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Speaker 1: Global business news twenty four hours a day at Bloomberg

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Speaker 1: dot com, the Radio plus mobile last and on your radio.

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Speaker 1: This is a Bloomberg Business Flash, and I'm Karen Moscow.

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Speaker 1: US Dock Index Future slipping as investors away minutes from

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Speaker 1: the latest Federal Reserve meeting. We checked the markets every

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Speaker 1: fifteen minutes throughout the trading day. On Bloomberg SNP eveny

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Speaker 1: Future is down six points a dow. EVENI Future is

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Speaker 1: down fifty nine nasdat e many futures down eleven. That

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Speaker 1: acts in Germany's down half percent. Ten year treasury down

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Speaker 1: six thirty seconds, the yield one point seven nine percent,

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Speaker 1: nimex scrude oil that'll changed at forty eight dollars thirty

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Speaker 1: two cents of barrel, Comex goal down half percent or

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Speaker 1: five dollars ninety cents to twelve seventy one and ounce

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Speaker 1: the euro and ollar twelve seventy eight. The n one

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Speaker 1: oh nine point five four and target down almost eight

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Speaker 1: percent after reporting quarterly sales that missed analysts estimates. And

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Speaker 1: that's a Bloomberg Business Flash. Tom and Mike Karen, thank

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Speaker 1: you so much. A churn to them markets this morning

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Speaker 1: is how he would do it. He grew up in

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Speaker 1: a front of minor league baseball, Mike, to talk about

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Speaker 1: Louisville in our you, was there there arguably a major

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Speaker 1: league team when they were in the minor leagues. I mean,

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Speaker 1: just extraordinary they did. All in all, he is from

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Speaker 1: Kentucky and that is important. The congressman of the third

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Speaker 1: Congressional District, John Yarmouth Congressman, Good morning. What was the

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Speaker 1: political heat like down in Kentucky? What did you observe?

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Speaker 1: Was it an exhausted national primary, but where by the

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Speaker 1: time they got to your Kentucky it was like, Okay,

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Speaker 1: this is over or was there some real emotion? No?

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Speaker 1: I think there was actually some real emotion. You know,

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Speaker 1: it's been a long time since h Kentucky in general

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Speaker 1: and my community have been involved in the presidential race,

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Speaker 1: so we we we've been an afterthought basically for the

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Speaker 1: last four or five cycles. So I think there was

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Speaker 1: actually genuine enthusiasm about it. You studied it Yale where

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Speaker 1: they told you don't switch parties, which you did. There's

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Speaker 1: a lot of people right now going this way or

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Speaker 1: that way, thinking about switching their vote from the way

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Speaker 1: their grandparents or parents and they voted tell us about

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Speaker 1: the emotion of switching the vote. Well, I think what

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Speaker 1: you're seeing is parties. Um. The parties have both, to

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Speaker 1: a certain extent, uh, drifted away from what they were

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Speaker 1: at least when I was growing up, and when I

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Speaker 1: was a Republican in the sixties and and early seventies.

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Speaker 1: Republicans were the environmentalist party. They were a party of

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Speaker 1: civil rights. Uh. You had some of the great champions

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Speaker 1: of liberal policy like Jacob Javits and Mark Hatfield and others. Uh.

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Speaker 1: And obviously, I guess with starting with Reagan and and

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Speaker 1: the the kind of I guess the incursion. I wouldn't

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Speaker 1: say the incursion, but but the the marriage between the

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Speaker 1: Republican Party and the religious right that happened under Reagan,

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Speaker 1: with Jerry Folwell and Pat Robertson, and how they influenced policy.

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Speaker 1: The Republican Party has moved dramatically away from a lot

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Speaker 1: of its traditional positions, and and I think voters have

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Speaker 1: moved accordingly. So, you know, we've got a lot obviously

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Speaker 1: a lot of Democrats, particularly in the South, people who

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Speaker 1: were historically Democrats who now became Republicans because of the

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Speaker 1: conservative philosophy. But the Democratic Party seems to be moving

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Speaker 1: as well. I mean, Hillary Clinton appears to maybe have

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Speaker 1: won the by a a fraction of an eyelash in Kentucky,

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Speaker 1: the primary over a seventy four year old self described

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Speaker 1: socialist who wasn't even in the Democratic Party until he

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Speaker 1: decided to run for president, right, And I think it's

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Speaker 1: it's safe to say that the people who voted for

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Speaker 1: Bernie Sanders in Kentucky are not socialists and not extreme liberals.

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Speaker 1: I don't. I don't think they voted for him because

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Speaker 1: of his policy positions. They voted for him because they

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Speaker 1: feel a lot of the same frustration, the raging against

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Speaker 1: the machine. And and you know, I suspect some of

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Speaker 1: them also, we're voting for him in a in a

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Speaker 1: strategic way to send a message that they were going

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Speaker 1: to vote for Donald Trump. I think that's part of

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Speaker 1: it as well. Well. Is uh is Kentucky? I mean,

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Speaker 1: you managed to switch parties and retain your seat, but

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Speaker 1: it's Kentucky going to uh vote for Donald Trump? Well,

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Speaker 1: I think you'd have to bet that way. And by

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Speaker 1: the way, I switched parties um twenty something years before

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Speaker 1: I ran for office, so I was pretty much identified

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Speaker 1: clearly as a progressive Democrat long before I ran for

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Speaker 1: office because of a lot of the work I did

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Speaker 1: in media. But um, you know, it's gonna be a

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Speaker 1: tough slog for Hillary in Kentucky, particularly because of the

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Speaker 1: comments that she made about Cole Uh. She basically has

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Speaker 1: surrendered I think the the eastern part of the state

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Speaker 1: and some of the western part of the state. Even

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Speaker 1: though she she misspoke, I knew certainly what she meant

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Speaker 1: to say, and but those are the things things that

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Speaker 1: can kill you in politics, and so she's gonna have

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Speaker 1: a hard slog. I don't think Donald Trump's gonna sell

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Speaker 1: well in my district at all. In Louisville, I think

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Speaker 1: he'll be uh fundly beaten there, but I doubt if

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Speaker 1: that will carry over the rest of the state. What

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Speaker 1: happens to both political parties post November, we seem to

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Speaker 1: be getting a message from the voters that doesn't matter

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Speaker 1: whether you're a Republican or a Democrat. There are an

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Speaker 1: awful lot of people who do not like the status quo.

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Speaker 1: I agree, and I think one of the things that

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Speaker 1: we face in the Democratic Party and uh not so

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Speaker 1: much in the Republican Party, at least in Congress is

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Speaker 1: that we have leaders in Congress. And it's not to

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Speaker 1: say they're not talented. I mean, Nancy Pelosi is an

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Speaker 1: incredibly talented leader and politician. Stanny Hoyer is to Jim Burned.

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Speaker 1: But we have not been able to let our younger

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Speaker 1: uh faces are newer faces rise to physicians of prominence.

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Speaker 1: And that's that. I think that's hurt us and I

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Speaker 1: think it will continue to hurt us unless we find

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Speaker 1: a way to showcase some of the people who better

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Speaker 1: reflect the population and and the kind of modern society

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Speaker 1: that um, we're gonna have to deal with. You know,

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Speaker 1: I can think over and over, Congress at it's optimum

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Speaker 1: efficiency moves at ten miles in the world's moving in

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Speaker 1: a hundred, and we have to figure out a way

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Speaker 1: to be more responsive to the way the world is

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Speaker 1: changing within the reach of Kentucky and the politics. And

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Speaker 1: of course very quickly here, Congressman, would love to have

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Speaker 1: you back on do you how do you predict that

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Speaker 1: in the Key States the polarity of a given state

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Speaker 1: will go. Let's take Ohio, which is somewhat like Kentucky.

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Speaker 1: The the the massive cultural polarities of the state that

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Speaker 1: will be accentuated this time around, won't it. I don't

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Speaker 1: think there's any question about it. Uh, when you when

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Speaker 1: you when you have just the two two largest cities,

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Speaker 1: Cleveland and Cincinnati are so very very different. And uh,

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Speaker 1: you've got Cleveland, which with a much more diverse population,

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Speaker 1: the Cincinnati with the German Catholic population, and then you've

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Speaker 1: got the large watches of of rural voters of the

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Speaker 1: surrounding all of them. You really had an incredibly tost

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Speaker 1: political Uh. This has been wonderful. We'd love to have

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Speaker 1: you on again. The Congressman from third District Louisville in Kentucky,

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Speaker 1: Johnny Louisville, excuse me, Bloomberg, saveans. We're kind of out

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