1 00:00:00,480 --> 00:00:03,320 Speaker 1: Why from our nations this budget thing is going to 2 00:00:03,400 --> 00:00:06,120 Speaker 1: do nothing space forts. I still think it's interesting. Carsident 3 00:00:06,160 --> 00:00:09,800 Speaker 1: Trump not playing his cards yet, headlines Policy and Politics, 4 00:00:09,880 --> 00:00:15,480 Speaker 1: colliding to sound on with Kevin's relate the Insiders the Influencers, insides, 5 00:00:15,600 --> 00:00:17,880 Speaker 1: I would rather see a congressional solution. It's part of 6 00:00:17,880 --> 00:00:21,040 Speaker 1: my DNA. The Senate map in looks a lot different 7 00:00:21,040 --> 00:00:23,400 Speaker 1: than it looked in teams. You really have a divide 8 00:00:23,560 --> 00:00:26,360 Speaker 1: within Team Trump. The president has to do exactly what 9 00:00:26,400 --> 00:00:29,200 Speaker 1: people seven here to do, which is to get it done. 10 00:00:29,200 --> 00:00:33,560 Speaker 1: He's sound on with Kevin's her relate on Bloomberg one 11 00:00:33,680 --> 00:00:37,760 Speaker 1: and one seven F M h D two Boltemore, Happy 12 00:00:37,800 --> 00:00:42,600 Speaker 1: hump day, Busy, busy day. FED chair J. Powell says 13 00:00:42,760 --> 00:00:48,159 Speaker 1: policy as appropriate, with no bias to hike or cut 14 00:00:48,200 --> 00:00:52,440 Speaker 1: all of the fallout from the FED Chairman's Federal Open 15 00:00:52,520 --> 00:00:57,000 Speaker 1: Market Committee statement, as well as what exactly it means 16 00:00:57,200 --> 00:01:00,480 Speaker 1: for the economy and how trade policy is in acting 17 00:01:01,000 --> 00:01:03,840 Speaker 1: the economy. We're gonna hear directly from two senators who 18 00:01:03,880 --> 00:01:05,959 Speaker 1: are caught in the mix of things, and they are 19 00:01:06,040 --> 00:01:09,520 Speaker 1: Republicans and they're not afraid to differ with the Trump 20 00:01:09,560 --> 00:01:13,880 Speaker 1: administration on policy. That's, of course, I'm talking about Senator 21 00:01:13,920 --> 00:01:18,120 Speaker 1: Tim Scott, a Republican from South Carolina, and Senator Joanie Ernst, 22 00:01:18,200 --> 00:01:21,399 Speaker 1: a Republican from Iowa. I was able, uh Tim Scotts 23 00:01:21,400 --> 00:01:24,760 Speaker 1: from South Carolina, I apologize and Senator Joni Earnst, Republican 24 00:01:24,840 --> 00:01:29,200 Speaker 1: from Iowa. I was able to ask them about trade policy, 25 00:01:29,319 --> 00:01:34,600 Speaker 1: about the Central Bank, and they disagree with where the 26 00:01:34,600 --> 00:01:37,680 Speaker 1: President's position is on a host of different issues. We're 27 00:01:37,720 --> 00:01:40,600 Speaker 1: gonna play for you that interview plus much more on 28 00:01:40,640 --> 00:01:44,560 Speaker 1: all of the fallout surrounding the political drama, high drama 29 00:01:44,640 --> 00:01:48,360 Speaker 1: and the Senate today. I was in the Russell Senate 30 00:01:48,400 --> 00:01:53,240 Speaker 1: Building in the Russell Rotunda where we do our television 31 00:01:53,280 --> 00:01:55,000 Speaker 1: live shots as well as all the other networks, and 32 00:01:55,080 --> 00:01:59,640 Speaker 1: let me tell you, it was a complete media storm 33 00:01:59,680 --> 00:02:05,080 Speaker 1: as the national global media even descended upon the Senate 34 00:02:05,480 --> 00:02:09,400 Speaker 1: today to hear from Attorney General William Barr And he 35 00:02:09,560 --> 00:02:14,880 Speaker 1: was grilled by Democrats on the Senate Judiciary Committee for 36 00:02:14,960 --> 00:02:19,919 Speaker 1: his handling of Robert Mueller's Russia Report. He was accused 37 00:02:19,919 --> 00:02:24,520 Speaker 1: of many things, including intentionally misleading Congress and the public, 38 00:02:24,639 --> 00:02:28,880 Speaker 1: the American people about the Special Council's findings. He was accused, 39 00:02:28,880 --> 00:02:33,000 Speaker 1: of course by Democrats. Republicans disagreed, and in fact Senate 40 00:02:33,120 --> 00:02:39,600 Speaker 1: Judiciary Committee Chairman Lindsey Graham, a Republican from South Carolina, 41 00:02:39,720 --> 00:02:42,160 Speaker 1: saying that it's time to turn the page at the 42 00:02:42,200 --> 00:02:48,720 Speaker 1: Mueller report four plus pages redacted version was settling the issue. 43 00:02:49,480 --> 00:02:51,960 Speaker 1: It's time to move on. That's what the refrain was 44 00:02:52,480 --> 00:02:55,840 Speaker 1: from Republican members. We're gonna break all of this down 45 00:02:55,880 --> 00:03:00,080 Speaker 1: because there were some key takeaway, some new information in 46 00:03:00,200 --> 00:03:03,119 Speaker 1: terms of the politics, the policy, and we've got two 47 00:03:03,120 --> 00:03:06,600 Speaker 1: great guests to guide us through both sides of the 48 00:03:06,680 --> 00:03:09,720 Speaker 1: aisle for the hour. Sarah Kim, a friend of the show. 49 00:03:09,760 --> 00:03:13,320 Speaker 1: She's a Republican strategist. She's a former senior advisor in 50 00:03:13,360 --> 00:03:16,640 Speaker 1: the Trump administrations. She's also worked up on Capitol Hill 51 00:03:16,680 --> 00:03:20,760 Speaker 1: as a staffer on the House Oversight and Government Reform Committee. 52 00:03:20,760 --> 00:03:23,799 Speaker 1: And Richard Fowler. He's a nationally syndicated radio show host, 53 00:03:23,840 --> 00:03:28,480 Speaker 1: a Fox News contributor. He's a Democrat, Democratic strategist. So 54 00:03:28,600 --> 00:03:32,040 Speaker 1: we're grateful to have you both. Uh, Serie, I'll start 55 00:03:32,080 --> 00:03:35,400 Speaker 1: with you. So one of the takeaways from this hearing 56 00:03:36,080 --> 00:03:42,120 Speaker 1: is that Democrats were focusing on this four page memo 57 00:03:42,600 --> 00:03:45,720 Speaker 1: summary don't tell the Attorney General. I'm calling it a summary. 58 00:03:45,800 --> 00:03:48,240 Speaker 1: He doesn't want it to be called a summary of 59 00:03:48,320 --> 00:03:53,080 Speaker 1: the report that was issued that he sent to Congress 60 00:03:53,440 --> 00:03:57,880 Speaker 1: and the and and released publicly of his takeaways, top 61 00:03:57,920 --> 00:04:03,000 Speaker 1: line views, so to speak, of the Mueller Report. And 62 00:04:03,560 --> 00:04:05,720 Speaker 1: he says in this report that there was no obstruction 63 00:04:05,720 --> 00:04:10,680 Speaker 1: of justice, and he also says that that there was 64 00:04:10,720 --> 00:04:16,160 Speaker 1: no collusion and whatnot. And the handling of that, according 65 00:04:16,200 --> 00:04:20,560 Speaker 1: to Democrats is that he got out front. Is that 66 00:04:20,680 --> 00:04:23,279 Speaker 1: is that really the politics is that is at the stage, 67 00:04:23,320 --> 00:04:25,920 Speaker 1: that was at the main sort of battle lines political 68 00:04:25,960 --> 00:04:28,720 Speaker 1: battle lines. From this hearing, it sounds a bit like 69 00:04:28,800 --> 00:04:32,240 Speaker 1: the Democrats have sour grapes because they do have access 70 00:04:32,279 --> 00:04:36,200 Speaker 1: to the Foe Muller Report. And there's nothing that William 71 00:04:36,240 --> 00:04:39,760 Speaker 1: Barr put in those four pages that contradict anything that 72 00:04:39,880 --> 00:04:42,760 Speaker 1: is in the actual text of what Robert Mueller put together. 73 00:04:43,360 --> 00:04:46,479 Speaker 1: And you know, another takeaway from today's hearing that people 74 00:04:46,560 --> 00:04:50,559 Speaker 1: really seem to focus on is this leaked March letter 75 00:04:51,000 --> 00:04:56,359 Speaker 1: that allegedly Robert Mueller wrote, and he is allegedly saying 76 00:04:56,360 --> 00:05:01,520 Speaker 1: that he disagrees with the Muller Report. It's his own report. 77 00:05:01,640 --> 00:05:06,200 Speaker 1: He's not saying that Trump coluded. He's not saying that Trump, 78 00:05:07,000 --> 00:05:09,400 Speaker 1: you know, criminally in French. He's not even saying that 79 00:05:09,440 --> 00:05:12,920 Speaker 1: Bill Barr was inaccurate in any of his four pages. 80 00:05:13,279 --> 00:05:15,800 Speaker 1: He's just saying that the media seems to be reporting 81 00:05:15,800 --> 00:05:19,080 Speaker 1: it wrong, um all times. For having to Kevin, of course, 82 00:05:19,320 --> 00:05:20,840 Speaker 1: a couple of pieces on that. I think there's a 83 00:05:20,880 --> 00:05:22,719 Speaker 1: couple of things that we we saw what we learned today. 84 00:05:22,800 --> 00:05:25,560 Speaker 1: Number one, we learned that the Judiciary chairman to not 85 00:05:25,600 --> 00:05:30,000 Speaker 1: read the Muller Report, um, which is he read most 86 00:05:30,000 --> 00:05:31,839 Speaker 1: of it. I think I probably read more than Muller 87 00:05:31,880 --> 00:05:34,360 Speaker 1: Report than Judiciary chairman, because I've read almost four dred 88 00:05:34,400 --> 00:05:37,320 Speaker 1: pages of it. Um. And that's the thing one I think, 89 00:05:37,400 --> 00:05:39,839 Speaker 1: and that that should be telling for the American people 90 00:05:39,880 --> 00:05:43,359 Speaker 1: that the person who sits over the oversight of the 91 00:05:44,000 --> 00:05:46,719 Speaker 1: Justice Department in the United States Senate, the chair of 92 00:05:46,720 --> 00:05:49,560 Speaker 1: that committee to not read the report one of the 93 00:05:49,560 --> 00:05:53,040 Speaker 1: most important investigations in American history in the past fix 94 00:05:53,040 --> 00:05:55,560 Speaker 1: two years was not read by the chair Judiciary Committee. UH. 95 00:05:55,680 --> 00:05:58,400 Speaker 1: Number one and number two UH. In the Mueller letter 96 00:05:58,520 --> 00:06:01,039 Speaker 1: that was leaked to the media, the word media wasn't 97 00:06:01,040 --> 00:06:06,120 Speaker 1: even mentioned once. UM. The letter was keenly about how 98 00:06:07,320 --> 00:06:11,800 Speaker 1: Attorney General bar wrote a summary or excuse me, his 99 00:06:12,520 --> 00:06:15,720 Speaker 1: clip notes are his summary of what the Mulla report 100 00:06:15,800 --> 00:06:18,960 Speaker 1: was when the Mueller team in itself created an executive summary, 101 00:06:18,960 --> 00:06:20,400 Speaker 1: which is what they wanted to be released at the 102 00:06:20,400 --> 00:06:23,840 Speaker 1: public which is what was so telling, right, So what 103 00:06:23,839 --> 00:06:26,440 Speaker 1: what what Attorney General bar actually did was he took 104 00:06:26,440 --> 00:06:29,080 Speaker 1: the Mulla Report, he created his own summary, and he 105 00:06:29,240 --> 00:06:31,080 Speaker 1: used that summary to tell the American people what to 106 00:06:31,080 --> 00:06:33,440 Speaker 1: think about the report. And that's what's indeed problematic. So 107 00:06:33,480 --> 00:06:35,839 Speaker 1: if you're driving home from work and there's this there's 108 00:06:35,880 --> 00:06:39,599 Speaker 1: this marathon hearing and the Judiciary Committee. To be honest, 109 00:06:39,640 --> 00:06:41,120 Speaker 1: I don't think there was anything that came out of 110 00:06:41,160 --> 00:06:45,600 Speaker 1: the hearing that dramatically changes Republicans or Democrats. And I'm 111 00:06:45,640 --> 00:06:47,520 Speaker 1: watching you both in studio, and both of you are 112 00:06:47,560 --> 00:06:50,120 Speaker 1: acknowledging that that is that that you agree with that 113 00:06:50,160 --> 00:06:53,080 Speaker 1: statement that there was no really bombshell from this hearing. 114 00:06:53,160 --> 00:06:56,040 Speaker 1: To play it forward. It's unknown whether or not he's 115 00:06:56,080 --> 00:06:58,760 Speaker 1: going to testify in the House tomorrow because there's been 116 00:06:58,800 --> 00:07:03,400 Speaker 1: some back and forth about the the how, the scheduling, 117 00:07:03,480 --> 00:07:06,560 Speaker 1: and this whole back and forth of the layout of 118 00:07:06,560 --> 00:07:09,640 Speaker 1: the hearing, but this, this issue of the letter has 119 00:07:09,680 --> 00:07:13,920 Speaker 1: emerged as the key thing, and so he releases. Attorney 120 00:07:13,920 --> 00:07:18,120 Speaker 1: General William Barr releases this letter, and he has said 121 00:07:18,200 --> 00:07:21,480 Speaker 1: publicly on April nine, in April tent that he does 122 00:07:21,520 --> 00:07:25,120 Speaker 1: not know if Bob Mueller supported his conclusions on the 123 00:07:25,200 --> 00:07:28,520 Speaker 1: Mueller Report. So Attorney General William Barr releases a four 124 00:07:28,560 --> 00:07:31,480 Speaker 1: page summary of the Mueller Report, and then on April 125 00:07:31,600 --> 00:07:35,280 Speaker 1: nine and April tenth says he's not sure whether or 126 00:07:35,320 --> 00:07:41,320 Speaker 1: not Bob Mueller supports the conclusions in of of that 127 00:07:41,360 --> 00:07:43,040 Speaker 1: he drew from the Muller Report. I want to play 128 00:07:43,080 --> 00:07:44,800 Speaker 1: for you some of the comments he made on April ninth. 129 00:07:44,800 --> 00:07:49,080 Speaker 1: In April tenth, members of the Special Council's team are 130 00:07:49,120 --> 00:07:53,480 Speaker 1: frustrated at some level with the limited information included in 131 00:07:53,480 --> 00:07:58,240 Speaker 1: your March letter that it does not adequately or accurately 132 00:07:58,400 --> 00:08:02,120 Speaker 1: necessarily portray the sports findings. Do you know what they're 133 00:08:02,160 --> 00:08:07,360 Speaker 1: referencing with that? No, I don't. Did Bob Mueller's support 134 00:08:07,400 --> 00:08:12,080 Speaker 1: your conclusion? I don't know whether Bob Muller supported my conclusions. Okay, 135 00:08:12,120 --> 00:08:15,920 Speaker 1: So that's questioning from Congressman Charlie Chris, the Democrat from 136 00:08:15,960 --> 00:08:20,560 Speaker 1: California and Senator Christman Holland, a Democrat from Florida. Democrat 137 00:08:20,600 --> 00:08:28,560 Speaker 1: from Florida, and Senator Chris Van Holland, a Democrat from Maryland. Uh. Okay, 138 00:08:28,600 --> 00:08:31,120 Speaker 1: and then you know, take a listen to what he 139 00:08:31,120 --> 00:08:34,600 Speaker 1: said testified today, the Attorney General testified today before the 140 00:08:34,640 --> 00:08:39,560 Speaker 1: Senate Judiciary Committee. Hearious, I said, Bob, what's with the letter? 141 00:08:40,200 --> 00:08:41,960 Speaker 1: You know, why don't you just pick up the phone 142 00:08:41,960 --> 00:08:47,120 Speaker 1: and call me if there's an issue? And U he 143 00:08:47,520 --> 00:08:51,960 Speaker 1: uh said that they were concerned about the way the 144 00:08:52,040 --> 00:08:57,360 Speaker 1: media was playing this, Sarah. I mean, he testified to 145 00:08:57,480 --> 00:09:00,600 Speaker 1: Congress that he didn't know what Bob Mueller's thought of 146 00:09:00,640 --> 00:09:04,839 Speaker 1: the investigation. But Bob Mueller, as we learned today, had 147 00:09:04,880 --> 00:09:08,800 Speaker 1: sent him a letter with concerns about the investigation. And 148 00:09:08,840 --> 00:09:12,520 Speaker 1: he just testified today that he's saying that he knew 149 00:09:12,880 --> 00:09:16,240 Speaker 1: that Bob Muller was concerned about the investigation. So I 150 00:09:16,320 --> 00:09:19,720 Speaker 1: disagree with some of your question. Bob Muller never said 151 00:09:19,920 --> 00:09:22,720 Speaker 1: that he had concerns about the investigation. I read the 152 00:09:22,720 --> 00:09:26,640 Speaker 1: March twenty letter for very short paragraphs. What he said 153 00:09:26,800 --> 00:09:30,240 Speaker 1: was that um And specifically referred to a press release 154 00:09:30,360 --> 00:09:32,920 Speaker 1: actually issued by the Department of Justice, and it seems 155 00:09:32,920 --> 00:09:36,839 Speaker 1: like Robert Mueller is concerned about the media reporting. He 156 00:09:37,200 --> 00:09:41,000 Speaker 1: never says in any of those sentences and is essentially 157 00:09:41,040 --> 00:09:44,800 Speaker 1: one page letter if you take away the header. No, 158 00:09:44,960 --> 00:09:47,880 Speaker 1: I'm not parsing words at all. Bob Muller is a 159 00:09:47,920 --> 00:09:50,960 Speaker 1: forty year veteran of Washington, d C. He was the 160 00:09:51,040 --> 00:09:55,080 Speaker 1: FBI director, he has and all of that speaks to 161 00:09:55,120 --> 00:09:57,720 Speaker 1: the This is what makes this so problematic is because 162 00:09:57,760 --> 00:09:59,920 Speaker 1: Bob Mueller is a veteran and the fact that Bob 163 00:10:00,040 --> 00:10:01,960 Speaker 1: Mueller didn't pick up the phone and call his friend 164 00:10:02,000 --> 00:10:03,839 Speaker 1: Bill Barn talked about the problems and the fact that 165 00:10:03,880 --> 00:10:06,920 Speaker 1: he put it in writing to talk about how problematic 166 00:10:07,080 --> 00:10:10,120 Speaker 1: Bill Barr's four page memo was based on the fact 167 00:10:10,160 --> 00:10:12,920 Speaker 1: and given the fact that the Mueller team created an 168 00:10:12,920 --> 00:10:15,040 Speaker 1: executive summary that they wanted to be released in the 169 00:10:15,080 --> 00:10:17,880 Speaker 1: public that gives their summary of their four forty eight 170 00:10:17,880 --> 00:10:21,120 Speaker 1: page document. Is what makes this this hearing so problem 171 00:10:21,160 --> 00:10:22,720 Speaker 1: I gotta say, And we joke about it. We got 172 00:10:22,880 --> 00:10:24,720 Speaker 1: coming up Well, we'll talk more about this coming up 173 00:10:24,720 --> 00:10:26,400 Speaker 1: on in the show, but but for now, I want 174 00:10:26,400 --> 00:10:28,560 Speaker 1: to leave it there because there's policy that happened today 175 00:10:28,600 --> 00:10:31,080 Speaker 1: folks on the Central Bank, and we have Senator Joni 176 00:10:31,120 --> 00:10:33,920 Speaker 1: Earnton Tim Scott interviews that I want to play on policy, 177 00:10:33,960 --> 00:10:35,720 Speaker 1: but I will say and we joked about this, Sarah, 178 00:10:35,720 --> 00:10:38,840 Speaker 1: We did joke about this. The rollout from the administration 179 00:10:39,080 --> 00:10:41,920 Speaker 1: of the William bar Report. I mean it was a 180 00:10:41,920 --> 00:10:45,720 Speaker 1: pretty smooth rollout, and I think that the testimony that 181 00:10:45,800 --> 00:10:50,079 Speaker 1: came out today, there there are questions. There are questions 182 00:10:50,120 --> 00:10:52,320 Speaker 1: that should be asked coming up. We talked policy the 183 00:10:52,360 --> 00:10:56,280 Speaker 1: Central back Bank. That chair j Pal panel stays Richard 184 00:10:56,280 --> 00:10:59,400 Speaker 1: Fowler at the Democrat, Seray Kim the Republican, And you 185 00:10:59,440 --> 00:11:02,959 Speaker 1: can down load the sound on podcast on Apple iTunes, 186 00:11:03,120 --> 00:11:06,280 Speaker 1: at Bloomberg dot com, or by downloading the Bloomberg Business app. 187 00:11:06,480 --> 00:11:08,880 Speaker 1: You can also find us on radio dot com, I 188 00:11:09,000 --> 00:11:12,640 Speaker 1: Heart Radio, and Spotify. I'm Kevin Cereli and you're listening 189 00:11:12,640 --> 00:11:19,760 Speaker 1: to Bloomberg. You're listening to Sound On with Kevin Surreally 190 00:11:20,120 --> 00:11:23,599 Speaker 1: on Bloomberg one and one oh five point seven f 191 00:11:23,720 --> 00:11:28,240 Speaker 1: m h D two, Baltimore. It never stops, never ever 192 00:11:28,360 --> 00:11:30,360 Speaker 1: stops the news out of Washington. I'm telling you, it 193 00:11:30,440 --> 00:11:34,200 Speaker 1: never stops. I'm Kevin Cereli, cheap Washington Correspondent, for Bloomberg 194 00:11:34,280 --> 00:11:37,559 Speaker 1: Television and Bloomberg Radio. I am joined by two all 195 00:11:37,640 --> 00:11:41,200 Speaker 1: stars and two friends of the program. We've got Sarah Kim, 196 00:11:41,280 --> 00:11:44,920 Speaker 1: a Republican strategist. She's also a former senior adviser and 197 00:11:44,960 --> 00:11:48,959 Speaker 1: the Trump administration and worked up on Capitol Hill several 198 00:11:49,040 --> 00:11:52,080 Speaker 1: years ago on the House Oversight and Government Reform Committee. 199 00:11:52,200 --> 00:11:55,360 Speaker 1: And we also have Richard Fowler, who's a nationally syndicated 200 00:11:55,480 --> 00:11:59,559 Speaker 1: radio show host, Fox News contributor and a Democrat strategist. Earlier, 201 00:11:59,640 --> 00:12:02,680 Speaker 1: we were talking about all of the drama, the political 202 00:12:02,800 --> 00:12:06,240 Speaker 1: theater to be candid at times not good political theater, 203 00:12:06,800 --> 00:12:13,360 Speaker 1: like fake theater off Broadway. Attorney General William Barr testifying 204 00:12:13,480 --> 00:12:16,679 Speaker 1: before the Senate Judiciary hearing. We'll talk more about that 205 00:12:16,760 --> 00:12:19,559 Speaker 1: coming up. But there is so much important policy going on, 206 00:12:19,679 --> 00:12:22,839 Speaker 1: and it's interesting when I you know, especially when you're 207 00:12:22,880 --> 00:12:25,280 Speaker 1: covering someone like Senator Lindsay Graham, the chairman of the 208 00:12:25,320 --> 00:12:28,679 Speaker 1: Judiciary Committee, of Republican from South Carolina, and he's so 209 00:12:29,120 --> 00:12:33,679 Speaker 1: in line in lock step with this president on the 210 00:12:33,840 --> 00:12:37,199 Speaker 1: investigation front, but then you dive deeper down into the 211 00:12:37,280 --> 00:12:40,959 Speaker 1: policy and how he's disagreeing with things on the Trump 212 00:12:41,000 --> 00:12:44,240 Speaker 1: trade policy, like tariffs, for example, And it becomes so 213 00:12:44,360 --> 00:12:47,960 Speaker 1: much more nuanced, a much more nuanced political data point 214 00:12:48,120 --> 00:12:52,000 Speaker 1: in this and and spectrum, and all of this matters 215 00:12:52,080 --> 00:12:58,120 Speaker 1: because you have Republicans standing behind this president on the investigation, 216 00:12:58,280 --> 00:13:01,360 Speaker 1: cable news driven issues and in a way, it gives 217 00:13:01,400 --> 00:13:05,400 Speaker 1: them more leverage on nominations. Uh, and it'll It's why 218 00:13:06,240 --> 00:13:10,400 Speaker 1: these nominations to the Fedboard are so interesting because some 219 00:13:10,559 --> 00:13:12,599 Speaker 1: of the and on trade policy, because some of the 220 00:13:12,760 --> 00:13:17,320 Speaker 1: Republicans tour are speaking out against them, are the most 221 00:13:17,559 --> 00:13:24,480 Speaker 1: vocal on the mainstream media, cable news driven top line investigation, 222 00:13:25,000 --> 00:13:28,640 Speaker 1: clickbait stories, people like Senator Lindsay Graham who had the 223 00:13:28,679 --> 00:13:31,160 Speaker 1: presidents here as a megaphone. So I do want to 224 00:13:31,200 --> 00:13:33,559 Speaker 1: talk about policy, and I do want to talk about 225 00:13:34,320 --> 00:13:36,840 Speaker 1: the FED chair today who gave a press conference because 226 00:13:36,880 --> 00:13:40,400 Speaker 1: Federal Reserve Chairman J Powell said US inflation is possibly 227 00:13:40,480 --> 00:13:44,599 Speaker 1: being dragged down by transitory forces and there is no 228 00:13:44,840 --> 00:13:50,040 Speaker 1: bias to either titan or to ease monetary policy. You 229 00:13:50,200 --> 00:13:52,960 Speaker 1: cannot cover the FED chair today and in a vacuum, 230 00:13:53,240 --> 00:13:55,840 Speaker 1: and you have to acknowledge the debate that has been 231 00:13:55,880 --> 00:13:58,560 Speaker 1: going on, and that the tweet storm that has been 232 00:13:58,600 --> 00:14:00,640 Speaker 1: going on coming from the White House. President Trump has 233 00:14:00,640 --> 00:14:03,480 Speaker 1: attacked the Central Bank, and we've covered that on this 234 00:14:03,559 --> 00:14:05,600 Speaker 1: program about for the reasons why I want to play 235 00:14:05,640 --> 00:14:08,400 Speaker 1: for you a bite from fed share Powell about what 236 00:14:08,559 --> 00:14:10,680 Speaker 1: he said about the rate height decision. Here's the fetcher. 237 00:14:11,320 --> 00:14:13,240 Speaker 1: We've just come through a two day meeting, and we've 238 00:14:13,400 --> 00:14:17,320 Speaker 1: done a deep dive on economic and financial conditions at 239 00:14:17,360 --> 00:14:19,440 Speaker 1: the in the United States and around the world, and 240 00:14:19,520 --> 00:14:21,600 Speaker 1: thought about our policy. And we do think our policy 241 00:14:21,640 --> 00:14:24,000 Speaker 1: stance is appropriate right now. We don't we don't see 242 00:14:24,120 --> 00:14:27,400 Speaker 1: a strong case for moving in either direction. And I'm 243 00:14:27,440 --> 00:14:31,160 Speaker 1: going to read from my colleagues Bloomberg reporters Christopher Condon 244 00:14:31,240 --> 00:14:34,600 Speaker 1: and Steve Matthews, who go on to report that the 245 00:14:34,720 --> 00:14:37,760 Speaker 1: Committee repeated language from its previous meeting saying it will 246 00:14:37,800 --> 00:14:41,720 Speaker 1: quote will be patient as it determines what future adjustments 247 00:14:41,760 --> 00:14:44,240 Speaker 1: to the target range for the federal funds rate may 248 00:14:44,560 --> 00:14:49,800 Speaker 1: be appropriate. Serry, I mean, not much change today, but 249 00:14:49,960 --> 00:14:53,520 Speaker 1: when you how do you now factor in all of 250 00:14:53,640 --> 00:15:00,280 Speaker 1: the surrounding firestorm of politics and something like the Central thank, 251 00:15:00,720 --> 00:15:03,800 Speaker 1: especially as they're grappling now with these with these decisions 252 00:15:03,840 --> 00:15:08,240 Speaker 1: ahead of the ahead of the political firestorms. I mean, 253 00:15:08,320 --> 00:15:10,920 Speaker 1: at this point everything is political. You can't really even 254 00:15:10,960 --> 00:15:13,720 Speaker 1: the first Yeah, you can't even parse it through. In 255 00:15:13,840 --> 00:15:17,240 Speaker 1: one sense, Chairman Pal is as political as possible because 256 00:15:17,600 --> 00:15:20,680 Speaker 1: the President said on Twitter that he didn't want ray 257 00:15:20,760 --> 00:15:23,760 Speaker 1: Kits to go up and it's not and um, I 258 00:15:23,840 --> 00:15:27,160 Speaker 1: think it's really it's really challenging situation to be in 259 00:15:27,280 --> 00:15:30,200 Speaker 1: when it's a political appointment and you're essentially running money. 260 00:15:31,800 --> 00:15:33,640 Speaker 1: I think something sense he's right on this one night, 261 00:15:33,720 --> 00:15:37,720 Speaker 1: you know, the just see see what I can do, 262 00:15:38,880 --> 00:15:40,840 Speaker 1: because I think this for this president, I mean, we 263 00:15:41,000 --> 00:15:44,360 Speaker 1: what we want is uh, we want an independent Federal Reserve. 264 00:15:44,440 --> 00:15:46,120 Speaker 1: But I think what this president has done, through his 265 00:15:46,200 --> 00:15:48,920 Speaker 1: sticky Twitter fingers and I like to call them h is, 266 00:15:49,120 --> 00:15:52,160 Speaker 1: he has made this a very political thing. He has 267 00:15:52,240 --> 00:15:55,440 Speaker 1: sort of you know, battered around and put it and 268 00:15:55,640 --> 00:15:58,200 Speaker 1: bullied around the Fed chair. And I think beyond that, 269 00:15:58,240 --> 00:15:59,920 Speaker 1: I think it would be remissed if to look at 270 00:16:00,400 --> 00:16:03,040 Speaker 1: look at the Federalserve without also mentioning the fact that 271 00:16:03,080 --> 00:16:06,040 Speaker 1: he's appointed two people to the Federal Reserve Bank. Um, 272 00:16:06,280 --> 00:16:09,440 Speaker 1: both will likely not what one has already removed his nomination, 273 00:16:09,520 --> 00:16:12,800 Speaker 1: Herman Kane, and the second, Stephen Moore, will likely withdraw 274 00:16:12,960 --> 00:16:15,920 Speaker 1: by next week. And coming up, we're gonna hear directly 275 00:16:16,160 --> 00:16:20,760 Speaker 1: from two senators on Stephen Moore's nomination. So that's Senator 276 00:16:20,840 --> 00:16:24,440 Speaker 1: Tim Scott, a Republican from South Carolina, and Senator Johann Ernst, 277 00:16:24,720 --> 00:16:28,200 Speaker 1: a Republican from Iowa. You can download the sound On 278 00:16:28,400 --> 00:16:31,520 Speaker 1: podcast on Apple iTunes, at Bloomberg dot com, or by 279 00:16:31,560 --> 00:16:34,240 Speaker 1: downloading the Bloomberg Business app. Can also check us out 280 00:16:34,320 --> 00:16:36,680 Speaker 1: on Radio dot com, I Heart Radio, and Spotify. I'm 281 00:16:36,760 --> 00:16:40,920 Speaker 1: Kevin CURRELLI we're talking policy with two Republican senators. Up next, 282 00:16:41,240 --> 00:16:48,800 Speaker 1: you're listening to Bloomberg. You're listening to Sound On with 283 00:16:49,040 --> 00:16:53,240 Speaker 1: Kevin Surreally on Bloomberg one and one oh five point 284 00:16:53,320 --> 00:16:56,520 Speaker 1: seven f m h D two Boltemore. There are some 285 00:16:56,680 --> 00:16:58,880 Speaker 1: comments that he's made in the past, and he's apologized for. 286 00:16:59,000 --> 00:17:02,360 Speaker 1: I'd love to here his perspective on it, one on one, 287 00:17:02,440 --> 00:17:05,000 Speaker 1: or at least in a committee format. That would be helpful. 288 00:17:05,680 --> 00:17:08,640 Speaker 1: At the same time, he would bring a fresh perspective 289 00:17:08,680 --> 00:17:11,600 Speaker 1: to the FED. Some folks that would be critical of that, 290 00:17:11,880 --> 00:17:14,920 Speaker 1: uh perspective, but I think some scrutiny is not a 291 00:17:15,000 --> 00:17:18,560 Speaker 1: bad idea. But I have not committed to support him 292 00:17:18,680 --> 00:17:20,960 Speaker 1: or vote against him. I looking forward to having a 293 00:17:21,080 --> 00:17:23,679 Speaker 1: chance to talk with him about the actual job itself. 294 00:17:24,760 --> 00:17:30,080 Speaker 1: That was Senator Tim Scott's a Republican from South Carolina, 295 00:17:30,760 --> 00:17:36,240 Speaker 1: weighing in on Stephen Moore, who is the President's pick 296 00:17:36,359 --> 00:17:38,600 Speaker 1: to be on the FED Board. And a lot has 297 00:17:38,640 --> 00:17:42,840 Speaker 1: come out about Stephen Moore, particularly some unflattering comments that 298 00:17:42,920 --> 00:17:46,120 Speaker 1: he has made in the past regarding women and other 299 00:17:46,200 --> 00:17:50,920 Speaker 1: issues as well. So Republicans are really withdrawing some of 300 00:17:51,000 --> 00:17:53,399 Speaker 1: their support. And we've seen this, and in fact, one 301 00:17:53,440 --> 00:17:59,600 Speaker 1: of those Republicans is Senator Johnnie Ernst uh and uh 302 00:17:59,600 --> 00:18:02,359 Speaker 1: it's Enator Scott goes on in the interview that we 303 00:18:02,520 --> 00:18:05,000 Speaker 1: that we did for Bloomberg Television earlier today to even 304 00:18:05,560 --> 00:18:09,160 Speaker 1: specifically say that he's uncomfortable with some of the comments 305 00:18:09,240 --> 00:18:11,440 Speaker 1: that Stephen Morris said. You can go to Bloomberg tv 306 00:18:12,040 --> 00:18:15,600 Speaker 1: dot com to see the full interview that aired earlier 307 00:18:15,680 --> 00:18:19,359 Speaker 1: today on Bloomberg Television that I conducted with Senator Tim Scott, 308 00:18:19,920 --> 00:18:23,639 Speaker 1: and in fact, in the sound on Extra podcast, we 309 00:18:23,760 --> 00:18:27,320 Speaker 1: talked more about his economic plan with economic opportunity zones. 310 00:18:27,600 --> 00:18:30,639 Speaker 1: But but but Senator Joanie Aren't She's a Republican from Iowa. 311 00:18:31,359 --> 00:18:34,640 Speaker 1: Obviously she's a woman. Uh and she I'm just gonna 312 00:18:34,680 --> 00:18:36,280 Speaker 1: play I mean, I'm not even gonna tease it. Here's 313 00:18:36,440 --> 00:18:40,520 Speaker 1: is precisely what Senator Earnest said about her reservations on 314 00:18:41,480 --> 00:18:44,760 Speaker 1: Stephen Moore to the Fedboard. Here she is, Senator, I 315 00:18:44,840 --> 00:18:46,680 Speaker 1: do want to get your take before we start on 316 00:18:46,880 --> 00:18:50,840 Speaker 1: Stephen Moore and the President's particular nomination, are considering naming 317 00:18:50,880 --> 00:18:53,280 Speaker 1: him to the Fedboard. Do you think you good? I 318 00:18:53,440 --> 00:18:56,639 Speaker 1: do not. Um, I would vote no against him should 319 00:18:56,680 --> 00:18:59,520 Speaker 1: he come up for a vote. UM. I know there 320 00:18:59,560 --> 00:19:01,880 Speaker 1: are a nun of other colleagues that have spoken out 321 00:19:02,119 --> 00:19:06,200 Speaker 1: as well, switching gears. In terms of trade policy, Senate 322 00:19:06,280 --> 00:19:11,440 Speaker 1: to the Chuck Grassley, your co senator from Iowa, has 323 00:19:11,840 --> 00:19:13,720 Speaker 1: said that he does not want to have the tariffs 324 00:19:13,840 --> 00:19:16,080 Speaker 1: on the U S m c A. Do you agree 325 00:19:16,119 --> 00:19:17,720 Speaker 1: with that? And do you have any concerns about where 326 00:19:17,800 --> 00:19:19,000 Speaker 1: U S M c A or not the two point 327 00:19:19,000 --> 00:19:22,680 Speaker 1: those stands right now. I absolutely do agree with Senator Grassley, 328 00:19:22,800 --> 00:19:25,440 Speaker 1: those tariffs do need to go away. We want to 329 00:19:25,520 --> 00:19:28,040 Speaker 1: move ahead with U S M c A. I'm really 330 00:19:28,160 --> 00:19:30,880 Speaker 1: excited about the opportunity to get it through the House, 331 00:19:30,960 --> 00:19:33,040 Speaker 1: get it through the Senate get it to the President 332 00:19:33,119 --> 00:19:36,120 Speaker 1: for secondatary so steal the aluminium tariffs in particular. There's 333 00:19:36,160 --> 00:19:39,399 Speaker 1: been a lot of criticisms on those particular terrors, not 334 00:19:39,600 --> 00:19:43,080 Speaker 1: just from Republican colleagues like yourself as well as Senator Grassley, 335 00:19:43,119 --> 00:19:45,400 Speaker 1: but also from the business community. What are you hearing 336 00:19:45,440 --> 00:19:48,679 Speaker 1: from your constituents about the impact these territory How my goodness. 337 00:19:48,760 --> 00:19:52,480 Speaker 1: I just met with some beverage distributors today and of course, 338 00:19:52,640 --> 00:19:56,399 Speaker 1: as they're bottling, all of those go into aluminum and 339 00:19:56,600 --> 00:19:59,200 Speaker 1: ands and this has had a huge effect on those 340 00:19:59,280 --> 00:20:03,160 Speaker 1: that are distribt eating soft drinks and so forth across Iowa. 341 00:20:03,320 --> 00:20:06,920 Speaker 1: They spoke to that, and that's just one industry in Iowa. 342 00:20:07,080 --> 00:20:10,199 Speaker 1: We hear from agg manufacturs all the time. And then 343 00:20:10,240 --> 00:20:13,760 Speaker 1: the end user of those products are farmers, are ranchers. 344 00:20:14,240 --> 00:20:16,800 Speaker 1: They feel the impacts of those tariffs has been very, 345 00:20:16,920 --> 00:20:20,479 Speaker 1: very harmful to the Iowa economy. So is if you're 346 00:20:20,520 --> 00:20:22,480 Speaker 1: if you're outside of Washington and you're trying to figure 347 00:20:22,480 --> 00:20:24,520 Speaker 1: out the timeline of when U S m c A 348 00:20:24,640 --> 00:20:29,879 Speaker 1: could get ratified. This significant pushdock from Republicans to President 349 00:20:29,920 --> 00:20:31,720 Speaker 1: Trump on the issue of tariffs. Is that going to 350 00:20:32,040 --> 00:20:34,480 Speaker 1: potentially derailed the timeline or when do you think it 351 00:20:34,480 --> 00:20:36,880 Speaker 1: will get alter? Well, I am hoping that we get 352 00:20:36,920 --> 00:20:41,120 Speaker 1: it done this summer, and the sooner the better. Um. Now, 353 00:20:41,240 --> 00:20:43,920 Speaker 1: that's just the Joanie Earns time frame. I want to 354 00:20:43,960 --> 00:20:46,400 Speaker 1: see it done soon, and we really need to see 355 00:20:46,440 --> 00:20:49,119 Speaker 1: those tariffs removed. And I have spoken directly to the 356 00:20:49,200 --> 00:20:52,800 Speaker 1: President about this. Another trade from China, and in fact 357 00:20:53,280 --> 00:20:56,800 Speaker 1: US Trade Representative Bob Ladheiser as well as Country Secretary 358 00:20:56,840 --> 00:20:59,440 Speaker 1: Stephen the nation negotiating with the Chinese this week. What 359 00:20:59,480 --> 00:21:01,119 Speaker 1: do you want to see? Don't know? Look, well, I 360 00:21:01,200 --> 00:21:03,840 Speaker 1: do want to see a complete agreement done. I want 361 00:21:03,880 --> 00:21:06,399 Speaker 1: to see that we are able to actually enforce the 362 00:21:06,520 --> 00:21:09,960 Speaker 1: trade deal with China. Of course, we really as Iowans, 363 00:21:10,000 --> 00:21:13,720 Speaker 1: want to see a lot of agricultural product moving into China, 364 00:21:14,040 --> 00:21:16,880 Speaker 1: but we also want to see fair trade. We don't 365 00:21:16,960 --> 00:21:21,879 Speaker 1: want force technology transfers, we don't want um intellectual property theft. 366 00:21:22,200 --> 00:21:24,760 Speaker 1: All of that has to go away, and we want 367 00:21:24,800 --> 00:21:27,359 Speaker 1: to make good trade partners with China. We want to 368 00:21:27,400 --> 00:21:30,520 Speaker 1: say them do the same for us. It's I take 369 00:21:30,600 --> 00:21:33,280 Speaker 1: it back to Iowa. I take it back to Waterloo 370 00:21:33,840 --> 00:21:37,200 Speaker 1: or because so much of what we talked about in 371 00:21:37,240 --> 00:21:41,280 Speaker 1: the discourse on trade policy is about soybeans or certain 372 00:21:41,320 --> 00:21:44,280 Speaker 1: commodities or and whatnot. But they're not just dealing with 373 00:21:44,359 --> 00:21:47,280 Speaker 1: this type of economic uncertainty, you know, they're also dealing 374 00:21:47,359 --> 00:21:50,400 Speaker 1: where they're they're having conversations with their bankers now right 375 00:21:50,880 --> 00:21:54,000 Speaker 1: right right, they are so a number of my town 376 00:21:54,080 --> 00:21:57,800 Speaker 1: halls in Iowa the past several weeks, many many people 377 00:21:57,960 --> 00:22:00,440 Speaker 1: have brought up the fact that now they are going 378 00:22:00,560 --> 00:22:04,399 Speaker 1: to their lenders, they're talking to their banking institutions, and 379 00:22:04,480 --> 00:22:08,240 Speaker 1: those banks are really feeling a bit of this crunch 380 00:22:08,320 --> 00:22:13,119 Speaker 1: as well. With six years of ever decreasing farm revenue, 381 00:22:13,600 --> 00:22:17,080 Speaker 1: the banks are having a hard time justifying extending those 382 00:22:17,240 --> 00:22:21,440 Speaker 1: loans and offering credit. So we have many, many young 383 00:22:21,520 --> 00:22:26,200 Speaker 1: farmers that are taking off farm employment, which is really 384 00:22:26,320 --> 00:22:30,600 Speaker 1: hard when it is a family farm operation. We need 385 00:22:30,680 --> 00:22:34,520 Speaker 1: to get the trade deals done. Senator Joanie Ernst on 386 00:22:34,680 --> 00:22:38,280 Speaker 1: my interview with her, a Republican from Iowa, on Bloomberg Television. 387 00:22:38,359 --> 00:22:41,680 Speaker 1: You can head to Bloomberg TV for the full interview 388 00:22:41,760 --> 00:22:45,119 Speaker 1: on that front breaking news headline crossing the Bloomberg terminal. Now, 389 00:22:45,560 --> 00:22:49,560 Speaker 1: House Judiciary Committee is notified that Attorney General William Barr 390 00:22:49,800 --> 00:22:54,480 Speaker 1: will not testify tomorrow. Coming up? What that means for 391 00:22:54,600 --> 00:22:58,520 Speaker 1: the politics. I'm Kevin CURRELLI, Chief Washington correspondent for Bloomberg 392 00:22:58,520 --> 00:23:02,200 Speaker 1: Television and Bloomberg Radio. And you're listening to Bloomberg N one. 393 00:23:04,320 --> 00:23:08,480 Speaker 1: You're listening to Sound On with Kevin Surreally on Bloomberg 394 00:23:09,359 --> 00:23:12,520 Speaker 1: one and one oh five seven F M h D two, Baltimore. 395 00:23:14,200 --> 00:23:19,720 Speaker 1: What a day Attorney General William Barr testifying in the 396 00:23:19,960 --> 00:23:23,119 Speaker 1: Senate and headlines crossing the Bloomberg terminal as we speak. 397 00:23:23,200 --> 00:23:27,760 Speaker 1: Folks Al's Judiciary Committee notified that Attorney General William Barr 398 00:23:27,840 --> 00:23:30,879 Speaker 1: will not testify tomorrow. Did you follow this? Did you 399 00:23:30,960 --> 00:23:34,919 Speaker 1: follow all of this drama? I'm Kevin CURRELLI, chief Washington 400 00:23:34,960 --> 00:23:38,880 Speaker 1: correspondent for Bloomberg Television and Bloomberg Radio. And the drama 401 00:23:39,400 --> 00:23:44,639 Speaker 1: in the House of Representatives. Jerry Nadler, House Judiciary Committee chairman, 402 00:23:45,520 --> 00:23:50,080 Speaker 1: a Democrat from New York. He wanted to have counsel, 403 00:23:50,200 --> 00:23:55,560 Speaker 1: the counsel of the committee be able to question A. G. Barr, 404 00:23:56,760 --> 00:24:01,359 Speaker 1: and A G. Barr said not, no, not way, no, 405 00:24:01,480 --> 00:24:04,560 Speaker 1: how not gonna happen. Uh. Lawmakers seemed, questioned me, but 406 00:24:04,640 --> 00:24:08,000 Speaker 1: not but not counsel, and he said he wasn't going 407 00:24:08,080 --> 00:24:11,159 Speaker 1: to testify, and now he's notified them that he's not 408 00:24:11,240 --> 00:24:13,480 Speaker 1: going to testify. I'm not sure that makes a difference, 409 00:24:13,480 --> 00:24:15,440 Speaker 1: but we'll talk about it. Uh, we'll talk about it 410 00:24:15,480 --> 00:24:17,600 Speaker 1: with an all star panel. Sarah Kim is a Republican 411 00:24:17,680 --> 00:24:21,800 Speaker 1: strategist and former senior advisor and the Trump administration. She's 412 00:24:21,800 --> 00:24:24,639 Speaker 1: a former healthcare counsel on the House Oversight and Government 413 00:24:24,680 --> 00:24:27,399 Speaker 1: Reform Committee. And Sarah, you also have a new piece 414 00:24:27,560 --> 00:24:32,520 Speaker 1: out in a magazine. Correct, Yes, Carol File Magazine. I 415 00:24:32,560 --> 00:24:34,640 Speaker 1: have this hobby as a food and travel writer, which 416 00:24:34,680 --> 00:24:37,439 Speaker 1: is what I did when I quit politics. In if 417 00:24:37,520 --> 00:24:41,760 Speaker 1: I got sucked back, that's cool. So yeah, you feel 418 00:24:41,760 --> 00:24:44,439 Speaker 1: that's for cap files trap. What's the piece on um? 419 00:24:44,720 --> 00:24:47,919 Speaker 1: It is on the latest beauty products and innovations if 420 00:24:47,960 --> 00:24:51,640 Speaker 1: you need to know for Mother's Day, I also I know, well, 421 00:24:51,680 --> 00:24:53,280 Speaker 1: I think my mom is listening, so I do not 422 00:24:53,560 --> 00:24:57,080 Speaker 1: want I'll talk to you off air about some recommendations 423 00:24:57,160 --> 00:25:01,119 Speaker 1: for Chicki, Sirelli and Delco Pennsylvania. Okay. And Richard Fowler 424 00:25:01,880 --> 00:25:05,040 Speaker 1: is a national, nationally syndicated radio show host and Fox 425 00:25:05,160 --> 00:25:08,320 Speaker 1: News contributor. A Democratic strategist. And we heard earlier in 426 00:25:08,359 --> 00:25:11,280 Speaker 1: the program when we were talking policy, not just a 427 00:25:11,440 --> 00:25:14,040 Speaker 1: g barr from from interviews that I did today was 428 00:25:14,119 --> 00:25:17,399 Speaker 1: Senator Tim Scott, a Republican from South Carolina, and Senator 429 00:25:17,840 --> 00:25:20,000 Speaker 1: Joanie Earns, the Republican from Iowa. I was watching you 430 00:25:20,119 --> 00:25:23,000 Speaker 1: listen to the interview, and you were nodding an agreement 431 00:25:23,000 --> 00:25:24,960 Speaker 1: at some point. Yeah. I mean, I think a lot 432 00:25:25,040 --> 00:25:26,800 Speaker 1: and a lot of Democrats agree with her, especially when 433 00:25:26,840 --> 00:25:28,800 Speaker 1: it comes to the issue of China trade and getting 434 00:25:28,840 --> 00:25:30,600 Speaker 1: this trade deal done. And I think the reason why 435 00:25:31,040 --> 00:25:34,479 Speaker 1: I agree with her is especially talking about our farmers, uh, 436 00:25:34,600 --> 00:25:38,600 Speaker 1: and especially it's hard hit and Iowa parts of Nebraska, 437 00:25:39,080 --> 00:25:41,840 Speaker 1: and especially when it comes to our our our our 438 00:25:42,080 --> 00:25:45,359 Speaker 1: pork farmers and our our poultry farmers in particular because 439 00:25:45,400 --> 00:25:48,080 Speaker 1: there's so much opportunity in the Chinese market right now 440 00:25:48,160 --> 00:25:51,720 Speaker 1: because of the African swine food that's sort of destroyed 441 00:25:51,760 --> 00:25:55,040 Speaker 1: the Chinese pig flock uh, and so our farmers have 442 00:25:55,119 --> 00:25:58,520 Speaker 1: an opportunity be selling our pork in China. But because 443 00:25:58,560 --> 00:26:01,199 Speaker 1: of the tariffs and because the sort of Trump's reckless 444 00:26:01,240 --> 00:26:03,560 Speaker 1: trade policy in China and the fact that we haven't 445 00:26:03,600 --> 00:26:08,040 Speaker 1: resolved this issue Um, we're losing out on millions and 446 00:26:08,160 --> 00:26:10,760 Speaker 1: millions in almost I would say billions of dollars that 447 00:26:10,920 --> 00:26:14,400 Speaker 1: our farmers could be making because they're there, their their 448 00:26:14,440 --> 00:26:16,600 Speaker 1: pork block has been completely wiped out. They're close up 449 00:26:16,640 --> 00:26:20,520 Speaker 1: completely wiped out. I mean, there's just so much to 450 00:26:20,640 --> 00:26:23,960 Speaker 1: unparson there. But I think I think that at the 451 00:26:24,080 --> 00:26:26,080 Speaker 1: end of the day, you know, we have to realize 452 00:26:26,119 --> 00:26:29,200 Speaker 1: that six out of twenty trade deals have already not 453 00:26:29,440 --> 00:26:32,600 Speaker 1: been negotiated, and three of those were done under President Obama. 454 00:26:32,720 --> 00:26:35,119 Speaker 1: And so if we're going to go after presidents on 455 00:26:35,240 --> 00:26:37,240 Speaker 1: what they do and do not do as it relates 456 00:26:37,280 --> 00:26:41,560 Speaker 1: to implementing and negotiating and understanding what trade is coming to, 457 00:26:41,840 --> 00:26:44,360 Speaker 1: we have to realize that at the end of the day, 458 00:26:44,440 --> 00:26:49,679 Speaker 1: the global supply change has fundamentally It's it's so different 459 00:26:50,040 --> 00:26:52,320 Speaker 1: than when Lindsay Graham first came into office. I mean, 460 00:26:52,359 --> 00:26:54,560 Speaker 1: part of the reason why Lindsay is so interested is 461 00:26:54,560 --> 00:26:57,520 Speaker 1: because BMW and Boeing are based there. Well, that's what 462 00:26:57,640 --> 00:26:59,200 Speaker 1: I wanted to go with. That's such a that's such 463 00:26:59,240 --> 00:27:01,040 Speaker 1: a smart point because and this is what we're talking 464 00:27:01,040 --> 00:27:03,920 Speaker 1: about earlier in the program, and take us behind the scenes, 465 00:27:03,960 --> 00:27:06,000 Speaker 1: Serry you know, you're a former senior advisor in the 466 00:27:06,040 --> 00:27:10,080 Speaker 1: Trump administration. Because what's interesting about this is that, again 467 00:27:10,440 --> 00:27:12,440 Speaker 1: when you turn on cable news and when you turn 468 00:27:12,520 --> 00:27:18,040 Speaker 1: on the mainstream reporting, in terms of the investigation coverage, 469 00:27:18,640 --> 00:27:22,720 Speaker 1: you have folks in the Republican Party running towards microphones 470 00:27:22,880 --> 00:27:27,960 Speaker 1: and really echoing President Trump and in lockstep with President Trump. 471 00:27:28,040 --> 00:27:31,399 Speaker 1: You mentioned the Senate Judiciary Committee chairman Lindsay Graham, a 472 00:27:31,440 --> 00:27:35,760 Speaker 1: Republican from South Carolina. You mentioned Boeing being such a heavy, 473 00:27:35,960 --> 00:27:40,680 Speaker 1: heavy hitter in the state of South Carolina, and take 474 00:27:40,800 --> 00:27:46,119 Speaker 1: me behind the scenes to some extent you had talked 475 00:27:46,280 --> 00:27:51,760 Speaker 1: to explained to us how being so vocal on the 476 00:27:52,080 --> 00:27:58,040 Speaker 1: news to jure top line fodder, clickbait fodder, allows someone 477 00:27:58,240 --> 00:28:02,960 Speaker 1: to have the access, the earshot, and the ability to 478 00:28:03,160 --> 00:28:06,639 Speaker 1: hammer home on policy. So it all comes down to 479 00:28:06,720 --> 00:28:10,520 Speaker 1: loyalty and politics and President Trump because he's essentially new 480 00:28:10,640 --> 00:28:14,400 Speaker 1: to Washington, d C. He hasn't built the loyalty both 481 00:28:14,520 --> 00:28:17,440 Speaker 1: ways with most of these United States Senators and members 482 00:28:17,480 --> 00:28:20,600 Speaker 1: of Congress. And so what Lindsay is doing also what 483 00:28:20,720 --> 00:28:22,680 Speaker 1: some of the other more savvy members of the United 484 00:28:22,680 --> 00:28:26,080 Speaker 1: States senator doing, and they're identifying the issues that President 485 00:28:26,119 --> 00:28:30,600 Speaker 1: Trump keenly cares about. Right, let's say the molar investigation. 486 00:28:31,040 --> 00:28:34,720 Speaker 1: Let's say, you know, um, whether or not he should 487 00:28:34,720 --> 00:28:36,639 Speaker 1: be impeached. I mean, these are like two really hot 488 00:28:36,720 --> 00:28:39,080 Speaker 1: button issues of the day. They go to the microphone, 489 00:28:39,120 --> 00:28:42,480 Speaker 1: they defend him to the teeth. And then you know, 490 00:28:42,560 --> 00:28:44,720 Speaker 1: on some of the issues that President Trump doesn't maybe 491 00:28:44,800 --> 00:28:47,400 Speaker 1: care as much about, they can differ on him to 492 00:28:47,560 --> 00:28:51,440 Speaker 1: show that they have some individuality and they're protecting their 493 00:28:51,480 --> 00:28:55,480 Speaker 1: state interest, but they have the cover and they're building loyalty. 494 00:28:56,480 --> 00:28:58,959 Speaker 1: Let me let me play this because because this illustrates 495 00:28:59,080 --> 00:29:02,760 Speaker 1: what we're talking about. Because Senator Graham, the Republican, the 496 00:29:02,840 --> 00:29:09,040 Speaker 1: Senate Judiciary Committee chairman, as Sarah says, Richard defending President 497 00:29:09,080 --> 00:29:14,240 Speaker 1: Trump to the t on the investigation front. And here's 498 00:29:14,240 --> 00:29:16,800 Speaker 1: an illustration of it. At the hearing today with a G. 499 00:29:17,040 --> 00:29:22,320 Speaker 1: William Barr, he got into a heated, heated exchange with 500 00:29:22,760 --> 00:29:27,680 Speaker 1: Senator Hon Harno, a Democrat from Hawaii. Take a listen, 501 00:29:29,440 --> 00:29:33,040 Speaker 1: you've slandered this man. Yeah, what I sort of how 502 00:29:33,080 --> 00:29:35,000 Speaker 1: do we get to this point? I do not think 503 00:29:35,040 --> 00:29:41,160 Speaker 1: that point, Chairman. I am done. Thank you, very man. 504 00:29:41,240 --> 00:29:46,000 Speaker 1: You slandered this man from top to bottom. So there's 505 00:29:46,200 --> 00:29:50,520 Speaker 1: the Senate Judiciary Committee Chairman, Lindsey Graham being going going 506 00:29:50,640 --> 00:29:53,120 Speaker 1: to the with the teeth of the political teeth the 507 00:29:53,160 --> 00:29:55,880 Speaker 1: Sarah put At Richard Fowler, Democratic strategist at a Fox 508 00:29:55,960 --> 00:30:00,040 Speaker 1: News contributor. I mean, it's remarkable because I can't and 509 00:30:00,120 --> 00:30:03,320 Speaker 1: even play the F bomb on our air waves that 510 00:30:03,400 --> 00:30:05,960 Speaker 1: he dropped quoting the Mulla rapport, but he said it 511 00:30:06,360 --> 00:30:09,600 Speaker 1: during a hearing. I mean, it is remarkable. It is remarkable, 512 00:30:09,640 --> 00:30:11,880 Speaker 1: And I think what's more remarkable as they as you know, 513 00:30:12,200 --> 00:30:15,120 Speaker 1: they go in to protect this president. Meanwhile, back at 514 00:30:15,160 --> 00:30:18,000 Speaker 1: the ranch in their states. In Jones here, in states 515 00:30:18,640 --> 00:30:23,160 Speaker 1: in in in Lindsay Graham state, their constituents are suffering, 516 00:30:23,240 --> 00:30:25,360 Speaker 1: their farmers are suffering. That's not the point I'm trying 517 00:30:25,360 --> 00:30:26,760 Speaker 1: to make. And this is what we're trying to say, 518 00:30:27,320 --> 00:30:30,440 Speaker 1: is that on the issues of investigations, when they're going 519 00:30:30,560 --> 00:30:34,640 Speaker 1: aggressively with their rhetorical approach, at the same time, someone 520 00:30:34,760 --> 00:30:38,560 Speaker 1: like a Senator gram Is gets that access inside of 521 00:30:39,240 --> 00:30:42,440 Speaker 1: Pennsylvania Avenue to push back on things like tariffs. Yeah, 522 00:30:42,480 --> 00:30:45,080 Speaker 1: but if I guess if Lindsay Graham and Jones here 523 00:30:45,200 --> 00:30:46,680 Speaker 1: are pushing back on tariffs. It doesn't seem to be 524 00:30:46,720 --> 00:30:49,200 Speaker 1: working very much because they're not alleviating any other pressure 525 00:30:50,000 --> 00:30:52,880 Speaker 1: right because there's no pork being pushed into China right now, 526 00:30:53,520 --> 00:30:56,160 Speaker 1: there's no plans being sold to China, there's no cars 527 00:30:56,200 --> 00:30:59,200 Speaker 1: being sold to Chin still exists. I'll be quite frank. 528 00:30:59,320 --> 00:31:02,600 Speaker 1: I haven't read the Iowa Secretary of Commerce reports on 529 00:31:02,720 --> 00:31:05,680 Speaker 1: economic forecasts. But at the end of the day, but 530 00:31:08,720 --> 00:31:13,320 Speaker 1: I'm homeworkerl But you know, UM, when you look at 531 00:31:13,400 --> 00:31:16,760 Speaker 1: their constituents, they voted Joanie in twice. Now they voted 532 00:31:16,840 --> 00:31:19,240 Speaker 1: lindsay In four times. So I think they trust the 533 00:31:19,360 --> 00:31:22,680 Speaker 1: judgment of their home state senator. And speaking of one 534 00:31:22,840 --> 00:31:25,360 Speaker 1: very senior home state senator, which would be Senator Chuck 535 00:31:25,400 --> 00:31:29,200 Speaker 1: grass lately, UM Senator Grassley does disagree with the President, 536 00:31:29,240 --> 00:31:31,400 Speaker 1: as he did on the tariffs on UM, some of 537 00:31:31,440 --> 00:31:34,240 Speaker 1: the windmills, and some of the conversation around other provisions 538 00:31:34,240 --> 00:31:36,360 Speaker 1: in U. S. M c A. But yet he's been 539 00:31:36,440 --> 00:31:41,280 Speaker 1: there five six terms. And what's fascinating about Senator Grassley 540 00:31:42,000 --> 00:31:44,920 Speaker 1: is that he went to the microphones this week on 541 00:31:45,080 --> 00:31:48,480 Speaker 1: on policy and it doesn't get pick up because it's 542 00:31:48,520 --> 00:31:52,320 Speaker 1: so it's a policy story. But he essentially said that 543 00:31:52,520 --> 00:31:55,320 Speaker 1: he is going to maybe block U. S m c 544 00:31:55,480 --> 00:31:58,280 Speaker 1: A and the Senate from advancing unless the steel and 545 00:31:58,320 --> 00:32:02,320 Speaker 1: aluminum tariffs are not a part of it. He's saying 546 00:32:02,360 --> 00:32:04,320 Speaker 1: to President Trump, you think you have problems with the 547 00:32:04,360 --> 00:32:06,960 Speaker 1: votes in the Democratic controlled House, We'll take a look 548 00:32:06,960 --> 00:32:09,240 Speaker 1: at the Republican controlled Senate if you want an app 549 00:32:09,240 --> 00:32:11,600 Speaker 1: to two point oh or U. S m c A 550 00:32:11,760 --> 00:32:13,480 Speaker 1: get rid of those terrors. He's not the only one. 551 00:32:13,520 --> 00:32:16,360 Speaker 1: I mean, I didn't. We did an interview on Fox 552 00:32:16,440 --> 00:32:18,560 Speaker 1: Business with Pat Toomey and he says he will also 553 00:32:18,560 --> 00:32:20,960 Speaker 1: be voting against um C. I. These are Republicans who 554 00:32:21,000 --> 00:32:22,880 Speaker 1: are locked up with the president when it comes to 555 00:32:22,960 --> 00:32:26,280 Speaker 1: trade policy. They are not with the president whatsoever because 556 00:32:26,320 --> 00:32:30,160 Speaker 1: the impact on their state is real. Well, it's fine 557 00:32:30,280 --> 00:32:33,280 Speaker 1: to have a debate. We're not asking for these senators 558 00:32:33,360 --> 00:32:35,400 Speaker 1: to just roll over and acquiesce if they want to 559 00:32:35,440 --> 00:32:38,720 Speaker 1: have a conversation about it. The conversation it's hurting real. 560 00:32:38,880 --> 00:32:40,840 Speaker 1: We're gonna have to We're gonna have to leave it there. 561 00:32:41,080 --> 00:32:44,800 Speaker 1: Richard Fowler, Democratic strategist, nationally syndicated radio show host, Fox 562 00:32:44,880 --> 00:32:49,560 Speaker 1: News contributed and Sarah Kimp Republican strategist former senior advisor 563 00:32:49,960 --> 00:32:52,600 Speaker 1: and the Trump administration. Pick up Capital File Magazine read 564 00:32:52,640 --> 00:32:55,280 Speaker 1: her peace on What's a gat Mom for Mother's Day? 565 00:32:55,320 --> 00:32:58,760 Speaker 1: And Remember. Head over to Apple iTunes and download the 566 00:32:58,880 --> 00:33:02,320 Speaker 1: sound on x to a podcast for a conversation with 567 00:33:02,520 --> 00:33:07,120 Speaker 1: Senator Tim Scott. We asked about We talked about opportunity 568 00:33:07,240 --> 00:33:09,800 Speaker 1: zones and what the nineteen year old Tim Scott would 569 00:33:09,880 --> 00:33:12,680 Speaker 1: tell himself, also what he's watching on Netflix. You can 570 00:33:12,720 --> 00:33:14,960 Speaker 1: find it on iTunes on the sound on page, and 571 00:33:15,080 --> 00:33:17,240 Speaker 1: you can listen to the sound on show at Bloomberg 572 00:33:17,280 --> 00:33:20,720 Speaker 1: dot com, Radio dot com, I Heart Radio, and Spotify. 573 00:33:20,840 --> 00:33:24,440 Speaker 1: I'm Kevin Cirilli. Thanks for listening. You're listening Bloomberg one.