Speaker 1: Now from our nation's capital. This is Bloomberg's sound on.
Speaker 1: I love it when a plan comes together. And ever
Speaker 1: since they got past transitory, the Fed's plan has sort
Speaker 1: of come together. It takes time for it to flow
Speaker 1: through to the county. And when I say that, really
Speaker 1: the job market that takes time. We're committed to using
Speaker 1: our tools to put inflation on a sustainable toward trajectory.
Speaker 1: The tuber Sloomberg sound on politics, policy and perspective from
Speaker 1: DC's top names based on their temperament and commitment to
Speaker 1: being productive members of society. I hear by pardon, I
Speaker 1: hear by car Yes, I hear by pardon chocolate that
Speaker 1: Chip Floomberg Sound On with Joe Matthew on Bloomberg Radio.
Speaker 1: So fifty basis points, it shall be welcome to the
Speaker 1: fastest hour in politics. With a final helping of economic
Speaker 1: data before Thanksgiving and minutes from the last FED meeting
Speaker 1: that points a moderation, we'll speak with Bloomberg Economics editor
Speaker 1: Michael McKee about the fight against inflation and what it
Speaker 1: means for holiday spending. Later countdown of the runoff, with
Speaker 1: more money piling into Georgia, the second woman to accuse
Speaker 1: herschel Walker of pressuring her into having an abortion comes
Speaker 1: forward with new claims. Well at the latest on the race,
Speaker 1: an analysis from our signature panel Bloomberg Politics contributors Gene
Speaker 1: Chanzano and Rick Davis are here, and later a special
Speaker 1: conversation with Christopher Brown, director of the newly reopened National
Speaker 1: Errand Space Museum in Washington. We had for a more
Speaker 1: expensive Thanksgiving dinner this year. Inflation remains arguably the biggest
Speaker 1: story in America right supported by data out just today,
Speaker 1: and it of course takes on new meaning as we
Speaker 1: had for the holiday season when life is already more expensive,
Speaker 1: and so while backward looking, the FED minutes released today
Speaker 1: were scrutinized for clues in the future policy and whether
Speaker 1: the hikes already made are actually having any impact. And
Speaker 1: joining us to talk about it is Michael McKee, Bloomberg
Speaker 1: Economics editor, who's in town for the FED released today. Michael,
Speaker 1: welcome back, lovely to be here. You quoted this morning
Speaker 1: on television. As I'm watching Bloomberg TV, you quoted the
Speaker 1: great John Hannibal Smith of the eight Team. I love
Speaker 1: it when a plan comes together, Yes, and of course
Speaker 1: in this case complete with soundtrack music. The Fed. J.
Speaker 1: Powell loves it when a plan comes together. What are
Speaker 1: you reading in the tea leaves here or now that
Speaker 1: the minutes are up? Well, they asked me what the
Speaker 1: Fed is thankful for this Thanksgiving, and it's that their
Speaker 1: plan is coming together. They've been raising great significantly and
Speaker 1: inflation has started to come down, Unemployment has barely moved,
Speaker 1: and growth in the fourth quarter is picking up. The
Speaker 1: Atlanta Fed GDP now has US at a four point
Speaker 1: three percent, which is more than double what you would
Speaker 1: think would be UH the trend. So it all looks
Speaker 1: good at this point in time. I don't want to
Speaker 1: say it's gonna last, but if you're J. Pow, you
Speaker 1: know you've got something to be thankful for. UH fifty
Speaker 1: basis points. We're done with the jumbo hikes. That's that's
Speaker 1: one part of that was the conclusion in the minutes,
Speaker 1: and they were very UH strong on that. They said
Speaker 1: almost all UH participants agreed that it was time to
Speaker 1: slow UM the pace of rate increases. They didn't put
Speaker 1: a number on it, but we've heard from them sits
Speaker 1: that they're talking fifty, so I would expect that fifty
Speaker 1: basis points and then is there any potential for a
Speaker 1: slowdown next year if people start talking more about the
Speaker 1: lags and the possible recession. They did talk about one
Speaker 1: of the reasons they wanted to slow things down was
Speaker 1: the lags. They don't know exactly when the full force
Speaker 1: of the tightening is going to hit the economy and
Speaker 1: how fast it's going to bring down inflation, and so
Speaker 1: if they move more slowly, they have more time to
Speaker 1: take a look around see what's happening in the economy
Speaker 1: instead of raising continue to raise rates at like a
Speaker 1: basis point uh pace and having that end up being
Speaker 1: too fast and going too far. Well, so, speaking of
Speaker 1: I love it when a plan comes together. If you
Speaker 1: look at some of the data out this morning, consumer
Speaker 1: sentiment in particular declines. I guess it was less than expected,
Speaker 1: which is good, but still lower. From the University of
Speaker 1: Michigan of consumers say inflation is eroding their buying power,
Speaker 1: and even higher income consumers we're complaining to researchers here
Speaker 1: in the survey saying that it was lowering their living standards. Yeah,
Speaker 1: I'm surprised that the numbers aren't higher. Well, it was
Speaker 1: the worst. This is the apparently higher income consumers reporting
Speaker 1: worst personal finances than lower income consumers for only the
Speaker 1: second time in the survey's history. Is there a trend
Speaker 1: there that speaks to Uh? What it tells you is
Speaker 1: what the Fed already knows that people really hate inflation.
Speaker 1: It's interesting because you will see with higher unemployment that
Speaker 1: the wealthy don't lose their jobs, and so they're less
Speaker 1: concerned about that. But everybody gets hit by inflation, and
Speaker 1: so it is a major issue, and it can get
Speaker 1: out of control, as we saw in the nineteen seventies
Speaker 1: and eighties. Now there a lot of people who say
Speaker 1: that's not going to happen again, that dynamics have changed
Speaker 1: a lot. But the idea that interest rates may have
Speaker 1: to go higher because people start building inflation into their
Speaker 1: calculations is the bottom line of what the Feds afraid of.
Speaker 1: So the University of Michigan study today also showed that
Speaker 1: people's inflation expectations over five years had come down a
Speaker 1: little bit. Uh and UH the current inflation expectations were
Speaker 1: about the same, So they seem to have that at
Speaker 1: the moment under control. It's incredible when you consider the
Speaker 1: impact that energy prices has have had on this whole
Speaker 1: conversation oil and gas. We're looking at three dollars from
Speaker 1: what I understand, three dollars and fifty seven cent average
Speaker 1: today going into the Thanksgiving travel holiday, which was to
Speaker 1: the penny what we were paying on February five, the
Speaker 1: day after Russia invaded Ukraine. So when you go back
Speaker 1: to the eighth of March, when Joe Biden said this,
Speaker 1: I'm gonna do everything I can to minimize prudence price
Speaker 1: hyke here at home, in coordination with our partners, we've
Speaker 1: already announced that we're releasing sixty million barrels the big
Speaker 1: relief from our jointropr We're right back to where we
Speaker 1: were the day this thing started. So there is no
Speaker 1: more putent price hyke at the moment. There is not
Speaker 1: coming up on December five, European theory stops buying Russian oil.
Speaker 1: Uh in theory, that should have an impact on the price,
Speaker 1: but we don't know exactly what's going to happen. Joe
Speaker 1: Biden gets credit for bringing down gasolene prices because he's
Speaker 1: the president, but it really is more so tell our listens, okay.
Speaker 1: So as opposed to the spr releases, and of course
Speaker 1: we have to refill the spr at some point here.
Speaker 1: These are global economic factors driving the price. Yeah, I mean,
Speaker 1: gasoline is a worldwide commodity, and demand plays as much
Speaker 1: of her role in the price as it does for
Speaker 1: anything else. And demand fell during the COVID crisis, and
Speaker 1: it rose sharply immediately afterwards, which put pressure on refiners.
Speaker 1: UM oil didn't go away, but refiners had less capacity
Speaker 1: because they shut down during the pandemic, and they couldn't
Speaker 1: make as much gasoline out of the oil, and so
Speaker 1: they started running their refineries at higher capacity and bringing
Speaker 1: more gasoline to market. The price that everybody quotes when
Speaker 1: they're talking about oil is a futures price. The traders,
Speaker 1: people who trade contracts for oil, actually, uh, they're betting
Speaker 1: on whether they go up or down. It's not what
Speaker 1: the oil companies are or the refiners are paying. They're
Speaker 1: they're paying less than that. So they're able to bring
Speaker 1: down the price. And there's enough gasoline and oil now
Speaker 1: that people think we can make it through the winter
Speaker 1: at time of less demand for gasoline, and China with
Speaker 1: more COVID problems is demanding less gasoline, so it looks
Speaker 1: like a good bet for until China reopens until China
Speaker 1: different and we'll see what happens then. So we go
Speaker 1: into the new year here, I hope the holidays are lovely.
Speaker 1: We start the new year, and what trends are you
Speaker 1: looking for as potential early indicators for a recessions at
Speaker 1: the housing market. What's the first to drop? Well, the
Speaker 1: housing market and autos are usually the first to drop
Speaker 1: because they're the most interest rate sensitive. The auto market
Speaker 1: has been so disrupted by the pandemic that it's hard
Speaker 1: to get a clean read on that because there were
Speaker 1: no cars available, so of course prices go up there
Speaker 1: and the fact that you have to pay more to
Speaker 1: buy a car became less important than the fact that
Speaker 1: there wasn't a car to buy. Now there's more inventory
Speaker 1: coming on, we'll see that how that impacts people. That's
Speaker 1: going to be somewhat offset by this delayed demand that
Speaker 1: wasn't able to be filled. So you look at the
Speaker 1: housing market and markets work. They worked to clear, and
Speaker 1: we've seen in the last couple of weeks morgan rates
Speaker 1: come down a little, even though the FED has been
Speaker 1: raising rates because they get too high and nobody wants
Speaker 1: to buy house, and the people whose business it is
Speaker 1: to sell house. Are are looking for ways to entice
Speaker 1: people in. But I think what you really want to
Speaker 1: watch is unemployment. That's what the FED is going to
Speaker 1: be watching because if demand is slowing as they think
Speaker 1: it should, then companies aren't going to need as many
Speaker 1: workers to produce as much stuff since we're not buying
Speaker 1: as much, and you may see, uh, the unemployment rates
Speaker 1: start to rise once again. It's confused by the pandemic
Speaker 1: because we had so many people who didn't come back
Speaker 1: into the labor force when the pandemic was over and
Speaker 1: companies started hiring. That we don't know if companies want
Speaker 1: to let people go or not because they had such
Speaker 1: a hard time finding them. So what I'm looking for
Speaker 1: is whatever clues I can find, because it's it's gonna
Speaker 1: be hard to untangle a lot of this stuff and
Speaker 1: figure out where we're going. Absolutely so it's possible possible
Speaker 1: to to beat inflation without destroying the job market. It
Speaker 1: may be true this time that you can, uh, you know,
Speaker 1: you're gonna see the unemployment rate go off a little bit,
Speaker 1: but the FED thinks it's below where it should be anyway,
Speaker 1: So how much damage is really going to be the question.
Speaker 1: Fascinating conversation with apologies to Hannibal. I love it when
Speaker 1: a plan comes to kinda. I hope you have a
Speaker 1: great Thanksgiving. Thank you. J Yeah, the eight team right
Speaker 1: here on Bloomberg Sound On as you would expect, not
Speaker 1: just Mike McKee, but the best panel in the business.
Speaker 1: We're gonna turn this over to Rick Davis and Jennie
Speaker 1: Chantano coming up. And I hope Michael that you have
Speaker 1: a great Thanksgiving. Indeed, thanks for being with us. I'm
Speaker 1: Joe Matthew in Washington. We'll check traffic and markets for
Speaker 1: you on the way, and later this hour we're gonna
Speaker 1: bring it to Georgia to find out what's happening in
Speaker 1: the run off your fresh numbers, the first real poll
Speaker 1: that we have seen in the race between Raphael Warnock
Speaker 1: and Herschel Walker. And later on we'll also have a
Speaker 1: special conversation with Christopher Brown, the Air and Space Museum's
Speaker 1: executive director of former top gun pilot who just unlocked
Speaker 1: the doors, opened the doors after a massive renovation. Stay
Speaker 1: with us. I'm Joe Matthew, This is Bloomberg. This is
Speaker 1: Bloomberg sond On with Joe Matthew, on Bloomberg Radio. So
Speaker 1: how do you feel about Chef boy r D this Thanksgiving? Indeed,
Speaker 1: if you want to know how much it's gonna cost,
Speaker 1: they do the story every year. The Farm Bureau is
Speaker 1: the like the arbiter of Thanksgiving Costs. Thirty seventh annual
Speaker 1: survey by the Farm Bureau giving us a snapshot of
Speaker 1: the average cost of this year's classic Thanksgiving feast for ten. Okay,
Speaker 1: now imagine a world in which these numbers applied to
Speaker 1: your table. But it's all about, uh, the relativity here
Speaker 1: correct feast for ten sixty four dollars and five cents.
Speaker 1: That is increase from last year's average of fifty three
Speaker 1: dollars and one cents. The biggest cost, of course, the turkey.
Speaker 1: That's twenty eight dollars ninety six, they say for a
Speaker 1: sixteen pound bird, up from last year. So expensive that
Speaker 1: Senator Joni Ernst, the Republican senator part of the leadership,
Speaker 1: was compelled to go to the Senate floor with a
Speaker 1: massive prop massive can of Chef boy r D to
Speaker 1: make a point. The chairman of the Democrats Congressional Campaign
Speaker 1: Committee said, families struggling with these rising prices should eat
Speaker 1: chef boy r D. That's what he said. We'll get
Speaker 1: to that in a minute. If that is the Democrat solution,
Speaker 1: holds it up in front of the floor. Boy are
Speaker 1: we cooked? Chef Boyard? No, Chef boy are we cooked?
Speaker 1: Was that worth the trouble? She was responding, by the way,
Speaker 1: a referring to Sean Patrick Maloney, who lost his re election,
Speaker 1: the New York Democrat, who referred to his own life
Speaker 1: experience when asked on Fox about inflation. Yeah, well, I
Speaker 1: grew up in a family where, you know, if the
Speaker 1: if the gas price went up, the food budget went down.
Speaker 1: So by this time of the week, we've beaten chef
Speaker 1: Boyard if if that budget wasn't going to change, right,
Speaker 1: So that's what families have to do. That went viral
Speaker 1: and it was twisted into him telling people telling families
Speaker 1: to just have chef boy r D, which incidentally is
Speaker 1: the favorite of something. Let's go back to the good
Speaker 1: that assemble the panel. Rick Davis is back, and so
Speaker 1: is Jennie Chanzano Bloomberg Politics contributors. Rick your back state side,
Speaker 1: So I say welcome and happy Thanksgiving in advance to
Speaker 1: both of you here. Inflation as a political issue, Rick
Speaker 1: can last another year or so. How long before the
Speaker 1: Fed breaks the back of higher prices can Republicans hang
Speaker 1: this around Joe Biden's neck. Well, I think it'll depend
Speaker 1: upon how quickly they can, you know, get ahead of it.
Speaker 1: I mean, we've seen these attempts at trying to rein
Speaker 1: in inflation. Uh, you know, maybe there's some indications of
Speaker 1: positive outcome right now, but that doesn't necessarily last through
Speaker 1: the year. So right now, it's uh, you know, exactly
Speaker 1: what you were talking about earlier. It's for foremost on
Speaker 1: everybody's mind and until at which point in time other
Speaker 1: issues start to challenge that this is going to be
Speaker 1: something that Republicans are gonna talk a lot about. Yeah,
Speaker 1: they say the kids love the chef boy r D Genie,
Speaker 1: they do. I don't know why everybody is picking on
Speaker 1: Chef boy r D. I'm gonna stand up for them
Speaker 1: right now, Joe Matthew and you know, there's not thing
Speaker 1: wrong with a little check, but look, this is it's
Speaker 1: getting to the point where it's a joke on the
Speaker 1: floor of the Senate. How long can that last? When
Speaker 1: when j Powell is up to what he's doing. Obviously
Speaker 1: we just had a long talk with Michael McKee about it,
Speaker 1: and there's a recession, of potential recession looming with prices
Speaker 1: that that could be looking a lot different a year
Speaker 1: from them. Yeah, I mean, I think Republicans will keep
Speaker 1: it up. Um. The reality is it's going to depend
Speaker 1: an awful lot on how the FED handles this. There's
Speaker 1: not an awful lot that the administration itself can do.
Speaker 1: And you know, I was feeling very comforted listening all
Speaker 1: day to Mike McKee talk about, you know, the good news,
Speaker 1: and it seems to be good news. But then I
Speaker 1: looked back like a week or two, and you have
Speaker 1: many economists saying that the FED has to be careful
Speaker 1: about not doing enough, and in fact looking back at
Speaker 1: history and saying there's a danger when the FED doesn't
Speaker 1: do enough um and so you know, very little danger
Speaker 1: when they do too much and to get down to
Speaker 1: where they say they want to be in terms of
Speaker 1: inflation at this two percent target. So you know, I
Speaker 1: think the big question here is what does the FED do?
Speaker 1: And you know, Janie Ernest, when you're playing that, I'm
Speaker 1: thinking back to her commercial with the what was it
Speaker 1: the pigs the wild hogs that this goes back. I'm
Speaker 1: you know, six years or so. But you know, so
Speaker 1: she has the capacity to get some food on her
Speaker 1: table without I guess this is this is why I
Speaker 1: wanted to bring this up. But look, you know, in
Speaker 1: another year or so, of course, prices could be down
Speaker 1: for the wrong reason here, Rick, But you keep moving
Speaker 1: forward into the race for four and we could be
Speaker 1: in a world in which the economy is staging a
Speaker 1: nice recovery. Could Could it be like the second term
Speaker 1: that Ronald Reagan enjoyed? It can Can Joe Biden be
Speaker 1: that candidate if the economy comes back to life and time.
Speaker 1: He's got a long way to go before Reagan eighty
Speaker 1: four in America. We're holding our breath against morning in
Speaker 1: America at this point. It's not going to be a
Speaker 1: landslide obviously like that. But in terms of his own
Speaker 1: his own image, yeah, well look, I mean he's gonna
Speaker 1: I think a great deal of his image is going
Speaker 1: to rest on the success of an economic plan, because
Speaker 1: what comes after an unsuccessful hemming in on inflation is
Speaker 1: going to be recession. And I still don't think there
Speaker 1: are that many people thinking we're not going to you know,
Speaker 1: passed by a recession. And so the question is how
Speaker 1: deep and how long does that last? And I think
Speaker 1: that's going to define probably at least the next six
Speaker 1: to twelve months of his second half of his term. So,
Speaker 1: you know, I think, you know, getting too far ahead
Speaker 1: of everybody on on you know, inflation running its course
Speaker 1: and avoiding a recession. I think Joe Biden's got a
Speaker 1: long way to go before people look at his administration
Speaker 1: as being anything other than less than successful. Rick Davis
Speaker 1: and Genie Chanzano. This day before Thanksgiving there here for
Speaker 1: the hour. We have a lot more to talk about
Speaker 1: as we tackle the race in Georgia. Coming up with
Speaker 1: some breaking news there today as Jane Doe emerges in
Speaker 1: front of cameras and microphones with new evidence against herschel Walker.
Speaker 1: We'll check in on the runoff of the panel next.
Speaker 1: I'm Joe Matthew. This is Bloomberg. So it's the first
Speaker 1: big poll out since the general election, since the actual
Speaker 1: mid term election, day before we even knew that Georgia
Speaker 1: was going to a run office from the A A
Speaker 1: R P. And it does show Raphael Warnock, the Democratic Senator,
Speaker 1: the incumbent, holding ahead of Republican herschel Walker, but not
Speaker 1: via a lot that of course, would be within the
Speaker 1: margin of error here. And while it does look pretty
Speaker 1: good for Senator Warnock, when it comes to independent voters,
Speaker 1: the campaigning continues. Imagine somebody coming to your office and
Speaker 1: they want a job, and they submit to you a resume,
Speaker 1: and every single thing on the resume is a lie everything,
Speaker 1: and yet they want you to hire him for a job. Well,
Speaker 1: that's what herschel Walker is doing. Dan. He said, to
Speaker 1: be a senator, you have to know something. Well, what
Speaker 1: I do know is you haven't done a good job.
Speaker 1: Let's several of the panel. Rick Davis and Jennie Schanzano
Speaker 1: are here, are Bloomberg Politics contributors. What's going on in
Speaker 1: Georgia here? Rick, As we get closer to this race,
Speaker 1: and and I'd love your reaction to these polling numbers,
Speaker 1: is it going to become harder for herschel Walker to
Speaker 1: get the turnout or is Brian Kemp going to make
Speaker 1: the difference for him? Well, I think you've hit the
Speaker 1: nail on ahead. Brian Kemp is going to make the
Speaker 1: difference for him one way or another, right, I mean,
Speaker 1: you know they were basically uh it was a very
Speaker 1: close election. I think we're not goingly got about thirty
Speaker 1: five thousand more votes than herschel Walker. So this was
Speaker 1: a close attempt at the first go round. It's just
Speaker 1: that nobody got to fifty one. Uh. Camp himself got
Speaker 1: two hundred thousand votes that voted for him and did
Speaker 1: not vote for herschel Walker. So when you look at
Speaker 1: that pool of potential that if Kemp could turn out
Speaker 1: fifty thousand of those votes, um, you know for Walker,
Speaker 1: it's a game changer for this election. And from what
Speaker 1: I can tell, you know, my sources on the ground,
Speaker 1: uh you know, uh, Kemp is all in. He's been campaigning.
Speaker 1: He's gonna put an ad up right on Thanksgiving Day,
Speaker 1: endorsing herschel Walker and going after Warnock and his voting
Speaker 1: record against Joe Biden, who is not a popular president
Speaker 1: in Georgia. And and my understanding too is they know
Speaker 1: all this and the camp are in the camp folks
Speaker 1: are really trying to turn out in the districts that
Speaker 1: they did. Well, you know, some of those two hundred
Speaker 1: thousand votes that otherwise herschel Walker didn't get. With all
Speaker 1: this said, Gennie does a four point lead count in
Speaker 1: this poll for Raphael Warnock. You know, it's within the margins,
Speaker 1: so I think we have to assume that it's still
Speaker 1: a toss up. This is one poll. It's it's by
Speaker 1: a reputable uh you know, posters Um for the A
Speaker 1: A r P, as you mentioned, But it's still within
Speaker 1: the margins. So we're still looking at the toss up.
Speaker 1: And while you know Walker has Kemp on his side,
Speaker 1: you also see Barack Obama going down for Warnock, and
Speaker 1: so that should get out the vote. And you know,
Speaker 1: we have to also look at what we've seen just
Speaker 1: in the mid term a few weeks ago. Character matters,
Speaker 1: and we have seen just in the last few days
Speaker 1: several questions about Walker's character, everything from this second woman
Speaker 1: who came forward with these claims of an abortion, to
Speaker 1: the fact that we're learning just the last few hours
Speaker 1: that he's getting a tax breaks on a Texas home
Speaker 1: that he listed as his primary residence in as a
Speaker 1: candidate for the Georgia Senate, to the fact that he
Speaker 1: keeps making missteps and speaking publicly. The latest one on
Speaker 1: Fox which went viral and was quite funny, but I
Speaker 1: won't even dare to repeat it because it's not. It'll
Speaker 1: be the cold Open on SNL this weekend. We don't
Speaker 1: even need to do it. What I Am going to
Speaker 1: point you to is though this news conference in l
Speaker 1: A today with Gloria Alread and whether this matters. This
Speaker 1: is the second woman to allege she was pressured into
Speaker 1: having an abortion by Herschel Walker goes as Jane Doe
Speaker 1: sitting right next to the the famous Gloria Already who's who,
Speaker 1: addresses the cameras and microphones holding a photo of Jane
Speaker 1: Doe and Herschel Walker together. Today we are here to
Speaker 1: challenge her for Walker to meet with our client, Jane Doe,
Speaker 1: the woman that he said recently he did not know
Speaker 1: even though he had a romantic relationship with her for
Speaker 1: six years. Six years. She talks about the three flights
Speaker 1: of stairs he used to walk up to visit her
Speaker 1: in her apartment and then of course got emotion. He
Speaker 1: spoke about threats to me and the baby if I
Speaker 1: went through with pregnancy. Quote. I wanted to just go home,
Speaker 1: and he kept saying they would still find out and
Speaker 1: that they could quote have his heart unquote by threatening
Speaker 1: me in the baby. Reading from her personal diary, she
Speaker 1: brought unseen letters and audio recording. It's rick We've we've
Speaker 1: heard similar about herschel Walker didn't even move the numbers.
Speaker 1: In fact, some could argue that had helped him somehow
Speaker 1: during the general election campaign. Is this going to matter
Speaker 1: in the runoff? You know, look, I think we got
Speaker 1: to look at history in history, the these allegations and
Speaker 1: and and discussions, not just with this Jane Doe, but
Speaker 1: another woman who had a relationship with herschel Walker didn't
Speaker 1: seem to have an impact. Maybe it kept him at
Speaker 1: his Maybe his high is forty seven percent. And maybe
Speaker 1: that's why because you know, a lot of voters in
Speaker 1: Georgia care about the abortion issue. It's clear that Democrats
Speaker 1: are gonna prosecute the abortion issue, not just as it
Speaker 1: relates to his own personal life, but also his uh
Speaker 1: stance on abortion in general. But look, this is a
Speaker 1: guy who, you know, people attacked his mental health, they
Speaker 1: attacked his domestic violence record, they attacked his thinking that
Speaker 1: he was a sheriff when he wasn't, and and and
Speaker 1: and so you know, it's not like you haven't vetted
Speaker 1: this guy. And that's what's interesting about these kinds of elections.
Speaker 1: You've got two weeks to prosecute this and what is
Speaker 1: new here? Um not a lot? And so is that
Speaker 1: going to really make a difference in this election? What
Speaker 1: do you think about this latest turn, this latest update
Speaker 1: from Jane Doe Jan, I think it's just another in
Speaker 1: a long line of questions about whether people in Georgia,
Speaker 1: voters who will get out another time in just a
Speaker 1: few weeks, think that herschel Walker has qualified either personally
Speaker 1: or professionally to be a Georgia Senator to represent them
Speaker 1: in the U. S. Senate. And whether you're talking about
Speaker 1: this woman's allegations, the other woman's allegations, the constant misstatements,
Speaker 1: the you know, statements on now his tax records about
Speaker 1: where his primary residence is, those things all come into play.
Speaker 1: And of course who's going to get out in this
Speaker 1: And it's not going to decide the Senate leadership or
Speaker 1: the Senate who's in control. It's going to be the
Speaker 1: most interested in people who are paying attention. And that
Speaker 1: may make a difference here, and so I would still
Speaker 1: give the slight edge to Warnock, but it's going to
Speaker 1: be a battle to get out the vote from people
Speaker 1: who are exhausted by this you know, I was thinking
Speaker 1: about Warnocks commercial. If we don't decide this in the
Speaker 1: mid term, we're gonna have to spend you know, Thanksgiving
Speaker 1: with herschel Walker here. We are, here, we are, So
Speaker 1: can we at least put this all down for Thanksgiving?
Speaker 1: I know we'll be back to it probably on Friday
Speaker 1: when everyone's punching each other at the best Buy or
Speaker 1: the Walmart or whatever they do on Black Friday. If
Speaker 1: we still do that, But let's put it down for
Speaker 1: a day and let me thank you Genie and let
Speaker 1: me thank you Rick for being the best panel in
Speaker 1: the business and always providing such wonderful analysis and companionship
Speaker 1: for all of our listeners going home. So cheers to
Speaker 1: you two, and thank you. Happy Thanksgiving. Absolutely Bloomberg Politics contributors,
Speaker 1: they make our signature panel. I'm Joe Matthew and Washington
Speaker 1: and something special ahead. We're gonna visit the National Air
Speaker 1: and Space Museum and talk to their new relatively new director,
Speaker 1: Christopher Brown, a former top gun pilot, and it's in
Speaker 1: charge of reimaging the whole thing. Half of it just
Speaker 1: reopen and we get a sneak peak next. I'm Joe Matthew,
Speaker 1: this is Bloomberg. This is Bloomberg. So long with Joe
Speaker 1: Matthew on Bloomberg Radio. So, the Smithsonian Air and Space
Speaker 1: Museum on the Nash Hittle Mall is just reopened, having
Speaker 1: been totally shut down from massive renovations for months. About
Speaker 1: half the job is done now with new exhibits and
Speaker 1: an emphasis on diverse voices that have helped to advance
Speaker 1: air and space exploration. I was lucky to sit down
Speaker 1: with Christopher Brown, the Air and Space Museum's executive director
Speaker 1: of former top gun pilot, former director of Dulles Airport
Speaker 1: and Reagan National Airport here in Washington, d C. To
Speaker 1: learn more about the project and get an up close
Speaker 1: look at the job underway. Well, I think the bigger task,
Speaker 1: quite frankly, is re envisioning this national treasure for the future.
Speaker 1: I mean, it's we know it's impact. You've just said
Speaker 1: that it's influenced you. I came here in nineteen seventy seven,
Speaker 1: a year after SO opening. I was nineteen years old,
Speaker 1: and I was really struck by the d C three
Speaker 1: above us because that was an aircraft I had flown
Speaker 1: in as a small child, and so I made that
Speaker 1: connection and that that led to my professional life and aviation.
Speaker 1: So we know the power of the place. Not as
Speaker 1: scary as landing at night on a ship, but very
Speaker 1: very important. The level of stress might be approaching that. Uh.
Speaker 1: It's interesting to think that this wing has been closed
Speaker 1: since before COVID. You said when it reopened recently. The
Speaker 1: real measure of success will be when visitors return home
Speaker 1: and say, you must see this. Is that already happening. Absolutely,
Speaker 1: we're getting about five thousand visitors a day, and we've
Speaker 1: had really good feedback both through the media and through
Speaker 1: our visitors, and I think part of it is because
Speaker 1: it's forty almost the artifacts in the museum today are
Speaker 1: here for the first time, and we're able to expand
Speaker 1: the storytelling in a way that The other measure of
Speaker 1: success is we we hope that everybody coming into this museum,
Speaker 1: however they present, whatever they look like, wherever they come from,
Speaker 1: they will be able to see themselves in the stories
Speaker 1: and the artifacts, just as I did in It's not
Speaker 1: lost on me that one of the big talkers here
Speaker 1: is this Xing fighter from the Star Wars movies. Obviously,
Speaker 1: it is not an operational aircraft or or a piece
Speaker 1: of history the way some of these other exhibits are.
Speaker 1: But it speaks to the vision that you have in
Speaker 1: connecting fantasy with innovation. What's that lesson for young people? Well,
Speaker 1: it starts with an idea and that there's that moment
Speaker 1: of inspiration and it can come any number of ways.
Speaker 1: So for instance, if you go into our Destination Moon
Speaker 1: gallery or tell the Story of Apollo, you'll see games
Speaker 1: and some of the things that the young astronauts were
Speaker 1: influenced by his children. So we know the iconic value
Speaker 1: or the influential value of these artifacts. And I've taken
Speaker 1: some heat for the X Wings. People said it's never flown,
Speaker 1: it's why is it near in space Museum? And I
Speaker 1: I remind folks, I said, well, we have six thousand
Speaker 1: paintings that never flew. So it's really a question of
Speaker 1: meeting our audiences where they are. What is it that
Speaker 1: connects to them, that resonates, and we know that the
Speaker 1: power of the X Wing fighter does that for a
Speaker 1: lot of our audience. Well, you've got a lot of
Speaker 1: competition for eyeballs and and interest, right you you're trying
Speaker 1: to appeal to kids who are on TikTok and social media,
Speaker 1: and have the attention span of a ten second video.
Speaker 1: So I'm guessing this actually helps the bridge that divide.
Speaker 1: It does, and I think that what we really hold
Speaker 1: dear at the Smithsonian and certainly here at this museum,
Speaker 1: is a commitment to authenticity and accuracy, so that when
Speaker 1: you come here, whether it's in person or virtually, this
Speaker 1: is the real deal. And so sometimes some of the
Speaker 1: other media and influencers in our lives can't lay that claim,
Speaker 1: and so it's really important that we hold it at
Speaker 1: because it's not just the artifacts and the and how
Speaker 1: real they are and authentic, it's the stories, the people's
Speaker 1: stories behind them. There are amazing stories all around us,
Speaker 1: including that of the Apollo mission. The Apollo eleven capsule
Speaker 1: is something that reminds us of the harsh environment that
Speaker 1: is space as you and I sit here and Orion
Speaker 1: Space capsule is orbiting the Moon. How much do current
Speaker 1: events drive your vision for the museum? Well, very much, so,
Speaker 1: I mean very Folks often think of museums having a
Speaker 1: retrospective look, and so it begs the question why is
Speaker 1: why do we have a gallery dedicated to the Apollo missions?
Speaker 1: What's its relevance? The why and other than the fact
Speaker 1: that it was just an amazing story. You know, the
Speaker 1: President just a few months ago, I think, used the
Speaker 1: term moonshot, So what is moonshot me into a generation
Speaker 1: today that was not alive during Apollo. Most of the
Speaker 1: people coming into that gallery today will not have been
Speaker 1: alive to see the launches of the Saturn fives and
Speaker 1: the Apollo era. And I think the relevance and the
Speaker 1: reason we tell that Apollo story really gets down to
Speaker 1: four elements. One is, you know, to take on a
Speaker 1: big challenge and to solve problems, you need a strong vision.
Speaker 1: Certainly Kennedy articulated that you need a commitment of national
Speaker 1: resource fousand American it's millions of dollars working on that project.
Speaker 1: You need a tolerance for risk, You have to be
Speaker 1: willing to take chances. And then you have to have
Speaker 1: that human ingenuity that I think is often underestimated. And
Speaker 1: when you put those things together, what the Apollo missions demonstrated,
Speaker 1: you can do incredible things. So fast forward, how does
Speaker 1: that play out with climate change and curing cancer and
Speaker 1: some of these seemingly intractable problems. I walked through that
Speaker 1: gallery and say, no, we can sell problems a seven
Speaker 1: year project I believe in total, Yes, this is a
Speaker 1: huge undertaking. Does it have a price tag? It does.
Speaker 1: This is an investment both by the citizens of this country.
Speaker 1: Their taxes have paid for seven nine million dollars of
Speaker 1: rebuilding this building, but importantly, the actual galleries, the look
Speaker 1: and feel like this gallery is financed privately and through
Speaker 1: our corporate and individual benefactors. I'm compelled by your personal
Speaker 1: story or career year fifteen traps more than fifteen hundred
Speaker 1: hours flying the F fourteen Tomcat, this iconic fighter plane.
Speaker 1: You went on to be the manager of Dullest Airport,
Speaker 1: Reagan National Airport, the director here at the Air and
Speaker 1: Space Museum. But you've said in conversations that in flight
Speaker 1: school you experienced something called I believe it's a flight down.
Speaker 1: Oh yeah, absolutely, that you actually failed the equivalent of
Speaker 1: a certain exercise that you needed to pass in your training.
Speaker 1: I just wonder how much that influenced your approach to
Speaker 1: your career or your trajectory after that. Well, it's very
Speaker 1: humbling to be told that you failed in something you've
Speaker 1: worked hard at. But I think what it does is
Speaker 1: it's a real test of character to decide you know
Speaker 1: how invested are you in what it is you're doing,
Speaker 1: And just with Exploration with Apollo, with all these stories,
Speaker 1: there was failure along the way, and you learn from
Speaker 1: your failures. It's always important not to repeat the failures,
Speaker 1: but to learn from them, but to think that we're
Speaker 1: gonna do incredible things, either at a level like this museum,
Speaker 1: land a person on the moon, or in my case,
Speaker 1: learn to fly on aircraft on and off a carrier.
Speaker 1: Failure is part of that process. Big thanks to Christopher Brown,
Speaker 1: director of the Air and Space Museum here in Washington,
Speaker 1: which you must see now that it's beginning to reopen.
Speaker 1: And on this day before the holiday, with National Thanksgiving
Speaker 1: Turkey's chocolate and chip having been pardoned by President Biden,
Speaker 1: we remember the White House tradition that dates back to
Speaker 1: President John Kennedy, the great Turkey pardon you know as
Speaker 1: the University of Delaware, man, I'm partial Blue Hens. Today
Speaker 1: we're gonna talk turkey. I never promised you God. This
Speaker 1: turkey represents America's forty five million to piece who will
Speaker 1: begin making their irreplaceable contribution to our Thanksgiving celebration. So
Speaker 1: take it easy, Turkey. We're just here to serve you.
Speaker 1: Our guest of honor looks a little nervous. Nobody's tolding
Speaker 1: yet that I'm going to give him a pardoner. I
Speaker 1: know some folks think this tradition is a little silly.
Speaker 1: I do not disagree. I've got to listen to my critics,
Speaker 1: UH say I'm often too soft on turkeys. I am
Speaker 1: pleased to announce that today's lucky bird and guests of
Speaker 1: Anna is named Peas, along with his alternate named Carrots.
Speaker 1: The children will understand that who better help celebrate the
Speaker 1: holiday in which they break the bread for two turkeys
Speaker 1: name peanut, butter and Jelly. This turkey is going to
Speaker 1: be called Flyer, and the backup verde name is Friar.
Speaker 1: This year's lucky bird corn, and just in case we
Speaker 1: needed him copy, this year's national turkey goes by the
Speaker 1: name of Apple, and his feathered understudy is appropriately named Cider.
Speaker 1: Even though Peas and Carrots have received a presidential pardon,
Speaker 1: I have warned them that House Democrats are likely to
Speaker 1: issue them both subpoenas totis the turkey of the United States. Folks,
Speaker 1: Turkey is infrastructure. Peanut Brutter and Dreill are gonna help
Speaker 1: build black the butter ball. As Thanksgiving is a special
Speaker 1: day for turkeys, I guess, probably for the most part,
Speaker 1: not a very good one when you think about it.
Speaker 1: The first turkey to dodge the White House dinner table
Speaker 1: received unofficial clemency when President abrah Am Lincoln's son Tad
Speaker 1: begged his father to spare his new friend. His son,
Speaker 1: Tad grew so attached to the turkey that he named
Speaker 1: him Jack, and President Lincoln had no choice but to
Speaker 1: give Jack the full run of the White House. Jack
Speaker 1: was here actually for some monumental events. On election Day
Speaker 1: in eighteen sixty four, when Mr Lincoln was running for
Speaker 1: re election, a special polling place was actually set up
Speaker 1: right here on the grounds of the White House so
Speaker 1: that the soldiers could vote well. Jack the turkey actually
Speaker 1: strutted in front of some of the would be voters
Speaker 1: the broken line. Lincoln asked his son, why is your
Speaker 1: turkey at the polls? Does he vote without hesitation? Tad
Speaker 1: said he's not old enough yet. Tomorrow, forty five million
Speaker 1: turkeys will make the ultimate sacrifice for America's feast, but
Speaker 1: not this one. I'm granting this turkey a permanent reprieve.
Speaker 1: After many years and the coop. He's on his way
Speaker 1: to a farm and ViRGE Enya to bask in the sun,
Speaker 1: collect his hard earned pension, enjoy his golden years. And
Speaker 1: that's one less Turkey in Washington. Happy Thanksgiving,