WEBVTT - Bloomberg Surveillance TV: October 9th, 2025 0:00:02.400 --> 0:00:06.760 Bloomberg Audio Studios, Podcasts, radio news. 0:00:11.680 --> 0:00:15.480 This is the Bloomberg Surveillance Podcast. I'm Jonathan Ferrow, along 0:00:15.520 --> 0:00:18.720 with Lisa Bromwitz and Amerie Hordern. Join us each day 0:00:18.760 --> 0:00:22.280 for insight from the best in markets, economics, and geopolitics 0:00:22.440 --> 0:00:24.880 from our global headquarters in New York City. We are 0:00:24.960 --> 0:00:27.680 live on Bloomberg Television weekday mornings from six to nine 0:00:27.720 --> 0:00:31.319 am Eastern. Subscribe to the podcast on Apple, Spotify or 0:00:31.320 --> 0:00:33.960 anywhere else you listen, and as always on the Bloomberg 0:00:34.040 --> 0:00:35.880 Terminal and the Bloomberg Business app. 0:00:36.520 --> 0:00:40.520 Sticking with the shutdown, as tensions are rising on Capitol Hill, 0:00:40.600 --> 0:00:43.879 House Minority Leader Hakim Jeffries of New York is confident 0:00:43.920 --> 0:00:47.640 a spending bill can pass, but says Republicans must first 0:00:47.680 --> 0:00:52.280 address what he calls healthcare crisis. House Leader Jeffries joins 0:00:52.360 --> 0:00:53.760 us now, Congressman, thank. 0:00:53.600 --> 0:00:54.680 You so much for being with us. 0:00:54.880 --> 0:00:57.600 House Leader, I want to just start with whether you 0:00:57.680 --> 0:01:01.040 feel confident that you can complete sort of agreement in 0:01:01.080 --> 0:01:03.600 the next few days. Do you have a timeframe as 0:01:03.600 --> 0:01:05.920 these discussions do continue. 0:01:06.600 --> 0:01:08.600 Welcome morning, and great to be with you. You know, 0:01:08.640 --> 0:01:12.200 as Democrats, we've repeatedly made clear we will sit down anytime, 0:01:12.240 --> 0:01:16.400 any place with anyone, either here at Capitol Hill or 0:01:16.480 --> 0:01:19.960 back at the White House, in order to reopen the government, 0:01:20.080 --> 0:01:23.040 to enact the spending bill that actually meets the needs 0:01:23.040 --> 0:01:25.959 of the American people as opposed to hurting everyday Americans. 0:01:26.360 --> 0:01:29.640 And of course that spending bill must decisively address the 0:01:29.680 --> 0:01:34.080 Republican healthcare crisis that is hurting working class Americans and 0:01:34.120 --> 0:01:37.760 middle class Americans all throughout the country, including as it 0:01:37.800 --> 0:01:43.080 relates to the urgent need to reauthorize and extend the 0:01:43.120 --> 0:01:44.760 Affordable Care attax credits. 0:01:45.000 --> 0:01:47.720 Well, the Speaker told us yesterday that Congress is having 0:01:47.800 --> 0:01:50.320 these talks when it comes to subsidies reform. 0:01:50.840 --> 0:01:51.960 Are you part of these talks? 0:01:52.000 --> 0:01:54.160 And just a quick condolences because I know you like me, 0:01:54.240 --> 0:01:56.560 we're up late watching the Yankees lose and I know 0:01:56.560 --> 0:01:57.320 you're a huge fan. 0:01:57.720 --> 0:02:00.800 Minority Leader Jeffries, Well, thank you. 0:02:01.400 --> 0:02:04.320 They had a great season. Unfortunately it didn't in the 0:02:04.360 --> 0:02:07.320 way that we expected. But on to next year. With 0:02:07.320 --> 0:02:11.200 respect to know what the Speaker has indicated, there's been 0:02:11.200 --> 0:02:15.760 no conversation between House Republicans and House Democrats. Are between 0:02:15.760 --> 0:02:18.320 the Republican Party, Donald Trump, the administration, and any of 0:02:18.400 --> 0:02:21.840 us on Capitol Hill, including our conversations that should be 0:02:21.880 --> 0:02:25.960 taking place with Leader Schumer and Senate Democrats since that 0:02:26.040 --> 0:02:30.320 White House meeting that occurred last Monday. That's unfortunate, and 0:02:30.360 --> 0:02:32.960 the behavior of Republicans since that point in time has 0:02:32.960 --> 0:02:36.800 been unseerrious and erratic, and we continue to urge them 0:02:37.280 --> 0:02:40.040 to find a path forward, to sit down, let's talk 0:02:40.360 --> 0:02:44.480 exercise common sense on behalf of the American people. But 0:02:44.919 --> 0:02:47.960 anything that's done has to address this urgent need. You know, 0:02:48.000 --> 0:02:51.400 the open enrollment period starts on November first. Over the 0:02:51.480 --> 0:02:54.120 next few weeks, tens of millions of Americans are going 0:02:54.160 --> 0:02:58.000 to receive notices indicating that their premiums, copaids, and deductibles 0:02:58.040 --> 0:03:02.680 are about to skyrocket, in many instances by thousands of 0:03:02.840 --> 0:03:06.480 dollars per year. People are going to go without health insurance, 0:03:06.680 --> 0:03:11.239 face medical bankruptcy, and be jammed up in a situation 0:03:11.360 --> 0:03:15.240 where they need care for themselves, their children, and their families, 0:03:15.360 --> 0:03:18.200 but will be unable to access it because they'll be 0:03:18.240 --> 0:03:19.239 without health insurance. 0:03:19.360 --> 0:03:23.400 It was a democratic policy, though your party voted for 0:03:23.440 --> 0:03:27.400 this temporary subsidy increase. Do you regret having an expiration 0:03:27.520 --> 0:03:27.919 date on. 0:03:27.880 --> 0:03:33.960 This No, We were able to extend it through the 0:03:34.080 --> 0:03:39.080 end of this year, in full anticipation that any reasonable 0:03:39.280 --> 0:03:44.120 member of Congress will understand that you cannot kick tens 0:03:44.120 --> 0:03:47.200 of millions of Americans off of health care that's become 0:03:47.320 --> 0:03:49.840 affordable for them. 0:03:49.480 --> 0:03:51.000 As a result of the tax credits. 0:03:51.080 --> 0:03:55.480 Unfortunately, Republicans chose earlier this year to pass their one big, 0:03:55.600 --> 0:03:59.600 ugly bill, largest cut to Medicaid in American history, ripped 0:03:59.640 --> 0:04:02.560 food away from the mouths of hungry children and seniors 0:04:02.640 --> 0:04:05.600 and veterans, and they did all of this to pay 0:04:05.640 --> 0:04:08.520 for massive tax breaks that they made permanent for their 0:04:08.560 --> 0:04:11.960 billionaire donors well at the same time refusing to extend 0:04:11.960 --> 0:04:15.680 the Affordable CARECT tax credits, which is why we find 0:04:15.720 --> 0:04:17.360 ourselves in this situation. 0:04:17.040 --> 0:04:18.240 Right now, Leader Jeffries. 0:04:18.560 --> 0:04:21.640 Some people would argue that what the Republicans are offering 0:04:21.880 --> 0:04:25.120 is to have a clean, continuing resolution and to continue 0:04:25.200 --> 0:04:28.680 negotiating this given the fact that at the same time, 0:04:28.720 --> 0:04:30.320 they are going to be service members who are not 0:04:30.400 --> 0:04:32.400 going to be paid. There's going to be a question 0:04:32.440 --> 0:04:34.800 around foodstab stamps and whether they're going to be funded. 0:04:34.839 --> 0:04:37.160 Air traffic controllers are calling out sick because they're not 0:04:37.160 --> 0:04:40.039 receiving paychecks. At what point do you just say, look, 0:04:40.080 --> 0:04:42.200 we need to keep people getting paid and we can 0:04:42.279 --> 0:04:42.880 keep talking. 0:04:43.839 --> 0:04:45.400 We want to reopen the government, and we want to 0:04:45.440 --> 0:04:48.280 reopen it immediately, but we also need to enact a 0:04:48.360 --> 0:04:52.120 spending agreement that actually improves the quality of life of 0:04:52.120 --> 0:04:56.080 the American people as opposed to hurting everyday Americans, which 0:04:56.120 --> 0:04:59.800 Republicans have been doing all throughout this year, and they've refused, 0:05:00.000 --> 0:05:03.960 They've refused to negotiate at every step of the way 0:05:04.160 --> 0:05:06.479 throughout this year. They've taken a my way or the 0:05:06.560 --> 0:05:09.960 highway approach. They've gone it alone. And now we find 0:05:10.000 --> 0:05:13.520 ourselves dealing with this mess of this Republican healthcare crisis, 0:05:13.560 --> 0:05:14.960 and time has run out. 0:05:15.120 --> 0:05:17.760 Leader Jeffries, do you think that you've gotten more leverage 0:05:17.800 --> 0:05:19.400 as this process has gone on, or do you think 0:05:19.400 --> 0:05:20.360 that it's actually waiting? 0:05:21.560 --> 0:05:23.760 Well, it's actually not about leverage for us. It's about 0:05:23.760 --> 0:05:27.960 the American people. That's the fight that we're waging. Particularly 0:05:28.000 --> 0:05:30.320 in an environment where the cost of living is way 0:05:30.360 --> 0:05:31.039 too high. 0:05:31.480 --> 0:05:33.000 People are already. 0:05:32.960 --> 0:05:38.159 Paying too much for groceries, for housing, for their electricity bills, 0:05:38.400 --> 0:05:41.840 and now, of course they're confronting the very real possibility 0:05:42.279 --> 0:05:47.440 of being bankrupted by the rising costs of their health insurance. 0:05:47.760 --> 0:05:50.960 So we're just asking Republicans to sit down and negotiate. 0:05:51.000 --> 0:05:54.320 That's what should take place, not simply a my way 0:05:54.440 --> 0:05:58.960 or the highway approach, particularly when they're asking Democrats to 0:05:59.000 --> 0:06:01.960 support a part of san in Republicans spending bill that 0:06:02.000 --> 0:06:04.239 continues to gut the healthcare of the American people. 0:06:04.440 --> 0:06:08.000 Right now, Republicans are asking is to support a clean 0:06:08.080 --> 0:06:11.800 continuous resolution, a scoff gap funding measure, which we've seen 0:06:11.839 --> 0:06:14.800 time and time again that Democrats also wanted Republicans to 0:06:14.800 --> 0:06:18.000 support in the fast passed Why are Democrats choosing to 0:06:18.080 --> 0:06:19.480 keep the government shut? 0:06:20.839 --> 0:06:23.919 That's a Republican talking point, unfortunately, that they are putting 0:06:23.920 --> 0:06:26.880 into the public domain. It's not a clean continuing resolution. 0:06:27.000 --> 0:06:28.000 Why isn't it In March? 0:06:29.760 --> 0:06:31.240 I'd be happy to explain that. 0:06:31.320 --> 0:06:35.599 In March, the Republicans passed a partisan bill in the 0:06:35.640 --> 0:06:39.720 House that Democrats strongly opposed. We opposed that spending bill 0:06:40.120 --> 0:06:43.880 because it hurt veterans, hurt children and families, it hurt 0:06:43.920 --> 0:06:47.880 housing affordability, and it hurt healthcare because of the cuts 0:06:47.880 --> 0:06:51.560 that were included in it. There was actually a bipartisan 0:06:51.600 --> 0:06:56.039 spending agreement that we reached last December that passed overwhelmingly 0:06:56.200 --> 0:06:58.599 in the House and in the Senate. It was signed 0:06:58.640 --> 0:07:01.120 into law by President Joe Biden, and it had the 0:07:01.160 --> 0:07:04.960 support of then President elect Donald Trump. That would have 0:07:05.040 --> 0:07:08.840 been a clean spending agreement that could have been put 0:07:08.880 --> 0:07:14.239 before the Congress. Instead, they passed this partisan, Republican spending 0:07:14.280 --> 0:07:18.560 bill in March that we strongly opposed, and now they 0:07:18.600 --> 0:07:21.560 want us to continue to sign off on that particular 0:07:21.600 --> 0:07:25.200 bill that also includes five hundred million dollars and cuts 0:07:25.480 --> 0:07:29.640 to law enforcement grants to support police officers all across 0:07:29.680 --> 0:07:33.840 the country. That's just not something for a variety of reasons, 0:07:34.160 --> 0:07:37.360 we can support at this particular point in time. 0:07:37.640 --> 0:07:40.240 Do you think the Democratic Party could commit to broader 0:07:40.280 --> 0:07:43.440 reforms when it comes to the Affordable Care Act and 0:07:43.680 --> 0:07:47.280 keeping less of the subsidies. Could this be potential offrame 0:07:47.400 --> 0:07:47.880 for a deal. 0:07:49.320 --> 0:07:52.560 I think that our view, certainly in the House is 0:07:52.600 --> 0:07:57.000 that we will evaluate in good faith any bipartisan proposal 0:07:57.880 --> 0:08:01.360 that is sent over to us from the Senate if 0:08:01.440 --> 0:08:05.640 it decisively addresses the Republican healthcare crisis with respect to 0:08:06.040 --> 0:08:09.360 the Affordable Care Act, tax credits, extensions, or any other 0:08:09.440 --> 0:08:11.920 issues that may be put on the table because of 0:08:11.960 --> 0:08:14.200 the enormity of the attack on the healthcare of the 0:08:14.240 --> 0:08:17.000 American people that Republicans have waged this year. 0:08:17.160 --> 0:08:18.440 It's got to be meaningful. 0:08:18.760 --> 0:08:21.920 It's got to actually improve the lives of the American people. 0:08:22.360 --> 0:08:24.320 But unlike Republicans who. 0:08:24.120 --> 0:08:27.040 Have adopted this my way or the highway approach, we 0:08:27.160 --> 0:08:30.880 are actually willing to sit down and evaluate in good 0:08:30.920 --> 0:08:35.560 faith anything that could advance the ball here for working 0:08:35.559 --> 0:08:38.839 class Americans, middle class Americans, and everyday Americans. 0:08:39.040 --> 0:08:41.960 Is there an opportunity for standalone legislation to make sure 0:08:42.000 --> 0:08:44.880 that the more than one million active duty service members 0:08:44.880 --> 0:08:46.040 get paid next week. 0:08:47.679 --> 0:08:51.000 Certainly, our view in the House is that we should 0:08:51.240 --> 0:08:54.920 stand by our men and women in uniform and make 0:08:54.960 --> 0:08:59.160 sure that they do not miss a paycheck. Unfortunately, Speaker 0:08:59.240 --> 0:09:02.000 Johnson has ruled that out, saying it's not really an 0:09:02.040 --> 0:09:04.520 issue that he's prepared to deal with, in part because 0:09:04.840 --> 0:09:09.200 Republicans cancel votes last week, cancel votes this week, Apparently 0:09:09.400 --> 0:09:12.800 they may not be coming back next week. And what 0:09:12.920 --> 0:09:14.800 is that all for. Why are they on vacation in 0:09:14.840 --> 0:09:17.280 the middle of a government shutdown, Particularly as it relates 0:09:17.320 --> 0:09:22.520 to the real possibility that our military families might miss 0:09:22.640 --> 0:09:26.280 a paycheck that they cannot afford to miss. We're urging 0:09:26.280 --> 0:09:29.360 Republicans to get back into town, allow us to deal 0:09:29.400 --> 0:09:32.160 with the military pay issue, allow us to deal with 0:09:32.200 --> 0:09:35.480 the Republican health care crisis, and allow us to reopen 0:09:35.559 --> 0:09:39.040 the government so we can enact the spending agreement that 0:09:39.120 --> 0:09:40.559 meets the needs of the American people. 0:09:40.800 --> 0:09:44.800 Peter Jeffries, we also saw a pretty explosive argument between 0:09:45.120 --> 0:09:48.880 you and the fellow New York Congressman Mike Lawler, and 0:09:48.960 --> 0:09:52.880 then you proceeded to call Lawler an embarrassment on television. 0:09:53.000 --> 0:09:55.559 Was this fight representative of the state tensions that are 0:09:55.559 --> 0:09:58.360 going on within the Republican Party in New York State 0:09:58.440 --> 0:09:59.679 right now? 0:10:00.600 --> 0:10:03.720 Well, Magi, Mike Lawler is an irrelevant individual. He's a 0:10:03.720 --> 0:10:08.160 clout chaser, and he was stalking the Democratic leadership press 0:10:08.200 --> 0:10:12.640 conference in ways that are unhinged. And at the end 0:10:12.640 --> 0:10:16.440 of the day, our view is the people who need 0:10:16.480 --> 0:10:19.839 to sit down and have the conversation with US Republican 0:10:19.920 --> 0:10:23.400 leadership in the House and in the Senate. The Trump administration, 0:10:23.840 --> 0:10:26.520 including the President or the Vice president or anyone that 0:10:26.559 --> 0:10:29.280 they designate, are the ones who are ultimately going to 0:10:29.360 --> 0:10:32.480 determine how we can find a bipartisan path out of it, 0:10:32.840 --> 0:10:36.239 and we look forward to having those conversations, but unfortunately 0:10:36.320 --> 0:10:39.000 Republicans to date have declined to do that. 0:10:39.200 --> 0:10:41.840 Well, what was he doing that you deem unhinged? And 0:10:41.880 --> 0:10:44.760 have you spoken to him since? Have tensions cooled? It 0:10:44.760 --> 0:10:45.760 doesn't sound like they have. 0:10:47.360 --> 0:10:50.600 He's an irrelevant individual and as I indicated, his behavior 0:10:50.720 --> 0:10:54.920 clearly speaks for itself, complete and total embarrassment. As a 0:10:54.960 --> 0:10:58.480 description was a polite use of words. 0:10:58.600 --> 0:10:58.840 Leader. 0:10:58.840 --> 0:11:00.840 There's a question here about today is to get to 0:11:00.920 --> 0:11:04.520 unify the Democratic Party because this is somebody who is 0:11:04.520 --> 0:11:07.640 a Republican. He's not relevant in his district, and there 0:11:07.679 --> 0:11:11.200 is a question here, especially in New York, how to 0:11:11.520 --> 0:11:14.520 get some sort of cohesive message as a Democrat. 0:11:14.600 --> 0:11:17.559 I'm just wondering, from your perspective, especially. 0:11:17.120 --> 0:11:20.560 As it relates to the Democratic mayoral race in New 0:11:20.600 --> 0:11:21.200 York City. 0:11:21.559 --> 0:11:24.000 You have an endorsed or on mcdonnie, how. 0:11:23.880 --> 0:11:26.560 Difficult is it to get sort of a leadership view 0:11:26.760 --> 0:11:28.920 of where the Democratic Party is going to go? 0:11:31.120 --> 0:11:33.360 Well, listen, as Democrats, what unites us is that we 0:11:33.400 --> 0:11:36.360 believe in a strong flow and no ceiling at the 0:11:36.440 --> 0:11:39.000 end of the day, in America, you work hard, you 0:11:39.040 --> 0:11:41.280 play by the rules, there should be no ceiling to 0:11:41.360 --> 0:11:44.360 your success in terms of what you can achieve for yourself, 0:11:44.400 --> 0:11:46.560 for your family, and for your children. At the same 0:11:46.600 --> 0:11:49.480 point in time, we also believe that in this great country, 0:11:49.679 --> 0:11:52.000 the wealthiest country in the history of the world, that 0:11:52.040 --> 0:11:52.520 we need. 0:11:52.360 --> 0:11:53.040 A strong flow. 0:11:53.160 --> 0:11:58.199 That strong flow includes social Security and Medicare, Medicaid supplemental 0:11:58.280 --> 0:12:02.200 nutritional assistance, veterans benefits, and of course the Affordable Care Act. 0:12:02.320 --> 0:12:05.000 And what unites Democrats at this particular point in time 0:12:05.320 --> 0:12:08.760 is the fact that Republicans are assaulting the flaw that 0:12:08.800 --> 0:12:11.920 we should have for everyday Americans, while at the same 0:12:12.000 --> 0:12:15.480 time rewarding their billionaire donors, and by the way, in 0:12:15.520 --> 0:12:20.840 doing so, skyrocketing the debt by more than three trillion 0:12:20.880 --> 0:12:24.840 dollars in such a fiscally irresponsible fashion. 0:12:25.160 --> 0:12:28.400 Leader Jeffries, you did tell reporters last month you planned 0:12:28.440 --> 0:12:31.560 to address the mayor race in New York soon. Do 0:12:31.600 --> 0:12:33.760 you have a plan to endorse zoramm Donnie. 0:12:35.000 --> 0:12:37.960 We're in the middle of a government shut down. People 0:12:38.080 --> 0:12:41.760 are being hurt all across the country because Trump and 0:12:41.840 --> 0:12:45.240 Republicans decided to shut down the government rather than provide 0:12:45.280 --> 0:12:48.920 healthcare to working class Americans. And so what I've indicated, 0:12:48.960 --> 0:12:53.080 particularly most recently when Mayor Adams decided that he wouldn't 0:12:53.080 --> 0:12:55.720 seek reelection, is that I will have more to say 0:12:55.720 --> 0:13:00.359 about the mayor's race in advance of early voting in. 0:13:00.120 --> 0:13:02.800 New York City, which begins at the end of this month. 0:13:04.960 --> 0:13:08.480 Stay with US Mulplan tax savandance coming up after this. 0:13:17.679 --> 0:13:20.840 Reaching a deal to release all of the hostages in Kaza, 0:13:21.160 --> 0:13:24.920 President Trump saying he expects the hostages to be released 0:13:25.160 --> 0:13:28.640 probably on Monday. Joining US now is Danny Denon, Israel's 0:13:28.679 --> 0:13:30.440 ambassador Cheesy United Nations. 0:13:30.600 --> 0:13:32.400 Danny, Ambassador Donna. 0:13:32.400 --> 0:13:34.880 I'd love to get your sense of what the mood 0:13:35.000 --> 0:13:37.720 is like in Israel and why it has taken up 0:13:37.760 --> 0:13:41.240 to this point that really got this deal together and 0:13:41.280 --> 0:13:42.480 really changed the tone. 0:13:43.520 --> 0:13:45.320 Good morning, Lisa, Thank you for having me. 0:13:46.240 --> 0:13:49.200 Indeed today in Israel all around the world, we are 0:13:49.320 --> 0:13:49.920 very hopeful. 0:13:50.280 --> 0:13:52.000 You know, we have been waiting for the day for 0:13:52.160 --> 0:13:52.760 two years. 0:13:52.800 --> 0:13:55.600 We prayed for the release of the hostages, and we 0:13:55.600 --> 0:13:58.160 were very determined and we stayed it very clear. 0:13:58.320 --> 0:13:59.480 This worle will not end. 0:14:00.000 --> 0:14:02.320 We will get all the hostages out and I think 0:14:02.320 --> 0:14:05.720 that determination brought us to the position where we are today, 0:14:06.080 --> 0:14:08.520 and we want to thank President Trump and Prime Minister 0:14:08.559 --> 0:14:11.559 and Tanyau for the leadership. It's only the beginning, it's 0:14:11.559 --> 0:14:14.920 only the first aage. The government will decide in two 0:14:15.000 --> 0:14:19.040 hours about releasing terrorists, which is painful for us, and 0:14:19.080 --> 0:14:22.520 then we will start to see hopefully the hostages coming 0:14:22.600 --> 0:14:26.400 back home. That's the most important faith, but it's not 0:14:26.480 --> 0:14:28.680 the last one. You know, we have to speak about 0:14:28.680 --> 0:14:33.120 the future, the dimlitarization of Gaza, ensuring that Hamas will. 0:14:33.000 --> 0:14:35.560 Not be part of the process over there. 0:14:35.920 --> 0:14:38.120 So it did a long way ahead, but we are 0:14:38.240 --> 0:14:42.400 very hopeful and happy today to think about the hostages 0:14:42.480 --> 0:14:44.720 finally reuniting with the families. 0:14:45.280 --> 0:14:48.360 Ambassador, is it your understanding that President Trump is going 0:14:48.400 --> 0:14:50.720 to travel to Israel and address the Kannesse. 0:14:52.000 --> 0:14:54.920 Yes, you know, we expect Prethident Traump to arrive to 0:14:55.040 --> 0:14:59.000 it well late Saturday night or on Sunday. You know, 0:14:59.480 --> 0:15:02.400 it will be first visit during this term, and I 0:15:02.440 --> 0:15:04.920 think for him it's very important. You know, he was 0:15:05.040 --> 0:15:07.400 very involved with the issue of the hostages. You know, 0:15:07.480 --> 0:15:11.320 he met with the families, he asked about their medical conditions, 0:15:11.760 --> 0:15:14.200 and we have to give him credit for that, and 0:15:14.480 --> 0:15:17.120 it speaks volume that he comes to the region and 0:15:17.200 --> 0:15:20.640 we have to be thankful not only to his leadership, 0:15:20.640 --> 0:15:23.360 but the fact that now we can speak about expanding 0:15:23.440 --> 0:15:24.440 the Abraham accodes. 0:15:24.760 --> 0:15:27.040 You know, after we will finish this war, is really 0:15:27.040 --> 0:15:27.800 a peaceful nation. 0:15:28.280 --> 0:15:30.640 We want to build bridges, we want to sign more 0:15:30.680 --> 0:15:33.920 peace accordes, and I think today when President's ramping in 0:15:33.960 --> 0:15:38.400 the White House and in Jerusalem, we can start exploring 0:15:38.440 --> 0:15:40.160 the opportunities. 0:15:39.600 --> 0:15:42.280 When it comes to the first phase of this peace agreement, 0:15:42.320 --> 0:15:45.400 where exactly do you see the line where the idea 0:15:45.720 --> 0:15:46.520 will withdraw to. 0:15:47.960 --> 0:15:49.560 Well, that was negotiated. 0:15:49.680 --> 0:15:53.560 You know, we made some compromises over there over that issue. 0:15:53.560 --> 0:15:57.440 On the last days. Basically we're going to pull out 0:15:57.480 --> 0:16:01.200 from the cities. And you know, we have no intention 0:16:01.320 --> 0:16:03.320 to stay in Gaza. We don't want to be there, 0:16:03.800 --> 0:16:06.160 and we will intend to pull out completely. But it 0:16:06.200 --> 0:16:09.560 will happen gradually when we will see that actually Hamas 0:16:09.720 --> 0:16:12.840 is giving away, it's a grip of the of the 0:16:12.920 --> 0:16:15.680 Gatherans and allowing international. 0:16:15.000 --> 0:16:16.080 Forces to take over. 0:16:16.440 --> 0:16:20.440 We care about our security, that's the reason we moved 0:16:20.480 --> 0:16:21.160 into Gaza. 0:16:22.080 --> 0:16:25.120 You're the ambassador to the United Nations, where a number 0:16:25.160 --> 0:16:30.480 of world leaders walked out when Natanya, who was speaking just. 0:16:30.440 --> 0:16:31.600 A couple of weeks ago. 0:16:31.880 --> 0:16:34.280 I'm just wondering how difficult you think it's going to 0:16:34.280 --> 0:16:37.280 be the repair Israel's relationship with the rest of the world, 0:16:37.360 --> 0:16:39.480 given some of the animosity that we've seen of late. 0:16:40.840 --> 0:16:42.800 I think we will do it very fast. You know, 0:16:43.240 --> 0:16:46.640 we have strong relationship with so many countries. Many of them, 0:16:46.840 --> 0:16:49.480 you know, made mistakes. You know, we saw the difference 0:16:49.560 --> 0:16:54.040 between politics and diplomacy. Some leaders like Macron and others 0:16:54.360 --> 0:16:56.960 came to the UN for the show for the declarations 0:16:57.200 --> 0:17:00.480 President Trump and primarily to NATANIAO dealt with out call 0:17:00.560 --> 0:17:04.160 diplomacy and both resorts. So I'm sure that very fast 0:17:04.200 --> 0:17:07.200 we will be able to work with those countries, continue 0:17:07.200 --> 0:17:10.080 to contribute to developing countries. You know, we have a 0:17:10.160 --> 0:17:12.159 lot to do, a lot to share. We paid the 0:17:12.200 --> 0:17:14.560 heavy price, and I have to mention the price we paid. 0:17:14.640 --> 0:17:18.359 More than one thousandthologists died since October seventh. 0:17:18.720 --> 0:17:22.200 It's painful for us, but we are strong and we prevailed. 0:17:22.840 --> 0:17:26.160 And I'm also wondering about whether there have been any 0:17:26.200 --> 0:17:31.359 discussions to restart talks to normalize relations between Israel and 0:17:31.440 --> 0:17:34.560 some of your other Middle East neighbors, and thinking of 0:17:34.560 --> 0:17:37.200 Saudi Arabia, where that was clearly a discussion before this. 0:17:37.640 --> 0:17:38.840 But others as well. 0:17:39.000 --> 0:17:40.800 Is that already on the table or is that a 0:17:40.840 --> 0:17:41.600 long ways off? 0:17:42.800 --> 0:17:44.560 We definitely expected to happen. 0:17:44.880 --> 0:17:47.879 You know, first we have to stabilize the situation, to 0:17:47.960 --> 0:17:50.640 make sure that actually Hamas is out of the game. 0:17:50.720 --> 0:17:52.679 You know, it's not a given. You know, we have 0:17:52.760 --> 0:17:54.400 to make sure that out of the game. 0:17:54.880 --> 0:17:56.919 And I think it will be the interest of Israel, 0:17:57.119 --> 0:17:59.639 the US, and many moderatest countries. 0:17:59.280 --> 0:17:59.920 To move forward. 0:18:00.440 --> 0:18:02.720 And it's important to mention that, you know, the Abraham 0:18:02.880 --> 0:18:07.280 Coos countries sticks to the peace agreement we signed with them, 0:18:07.680 --> 0:18:10.680 even though it was challenging and difficult for them during 0:18:10.720 --> 0:18:12.040 the war, and we appreciate that. 0:18:12.640 --> 0:18:16.720 Are you concerned with a fragile relationship with Egypt? Earlier 0:18:16.840 --> 0:18:20.840 in September, we had President LCCI talk about the fact 0:18:20.840 --> 0:18:22.960 that Israel was a quote enemy, and we've seen a 0:18:22.960 --> 0:18:26.800 lot of acrimonious statements and individuals saying it's almost the 0:18:26.880 --> 0:18:29.560 closest these two countries have been to war since nineteen 0:18:29.640 --> 0:18:30.280 seventy nine. 0:18:31.320 --> 0:18:34.360 Now we have a stronger bond with the Egyptian government. 0:18:34.800 --> 0:18:37.720 You know, we know that during the war it wasn't 0:18:37.800 --> 0:18:40.680 the domestic politics some of those leaders and they had 0:18:40.720 --> 0:18:44.399 to play the game. But we collaborate with Egyptians and 0:18:44.440 --> 0:18:46.879 I think now we should aim to expending peace. 0:18:47.240 --> 0:18:48.520 That's our goal in the future. 0:18:49.160 --> 0:18:52.280 Well, when it comes to Egypt and Cutter and United 0:18:52.280 --> 0:18:55.040 Arab Emirates, which you already have a peace agreement with, 0:18:55.280 --> 0:18:58.960 how do you see these countries working with Israel when 0:18:59.000 --> 0:19:04.160 it comes to face two and three of rebuilding Gaza, Well. 0:19:04.119 --> 0:19:05.439 I think it will be more than that. 0:19:05.600 --> 0:19:08.720 It will require the involvement of more countries and I 0:19:08.760 --> 0:19:10.679 cannot name name it, but we are talking with the 0:19:11.000 --> 0:19:14.240 major players that are willing to contribute to the efforts 0:19:14.280 --> 0:19:18.560 for the reconstruction of Gada. And it's not only physical reconstruction. 0:19:18.960 --> 0:19:23.000 We have to build the environment, a society that will 0:19:23.000 --> 0:19:27.040 not glorify terrorism. You know, for twenty years Hamas took 0:19:27.640 --> 0:19:30.520 the people of Gada hostage, and I think now Dava 0:19:30.720 --> 0:19:33.359 the option to build a better future and have to 0:19:33.359 --> 0:19:36.280 be responsible about it and not allow radicals to take 0:19:36.320 --> 0:19:37.160 over Gada again. 0:19:40.080 --> 0:19:40.720 Stay with us. 0:19:41.040 --> 0:19:43.520 More plan Taxavidance coming up after this. 0:19:52.760 --> 0:19:55.399 Turning back to the broader markets, the stocks trade near 0:19:55.560 --> 0:19:59.639 all time highs. Richard Bernstein of RB Advisors, writing, markets 0:19:59.640 --> 0:20:02.560 are ins some sort of speculative fervor. It is very 0:20:02.600 --> 0:20:05.400 obvious that investors are not risk averse. 0:20:05.680 --> 0:20:07.960 Richard joins us now is probably an understatement. 0:20:08.040 --> 0:20:10.399 Richard, I am curious whether you think it's gone too 0:20:10.480 --> 0:20:13.119 far or do you get on the train and follow momentum. 0:20:13.840 --> 0:20:16.359 So, Lisa, good morning, It's great to be with you. 0:20:16.400 --> 0:20:18.840 I think the problem with being a momentum investor is 0:20:18.960 --> 0:20:21.639 never trying to figure out should we get on the train. 0:20:21.760 --> 0:20:23.520 I mean, that's easy. You can see what's going on 0:20:24.440 --> 0:20:27.040 the moment. The key to momentum investing is knowing when 0:20:27.119 --> 0:20:28.960 to sell and when to get off right, Like who 0:20:29.000 --> 0:20:31.760 sold technology stocks at the peak of the bubble in 0:20:31.800 --> 0:20:35.200 March of two thousand. That would be the perfect momentum investor. 0:20:35.280 --> 0:20:38.760 And we know from history that people are very bad sellers. 0:20:38.800 --> 0:20:41.960 And so I think what the speculative environment really shows 0:20:42.400 --> 0:20:44.600 is that the most important part of a portfolio right 0:20:44.640 --> 0:20:48.399 now is diversification. You may want to play momentum, but 0:20:48.520 --> 0:20:51.320 don't overplay momentum. 0:20:50.640 --> 0:20:53.600 To just underscore what you're saying are you selling tech 0:20:53.600 --> 0:20:54.440 stocks right now? 0:20:55.480 --> 0:20:59.840 So we have been famous or infamous for not overweighting them, 0:21:00.200 --> 0:21:03.359 So I don't think we have to sell anything because 0:21:03.359 --> 0:21:06.199 we're not overweight. I think what we've done, though, what 0:21:06.200 --> 0:21:09.480 we've done very effectively in our portfolios is find other 0:21:09.560 --> 0:21:13.160