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Speaker 1: Why from our nations this budget thing is going to

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Speaker 1: do nothing space forts. I still think it's interesting President

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Speaker 1: Trump not playing his cards yet headlines Policy and Politics

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Speaker 1: colliding sound on with Kevin's related The Insiders, the influencers,

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Speaker 1: the insides. I would rather see a congressional solution. It's

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Speaker 1: part of my DNA. The Senate map in looks a

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Speaker 1: lot different than it looked in. You really have a

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Speaker 1: divide within Team Trump. The President has to do exactly

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Speaker 1: what people send him here to do, which is to

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Speaker 1: get it done. He's sound on with Kevin's related on

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Speaker 1: Bloomberg one and one oh seven m h D two Baltimore.

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Speaker 1: No tariffs for Mexico yet. President Trump says that he's

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Speaker 1: going to give Mexico more time before he decides whether

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Speaker 1: or not to raise terrorists. But now we're talking about China.

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Speaker 1: President Trump also saying that he will raise Chinese tariffs

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Speaker 1: again if President she Jing Ping of China won't meet

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Speaker 1: at the G twenty. We've since learned that President she

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Speaker 1: is still anticipated to attend the G twenty plus. The

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Speaker 1: US also weighing more sanctions over Iran, potentially over trade

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Speaker 1: with the Europeans. But first before we get to all

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Speaker 1: of that, a very special guest, the first time she's

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Speaker 1: appeared on television or radio, the Director of the Consumer

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Speaker 1: Financial Protection Bureau, Kathy Cranninger is here in studio in Washington,

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Speaker 1: d C. We're gonna bring you that exclusive interview. What

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Speaker 1: a really weird, weathered day it was raining, It's not raining,

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Speaker 1: it's Monday, folks, and we're gonna talk all things about

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Speaker 1: the hot and cold trade policy and the signals coming

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Speaker 1: out of the White House and what folks up on

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Speaker 1: Capitol Hill have to say about that. But before we

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Speaker 1: get to that, we have a very special guest, the

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Speaker 1: Director of the Consumer Financial Protection Bureau, Kathy Craninger. She

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Speaker 1: is here in studio with us, the CFPB director, and

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Speaker 1: and look, I think most people direct. First of all,

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Speaker 1: thank you for being here. Now, thank you for having me. Now,

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Speaker 1: I remember covering the inception of the CFB when Senator

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Speaker 1: Elizabeth Warren really created this thing back when she was

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Speaker 1: a Harvard law professor. Not candidly, you and her have

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Speaker 1: very different ideological bends on on the cfp B. But

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Speaker 1: what exactly does the cfp B do? And is the

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Speaker 1: goal of this government agency? So, Kevin, it is precisely

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Speaker 1: to protect consumers in the financial marketplace for products and

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Speaker 1: services that are financially related. And it is created was

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Speaker 1: created in the wake of the financial crisis, and that's

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Speaker 1: really formative in terms of what its responsibilities are and

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Speaker 1: where it where it goes. But but frankly, it's there

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Speaker 1: to look out for consumers and a few different tools

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Speaker 1: that we have that Congress gave us to carry that out.

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Speaker 1: Education being first and foremost so getting involved in financial education,

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Speaker 1: really supporting consumers so they have the information they need

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Speaker 1: to make the best decisions for themselves. Uh. That's that's

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Speaker 1: job one. Uh. And then regulation, we certainly do create

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Speaker 1: clear rules the road for financial institutions and those that

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Speaker 1: are offering services and products. Supervision of those institutions so

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Speaker 1: that we're examining them to make sure they're complying with

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Speaker 1: the law, and then enforcement really taking action against those

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Speaker 1: bad actors in the marketplace who are seeking to take

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Speaker 1: advantage of consumers. On I remember when I covered previous

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Speaker 1: House Financial Services Committee chairman Job hunter Ling and he

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Speaker 1: he dubbed the CFPB the rogue regulator, the rogue regulator.

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Speaker 1: How have you tried to change the perception amongst the

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Speaker 1: business community and your first you've only been there for

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Speaker 1: six months, but in your six months there, how have

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Speaker 1: you tried to to to signal to the business community

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Speaker 1: that you want you want to let them in on

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Speaker 1: the process of these rules. It really starts with proactive

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Speaker 1: dialogue and transparency. And that's frankly, not just for the

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Speaker 1: business community, but for consumer advocates as well, the public educators.

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Speaker 1: We have so many stakeholders that care about what the

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Speaker 1: Bureau does, and my focus has really been on that

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Speaker 1: process and making sure that we are open to feedback,

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Speaker 1: that we are actually out there and soliciting that input,

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Speaker 1: demonstrating that we're making adjustments based on the experiences of

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Speaker 1: consumers in the marketplace and businesses that are offering those services.

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Speaker 1: Kathy Craininger, she is the director of the Consumer Financial

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Speaker 1: Protection Bureau. She's joining us in studio here in Washington

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Speaker 1: for an exclusive interview Dodd Frank. The two thousand and

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Speaker 1: Ted Dodd Frank Law, it actually mandates that the CFPB,

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Speaker 1: this Consumer Financial Protection Bureau, will define what exactly abusive

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Speaker 1: practices are. Personally, I think if you're getting abused by

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Speaker 1: a financial institution or or or a business is taking

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Speaker 1: advantage of a consumer. You know what the definition is,

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Speaker 1: but I guess the lawyers need a definition. So how

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Speaker 1: are you going to help define what abusive practices are

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Speaker 1: that impacts a lot of businesses? Now, you're absolutely right.

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Speaker 1: So we do have a responsibility to take action against unfair,

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Speaker 1: abusive and deceptive practices and acts in the marketplace. And

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Speaker 1: the word abuse of it is kind of a new

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Speaker 1: one in the statutory context, and so there is some

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Speaker 1: interest on the business front to make sure that we

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Speaker 1: are clear on what that actually means. So we are

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Speaker 1: taking again in that UH, really push for productive and

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Speaker 1: proactive dialogue, a symposia series. We're gonna bring in experts

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Speaker 1: who are going to talk about this. We're gonna live

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Speaker 1: stream the event. It's gonna be on June, and we're

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Speaker 1: really going to get their perspectives on how we better

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Speaker 1: define this or frankly, if it really needs regulatory definition,

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Speaker 1: and then we'll take the right actions from there based

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Speaker 1: on the comments and feedback we get and the input

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Speaker 1: from those experts. So in Senator Elizabeth Warren and Democrats

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Speaker 1: say you want to weaken the agency, you say that

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Speaker 1: is absolutely not the case. I think it's unfortunate, frankly,

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Speaker 1: with the history of this agency that it turned into

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Speaker 1: a bit of a ping pow. It's a political pinata, yes,

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Speaker 1: and that really is unfortunate, because we all care about

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Speaker 1: protecting consumers. We all care about fair, competitive and transparent marketplaces,

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Speaker 1: and we want to frankly put forth the right rules

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Speaker 1: to set off the economy in the right direction and

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Speaker 1: and really do our part in that space. And so

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Speaker 1: that's what I'm focused on. So the Trump administration doesn't

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Speaker 1: want to shut down and you don't want to shut

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Speaker 1: down the CFPB. Congress gave me a job to do,

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Speaker 1: and I am doing that job. And if they want

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Speaker 1: to make changes to the structure or other things about

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Speaker 1: the agency, I will certainly carry that out as well

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Speaker 1: if those get enacted. We were talking about this in

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Speaker 1: the break in between the Bloomberg TV segment and now

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Speaker 1: this but about financial literacy and about the work that

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Speaker 1: you're doing for financial literacy for veterans, for service members,

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Speaker 1: for their families, and also for UH for young people

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Speaker 1: as well. Tell me about the financial literacy aspects of

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Speaker 1: the CFPP. No, it's a it's a fantastic part of

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Speaker 1: our mission. We really look very carefully at all of

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Speaker 1: the different populations. Congress gave us a focus on older

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Speaker 1: Americans to a lot of issues with elder abuse and

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Speaker 1: fraud there for service members, their families of veterans, vulnerable populations, students.

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Speaker 1: So we really do have a focus area on a

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Speaker 1: lot of different populations and what their education needs are,

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Speaker 1: what we see in the marketplace, and we provide a

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Speaker 1: lot of different products in terms of educational products to

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Speaker 1: meet those needs. And you've done tell me you were

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Speaker 1: just and I believe it was Texas who were down

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Speaker 1: in Texas for veterans. Yes, yes, had a fantastic event.

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Speaker 1: Actually got some barbecue. I did get some get some

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Speaker 1: barbecue that yet, that's essential. But we had a fantastic

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Speaker 1: visit to joint based in Antonio, had family members active

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Speaker 1: duty service members there and we were launching what we

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Speaker 1: call Misadventures and Money Management. So it's actually a game

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Speaker 1: to help service members walk through financial decisions. They choose

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Speaker 1: their own adventure and see what the outcome is and frankly,

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Speaker 1: doing that via the game and via the video rather

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Speaker 1: than in real life helps them understand what the implications

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Speaker 1: are the decisions they're making. We talk about you know,

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Speaker 1: being physically fit, we gotta be fiscally fit as well.

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Speaker 1: My very special thanks to Kathy craning Er. She is

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Speaker 1: the CFPB director, the director of the Consumer Financial Protection Bureau.

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Speaker 1: Thank you for hanging out with Bloomberg this afternoon. Appreciate

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Speaker 1: the time. Thank you so much for having me and

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Speaker 1: coming up more fallout for the Trump administration and Democrats.

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Speaker 1: We talk all things, all things politics and policy, the

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Speaker 1: latest on the tariff front. We've got Eli Yokeley, political

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Speaker 1: reporter for the morning consult and Mark Ross, founder of

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Speaker 1: Charical Global. They will break it down for us. You

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Speaker 1: can download the Sound on podcast on Apple iTunes, at

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Speaker 1: Bloomberg dot com, or by downloading the Bloomberg Business app.

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Speaker 1: You can also find us on Radio dot com, I

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Speaker 1: Heart Radio and Spotify. I'm Kevin CURRELLI we're kick starting

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Speaker 1: another week and you're listening to Bloomberg. You're listening to

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Speaker 1: Sound Dawn with Keivins to relate on Bloomberg one and

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Speaker 1: one oh five point seven f m h D two Baltimore,

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Speaker 1: from government regulations to geo politics. Fascinating conversation with CFPB

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Speaker 1: director Kathy Craninger, her first television and radio interviews she's

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Speaker 1: the director of the CFPB, and I gotta be honest.

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Speaker 1: I mean she takes it from the left, from the right.

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Speaker 1: I mean everyone's constantly going after there's government regulations. Appreciate

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Speaker 1: her time. And now I want to pivot though, back

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Speaker 1: to geopolitics and trade policy. We've got Eli Yoakley and

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Speaker 1: Mark Ross to help navigate through this. They were so

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Speaker 1: good the last time when I was in Philadelphia holding

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Speaker 1: down the fort here in Washington that I said, I gotta,

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Speaker 1: I gotta get it on the fund. Eli is a

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Speaker 1: political reporter from Morgan Consult. Mark Ross, of course as

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Speaker 1: the founder of Terrical Global. Mark, I'll take it from you.

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Speaker 1: Because President Trump he called in I love the Trump

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Speaker 1: Calling interviews, by the way, to our competitors c NBC,

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Speaker 1: good interview. You gotta give him credit about the his

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Speaker 1: decision to delay the tariffs against Mexico. Here's the President

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Speaker 1: of the United States on his decision. This is something

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Speaker 1: the US has been trying to get for over twenty

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Speaker 1: years with Mexico. They've never been able to do it.

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Speaker 1: As soon as I put tariffs on the table, it

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Speaker 1: was it was done. It took two days. So Mark,

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Speaker 1: what exactly did we get um, Well, it depends who

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Speaker 1: you talked to. I think if you listen to the

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Speaker 1: White House. They put out a statement today they called

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Speaker 1: it historic, the deal they made with Mexico. They also

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Speaker 1: promised additional buying of goods, possibly corn, but we really

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Speaker 1: don't know. But nothing was signed. Nothing was signed. It

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Speaker 1: was a one pager that was put out late on Friday,

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Speaker 1: And all we really have is Trump's word that's something

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Speaker 1: historic happened. But and then they also said, and he

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Speaker 1: tweeted this out around the same time of the c

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Speaker 1: NBC interview or right after that, if Mexico doesn't follow

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Speaker 1: through that, He's just gonna increase the tariffs as well.

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Speaker 1: And then it actually has to go through Mexico's government

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Speaker 1: to get approval. And I'm but but I'm confused. So

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Speaker 1: that has to happen, But then Congress still has to

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Speaker 1: ratify U. S. M c A. So procedurally walked me

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Speaker 1: through the hurdles. Well, this is much more complicated than

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Speaker 1: I'm just a bill on Capitol Hell, So I think

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Speaker 1: the key thing is the Mexican government. In Trump's defense,

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Speaker 1: the Mexican government said, listen, we're gonna put forces, We're

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Speaker 1: gonna deploy our National Guard, which is a new development.

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Speaker 1: We're gonna put six thousand troops on the southern border,

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Speaker 1: and we're gonna attempt to slow down immigrants coming from

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Speaker 1: Central America. So that's positive. I think that what is

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Speaker 1: interesting behind the scenes is did Mexico basically promised something

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Speaker 1: that we are going to do? Uh? Did they uh

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Speaker 1: diplomatically find a way to play Kate Trump and did

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Speaker 1: they give him a win? Right? And I think, uh,

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Speaker 1: it doesn't really matter, you know, what the deal was, right,

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Speaker 1: It really only matters what the president things happened. And

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Speaker 1: then we do have a deal, if that makes sense,

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Speaker 1: all right. So meanwhile, eLife that wasn't enough. So now

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Speaker 1: we've got to wait for a bill to pass Mexico's government.

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Speaker 1: We still don't know what the forecast is for U

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Speaker 1: S m c A, whether or not we're gonna get

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Speaker 1: that by August. Now we're suddenly talking about US China

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Speaker 1: tariffs again. If President Shi jing Ping, who says he's

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Speaker 1: showing up to the G twenty and Osaka, Japan, but

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Speaker 1: we but like there's chatter that he might not. There

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Speaker 1: was conflicting reports in the Chinese state run media about

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Speaker 1: whether he would go, Well, here's the president on on

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Speaker 1: China talks on CNBC. Here is we don't have a deal.

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Speaker 1: raising the tariffs meeting, putting the tariffs on more than

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Speaker 1: you know, we've we've only taxed of what they send in.

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Speaker 1: They have another and that'll be taxed. I just feel

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Speaker 1: like you like, these issues are getting conflated. I mean,

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Speaker 1: it's a it's it's a it's a bilateral trade discussion,

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Speaker 1: but it's a multilateral response. Yeah, there's a lot. There's

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Speaker 1: a lot going on here. I think he sens some

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Speaker 1: what what China can do. Um. You know, this is

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Speaker 1: probably a bigger deal with What will be interesting to

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Speaker 1: They stood up pretty strongly last week against the President

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Speaker 1: Trump in ways that we haven't really seen a lot

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Speaker 1: of before, and so if that continues with China, I

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Speaker 1: think that'd be a pretty big deal. So what were

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Speaker 1: they doing with China? What pressure can Republicans put on

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Speaker 1: the president besides just going out and tweeting and talking

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Speaker 1: about it, because I mean, in the same CNBC interview,

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Speaker 1: the President completely lambasted the Chamber of Commerce as as

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Speaker 1: a warning sign the Chamber had come out against the tariffs,

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Speaker 1: and he's just saying, well, they don't understand. And last

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Speaker 1: week the President criticized Republican senators Republican senators for coming

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Speaker 1: out against him on terif So, what really feasibly can

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Speaker 1: Republicans do, Mark Ross, founder of Carrica Global, to prevent

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Speaker 1: to prevent this type of pushback? Can they do anything?

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Speaker 1: I think the situation is interesting because Mexico is one thing,

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Speaker 1: and I think that's time with immigration. I think there's

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Speaker 1: a lot of agreement on both sides of the aisle

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Speaker 1: that China has not been playing fair, that in fact,

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Speaker 1: tariffs are a good thing, that there should be pushed

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Speaker 1: back right, but the idea that these are the same

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Speaker 1: thing is not the correct approach. Now that may be

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Speaker 1: the way that President Trump is seeing them, that tariff

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Speaker 1: is now a tool that he can use to move markets,

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Speaker 1: shape foreign policy, play kate, domestic constituencies. The challenges going forward,

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Speaker 1: how do businesses react? And nowhere to plan right like?

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Speaker 1: And it's also an amazing moment American politics where the

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Speaker 1: US Chamber of commerces on the wrong side of the

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Speaker 1: Republican Party here. I mean, that's not something we've seen

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Speaker 1: for a really long time, and on the wrong side

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Speaker 1: of the president. Yeah. Well, necessarily the Republican Party is

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Speaker 1: you know, better than anyone on Republicans on Capital Hill

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Speaker 1: are still on the side of the Chamber. But Republican voters,

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Speaker 1: as we know Morning Consulate, followed Trump pretty closely and

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Speaker 1: where he goes they usually follow. And even on these

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Speaker 1: trade issues, we've seen Republican voters across the country been

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Speaker 1: pretty supportive. Coming up, we're gonna talk more policy and politics,

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Speaker 1: plus the freshest headlines off of the Bloomberg terminal. Alex

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Speaker 1: Wayne just stumbled in to the sound on studios. He's

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Speaker 1: the White House editor for Bloomberg News. Eli Yokley stays,

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Speaker 1: Mark Ross stays, I'm Kevin Cirelli and I'll stick around

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Speaker 1: to You can download the sound on podcast on Apple iTunes,

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Speaker 1: at Bloomberg dot com, or by downloading the Bloomberg Business app.

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Speaker 1: You can also find us on Radio dot com, I

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Speaker 1: Heart Radio, and Spotify. You're listening to Bloomberg one. This

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Speaker 1: is Sound On with Kevin Cirelli on Bloomberg one and

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Speaker 1: one oh seven m h D two Botimore. I'm Kevin Cirelli,

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Speaker 1: Chief Washington correspondent for Bloomberg Television and Bloomberg Radio. I

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Speaker 1: am joint to talk all things politics and policy. By

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Speaker 1: Eli Yokley. He's a political reporter for Morning Consult. Mark Fross,

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Speaker 1: founder of Terrile Global, which specializes in the intersection of

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Speaker 1: globalization as well as politics from around the world. And

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Speaker 1: alex Wayne. Alex Wayne is Bloomberg News White House team leader.

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Speaker 1: He oversees all of the White House coverage here in

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Speaker 1: our Washington bureau. Alex I the headlines are crossing the

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Speaker 1: Bloomberg terminal as we speak. President Trump had a lot

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Speaker 1: to say about impeachment calls from Democrats. John Dene remember him,

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Speaker 1: John Dene. He was up on Capitol Hill earlier today

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Speaker 1: testifying before the House Judiciary Committee. He, of course, is

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Speaker 1: the former White House counsel, the Nixon Nixon, the you know,

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Speaker 1: the president of ipeached. So President Trump, you can't make

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Speaker 1: it up. Go ahead, but what I want to read

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Speaker 1: it and I'm not going to do the impersonation everyone

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Speaker 1: as a Trump person. President Trump told reporters at the

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Speaker 1: White House after the Dean testimony, quote he left, I

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Speaker 1: don't leave. This is referring to Richard Nixon. He left.

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Speaker 1: I don't leave. Big difference. I don't leave. We did

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Speaker 1: nothing wrong except create the greatest economy in the history

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Speaker 1: of our country. We did nothing wrong except rebuild our

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Speaker 1: military like nobody's ever seen before. Our Our senior reporter,

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Speaker 1: Margaret Tala remarked after after this came out, I want

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Speaker 1: to give her credit for this thought. She was like,

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Speaker 1: we we may one day in the future. Remember the

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Speaker 1: time that Donald Trump uh stood in the South lawn

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Speaker 1: of the White House and told reporters that he's nothing

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Speaker 1: like Nixon. Well, here's what he had to say about

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Speaker 1: John Deane. Here's President Trump within the last hour on

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Speaker 1: John Dean. John's been a loser for a long time.

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Speaker 1: We know that. I think he was disbarred and he

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Speaker 1: went to prison. Other than that, he's doing a great job.

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Speaker 1: Eli is John Dene a loser? I don't know. Um,

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Speaker 1: you have to ask somebody a lot more spart than

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Speaker 1: I am. Um. I think John dene could be a

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Speaker 1: problem for Trump. I mean, he said some pretty striking

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Speaker 1: quotes that can be put on TV. I mean, that's

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Speaker 1: why you saw how de Democrats trying to get Robert

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Speaker 1: Mller up on the hill, and they're still working on it,

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Speaker 1: but they've got a couple of sound bites today, so

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Speaker 1: that that that's useful. You know, John Dene made made

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Speaker 1: an interesting point in this hearing today. Democrats have gotten

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Speaker 1: a lot of flak from Republicans or even holding it

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Speaker 1: and for inviting this guy from the seventies to focus,

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Speaker 1: head back up and testify. But the important thing John

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Speaker 1: Dene said is that the Muller Report is not widely

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Speaker 1: known among the public. Not many American average American citizens

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Speaker 1: have read the thing and its entirety. Uh. Probably not

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Speaker 1: a lot of people have even read the news reporting

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Speaker 1: on it. Uh. And so what not our audience exactly

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Speaker 1: what House Democrats can do with with hearings like this

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Speaker 1: is educate the public about what's in the report. And

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Speaker 1: it's not just you know, you can't boil it down

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Speaker 1: to no clusion, no obstruction that as as the President says,

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Speaker 1: that's not an accurate summary of what the Muller Report. Says, Kevin,

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Speaker 1: this is one of the things we've done at Morning

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Speaker 1: Console every week, we track a lot of the news

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Speaker 1: events and what's breaking through, and a lot of the

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Speaker 1: Muller developments have been happening less than like a third

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Speaker 1: of voters. So they've heard a lot about these things.

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Speaker 1: What have they not been? What have they been doing?

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Speaker 1: It's all over the news. I'm not I mean our audience.

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Speaker 1: Our audience follows it though, but I mean, come on, like,

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Speaker 1: how do you not follow the news? Yeah? Well you

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Speaker 1: got a life, right. Um. One other thing that we

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Speaker 1: we found last yeah, what are you applying? Okay, appreciate, appreciate.

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Speaker 1: One of the things we found last week was like

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Speaker 1: half of voters said that the Molder thing wasn't going

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Speaker 1: to affect their vote at all next year. And so

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Speaker 1: that's a pretty good chunk of folks who don't really

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Speaker 1: care about this. So Democrats have got a lot of

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Speaker 1: work on their hands trying to get folks to be

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Speaker 1: worried about this. Mark Cross, founder of Terricle Global. You

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Speaker 1: know who's really really annoyed about today's developments Roger Stone.

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Speaker 1: You know, Roger Stone is listening to President Trump talking

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Speaker 1: about Richard Nixon saying, quote he left, I don't leave.

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Speaker 1: This is in reference to Richard Nixon and and trashing

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Speaker 1: John Deane. I mean you know that somewhere in America.

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Speaker 1: And is he in jail, right, Roger Stone, Yeah, he behind.

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Speaker 1: He's waiting. He's waiting and waiting sentencing. He's like, come on,

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Speaker 1: I wish I could. He's smiling at the mouse. Had

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Speaker 1: his trial yet, right, No, go ahead, let's go on

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Speaker 1: to trial. I believe. Yeah, I just gets very interesting strategy.

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Speaker 1: I haven't even started impeachment hearings and President Trump is

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Speaker 1: already making the case that he's not like Nixon and

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Speaker 1: he won't leave the White House. I can't imagine that

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Speaker 1: this was on the talking points for today's White House

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Speaker 1: what we're gonna talk about. Sarah Sanators handed that and

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Speaker 1: handed him that one before. I don't see. Yeah, Key

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Speaker 1: and Conway is saying, this is what we're leading with them.

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Speaker 1: He said this, by the way, at a at he

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Speaker 1: was recognizing the NASCAR champion champion. Oh, I'm sorry, you're

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Speaker 1: You're totally right, botch on at the one thing one

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Speaker 1: I do not follow sports cars. Um, but I want

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Speaker 1: to say this though, and all seriousness, I mean President Trump,

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Speaker 1: I mean make light of this to some extent, but

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Speaker 1: President Trump by saying that he's not going to leave,

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Speaker 1: Is is daring Democrats to begin impeachment, and he has

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Speaker 1: been for months and daring Democrats to say, go down

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Speaker 1: this impeachment preceding trail Speaker Pelosi, go down this piecemeal approach.

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Speaker 1: Keep talking about the notion of impeachment, because if you're

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Speaker 1: talking about impeachment to Elis points, to the pollsters points,

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Speaker 1: then you're not talking about infrastructure, you're not talking about

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Speaker 1: ways to work with Republicans. And the Republicans that I'm

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Speaker 1: talking with, they're saying that's their gamble ELI to get

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Speaker 1: to independent voters in these key states, which is put

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Speaker 1: all Democrats in the impeachment camp, to remove them from

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Speaker 1: trying to work with Republicans and say see that they're

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Speaker 1: not able to do anything. I think that's been the

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Speaker 1: play just broadly for Republicans has been sort of radicalize

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Speaker 1: the left. I mean, talk about abortion, talk about socialism,

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Speaker 1: accusing everybody being for impeachment. All these issues sort of

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Speaker 1: build on themselves, and you know, you see a number

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Speaker 1: of Democrats moving towards the impeachment talks, leaning into this,

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Speaker 1: and Nancy policy is not there yet, it doesn't seem

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Speaker 1: like she's going to get there, but she's gonna say

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Speaker 1: everything she can to help public peace. Some of these

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Speaker 1: folks in the House, Alex is this the president's comments

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Speaker 1: today by saying he's not leaving by by trashing John Deane,

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Speaker 1: the Nixon lawyer, and just Andine's testimony before the House

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Speaker 1: Judiciary Committee. Does that how does that influence what Speaker

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Speaker 1: Pelos he has to do with the impeachment chatter and

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Speaker 1: the party. You know, I mean, I since we're making

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Speaker 1: Nixon comparisons, let's talk about the the Nixon impeachment timeline.

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Speaker 1: I think people forget about this, like forty years later House,

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Speaker 1: how long it took? You know that the break in

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Speaker 1: the water break end happened in June seventy two, before

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Speaker 1: before the election that year, and then then the Post

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Speaker 1: started reporting on it. Nixon won election in the landslide,

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Speaker 1: He destroyed George McGovern. He had way more political capital

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Speaker 1: than Trump had when he won in sixteen. And then

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Speaker 1: like there was continued reporting, some investigations. Impeachment proceedings in

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Speaker 1: the House didn't even begin until May ninety four, and

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Speaker 1: they took three months. And three months they they destroyed

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Speaker 1: Rich Richard Nixon's political capital, painting him as a criminal,

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Speaker 1: and he resigned in July, uh facing an impeachment vote.

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Speaker 1: But right now, Mark, when you look at the land,

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Speaker 1: the math, and the Senate, there's no chance that he

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Speaker 1: would be convicted. Yeah, well, we don't know that right

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Speaker 1: until you actually can you know if you look at

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Speaker 1: it today. Yeah, sure, but we haven't actually had the trial.

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Speaker 1: As Alex said, we haven't laid out the case for impeachment.

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Speaker 1: Half the Americans haven't read them all the report. Um,

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Speaker 1: I think you're also looking at a Nancy Pelosi, who

428
00:23:15,960 --> 00:23:18,159
Speaker 1: I argue is the smartest person in this town in

429
00:23:18,240 --> 00:23:23,119
Speaker 1: terms of understanding politics and national communications. By her saying

430
00:23:23,359 --> 00:23:26,159
Speaker 1: that she's not for impeachment when in fact she may

431
00:23:26,240 --> 00:23:27,960
Speaker 1: come out and for it, right, that on't even make

432
00:23:28,000 --> 00:23:30,560
Speaker 1: the case even more strong. And also you think you

433
00:23:30,600 --> 00:23:32,560
Speaker 1: need to look at in two thousand, which was I

434
00:23:32,680 --> 00:23:36,199
Speaker 1: looked as interesting. Gore didn't really use Clinton on the

435
00:23:36,200 --> 00:23:39,479
Speaker 1: campaign trail because he was tainted, and George W. Bush

436
00:23:39,560 --> 00:23:41,679
Speaker 1: one of his famous taglines, He's like, I'm gonna restore

437
00:23:41,720 --> 00:23:45,159
Speaker 1: the dignity to the Oval office. So I think this

438
00:23:45,200 --> 00:23:46,720
Speaker 1: is a long way to go. We have a lot

439
00:23:46,760 --> 00:23:49,280
Speaker 1: more to happen, the idea that's gonna happen overnight, and

440
00:23:49,320 --> 00:23:52,000
Speaker 1: the idea that just because the Senate isn't gonna formally

441
00:23:52,000 --> 00:23:54,760
Speaker 1: convict Trump to not do impeachment. I think there are

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00:23:54,760 --> 00:23:56,240
Speaker 1: a lot of people in the Hill They're like, we

443
00:23:56,280 --> 00:23:58,040
Speaker 1: can't stand for this. It also be quite a power

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00:23:58,040 --> 00:24:00,280
Speaker 1: point for Nancy Pelosi to try to put Susan call Ones,

445
00:24:00,760 --> 00:24:03,080
Speaker 1: Corey Gardner, and some of these other senators on the

446
00:24:03,119 --> 00:24:05,760
Speaker 1: record on this. I mean, as they face tough electorate's

447
00:24:05,840 --> 00:24:08,920
Speaker 1: next year. Um, you kind of wonder how sure their

448
00:24:09,000 --> 00:24:11,040
Speaker 1: votes might be on something like that. But to your point,

449
00:24:11,119 --> 00:24:13,960
Speaker 1: the electorate right now doesn't care, right, I mean, is

450
00:24:14,000 --> 00:24:15,320
Speaker 1: that what the polls said? And then I don't wanna

451
00:24:15,320 --> 00:24:17,280
Speaker 1: say they don't care, but they're not. Impeachment isn't higher

452
00:24:17,280 --> 00:24:19,560
Speaker 1: on their radar. It's not. It is for Democrats, but

453
00:24:19,600 --> 00:24:22,160
Speaker 1: it's not for everybody else. Going back to two thousand,

454
00:24:22,160 --> 00:24:24,560
Speaker 1: I think it's really important. We don't know what would

455
00:24:24,600 --> 00:24:27,080
Speaker 1: happen to what Eli is saying, like maybe the so

456
00:24:27,119 --> 00:24:28,879
Speaker 1: the Democrats don't get it done in the House, but

457
00:24:28,920 --> 00:24:32,320
Speaker 1: that is the rallying cry, right let's make sure we

458
00:24:32,320 --> 00:24:34,560
Speaker 1: get out of our race. Let's make sure we vote

459
00:24:34,560 --> 00:24:36,640
Speaker 1: Trump out of office. Maybe that is the rallying cry.

460
00:24:36,760 --> 00:24:39,440
Speaker 1: So impeachment, I think it still has a long way

461
00:24:39,440 --> 00:24:42,119
Speaker 1: to go. Clearly it's agitating the president, or you wouldn't

462
00:24:42,160 --> 00:24:44,920
Speaker 1: be making all these crazy comments. Yeah, it's totally it's

463
00:24:44,960 --> 00:24:48,000
Speaker 1: totally on his mind. Um, but I think he I

464
00:24:48,040 --> 00:24:50,760
Speaker 1: think he right now, he's he's still daring Democrats to

465
00:24:50,760 --> 00:24:52,520
Speaker 1: to jump into impeachment, and he wants them to do it,

466
00:24:52,640 --> 00:24:54,800
Speaker 1: do it prematurely. He wants them to do it now

467
00:24:55,560 --> 00:25:00,359
Speaker 1: while his approval ratings aren't the toilet um versus you know,

468
00:25:00,400 --> 00:25:04,160
Speaker 1: a year from now, when you know the Democrats maybe

469
00:25:04,200 --> 00:25:06,760
Speaker 1: managed to build a body of evidence supporting a case

470
00:25:06,800 --> 00:25:09,760
Speaker 1: for impeachment and as a apprep ratings, how do we

471
00:25:09,880 --> 00:25:12,600
Speaker 1: do that? Though, beyond the Mueller report hearings, the hearings

472
00:25:12,640 --> 00:25:14,439
Speaker 1: like the one they had today, except you know, they

473
00:25:14,480 --> 00:25:18,520
Speaker 1: need to get they need to eventually get real witnesses.

474
00:25:18,600 --> 00:25:21,480
Speaker 1: Not no offense to John Dene, but the people people

475
00:25:21,560 --> 00:25:25,439
Speaker 1: who who have experienced with what Mueller was investigating, and

476
00:25:25,520 --> 00:25:28,960
Speaker 1: not necessarily just people who you know, from terrorists to

477
00:25:29,520 --> 00:25:32,040
Speaker 1: John Dene. Coming up, we're gonna pivot back to policy

478
00:25:32,080 --> 00:25:35,320
Speaker 1: alex Wayne, Bloomberg News White House team Leader, Mark Ross,

479
00:25:35,320 --> 00:25:38,480
Speaker 1: founder of Charri col Global, Eli Yoakley. He is a

480
00:25:38,520 --> 00:25:42,440
Speaker 1: reporter for the Morning the Morning Consult. You can download

481
00:25:42,440 --> 00:25:44,720
Speaker 1: the sound on podcast on Apple, it Tunes, at Bloomberg

482
00:25:44,760 --> 00:25:47,679
Speaker 1: dot com, or by downloading the Bloomberg Business app. You

483
00:25:47,680 --> 00:25:50,040
Speaker 1: can also find us on Radio dot Com, I Heart

484
00:25:50,119 --> 00:25:53,600
Speaker 1: Radio and Spotify. I'm Kevin Cirelli. You're listening to Bloomberg.

485
00:25:58,119 --> 00:26:02,280
Speaker 1: You're listening to Sound On with Kevin Surreally on Bloomberg

486
00:26:03,520 --> 00:26:08,120
Speaker 1: and one m HD two boltomole GERD. I'm Kevin CURRELLI

487
00:26:08,240 --> 00:26:12,360
Speaker 1: Chief Washington correspondent for Bloomberg Television and Bloomberg Radio. I mean,

488
00:26:12,400 --> 00:26:16,040
Speaker 1: it's really been a marathon Eco policy newsday. Plus you

489
00:26:16,160 --> 00:26:18,920
Speaker 1: throw in John Deane who was testifying before the House

490
00:26:19,000 --> 00:26:22,480
Speaker 1: Judiciary Committee, and you got yourself an eventful Monday, which

491
00:26:22,520 --> 00:26:25,080
Speaker 1: is why I'm thrilled to have Eli Yoakley, political reporter

492
00:26:25,160 --> 00:26:29,439
Speaker 1: for the Morning Consult with me in studio, as is

493
00:26:29,600 --> 00:26:34,560
Speaker 1: Mark Cross, founder of Critical Global Communications Firm, which specializes

494
00:26:34,560 --> 00:26:38,760
Speaker 1: in the intersection of advising businesses on the rise of globalization,

495
00:26:39,119 --> 00:26:42,159
Speaker 1: and now alex Wayne Bloomberg News White House Team Leader

496
00:26:42,280 --> 00:26:45,240
Speaker 1: alex I'll start with you, because the President went in

497
00:26:45,240 --> 00:26:48,959
Speaker 1: that CNBC exclusive interview. Uh he waited on the on

498
00:26:49,000 --> 00:26:53,240
Speaker 1: the FED currency manipulation question, which seems to be discussed

499
00:26:53,240 --> 00:26:55,600
Speaker 1: every now and again. And I'll play for you a

500
00:26:55,600 --> 00:26:58,600
Speaker 1: bite of the President talking about, uh, the currency and

501
00:26:58,640 --> 00:27:02,199
Speaker 1: the FED. Here's President Trump talking about China currency and

502
00:27:02,280 --> 00:27:05,040
Speaker 1: the FED. Here he is they devalue their currency. They

503
00:27:05,119 --> 00:27:08,280
Speaker 1: have for years, has put them at a tremendous competitive advantage.

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00:27:08,280 --> 00:27:10,199
Speaker 1: And we don't have that advantage because we have a

505
00:27:10,240 --> 00:27:12,960
Speaker 1: FED that doesn't lower interest ories. We have a FED

506
00:27:13,040 --> 00:27:15,879
Speaker 1: that raises interest rates the day before a bondis who

507
00:27:15,920 --> 00:27:17,399
Speaker 1: goes out, so we have to pay more money. You

508
00:27:17,440 --> 00:27:19,960
Speaker 1: tell me about that. Thinking, okay, so why is he

509
00:27:20,080 --> 00:27:25,800
Speaker 1: dangling this currency devaluation carrot? Again? He keeps saying this,

510
00:27:25,880 --> 00:27:28,399
Speaker 1: and yet his own Treasury department disagrees with him. And

511
00:27:28,480 --> 00:27:31,240
Speaker 1: he promised during the campaign he would declare China currency

512
00:27:31,240 --> 00:27:34,320
Speaker 1: manipulator in his first day in office. Then Treasury came

513
00:27:34,320 --> 00:27:37,000
Speaker 1: out with its first report under Trump that didn't that

514
00:27:37,080 --> 00:27:39,320
Speaker 1: said China is a manipulating its currency, and its second

515
00:27:39,320 --> 00:27:41,119
Speaker 1: reports of the same thing, and its third report and

516
00:27:41,119 --> 00:27:43,240
Speaker 1: fourth report, and a couple of weeks ago it's fifth report.

517
00:27:43,800 --> 00:27:46,560
Speaker 1: UH Treasury refuses to go along with Trump's opinion that

518
00:27:46,560 --> 00:27:49,520
Speaker 1: that China's manipulating its currency, and so he's done something

519
00:27:49,200 --> 00:27:53,320
Speaker 1: that's interesting. UH Commerce is coming out with a plan

520
00:27:53,520 --> 00:27:58,240
Speaker 1: to make its own determinations about whether countries are messing

521
00:27:58,240 --> 00:28:01,920
Speaker 1: with their currencies and and posta blee enact tariffs UH

522
00:28:01,960 --> 00:28:04,919
Speaker 1: if if Commerce Department, If the Commerce Department decides that

523
00:28:04,960 --> 00:28:06,760
Speaker 1: they are. This is supposed to be done in consultation

524
00:28:06,760 --> 00:28:08,880
Speaker 1: with Treasury. But our Salamos and is reported that there's

525
00:28:08,920 --> 00:28:11,960
Speaker 1: some sparks between the two agencies because Treasury sort of

526
00:28:11,960 --> 00:28:14,440
Speaker 1: thinks that's their turf. Nothing like a good agency turf

527
00:28:14,440 --> 00:28:16,760
Speaker 1: for Mark Cross. But but but I'm curious about the

528
00:28:16,800 --> 00:28:20,240
Speaker 1: timing of all of this because the President hitting pause

529
00:28:20,800 --> 00:28:23,800
Speaker 1: with Mexico, saying he's not going to increase tariffs with

530
00:28:23,920 --> 00:28:27,160
Speaker 1: Mexico as of now, dot dot dot, He's putting pause

531
00:28:27,200 --> 00:28:29,600
Speaker 1: on the terrorists with Mexico as of now, and now

532
00:28:29,640 --> 00:28:31,720
Speaker 1: he's going after China again ahead of the gi Chwanni

533
00:28:31,800 --> 00:28:34,440
Speaker 1: in Osaka, Japan in just a couple of weeks where

534
00:28:34,440 --> 00:28:37,399
Speaker 1: he's set to meet with President shi Jing Ping of China.

535
00:28:37,920 --> 00:28:42,120
Speaker 1: So now he's he's dangling the currency manipulation thing again. Yeah.

536
00:28:42,200 --> 00:28:46,800
Speaker 1: The challenge with currency manipulation, it really is the way

537
00:28:47,040 --> 00:28:49,040
Speaker 1: where you sit is where you stand, right. That is,

538
00:28:49,080 --> 00:28:53,160
Speaker 1: the folks in Beijing, with our qualitative easing and some

539
00:28:53,200 --> 00:28:56,040
Speaker 1: of the shenanigans we do with our monetary policy, they

540
00:28:56,080 --> 00:28:57,880
Speaker 1: may have a different interpretation of what we're doing with

541
00:28:57,880 --> 00:29:00,960
Speaker 1: our currency. So the idea that you know, the US

542
00:29:01,040 --> 00:29:05,760
Speaker 1: government can sanction or label another sovereign government and tell

543
00:29:05,800 --> 00:29:08,360
Speaker 1: them how to run their currency is a very dicey

544
00:29:08,400 --> 00:29:12,280
Speaker 1: issue because the blowback is uh not pretty. Uh, it's

545
00:29:12,320 --> 00:29:14,800
Speaker 1: not something you can do willy nilly, but certainly from

546
00:29:14,800 --> 00:29:17,520
Speaker 1: a campaign talking point, it's fantastic. You know, this is

547
00:29:17,560 --> 00:29:22,040
Speaker 1: even going back to Romney. You know, Hugh two from

548
00:29:22,120 --> 00:29:25,240
Speaker 1: day one was gonna label China campaign a currency manipulator.

549
00:29:25,240 --> 00:29:27,440
Speaker 1: And this is something that fits well in a campaign

550
00:29:27,520 --> 00:29:30,120
Speaker 1: bumper sticker, but in terms of sound economic policy it

551
00:29:30,160 --> 00:29:33,000
Speaker 1: doesn't make sense. Also, I think Trump generally is someone

552
00:29:33,040 --> 00:29:35,520
Speaker 1: who just likes to run against things, so having another

553
00:29:35,560 --> 00:29:38,160
Speaker 1: foil in the federal reserve works for him. Well, yeah,

554
00:29:38,200 --> 00:29:41,200
Speaker 1: you know, it is interesting to just to see how

555
00:29:41,280 --> 00:29:44,480
Speaker 1: this president has has criticized the Central Bank in such

556
00:29:44,480 --> 00:29:47,800
Speaker 1: an aggressive way, and and it's open for debate as

557
00:29:47,840 --> 00:29:50,440
Speaker 1: to whether or not the Fed is is listening to him.

558
00:29:50,440 --> 00:29:52,560
Speaker 1: And now you've got the Democrats up on Capitol Hill

559
00:29:52,760 --> 00:29:54,600
Speaker 1: pressing the FED to look at the Witch Bank and

560
00:29:54,640 --> 00:29:58,480
Speaker 1: the financial dealings of of of the folks within the

561
00:29:58,480 --> 00:30:01,800
Speaker 1: Trump administration and whatnot. Uh So, it's fascinating just how

562
00:30:01,840 --> 00:30:04,200
Speaker 1: that's been politicized. I want to play one more by

563
00:30:04,400 --> 00:30:07,960
Speaker 1: Eli from the CNBC exclusive interview with President Trump earlier

564
00:30:08,000 --> 00:30:11,360
Speaker 1: today about the debt of China and and guests speaking

565
00:30:11,360 --> 00:30:14,320
Speaker 1: of foils. His favorite foil, not that share J Powell,

566
00:30:14,520 --> 00:30:17,880
Speaker 1: not even Paul Ryan. There's a throwback, but Hillary Clinton.

567
00:30:17,920 --> 00:30:20,960
Speaker 1: Take a listen to President Trump talking about China and

568
00:30:21,040 --> 00:30:24,520
Speaker 1: Hillary Clinton. We picked up trillions of dollars in worth

569
00:30:24,600 --> 00:30:28,120
Speaker 1: since I've been elected. China has lost many, many trillions

570
00:30:28,120 --> 00:30:30,360
Speaker 1: of dollars. They're way behind. They we're gonna catch us.

571
00:30:30,920 --> 00:30:35,200
Speaker 1: Had a Democrat gotten in, namely the one we're talking about. Uh,

572
00:30:35,360 --> 00:30:37,440
Speaker 1: China would have caught us by the end of her term.

573
00:30:37,720 --> 00:30:41,520
Speaker 1: They're nowhere close. They'll never catch us. They'll never catch us.

574
00:30:41,600 --> 00:30:45,480
Speaker 1: What a day, John Dene, Hillary Clinton, you got I mean, wow,

575
00:30:45,520 --> 00:30:47,560
Speaker 1: Go ahead, do you respond to it? Sounds like he

576
00:30:47,600 --> 00:30:50,600
Speaker 1: set some of up on this um and Hillary is

577
00:30:50,640 --> 00:30:53,840
Speaker 1: gonna run again. Well, I heard it here first on

578
00:30:53,920 --> 00:30:56,480
Speaker 1: sound on UM. But why I think there is a

579
00:30:56,520 --> 00:30:59,560
Speaker 1: weakness for Trump on trade. I think that um, we

580
00:30:59,680 --> 00:31:04,040
Speaker 1: we've asked about this recently and the majority of Americas

581
00:31:04,080 --> 00:31:07,000
Speaker 1: don't have confidence in the president what he's doing on trade. Uh.

582
00:31:07,120 --> 00:31:09,360
Speaker 1: This is something that I think that the Democrats could

583
00:31:09,360 --> 00:31:13,440
Speaker 1: try to embrace, uh and going into But you know, look,

584
00:31:13,560 --> 00:31:15,360
Speaker 1: it'll be interesting, especially with the egg stuff. I mean,

585
00:31:15,400 --> 00:31:17,200
Speaker 1: this is a big deal in the Midwest, and you've

586
00:31:17,200 --> 00:31:20,440
Speaker 1: already seen some of these Republican lawmakers come out against

587
00:31:20,440 --> 00:31:23,120
Speaker 1: some of his moves here, Mark, But how bad does

588
00:31:23,120 --> 00:31:25,720
Speaker 1: it have to get before it becomes a political problem?

589
00:31:25,760 --> 00:31:28,120
Speaker 1: As Eli hints, I mean, there's no real, Lady, It's

590
00:31:28,160 --> 00:31:31,960
Speaker 1: not like farmers are are deserting the president in drugs. Well,

591
00:31:32,000 --> 00:31:34,360
Speaker 1: it's truly where our farmers going to go, who are

592
00:31:34,400 --> 00:31:37,400
Speaker 1: generally you know, center right voters anyways, But and you know,

593
00:31:37,520 --> 00:31:40,160
Speaker 1: and also the agg Department and the Trump administration has

594
00:31:40,160 --> 00:31:44,520
Speaker 1: brought them off with uh, you know, bailouts. Where are

595
00:31:44,520 --> 00:31:47,320
Speaker 1: they gonna go? But I think I do think Trump's

596
00:31:47,360 --> 00:31:50,960
Speaker 1: handling of trade in overall from a macro position where

597
00:31:51,000 --> 00:31:52,640
Speaker 1: the US is going to be in terms of our

598
00:31:52,720 --> 00:31:55,360
Speaker 1: rolling globalization is certainly gonna be on the ballot in

599
00:31:57,080 --> 00:31:58,680
Speaker 1: you know, I think it's notable that he he may

600
00:31:58,760 --> 00:32:01,840
Speaker 1: get the rate cut that he that he has been

601
00:32:01,840 --> 00:32:05,360
Speaker 1: complaining about just by escalating the trade war with China.

602
00:32:05,680 --> 00:32:08,240
Speaker 1: The Chairman pal has been has been making noises about

603
00:32:08,240 --> 00:32:10,800
Speaker 1: that lately, and that becomes the biggest tape. I mean,

604
00:32:10,960 --> 00:32:13,320
Speaker 1: but but can can President Trump take credit for that

605
00:32:13,400 --> 00:32:19,600
Speaker 1: rate cut? Yeah? I think, well, Kenny, he definitely will. Uh,

606
00:32:19,640 --> 00:32:21,480
Speaker 1: I don't you know, Yeah, he probably can. I mean,

607
00:32:21,520 --> 00:32:24,560
Speaker 1: you know, a rate cut by definition is a sign

608
00:32:24,600 --> 00:32:26,720
Speaker 1: of some weakness in the economy though, And so I don't,

609
00:32:27,000 --> 00:32:28,480
Speaker 1: I don't, I don't know if he wants to take

610
00:32:28,480 --> 00:32:31,520
Speaker 1: full credit and admit that. Um, there are some warning

611
00:32:31,560 --> 00:32:34,400
Speaker 1: signals here. This was a very wonky episode of Bloomberg

612
00:32:34,520 --> 00:32:36,240
Speaker 1: Radio Sound On, But I do want to end on

613
00:32:36,280 --> 00:32:39,480
Speaker 1: an even on a geopolitical note by our colleague Nick

614
00:32:39,480 --> 00:32:41,600
Speaker 1: wadhams Alex, He's got this story out on the Bloomberg

615
00:32:41,680 --> 00:32:45,320
Speaker 1: terminal this afternoon about the US weighing more sanctions against

616
00:32:45,400 --> 00:32:49,600
Speaker 1: Iran over a potential trade with Europe. The US Trump

617
00:32:49,640 --> 00:32:53,240
Speaker 1: administration is weighing sanctions, according to Nick's reporting, against the

618
00:32:53,240 --> 00:32:56,280
Speaker 1: Iranian financial body set up as the go between for

619
00:32:56,520 --> 00:33:00,360
Speaker 1: humanitarian trade with Europe, and this would likely ever the

620
00:33:00,400 --> 00:33:05,120
Speaker 1: economic and humanitarian lifeline that France, Germany and the UK

621
00:33:05,920 --> 00:33:09,720
Speaker 1: have sought to create for Tehran. So that's fascinating to

622
00:33:09,760 --> 00:33:13,640
Speaker 1: watch how the administration is still continuing to try to

623
00:33:13,720 --> 00:33:18,720
Speaker 1: isolate Iran since uh withdrawing from the Iranian Nuclear disarmaed

624
00:33:18,760 --> 00:33:21,680
Speaker 1: and deal. My thanks to Alex Wayam Bloomberg News White

625
00:33:21,720 --> 00:33:23,920
Speaker 1: House team Leader leader on a busy day where Trump

626
00:33:23,920 --> 00:33:26,920
Speaker 1: did not stop talking really to to spend time with

627
00:33:27,000 --> 00:33:29,640
Speaker 1: us to break it, and the Trump translator in chief,

628
00:33:29,960 --> 00:33:33,640
Speaker 1: Ladies and gentleman, Alex Waynae Bloomberg News White House team Leader,

629
00:33:33,680 --> 00:33:36,560
Speaker 1: Mark Ross, founder of Terriical Global, and Eli Yokley, political

630
00:33:36,640 --> 00:33:39,760
Speaker 1: reporter for the Mind Morning Consult. I also want to

631
00:33:39,760 --> 00:33:42,680
Speaker 1: thank Kathy Craning. Jersey is the director of the US

632
00:33:42,760 --> 00:33:47,520
Speaker 1: Consumer Financial Protection Bureau. I'm Kevin Cirilli. You can download

633
00:33:47,560 --> 00:33:50,720
Speaker 1: the sound on podcast on Apple iTunes, on the Bloomberg

634
00:33:50,720 --> 00:33:53,560
Speaker 1: Business app, or by checking us out on radio dot Com,

635
00:33:53,600 --> 00:33:56,920
Speaker 1: I Heart Radio and Spotify. You're listening to Bloomberg