1 00:00:01,440 --> 00:00:06,160 Speaker 1: Now from our nation's capital. This is Bloomberg Sound On. 2 00:00:07,240 --> 00:00:10,119 Speaker 1: I'm a little bit unimpressed of the discipline and the 3 00:00:10,160 --> 00:00:13,440 Speaker 1: training level of the Russian forces. As bad and as 4 00:00:13,600 --> 00:00:16,239 Speaker 1: terrific as it is, we want to make sure that 5 00:00:16,360 --> 00:00:20,440 Speaker 1: we do not see an escalation. Bloomberg sound on Politics, 6 00:00:20,480 --> 00:00:24,439 Speaker 1: Policy and prespective from DC's top name. My senses the 7 00:00:24,520 --> 00:00:27,360 Speaker 1: commodity persian were made very high, elevated certainly over the 8 00:00:27,400 --> 00:00:29,880 Speaker 1: next few months, probably first after the year. You Republicans 9 00:00:29,920 --> 00:00:32,600 Speaker 1: want to give Democrat Day victory on getting topped with 10 00:00:32,720 --> 00:00:36,000 Speaker 1: China on a political basis. The answer is no. Bloomberg 11 00:00:36,200 --> 00:00:41,800 Speaker 1: Sound On with Joe Matthew on Bloomberg Radio. But war 12 00:00:41,880 --> 00:00:45,479 Speaker 1: in Ukraine plays out on the split screen, with diplomacy 13 00:00:45,560 --> 00:00:50,159 Speaker 1: continuing on one side even as Russia intensifies its bombing 14 00:00:50,200 --> 00:00:53,199 Speaker 1: campaign on the other. At some point we will be 15 00:00:53,280 --> 00:00:56,080 Speaker 1: left with just one Welcome to the Fastest Hour in Politics. 16 00:00:56,120 --> 00:00:58,960 Speaker 1: With a blizzard of headlines from Washington around the world. 17 00:00:59,520 --> 00:01:01,520 Speaker 1: We're gonna go through the mall and have the latest 18 00:01:01,520 --> 00:01:05,080 Speaker 1: for you. As always here on the Fastest Hour in Politics. 19 00:01:05,080 --> 00:01:07,760 Speaker 1: Will discuss it all ahead with former Secretary of Defense 20 00:01:07,840 --> 00:01:11,000 Speaker 1: Mark Esper. Senator Joe Manchin says he's a no on. 21 00:01:11,080 --> 00:01:13,640 Speaker 1: Sarah bloom raskin the White House says it's standing by 22 00:01:13,680 --> 00:01:16,200 Speaker 1: its FED nominee. We're gonna get the view later this 23 00:01:16,280 --> 00:01:20,600 Speaker 1: hour by Sarah Binder, fed specialist and senior fellow at 24 00:01:20,640 --> 00:01:22,959 Speaker 1: the Brookings Institution. And we start the week with our 25 00:01:22,959 --> 00:01:27,600 Speaker 1: signature panel. Bloomberg Politics contributors Jeanie Schanzano and Rick Davis 26 00:01:27,600 --> 00:01:30,480 Speaker 1: are with us for the hour. Talks continued between Ukraine 27 00:01:30,520 --> 00:01:34,040 Speaker 1: and Russia, but so does the fighting, with the shelling 28 00:01:34,120 --> 00:01:37,080 Speaker 1: of residential areas around the capital of Kiev now and 29 00:01:37,120 --> 00:01:41,480 Speaker 1: all over the country now almost five million people displaced. 30 00:01:42,240 --> 00:01:46,080 Speaker 1: National Security Advisor Jake Sullivan opening talks today with China's 31 00:01:46,120 --> 00:01:50,160 Speaker 1: top diplomat. They met in Rome for seven hours. The 32 00:01:50,240 --> 00:01:52,840 Speaker 1: last meeting I read was six. Today they hit seven 33 00:01:53,760 --> 00:01:58,560 Speaker 1: following reports that Moscow asked Beijing for military assistance in Ukraine, 34 00:01:58,640 --> 00:02:01,680 Speaker 1: something the Russians were quick to deny this morning, but 35 00:02:01,760 --> 00:02:05,200 Speaker 1: State Department spokesman Ned Price today says the US raised 36 00:02:05,200 --> 00:02:08,080 Speaker 1: concerns in that meeting. Here. He is the National Security Advisor, 37 00:02:08,320 --> 00:02:11,920 Speaker 1: our assistant secretary, our delegation met with Youngature and his 38 00:02:12,000 --> 00:02:17,160 Speaker 1: delegation to precisely make clear our concerns UH and to 39 00:02:17,320 --> 00:02:21,640 Speaker 1: be very candid in terms of UH the implications, but 40 00:02:21,720 --> 00:02:26,440 Speaker 1: the administration will not detail what the potential implications are 41 00:02:26,639 --> 00:02:28,720 Speaker 1: or could be. And that is where we begin today 42 00:02:28,720 --> 00:02:32,200 Speaker 1: with former Secretary of Defense Mark Esper, who will soon 43 00:02:32,240 --> 00:02:33,800 Speaker 1: be out with a book about his time at the 44 00:02:33,800 --> 00:02:38,000 Speaker 1: Pentagon called Sacred Oath. Mr Secretary, thank you for being here. 45 00:02:38,200 --> 00:02:40,280 Speaker 1: Is the US trying to keep China out of this 46 00:02:40,440 --> 00:02:44,000 Speaker 1: or does the administration hope to use Beijing to help 47 00:02:44,120 --> 00:02:47,360 Speaker 1: end this war? Oh? Joe, First of all, good to 48 00:02:47,400 --> 00:02:49,560 Speaker 1: be with you. And I think to answer your question, 49 00:02:50,160 --> 00:02:52,120 Speaker 1: we would love to have China on the side of 50 00:02:52,160 --> 00:02:55,919 Speaker 1: the West in this in this conflict, but unfortunately, I 51 00:02:55,960 --> 00:02:57,520 Speaker 1: don't think we're going to see if that happened. There 52 00:02:57,600 --> 00:03:00,320 Speaker 1: is a strategic partnership that has emerged over the years 53 00:03:00,360 --> 00:03:05,919 Speaker 1: between Moscow and Beijing. UH. This invasion of Ukraine by Russia, however, 54 00:03:06,000 --> 00:03:09,760 Speaker 1: has placed China in somewhat of an uncomfortable position for 55 00:03:09,880 --> 00:03:12,480 Speaker 1: reasons we can discuss. But as much as we'd like 56 00:03:12,520 --> 00:03:14,200 Speaker 1: to have China on our side, I do not see 57 00:03:14,240 --> 00:03:17,399 Speaker 1: it happening. I'm sure you heard Russia hit the Ukrainian 58 00:03:17,440 --> 00:03:20,760 Speaker 1: military range over the weekend. It's only about fifteen miles 59 00:03:20,760 --> 00:03:23,760 Speaker 1: from the border of Poland. Secretary, the administration continues to 60 00:03:23,760 --> 00:03:29,760 Speaker 1: promise severe consequences if Russia hits NATO territory. Secretary, what 61 00:03:29,880 --> 00:03:33,720 Speaker 1: does severe consequences look like in that case? Well, first 62 00:03:33,720 --> 00:03:36,560 Speaker 1: of all, I'm familiar with that the facility Laviva was 63 00:03:36,560 --> 00:03:39,160 Speaker 1: there a secretary of the Army in and we had 64 00:03:39,200 --> 00:03:42,000 Speaker 1: a number of NATO allies along with US training the Ukrainians, 65 00:03:42,040 --> 00:03:44,320 Speaker 1: and I think the result of those years of training 66 00:03:44,320 --> 00:03:47,880 Speaker 1: and the arms we pumped into Ukraine have really served 67 00:03:48,040 --> 00:03:50,320 Speaker 1: the Ukrainian as well these past three weeks as they 68 00:03:50,400 --> 00:03:53,440 Speaker 1: really beat back the Russian Army have done a very 69 00:03:53,440 --> 00:03:56,520 Speaker 1: good job of surprisingly a good job. That said, to 70 00:03:56,560 --> 00:04:00,760 Speaker 1: your question, Uh, the message about defending NATO allies severe 71 00:04:00,800 --> 00:04:03,960 Speaker 1: consequences is the right, uh message to send to Russia. 72 00:04:04,040 --> 00:04:06,320 Speaker 1: They need to know that we will defend our allies 73 00:04:06,360 --> 00:04:09,480 Speaker 1: under Article five of the treaty, and that and that 74 00:04:09,520 --> 00:04:11,960 Speaker 1: we're prepared to active need be. I have been arguing 75 00:04:12,000 --> 00:04:14,120 Speaker 1: for some time now publicly that we should be pumping 76 00:04:14,120 --> 00:04:18,640 Speaker 1: more forces into the frontline states, whether it's the Baltics, Poland, Hungary, 77 00:04:18,720 --> 00:04:22,279 Speaker 1: Romania and even Bulgaria. I've not seen that happen, at 78 00:04:22,360 --> 00:04:24,560 Speaker 1: least not at the pace I like, because we have 79 00:04:24,640 --> 00:04:27,320 Speaker 1: no idea where this conflict is going to go. I 80 00:04:27,400 --> 00:04:30,599 Speaker 1: think it's gonna last months and it and I don't 81 00:04:30,600 --> 00:04:33,520 Speaker 1: see Vladimir Putin backing down at all. So we need 82 00:04:33,560 --> 00:04:35,599 Speaker 1: to prepare for the worst as we work for the best. 83 00:04:35,760 --> 00:04:38,880 Speaker 1: So you want to see more US forces in Eastern Europe? 84 00:04:39,200 --> 00:04:43,440 Speaker 1: Do you want to see more hardware in Ukraine? Is well, Secretary, 85 00:04:43,480 --> 00:04:45,520 Speaker 1: There's been a big argument, as you well know about 86 00:04:45,640 --> 00:04:48,960 Speaker 1: mid twenty nine from Poland whether those should be transferred, 87 00:04:48,960 --> 00:04:52,800 Speaker 1: and it's looking like Republicans on Capitol Hill with some 88 00:04:52,880 --> 00:04:55,800 Speaker 1: Democrats as well, could have legislation that maybe forces the 89 00:04:55,800 --> 00:04:58,400 Speaker 1: hand of the administration on this. What do we need 90 00:04:58,440 --> 00:05:01,599 Speaker 1: to give Ukraine now? I think, first and foremost, we 91 00:05:01,640 --> 00:05:04,159 Speaker 1: need to keep the supply chains open with regard to 92 00:05:04,360 --> 00:05:08,719 Speaker 1: UH anti armor weapons such as Javelin Javelin's anti air 93 00:05:08,760 --> 00:05:11,239 Speaker 1: weapons such as Stingers, and maybe even look at providing 94 00:05:11,279 --> 00:05:14,719 Speaker 1: them with more medium range air defense systems that some 95 00:05:14,800 --> 00:05:18,359 Speaker 1: of our allies have, such as S three hundreds. We 96 00:05:18,400 --> 00:05:20,760 Speaker 1: should provide them with anti ship cruise missiles, and then 97 00:05:20,760 --> 00:05:22,920 Speaker 1: we can get into more into other items such as 98 00:05:22,920 --> 00:05:25,760 Speaker 1: counter battery radars UH and of course keep up the 99 00:05:25,760 --> 00:05:29,960 Speaker 1: ammunition supply the MiGs. I think we should definitely come 100 00:05:30,040 --> 00:05:31,760 Speaker 1: up with a plan to get those to them now. 101 00:05:31,800 --> 00:05:34,600 Speaker 1: I understand that the Ukrainians have not used all their 102 00:05:34,600 --> 00:05:37,400 Speaker 1: air force to date, but nonetheless at some point they'll 103 00:05:37,400 --> 00:05:39,440 Speaker 1: need to replenish that, and it's it's not as easy 104 00:05:39,480 --> 00:05:41,599 Speaker 1: as it sounds. You also have to work out how 105 00:05:41,600 --> 00:05:44,120 Speaker 1: you provide maintenance for those planes, how you would rearm them, 106 00:05:44,120 --> 00:05:46,440 Speaker 1: refuel them. All those things need to be worked out. 107 00:05:46,440 --> 00:05:51,000 Speaker 1: But I think the bipartisan group of members on Capitol 108 00:05:51,080 --> 00:05:54,240 Speaker 1: Hill pushing the administration is the right thing to do. 109 00:05:54,920 --> 00:05:58,039 Speaker 1: We should give Ukraine what it's looking for on this one. Again, 110 00:05:58,040 --> 00:06:00,960 Speaker 1: it will take some time, but we ship again prepare 111 00:06:00,960 --> 00:06:02,560 Speaker 1: for the long haul. This is not gonna end in 112 00:06:02,600 --> 00:06:05,280 Speaker 1: a in a matter of weeks. How symbolic would that 113 00:06:05,400 --> 00:06:08,360 Speaker 1: gesture be if we gave them the mid twenty nine Secretary, 114 00:06:08,400 --> 00:06:11,160 Speaker 1: I ask you that because the administration seems to have 115 00:06:11,160 --> 00:06:15,159 Speaker 1: decided it wouldn't actually add a lot of military capability 116 00:06:15,240 --> 00:06:18,920 Speaker 1: to Ukraine, that they'd be better served with more ground 117 00:06:18,880 --> 00:06:21,240 Speaker 1: to air missiles and so forth. It's hard to tell 118 00:06:21,360 --> 00:06:24,000 Speaker 1: if is that a cover line or is it true. 119 00:06:24,080 --> 00:06:26,120 Speaker 1: You give them the MiGs, fine, but they're not going 120 00:06:26,160 --> 00:06:29,280 Speaker 1: to make a big difference in the war. Well, there 121 00:06:29,360 --> 00:06:31,600 Speaker 1: is some truth to what the administration is saying. If 122 00:06:31,600 --> 00:06:34,400 Speaker 1: you look at the these indiscriminate attacks that are being 123 00:06:34,480 --> 00:06:37,320 Speaker 1: levied on Ukrainian cities, most of them are coming from rockets, 124 00:06:37,320 --> 00:06:40,680 Speaker 1: cruise missiles and artillery, so they're not necessarily the majority 125 00:06:40,760 --> 00:06:44,960 Speaker 1: is not happening from UH air strikes. Um. So I 126 00:06:45,000 --> 00:06:47,560 Speaker 1: think that's why I argue we need to provide anti 127 00:06:47,600 --> 00:06:51,080 Speaker 1: aircraft defenses, counter battery radar that can shoot back it 128 00:06:51,760 --> 00:06:57,760 Speaker 1: at Russian artillery. That's said, at some point the Ukrainians 129 00:06:57,800 --> 00:06:59,800 Speaker 1: may want to go more on the offensive and take 130 00:07:00,000 --> 00:07:04,200 Speaker 1: to use their own aircraft in air strikes against Russian 131 00:07:04,240 --> 00:07:07,480 Speaker 1: cruise missiles artillery positions. So in that sense, it makes 132 00:07:07,720 --> 00:07:09,880 Speaker 1: it makes more sense and it's more logic. So there's 133 00:07:09,880 --> 00:07:12,000 Speaker 1: truth on both sides of this. That's why I would 134 00:07:12,000 --> 00:07:13,760 Speaker 1: not take this off the table. I think we should 135 00:07:13,760 --> 00:07:16,480 Speaker 1: work toward it because I see this being a long fight. 136 00:07:16,560 --> 00:07:18,000 Speaker 1: This is not something that's going to end in a 137 00:07:18,040 --> 00:07:22,360 Speaker 1: matter of days. What does the playbook look like right now? Secretary. 138 00:07:22,400 --> 00:07:23,800 Speaker 1: I know that you don't hold it in your hands, 139 00:07:23,840 --> 00:07:26,200 Speaker 1: but you have a sense of the deliberations that go 140 00:07:26,280 --> 00:07:29,720 Speaker 1: into a conflict like this. I'm sure the US has 141 00:07:29,800 --> 00:07:32,880 Speaker 1: any number of scenarios that have been mapped out here. 142 00:07:32,920 --> 00:07:35,920 Speaker 1: But are forces in countries like Poland, since we're talking 143 00:07:35,920 --> 00:07:38,600 Speaker 1: about that, who are near the border. Are they equipped 144 00:07:38,960 --> 00:07:42,000 Speaker 1: with a range of options to act immediately if in 145 00:07:42,080 --> 00:07:44,720 Speaker 1: fact Russia did cross the border, and what are those 146 00:07:44,720 --> 00:07:48,160 Speaker 1: options look like. Well, that's why I argue that we 147 00:07:48,200 --> 00:07:51,800 Speaker 1: should bolster our forces in those countries, both to deter 148 00:07:51,920 --> 00:07:55,480 Speaker 1: Russia and to reassure our allies again in the Baltics, 149 00:07:55,560 --> 00:07:58,960 Speaker 1: the Pole, in Poland, in Romania, etcetera. And then it 150 00:07:59,000 --> 00:08:02,480 Speaker 1: maybe if if we end up decidement for we need 151 00:08:02,520 --> 00:08:04,560 Speaker 1: to do a no flies on, at least we'd be 152 00:08:04,680 --> 00:08:06,800 Speaker 1: in a position to do that, which means not just 153 00:08:06,960 --> 00:08:09,720 Speaker 1: having aircraft, but you have to have air defense systems. 154 00:08:09,760 --> 00:08:12,600 Speaker 1: That said, I think it's very unlikely that Russia crosses 155 00:08:12,680 --> 00:08:16,720 Speaker 1: into a NATO country. I could be wrong, but I 156 00:08:16,720 --> 00:08:19,520 Speaker 1: think it's unlikely. I think they're in a slow grind 157 00:08:19,520 --> 00:08:22,240 Speaker 1: to try and seize Kiev and other cities. Um they 158 00:08:22,360 --> 00:08:25,720 Speaker 1: clearly have not met Putin's timeline, and I think we're 159 00:08:25,720 --> 00:08:28,960 Speaker 1: going to continue to see this encirclement followed by bombardment, 160 00:08:29,040 --> 00:08:32,160 Speaker 1: followed by the starvation and deprivation of the Ukrainian people 161 00:08:32,600 --> 00:08:36,400 Speaker 1: until Putin is able to decapitate Ukraine. We're talking with 162 00:08:36,480 --> 00:08:39,760 Speaker 1: former U S Secretary of Defense Mark Esper here on 163 00:08:39,760 --> 00:08:44,520 Speaker 1: Bloomberg Sound On. You saw firsthand, Secretary, of what happens 164 00:08:44,600 --> 00:08:49,520 Speaker 1: inside the political military establishment when a president starts talking 165 00:08:49,559 --> 00:08:51,760 Speaker 1: about using nukes. I know we haven't heard a lot 166 00:08:51,800 --> 00:08:54,800 Speaker 1: about that in the last couple of days from Vladimir Putin, 167 00:08:54,800 --> 00:08:57,480 Speaker 1: but he he pulled it out there. Do you think 168 00:08:57,520 --> 00:08:59,520 Speaker 1: the same safeguards are in place in the Kremlin that 169 00:08:59,559 --> 00:09:03,320 Speaker 1: we have year in the United States? Well, we have 170 00:09:03,400 --> 00:09:06,520 Speaker 1: extraordinary safeguards. I would hope that the Russia is as 171 00:09:06,840 --> 00:09:10,040 Speaker 1: as as exceptional as ours. But that said, I know 172 00:09:10,080 --> 00:09:12,839 Speaker 1: Putin has uh said this a few times. I think 173 00:09:12,880 --> 00:09:15,640 Speaker 1: it's very unlikely, but we need to take him seriously 174 00:09:16,200 --> 00:09:18,360 Speaker 1: and we need to be be prepared to react to 175 00:09:18,400 --> 00:09:20,640 Speaker 1: that and send all the right messages behind the scene 176 00:09:21,480 --> 00:09:23,560 Speaker 1: that that that would be the wrong way to go. Again, 177 00:09:23,840 --> 00:09:26,240 Speaker 1: I think it's highly unlikely, but we should take whatever 178 00:09:26,360 --> 00:09:30,800 Speaker 1: precautions make sense without being provocative. Well, this country saw 179 00:09:30,920 --> 00:09:33,800 Speaker 1: an instance uh in which, at least we heard after 180 00:09:33,840 --> 00:09:37,320 Speaker 1: the fact the military establishment was concerned about then President 181 00:09:37,400 --> 00:09:42,280 Speaker 1: Trump's access to nuclear weapons. Is there anyone around Vladimir 182 00:09:42,280 --> 00:09:46,000 Speaker 1: Putin who's at that level. I just can't speak to 183 00:09:46,040 --> 00:09:48,440 Speaker 1: their command and control system. Those are very intricate and 184 00:09:48,520 --> 00:09:53,120 Speaker 1: sometimes classified ways, both mechanically and the chain of command 185 00:09:53,160 --> 00:09:56,680 Speaker 1: by which it happens. Again, I think from my understanding 186 00:09:56,679 --> 00:10:00,120 Speaker 1: in the past, they've had fairly good systems with our 187 00:10:00,240 --> 00:10:02,160 Speaker 1: command and control. But those are the things we need 188 00:10:02,200 --> 00:10:05,200 Speaker 1: to understand and explore. Secretary, the role of NATO has 189 00:10:05,440 --> 00:10:09,320 Speaker 1: has almost been redefined, certainly re established by this war 190 00:10:09,320 --> 00:10:12,559 Speaker 1: in Ukraine. I wonder how important you consider that alliance 191 00:10:12,600 --> 00:10:15,880 Speaker 1: and if you think that former President Trump was actually 192 00:10:16,640 --> 00:10:19,240 Speaker 1: authentic in his threat to pull the US out of 193 00:10:19,280 --> 00:10:24,320 Speaker 1: the alliance, and what impact that had on Vladimir Putin's worldview. Look, 194 00:10:24,320 --> 00:10:27,319 Speaker 1: I think NATO is exceedingly important. It's the it's the 195 00:10:27,320 --> 00:10:30,560 Speaker 1: greatest alliance military alliance in history. I served in NATO 196 00:10:30,640 --> 00:10:33,920 Speaker 1: when I was assigned in Europe in the early nineties 197 00:10:33,960 --> 00:10:37,320 Speaker 1: as an army infantry officers. So it's done. It's done. 198 00:10:37,360 --> 00:10:40,199 Speaker 1: Great things in the past. I think, uh, this is 199 00:10:40,200 --> 00:10:43,640 Speaker 1: an unfortunate way by which to rejuvenate the alliance, but 200 00:10:43,679 --> 00:10:45,880 Speaker 1: it is happening. You know. When I have a Secretary 201 00:10:45,840 --> 00:10:49,680 Speaker 1: of Defense, I pushed to implement implement our national defense strategy, 202 00:10:49,720 --> 00:10:52,720 Speaker 1: which which part of which was strengthening our allies and 203 00:10:52,800 --> 00:10:56,000 Speaker 1: partners and making NATO more ready to deal with what 204 00:10:56,160 --> 00:10:58,880 Speaker 1: I saw. What we saw is the two greatest threat 205 00:10:58,880 --> 00:11:01,600 Speaker 1: space in the United States, which are Russia and China. 206 00:11:01,679 --> 00:11:03,839 Speaker 1: And those two threats remained, by the way, and as 207 00:11:03,840 --> 00:11:06,560 Speaker 1: I said earlier, we only see those two countries Moscow 208 00:11:06,600 --> 00:11:09,440 Speaker 1: and Beijing, the capitals coming together in an in an 209 00:11:09,480 --> 00:11:13,960 Speaker 1: alarming way. The narrative the Secretary is that Vladimir Putin 210 00:11:14,360 --> 00:11:18,199 Speaker 1: has helped to to unite NATO. Has Joe Biden also 211 00:11:18,400 --> 00:11:22,679 Speaker 1: done that? Yes, I think it's fair that both men 212 00:11:22,760 --> 00:11:25,200 Speaker 1: had in one way, shape or format. I said before 213 00:11:25,760 --> 00:11:28,679 Speaker 1: the Russia actually invaded that Putin had already felled because 214 00:11:28,679 --> 00:11:31,880 Speaker 1: he had managed to better unify NATO. He had managed 215 00:11:31,920 --> 00:11:36,520 Speaker 1: to put more more NATO forces on NATO frontline states, 216 00:11:36,559 --> 00:11:39,200 Speaker 1: and he was unifying Ukraine in a way that he 217 00:11:39,240 --> 00:11:41,200 Speaker 1: was pushing them more to the west. So I think 218 00:11:41,200 --> 00:11:43,480 Speaker 1: he's lost on those three counts. The other thing I'd 219 00:11:43,480 --> 00:11:45,400 Speaker 1: add is the big The big change here is not 220 00:11:45,480 --> 00:11:48,760 Speaker 1: the increasing unification of NATO that's important, but also the 221 00:11:48,840 --> 00:11:51,880 Speaker 1: major turnaround that has happened in Berlin in terms of 222 00:11:51,880 --> 00:11:54,679 Speaker 1: how they plan on spending more defense dollars, how they 223 00:11:54,679 --> 00:11:59,160 Speaker 1: seem to be abandoning, and a policy toward Russia based 224 00:11:59,160 --> 00:12:03,280 Speaker 1: solely on econom the engagement. Mark Asper, former sec def 225 00:12:03,400 --> 00:12:06,880 Speaker 1: US Secretary of Defense, many thanks to you. We'd love 226 00:12:06,920 --> 00:12:08,720 Speaker 1: to talk to you again when the book comes out. 227 00:12:09,160 --> 00:12:11,320 Speaker 1: He thinks this goes on for months, will ask the 228 00:12:11,320 --> 00:12:17,839 Speaker 1: panel next. This is Bloomberg. This is Bloomberg, So long 229 00:12:18,280 --> 00:12:24,240 Speaker 1: with Joe Matthew on Bloomberg Radio. If you hear President 230 00:12:24,280 --> 00:12:28,559 Speaker 1: Zelenski has a date with Congress Wednesday morning, nine o'clock, 231 00:12:29,480 --> 00:12:32,600 Speaker 1: we'll address Congress virtually according to a statement from Chuck 232 00:12:32,640 --> 00:12:35,800 Speaker 1: Schumer and Nancy Pelosi came out this morning, and you 233 00:12:35,920 --> 00:12:39,840 Speaker 1: wonder if he asks again for those fighter jets. Let's 234 00:12:39,920 --> 00:12:43,640 Speaker 1: assemble the panel now with Bloomberg Politics contributors Jeanie Chantano 235 00:12:43,760 --> 00:12:46,280 Speaker 1: and Rick Davis, and so much to talk about. Genie, 236 00:12:46,320 --> 00:12:50,360 Speaker 1: I'll start with you where we started with Secretary Esper 237 00:12:50,480 --> 00:12:53,079 Speaker 1: and that's the role that China is playing in all 238 00:12:53,120 --> 00:12:55,840 Speaker 1: of this. It's been this sort of quiet tacit approval 239 00:12:56,360 --> 00:12:59,960 Speaker 1: until today seven hours in a room with Jake Sullivan 240 00:13:00,000 --> 00:13:02,400 Speaker 1: and uh, is this the last time we hear from 241 00:13:02,400 --> 00:13:05,680 Speaker 1: Beijing on this? Where is this relationship going? You know, 242 00:13:05,760 --> 00:13:07,880 Speaker 1: I thought it was a good sign that the meeting 243 00:13:08,000 --> 00:13:10,400 Speaker 1: was held, and I hope that they would continue to talk. 244 00:13:10,440 --> 00:13:14,240 Speaker 1: But listening to Secretary Esper say, um, you know, he 245 00:13:14,320 --> 00:13:17,240 Speaker 1: doesn't see China coming to our side. Um. You know, 246 00:13:17,320 --> 00:13:19,280 Speaker 1: that was one of many things he said that I 247 00:13:19,360 --> 00:13:24,640 Speaker 1: found particularly chilling. Um, you know, to keep them off sides, though, 248 00:13:24,679 --> 00:13:27,440 Speaker 1: how about just stay neutral? Well stay neutral? Or the 249 00:13:27,480 --> 00:13:29,280 Speaker 1: way I I sort of would play it out as 250 00:13:29,320 --> 00:13:31,400 Speaker 1: they'll try to play both sides against the middle. They 251 00:13:31,400 --> 00:13:33,680 Speaker 1: won't want to move away from the West totally because 252 00:13:33,679 --> 00:13:37,360 Speaker 1: of their economic relationships, but they also certainly, you know, 253 00:13:37,520 --> 00:13:40,760 Speaker 1: the these two leaders themselves are very close and they've 254 00:13:40,800 --> 00:13:42,760 Speaker 1: signed this agreement, so I don't think they're going to 255 00:13:42,840 --> 00:13:45,360 Speaker 1: necessarily move away from Russian in any concerted way. So 256 00:13:45,720 --> 00:13:48,080 Speaker 1: I thought they'd play both sides against the middle. I 257 00:13:48,120 --> 00:13:50,959 Speaker 1: think that's what we might see. But you know, I 258 00:13:51,400 --> 00:13:54,000 Speaker 1: hope the talks continue, but you know, we didn't get 259 00:13:54,000 --> 00:13:57,079 Speaker 1: any assurances out of this meeting. For for sure, Rick, 260 00:13:57,120 --> 00:14:01,280 Speaker 1: what gets accomplished in seven hours to of the number 261 00:14:01,320 --> 00:14:04,000 Speaker 1: of various angles they could have dealt with here? Are 262 00:14:04,000 --> 00:14:08,200 Speaker 1: you encouraged by that? Uh? You know, look, I'm not 263 00:14:08,320 --> 00:14:11,120 Speaker 1: encouraged by anything that China has done, you know since 264 00:14:11,160 --> 00:14:16,320 Speaker 1: before the Olympics, including hosting Vladimir Putin is his one 265 00:14:16,440 --> 00:14:20,640 Speaker 1: big official guest in the world, uh, knowing that he 266 00:14:20,680 --> 00:14:24,000 Speaker 1: had planned an invasion of a peaceful nation while he 267 00:14:24,040 --> 00:14:26,960 Speaker 1: sat there grinning at the Olympics. So, I mean, this 268 00:14:27,120 --> 00:14:30,280 Speaker 1: just shows incredibly bad behavior for a country that wants 269 00:14:30,280 --> 00:14:34,360 Speaker 1: to be taken seriously beyond its borders. And so I think, 270 00:14:34,520 --> 00:14:37,840 Speaker 1: you know, my hope is that Jake Sullivan uh addressed 271 00:14:37,880 --> 00:14:39,960 Speaker 1: that and told him that, uh, there are a lot 272 00:14:39,960 --> 00:14:42,600 Speaker 1: of things that the Chinese want to be able to 273 00:14:42,600 --> 00:14:46,440 Speaker 1: do around the world. Uh. Their economy is completely predicated 274 00:14:46,480 --> 00:14:50,360 Speaker 1: on trade and uh. And if they continue to support 275 00:14:50,400 --> 00:14:54,600 Speaker 1: the Russians in any way economically or militarily, including shipping 276 00:14:54,600 --> 00:14:58,680 Speaker 1: weapons to Russia, Uh, then um, then I think there's 277 00:14:58,680 --> 00:15:02,600 Speaker 1: a likelihood that the dreaded secondary sanctions may come into play. 278 00:15:02,760 --> 00:15:06,880 Speaker 1: You know, sanctioning those countries that that that participate UH 279 00:15:06,880 --> 00:15:10,560 Speaker 1: in UH programs that would aid Russia, and that could 280 00:15:10,560 --> 00:15:14,920 Speaker 1: be incredibly detrimental to a fragile Chinese economy. Well, that 281 00:15:14,960 --> 00:15:19,360 Speaker 1: would be that that's not something that China obviously wants. Here, Jeannie, 282 00:15:19,360 --> 00:15:23,920 Speaker 1: we're going to really test China's reliance on the West economically. Right, 283 00:15:23,960 --> 00:15:27,600 Speaker 1: if all of these countries stopped doing business with Beijing, Uh, 284 00:15:27,640 --> 00:15:30,480 Speaker 1: there's a big problem in China. Yeah, I mean, you 285 00:15:30,520 --> 00:15:33,080 Speaker 1: can't imagine at this point that that's what China wants 286 00:15:33,160 --> 00:15:35,480 Speaker 1: or where it is headed. You know, I don't know 287 00:15:35,520 --> 00:15:38,360 Speaker 1: how many Americans pay attention in the last few years. 288 00:15:38,400 --> 00:15:41,760 Speaker 1: But let's not forget how close these two are. You know, 289 00:15:42,040 --> 00:15:44,920 Speaker 1: jij and Ping famously described Vladimir Putin as his best 290 00:15:45,040 --> 00:15:47,640 Speaker 1: friend when they met. He said, in six years, they've 291 00:15:47,640 --> 00:15:51,000 Speaker 1: met thirty times, so this is a deep relationship. But 292 00:15:51,160 --> 00:15:54,480 Speaker 1: that said, the fact that I hear you chuckling, Joe Matthew, 293 00:15:55,000 --> 00:15:57,280 Speaker 1: just you know, Vladimir is a best friend. I just 294 00:15:57,320 --> 00:15:59,840 Speaker 1: wonder how he thinks. It's a pretty tough one, right, 295 00:16:00,200 --> 00:16:02,880 Speaker 1: But but you know that said, it's a bad sign 296 00:16:02,920 --> 00:16:05,440 Speaker 1: that Russia is turning to China for help at this point. 297 00:16:05,480 --> 00:16:07,920 Speaker 1: It shows how badly this has gone for them if 298 00:16:07,920 --> 00:16:10,720 Speaker 1: that's indeed the case, And to your point, this would 299 00:16:10,760 --> 00:16:13,360 Speaker 1: be devastating for China's economy. And let's not forget They're 300 00:16:13,400 --> 00:16:16,000 Speaker 1: also dealing with a COVID surge at this point, closing 301 00:16:16,000 --> 00:16:18,400 Speaker 1: down a major city as well today, So you know 302 00:16:18,480 --> 00:16:21,280 Speaker 1: they have a lot that at risk. And again I 303 00:16:21,320 --> 00:16:24,240 Speaker 1: don't see them risking it for Putin or Russia in 304 00:16:24,280 --> 00:16:26,920 Speaker 1: any concerted way that would make the West turn away 305 00:16:26,960 --> 00:16:28,880 Speaker 1: from them or sanctioned them, as Rick was talking about 306 00:16:28,920 --> 00:16:32,720 Speaker 1: these secondary sanctions. But again, this is a deep, deep 307 00:16:32,840 --> 00:16:35,400 Speaker 1: relationship and there may be a point where they need 308 00:16:35,400 --> 00:16:39,280 Speaker 1: to take sides. Rick, how far does Vladimir Putin push 309 00:16:39,320 --> 00:16:42,800 Speaker 1: it towards the Polish border fifteen miles As we just 310 00:16:42,800 --> 00:16:45,840 Speaker 1: discussed with Mark Esper, He's been there before. This is 311 00:16:45,840 --> 00:16:48,960 Speaker 1: not some far flung location. Uh, you get a little 312 00:16:48,960 --> 00:16:50,840 Speaker 1: closer each time. I know we've said you have to 313 00:16:50,880 --> 00:16:53,520 Speaker 1: cross the border. But at what point does this become 314 00:16:53,560 --> 00:16:58,440 Speaker 1: a real worry for NATO as a military problem. Well, 315 00:16:58,480 --> 00:17:01,520 Speaker 1: I think we should not delude ourselves. Vladimir Putin wants 316 00:17:01,560 --> 00:17:04,320 Speaker 1: Russian soldiers on the border of Poland, on the border 317 00:17:04,359 --> 00:17:07,800 Speaker 1: of Poland, not within five miles, not like you know, 318 00:17:07,840 --> 00:17:10,919 Speaker 1: you can see him through binoculars. He wants his guys 319 00:17:11,000 --> 00:17:13,800 Speaker 1: on the border. You can't come into Ukraine unless you 320 00:17:13,840 --> 00:17:17,160 Speaker 1: pass a Russian checkpoint. I mean, this guy is playing 321 00:17:17,160 --> 00:17:20,240 Speaker 1: for keeps. You know. This is not like what he says, 322 00:17:20,320 --> 00:17:23,200 Speaker 1: which is some kind of liberation from you know, Nazis 323 00:17:23,240 --> 00:17:25,480 Speaker 1: in the Ukraine. This is I want to own Ukraine. 324 00:17:25,760 --> 00:17:27,760 Speaker 1: I want to run Ukraine. I want to make Ukraine 325 00:17:27,760 --> 00:17:30,080 Speaker 1: a vassel state, and I want to be butt up 326 00:17:30,080 --> 00:17:34,160 Speaker 1: against NATO countries because that's where he thinks the next 327 00:17:34,160 --> 00:17:36,080 Speaker 1: front is gonna come. Do we let that happen or 328 00:17:36,080 --> 00:17:37,639 Speaker 1: do we have to establish some kind of a d 329 00:17:37,800 --> 00:17:41,840 Speaker 1: m Z in Poland. I think that. I think the 330 00:17:42,040 --> 00:17:45,240 Speaker 1: d m Z is the free country of Ukraine. I mean, 331 00:17:46,160 --> 00:17:49,800 Speaker 1: the reality is we can never settle for anything less 332 00:17:49,840 --> 00:17:54,240 Speaker 1: than status quo anti, which is Russians get out of Ukraine. 333 00:17:54,280 --> 00:17:57,639 Speaker 1: They were, they return all the the ill gotten gains 334 00:17:57,680 --> 00:18:01,080 Speaker 1: that they've had from him, They they pay reparations to 335 00:18:01,119 --> 00:18:04,000 Speaker 1: rebuild the country and and they get out. And we 336 00:18:04,040 --> 00:18:07,919 Speaker 1: have to put enough pressure on on Putin's administration and 337 00:18:07,960 --> 00:18:10,600 Speaker 1: they're no, not nowhere near enough of that pressure on 338 00:18:10,640 --> 00:18:13,879 Speaker 1: today to accomplish that. There's been questions about supply lines, Genie. 339 00:18:13,880 --> 00:18:15,920 Speaker 1: Not just if we give them the MiGs, but we're 340 00:18:15,920 --> 00:18:18,560 Speaker 1: putting a whole bunch of material into Ukraine all the time, 341 00:18:19,080 --> 00:18:20,840 Speaker 1: and it was thought that this may have been trying 342 00:18:20,840 --> 00:18:24,320 Speaker 1: to target uh that area. The military said, that's not it. 343 00:18:24,800 --> 00:18:26,600 Speaker 1: But where do you draw the line if we're handing 344 00:18:26,640 --> 00:18:28,800 Speaker 1: things over the border, Genie and they and they're blowing 345 00:18:28,840 --> 00:18:31,119 Speaker 1: up supply lines right on the other side of the border. 346 00:18:31,720 --> 00:18:35,720 Speaker 1: Do we stay uninvolved like we are now? It is 347 00:18:35,760 --> 00:18:39,120 Speaker 1: increasingly hard for NATO the United States to stay in advaulting. 348 00:18:39,160 --> 00:18:42,080 Speaker 1: It's going to be especially hard on Wednesday morning, when, 349 00:18:42,320 --> 00:18:45,400 Speaker 1: when you know Zelinsky speaks directly to Congress. I think 350 00:18:45,400 --> 00:18:47,760 Speaker 1: that becomes all that much harder for this administration. It's 351 00:18:47,760 --> 00:18:50,359 Speaker 1: going to be a fascinating speech, and of course we'll 352 00:18:50,359 --> 00:18:53,200 Speaker 1: have ears on it here on Bloomberg on Joe, Matthew 353 00:18:53,240 --> 00:18:55,840 Speaker 1: and Washington. We stick with the panel, Rick and Genie 354 00:18:55,880 --> 00:18:58,600 Speaker 1: for the hour, and next we compare notes with Sarah Binder. 355 00:18:59,280 --> 00:19:01,960 Speaker 1: On this day, the Fed has a big question mark 356 00:19:02,000 --> 00:19:08,600 Speaker 1: over it will tell you why. This is Bloomberg broadcasting 357 00:19:08,680 --> 00:19:14,000 Speaker 1: live from our nation's capital. Bloomberg to New York, Bloomberg eleven, 358 00:19:14,119 --> 00:19:18,360 Speaker 1: Frio to San Francisco, Bloomberg nine six to the country, 359 00:19:18,560 --> 00:19:22,919 Speaker 1: Sirius XM Channel one, and around the globe the Bloomberg 360 00:19:22,960 --> 00:19:27,520 Speaker 1: Business app and Bloomberg Radio dot Com. This is Bloomberg's 361 00:19:27,520 --> 00:19:33,480 Speaker 1: sound on. But the Progressive Caucus must be saying about 362 00:19:33,640 --> 00:19:38,040 Speaker 1: Joe Manchin. Today the Senator from West Virginia does it again, 363 00:19:38,080 --> 00:19:40,640 Speaker 1: crossing his own party, this time saying he will vote 364 00:19:40,640 --> 00:19:45,080 Speaker 1: against the nomination of Sarah Bloom Raskin. Indeed, the big 365 00:19:45,160 --> 00:19:48,199 Speaker 1: breaker today, the big headline inside the Beltway was not 366 00:19:48,440 --> 00:19:51,920 Speaker 1: about the war. Arguably it was about the Fed. We'll 367 00:19:51,960 --> 00:19:55,280 Speaker 1: talk about that next with Sarah Binder of the Brookings Institution. 368 00:19:55,920 --> 00:19:58,160 Speaker 1: Quite a headline on the terminal. Who would have fought 369 00:19:58,160 --> 00:20:01,240 Speaker 1: this a couple of weeks ago. Raskin's f nomination likely 370 00:20:01,400 --> 00:20:08,080 Speaker 1: doomed by Mansion opposition. But Joe Manchin, Oh, the Democrats 371 00:20:08,119 --> 00:20:13,000 Speaker 1: one after build back better not today, as the Democratic 372 00:20:13,080 --> 00:20:16,439 Speaker 1: senator says he will not back Joe Biden's nominee for 373 00:20:16,480 --> 00:20:21,360 Speaker 1: the Federal Reserve Vice Chair of Supervision, Stephen Dennis Writing, 374 00:20:21,640 --> 00:20:27,119 Speaker 1: likely dooms her confirmation in the Senate given broad Republican opposition, 375 00:20:27,160 --> 00:20:29,960 Speaker 1: and that starts with the ranking member who happened to 376 00:20:30,000 --> 00:20:35,480 Speaker 1: be on the air here on Bloomberg when the news broke. 377 00:20:36,280 --> 00:20:40,359 Speaker 1: Pat Toomey, Senator Pat Toomey, ranking member the Banking Committee. 378 00:20:40,400 --> 00:20:44,480 Speaker 1: You will hear David Weston, this is on Balance of 379 00:20:44,520 --> 00:20:47,840 Speaker 1: Power asking him the money question. Here's Senator to me, 380 00:20:48,160 --> 00:20:51,000 Speaker 1: does this spell the end of the nomination? I think 381 00:20:51,040 --> 00:20:54,000 Speaker 1: it probably does. As a practical matter, Um, I'm not 382 00:20:54,040 --> 00:20:57,800 Speaker 1: aware of any Republican support for ums Raskin. I have 383 00:20:57,880 --> 00:21:01,080 Speaker 1: not spoken with every last Republican colleague, not speaking for anybody, 384 00:21:01,080 --> 00:21:04,200 Speaker 1: but I'm just not aware of it. And so much 385 00:21:04,280 --> 00:21:06,840 Speaker 1: for a bipartisan approach, although that's what the White House 386 00:21:06,880 --> 00:21:08,960 Speaker 1: is saying. Jen Psaki was asked about it against today 387 00:21:08,960 --> 00:21:11,600 Speaker 1: in the briefing. The White House kicked out a statement 388 00:21:11,680 --> 00:21:15,439 Speaker 1: suggesting that they are unmoved by this development. Fine, Senator, 389 00:21:15,480 --> 00:21:19,040 Speaker 1: I managine we will seek a Republican to vote yes, 390 00:21:19,760 --> 00:21:22,920 Speaker 1: but in a fifty Senate and after everything we've heard. 391 00:21:23,280 --> 00:21:27,439 Speaker 1: Pat Toomey has been consistent in speaking about this. He 392 00:21:27,560 --> 00:21:32,040 Speaker 1: described today once again to David Weston on Balance of Power, 393 00:21:32,680 --> 00:21:35,800 Speaker 1: his problem with Sarah bloom Raskin here he is on Bloomer. 394 00:21:36,400 --> 00:21:38,960 Speaker 1: This is a radical change in the mission of the FAN. 395 00:21:39,240 --> 00:21:42,200 Speaker 1: I mean, there's an important debate to have about how 396 00:21:42,280 --> 00:21:46,040 Speaker 1: quickly we transition to a lower carbon economy. But those 397 00:21:46,080 --> 00:21:48,840 Speaker 1: decisions need to be made in the most transparent and 398 00:21:48,920 --> 00:21:51,760 Speaker 1: open process by people who are accountable to the American people, 399 00:21:51,760 --> 00:21:57,639 Speaker 1: because they have costs. Yeah, explaining his opposition over prior 400 00:21:57,720 --> 00:22:01,000 Speaker 1: statements from Sarah Bloom Raskin. You heard this all come 401 00:22:01,000 --> 00:22:05,080 Speaker 1: out in the confirmation hearing about her views on fossil 402 00:22:05,160 --> 00:22:09,760 Speaker 1: fuels and how at least some time ago believed that 403 00:22:09,840 --> 00:22:12,880 Speaker 1: they might have limited access to banking, for instance, as 404 00:22:12,880 --> 00:22:15,359 Speaker 1: we try to transition to renewable energy. I want to 405 00:22:15,359 --> 00:22:18,399 Speaker 1: bring it back here if we can go back to 406 00:22:18,560 --> 00:22:21,840 Speaker 1: February and that confirmation hearing, let's just bring you into 407 00:22:21,880 --> 00:22:25,240 Speaker 1: the room. This is Senator Pat too me with Sarah 408 00:22:25,240 --> 00:22:28,520 Speaker 1: Bloom Raskin herself. Are you saying you no longer hold 409 00:22:28,560 --> 00:22:32,239 Speaker 1: these views that that you've stated about allocating capital as 410 00:22:32,280 --> 00:22:35,960 Speaker 1: a result of your perception of this risk. My views 411 00:22:36,040 --> 00:22:39,320 Speaker 1: have have been consistent, Senator Um. The FED should not 412 00:22:39,440 --> 00:22:43,440 Speaker 1: pick winners and losers. They should not be exposing taxpayers 413 00:22:43,480 --> 00:22:47,320 Speaker 1: to undo risk. Okay that that I'm sorry that there 414 00:22:47,400 --> 00:22:54,159 Speaker 1: is no reasonable reading of these articles and speeches that 415 00:22:54,240 --> 00:22:57,680 Speaker 1: can come to a conclusion other than that you want 416 00:22:57,720 --> 00:23:01,600 Speaker 1: to be allocating capital away from those industries that are 417 00:23:01,640 --> 00:23:06,840 Speaker 1: generating large amounts of c O two. Yeah. Well he 418 00:23:07,000 --> 00:23:12,120 Speaker 1: was never convinced. Sarah Bloom Raskin went on to try 419 00:23:12,160 --> 00:23:16,080 Speaker 1: to answer more questions. None of the answers seemed to resonate. 420 00:23:16,160 --> 00:23:18,800 Speaker 1: So here we are statement from the White House. I'm 421 00:23:18,840 --> 00:23:20,679 Speaker 1: jumping all the way to the last line after they 422 00:23:20,680 --> 00:23:23,000 Speaker 1: talk about how well qualified she is, quote, we are 423 00:23:23,040 --> 00:23:27,040 Speaker 1: working to line up the bipartisan support that she deserves 424 00:23:27,080 --> 00:23:29,439 Speaker 1: so that she can be confirmed by the Senate for 425 00:23:29,520 --> 00:23:33,159 Speaker 1: this important position. Nothing to see here. Move right along 426 00:23:33,960 --> 00:23:37,479 Speaker 1: as we introduce Sarah Binder, Senior Fellow and Government Studies 427 00:23:37,520 --> 00:23:41,800 Speaker 1: at the Brookings Institution, policy professor at George Washington University, 428 00:23:41,840 --> 00:23:45,160 Speaker 1: and author of the Myth of Independence, How Congress Governs 429 00:23:45,160 --> 00:23:49,080 Speaker 1: the Federal Reserve. Sarah, thank you for being here, Sure, 430 00:23:49,200 --> 00:23:53,560 Speaker 1: thanks for having me. Is this as good as over? Well? 431 00:23:53,640 --> 00:23:55,520 Speaker 1: That seems to be the writing on the wall here. 432 00:23:55,680 --> 00:23:59,840 Speaker 1: There's not been a Republican willing to come out in 433 00:24:00,040 --> 00:24:03,919 Speaker 1: say that they would support Bloom Raskin. So, uh, it 434 00:24:04,040 --> 00:24:07,679 Speaker 1: seems that this candidacy for the fed's vice chair a 435 00:24:07,720 --> 00:24:10,960 Speaker 1: supervision probably is not going to happen. So the other 436 00:24:11,040 --> 00:24:14,800 Speaker 1: four gets split off. Maybe there's another vote. But I wonder, Sarah, 437 00:24:14,840 --> 00:24:16,679 Speaker 1: when you hear this, and you know you've seen this 438 00:24:16,720 --> 00:24:20,920 Speaker 1: movie before, not necessarily with the FED, but with other nominees, 439 00:24:21,560 --> 00:24:24,040 Speaker 1: when you start getting into the grinder on Capitol Hill, 440 00:24:24,160 --> 00:24:27,000 Speaker 1: is it up to Sarah Bloom Raskin to withdraw? The 441 00:24:27,040 --> 00:24:29,720 Speaker 1: White House doesn't want to turn around and cave on this. 442 00:24:29,800 --> 00:24:31,960 Speaker 1: Is it up to the nominee? Well, I think that's 443 00:24:32,000 --> 00:24:35,800 Speaker 1: often what happens, is the nominee, who themselves often don't 444 00:24:35,840 --> 00:24:39,760 Speaker 1: want to cove through the process. We'll want to withdraw. 445 00:24:40,119 --> 00:24:42,760 Speaker 1: We don't know exactly what will happen here, but I 446 00:24:42,760 --> 00:24:45,479 Speaker 1: would not surprise me to see that outcome. And then 447 00:24:45,520 --> 00:24:48,560 Speaker 1: you get four nominees, do the rest, all pass and 448 00:24:48,640 --> 00:24:52,160 Speaker 1: all are confirmed. That seems to be what's happening here. 449 00:24:52,240 --> 00:24:55,520 Speaker 1: Mansion even last week said let's uh not go ahead 450 00:24:55,560 --> 00:24:57,600 Speaker 1: on Raskin, and you know, go ahead with the other four. 451 00:24:57,760 --> 00:25:00,520 Speaker 1: So it looks like they will easily be fifty Democratic 452 00:25:00,600 --> 00:25:03,320 Speaker 1: votes to confirm the other four. There's a party line 453 00:25:03,320 --> 00:25:05,119 Speaker 1: on Sarah Bloom Raskin. We heard it a couple of 454 00:25:05,119 --> 00:25:07,840 Speaker 1: times there from Pat Toomey. We we essentially heard it 455 00:25:07,880 --> 00:25:10,720 Speaker 1: from Joe Manson, even though he's in another party. The 456 00:25:10,760 --> 00:25:14,520 Speaker 1: White House says she's answered every question. Is this fair 457 00:25:14,560 --> 00:25:18,840 Speaker 1: the way this is being dispatched by Republicans? Well, Republicans 458 00:25:18,920 --> 00:25:23,159 Speaker 1: did play hardball here. They boycotted the committee vote. Uh 459 00:25:23,359 --> 00:25:28,280 Speaker 1: and in the committee evenly balanced that would break the 460 00:25:28,359 --> 00:25:31,160 Speaker 1: rules if Democrats went ahead. So there was hard ball. 461 00:25:31,320 --> 00:25:34,040 Speaker 1: For sure. They could have just shown up and voted 462 00:25:34,040 --> 00:25:37,680 Speaker 1: against her, but they but they didn't do that job 463 00:25:37,800 --> 00:25:42,720 Speaker 1: right now, right well have stopped that from happen for sure, 464 00:25:42,880 --> 00:25:45,920 Speaker 1: that would have likely would have happened before we're at 465 00:25:45,960 --> 00:25:49,679 Speaker 1: a confirmation vote on the floor. So, I mean, the 466 00:25:49,760 --> 00:25:54,000 Speaker 1: issue here I think we're generally is she was accused 467 00:25:54,040 --> 00:25:56,240 Speaker 1: by Republicans really sort of that she would be a 468 00:25:56,320 --> 00:25:59,000 Speaker 1: rogue regulator, even though she has a career of public 469 00:25:59,040 --> 00:26:02,520 Speaker 1: service behind right, even as high as the Deputy treasure 470 00:26:03,000 --> 00:26:05,240 Speaker 1: including on the Federal Reserve, which is one of the 471 00:26:05,280 --> 00:26:10,679 Speaker 1: real ironies here. Absolutely, So, Okay, minute left here, Sarah, 472 00:26:10,720 --> 00:26:12,840 Speaker 1: We've got a FED meeting this week, the White House 473 00:26:12,920 --> 00:26:15,280 Speaker 1: is telling us that the FED is essentially working with 474 00:26:15,320 --> 00:26:17,600 Speaker 1: one hand tied behind its back in the fight of 475 00:26:17,640 --> 00:26:21,520 Speaker 1: our lives against inflation. Are they right? Well, the Fed, 476 00:26:21,600 --> 00:26:24,040 Speaker 1: I think many believe it's behind the eight ball. Uh, 477 00:26:24,040 --> 00:26:26,520 Speaker 1: and it has, as it said, it's got to start tightening. 478 00:26:27,280 --> 00:26:31,240 Speaker 1: But it's not so easy given supply shocks, demand uh 479 00:26:31,320 --> 00:26:35,080 Speaker 1: from from Americans. Um, it'll be hard. Uh. They want 480 00:26:35,080 --> 00:26:38,120 Speaker 1: to avoid a recession, but also they have to kind 481 00:26:38,160 --> 00:26:41,640 Speaker 1: of prepare us, I think, for potentially higher levels of inflation, 482 00:26:42,000 --> 00:26:44,320 Speaker 1: um than we've been used to. How long do you 483 00:26:44,359 --> 00:26:48,840 Speaker 1: think until the nominees are confirmed in all of these 484 00:26:48,840 --> 00:26:51,840 Speaker 1: seats are filled, we'll say the four. Obviously the President 485 00:26:51,880 --> 00:26:53,600 Speaker 1: may need to come up with another. But to get 486 00:26:53,640 --> 00:26:56,680 Speaker 1: these four in place, are we weeks away? Oh? I 487 00:26:56,760 --> 00:27:00,240 Speaker 1: think we're easily weeks U in the average of eight 488 00:27:00,280 --> 00:27:02,600 Speaker 1: has been several months for these nominees, and they're already 489 00:27:02,600 --> 00:27:05,520 Speaker 1: two months in, so I'd say a couple of months, uh, 490 00:27:05,640 --> 00:27:08,439 Speaker 1: possibly earlier, but they have to find time on that 491 00:27:08,480 --> 00:27:11,359 Speaker 1: fine flour for them. Sarah Binder, thank you for your 492 00:27:11,440 --> 00:27:17,680 Speaker 1: view on Sound On, This is Bloomberg. This is Bloomberg. 493 00:27:17,840 --> 00:27:23,879 Speaker 1: Sound On with Joe Matthew on Bloomberg Radio. So the 494 00:27:23,960 --> 00:27:28,520 Speaker 1: convoy strikes again, the people's convoys. If you're stuck in 495 00:27:28,560 --> 00:27:32,480 Speaker 1: the mess in Washington, d C. I saw it, and 496 00:27:32,560 --> 00:27:34,560 Speaker 1: I salute you. We'll talk more about it in a 497 00:27:34,600 --> 00:27:37,639 Speaker 1: moment as we reassemble the panel here on Bloomberg Sound 498 00:27:37,720 --> 00:27:42,320 Speaker 1: On with Bloomberg Politics contributors Genie Chanzano and Rick Davis. 499 00:27:42,880 --> 00:27:45,080 Speaker 1: Rick Joe Manchin says he's a no vote on Sarah 500 00:27:45,119 --> 00:27:48,680 Speaker 1: Bloom Raskin for the Federal Reserve Vice Chair of Supervision. 501 00:27:48,680 --> 00:27:51,600 Speaker 1: We were just discussing this. Does the White House stand 502 00:27:51,640 --> 00:27:53,960 Speaker 1: a chance of getting a Republican vote? What do you 503 00:27:54,000 --> 00:27:57,200 Speaker 1: make of that statement? No, they don't. They don't stand 504 00:27:57,200 --> 00:28:01,440 Speaker 1: a chance. I think Uh Senator to me was absolutely 505 00:28:01,480 --> 00:28:05,040 Speaker 1: spot on. Gee, if he's unaware, as ranking member the 506 00:28:05,080 --> 00:28:08,280 Speaker 1: Judiciary of any Republicans willing to support him, I doubt 507 00:28:08,280 --> 00:28:11,840 Speaker 1: if the White House is gonna find one. And so look, 508 00:28:11,880 --> 00:28:13,840 Speaker 1: I mean they got to say this kind of stuff 509 00:28:13,880 --> 00:28:16,880 Speaker 1: because they're trying to be polite to a nominee. Nice 510 00:28:16,880 --> 00:28:19,600 Speaker 1: of her to be willing to serve. She's got to 511 00:28:19,640 --> 00:28:23,560 Speaker 1: pull the plug. This this this Democratic Party drags itself 512 00:28:23,600 --> 00:28:27,560 Speaker 1: through more mud than Republicans could ever do. And this 513 00:28:27,640 --> 00:28:32,520 Speaker 1: is just another self inflicted wound that needs I thought 514 00:28:32,560 --> 00:28:35,280 Speaker 1: these were all going to sail through after the bitter 515 00:28:35,320 --> 00:28:38,920 Speaker 1: divide on Build Back Better? Well, I think I think 516 00:28:38,960 --> 00:28:40,320 Speaker 1: if I were in the White House, I'd be calling 517 00:28:40,320 --> 00:28:43,400 Speaker 1: my legend. Ferris Guy said, did anyone bother asking Mansion 518 00:28:43,440 --> 00:28:46,280 Speaker 1: about this six months ago? I mean, like, why did 519 00:28:46,320 --> 00:28:48,080 Speaker 1: we go this far if we weren't going to get 520 00:28:48,080 --> 00:28:50,000 Speaker 1: his vote? And this was never going to be a 521 00:28:50,080 --> 00:28:52,600 Speaker 1: vote he was gonna cast. So this is a story 522 00:28:52,640 --> 00:28:55,800 Speaker 1: about being caught by surprise by someone in your own 523 00:28:55,800 --> 00:28:59,120 Speaker 1: house here essentially, Genie, I mean, my goodness, Uh, do 524 00:28:59,240 --> 00:29:01,480 Speaker 1: they need to bring Joe Mansion and have him right 525 00:29:01,600 --> 00:29:05,680 Speaker 1: the next version of Build Back Better and select the 526 00:29:05,720 --> 00:29:11,120 Speaker 1: replacement nominee? Well, they definitely need. That is kind of 527 00:29:11,160 --> 00:29:14,240 Speaker 1: where we are, the power of the Joe's Joe Matthew. Um. 528 00:29:14,600 --> 00:29:19,920 Speaker 1: But you know, but you know, I also think, and uh, 529 00:29:20,000 --> 00:29:22,840 Speaker 1: you know, not to be conspiratorial, but I also think 530 00:29:23,000 --> 00:29:24,920 Speaker 1: that this may not have been as much of a 531 00:29:24,960 --> 00:29:29,880 Speaker 1: surprise to particularly the President as we may think. Um. 532 00:29:29,920 --> 00:29:33,640 Speaker 1: Now he'll never say that publicly, but you know, Rick 533 00:29:33,760 --> 00:29:36,480 Speaker 1: is right. I mean, if nobody bothered to ask Joe 534 00:29:36,480 --> 00:29:38,480 Speaker 1: Manchin and this just came up out of the blue 535 00:29:38,520 --> 00:29:40,840 Speaker 1: that you know, shame on them, But I have a 536 00:29:40,880 --> 00:29:44,520 Speaker 1: feeling that this also serves Joe Biden's interests. At this point, 537 00:29:44,800 --> 00:29:48,960 Speaker 1: they need these nominees confirmed, at least the four. Uh 538 00:29:49,000 --> 00:29:53,080 Speaker 1: Sarah Bloom Raskin. She is a wonderful nominee, as they said, 539 00:29:53,120 --> 00:29:56,000 Speaker 1: but she has always been something of a gift to 540 00:29:56,040 --> 00:29:59,160 Speaker 1: the progressives. She has always been a tough sell to 541 00:29:59,200 --> 00:30:01,640 Speaker 1: the moderates and rip and the conservatives. This way, he 542 00:30:01,680 --> 00:30:03,720 Speaker 1: doesn't have the cave and look like he's given up 543 00:30:03,720 --> 00:30:06,280 Speaker 1: on her absolutely, And I think that's why what we 544 00:30:06,320 --> 00:30:09,360 Speaker 1: will eventually see is she will withdraw her nomination. The 545 00:30:09,440 --> 00:30:11,239 Speaker 1: last thing the White House wants to do is pull it. 546 00:30:11,280 --> 00:30:13,200 Speaker 1: I wasn't surprised they said, we're not going to pull it. 547 00:30:13,440 --> 00:30:16,200 Speaker 1: I think she withdraws her nomination. They pushed the other 548 00:30:16,280 --> 00:30:19,640 Speaker 1: four through and then they find somebody else. Um, you 549 00:30:19,680 --> 00:30:23,800 Speaker 1: know that that's really where we're at it this point. 550 00:30:23,840 --> 00:30:25,680 Speaker 1: And I don't think anybody can be surprised in a 551 00:30:26,400 --> 00:30:30,160 Speaker 1: Senate somebody who has the record she has has made 552 00:30:30,160 --> 00:30:32,280 Speaker 1: the public statement, she has has a tough sell for 553 00:30:32,320 --> 00:30:36,040 Speaker 1: Republicans and moderate Democrats. Is there another shortlist? Rick, who 554 00:30:36,040 --> 00:30:44,360 Speaker 1: do they pick after this we lose? Rick points out, 555 00:30:44,400 --> 00:30:47,720 Speaker 1: doesn't have you know, the rep that that that that 556 00:30:47,880 --> 00:30:50,040 Speaker 1: she did, so, um, they just need to move on. 557 00:30:50,200 --> 00:30:53,400 Speaker 1: This is this is a real problem. They keep, you know, 558 00:30:53,480 --> 00:30:56,000 Speaker 1: messing with this narrative. The poor Fed's got a hard 559 00:30:56,080 --> 00:30:58,680 Speaker 1: job to do, and now it's embroiled in this. They 560 00:30:58,680 --> 00:31:01,760 Speaker 1: don't need that. They need to focus on inflation, inflation, 561 00:31:01,800 --> 00:31:04,120 Speaker 1: inflation and fixing that problem because if they don't fix 562 00:31:04,160 --> 00:31:07,000 Speaker 1: that problem, it doesn't really matter who they put up, 563 00:31:07,040 --> 00:31:10,000 Speaker 1: because you know, nobody's gonna get confirmed in the next 564 00:31:10,000 --> 00:31:13,800 Speaker 1: two years of Republicans take control of the Senate. We 565 00:31:13,840 --> 00:31:15,239 Speaker 1: missed a little bit of that, Rick, if you can 566 00:31:15,280 --> 00:31:17,960 Speaker 1: back up, So is there a short list right now? 567 00:31:18,160 --> 00:31:20,360 Speaker 1: Or or where what's the point? Where was the point 568 00:31:20,360 --> 00:31:23,960 Speaker 1: you were going to? The point I was making is 569 00:31:23,960 --> 00:31:26,360 Speaker 1: it really doesn't even matter if there's a short list, 570 00:31:26,560 --> 00:31:30,000 Speaker 1: because if they if they if they don't start working 571 00:31:30,000 --> 00:31:32,360 Speaker 1: on this inflation issue. You know, with the team that 572 00:31:32,400 --> 00:31:35,000 Speaker 1: they've got, uh, they're not gonna win the mid terms 573 00:31:35,280 --> 00:31:38,600 Speaker 1: and and as a result there they're not gonna get 574 00:31:38,640 --> 00:31:42,640 Speaker 1: anybody confirmed. Well, Genie, at some point they're gonna have 575 00:31:42,680 --> 00:31:45,000 Speaker 1: to start floating balloons, right, Do they in fact sit 576 00:31:45,040 --> 00:31:46,760 Speaker 1: down with Joe Manchion? Who do they want to talk 577 00:31:46,800 --> 00:31:49,040 Speaker 1: to here? Who does the president need to talk to 578 00:31:49,040 --> 00:31:50,840 Speaker 1: to make sure that this is a good idea when 579 00:31:50,880 --> 00:31:54,560 Speaker 1: the sequel comes around? To talk to Joe man McMansion. 580 00:31:54,680 --> 00:31:56,920 Speaker 1: You know, when these nominees were made, there were other 581 00:31:56,960 --> 00:31:59,120 Speaker 1: people on the short list. I suspect they go back 582 00:31:59,160 --> 00:32:02,040 Speaker 1: to that list. There were people like William Spriggs from 583 00:32:02,080 --> 00:32:05,080 Speaker 1: the A f l C. I oh if I got 584 00:32:05,120 --> 00:32:08,320 Speaker 1: that correct. Um. There was Raphael Bostick, he was on 585 00:32:08,360 --> 00:32:11,560 Speaker 1: the list, Roger Ferguson, Seth Carpenter, there was a there 586 00:32:11,600 --> 00:32:14,600 Speaker 1: was a short list of people, and obviously they got 587 00:32:14,640 --> 00:32:18,360 Speaker 1: Lisa Cook, they got Philip Jefferson, Leo Brainerd, obviously Jerome Powell. 588 00:32:18,480 --> 00:32:21,200 Speaker 1: So there are other people on that list, but certainly 589 00:32:21,440 --> 00:32:24,960 Speaker 1: you need to start with Joe Manchin. Anybody who could 590 00:32:24,960 --> 00:32:28,320 Speaker 1: say no is who you need to start with. In Rick, 591 00:32:28,360 --> 00:32:32,320 Speaker 1: do you buy this whole federal reserve? My uh, we're 592 00:32:32,360 --> 00:32:34,400 Speaker 1: doing this with one arm tied behind our back. We 593 00:32:34,440 --> 00:32:37,680 Speaker 1: can't fight inflation until the seats are filled. Obviously j 594 00:32:37,840 --> 00:32:41,239 Speaker 1: Pale is going to be there either, way. Yeah, it's 595 00:32:41,240 --> 00:32:43,680 Speaker 1: a bit of a cop out. J Pal's been there. 596 00:32:44,200 --> 00:32:47,240 Speaker 1: He's working every day, uh and very hard. This is 597 00:32:47,280 --> 00:32:50,400 Speaker 1: not an easy task to perform. Uh. They've got a 598 00:32:50,400 --> 00:32:53,960 Speaker 1: lot of conflicts within the Fed now on what they 599 00:32:54,040 --> 00:32:56,120 Speaker 1: need to do as far as their policy. How tough 600 00:32:56,160 --> 00:32:57,880 Speaker 1: do they want to be? Are they going to go 601 00:32:57,960 --> 00:33:01,760 Speaker 1: hard on you know these uh interest rate increases and 602 00:33:01,760 --> 00:33:04,000 Speaker 1: and the runoffs? Are they gonna you know, shorten the 603 00:33:04,040 --> 00:33:06,280 Speaker 1: time on the runoff or they're gonna be more devilish. 604 00:33:06,320 --> 00:33:08,760 Speaker 1: They've got really important decisions to make, and they can 605 00:33:08,800 --> 00:33:11,440 Speaker 1: do it with the crowd they've got, but they need 606 00:33:11,440 --> 00:33:14,920 Speaker 1: to have no further uh distractions. They need to be 607 00:33:15,640 --> 00:33:18,600 Speaker 1: singularly focused on the economy and not all this talk 608 00:33:18,640 --> 00:33:21,040 Speaker 1: about who's going to serve on the Fed. Well, a 609 00:33:21,080 --> 00:33:23,080 Speaker 1: lot more to follow on this one. This kind of 610 00:33:23,120 --> 00:33:25,600 Speaker 1: snuck up on us. It was right around the twelve 611 00:33:25,600 --> 00:33:28,040 Speaker 1: o'clock hour, as I mentioned, it was right when balance 612 00:33:28,080 --> 00:33:30,160 Speaker 1: of power was starting, Right as Pat Toomey sits in 613 00:33:30,240 --> 00:33:33,800 Speaker 1: the chair, Blamoh, there's your news for today, everybody, because 614 00:33:34,360 --> 00:33:37,840 Speaker 1: you needed more. Now. The other news today inside the 615 00:33:37,880 --> 00:33:40,840 Speaker 1: Beltway that we haven't really gotten to yet is hitting 616 00:33:40,840 --> 00:33:42,959 Speaker 1: everybody as they go home. It depends on what direction 617 00:33:42,960 --> 00:33:47,320 Speaker 1: you're going. And by the grace of God, I saw 618 00:33:47,360 --> 00:33:51,520 Speaker 1: it from the other side. The People's Convoy. We talked 619 00:33:51,560 --> 00:33:54,360 Speaker 1: about it. Remember they were driving around the Beltway, going 620 00:33:54,400 --> 00:33:57,560 Speaker 1: in circles like a NASCAR race. Well, this time they 621 00:33:57,560 --> 00:34:01,520 Speaker 1: actually went into the District of Columbia. As I read 622 00:34:01,560 --> 00:34:04,120 Speaker 1: on the Washington Post, People's Convoy drives through d C 623 00:34:04,880 --> 00:34:09,840 Speaker 1: after permit for organized demonstration downtown partially denied. Oh Man, 624 00:34:10,719 --> 00:34:15,040 Speaker 1: they took an exit off the Bellway, came into the 625 00:34:15,080 --> 00:34:18,400 Speaker 1: district for the first time since this whole thing began 626 00:34:18,680 --> 00:34:22,520 Speaker 1: last month. And so police got real serious about this 627 00:34:23,160 --> 00:34:27,080 Speaker 1: and started blocking all the exits into downtown. So if 628 00:34:27,160 --> 00:34:30,319 Speaker 1: you were one of the poor souls who got caught 629 00:34:30,320 --> 00:34:34,120 Speaker 1: in the fourteenth Street bridge or or wherever you ended 630 00:34:34,200 --> 00:34:40,520 Speaker 1: up across town, you're probably still sitting there eastbound traffic 631 00:34:40,520 --> 00:34:43,719 Speaker 1: crawling along a four mile stretch from the Potomac River 632 00:34:44,160 --> 00:34:46,719 Speaker 1: to the Anacostia right in the middle of the day. 633 00:34:46,760 --> 00:34:48,879 Speaker 1: It was stand still. You can say crawl if you want, 634 00:34:48,920 --> 00:34:52,080 Speaker 1: It was standstill when I saw it. Genie, my goodness, 635 00:34:52,120 --> 00:34:55,520 Speaker 1: the People's Convoy managed to actually bring some business to 636 00:34:55,600 --> 00:34:59,279 Speaker 1: a standstill in the city of Washington. Is there a 637 00:34:59,320 --> 00:35:02,920 Speaker 1: security can sir? You know? Was Ted Cruise leading it 638 00:35:03,040 --> 00:35:08,000 Speaker 1: like he was the speedway a few days ago? Yeah, 639 00:35:08,040 --> 00:35:10,040 Speaker 1: he is a fan. He he let it from the 640 00:35:10,080 --> 00:35:14,080 Speaker 1: Haggerston Speedway to the d C Beltway on Thursday. Um, 641 00:35:14,120 --> 00:35:16,440 Speaker 1: you know, if I said haggers Town, right, I think 642 00:35:16,440 --> 00:35:22,319 Speaker 1: I said hags tongue Hagerstown. Oh geez, geez. Sorry to everybody. Yeah, 643 00:35:22,320 --> 00:35:25,200 Speaker 1: everybody in d C that area. Sorry. Um, you know, 644 00:35:25,840 --> 00:35:28,960 Speaker 1: there is going to obviously be a security concern, but 645 00:35:28,960 --> 00:35:32,080 Speaker 1: but they the officials seem like they have it under control. Like, 646 00:35:32,120 --> 00:35:34,759 Speaker 1: I feel badly for anybody like you stuck on the road. 647 00:35:34,880 --> 00:35:37,560 Speaker 1: You know, I'm speaking to you from New York. Yeah, 648 00:35:37,719 --> 00:35:39,480 Speaker 1: from New York, and I could tell you the traffic 649 00:35:39,520 --> 00:35:41,760 Speaker 1: around here is a nightmare, but not because of the convoy. 650 00:35:41,880 --> 00:35:44,920 Speaker 1: So at my heart goes out to everybody. Our producer 651 00:35:45,040 --> 00:35:48,280 Speaker 1: Matt Shirley reminds us God, I hope Tim Kane, Senator 652 00:35:48,320 --> 00:35:50,120 Speaker 1: Tim Kane was not on the wrong highway when this 653 00:35:50,120 --> 00:35:54,759 Speaker 1: thing started. God knows he's got where with all. Uh Rick, 654 00:35:54,920 --> 00:35:57,000 Speaker 1: is this for real? I mean it's easy to make 655 00:35:57,040 --> 00:35:59,680 Speaker 1: fun because the whole thing is a little bit silly, 656 00:35:59,719 --> 00:36:03,200 Speaker 1: particularly when you're protesting a federal mandate that does not exist. 657 00:36:03,200 --> 00:36:05,920 Speaker 1: That was, you know, the vaccine mandate. But if you 658 00:36:05,920 --> 00:36:07,880 Speaker 1: can shut down the nation's capital like this in the 659 00:36:07,920 --> 00:36:12,440 Speaker 1: middle of a Monday afternoon, does that not present security worries? Sure? Uh, 660 00:36:13,040 --> 00:36:15,800 Speaker 1: you want roads open in case anything happens. And and 661 00:36:15,800 --> 00:36:19,400 Speaker 1: and you know, we we've singularly focused now on you know, 662 00:36:19,440 --> 00:36:21,640 Speaker 1: the new bad guys on the block, you know, Russia 663 00:36:21,640 --> 00:36:24,799 Speaker 1: and China. But there's still all kinds of other bad 664 00:36:24,840 --> 00:36:26,759 Speaker 1: people around who want to, you know, create a lot 665 00:36:26,800 --> 00:36:29,840 Speaker 1: of problems. And and why give them opportunities in our 666 00:36:29,960 --> 00:36:34,560 Speaker 1: nation's capital, Uh, to to create distractions from from the 667 00:36:34,560 --> 00:36:37,000 Speaker 1: hard work that we're getting done. And as you point out, 668 00:36:37,080 --> 00:36:40,319 Speaker 1: for for for no other reason than their own narcissism, 669 00:36:40,360 --> 00:36:44,080 Speaker 1: you know, to type traffic. What they protest is actually solved. 670 00:36:44,080 --> 00:36:47,240 Speaker 1: So go home, isn't that the listen to Rick Davis? 671 00:36:47,239 --> 00:36:51,000 Speaker 1: By God, you'll always probably work things out. Okave, things 672 00:36:51,040 --> 00:36:53,640 Speaker 1: will work out if you just listen to Rick. Thanks 673 00:36:53,640 --> 00:36:56,800 Speaker 1: to Rick and Genie our panel for Monday marches Women's 674 00:36:56,840 --> 00:36:59,960 Speaker 1: History Month, and every day this month, we're celebrating signific 675 00:37:00,040 --> 00:37:02,719 Speaker 1: in moments with Nida Young. So let's do it right now. 676 00:37:02,719 --> 00:37:06,000 Speaker 1: Here's Nita. On this day in Women's History. In nineteen 677 00:37:06,080 --> 00:37:10,040 Speaker 1: sixty nine, Barbara Joe Reuben becomes the first female jockey 678 00:37:10,040 --> 00:37:13,239 Speaker 1: to win a race against men at a nationally recognized 679 00:37:13,360 --> 00:37:17,560 Speaker 1: race track in the United States. She piloted Bravy Galaxy 680 00:37:17,600 --> 00:37:20,520 Speaker 1: to victory in front of a pat grandstand at Aqueduct 681 00:37:20,640 --> 00:37:23,719 Speaker 1: Racetrack in New York. About a month earlier that year, 682 00:37:23,760 --> 00:37:27,000 Speaker 1: Reuben also made history as the first female jockey to 683 00:37:27,080 --> 00:37:30,920 Speaker 1: win an American paramutual race while she was in West Virginia. 684 00:37:31,000 --> 00:37:33,520 Speaker 1: When Reuben was six years old, she was diagnosed with 685 00:37:33,560 --> 00:37:36,920 Speaker 1: polio and began riding shortly after as a form of 686 00:37:37,000 --> 00:37:40,279 Speaker 1: exercise and to help strengthen her legs. She made her 687 00:37:40,280 --> 00:37:43,880 Speaker 1: competitive debut in Nassau, Bahamas at the Hobby Horse Hall Track. 688 00:37:44,560 --> 00:37:47,280 Speaker 1: She made big waves as a rookie, but her career 689 00:37:47,360 --> 00:37:51,600 Speaker 1: was cut short by injuries after eighty nine mounts. That's 690 00:37:51,600 --> 00:37:56,120 Speaker 1: today in Women's History. I'm Nida Young, Bloombar Radio. Alright, Radia, 691 00:37:56,239 --> 00:37:58,839 Speaker 1: we thank you and appreciate you spending the fastest hour 692 00:37:58,960 --> 00:38:02,440 Speaker 1: in politics with meee. I'll be back here tomorrow. On Bloomberg. 693 00:38:02,520 --> 00:38:05,600 Speaker 1: Sound on. We'll wind up the panel and we'll have 694 00:38:05,680 --> 00:38:08,040 Speaker 1: markets covered for you, along with everything in the world 695 00:38:08,080 --> 00:38:11,400 Speaker 1: of politics as we connect the dots between Washington and 696 00:38:11,480 --> 00:38:16,520 Speaker 1: Wall Street. Monday's down. Watch out for the convoy. I'll 697 00:38:16,520 --> 00:38:19,360 Speaker 1: see you here tomorrow. I'm Joe Matthew. This is Bloomberg