1 00:00:00,040 --> 00:00:04,280 Speaker 1: And Kevin Cirilli, Bloomberg News Chief Washington correspondent for Bloomberg 2 00:00:04,320 --> 00:00:08,160 Speaker 1: Television and Bloomberg Radio. You are listening to sound On 3 00:00:08,800 --> 00:00:11,920 Speaker 1: We are joined today to help us navigate through a 4 00:00:12,000 --> 00:00:16,000 Speaker 1: host of different headlines, most notably the US China trade 5 00:00:16,040 --> 00:00:19,920 Speaker 1: developments that have happened all day today. By Jennifer Holdsworth. 6 00:00:20,040 --> 00:00:25,119 Speaker 1: She's a Democratic strategist and MWWPR Senior Vice president of 7 00:00:25,200 --> 00:00:29,560 Speaker 1: Issues Management. She's also a former adviser to Congressman Seth 8 00:00:29,640 --> 00:00:34,160 Speaker 1: Malton and former New Jersey state director for Hillary for America. 9 00:00:34,240 --> 00:00:37,479 Speaker 1: A friend of the program and Hart meet Dylan her 10 00:00:37,520 --> 00:00:39,800 Speaker 1: first time on the program. She is an r n 11 00:00:39,880 --> 00:00:43,120 Speaker 1: C committee woman for the state of California, as well 12 00:00:43,159 --> 00:00:48,040 Speaker 1: as a civil rights attorney and Republican National Lawyers Association 13 00:00:48,080 --> 00:00:51,000 Speaker 1: board member. Harmy, Welcome, fresh off the plane. Yes, happy 14 00:00:51,080 --> 00:00:52,600 Speaker 1: to be here. Thank you. It's so great to have 15 00:00:52,720 --> 00:00:56,080 Speaker 1: you here. So we were just listening Harmy to President 16 00:00:56,120 --> 00:00:59,880 Speaker 1: Trump discussed the potential for some type of a degree 17 00:01:00,040 --> 00:01:04,120 Speaker 1: meant between the US between China, but it's not there yet. 18 00:01:04,480 --> 00:01:06,959 Speaker 1: And if you look at what the business community is 19 00:01:07,000 --> 00:01:09,600 Speaker 1: saying that they would like to see, they're a bit 20 00:01:09,720 --> 00:01:12,640 Speaker 1: uneasy about where things go with tariffs. What do you 21 00:01:12,680 --> 00:01:16,560 Speaker 1: make of these developments today, especially as the Chinese Vice 22 00:01:16,560 --> 00:01:20,479 Speaker 1: premier concluding his talks with Treasury Secretary Manution and US 23 00:01:20,520 --> 00:01:24,479 Speaker 1: Trade Representative Lightheiser. Well, didn't get a chance to hear 24 00:01:24,520 --> 00:01:26,880 Speaker 1: all the remarks, but I think it is excellent that 25 00:01:26,959 --> 00:01:29,080 Speaker 1: we are going to see some stability in this relationship. 26 00:01:29,120 --> 00:01:31,400 Speaker 1: But I think the President has really brought to this debate, 27 00:01:31,840 --> 00:01:35,199 Speaker 1: has been resetting the discussion between these countries. I think 28 00:01:35,440 --> 00:01:37,600 Speaker 1: China has been taking advantage of the United States on 29 00:01:37,640 --> 00:01:42,120 Speaker 1: trade issues, on intellectual property and on you know, frankly, 30 00:01:42,200 --> 00:01:45,000 Speaker 1: theft of I P for many years, and it's time 31 00:01:45,000 --> 00:01:47,480 Speaker 1: that we reset the expectations and our country cannot be 32 00:01:47,520 --> 00:01:52,000 Speaker 1: that dependent on so many different moving parts today. And 33 00:01:52,040 --> 00:01:54,480 Speaker 1: we'll get to this coming up later on in the program, 34 00:01:54,480 --> 00:01:59,040 Speaker 1: including the President Trump has selected Herman Kaine Herman Kine 35 00:01:59,080 --> 00:02:02,200 Speaker 1: for the Federal Reserve Board, the President saying that he 36 00:02:02,320 --> 00:02:06,080 Speaker 1: is a top tier level individual who will fit in 37 00:02:06,640 --> 00:02:09,280 Speaker 1: well at the at the Fedboard. But before we get 38 00:02:09,320 --> 00:02:12,840 Speaker 1: to that, Jennifer Holdsworth, Democratic Strategist, a lot of the 39 00:02:13,360 --> 00:02:15,919 Speaker 1: moving parts today at the White House, and I was 40 00:02:15,960 --> 00:02:18,600 Speaker 1: at the White House earlier today and we were covering 41 00:02:19,240 --> 00:02:23,880 Speaker 1: the different developments as to what exactly China would agree to, 42 00:02:24,600 --> 00:02:28,680 Speaker 1: and they are, according to Bloomberg's reporting on the Bloomberg terminal, 43 00:02:29,120 --> 00:02:31,760 Speaker 1: they are saying that they would be open to purchasing 44 00:02:31,800 --> 00:02:35,560 Speaker 1: more commodities that the US would be able to purchase 45 00:02:35,639 --> 00:02:41,120 Speaker 1: Chinese firms, that there would be some deadlines so to speak, 46 00:02:41,160 --> 00:02:45,880 Speaker 1: in terms of UH the commitment for China to follow 47 00:02:45,960 --> 00:02:49,919 Speaker 1: through on their commitments, and then a ninety to day 48 00:02:49,960 --> 00:02:53,840 Speaker 1: window potentially as a as a checkpoint to see if 49 00:02:53,919 --> 00:02:58,280 Speaker 1: China's getting on the right path From a political standpoint, 50 00:02:59,160 --> 00:03:02,040 Speaker 1: do you think it's smart that the president wrapped this 51 00:03:02,200 --> 00:03:05,600 Speaker 1: up but fors in the high gear or should he 52 00:03:05,680 --> 00:03:09,160 Speaker 1: keep China as a political pinata so to speak as 53 00:03:09,200 --> 00:03:13,120 Speaker 1: he heads into cycle. I think there's a couple of 54 00:03:13,120 --> 00:03:14,880 Speaker 1: different ways that you can look at this. I mean, 55 00:03:14,960 --> 00:03:19,160 Speaker 1: number one, anybody looking at this issue has to acknowledge 56 00:03:19,160 --> 00:03:24,400 Speaker 1: that unless these talks UH talk about enforcement, there will 57 00:03:24,440 --> 00:03:27,000 Speaker 1: be no deal. Right. So the business community is very 58 00:03:27,040 --> 00:03:29,480 Speaker 1: adamant about this, and it doesn't seem something that the 59 00:03:29,520 --> 00:03:32,360 Speaker 1: President is willing to address. I think this makes the 60 00:03:32,360 --> 00:03:35,760 Speaker 1: president and his advisors look weak. We know that there 61 00:03:35,760 --> 00:03:38,640 Speaker 1: will be no deal unless this is addressed now. On 62 00:03:38,680 --> 00:03:41,280 Speaker 1: the other hand, I think it's a positive thing that 63 00:03:41,320 --> 00:03:44,120 Speaker 1: there has been, um, you know, a lot of progress 64 00:03:44,160 --> 00:03:47,440 Speaker 1: in terms of tariffs and other parts of the conversation. 65 00:03:47,960 --> 00:03:51,880 Speaker 1: But you know, contrary to the president's own proclamation, he's 66 00:03:51,920 --> 00:03:55,000 Speaker 1: actually not a good dealmaker and hasn't shown to be 67 00:03:55,240 --> 00:03:58,360 Speaker 1: thus far in his administration. So there's a real lack 68 00:03:58,440 --> 00:04:02,840 Speaker 1: of trust about whether he has visibility to see this through. Well, 69 00:04:02,880 --> 00:04:04,320 Speaker 1: I don't know about that. I mean, I think he's 70 00:04:04,360 --> 00:04:06,520 Speaker 1: actually done a great job making deals in the first 71 00:04:06,520 --> 00:04:09,000 Speaker 1: half of an administration in various ways, but he doesn't 72 00:04:09,040 --> 00:04:12,160 Speaker 1: control China, and I think frankly, although Lightheiser is doing 73 00:04:12,200 --> 00:04:15,040 Speaker 1: a great job in this regard, um, we're only talking 74 00:04:15,080 --> 00:04:18,480 Speaker 1: about a really subset of the issues between our two countries, 75 00:04:18,560 --> 00:04:20,600 Speaker 1: and so I think it'll be interesting to see. We've 76 00:04:20,640 --> 00:04:22,400 Speaker 1: had many deals with China in the past and they 77 00:04:22,440 --> 00:04:25,560 Speaker 1: haven't lived up to their obligations. Um. When you visit 78 00:04:25,640 --> 00:04:27,960 Speaker 1: other countries in the region, like Australia New Zealand I 79 00:04:28,040 --> 00:04:30,440 Speaker 1: visited recently, there's a real fear of what China is 80 00:04:30,440 --> 00:04:32,200 Speaker 1: actually doing. They say one thing and then they're getting 81 00:04:32,240 --> 00:04:34,279 Speaker 1: the door. They're buying up the farms, are buying up 82 00:04:34,320 --> 00:04:37,839 Speaker 1: the agriculture, They're buying up vertical, uh, the lines of distribution. 83 00:04:37,880 --> 00:04:39,719 Speaker 1: And so I think that American needs proved very wary 84 00:04:39,760 --> 00:04:42,119 Speaker 1: and careful because we've been lied to by China before. 85 00:04:42,560 --> 00:04:44,320 Speaker 1: I think that's where you're going to see some agreement 86 00:04:44,640 --> 00:04:47,600 Speaker 1: between democratic leaders and not even like three minutes in 87 00:04:47,680 --> 00:04:50,640 Speaker 1: the program that I already had Jennifer Holdsworth, democratic strategist 88 00:04:50,680 --> 00:04:53,400 Speaker 1: at harmat Dolon, a Republican strategist and of course a 89 00:04:54,600 --> 00:04:57,360 Speaker 1: chairperson of the of the Republican Lawyers Association. I have 90 00:04:57,440 --> 00:05:00,640 Speaker 1: them agree, that's what we do. I think, I think 91 00:05:00,880 --> 00:05:07,360 Speaker 1: you're gonna find some um, you know, just in terms 92 00:05:07,400 --> 00:05:09,240 Speaker 1: of what her meat said about this being a sub 93 00:05:09,560 --> 00:05:12,880 Speaker 1: subset of issues, um that are actually facing us concerned 94 00:05:12,920 --> 00:05:15,320 Speaker 1: with China. I was struck by everybody wants to know 95 00:05:15,440 --> 00:05:17,880 Speaker 1: when President Trump and and President shi Jing Ping of 96 00:05:18,000 --> 00:05:21,960 Speaker 1: China are finally gonna have their meeting, likely down at 97 00:05:22,000 --> 00:05:24,200 Speaker 1: Marra Lago. At least that's the rubber around the White House, 98 00:05:24,640 --> 00:05:26,960 Speaker 1: and that's where Chinese spies go, So it would be apropa. 99 00:05:28,640 --> 00:05:30,840 Speaker 1: Do we have like that, like the like symbols and 100 00:05:30,880 --> 00:05:34,760 Speaker 1: the drums yeah, but but I was struck by the 101 00:05:34,800 --> 00:05:39,120 Speaker 1: President saying if there is a deal, then they will meet. Now, 102 00:05:39,240 --> 00:05:42,320 Speaker 1: at face value, you're like, Kevin, that's not really breaking news, 103 00:05:42,400 --> 00:05:45,200 Speaker 1: But it is because it suggests that President Trump is 104 00:05:45,320 --> 00:05:48,360 Speaker 1: not going to have a face to face meeting and 105 00:05:48,520 --> 00:05:51,800 Speaker 1: walk out like he did in in Vietnam with North 106 00:05:51,880 --> 00:05:54,480 Speaker 1: Korean leader Kim Joun. What he is forecasting, and what 107 00:05:54,600 --> 00:05:58,360 Speaker 1: President Trump forecasted within the last sixty minutes is that 108 00:05:58,880 --> 00:06:01,600 Speaker 1: when he meets with President Shi Jing paying it will 109 00:06:01,680 --> 00:06:07,120 Speaker 1: be to formally wrap up the US China trade agreement, 110 00:06:07,680 --> 00:06:10,760 Speaker 1: which is a massive signal to the market. Nope, it is, 111 00:06:10,920 --> 00:06:12,760 Speaker 1: but that is just the beginning of the process, not 112 00:06:12,920 --> 00:06:14,480 Speaker 1: the end of the process. And I think that what 113 00:06:14,600 --> 00:06:17,680 Speaker 1: I've seen, um some smart commentators talk about this in 114 00:06:17,720 --> 00:06:20,080 Speaker 1: the same sense as our relationship with Russia during the 115 00:06:20,120 --> 00:06:22,360 Speaker 1: Cold War. We're really seeing a coming Cold war where 116 00:06:22,400 --> 00:06:25,200 Speaker 1: we're talking about trust but verify. And so you saw 117 00:06:25,279 --> 00:06:28,640 Speaker 1: in uh the opening remarks here that there's gonna be 118 00:06:28,640 --> 00:06:31,160 Speaker 1: a d day compliance period that's pretty short for these 119 00:06:31,200 --> 00:06:34,240 Speaker 1: types of trade agreements, and so there is a real 120 00:06:34,320 --> 00:06:37,000 Speaker 1: lack of trust here. And if we don't see follow through, 121 00:06:37,360 --> 00:06:39,200 Speaker 1: then I don't think you're going to be having that 122 00:06:39,320 --> 00:06:42,719 Speaker 1: same sanguine approach from the markets. The President also has 123 00:06:42,760 --> 00:06:45,799 Speaker 1: a habit of blowing up these negotiations in a various 124 00:06:45,960 --> 00:06:48,080 Speaker 1: you know, in various ways. So I think there's not 125 00:06:48,160 --> 00:06:50,280 Speaker 1: only a lack of trust between our two countries, but 126 00:06:50,400 --> 00:06:52,080 Speaker 1: I think there's a lack of trust in the market 127 00:06:52,160 --> 00:06:54,440 Speaker 1: and the President seeing this through. But that's a style. 128 00:06:54,760 --> 00:06:57,640 Speaker 1: It's a style to actually a play tough, walk away 129 00:06:57,680 --> 00:06:59,520 Speaker 1: from the table, no when to fold them and when 130 00:06:59,560 --> 00:07:02,040 Speaker 1: to walk way, And it works for some people. It's 131 00:07:02,080 --> 00:07:03,840 Speaker 1: been working for the President, and I think we have 132 00:07:03,920 --> 00:07:06,520 Speaker 1: to take a different approach because the approach we've taken 133 00:07:06,560 --> 00:07:10,000 Speaker 1: previously with the diplomacy has had America run all over. 134 00:07:10,120 --> 00:07:11,640 Speaker 1: It's okay if you have a style, if you have 135 00:07:11,760 --> 00:07:14,320 Speaker 1: substance behind it, that's not the case. Well, respectfully to 136 00:07:14,440 --> 00:07:17,160 Speaker 1: both of you. I thought the Washington National fans were 137 00:07:17,200 --> 00:07:21,520 Speaker 1: more disrespectful to Mr Harper of my Philadelphia Phillies the 138 00:07:21,600 --> 00:07:24,520 Speaker 1: other day. Then the President has been to Chinese President 139 00:07:24,600 --> 00:07:27,840 Speaker 1: shi Jing Ping. Look, I've covered President Trump virtually since 140 00:07:27,920 --> 00:07:30,240 Speaker 1: the escalator when he was a candidate, and I have 141 00:07:30,360 --> 00:07:34,280 Speaker 1: been absolutely and it's notable to see how restrained he 142 00:07:34,360 --> 00:07:37,360 Speaker 1: has been in his commentary with Chinese President shi Jing. 143 00:07:37,440 --> 00:07:40,720 Speaker 1: Think he's been tougher on some republicans that he has been. 144 00:07:41,200 --> 00:07:44,360 Speaker 1: He respects China. I think he respects China. That doesn't 145 00:07:44,400 --> 00:07:46,880 Speaker 1: mean he admires or appreciates what they're doing to our country. 146 00:07:46,920 --> 00:07:49,440 Speaker 1: But they're I think viewed as an adversary and are 147 00:07:49,440 --> 00:07:51,600 Speaker 1: worthy adversary. Let me let me press you on this 148 00:07:51,760 --> 00:07:54,040 Speaker 1: and ask a follow up in the sense that when 149 00:07:54,200 --> 00:07:57,520 Speaker 1: when you look at the polls, there is mistrust of China, 150 00:07:57,960 --> 00:08:02,600 Speaker 1: it's it's universal, it's spanned. It is the political spectrum, Democrats, 151 00:08:03,160 --> 00:08:06,320 Speaker 1: working class voters on the left and on the right. Uh, 152 00:08:06,960 --> 00:08:10,160 Speaker 1: you have that that mistrust of China and are wary 153 00:08:10,320 --> 00:08:13,680 Speaker 1: of its economic prowess in particular. So is it wise 154 00:08:14,240 --> 00:08:18,680 Speaker 1: harbeek Dylon to have the president being so maybe I 155 00:08:18,720 --> 00:08:22,560 Speaker 1: don't want to say to use this rhetorical approach as 156 00:08:22,600 --> 00:08:25,320 Speaker 1: opposed to beating up on China. Well, I don't know. 157 00:08:25,440 --> 00:08:27,040 Speaker 1: I mean, I think what it's going to remain to 158 00:08:27,080 --> 00:08:30,520 Speaker 1: see how this relationship evolves. But certainly you can't in 159 00:08:30,600 --> 00:08:35,240 Speaker 1: the diplomatic world, get to an agreement with foreign nation 160 00:08:35,520 --> 00:08:37,559 Speaker 1: while beating up on them. It isn't you know, like 161 00:08:37,640 --> 00:08:40,199 Speaker 1: a wrestling match here, You know that there does have 162 00:08:40,320 --> 00:08:42,960 Speaker 1: to be that respect. But behind the scenes is where 163 00:08:42,960 --> 00:08:44,920 Speaker 1: the devil is really in the details and how all 164 00:08:45,000 --> 00:08:46,720 Speaker 1: these details are going to come together, and I think 165 00:08:46,800 --> 00:08:49,880 Speaker 1: most importantly the verification part. But you could show me 166 00:08:50,000 --> 00:08:52,120 Speaker 1: all of those numbers and all the verification and I 167 00:08:52,200 --> 00:08:55,920 Speaker 1: will still believe China is going to be stealing, lying 168 00:08:56,520 --> 00:08:58,640 Speaker 1: and undercutting, because that's how they've gotten to be a 169 00:08:58,679 --> 00:09:02,520 Speaker 1: world power. How did oocrats, especially in the crowded field? 170 00:09:02,520 --> 00:09:05,280 Speaker 1: And did you see this Congressman Tim Ryan who was 171 00:09:05,320 --> 00:09:07,960 Speaker 1: on the program the other week, He is formally uh 172 00:09:08,720 --> 00:09:11,160 Speaker 1: saying that he's going to add his name to the 173 00:09:11,880 --> 00:09:15,360 Speaker 1: democratic field. He comes from Youngstown, Ohio, one of ground 174 00:09:15,600 --> 00:09:20,760 Speaker 1: zero for the economic trade wars, spats, disputes, call it 175 00:09:20,880 --> 00:09:24,240 Speaker 1: what you want, but how do democrats Jennifer Holdsworth in 176 00:09:24,559 --> 00:09:27,760 Speaker 1: a crowded field where there is a lot of consensus 177 00:09:27,920 --> 00:09:31,200 Speaker 1: on the issue of China, how do they differentiate themselves? 178 00:09:31,480 --> 00:09:34,240 Speaker 1: Is it purely a matter of style in terms of 179 00:09:34,280 --> 00:09:37,040 Speaker 1: the approach that they would take versus what the president 180 00:09:37,200 --> 00:09:39,520 Speaker 1: is taking. I think you're going to see a wide 181 00:09:39,640 --> 00:09:44,959 Speaker 1: range of policy prescriptions on trade but more broadly about 182 00:09:45,080 --> 00:09:50,000 Speaker 1: how this affects the economy um as a macrocosum. Right, 183 00:09:50,080 --> 00:09:53,320 Speaker 1: So you know you're gonna have people from the Midwest, 184 00:09:53,360 --> 00:09:56,880 Speaker 1: from the rest belt, and you know, specifically Congressman Ryan 185 00:09:57,280 --> 00:10:00,280 Speaker 1: Um you know, talk about the economy as not being 186 00:10:00,360 --> 00:10:02,840 Speaker 1: that great. Right. Let we hear the president crow quite 187 00:10:02,880 --> 00:10:05,480 Speaker 1: often about how well the economy is doing. But a 188 00:10:05,559 --> 00:10:08,199 Speaker 1: lot of the jobs being lost in that area of 189 00:10:08,320 --> 00:10:11,400 Speaker 1: the country are a direct result of policies that this 190 00:10:11,520 --> 00:10:14,320 Speaker 1: president is trying to pursue. But then on the other hand, 191 00:10:14,880 --> 00:10:17,199 Speaker 1: you've got you know, the far left of my party 192 00:10:17,679 --> 00:10:21,199 Speaker 1: essentially meeting the far right of the Republican Party on 193 00:10:21,280 --> 00:10:22,880 Speaker 1: the other side. In terms of trade, You're going to 194 00:10:23,000 --> 00:10:26,680 Speaker 1: hear from you know, Senator Bernie Bernie Sanders in agreement 195 00:10:26,720 --> 00:10:28,560 Speaker 1: with the President on a lot. So I think you're 196 00:10:28,600 --> 00:10:30,719 Speaker 1: going to see a wide range here. Oh. I don't 197 00:10:30,760 --> 00:10:32,720 Speaker 1: think these labels of far right and far left are 198 00:10:32,720 --> 00:10:35,760 Speaker 1: really meaningful anymore. I think there's a fundamental different worldview 199 00:10:35,800 --> 00:10:39,480 Speaker 1: amongst you know people today, and it's very easy to say, well, 200 00:10:39,520 --> 00:10:41,120 Speaker 1: some of these jobs are being lost in the short 201 00:10:41,200 --> 00:10:42,959 Speaker 1: term and in the long term, what did Barack Obama 202 00:10:43,040 --> 00:10:46,079 Speaker 1: do for the people of Youngstown, Ohio. What have Democrats 203 00:10:46,160 --> 00:10:48,000 Speaker 1: been doing despite all of their rhetoric and the rest 204 00:10:48,080 --> 00:10:50,559 Speaker 1: belt for all of these years, They've done nothing. President 205 00:10:50,600 --> 00:10:54,280 Speaker 1: Trump is actually the first president in generations who's put 206 00:10:54,520 --> 00:10:57,840 Speaker 1: an emphasis on growing those blue collar jobs and respecting 207 00:10:57,880 --> 00:11:01,160 Speaker 1: our borders and negotiating tough for amy. I do want 208 00:11:01,160 --> 00:11:04,160 Speaker 1: to note it's not just us trying to trade talks 209 00:11:04,280 --> 00:11:08,560 Speaker 1: that are having developments today. How Speaker Nancy Pelosi said 210 00:11:09,120 --> 00:11:13,040 Speaker 1: that she does not plan to use President Trump's not 211 00:11:13,320 --> 00:11:15,560 Speaker 1: to two point over US m c A trade accord 212 00:11:15,840 --> 00:11:19,600 Speaker 1: as leverage to advance other democratic priorities. So it will 213 00:11:19,720 --> 00:11:23,640 Speaker 1: stand on its own, quote unquote, it will stand on 214 00:11:23,800 --> 00:11:28,200 Speaker 1: its own, uh, Speaker Pelosi saying earlier today, which means 215 00:11:28,679 --> 00:11:31,880 Speaker 1: sooner rather than later, we might have a vote on that. 216 00:11:32,400 --> 00:11:35,960 Speaker 1: Coming up, we will talk more about presidential field, plus 217 00:11:36,280 --> 00:11:39,960 Speaker 1: how Republicans are hitting big tech panel stays. You can 218 00:11:40,040 --> 00:11:44,400 Speaker 1: download the sound on podcast on Apple iTunes, at Bloomberg 219 00:11:44,480 --> 00:11:47,439 Speaker 1: dot com, or by downloading the Bloomberg Business app. You 220 00:11:47,520 --> 00:11:50,040 Speaker 1: can also find us on Radio dot com and I 221 00:11:50,240 --> 00:11:53,719 Speaker 1: Heart Radio, as well as Spotify. I'm Kevin Sirelli. You're 222 00:11:53,800 --> 00:12:02,199 Speaker 1: listening to Bloomberg this he's sound on with Kevin's relate 223 00:12:02,559 --> 00:12:06,199 Speaker 1: on Bloomberg and one oh five point seven f m 224 00:12:06,320 --> 00:12:11,880 Speaker 1: h D two, Baltimore, Friday, Eve. I'm Kevin Seilli, Bloomberg 225 00:12:11,960 --> 00:12:16,439 Speaker 1: News Chief Washington correspondent for Bloomberg Television and Bloomberg Radio. 226 00:12:16,600 --> 00:12:20,560 Speaker 1: President Trump we were talking about earlier saying that there 227 00:12:20,720 --> 00:12:23,959 Speaker 1: might be in the next couple of weeks a trade 228 00:12:23,960 --> 00:12:26,719 Speaker 1: agreement with China. He made those remarks just within the 229 00:12:26,840 --> 00:12:30,160 Speaker 1: last ninety minutes or so inside of the White House 230 00:12:30,280 --> 00:12:34,440 Speaker 1: Oval Office. He was seated next to Chinese Vice Premier Leoha, 231 00:12:35,080 --> 00:12:40,520 Speaker 1: essentially the Treasury Secretary of China. Uh. The Chinese Vice 232 00:12:40,559 --> 00:12:43,720 Speaker 1: Premier was in town the last couple of days, meeting 233 00:12:43,800 --> 00:12:49,719 Speaker 1: with Treasury Secretary Manution, as well as US Trade Representative Lightheizer. Meanwhile, 234 00:12:50,520 --> 00:12:54,439 Speaker 1: there was some other major developments today, especially if you 235 00:12:54,640 --> 00:12:59,760 Speaker 1: follow the Central bank politics. Herman Kane, remember him, Herman Kane, 236 00:13:02,000 --> 00:13:08,280 Speaker 1: that plan, Uh, he is going to be named to 237 00:13:08,480 --> 00:13:11,880 Speaker 1: the Federal Reserve Board. Our very own Jennifer Jacobs with 238 00:13:12,040 --> 00:13:17,079 Speaker 1: that scoop earlier today, joining us to walk us through 239 00:13:17,160 --> 00:13:21,559 Speaker 1: a bevy of different headlines. Jennifer Holdsworthy, Democratic strategist. She's 240 00:13:21,600 --> 00:13:25,680 Speaker 1: an s v P at mw W p R. She's 241 00:13:25,720 --> 00:13:28,920 Speaker 1: a former adviser to Congressman Seth Malton and former New 242 00:13:29,000 --> 00:13:32,120 Speaker 1: Jersey state director for Hillary for America and Harmat Dylan, 243 00:13:32,760 --> 00:13:35,599 Speaker 1: an r n C Committee woman for California. She's a 244 00:13:35,640 --> 00:13:39,679 Speaker 1: civil rights attorney and a board member for the Republican 245 00:13:39,920 --> 00:13:44,920 Speaker 1: National Lawyers Association. All Right, Jennifer Holdsworth Herman Kaine to 246 00:13:45,040 --> 00:13:47,559 Speaker 1: the Fedboard. This just a about a week or so 247 00:13:48,240 --> 00:13:53,640 Speaker 1: since Stephen Moore, another conservative of the previous or previously 248 00:13:53,720 --> 00:13:56,599 Speaker 1: of the Heritage Foundation. What do you make of it? 249 00:13:57,360 --> 00:14:01,040 Speaker 1: You know, I think we're used to, you know, appointments 250 00:14:01,080 --> 00:14:04,120 Speaker 1: to the board of folks that uh lean one way 251 00:14:04,240 --> 00:14:06,360 Speaker 1: or the other. But I think it's very rare for 252 00:14:06,440 --> 00:14:09,319 Speaker 1: them to be so overtly partisan. Right. I think you 253 00:14:09,400 --> 00:14:12,880 Speaker 1: saw a Senator Romney even today, UM expressing some surprise 254 00:14:13,040 --> 00:14:16,160 Speaker 1: that this was um in talks, he actually thought that 255 00:14:16,240 --> 00:14:18,439 Speaker 1: the nomination may not go all the way through. He 256 00:14:18,600 --> 00:14:20,960 Speaker 1: was not quite convinced that this was serious. You know, 257 00:14:21,000 --> 00:14:24,080 Speaker 1: I think there's a couple of things here. Um. You know, 258 00:14:24,840 --> 00:14:27,520 Speaker 1: Hermi Kane has business experience, but I don't think it's 259 00:14:27,600 --> 00:14:31,000 Speaker 1: very credible in terms of monetary policy. Um, On the 260 00:14:31,080 --> 00:14:34,040 Speaker 1: other hand, you know, in an in an environment where 261 00:14:34,160 --> 00:14:37,920 Speaker 1: we are constantly discussing um, you know, the me too 262 00:14:38,040 --> 00:14:40,600 Speaker 1: movement right now, I think everybody is forgetting that. One 263 00:14:40,640 --> 00:14:42,680 Speaker 1: of the reasons why Herman Kane was forced as a 264 00:14:42,760 --> 00:14:45,760 Speaker 1: presidential race when he ran was because he was accused 265 00:14:45,800 --> 00:14:48,680 Speaker 1: of extremely inappropriate conduct when he was at the National 266 00:14:48,760 --> 00:14:53,160 Speaker 1: Restaurant Association. And for this particular president to appoint him 267 00:14:53,240 --> 00:14:56,400 Speaker 1: to that role, I think it is very suspect awesome. 268 00:14:56,480 --> 00:14:58,200 Speaker 1: I heard a lot of cheap shots there, but the 269 00:14:58,320 --> 00:15:01,600 Speaker 1: reality is that these two nominees from the president are 270 00:15:01,600 --> 00:15:04,280 Speaker 1: actually quite different. One comes from more of a think 271 00:15:04,360 --> 00:15:06,680 Speaker 1: tank academic setting, and I don't think it was a 272 00:15:06,720 --> 00:15:11,280 Speaker 1: particular supporter of the president. Frankly is historically and respectfully 273 00:15:11,320 --> 00:15:13,640 Speaker 1: on that he wrote the book called Trump and Economics 274 00:15:14,040 --> 00:15:17,000 Speaker 1: trump Anomics. Well historically is what I'm saying. You know, 275 00:15:17,120 --> 00:15:20,000 Speaker 1: there's the president has a long history, okay, and so 276 00:15:20,240 --> 00:15:22,880 Speaker 1: you know he's been a heritage from the mainstream conservative 277 00:15:22,920 --> 00:15:24,920 Speaker 1: and he comes out of that different way of the party. 278 00:15:25,000 --> 00:15:29,560 Speaker 1: And then Kane is a tea party guy and has 279 00:15:29,720 --> 00:15:32,800 Speaker 1: this business experience as very lengthy as well as some 280 00:15:32,920 --> 00:15:36,160 Speaker 1: experience in the banking sector. So let's not pretend like 281 00:15:36,320 --> 00:15:39,160 Speaker 1: the membership on the board means that they're setting United 282 00:15:39,160 --> 00:15:42,200 Speaker 1: States monetary policy. They're one of many, and it's really 283 00:15:42,240 --> 00:15:44,680 Speaker 1: the chair of that commission that does that. In September, 284 00:15:44,800 --> 00:15:48,800 Speaker 1: Herman Kine co founded a pro Trump super pack called 285 00:15:48,840 --> 00:15:53,000 Speaker 1: America Fighting Back. But but I think harm Meat makes 286 00:15:53,040 --> 00:15:56,000 Speaker 1: an interesting point in the sense of let's dig beyond 287 00:15:56,280 --> 00:16:01,200 Speaker 1: the punditry commentary of what the public like nose of 288 00:16:01,240 --> 00:16:03,040 Speaker 1: Herman Kane and let's let's take a little deeper from 289 00:16:05,160 --> 00:16:08,560 Speaker 1: He served as a director of the Federal Reserve Bank 290 00:16:08,720 --> 00:16:11,360 Speaker 1: of Kansas City as well as deputy chairman and then 291 00:16:11,440 --> 00:16:15,120 Speaker 1: ultimately chairman of the Federal Reserve Bank of Kansas City. UH. 292 00:16:15,320 --> 00:16:17,720 Speaker 1: He has advocated for a return of the gold standard. 293 00:16:18,480 --> 00:16:22,320 Speaker 1: Jennifer Holdsworth brings up the point of Senator Romney. I 294 00:16:22,360 --> 00:16:25,000 Speaker 1: don't think it's anyone, No, no one's too surprised that 295 00:16:25,080 --> 00:16:28,320 Speaker 1: Senator Romney's disagreeing with President Trump. But he is a 296 00:16:28,360 --> 00:16:30,440 Speaker 1: membery came as also one of his competitors, so there 297 00:16:30,520 --> 00:16:34,880 Speaker 1: might be some snobbery there really is what it is. 298 00:16:35,400 --> 00:16:37,480 Speaker 1: But but he is a member of the Senate Banking Committee, 299 00:16:37,520 --> 00:16:40,680 Speaker 1: and that of course will have to advance these nominations. 300 00:16:41,240 --> 00:16:44,800 Speaker 1: So you know, it is it is incredibly notable that 301 00:16:44,920 --> 00:16:47,000 Speaker 1: that Senator Romney is saying, hey, you might have a 302 00:16:47,080 --> 00:16:52,160 Speaker 1: difficult path ahead. But I don't know. I mean, you 303 00:16:52,280 --> 00:16:55,840 Speaker 1: look at sort of how these nominees on the fedboard 304 00:16:55,880 --> 00:16:58,640 Speaker 1: are acting, and the President has been you know, chastising 305 00:16:58,720 --> 00:17:02,200 Speaker 1: Chairman Powell for quite some time. But now he's got 306 00:17:02,520 --> 00:17:06,280 Speaker 1: two political pit bulls who are ready to go after 307 00:17:06,640 --> 00:17:08,600 Speaker 1: after Chairman Power. Should they get on the board. No, 308 00:17:09,240 --> 00:17:11,240 Speaker 1: I don't know about political pit bulls. Again, like I've 309 00:17:11,280 --> 00:17:13,520 Speaker 1: known Stephen Moore since I was inherited in the eighties, 310 00:17:13,560 --> 00:17:15,520 Speaker 1: and you know, that's it's, it's it's it's easy to 311 00:17:15,640 --> 00:17:17,520 Speaker 1: characterize people that way. But I think he's actually very 312 00:17:17,560 --> 00:17:20,560 Speaker 1: thoughtful economist and he's not afraid to have a fight. 313 00:17:20,600 --> 00:17:24,080 Speaker 1: I mean, he's he's not afraid to echo. Isn't some anodyne, 314 00:17:24,440 --> 00:17:27,399 Speaker 1: you know, emasculated egghead? That's fine, and I you know, 315 00:17:27,480 --> 00:17:29,520 Speaker 1: that's in the style of the president. I think actually 316 00:17:29,680 --> 00:17:32,080 Speaker 1: to the extent that I would call that a political 317 00:17:32,200 --> 00:17:35,639 Speaker 1: pit bull, well, you know, a political pit bull with credentials, 318 00:17:35,840 --> 00:17:39,080 Speaker 1: and both of them have good credentials. Pit bull potato potato, 319 00:17:39,240 --> 00:17:42,080 Speaker 1: pitbull potato. Now, what do you how is that going 320 00:17:42,200 --> 00:17:46,000 Speaker 1: to excite the debate around what many would say is 321 00:17:46,119 --> 00:17:49,399 Speaker 1: sometimes I find it fascinating. Others would characterize as boring 322 00:17:49,960 --> 00:17:52,440 Speaker 1: monetary policy. Yes, so I think this is a little 323 00:17:52,480 --> 00:17:55,120 Speaker 1: bit of a chattering class issue. Um, you know, these 324 00:17:55,359 --> 00:17:58,920 Speaker 1: these look interest rates are going to affect all the 325 00:17:59,000 --> 00:18:01,280 Speaker 1: people all the time. I'm right. So if you really 326 00:18:01,320 --> 00:18:03,440 Speaker 1: want to make this about main street and pocket book 327 00:18:03,480 --> 00:18:07,159 Speaker 1: issues and carried into the conversation, then yeah, then it 328 00:18:07,280 --> 00:18:09,159 Speaker 1: is something that I think press around the country is 329 00:18:09,160 --> 00:18:11,440 Speaker 1: going to talk about. But you know, if we're talking 330 00:18:11,480 --> 00:18:15,159 Speaker 1: about the credentials of one person, you know, versus another, 331 00:18:15,320 --> 00:18:17,560 Speaker 1: whether their true partisan or not, that's not something I 332 00:18:17,640 --> 00:18:19,960 Speaker 1: think is really going to penetrate. On the other hand, 333 00:18:20,080 --> 00:18:23,280 Speaker 1: I am willing to concede that in the grand pantheon 334 00:18:23,840 --> 00:18:27,320 Speaker 1: of appointees that you know, this president is used to making, 335 00:18:27,720 --> 00:18:30,080 Speaker 1: you know, at least these two aren't wildly out of 336 00:18:30,119 --> 00:18:32,560 Speaker 1: the box. I'm old enough to remember when Larry Summers 337 00:18:32,720 --> 00:18:35,439 Speaker 1: was too outspoken to be Chairman of the Federal Reserve 338 00:18:35,760 --> 00:18:40,080 Speaker 1: and Senator Elizabeth Warre and tanked his his chances because 339 00:18:40,080 --> 00:18:43,000 Speaker 1: he was too I mean five million cycles. Again, that 340 00:18:43,200 --> 00:18:46,840 Speaker 1: was like but but but in terms of where this goes, 341 00:18:46,920 --> 00:18:48,720 Speaker 1: I mean, we can have there is a debate happening 342 00:18:48,760 --> 00:18:51,000 Speaker 1: on Wall Street right now about whether or not there's 343 00:18:51,040 --> 00:18:53,359 Speaker 1: going to be your recession in the next couple of years. 344 00:18:54,359 --> 00:18:58,080 Speaker 1: No one wants a recession, but should there be one? Uh? 345 00:18:58,200 --> 00:19:03,200 Speaker 1: The President has set himself up well to blame Chairman 346 00:19:03,240 --> 00:19:07,400 Speaker 1: Powell as contributing to a recession, and now he has 347 00:19:07,560 --> 00:19:13,240 Speaker 1: to put I will say, vocal uh, potentially vocal board 348 00:19:13,280 --> 00:19:16,560 Speaker 1: members of the Central Bank to echo his criticisms. No, 349 00:19:17,000 --> 00:19:19,600 Speaker 1: I think that's true. M His tweets have been not 350 00:19:20,040 --> 00:19:22,960 Speaker 1: pulling any punches the presidents over the last few days 351 00:19:23,040 --> 00:19:26,160 Speaker 1: on this topic. And and and but but but again, 352 00:19:26,240 --> 00:19:28,440 Speaker 1: you know, we're talking about one guy who's out of 353 00:19:28,440 --> 00:19:31,720 Speaker 1: the Reagan Revolution and then another who's from that Jack 354 00:19:31,800 --> 00:19:33,720 Speaker 1: camp conservative, which is, you know, kind of where I 355 00:19:33,800 --> 00:19:36,159 Speaker 1: come from in the party. And and and you know, 356 00:19:36,280 --> 00:19:38,760 Speaker 1: these are these are solid, They're they're gonna be resident 357 00:19:38,840 --> 00:19:40,800 Speaker 1: with the base. Let's put it that way, all right, 358 00:19:40,840 --> 00:19:44,080 Speaker 1: We're gonna leave there. Coming up, we talked about presidential cycle, 359 00:19:44,119 --> 00:19:47,480 Speaker 1: plus what Jamie Diamond has to say about that feud. 360 00:19:47,560 --> 00:19:50,760 Speaker 1: Remember this feud that Jamie Diamond had with President Trump. 361 00:19:51,160 --> 00:19:53,440 Speaker 1: I'll get to the latest on that panel stays. You 362 00:19:53,520 --> 00:19:57,119 Speaker 1: can download the Sound On podcast on Apple iTunes, at 363 00:19:57,119 --> 00:20:00,800 Speaker 1: bloombird dot com, or by downloading the bloom Business app. 364 00:20:01,000 --> 00:20:03,200 Speaker 1: You can also find us on Radio dot com and 365 00:20:03,320 --> 00:20:06,720 Speaker 1: I Heart Radio. I'm Kevin Cirelli. You're listening to Bloomberg 366 00:20:12,200 --> 00:20:17,920 Speaker 1: is sound on with Kevin's related on Bloomberg and seven 367 00:20:18,200 --> 00:20:24,959 Speaker 1: m h D two Baltimore Elon Musk, uh Well Elon 368 00:20:25,119 --> 00:20:28,800 Speaker 1: Musk telling or U S. District Judge Allison Nathan telegraphed 369 00:20:28,840 --> 00:20:32,760 Speaker 1: that her initial thoughts as the SEC and Elon Musk's 370 00:20:32,840 --> 00:20:37,560 Speaker 1: lawyers presented their arguments over whether the Tesla Ink CEO 371 00:20:37,680 --> 00:20:40,920 Speaker 1: should be held in contempt for tweets, saying that it 372 00:20:41,080 --> 00:20:44,840 Speaker 1: might have violated an earlier agreement. I'm Bloomberg News Chief 373 00:20:44,880 --> 00:20:48,959 Speaker 1: Washington correspondent, Kevin Cirelli, Chief Washington correspondent for Bloomberg Television 374 00:20:49,000 --> 00:20:52,560 Speaker 1: and Bloomberg Radio. Uh I want to read now from 375 00:20:52,680 --> 00:20:56,920 Speaker 1: what Musk's lawyer said Thursday in Manhattan Federal Court. What 376 00:20:57,119 --> 00:20:59,680 Speaker 1: the SEC should have done was approaching good faith and 377 00:20:59,720 --> 00:21:03,240 Speaker 1: try to work things out. The judge replied, my intent 378 00:21:03,480 --> 00:21:06,720 Speaker 1: is not only to invite it, but to order it. 379 00:21:07,000 --> 00:21:10,520 Speaker 1: So the back and forth for Elon Musk is going on. 380 00:21:10,600 --> 00:21:13,119 Speaker 1: Remember all of those suites that he did against we remember, 381 00:21:13,200 --> 00:21:16,000 Speaker 1: like the whole SEC scandal. We'll keep a close tab 382 00:21:16,200 --> 00:21:18,399 Speaker 1: on that. There's been major developments with the U S 383 00:21:18,480 --> 00:21:21,679 Speaker 1: and China. President Trump within the last two hours saying 384 00:21:21,960 --> 00:21:24,600 Speaker 1: at the White House that they are nearing a deal 385 00:21:25,200 --> 00:21:28,360 Speaker 1: with the Chinese and that when he announces such a deal, 386 00:21:28,800 --> 00:21:32,320 Speaker 1: that meeting with Chinese President shi Jing Ping will ultimately 387 00:21:32,440 --> 00:21:35,560 Speaker 1: come to fruition. It could come as early as the 388 00:21:35,640 --> 00:21:38,440 Speaker 1: next couple of weeks, four weeks or so. It comes 389 00:21:38,480 --> 00:21:42,080 Speaker 1: following intense trade talks between the U. S and China 390 00:21:42,240 --> 00:21:45,120 Speaker 1: that we're based here in Washington this week with Chinese 391 00:21:45,520 --> 00:21:49,000 Speaker 1: Vice from Premier Leo Hua, who met with President Trump 392 00:21:49,520 --> 00:21:54,480 Speaker 1: earlier this afternoon, and with US Trade Representative Bob Leightheizer 393 00:21:54,560 --> 00:21:58,240 Speaker 1: and Treasury Secretary Stephen Venusian. It's coming down to enforcement mechanisms. 394 00:21:58,560 --> 00:22:01,359 Speaker 1: It's coming down to how all the US will be 395 00:22:01,400 --> 00:22:05,560 Speaker 1: able to ensure that China follows through on their end 396 00:22:05,640 --> 00:22:09,000 Speaker 1: of the deal. The Chinese. According to our very own 397 00:22:09,000 --> 00:22:14,119 Speaker 1: Bloomberg reporting, suggesting that they might make additional purchases on 398 00:22:14,520 --> 00:22:18,480 Speaker 1: commodities as well as allow for the US to make 399 00:22:18,560 --> 00:22:22,840 Speaker 1: purchases on Chinese firms. That will be interesting. The President 400 00:22:22,880 --> 00:22:25,360 Speaker 1: is saying that he might have to keep some tariffs 401 00:22:25,440 --> 00:22:29,160 Speaker 1: in place in the immediate short term to make sure 402 00:22:29,280 --> 00:22:33,760 Speaker 1: that China follows through on their side of the bargain. 403 00:22:34,680 --> 00:22:37,520 Speaker 1: Jennifer Holdsworth is a Democratic strategist. She's with us for 404 00:22:37,720 --> 00:22:40,560 Speaker 1: the Our Friend of the Program and her meat Dylan, 405 00:22:41,040 --> 00:22:43,560 Speaker 1: fresh off the plane from the West Coast, joining us 406 00:22:43,680 --> 00:22:46,440 Speaker 1: live here in studio. She's an r NC committee woman 407 00:22:46,800 --> 00:22:51,440 Speaker 1: for California, a civil rights attorney, and a board member 408 00:22:51,520 --> 00:22:56,200 Speaker 1: of the Republican National Lawyers Association. Did you guys catch 409 00:22:56,280 --> 00:22:59,120 Speaker 1: what happened with Jamie Diamond today? I mean, you can't 410 00:22:59,200 --> 00:23:03,440 Speaker 1: make this up because remember back in last September when 411 00:23:03,560 --> 00:23:08,200 Speaker 1: Jamie died at JP Morgan Chase CEO. Jamie Diamond he 412 00:23:08,760 --> 00:23:12,840 Speaker 1: got a bit of a tiff with President Trump. He 413 00:23:13,040 --> 00:23:17,440 Speaker 1: said last September that he could beat President Trump if 414 00:23:17,520 --> 00:23:20,440 Speaker 1: he were to run for president. I mean, I take 415 00:23:20,480 --> 00:23:23,000 Speaker 1: it you would disagree with that. Yeah, that's a that's 416 00:23:23,119 --> 00:23:25,959 Speaker 1: a that's a joke. Um, no way, But I mean 417 00:23:26,000 --> 00:23:28,120 Speaker 1: interesting it seems to have come around today a bit 418 00:23:28,160 --> 00:23:32,239 Speaker 1: to the President's. It was. It was pretty remarkable. I mean, 419 00:23:32,320 --> 00:23:35,240 Speaker 1: I don't even think Senator you know, Jennifer Holdsworth. I 420 00:23:35,320 --> 00:23:39,320 Speaker 1: think Senator Elizabeth Warren might even agree with President Trump 421 00:23:39,400 --> 00:23:42,240 Speaker 1: that Jamie Dinmond. But who knows Jamie diamonds tough. I 422 00:23:42,280 --> 00:23:44,359 Speaker 1: want to play for you what Jamie Diamond told ABC 423 00:23:44,520 --> 00:23:48,119 Speaker 1: News about that tiff that he found himself in with 424 00:23:48,359 --> 00:23:52,639 Speaker 1: President Trump. Here's Jamie Dinmond. I shouldn't have said it. Uh, 425 00:23:53,040 --> 00:23:56,280 Speaker 1: And I'm more out of frustration and my own machismo, 426 00:23:56,400 --> 00:23:58,800 Speaker 1: but I shouldn't have said it. And so, um it 427 00:23:58,840 --> 00:24:01,640 Speaker 1: also proved I wouldn't be a good So you're you're 428 00:24:01,680 --> 00:24:05,960 Speaker 1: done with politics? No running for president for you ever. 429 00:24:06,840 --> 00:24:10,280 Speaker 1: I never say never do anything. But no, it sounds like, 430 00:24:10,359 --> 00:24:12,240 Speaker 1: you know, I mean, Jamie Dimon's got its tanciful with 431 00:24:12,240 --> 00:24:16,160 Speaker 1: the Business Roundtable and a host of different other efforts. 432 00:24:16,560 --> 00:24:20,359 Speaker 1: But but I don't know, Jennifer. I mean he's backing off. Okay, 433 00:24:21,080 --> 00:24:24,040 Speaker 1: I mean you know, I, um, it would have been 434 00:24:24,119 --> 00:24:27,000 Speaker 1: interesting to watch, I'll put it that way. But um, 435 00:24:27,280 --> 00:24:30,040 Speaker 1: I don't think, at least from my perspective and from 436 00:24:30,080 --> 00:24:33,920 Speaker 1: the Democratic Party's perspective, Um, there there was anything to 437 00:24:34,040 --> 00:24:37,399 Speaker 1: gain or lose by him challenging the president. Um, you know, 438 00:24:37,560 --> 00:24:40,399 Speaker 1: I think that it would have been um, you know, 439 00:24:40,760 --> 00:24:43,480 Speaker 1: I think that maybe we would have looked at him 440 00:24:43,480 --> 00:24:44,960 Speaker 1: and said, oh, you know what, maybe he has some 441 00:24:45,040 --> 00:24:47,280 Speaker 1: of the same policies as the president, but you know, 442 00:24:47,320 --> 00:24:49,720 Speaker 1: there'd be a decorum there that we could respect. Or 443 00:24:50,080 --> 00:24:53,800 Speaker 1: but look, we've had a lot of disagreements with Jamie Diamonds, 444 00:24:53,840 --> 00:24:56,040 Speaker 1: so you know, I don't think that it would have 445 00:24:56,080 --> 00:24:58,639 Speaker 1: brought anything at least to my side. But you know, 446 00:24:59,119 --> 00:25:02,680 Speaker 1: there's there's so much going on in terms of twenty 447 00:25:02,800 --> 00:25:05,080 Speaker 1: right now that um, taking one piece out of it 448 00:25:05,240 --> 00:25:06,879 Speaker 1: is fined by me. Jimmy Dunn has done a lot 449 00:25:06,920 --> 00:25:09,920 Speaker 1: for apprenticeship programs, I will say that. But in terms 450 00:25:10,119 --> 00:25:13,200 Speaker 1: of the crowded democratic field, harmat Dylan, who gives you 451 00:25:13,280 --> 00:25:17,960 Speaker 1: the most pause? Um, I mean, it's hard to see them. 452 00:25:18,040 --> 00:25:20,960 Speaker 1: There's so many of them. But I think this week, 453 00:25:21,000 --> 00:25:22,560 Speaker 1: I think you a flavor of the week. But a 454 00:25:22,680 --> 00:25:25,480 Speaker 1: judge has certainly been somebody who's uh, you know, been 455 00:25:25,560 --> 00:25:28,480 Speaker 1: impressive and his rhetoric and he's more moderate in some ways. 456 00:25:28,520 --> 00:25:30,520 Speaker 1: But you know, we've had this conference in New York 457 00:25:30,560 --> 00:25:32,399 Speaker 1: going on right now, and they're all all of the 458 00:25:32,480 --> 00:25:34,840 Speaker 1: ones who are trying to moderate themselves, Beto and others 459 00:25:34,880 --> 00:25:37,320 Speaker 1: on reparations are all backing off of that and going 460 00:25:37,480 --> 00:25:41,320 Speaker 1: full race hustler with this whole situation. And so I 461 00:25:41,359 --> 00:25:43,400 Speaker 1: don't I don't know whether any of them can distinguish. 462 00:25:43,520 --> 00:25:45,439 Speaker 1: They're all running so far to the left that's going 463 00:25:45,480 --> 00:25:47,960 Speaker 1: to hurt them so much in the general election that 464 00:25:48,080 --> 00:25:50,159 Speaker 1: that's what I'm seeing as a Republican Well, with the 465 00:25:50,320 --> 00:25:54,600 Speaker 1: exception of Senator Sanders Senator Warren, you sort of that 466 00:25:54,920 --> 00:25:57,600 Speaker 1: you know what they stand for in terms of their 467 00:25:57,640 --> 00:25:59,639 Speaker 1: ideas that they're putting out. You might disagree with those ideas, 468 00:25:59,680 --> 00:26:02,760 Speaker 1: but you know sort of what what their what their 469 00:26:02,800 --> 00:26:06,719 Speaker 1: positions are with with someone like Mayor Pete Buddha Jedge uh, 470 00:26:07,000 --> 00:26:10,960 Speaker 1: the Fort Bend, Indiana mayor, the anti Vice president Mike Pence, 471 00:26:11,040 --> 00:26:14,040 Speaker 1: is you know, as they're calling him, uh, I don't 472 00:26:14,080 --> 00:26:16,560 Speaker 1: know what his ideas are. I don't know his economic record. 473 00:26:16,840 --> 00:26:19,359 Speaker 1: Like the jury still out for for a host of 474 00:26:19,440 --> 00:26:21,960 Speaker 1: voters on on all of them. Jennifer Holdsworth, how do 475 00:26:22,320 --> 00:26:24,959 Speaker 1: the different candidates kind of do they do they need 476 00:26:25,040 --> 00:26:27,560 Speaker 1: to be known for a certain thing or is it 477 00:26:27,680 --> 00:26:30,200 Speaker 1: just going to be a personality contest. I think that 478 00:26:30,320 --> 00:26:32,679 Speaker 1: some of it is a matter of degrees. Like you mentioned, 479 00:26:32,760 --> 00:26:36,359 Speaker 1: Mayor Pete Um, he came into this race attempting to 480 00:26:36,480 --> 00:26:39,440 Speaker 1: change the language that Democrats have been using when it 481 00:26:39,520 --> 00:26:42,360 Speaker 1: comes to election over the last elections, over the last 482 00:26:42,440 --> 00:26:48,280 Speaker 1: twenty years. So he's talking about broader themes such as freedom, democracy, security, 483 00:26:48,760 --> 00:26:51,480 Speaker 1: things that the Democratic Party feels that the Republican Party 484 00:26:51,520 --> 00:26:55,719 Speaker 1: has co opted in the last couple of elections. So, right, 485 00:26:55,760 --> 00:26:57,640 Speaker 1: he's a better and so, but when he talks about 486 00:26:57,720 --> 00:27:00,800 Speaker 1: terms like freedom, right, he's talking about, you know, freedom 487 00:27:00,880 --> 00:27:03,680 Speaker 1: from student loan debt, He's talking about freedom to be 488 00:27:03,760 --> 00:27:05,760 Speaker 1: able to love who you marry, free to make your 489 00:27:05,760 --> 00:27:09,280 Speaker 1: own medical decisions. Right, So he's trying to change language, 490 00:27:09,359 --> 00:27:11,440 Speaker 1: which I think kind of sets him apart from the pack. 491 00:27:11,760 --> 00:27:15,480 Speaker 1: But in terms of actual policy prescriptions between all of them, 492 00:27:15,760 --> 00:27:18,280 Speaker 1: it's a matter of degrees. For two reasons. A lot 493 00:27:18,400 --> 00:27:22,159 Speaker 1: of these policies are what is going to attract a 494 00:27:22,359 --> 00:27:25,920 Speaker 1: lot of new voters to the electorate in UM, A 495 00:27:26,040 --> 00:27:30,040 Speaker 1: lot of them are very sound policy prescriptions. Now me personally, 496 00:27:30,359 --> 00:27:32,680 Speaker 1: I'll put it out there. I do not agree with 497 00:27:32,800 --> 00:27:35,520 Speaker 1: the Green New Deal framework, but there is a wide 498 00:27:35,560 --> 00:27:39,200 Speaker 1: swath of the of the country that is waking up 499 00:27:39,359 --> 00:27:42,000 Speaker 1: to that type of issue and agreeing with it in 500 00:27:42,200 --> 00:27:45,879 Speaker 1: terms of not just climate change but economic justice. So 501 00:27:46,160 --> 00:27:48,920 Speaker 1: you've you've got a lot of different thought leadership being 502 00:27:49,040 --> 00:27:53,040 Speaker 1: put out by right now that I think that you're 503 00:27:53,040 --> 00:27:54,760 Speaker 1: going to see a lot of them agree with because 504 00:27:54,760 --> 00:27:58,040 Speaker 1: they're good ideas well. I agree that there are a 505 00:27:58,119 --> 00:28:00,600 Speaker 1: lot of interesting ideas, but I think at the macro 506 00:28:00,840 --> 00:28:03,000 Speaker 1: issue here is that the Democrats have set the stage 507 00:28:03,080 --> 00:28:06,600 Speaker 1: here such that all of these nice words and concepts 508 00:28:06,640 --> 00:28:10,720 Speaker 1: and themes and best laid plans are being laid laid 509 00:28:10,880 --> 00:28:16,879 Speaker 1: havoc because of the politics of racial um spoils uh, 510 00:28:17,000 --> 00:28:19,600 Speaker 1: this Green New Deal, the hijacking of all this messaging 511 00:28:19,680 --> 00:28:21,800 Speaker 1: by the very far left. I mean, like back to 512 00:28:21,880 --> 00:28:25,000 Speaker 1: Mayor Pete, he was against reparations last week. Now he's 513 00:28:25,000 --> 00:28:26,560 Speaker 1: all in favor of it because he has to be 514 00:28:26,680 --> 00:28:29,119 Speaker 1: because everybody else is. And you know, you see all 515 00:28:29,200 --> 00:28:30,880 Speaker 1: of this race to the left. So I think it's 516 00:28:30,960 --> 00:28:33,359 Speaker 1: very unfortunate because it would be great actually as a 517 00:28:33,440 --> 00:28:36,200 Speaker 1: citizen to see a debate on these issues. I feel 518 00:28:36,200 --> 00:28:38,680 Speaker 1: like I want to see that because they're all agreeing 519 00:28:38,720 --> 00:28:41,280 Speaker 1: with each other on some of these issues because they 520 00:28:41,360 --> 00:28:44,200 Speaker 1: have to pay right now. Yeah, I mean, yes, yes, 521 00:28:44,280 --> 00:28:46,440 Speaker 1: they're all playing nice. There's no reason not to right now. 522 00:28:46,600 --> 00:28:48,600 Speaker 1: But you know, when we talk about race now, I 523 00:28:48,680 --> 00:28:50,360 Speaker 1: mean we're on the radio, so you can't see me. 524 00:28:50,560 --> 00:28:53,800 Speaker 1: I'm I'm a Caucasian female, right, But you know, when 525 00:28:53,880 --> 00:28:56,040 Speaker 1: I talk about it, I'm not talking about you know, 526 00:28:56,600 --> 00:28:58,760 Speaker 1: race in terms of you know what you can get it. 527 00:28:58,960 --> 00:29:01,240 Speaker 1: This is a conversation about civil rights. So when you 528 00:29:01,320 --> 00:29:04,120 Speaker 1: say that, you know, Mayor Pete was against reparations. He 529 00:29:04,240 --> 00:29:06,720 Speaker 1: was never against reparations. What he wanted to do was 530 00:29:06,840 --> 00:29:09,440 Speaker 1: have a conversation about how we talk about it in 531 00:29:09,680 --> 00:29:14,840 Speaker 1: terms of criminal justice reform economics. Um, So to agree 532 00:29:15,120 --> 00:29:19,960 Speaker 1: to you know, study how we talk about reparations is 533 00:29:20,080 --> 00:29:22,600 Speaker 1: different from flip flow. That's a lot of naval gazing, 534 00:29:22,640 --> 00:29:24,800 Speaker 1: in my opinion. I mean, in reality, our president has 535 00:29:24,800 --> 00:29:27,400 Speaker 1: actually been the first one to institute criminal justice reform 536 00:29:27,480 --> 00:29:30,280 Speaker 1: in generations, and so that's actually helping minority communities while 537 00:29:30,320 --> 00:29:33,840 Speaker 1: others are simply talking about it. And so I think that, um, 538 00:29:34,160 --> 00:29:36,080 Speaker 1: you know, unfortunately, this rhetoric on the left has really 539 00:29:36,120 --> 00:29:39,120 Speaker 1: been hijacked by by this sort of you know demands. 540 00:29:39,360 --> 00:29:41,440 Speaker 1: We gotta leave it there. I'm sorry, I can't give it. 541 00:29:41,440 --> 00:29:43,560 Speaker 1: I can't give anyone last word, but we're up against 542 00:29:43,560 --> 00:29:46,160 Speaker 1: the clock has the last word. My thank to Harveat 543 00:29:46,240 --> 00:29:48,640 Speaker 1: Dylan uh for her first time on the program, and 544 00:29:48,720 --> 00:29:50,960 Speaker 1: of course to Jennifer Holdsworth. That does it for me. 545 00:29:51,080 --> 00:29:53,520 Speaker 1: I'm Kevin CURRELLI you're listening to Bloomberg.