,000
Speaker 1: the way. This is Bloomberg. You're listening to Bloomberg Sound

692
00:37:19,080 --> 00:37:25,520
Speaker 1: On with Joe Matthew on Bloomberg Radio. So yeah, the

693
00:37:25,640 --> 00:37:29,200
Speaker 1: r n C made some news today, certainly with the

694
00:37:29,280 --> 00:37:34,520
Speaker 1: Center of Representatives Liz Cheney in Adam Kinsinger essentially for

695
00:37:34,600 --> 00:37:38,319
Speaker 1: their roles in the January six Selects Committee. Of course,

696
00:37:38,360 --> 00:37:41,759
Speaker 1: the only two Republicans. They approved the resolution. As we

697
00:37:41,880 --> 00:37:46,040
Speaker 1: hear from the chair of the r n C. RNA McDaniel,

698
00:37:46,080 --> 00:37:48,200
Speaker 1: who was this is as the r n C votes

699
00:37:48,239 --> 00:37:51,279
Speaker 1: on five resolutions together, including the center, this is what

700
00:37:51,320 --> 00:37:54,279
Speaker 1: it sounded like today. All of those in favor of

701
00:37:54,320 --> 00:37:57,919
Speaker 1: the motion police signified by saying I, all of those

702
00:37:57,920 --> 00:38:01,400
Speaker 1: of pollows signified by saying no, the eyes have it,

703
00:38:01,440 --> 00:38:07,480
Speaker 1: and the five resolutions are adopted. Have it badge of

704
00:38:07,520 --> 00:38:09,920
Speaker 1: honor maybe for Cheney and Kinsinger, But this is the

705
00:38:10,040 --> 00:38:13,240
Speaker 1: r n C we're talking about. We reassemble the panel

706
00:38:13,320 --> 00:38:16,840
Speaker 1: for their thoughts on this. Rick Davis, Jeanie Schanzano, Is

707
00:38:16,840 --> 00:38:19,840
Speaker 1: that the RNC that you know, Rick, Well, that's the

708
00:38:19,960 --> 00:38:22,480
Speaker 1: RNC I know today. It's certainly not the RNC that

709
00:38:22,520 --> 00:38:26,520
Speaker 1: I came into at the beginning of the Reagan administration. Look,

710
00:38:26,560 --> 00:38:28,680
Speaker 1: I mean, this is a different r n C. I

711
00:38:28,719 --> 00:38:30,839
Speaker 1: think the mistake that some people are making and and

712
00:38:30,840 --> 00:38:33,840
Speaker 1: and frankly even Liz Cheney and her remarks today is

713
00:38:33,880 --> 00:38:38,880
Speaker 1: that they're not being uh influenced by Donald Trump. They

714
00:38:39,000 --> 00:38:41,720
Speaker 1: are worse than Donald Trump. I mean, over the last

715
00:38:41,760 --> 00:38:44,839
Speaker 1: four years, state party chairman have been weeded out who

716
00:38:44,920 --> 00:38:48,239
Speaker 1: had any independence from Bald Trump and and those that

717
00:38:48,440 --> 00:38:53,560
Speaker 1: actually believe in all the conspiracy theories and are driving

718
00:38:53,600 --> 00:38:56,840
Speaker 1: Trump to this supporting level. Are the ones who are

719
00:38:56,880 --> 00:38:59,719
Speaker 1: the state party chairman's, the National Committee men and committee women,

720
00:39:00,120 --> 00:39:03,120
Speaker 1: and and and so It's it's not like Trump has

721
00:39:03,200 --> 00:39:05,839
Speaker 1: so much influence over them. They're already there. I mean,

722
00:39:05,840 --> 00:39:09,000
Speaker 1: if you took Trump out today, they'd still be in

723
00:39:09,040 --> 00:39:12,279
Speaker 1: this position of doing these kinds of crazy things and

724
00:39:12,280 --> 00:39:15,120
Speaker 1: and frankly driving a lot of Republicans to the point

725
00:39:15,120 --> 00:39:17,239
Speaker 1: where they're wondering, Wow, I do I really want to

726
00:39:17,239 --> 00:39:20,920
Speaker 1: associate with a party that thinks January six was somehow

727
00:39:21,280 --> 00:39:24,400
Speaker 1: legitimate political discourse and it's just hard to deal with.

728
00:39:25,400 --> 00:39:28,240
Speaker 1: Is referring to the resolution that reads, quote, they chose

729
00:39:28,280 --> 00:39:31,200
Speaker 1: to join Nancy Pelosi and a Democrat led persecution of

730
00:39:31,320 --> 00:39:35,480
Speaker 1: ordinary citizens who engaged in legitimate political discourse, but had

731
00:39:35,480 --> 00:39:38,440
Speaker 1: nothing to do with the violence at the capital unquote. Uh.

732
00:39:38,480 --> 00:39:40,320
Speaker 1: And and by the way, you know, we we we

733
00:39:40,360 --> 00:39:43,200
Speaker 1: should note it also referred to senseless acts of violence

734
00:39:43,200 --> 00:39:46,000
Speaker 1: that condemned them. It it said that, but however, the

735
00:39:46,080 --> 00:39:50,520
Speaker 1: rest had nothing to do with violence at the capitol. Uh.

736
00:39:50,640 --> 00:39:53,759
Speaker 1: Liz Jeney Genie had quite a response that included a

737
00:39:53,880 --> 00:39:58,120
Speaker 1: video of violence you know at the Capitol on January six? Uh?

738
00:39:58,280 --> 00:40:02,759
Speaker 1: Does this pop up Liz Cheney and Adam Kinzinger for

739
00:40:02,800 --> 00:40:05,200
Speaker 1: a much more robust political career down the road. Gene,

740
00:40:06,080 --> 00:40:08,879
Speaker 1: you know, I don't know in the Republican Party as

741
00:40:08,880 --> 00:40:11,480
Speaker 1: it stands today, and I just want to underscore what

742
00:40:11,640 --> 00:40:14,600
Speaker 1: Rick just said. I think that's truly the scary part

743
00:40:14,640 --> 00:40:17,640
Speaker 1: of this is that if Trump wasn't in the picture

744
00:40:17,800 --> 00:40:21,920
Speaker 1: from today onward, this would still be going on. And

745
00:40:22,120 --> 00:40:25,640
Speaker 1: in a country in which we have two big umbrella parties,

746
00:40:25,960 --> 00:40:28,400
Speaker 1: to have one move in this direction, to be talking

747
00:40:28,440 --> 00:40:33,000
Speaker 1: about the January six instruction as legitimate political discourse, and

748
00:40:33,080 --> 00:40:35,480
Speaker 1: let's not forget this was a watered down version of

749
00:40:35,480 --> 00:40:38,520
Speaker 1: what they originally tended to do, which were intended to do,

750
00:40:38,560 --> 00:40:41,120
Speaker 1: which was they had they had called for expulsion of

751
00:40:41,160 --> 00:40:43,640
Speaker 1: these people, and then they moved it back to a

752
00:40:43,719 --> 00:40:47,640
Speaker 1: censure which obviously has no real force. And I think

753
00:40:47,640 --> 00:40:51,360
Speaker 1: credit is due two people like Mitt Romney who called

754
00:40:51,400 --> 00:40:54,480
Speaker 1: this shameful and its headlining of March fundraiser for Cheney

755
00:40:54,480 --> 00:40:58,240
Speaker 1: and Wyoming. I think all I should be on Kevin McCarthy.

756
00:40:58,280 --> 00:41:01,480
Speaker 1: We heard in your interview was sinated with representative style.

757
00:41:01,560 --> 00:41:03,640
Speaker 1: He didn't want to touch this with a ten foot poll.

758
00:41:03,960 --> 00:41:06,200
Speaker 1: But what they do in there, are they going to

759
00:41:06,280 --> 00:41:10,239
Speaker 1: join the rn C and supporting Liz Cheneese opponent in

760
00:41:10,320 --> 00:41:13,120
Speaker 1: the primary out there? That is what I'm going to

761
00:41:13,200 --> 00:41:16,400
Speaker 1: be watching as we go forward, because that is gonna

762
00:41:16,480 --> 00:41:19,759
Speaker 1: tell us where the Republican Party is head headed and

763
00:41:19,800 --> 00:41:23,200
Speaker 1: for a party that, by by any historical estimation, should

764
00:41:23,239 --> 00:41:25,560
Speaker 1: pick up a lot of seats in the fall. If

765
00:41:25,600 --> 00:41:28,440
Speaker 1: they walk in this direction, they're threatening their own ability

766
00:41:28,520 --> 00:41:31,600
Speaker 1: to do that, just like they did with the Georgia

767
00:41:31,680 --> 00:41:35,080
Speaker 1: Senate seats. What did you make of Congressman styles response

768
00:41:35,360 --> 00:41:37,600
Speaker 1: to that? I asked him twice, Rick, Yeah, I mean

769
00:41:37,640 --> 00:41:39,759
Speaker 1: as a non response, And I don't blame him. I

770
00:41:39,760 --> 00:41:42,680
Speaker 1: mean almost every one of these members of Congress and

771
00:41:42,760 --> 00:41:45,319
Speaker 1: senators and even many of the governors, they don't want

772
00:41:45,360 --> 00:41:48,560
Speaker 1: anything to do with the GOP leadership that's in their state, right.

773
00:41:48,600 --> 00:41:52,239
Speaker 1: I mean, they've all lurched to the populist fringe uh

774
00:41:52,280 --> 00:41:55,080
Speaker 1: in virtually every state and the Union, fueled by lots

775
00:41:55,120 --> 00:41:57,840
Speaker 1: of money from the Trump organization over the last four years,

776
00:41:58,440 --> 00:42:01,800
Speaker 1: and and nobody wants to attend their events. Nobody of

777
00:42:01,880 --> 00:42:06,960
Speaker 1: any you know, real capacity participates in state party politics anymore.

778
00:42:07,000 --> 00:42:08,560
Speaker 1: I mean it's a shame for the party. I mean

779
00:42:08,560 --> 00:42:12,080
Speaker 1: I spent thirty years building this party myself and doing

780
00:42:12,080 --> 00:42:13,799
Speaker 1: what I could to help support it and to see

781
00:42:13,840 --> 00:42:16,400
Speaker 1: it in the condition that it's in. They've done exactly

782
00:42:16,440 --> 00:42:18,799
Speaker 1: what Genie is describing. How do we get smaller, how

783
00:42:18,800 --> 00:42:21,040
Speaker 1: do we get more fringe? How do we get less relevant?

784
00:42:21,160 --> 00:42:23,120
Speaker 1: And they're doing a great job. That's saying a lot

785
00:42:23,200 --> 00:42:25,200
Speaker 1: coming from Rick Davis, and we know that Adam Kinzinger

786
00:42:25,239 --> 00:42:28,000
Speaker 1: is onto other things. Rick do is this Cheney get reelected?

787
00:42:28,480 --> 00:42:30,640
Speaker 1: I hope so, I mean I think really that would

788
00:42:30,680 --> 00:42:34,120
Speaker 1: be uh, the one black eye that the party would

789
00:42:34,160 --> 00:42:37,120
Speaker 1: get in the course of this. Her success is their failure.

790
00:42:37,160 --> 00:42:40,040
Speaker 1: They've now set it up. She didn't she was not

791
00:42:40,120 --> 00:42:43,879
Speaker 1: looking to make this a cause celeb on her own

792
00:42:43,880 --> 00:42:46,719
Speaker 1: election Donald Trump and the party has done that. So

793
00:42:47,120 --> 00:42:50,319
Speaker 1: good luck, Liz. I hope that you're able to pull

794
00:42:50,400 --> 00:42:54,120
Speaker 1: us out because I think, regardless of all the politics involves, uh,

795
00:42:54,880 --> 00:42:58,040
Speaker 1: it at least gives hope to some Republicans that that

796
00:42:58,040 --> 00:43:00,279
Speaker 1: that that there are people, good people who want to

797
00:43:00,280 --> 00:43:03,399
Speaker 1: do what's right for the Constitution who can still get

798
00:43:03,400 --> 00:43:07,520
Speaker 1: elected as Republicans meantime, Mike Pence speaks. He made some

799
00:43:07,600 --> 00:43:12,640
Speaker 1: headlines today in his speech to the Federalist Society talking about, well,

800
00:43:12,719 --> 00:43:15,720
Speaker 1: of course January six, than what he was not actually

801
00:43:15,920 --> 00:43:19,400
Speaker 1: authorized to do here he is the president. Trump is wrong.

802
00:43:20,520 --> 00:43:23,960
Speaker 1: I had no right to overturn the election. The presidency

803
00:43:24,040 --> 00:43:27,800
Speaker 1: belongs to the American people and the American people alone,

804
00:43:28,560 --> 00:43:31,839
Speaker 1: And frankly, there is no idea more on American then

805
00:43:31,840 --> 00:43:34,880
Speaker 1: the notion than any one person could choose the American

806
00:43:34,920 --> 00:43:38,839
Speaker 1: president under the constitution. I had no right to change

807
00:43:38,880 --> 00:43:42,920
Speaker 1: the outcome of our election. Somebody's not getting invited back

808
00:43:42,920 --> 00:43:46,600
Speaker 1: tomorrow lago. Uh, how does that hit you, Genie when

809
00:43:46,600 --> 00:43:50,239
Speaker 1: you hear Mike Pence. The got Liz Cheney, We've got

810
00:43:50,280 --> 00:43:53,320
Speaker 1: Adam Kinsinger, We've got Rick Davis here. As the Republican

811
00:43:53,400 --> 00:43:57,280
Speaker 1: Party going to be redefined or or or or split

812
00:43:57,320 --> 00:43:59,759
Speaker 1: into two? Where are we going here? I think what

813
00:43:59,800 --> 00:44:02,720
Speaker 1: we're hearing is good people fighting back. I was struck

814
00:44:02,760 --> 00:44:06,200
Speaker 1: by Mike Pence's language. Um, we understand. During that speech

815
00:44:06,200 --> 00:44:08,319
Speaker 1: a couple of people walked out, but he did get

816
00:44:08,360 --> 00:44:11,640
Speaker 1: some applause. It was a friendly audience for him at

817
00:44:11,680 --> 00:44:14,959
Speaker 1: the Federalist Society, but his language was clear. Not only

818
00:44:15,000 --> 00:44:18,240
Speaker 1: did he name Trump, he said he disagreed with him,

819
00:44:18,280 --> 00:44:21,560
Speaker 1: but he spoken really even broader terms about January six

820
00:44:21,640 --> 00:44:24,600
Speaker 1: as a dark day. He talked about the importance of

821
00:44:24,680 --> 00:44:28,440
Speaker 1: upholding the Constitution and for Republicans if they allowed this

822
00:44:28,520 --> 00:44:31,080
Speaker 1: to go forward, the idea that Kamala Harris and the

823
00:44:31,120 --> 00:44:34,680
Speaker 1: Democrats could do it in four It was a really

824
00:44:34,719 --> 00:44:37,879
Speaker 1: important moment. I understand people still want him to come

825
00:44:37,880 --> 00:44:40,600
Speaker 1: out and answer the question would he support Trump if

826
00:44:40,680 --> 00:44:43,400
Speaker 1: he runs in four He hasn't. I don't think gone

827
00:44:43,400 --> 00:44:47,200
Speaker 1: there yet, but I do think Mike Pence deserves credit

828
00:44:47,280 --> 00:44:50,200
Speaker 1: for what he did on January six against real pressure,

829
00:44:50,440 --> 00:44:53,279
Speaker 1: and what he did today it was full throated, uh

830
00:44:53,520 --> 00:44:55,680
Speaker 1: Rick to hear that from Mike Penson. We know that

831
00:44:55,680 --> 00:44:58,040
Speaker 1: he already felt that way. But when we talk about

832
00:44:58,080 --> 00:45:00,680
Speaker 1: the you know, the the factions of the Demo Acratic Party,

833
00:45:00,680 --> 00:45:04,399
Speaker 1: the progressives are so far away from the moderates. We've

834
00:45:04,440 --> 00:45:08,360
Speaker 1: seen what that does legislatively on Capitol Hill. What do

835
00:45:08,400 --> 00:45:12,560
Speaker 1: we call this? What is this happening inside the Republican Party? Well, look,

836
00:45:12,600 --> 00:45:15,520
Speaker 1: I mean, I think these fissures with Trump and and

837
00:45:15,520 --> 00:45:20,120
Speaker 1: and and his coalition within the party have always been there,

838
00:45:20,760 --> 00:45:24,760
Speaker 1: obviously much more difficult to see them through the fog

839
00:45:24,800 --> 00:45:28,319
Speaker 1: of his presidency. I mean, you know, when when you're

840
00:45:28,320 --> 00:45:30,640
Speaker 1: that big a bully and the party and you pay

841
00:45:30,760 --> 00:45:33,440
Speaker 1: such a huge price for being a dissenting opinion, a

842
00:45:33,440 --> 00:45:36,200
Speaker 1: lot of people don't speak up and uh And so

843
00:45:36,640 --> 00:45:40,400
Speaker 1: now I think there is a determination that his influence

844
00:45:40,520 --> 00:45:43,719
Speaker 1: is waning, even though his fundraising machine down in mar

845
00:45:43,800 --> 00:45:47,200
Speaker 1: Lago keeps going. His numbers in the survey data when

846
00:45:47,200 --> 00:45:49,319
Speaker 1: you read them and all these people are reading them,

847
00:45:49,800 --> 00:45:53,120
Speaker 1: indicate fewer and fewer Republicans want to follow Trump. Uh

848
00:45:53,160 --> 00:45:56,680
Speaker 1: and or think that Trump has a future for the

849
00:45:56,680 --> 00:46:00,200
Speaker 1: White House. So I think it's Mike Pence's future, well,

850
00:46:00,200 --> 00:46:02,319
Speaker 1: Mike pens Politically, I think Mike Pence did a lot

851
00:46:02,360 --> 00:46:04,880
Speaker 1: for his future today. Um, it was not an easy

852
00:46:04,920 --> 00:46:08,120
Speaker 1: thing to go into this crowd and and and give

853
00:46:08,160 --> 00:46:10,200
Speaker 1: the speech that he gave. There's a level of political

854
00:46:10,200 --> 00:46:12,759
Speaker 1: courage that we've not seen of Mike Pence in the

855
00:46:12,800 --> 00:46:15,439
Speaker 1: last four years that came out today. So I think

856
00:46:15,480 --> 00:46:17,600
Speaker 1: he's trying to buy a seat at the table, and

857
00:46:17,640 --> 00:46:19,800
Speaker 1: I think he did a lot of good for himself

858
00:46:19,840 --> 00:46:23,840
Speaker 1: trying to do that today. A Pence Cheney ticket. Jennie, Oh,

859
00:46:23,960 --> 00:46:26,480
Speaker 1: what a ticket. You know. I think that you know,

860
00:46:26,560 --> 00:46:30,239
Speaker 1: you'd even get some moderates who really like what Liz

861
00:46:30,320 --> 00:46:33,799
Speaker 1: Janey is out there doing. Um, you know, obviously for Democrats,

862
00:46:34,200 --> 00:46:36,960
Speaker 1: and you know it's particularly liberals. You know, these are

863
00:46:37,080 --> 00:46:40,080
Speaker 1: very conservative folks, Mike Pence and Liz Janey, but the

864
00:46:40,160 --> 00:46:42,520
Speaker 1: way that they are standing up to Donald Trump and

865
00:46:42,560 --> 00:46:45,879
Speaker 1: standing up for what is right is critically important, and

866
00:46:46,040 --> 00:46:48,840
Speaker 1: I do think, you know that we need to applaud

867
00:46:48,880 --> 00:46:51,600
Speaker 1: them for the courage that they're showing. There are several

868
00:46:51,600 --> 00:46:53,960
Speaker 1: Republicans who have done this, and those are the people

869
00:46:54,000 --> 00:46:55,560
Speaker 1: who are going to be the future of the party.

870
00:46:56,000 --> 00:46:59,279
Speaker 1: It's the fastest hour in politics and a fascinating conversation

871
00:46:59,320 --> 00:47:02,399
Speaker 1: with our panel Nie Chanzano and Rick Davis. I love

872
00:47:02,480 --> 00:47:05,560
Speaker 1: these conversations. There's no other show like it. Thanks to

873
00:47:05,600 --> 00:47:07,279
Speaker 1: both of you guys, will of course be doing this

874
00:47:07,320 --> 00:47:11,319
Speaker 1: again next week here. As February is Black History Month,

875
00:47:11,520 --> 00:47:14,880
Speaker 1: we are also every day this month celebrating significant moments

876
00:47:14,920 --> 00:47:18,359
Speaker 1: in US black history. I've been just really enjoying hearing

877
00:47:18,400 --> 00:47:21,719
Speaker 1: from Nita every evening with your installment feb four Now

878
00:47:21,760 --> 00:47:25,239
Speaker 1: Bloomberg's RNDA Young on this day in Black history. In

879
00:47:26,560 --> 00:47:31,399
Speaker 1: Republican Oklahoma Representative Julius Caesar, also known as j. C. Watts,

880
00:47:31,400 --> 00:47:34,560
Speaker 1: became the first African American to respond to a State

881
00:47:34,560 --> 00:47:37,759
Speaker 1: of the Union address. He delivered the GOP response to

882
00:47:37,800 --> 00:47:41,040
Speaker 1: then President Bill Clinton State of the Union. Watts was

883
00:47:41,080 --> 00:47:44,240
Speaker 1: the first black representative elected from Oklahoma and the first

884
00:47:44,280 --> 00:47:47,360
Speaker 1: Republican to win the district in seventy two years. He

885
00:47:47,480 --> 00:47:49,719
Speaker 1: was also one of two black Republicans in Congress. In

886
00:47:49,800 --> 00:47:53,440
Speaker 1: his freshman term. Watts quickly became one of the GOP's

887
00:47:53,520 --> 00:47:57,320
Speaker 1: most visible spokesman. That's today in Black History. I'm rened

888
00:47:57,360 --> 00:48:01,120
Speaker 1: to Young Bloomberg Radio re need. Thank you and thanks

889
00:48:01,120 --> 00:48:03,920
Speaker 1: for spending another week with us here on Bloomberg Sound On.

890
00:48:03,960 --> 00:48:06,040
Speaker 1: It was a good week from World headquarters in New

891
00:48:06,120 --> 00:48:09,520
Speaker 1: York to back here inside the bubble where we are

892
00:48:09,800 --> 00:48:12,840
Speaker 1: ensconced once again. We'll have a lot more to follow

893
00:48:12,840 --> 00:48:16,600
Speaker 1: on from the weekend Sunday shows, latest on Ukraine and Russia.

894
00:48:16,719 --> 00:48:19,439
Speaker 1: Right here Monday, I'll meet you on the fastest hour

895
00:48:19,480 --> 00:48:22,120
Speaker 1: in politics. I'm Joe Matthew. This is Bloomberg