1 00:00:00,520 --> 00:00:03,680 Speaker 1: Live from our Nation's All Talk here in Washington, d C. 2 00:00:03,880 --> 00:00:07,720 Speaker 1: Turns to President elect Joe Biden's administration. Historically speaking, the 3 00:00:07,720 --> 00:00:10,280 Speaker 1: markets have performed better when there is divided government. The 4 00:00:10,360 --> 00:00:13,960 Speaker 1: biggest pressure for physical stimulus is an off taking cases. 5 00:00:14,080 --> 00:00:19,080 Speaker 1: Bloomberg Sound On, the insiders, the influencers, the inside. Biden 6 00:00:19,160 --> 00:00:22,000 Speaker 1: has Thomas again and again it he will unite the 7 00:00:22,040 --> 00:00:25,520 Speaker 1: country's state government's control elections left in the constitution. I 8 00:00:25,560 --> 00:00:29,480 Speaker 1: think that we can expect a smooth, thoughtful, methodical transition. 9 00:00:29,760 --> 00:00:34,240 Speaker 1: This is Bloomberg Sound On with Kevin Shirley on Bloomberg 10 00:00:35,520 --> 00:00:38,080 Speaker 1: and one oh five point seven m h D two. 11 00:00:38,200 --> 00:00:42,680 Speaker 1: President Elect Joe Biden ready's his economic team. We've got 12 00:00:42,720 --> 00:00:45,280 Speaker 1: the list, We've got the names, We've got the reaction 13 00:00:45,560 --> 00:00:49,280 Speaker 1: and fresh reaction from Gary Cohne, remember him, the former 14 00:00:49,360 --> 00:00:53,560 Speaker 1: National Economic Council Director, speaks with exclusively with our very 15 00:00:53,560 --> 00:00:55,880 Speaker 1: own Emily Chang. We've got a lot to get through. 16 00:00:56,080 --> 00:00:59,120 Speaker 1: Red headline crossing the Bloomberg terminal. Just within the last 17 00:00:59,160 --> 00:01:04,120 Speaker 1: sixty seconds, Wisconsin makes Joe Biden win official and the 18 00:01:04,160 --> 00:01:08,640 Speaker 1: governor will name the electors again. Wisconsin has now made 19 00:01:08,959 --> 00:01:12,319 Speaker 1: the Joe Biden win official. UH and the governor is 20 00:01:12,360 --> 00:01:14,959 Speaker 1: set to name the electors. No surprise there, but figured 21 00:01:15,440 --> 00:01:19,320 Speaker 1: we would bring you that breaking news headline. Back now 22 00:01:19,360 --> 00:01:22,080 Speaker 1: to the lead story tonight we begin as President elect 23 00:01:22,360 --> 00:01:25,240 Speaker 1: Joe Biden rolled out the first set of nominations for 24 00:01:25,280 --> 00:01:29,360 Speaker 1: his economic team, formally announcing his selection of Janet Yellen 25 00:01:29,600 --> 00:01:33,600 Speaker 1: to be Treasury Secretary, Nara Tanden to lead the Office 26 00:01:33,640 --> 00:01:36,959 Speaker 1: of Management and Budgets, and Cecilia Rouse to head the 27 00:01:37,000 --> 00:01:40,959 Speaker 1: Council of Economic Advisors. Biden also announced his intent to 28 00:01:41,000 --> 00:01:44,080 Speaker 1: nominate at A ballet at A Yemo, a former senior 29 00:01:44,080 --> 00:01:48,040 Speaker 1: advisor at Black Rock, to be Deputy Treasury Secretary. At 30 00:01:48,040 --> 00:01:51,560 Speaker 1: A Yamo is a Nigerian born attorney and president of 31 00:01:51,600 --> 00:01:56,360 Speaker 1: the Obama Foundation. It All comes as Federal Reserve Chairman 32 00:01:56,440 --> 00:02:00,720 Speaker 1: Jerome Powell is cautioning lawmakers that the US economy remains 33 00:02:00,880 --> 00:02:05,120 Speaker 1: in a damaged and uncertain state despite progress made in 34 00:02:05,200 --> 00:02:10,000 Speaker 1: the development of the COVID nineteen vaccines, and speaking about 35 00:02:10,040 --> 00:02:14,080 Speaker 1: those vaccines, we have sound on the development of those vaccines. 36 00:02:14,520 --> 00:02:17,800 Speaker 1: Direct Dr Anthony Fauci saying over the weekends to Fox 37 00:02:17,880 --> 00:02:20,440 Speaker 1: New Sunday that there's a light at the end of 38 00:02:20,520 --> 00:02:24,160 Speaker 1: the tunnel. There is light at the end of the 39 00:02:24,240 --> 00:02:28,359 Speaker 1: tunnel because we will really be seeing vaccines soon. We 40 00:02:28,600 --> 00:02:32,520 Speaker 1: likely almost certainly are going to be vaccinating a portion 41 00:02:33,080 --> 00:02:36,720 Speaker 1: of the individuals in the first Priority before the end 42 00:02:36,800 --> 00:02:40,480 Speaker 1: of December. Meanwhile, the U S Surgeon General Jerome Adams 43 00:02:40,600 --> 00:02:43,880 Speaker 1: is promising a rapid December vaccine as well on Fox 44 00:02:43,960 --> 00:02:47,720 Speaker 1: New Sunday within twenty four forty eight hours after submitting 45 00:02:47,720 --> 00:02:51,040 Speaker 1: their EU way, we from a federal perspective, have promised 46 00:02:51,080 --> 00:02:52,960 Speaker 1: and have fed everything up so that we can quickly 47 00:02:53,000 --> 00:02:56,320 Speaker 1: review the v wave and hopefully start sending out vaccines 48 00:02:56,760 --> 00:03:00,280 Speaker 1: again within eight hours. But even as the vaccine nation 49 00:03:00,360 --> 00:03:04,280 Speaker 1: effort continues to intensify and fed share, J Powell warns 50 00:03:04,280 --> 00:03:08,079 Speaker 1: about the economic long term effects of the virus. Former 51 00:03:08,200 --> 00:03:12,639 Speaker 1: National Economic Council Director Gary Khne says that Treasury soon 52 00:03:12,720 --> 00:03:16,080 Speaker 1: to be Treasury Secretary or likely Treasury Secretary Janet Yellen, 53 00:03:16,480 --> 00:03:19,320 Speaker 1: is going to have to get Congressional help in order 54 00:03:19,400 --> 00:03:23,200 Speaker 1: to get more stimulus going. And Gary Cone spoke exclusively 55 00:03:23,240 --> 00:03:26,960 Speaker 1: to Bloomberg's Emily Chang. I worked with Cha Yellen when 56 00:03:27,040 --> 00:03:30,080 Speaker 1: she was Chairman of the Federal Reserve. We worked extremely 57 00:03:30,160 --> 00:03:32,160 Speaker 1: well together. When I was in the White House. We 58 00:03:32,240 --> 00:03:35,320 Speaker 1: had a very good working relationship. I find her to 59 00:03:35,440 --> 00:03:39,120 Speaker 1: be very practical, very pragmatic, have a very deep and 60 00:03:39,280 --> 00:03:42,440 Speaker 1: broad understanding of the U. S. Economy, and I'm very 61 00:03:42,480 --> 00:03:44,160 Speaker 1: confident that she's going to step in and do a 62 00:03:44,280 --> 00:03:46,920 Speaker 1: very good job. She needs the help, though, she needs 63 00:03:47,000 --> 00:03:51,680 Speaker 1: help of Congress to get stimulus going. Wendy Benjaminson is 64 00:03:51,720 --> 00:03:55,120 Speaker 1: a Bloomberg Politics editor and she joins US now. So 65 00:03:55,240 --> 00:03:57,040 Speaker 1: there's the lay of the land, Wendy, as we begin 66 00:03:57,120 --> 00:04:01,560 Speaker 1: another week in Washington, d C. Do you anticipate, based 67 00:04:01,600 --> 00:04:05,000 Speaker 1: upon Bloomberg's reporting, any significant hurdles for someone like a 68 00:04:05,120 --> 00:04:08,960 Speaker 1: Yelling to get confirmed to the Treasury Department. Hi, Kevin, 69 00:04:09,080 --> 00:04:12,640 Speaker 1: thanks for having me. Um. I don't really see a 70 00:04:12,840 --> 00:04:16,480 Speaker 1: huge hurdle ahead for Janet Yellen. I think, you know, 71 00:04:16,800 --> 00:04:21,360 Speaker 1: people will be making some noises about her because artists 72 00:04:21,360 --> 00:04:24,680 Speaker 1: in Washington. Josh Holley, the Senator from Missouri, came out 73 00:04:24,720 --> 00:04:28,360 Speaker 1: and said he worries that she's anti worker and pro corporate, 74 00:04:28,480 --> 00:04:30,640 Speaker 1: which is a weird thing to hear a Republicans say 75 00:04:30,680 --> 00:04:34,280 Speaker 1: about a Democrat. But it's twenty so you know, anybody 76 00:04:34,320 --> 00:04:36,560 Speaker 1: can say anything. Um, you know, so there's gonna be 77 00:04:36,640 --> 00:04:40,599 Speaker 1: some random opposition who are here and there. But Janet 78 00:04:40,680 --> 00:04:44,839 Speaker 1: Yellen I believe is universally admired and respected and will 79 00:04:45,400 --> 00:04:49,360 Speaker 1: you know, we'll be confirmed. Near at Tandon is another story. Well, 80 00:04:49,440 --> 00:04:51,040 Speaker 1: that's where I want to go because for those who 81 00:04:51,080 --> 00:04:53,960 Speaker 1: are not familiar with Near attendant, she of course is 82 00:04:54,040 --> 00:04:57,240 Speaker 1: someone who leads the Center for American Progress, which of 83 00:04:57,320 --> 00:05:00,960 Speaker 1: course is a dominant left think hank here in Washington, 84 00:05:01,040 --> 00:05:04,760 Speaker 1: d C. And they have a history with sometimes on policy, 85 00:05:05,120 --> 00:05:07,640 Speaker 1: clashing with the Bernie Sanders wing of the Democratic Party. 86 00:05:07,680 --> 00:05:10,920 Speaker 1: What do we know on that front, Well, Near at handon, yes, 87 00:05:11,040 --> 00:05:15,240 Speaker 1: she worked for Hillary Clinton in ten and she was uh, 88 00:05:15,960 --> 00:05:18,680 Speaker 1: they did clash with with the Bernie Sanders people. And 89 00:05:18,760 --> 00:05:20,640 Speaker 1: you know, as you all remember, that was a very 90 00:05:20,760 --> 00:05:24,080 Speaker 1: bitter fight for the nomination and the Sanders people feel 91 00:05:24,120 --> 00:05:25,880 Speaker 1: it was stolen from them. So there's there was still 92 00:05:25,960 --> 00:05:29,200 Speaker 1: some ill will there um, But I think in the 93 00:05:29,440 --> 00:05:33,520 Speaker 1: interest of Democratic unity, which at least for the moment 94 00:05:33,680 --> 00:05:35,880 Speaker 1: is still a thing. We can talk again in February 95 00:05:35,920 --> 00:05:38,880 Speaker 1: about whether that still exists, but for the moment it's 96 00:05:38,880 --> 00:05:42,120 Speaker 1: still think and progressive Senators Elizabeth Warren and other people 97 00:05:42,200 --> 00:05:44,680 Speaker 1: like that have begun to line up behind near at handon. 98 00:05:44,800 --> 00:05:47,159 Speaker 1: So there are others who were taking a little pod 99 00:05:47,160 --> 00:05:50,279 Speaker 1: shots and showing video of her UNC stand talking about 100 00:05:50,360 --> 00:05:54,000 Speaker 1: Social Security cuts, which of course Medicare cuts, which would 101 00:05:54,040 --> 00:05:58,920 Speaker 1: not be UM good good news for progressive UM. But 102 00:05:59,040 --> 00:06:01,320 Speaker 1: I think she's going to also have a hard problem 103 00:06:01,400 --> 00:06:04,600 Speaker 1: with Republicans on the right. An age of John corn 104 00:06:04,680 --> 00:06:07,239 Speaker 1: And last night said her nomination is dead on arrival. 105 00:06:07,720 --> 00:06:11,480 Speaker 1: So I Republicans main maintain control of the Senate. That 106 00:06:11,600 --> 00:06:14,760 Speaker 1: could be UM, they could be a big problem. But 107 00:06:15,360 --> 00:06:19,479 Speaker 1: but Joe Biden knows the Senate and he saw this coming, 108 00:06:19,520 --> 00:06:22,360 Speaker 1: I believe, and I think he may be setting it 109 00:06:22,520 --> 00:06:26,960 Speaker 1: up so that they can say, oh, look, you mean, 110 00:06:27,040 --> 00:06:30,360 Speaker 1: Republican senators, you won't confirm this daughter of immigrants who 111 00:06:30,440 --> 00:06:33,280 Speaker 1: grew up unsubsidized housing and on food stamps. You know. 112 00:06:33,839 --> 00:06:36,520 Speaker 1: And she has this great, compelling personal story and she 113 00:06:36,640 --> 00:06:38,800 Speaker 1: wants to help people, and you're going to throw her 114 00:06:38,800 --> 00:06:43,160 Speaker 1: out on the street. Fine, you know. Yeah, But typically, 115 00:06:43,360 --> 00:06:47,680 Speaker 1: and and and in in the past, typically there's only 116 00:06:47,800 --> 00:06:50,080 Speaker 1: one or two or a handful in which the opposition 117 00:06:50,120 --> 00:06:53,440 Speaker 1: party is able to stop from getting confirmed. So do 118 00:06:53,640 --> 00:06:56,559 Speaker 1: you think that President elect Biden would rather see Jenny 119 00:06:56,640 --> 00:06:59,000 Speaker 1: Yelly confirmed than you or Candon, not that there's a 120 00:06:59,040 --> 00:07:03,160 Speaker 1: calculation being but to your point, yes, I think I 121 00:07:03,240 --> 00:07:05,400 Speaker 1: think Kevin, you're absolutely right. I think you would much 122 00:07:05,520 --> 00:07:07,800 Speaker 1: rather have yelled and failed through have a lot of 123 00:07:07,839 --> 00:07:10,760 Speaker 1: these other people failed through that you mentioned. Um in 124 00:07:10,920 --> 00:07:13,800 Speaker 1: Cecilia Rouse is head of the Council of Economic Advisors, 125 00:07:13,800 --> 00:07:16,640 Speaker 1: should be the first African American woman to have that group. 126 00:07:17,080 --> 00:07:20,000 Speaker 1: And so if near at Tandon doesn't get confirmed, I'm 127 00:07:20,080 --> 00:07:24,520 Speaker 1: not sure it would be the worst day. Very instrumental 128 00:07:24,720 --> 00:07:27,520 Speaker 1: in helping to create the Affordable Care Act, which of 129 00:07:27,600 --> 00:07:31,960 Speaker 1: course is something very controversial with Republicans. Yes, yes she was, 130 00:07:32,040 --> 00:07:34,200 Speaker 1: and that will certainly be brought up again and again 131 00:07:34,280 --> 00:07:36,800 Speaker 1: and again. So if if this is one that gets 132 00:07:36,920 --> 00:07:40,160 Speaker 1: left on the roadside, it maybe, but um, we will 133 00:07:40,240 --> 00:07:45,000 Speaker 1: also see how willing the Republican Republican Senate is willing 134 00:07:45,040 --> 00:07:47,080 Speaker 1: to work with Joe Biden, as he has promised throughout 135 00:07:47,120 --> 00:07:49,560 Speaker 1: the campaign that you know, the fever will break and 136 00:07:49,600 --> 00:07:52,000 Speaker 1: they'll all work together again like they did in the seventies. 137 00:07:52,360 --> 00:07:55,760 Speaker 1: Do you think or which which nomination as of right 138 00:07:55,840 --> 00:07:59,120 Speaker 1: now has the most risk? Is it mayorcis is it Tandon? 139 00:07:59,280 --> 00:08:00,800 Speaker 1: Or there is there an their name that you're hearing 140 00:08:01,160 --> 00:08:03,320 Speaker 1: could have a could have a hurdle from this economic 141 00:08:03,400 --> 00:08:06,400 Speaker 1: team At the moment, I would fear the most on 142 00:08:06,480 --> 00:08:09,120 Speaker 1: this economic team from for New York handon. Okay, let 143 00:08:09,160 --> 00:08:10,800 Speaker 1: me ask you a follow up. What's what happened with 144 00:08:10,880 --> 00:08:13,200 Speaker 1: President elect Biden's ankle today? I saw it all over 145 00:08:13,280 --> 00:08:17,600 Speaker 1: my social Oh, he broke his stood last night. He 146 00:08:18,400 --> 00:08:21,720 Speaker 1: was playing with his dog and he tripped. So said 147 00:08:21,840 --> 00:08:25,240 Speaker 1: it was like, dude, you know you're too old. Then 148 00:08:25,280 --> 00:08:27,480 Speaker 1: the rocking chair, Throw the ball to the dog, don't 149 00:08:27,520 --> 00:08:30,280 Speaker 1: run around with him. I don't even know what kind 150 00:08:30,280 --> 00:08:31,760 Speaker 1: of okay I'm learning. See, this is why we love 151 00:08:31,760 --> 00:08:34,400 Speaker 1: having Wendy Benjaminson on, She's the Bloomberg Politics editor, Wendy. 152 00:08:34,559 --> 00:08:36,800 Speaker 1: What kind of dog just President Elect Joe Biden have? 153 00:08:37,160 --> 00:08:39,640 Speaker 1: He has a German shepherd and he's also bringing a 154 00:08:39,760 --> 00:08:44,280 Speaker 1: cat to the White House? Cats? I did see who's 155 00:08:44,320 --> 00:08:46,880 Speaker 1: an aid to uh? The SuDS to be first Lady? 156 00:08:47,200 --> 00:08:49,160 Speaker 1: Do you call them the first lady elect? I don't. 157 00:08:49,200 --> 00:08:52,320 Speaker 1: I don't know the first lady to be first Lady 158 00:08:52,400 --> 00:08:55,520 Speaker 1: doctor Jill Biden. I think we should retire that term 159 00:08:55,600 --> 00:08:58,280 Speaker 1: and just call her Jill Biden to me. But okay, 160 00:08:58,800 --> 00:09:00,920 Speaker 1: so what did we know the pets names in the 161 00:09:01,000 --> 00:09:04,800 Speaker 1: last minute that I have with you. I'll find out. 162 00:09:05,000 --> 00:09:06,560 Speaker 1: I'll find out in the break and then I'll how 163 00:09:06,600 --> 00:09:09,600 Speaker 1: about this all Bloomberg email you on the terminal although 164 00:09:09,880 --> 00:09:12,679 Speaker 1: I be you. How's that I'm using my terminal to 165 00:09:12,800 --> 00:09:15,760 Speaker 1: not only find all of the market data but also 166 00:09:16,200 --> 00:09:20,280 Speaker 1: to I be with Wendy Benjaminson. Uh oh, his dog's 167 00:09:20,360 --> 00:09:25,079 Speaker 1: name is Major according to our producer, uh, Matt Shirley, 168 00:09:25,240 --> 00:09:26,800 Speaker 1: and we know the cat's name. We don't know the 169 00:09:26,840 --> 00:09:28,400 Speaker 1: cat's name, so you're gonna have to stick around, all right, 170 00:09:28,400 --> 00:09:31,600 Speaker 1: Wendy Benjaminson, thank you so much for for joining us 171 00:09:31,640 --> 00:09:33,280 Speaker 1: and giving us an update as well as the health 172 00:09:33,400 --> 00:09:36,920 Speaker 1: update on all things COVID as well as ankles and whatnot. 173 00:09:37,440 --> 00:09:41,079 Speaker 1: And uh, we'll catch up later, Wendy, I hope you 174 00:09:41,120 --> 00:09:45,040 Speaker 1: had a great Thanksgiving. Download the Boomberg Sound sound on 175 00:09:45,120 --> 00:09:47,120 Speaker 1: podcast on Apple itcheans a, Bloomberg dot Com, or by 176 00:09:47,160 --> 00:09:50,199 Speaker 1: downloading the Bloomberg app. You can also find me on 177 00:09:50,400 --> 00:09:52,880 Speaker 1: Radio dot com, I Heart Radio, and Spotify. My name 178 00:09:52,960 --> 00:09:55,439 Speaker 1: is Kevin Cerelian, the chief Washington correspondent for Bloomberg TV. 179 00:09:55,520 --> 00:10:18,960 Speaker 1: And Radio, and you're listening to Bloomberg. You're listening to Bloomberg. 180 00:10:19,080 --> 00:10:23,120 Speaker 1: Sound On with Kevin Surreley on Bloomberg and one oh 181 00:10:23,240 --> 00:10:26,040 Speaker 1: five point seven f M h D two. My name 182 00:10:26,120 --> 00:10:28,840 Speaker 1: is Kevin Curreley. I'm the chief Washington correspondent for Bloomberg 183 00:10:28,880 --> 00:10:31,679 Speaker 1: Television and for Bloomberg Radio. I hope everybody had a 184 00:10:31,800 --> 00:10:37,160 Speaker 1: great Thanksgiving. Alison Waller in The New York Times. First, 185 00:10:37,240 --> 00:10:40,920 Speaker 1: it was announced that Champ and Major, the German shepherds 186 00:10:41,000 --> 00:10:44,560 Speaker 1: belonging to the President elect and future First Lady Jill Biden, 187 00:10:44,559 --> 00:10:47,719 Speaker 1: would room the White House, and now, after an absence 188 00:10:47,920 --> 00:10:52,320 Speaker 1: of more absence, after an absence of more than a decade, 189 00:10:52,559 --> 00:10:55,520 Speaker 1: a cat is said to also join the ranks of 190 00:10:55,559 --> 00:11:01,559 Speaker 1: presidential pets. Jane Pauli of CBS Sunday Morning reported on 191 00:11:01,679 --> 00:11:05,959 Speaker 1: Twitter on Friday, I'd love to get a cat. That's 192 00:11:06,000 --> 00:11:09,400 Speaker 1: what Dr Biden told Fox five in Washington, d C. Exclusively. 193 00:11:09,720 --> 00:11:13,240 Speaker 1: I love having animals around the house. No one knows 194 00:11:13,280 --> 00:11:17,560 Speaker 1: what kind of cat, but two dogs and a cat. Um. Okay, Now, 195 00:11:17,640 --> 00:11:20,080 Speaker 1: let's pivot into my Bloomberg terminal to talk about the markets. 196 00:11:20,520 --> 00:11:24,239 Speaker 1: Uh U S stocks fell from records as investors assessed 197 00:11:24,360 --> 00:11:28,160 Speaker 1: the prospects for risk assets. After a blistering month long rally, 198 00:11:28,520 --> 00:11:31,360 Speaker 1: the dollar strengthened. The SMP five D dropped the most 199 00:11:31,679 --> 00:11:35,280 Speaker 1: in more than a week, though the benchmark index still 200 00:11:35,360 --> 00:11:39,680 Speaker 1: registered it's best month since April. Global stocks and American 201 00:11:39,760 --> 00:11:44,240 Speaker 1: small caps posted their best months on record. Broad selling 202 00:11:44,320 --> 00:11:47,400 Speaker 1: sent the dal Jones Industrial average lower. The check heavy 203 00:11:47,480 --> 00:11:52,079 Speaker 1: Nasdaq indexes that trailed in November fared better, briefly touching 204 00:11:52,200 --> 00:11:56,640 Speaker 1: another record high. On Monday, Gold slumped and bitcoin rallied 205 00:11:56,679 --> 00:12:00,040 Speaker 1: back to an all time high. Joining us now on 206 00:12:00,120 --> 00:12:04,319 Speaker 1: the hot line. Mark Summerlin, economist and managing partner of 207 00:12:04,520 --> 00:12:07,640 Speaker 1: even Slow Macro in Washington, Mark, thanks for being here. 208 00:12:07,720 --> 00:12:10,959 Speaker 1: What happened in the markets today? Well, I think you 209 00:12:11,080 --> 00:12:12,520 Speaker 1: hit on it, Kevin, And first of all, thank you 210 00:12:12,559 --> 00:12:15,040 Speaker 1: for having me when you talked about the blistering month 211 00:12:15,080 --> 00:12:17,839 Speaker 1: that we had in November. Um. And I think that 212 00:12:17,960 --> 00:12:21,480 Speaker 1: the market basically repriced for um, the hope of the 213 00:12:21,559 --> 00:12:24,880 Speaker 1: vaccine coming for the election certainty, and a bunch of 214 00:12:24,920 --> 00:12:27,920 Speaker 1: other things, and so there was a normal pause. UM. 215 00:12:28,000 --> 00:12:31,240 Speaker 1: But I do think there is a also looking forward 216 00:12:31,400 --> 00:12:34,720 Speaker 1: to this brief period that we're going to have probably 217 00:12:34,800 --> 00:12:38,440 Speaker 1: of economic contraction coming up, and I think that markets 218 00:12:38,480 --> 00:12:42,640 Speaker 1: are starting to realize that expectations for Friday's employment report 219 00:12:42,679 --> 00:12:45,720 Speaker 1: are just way too high. And one of the technical 220 00:12:45,800 --> 00:12:49,959 Speaker 1: aspects to this is that the November employment report normally 221 00:12:50,080 --> 00:12:53,800 Speaker 1: has a very big seasonal adjustment in it um because 222 00:12:53,880 --> 00:12:57,480 Speaker 1: of the normal Christmas hiring that happens or holiday season hiring, 223 00:12:58,160 --> 00:13:01,400 Speaker 1: and that adjust the number by about four hundred thousand jobs. 224 00:13:01,800 --> 00:13:03,640 Speaker 1: And so it's a it's a big wild card in 225 00:13:03,800 --> 00:13:06,160 Speaker 1: terms of what number we're going to get. Expectations for 226 00:13:06,240 --> 00:13:08,680 Speaker 1: five hundred thousand, but it could be something much closer 227 00:13:08,760 --> 00:13:12,599 Speaker 1: to zero. It's it's well zero, and especially you know, 228 00:13:12,720 --> 00:13:15,199 Speaker 1: there's so many so much unknown, and and we won't 229 00:13:15,360 --> 00:13:17,960 Speaker 1: have well I actually let me ask you this, Will 230 00:13:18,040 --> 00:13:20,280 Speaker 1: we have the data from Black Friday and Cyber Monday 231 00:13:20,440 --> 00:13:22,319 Speaker 1: in this No, we won't. We'll have to wait another month. 232 00:13:22,559 --> 00:13:24,640 Speaker 1: But but even the shift in retail and what we're 233 00:13:24,679 --> 00:13:26,520 Speaker 1: seeing on cyber I mean, there's just so much information 234 00:13:26,600 --> 00:13:29,160 Speaker 1: that we don't have. I think, I think that's right, 235 00:13:29,520 --> 00:13:31,959 Speaker 1: And it's just it's really just the how much the 236 00:13:32,600 --> 00:13:36,480 Speaker 1: pandemic and shut downs is is screwing with how the 237 00:13:36,600 --> 00:13:41,200 Speaker 1: government calculates the numbers and not from any any conspiracy 238 00:13:41,320 --> 00:13:43,520 Speaker 1: or anything like that, which will probably come out after 239 00:13:43,600 --> 00:13:47,000 Speaker 1: the number UM in terms of of of other less 240 00:13:47,040 --> 00:13:51,000 Speaker 1: credible websites UM. But it's just that there's this normal 241 00:13:51,160 --> 00:13:54,079 Speaker 1: process that you try to smooth out the data and 242 00:13:54,240 --> 00:13:57,240 Speaker 1: it's a big, big adjustment in November, and it's just 243 00:13:57,360 --> 00:13:59,320 Speaker 1: hard to get that right when a lot of people 244 00:13:59,440 --> 00:14:01,280 Speaker 1: just aren't going going out and shopping in person, So 245 00:14:01,360 --> 00:14:02,880 Speaker 1: a lot of the hiring is not going to be done. 246 00:14:03,240 --> 00:14:06,160 Speaker 1: Mark Southerland Summerland is with us. He is Mark summerlind 247 00:14:06,240 --> 00:14:09,679 Speaker 1: as a managing partner at even Flow Macro. He had 248 00:14:09,840 --> 00:14:12,760 Speaker 1: spent ten years as managing director of the Lindsay Group, 249 00:14:12,800 --> 00:14:15,439 Speaker 1: which is a global economic consulting firm, and during that 250 00:14:15,559 --> 00:14:18,959 Speaker 1: time he traveled extensively to Japan, China and Europe. He 251 00:14:19,080 --> 00:14:22,080 Speaker 1: also served in two thousand and one to two thousand 252 00:14:22,160 --> 00:14:24,800 Speaker 1: and two as the Deputy Assistant to the President for 253 00:14:25,000 --> 00:14:27,920 Speaker 1: Economic Policy as well as the Deputy Director of the 254 00:14:28,040 --> 00:14:31,840 Speaker 1: National Economic Council and the Bush Administration UH and so 255 00:14:32,600 --> 00:14:36,200 Speaker 1: we're grateful, beyond grateful to have him with us. I 256 00:14:36,280 --> 00:14:38,320 Speaker 1: want to play for you Mark a portion of the 257 00:14:38,800 --> 00:14:42,120 Speaker 1: an interview that my colleague Emily Chang did with Gary 258 00:14:42,240 --> 00:14:46,600 Speaker 1: Khaneh previously the Trump administration and about the need for 259 00:14:46,720 --> 00:14:51,120 Speaker 1: more economic stimulus. Tickle is UM. I desperately believe that 260 00:14:51,240 --> 00:14:54,600 Speaker 1: we need more stimulus, and we need more stimulus today. 261 00:14:55,360 --> 00:14:58,280 Speaker 1: I would beg Congress to go back to work and 262 00:14:58,440 --> 00:15:01,240 Speaker 1: pass the stimulus bill this week. There's no time like 263 00:15:01,320 --> 00:15:04,800 Speaker 1: the president. Dollars put back in consumers pockets would be 264 00:15:05,000 --> 00:15:08,520 Speaker 1: very very important. Mark Summerlin, do you do you believe 265 00:15:08,560 --> 00:15:13,480 Speaker 1: that we desperately need economic release? UM? We I think 266 00:15:13,520 --> 00:15:16,640 Speaker 1: everyone agrees that we meet need more relief and that 267 00:15:16,720 --> 00:15:18,800 Speaker 1: we need a bridge to get us through to April. 268 00:15:18,880 --> 00:15:20,760 Speaker 1: I think there's a lot of disagreement on what the 269 00:15:20,880 --> 00:15:24,480 Speaker 1: size is UM, and I can give you I can 270 00:15:24,480 --> 00:15:26,360 Speaker 1: give you ways of how I think about the size. 271 00:15:26,440 --> 00:15:29,520 Speaker 1: But more importantly, we had a pretty big bet placed 272 00:15:29,560 --> 00:15:34,080 Speaker 1: on the election and pre election, UM Secretary Minution had 273 00:15:34,200 --> 00:15:38,800 Speaker 1: offered UM Speaker Pelosi something close to two trillion dollars UM, 274 00:15:38,840 --> 00:15:42,000 Speaker 1: which she turned down based on an expectation of taking 275 00:15:42,040 --> 00:15:44,320 Speaker 1: back the House and I mean keeping the House and 276 00:15:44,400 --> 00:15:47,960 Speaker 1: taking back the Senate UM, which we still don't know 277 00:15:48,040 --> 00:15:50,720 Speaker 1: the outcome, but most likely is that that that bet 278 00:15:50,880 --> 00:15:53,400 Speaker 1: is going to have failed UM, and so do the 279 00:15:53,440 --> 00:15:56,240 Speaker 1: political realities in Washington are that it's not going to 280 00:15:56,320 --> 00:16:00,200 Speaker 1: be two trillion dollars um. Senator McConnell or which prety 281 00:16:00,280 --> 00:16:02,800 Speaker 1: leiter McConnell has said that he prefers five hundred billion, 282 00:16:02,880 --> 00:16:06,720 Speaker 1: and that's the amount that that unifies Republicans. And so 283 00:16:07,080 --> 00:16:10,240 Speaker 1: somewhere in between five hundred billion and one point eight 284 00:16:10,280 --> 00:16:12,800 Speaker 1: trillion there is a number that can be done. In 285 00:16:12,920 --> 00:16:15,120 Speaker 1: so far, just we have been unable to find a 286 00:16:16,000 --> 00:16:19,600 Speaker 1: solution that solves everyone's political needs. And even as we 287 00:16:19,680 --> 00:16:22,280 Speaker 1: go more geo politically, and and someone like a Janet 288 00:16:22,400 --> 00:16:25,720 Speaker 1: Yelling looks to get confirmation before the Senate Banking Committee 289 00:16:25,960 --> 00:16:28,440 Speaker 1: Republican control of course, to lead the Treasury Department, what 290 00:16:28,520 --> 00:16:31,000 Speaker 1: are you going to be looking for geo politically in 291 00:16:31,160 --> 00:16:35,760 Speaker 1: terms of how she'll navigate her international portfolio? Mark right? 292 00:16:35,800 --> 00:16:37,760 Speaker 1: I mean well, I think, first of all, I think 293 00:16:37,800 --> 00:16:41,480 Speaker 1: Republicans generally had a sigh of relief when UM Janet 294 00:16:41,560 --> 00:16:44,240 Speaker 1: Yellen was announced because her roots came from the Bill 295 00:16:44,280 --> 00:16:48,400 Speaker 1: Clinton administration as opposed to the modern monetary theory crowd UM. 296 00:16:48,640 --> 00:16:51,200 Speaker 1: And so her her confirmation hearing will be will be 297 00:16:51,360 --> 00:16:55,080 Speaker 1: pretty easy and and she'll she'll sail through. I think 298 00:16:55,560 --> 00:16:59,520 Speaker 1: the most interesting thing about um missy Ellen is that 299 00:17:00,520 --> 00:17:03,720 Speaker 1: she has changed her views over time UM. And that's 300 00:17:03,760 --> 00:17:06,119 Speaker 1: one of her strengths that as the world changes in 301 00:17:06,200 --> 00:17:09,840 Speaker 1: the macro environment changes, UM, she adopts to it. UM. 302 00:17:10,000 --> 00:17:13,280 Speaker 1: And so in the nineties she argued that fiscal contraction 303 00:17:13,359 --> 00:17:15,920 Speaker 1: with stimulus. Now she she takes the other sides. And 304 00:17:16,160 --> 00:17:19,680 Speaker 1: there's reasons for that. UM. But the biggest question that 305 00:17:19,840 --> 00:17:21,560 Speaker 1: is not known about her is what is she going 306 00:17:21,600 --> 00:17:25,080 Speaker 1: to say about the dollar? And as a former FED 307 00:17:25,160 --> 00:17:28,520 Speaker 1: chairman who believes that inflation is too low, saying that 308 00:17:28,640 --> 00:17:31,600 Speaker 1: she believes in the strong dollar is Larry Summers advocates 309 00:17:32,080 --> 00:17:34,640 Speaker 1: is not consistent at all UM, and so I think 310 00:17:34,680 --> 00:17:37,000 Speaker 1: that will be the biggest thing to watch about her 311 00:17:37,080 --> 00:17:40,879 Speaker 1: as she moves through her confirmation hearing process. So and 312 00:17:41,000 --> 00:17:43,800 Speaker 1: from a geopolitical standpoint, I mean in the Treasury Department, 313 00:17:43,880 --> 00:17:47,280 Speaker 1: obviously she'll also be leading Scythius and she'll be in 314 00:17:47,359 --> 00:17:50,800 Speaker 1: charge of terrorists and whatnot and sanctions. Uh, and how 315 00:17:50,880 --> 00:17:53,159 Speaker 1: will that come up or how from from a from 316 00:17:53,200 --> 00:17:57,440 Speaker 1: a more geopolitical respective, especially with China. Yeah, I think 317 00:17:57,480 --> 00:18:01,200 Speaker 1: the big question on China is UM how and when 318 00:18:01,320 --> 00:18:05,440 Speaker 1: the tariffs can be removed UM, and so the tariffs 319 00:18:05,480 --> 00:18:09,800 Speaker 1: were sort of non conventional UM economic policy. I will 320 00:18:09,880 --> 00:18:13,200 Speaker 1: make the point that the sometimes has missed that the 321 00:18:13,359 --> 00:18:16,359 Speaker 1: US can easily afford of a tariff on China, UM, 322 00:18:16,480 --> 00:18:18,080 Speaker 1: it just can't afford to a tariffs on the whole 323 00:18:18,119 --> 00:18:21,560 Speaker 1: world all at the same time. UM. And so my 324 00:18:21,760 --> 00:18:24,240 Speaker 1: view is that the Biden administration will probably be moving 325 00:18:24,359 --> 00:18:29,400 Speaker 1: more towards human rights and keep the focus on technology issues, 326 00:18:29,960 --> 00:18:32,320 Speaker 1: and so there's an opportunity for China to get the 327 00:18:32,440 --> 00:18:35,880 Speaker 1: terrorifts removed UM. But I doubt that the Biden administration 328 00:18:35,960 --> 00:18:39,960 Speaker 1: would would remove the tariff without anything in exchange and EXC. 329 00:18:40,000 --> 00:18:42,879 Speaker 1: I think part of her job will be to figure 330 00:18:42,920 --> 00:18:46,000 Speaker 1: out something UM that both keeps the pressure on China 331 00:18:46,119 --> 00:18:48,920 Speaker 1: be a good actor, but also takes away one of 332 00:18:49,000 --> 00:18:52,720 Speaker 1: those UM Trump era policy that does have some economic 333 00:18:52,800 --> 00:18:56,080 Speaker 1: harm and some legacy harm to it. Fascinating Janet Yellen's 334 00:18:56,119 --> 00:19:01,240 Speaker 1: dollar diplomacy, both domestically and geopol nically. We are definitely 335 00:19:01,320 --> 00:19:04,560 Speaker 1: going to be watching. It's what everyone You just hit 336 00:19:04,600 --> 00:19:06,600 Speaker 1: the nail on the head. That's what everyone's buzzing about. 337 00:19:07,080 --> 00:19:10,600 Speaker 1: From from the investor perspective and uh, and you know 338 00:19:10,680 --> 00:19:12,920 Speaker 1: here in Washington, I think in the geopolitical crowd, there's 339 00:19:12,920 --> 00:19:15,240 Speaker 1: a lot of questions about China, but you're absolutely correct 340 00:19:15,320 --> 00:19:18,600 Speaker 1: that I should be asking more about dollar diplomacy. Thank 341 00:19:18,640 --> 00:19:21,720 Speaker 1: you so much to Mark Summerland, economist and managing partner 342 00:19:22,080 --> 00:19:24,840 Speaker 1: of even Flow Macro and Washington d C. Always grateful 343 00:19:24,840 --> 00:19:26,760 Speaker 1: to get his perspective. More. Next, I'm Kevin Sireli. This 344 00:19:26,800 --> 00:19:50,760 Speaker 1: is Bloomberg. Why all talk here in Washington d C? 345 00:19:51,000 --> 00:19:54,760 Speaker 1: Turns to President Elect Joe Biden's administration. Historically speaking, the 346 00:19:54,800 --> 00:19:57,320 Speaker 1: markets that performed better when there is divided government, the 347 00:19:57,440 --> 00:20:01,040 Speaker 1: biggest pressure for physical stimulus is and of taking cases 348 00:20:01,160 --> 00:20:06,199 Speaker 1: Bloomberg Sound on, the insiders, the influencers, the inside biding 349 00:20:06,240 --> 00:20:09,040 Speaker 1: has Thomas again and again that he will unite the 350 00:20:09,119 --> 00:20:12,520 Speaker 1: country's state government's control elections as in the constitution. I 351 00:20:12,640 --> 00:20:16,560 Speaker 1: think that we can expect a smooth, thoughtful, methodical transition. 352 00:20:16,800 --> 00:20:21,359 Speaker 1: This is Bloomberg. Sound On with Kevin Shirley on Bloomberg 353 00:20:22,600 --> 00:20:24,960 Speaker 1: and one oh five point seven f m h D two. 354 00:20:25,320 --> 00:20:28,119 Speaker 1: President Elect Joe Biden rolls out the first set of 355 00:20:28,200 --> 00:20:32,600 Speaker 1: nominations for his economic team. Meanwhile, that Chairman j Powell 356 00:20:32,680 --> 00:20:37,159 Speaker 1: sees significant challenges and uncertainties on the vaccines this as 357 00:20:37,240 --> 00:20:40,119 Speaker 1: US stocks fall from record highs. We've got a lot 358 00:20:40,160 --> 00:20:42,200 Speaker 1: to get through. We begin tonight with the big story. 359 00:20:42,320 --> 00:20:45,440 Speaker 1: President elect Joe Biden rolled out the first set of 360 00:20:45,560 --> 00:20:49,760 Speaker 1: nominations for his economic team, formally announcing his selection of 361 00:20:49,880 --> 00:20:54,240 Speaker 1: Janet Yellen to be Treasury Secretary, Nara Tandon to lead 362 00:20:54,280 --> 00:20:57,960 Speaker 1: the Office of Management and Budget, and Cecilia Rouse to 363 00:20:58,040 --> 00:21:01,960 Speaker 1: head the Council of Economic Advices. Biden also announced his 364 00:21:02,040 --> 00:21:04,720 Speaker 1: intent to nominate at A wallet at A Yamo, a 365 00:21:04,840 --> 00:21:09,160 Speaker 1: former senior advisor at Black Rock, to be Deputy Treasury Secretary. 366 00:21:09,520 --> 00:21:13,040 Speaker 1: At A Yamo is a Nigerian born attorney and president 367 00:21:13,240 --> 00:21:16,760 Speaker 1: of the Obama Foundation. All of this comes as FED 368 00:21:16,880 --> 00:21:21,800 Speaker 1: Chairman Jerome Powell warns lawmakers that the US economy remains 369 00:21:21,840 --> 00:21:25,639 Speaker 1: in a damaged an uncertain state despite progress in the 370 00:21:25,720 --> 00:21:30,720 Speaker 1: development of COVID nineteen vaccines, and he testified before the 371 00:21:30,840 --> 00:21:34,520 Speaker 1: Senate Banking Committee in testimony that was released this afternoon 372 00:21:34,920 --> 00:21:39,320 Speaker 1: that he will unveil tomorrow. In these opening remarks, he writes, quote, 373 00:21:39,680 --> 00:21:43,159 Speaker 1: recent news on the vaccine front is very positive for 374 00:21:43,240 --> 00:21:47,399 Speaker 1: the medium term for now, significant challenges and uncertainties remain, 375 00:21:47,800 --> 00:21:53,240 Speaker 1: including timing, production, and distribution, among other hurdles. We have 376 00:21:53,359 --> 00:21:57,080 Speaker 1: sound on the vaccination front coming from Dr Anthony found Fauci, 377 00:21:57,359 --> 00:21:59,199 Speaker 1: who said that there is a light at the end 378 00:21:59,280 --> 00:22:01,919 Speaker 1: of the tunnel in an interview with Fox News Sunday. 379 00:22:02,119 --> 00:22:04,280 Speaker 1: There is light at the end of the tunnel because 380 00:22:04,400 --> 00:22:08,760 Speaker 1: we will really be seeing vaccines soon. We likely, almost 381 00:22:08,800 --> 00:22:12,560 Speaker 1: certainly are going to be vaccinating a portion of the 382 00:22:12,680 --> 00:22:16,800 Speaker 1: individuals in the first priority before the end of December. 383 00:22:17,359 --> 00:22:21,400 Speaker 1: US Surgeon General Jerome Adams is promising a rapid December 384 00:22:21,520 --> 00:22:27,080 Speaker 1: vaccine and he also spoke with Fox News Sunday within 385 00:22:27,160 --> 00:22:29,800 Speaker 1: twenty four forty eight hours after submitting their EU way, 386 00:22:30,160 --> 00:22:32,920 Speaker 1: we from a federal perspective, have promised and have fed 387 00:22:32,960 --> 00:22:35,040 Speaker 1: everything up so that we can quickly review the v 388 00:22:35,240 --> 00:22:40,960 Speaker 1: wave and hopefully start fending out vaccine again within turs as, 389 00:22:41,119 --> 00:22:44,520 Speaker 1: Wall Street and Main Street and families across the country 390 00:22:44,640 --> 00:22:48,920 Speaker 1: look forward to the optimism surrounding the vaccination front, more 391 00:22:49,000 --> 00:22:52,040 Speaker 1: talk and warnings of fiscal stimulus, and our very own 392 00:22:52,119 --> 00:22:56,479 Speaker 1: Emily Chang spoke exclusively with former National Economic Council Director 393 00:22:57,160 --> 00:23:01,720 Speaker 1: Gary Cone about confirming a Treasury Secretary Janet Yellen, and 394 00:23:01,760 --> 00:23:04,560 Speaker 1: whether or not they're going to need more fiscal stimulus 395 00:23:04,640 --> 00:23:08,000 Speaker 1: is FED Chairman J Powell has warned, I worked with 396 00:23:08,200 --> 00:23:10,719 Speaker 1: Cherry Yellen when she was Chairman of the Federal Reserve. 397 00:23:11,240 --> 00:23:13,800 Speaker 1: We worked extremely well together. When I was in the 398 00:23:13,840 --> 00:23:16,920 Speaker 1: White House, we had a very good working relationship. I 399 00:23:17,080 --> 00:23:20,440 Speaker 1: find her to be very practical, very pragmatic, have a 400 00:23:20,720 --> 00:23:23,760 Speaker 1: very deep and broad understanding of the U. S economy, 401 00:23:24,119 --> 00:23:26,000 Speaker 1: and I'm very confident that she's going to step in 402 00:23:26,080 --> 00:23:28,520 Speaker 1: and do a very good job. She needs the help, though, 403 00:23:28,640 --> 00:23:32,719 Speaker 1: she needs help of Congress to get stimulus going. Isaac 404 00:23:32,800 --> 00:23:36,600 Speaker 1: Right is a Democratic strategist, partner at Forward Solutions Strategy Group, 405 00:23:36,920 --> 00:23:40,359 Speaker 1: and co founder of the Rural Voter and Institute. We 406 00:23:40,480 --> 00:23:42,960 Speaker 1: welcome him back to the program along with Doug High, 407 00:23:43,320 --> 00:23:46,320 Speaker 1: former Deputy Chief of Staff or former House Majority Leader 408 00:23:46,480 --> 00:23:50,240 Speaker 1: Eric Cancer, and former communications director for the r n C. Doug. 409 00:23:50,520 --> 00:23:53,879 Speaker 1: We just heard from Gary Cone who says that Janet 410 00:23:53,960 --> 00:23:55,879 Speaker 1: Yellen is going to need help from Congress to get 411 00:23:55,920 --> 00:23:59,080 Speaker 1: stimulus going. Are the Republicans in the Senate going to 412 00:23:59,160 --> 00:24:02,400 Speaker 1: help her? Uh in the in the lame duck short 413 00:24:02,520 --> 00:24:04,320 Speaker 1: term period of things? That it doesn't look like it. 414 00:24:04,480 --> 00:24:08,920 Speaker 1: But what we're seeing is that there's a very very 415 00:24:09,000 --> 00:24:12,440 Speaker 1: real situation that isn't just now kind of coming. We 416 00:24:12,560 --> 00:24:15,800 Speaker 1: are we are officially in winter. Even if it's not um, 417 00:24:16,119 --> 00:24:20,280 Speaker 1: you know, thirty degrees outside, businesses are being drastically affected 418 00:24:20,320 --> 00:24:22,760 Speaker 1: as you just can't do you know, think of restaurants 419 00:24:22,800 --> 00:24:24,600 Speaker 1: and things like that where you just can't do things 420 00:24:24,680 --> 00:24:29,239 Speaker 1: outdoors like you could and September even mid the late October, UM. 421 00:24:29,440 --> 00:24:31,600 Speaker 1: And that's gonna put more pressure on Congress to act, 422 00:24:31,680 --> 00:24:34,240 Speaker 1: and that's gonna put pressure on Democrats. That's gonna push 423 00:24:34,920 --> 00:24:38,480 Speaker 1: put pressure on Republicans, and ultimately we'll have to figure 424 00:24:38,480 --> 00:24:41,199 Speaker 1: out if if we can get to somewhere between um, 425 00:24:41,440 --> 00:24:44,160 Speaker 1: you know, where the Republicans were and and the civilian 426 00:24:44,200 --> 00:24:46,760 Speaker 1: that Pelosi was talking about. Maybe it's not cutting it 427 00:24:46,800 --> 00:24:50,080 Speaker 1: down in the middle, but they have to reach a deal. Isaac, Right, 428 00:24:50,440 --> 00:24:53,320 Speaker 1: How well, President, I'll let Joe Biden try to get 429 00:24:53,680 --> 00:24:56,800 Speaker 1: some of those crucial Republican swing votes. I'm thinking of 430 00:24:56,880 --> 00:24:59,680 Speaker 1: Senator Susan Collins and others on board in order to 431 00:24:59,760 --> 00:25:03,840 Speaker 1: get a fiscal stimulus package through. Well. Look, I mean 432 00:25:04,040 --> 00:25:05,639 Speaker 1: it's very clear when you look at the state of 433 00:25:05,680 --> 00:25:07,680 Speaker 1: the economy when you look at the state of how 434 00:25:07,800 --> 00:25:12,399 Speaker 1: people and businesses alike are reacting to the economic losses 435 00:25:12,480 --> 00:25:16,680 Speaker 1: of the pandemic. Uh that the Senators should be compelled 436 00:25:16,760 --> 00:25:18,199 Speaker 1: to do. I think Joe Biden just has to pour 437 00:25:18,280 --> 00:25:20,760 Speaker 1: out the reality of what our country is facing, and 438 00:25:20,920 --> 00:25:24,800 Speaker 1: surely enough members of the U. S. Senate will recognize 439 00:25:24,840 --> 00:25:26,960 Speaker 1: that and do the right thing. I know that sounds 440 00:25:27,040 --> 00:25:29,760 Speaker 1: crazy to expect of Washington, but surely we can get 441 00:25:29,880 --> 00:25:32,159 Speaker 1: enough votes to do the right thing that people are 442 00:25:32,200 --> 00:25:35,200 Speaker 1: willing to rescue the economy from the perils we face 443 00:25:35,320 --> 00:25:38,640 Speaker 1: in this pandemic, and that starts with addressing the very 444 00:25:38,760 --> 00:25:42,320 Speaker 1: serious needs, the very serious nature of a long term 445 00:25:42,840 --> 00:25:46,560 Speaker 1: stimulus package. Now, as we just said a moment ago, 446 00:25:46,960 --> 00:25:49,280 Speaker 1: we have the opportunity Lame doct session. There can be 447 00:25:49,400 --> 00:25:52,800 Speaker 1: a few priorities that are tacked on to the regular 448 00:25:52,880 --> 00:25:55,200 Speaker 1: spending bill. I mean, look, the federal government is it 449 00:25:55,480 --> 00:25:58,600 Speaker 1: is nearly closing. I think December levens. Does that sound right? 450 00:25:59,640 --> 00:26:05,440 Speaker 1: Federal budget, Yeah, it's a federal budget isn't addressed, and 451 00:26:05,920 --> 00:26:07,520 Speaker 1: this would be a terrible time, in the midst of 452 00:26:07,560 --> 00:26:11,040 Speaker 1: the pandemic, in the midst of a contentious presidential transition 453 00:26:11,520 --> 00:26:14,520 Speaker 1: to have an actual federal government shutdown. So there's the 454 00:26:14,560 --> 00:26:18,280 Speaker 1: potential that some of these key programs involved in pandemic 455 00:26:18,359 --> 00:26:20,720 Speaker 1: relief UH that are set to expire at the end 456 00:26:20,720 --> 00:26:23,920 Speaker 1: of the year could be tagged on, tacked on potentially 457 00:26:24,359 --> 00:26:27,200 Speaker 1: to that bill, and then the larger addressed in the 458 00:26:27,280 --> 00:26:29,480 Speaker 1: new year. But I think Biden just has to carry 459 00:26:29,760 --> 00:26:32,240 Speaker 1: the message of the American people that we need help 460 00:26:32,359 --> 00:26:35,480 Speaker 1: right now, that politicians need to focus on the priorities 461 00:26:35,520 --> 00:26:38,440 Speaker 1: of what matters in this country, and that's health and economics. 462 00:26:39,160 --> 00:26:41,760 Speaker 1: You know, you make a really good point, Isaac, in 463 00:26:41,920 --> 00:26:44,560 Speaker 1: terms of just the dynamics of the Democratic Party right now. 464 00:26:44,920 --> 00:26:47,639 Speaker 1: And Isaac is with us, and he of course has 465 00:26:47,680 --> 00:26:51,800 Speaker 1: worked on Hillary Clinton's rapid response UH campaigns when she 466 00:26:51,920 --> 00:26:54,160 Speaker 1: was running for president. And and I know that you're 467 00:26:54,200 --> 00:26:56,600 Speaker 1: familiar with some of the other names on the list 468 00:26:56,680 --> 00:26:59,400 Speaker 1: that was unveiled today by President elect Joe Biden, including 469 00:26:59,680 --> 00:27:02,520 Speaker 1: near attendant to lead the Office of Management and Budget. 470 00:27:02,800 --> 00:27:06,240 Speaker 1: She currently leads the Center for American Progress here in Washington, 471 00:27:06,400 --> 00:27:08,280 Speaker 1: d C. I would argue that's a bit more of 472 00:27:08,320 --> 00:27:11,560 Speaker 1: a centrist organization in Washington. I know Democrats, some Democrats 473 00:27:11,680 --> 00:27:14,520 Speaker 1: might disagree with that, but from your experiences, I mean, 474 00:27:14,600 --> 00:27:18,280 Speaker 1: Republicans are speaking out to suggest that this confirmation of 475 00:27:18,400 --> 00:27:21,480 Speaker 1: Nera would be dead on arrival. Do you think that 476 00:27:21,680 --> 00:27:24,600 Speaker 1: she faces a more difficult path to the nomination than 477 00:27:24,720 --> 00:27:29,520 Speaker 1: someone like a yelling Isaac Well. I mean, obviously there's 478 00:27:29,560 --> 00:27:33,800 Speaker 1: the potential for that, because there are certain elements that 479 00:27:33,880 --> 00:27:39,160 Speaker 1: are willing to make politics uh more important in their 480 00:27:39,200 --> 00:27:42,720 Speaker 1: own agendas than policy, and we just can't afford to 481 00:27:42,800 --> 00:27:44,680 Speaker 1: let that happen. Near A. Tanna is one of the 482 00:27:44,760 --> 00:27:49,720 Speaker 1: smartest people in Washington, d C. She represents the country itself. 483 00:27:50,119 --> 00:27:53,000 Speaker 1: Someone who used to be on snap benefits, who grew 484 00:27:53,080 --> 00:27:56,480 Speaker 1: up in the household with sevenefits now leading the Office 485 00:27:56,880 --> 00:27:59,760 Speaker 1: of Management and Budgets in this country. That's what we 486 00:28:00,000 --> 00:28:04,600 Speaker 1: need to see, a diverse economic perspective that that looks 487 00:28:04,640 --> 00:28:08,199 Speaker 1: like the economic perspectives across the country. The decisions by 488 00:28:08,280 --> 00:28:10,520 Speaker 1: the by administration to put together this economic team have 489 00:28:10,680 --> 00:28:14,320 Speaker 1: been praised from everybody from Harvard economist Jason Furman to 490 00:28:14,440 --> 00:28:17,560 Speaker 1: people like Bill Crystal to the Republican member Congress from 491 00:28:17,560 --> 00:28:20,840 Speaker 1: North Carolina who has the House Financial Team. You know, 492 00:28:21,000 --> 00:28:23,919 Speaker 1: there has been widespread praise for the team that has 493 00:28:23,960 --> 00:28:28,639 Speaker 1: been put together yelling hand and etcetera, and we need 494 00:28:28,760 --> 00:28:31,880 Speaker 1: to move forward with this. It's tom to start. I'm 495 00:28:31,920 --> 00:28:33,720 Speaker 1: just curious we're gonna get into this coming up on 496 00:28:33,760 --> 00:28:36,120 Speaker 1: the program with Isaac and Zuga. I'm curious to see which, 497 00:28:36,920 --> 00:28:42,320 Speaker 1: which what which nominee the likely Republican controlled Senate will block, 498 00:28:42,360 --> 00:28:44,600 Speaker 1: because there's always a handful that they that they get 499 00:28:44,640 --> 00:28:46,880 Speaker 1: that the opposition party will will block. So I'm interested 500 00:28:46,920 --> 00:28:49,400 Speaker 1: to see that. All right, panel stays. Download the Bloomberg 501 00:28:49,440 --> 00:28:52,080 Speaker 1: Sound On podcast on Appolli Jains and Bloomberg dot com, 502 00:28:52,200 --> 00:28:54,480 Speaker 1: or by downloading the Bloomberg Business app. You can also 503 00:28:54,520 --> 00:28:56,560 Speaker 1: find us on a radio dot com, I Heart Radio 504 00:28:56,680 --> 00:28:59,760 Speaker 1: and Spotify. For all of our latest coverage on COVID 505 00:28:59,840 --> 00:29:03,480 Speaker 1: Night teen, head on over to Bloomberg dot com slash coronavirus. 506 00:29:03,880 --> 00:29:06,400 Speaker 1: My name is Kevin Cirelli. I'm the chief Washington correspondent 507 00:29:06,400 --> 00:29:18,720 Speaker 1: from Bloomberg TV and Radio. You're listening to Bloomberg. This 508 00:29:19,240 --> 00:29:24,400 Speaker 1: is Bloomberg's Sound On with Kevin Surreley on Bloomberg and 509 00:29:24,560 --> 00:29:28,400 Speaker 1: one All five point seven m HD two. The Philadelphia 510 00:29:28,440 --> 00:29:30,800 Speaker 1: Eagles played tonight and that means we're gonna check in 511 00:29:30,920 --> 00:29:35,240 Speaker 1: with Congressman Dwight Evans, a Democrat representing Pennsylvania's third congressional 512 00:29:35,320 --> 00:29:38,640 Speaker 1: district in Philly, coming up in the next half hour. 513 00:29:38,800 --> 00:29:42,200 Speaker 1: Congressman Evans, of course we'll talk policy and of course 514 00:29:42,280 --> 00:29:44,840 Speaker 1: the birds with keV. My name is Kevin Curreli on 515 00:29:44,880 --> 00:29:47,520 Speaker 1: the Chief Washington Correspondent FRO Bloomberg Television as well as 516 00:29:47,600 --> 00:29:52,200 Speaker 1: Bloomberg Radio, Isaac writes with me, Doug Hi, Isaac's our Democrat, 517 00:29:52,320 --> 00:29:55,280 Speaker 1: Doug is our Republican. I want to go geopolitics for 518 00:29:55,360 --> 00:29:59,240 Speaker 1: a second if I could, because there's this fascinating article 519 00:29:59,280 --> 00:30:00,720 Speaker 1: in the Bloomberg term at All that I was reading 520 00:30:00,760 --> 00:30:03,640 Speaker 1: today about the tension that is mounting not just between 521 00:30:03,640 --> 00:30:07,240 Speaker 1: the US and China, but also between the US and Australia. 522 00:30:07,800 --> 00:30:11,680 Speaker 1: David Fickling rights on Bloomberg Opinion. More than fifty ships 523 00:30:11,760 --> 00:30:15,720 Speaker 1: carrying Australian coal have been waiting for a month or 524 00:30:15,840 --> 00:30:20,160 Speaker 1: longer to offload their cargo amid a diplomatic spat between 525 00:30:20,280 --> 00:30:25,560 Speaker 1: Australia and China. China is planning to impose anti dumping duties. 526 00:30:25,640 --> 00:30:28,000 Speaker 1: Are you ready for this? As high as two hundred 527 00:30:28,080 --> 00:30:33,240 Speaker 1: and twelve point one percent on Australian wine. Its officials 528 00:30:33,280 --> 00:30:37,000 Speaker 1: have blamed a host a grievances, including Australian media coverage. 529 00:30:37,040 --> 00:30:39,680 Speaker 1: I guess they don't. It's a foreign concept to me. 530 00:30:39,960 --> 00:30:43,640 Speaker 1: And the passing of laws preventing foreign political interference from 531 00:30:43,720 --> 00:30:47,600 Speaker 1: quote poisoning end quote relations. I bring all of this 532 00:30:47,800 --> 00:30:50,640 Speaker 1: up to the panel because it's really going to make 533 00:30:50,800 --> 00:30:55,640 Speaker 1: be a test of Tony Blincoln's approach to international affairs, 534 00:30:56,080 --> 00:30:59,440 Speaker 1: which is obviously a start contrast to President Donald Trump's, 535 00:30:59,640 --> 00:31:03,880 Speaker 1: who has taken a different approach when negotiating with China 536 00:31:03,920 --> 00:31:06,520 Speaker 1: and when in dealing with China. When I spoke with 537 00:31:06,880 --> 00:31:08,840 Speaker 1: Anthony B. Lincoln over the summer, and now he of 538 00:31:08,880 --> 00:31:11,560 Speaker 1: course is nominated to be Secretary of State, he said 539 00:31:11,600 --> 00:31:14,800 Speaker 1: that he wants to take a more multinational approach. He 540 00:31:14,880 --> 00:31:17,920 Speaker 1: wants to bring Europe back on board with the United 541 00:31:18,000 --> 00:31:21,840 Speaker 1: States so that that the US and allies are are 542 00:31:22,920 --> 00:31:27,240 Speaker 1: arguing from the same are acting from the same geopolitical playbook. 543 00:31:27,280 --> 00:31:31,320 Speaker 1: Isaac right, Can Tony B. Lincoln get that job done? 544 00:31:31,480 --> 00:31:38,560 Speaker 1: And if so, how do we have Isaac Doug high? 545 00:31:38,560 --> 00:31:41,800 Speaker 1: Are you with me? We have dog? We have Doug Doug, 546 00:31:41,880 --> 00:31:44,480 Speaker 1: same question to you. While we wait to get Isaac. Yeah, 547 00:31:44,520 --> 00:31:46,560 Speaker 1: I look, I saw that article as well, and I 548 00:31:46,640 --> 00:31:49,600 Speaker 1: saw that the parent company is painful. Who makes grange? 549 00:31:49,640 --> 00:31:51,400 Speaker 1: And by the way, if any listeners can afford a 550 00:31:51,400 --> 00:31:53,719 Speaker 1: bottle of grange, and you're a better man than I am, 551 00:31:53,800 --> 00:31:57,400 Speaker 1: that a woman than I am. Um. Look, this is 552 00:31:57,960 --> 00:32:00,640 Speaker 1: this highlights I think, really the different culty that we 553 00:32:00,720 --> 00:32:03,480 Speaker 1: have coming out of the Trump years and how to 554 00:32:03,560 --> 00:32:06,720 Speaker 1: go it alone approach that Trump has taken, um you know, 555 00:32:06,880 --> 00:32:09,880 Speaker 1: has had, and what those ramifications will be. I think 556 00:32:09,960 --> 00:32:12,520 Speaker 1: right now it's impossible predictor we're going to have success 557 00:32:12,640 --> 00:32:15,959 Speaker 1: or not. It definitely is working. Working in partnership. Our 558 00:32:16,000 --> 00:32:18,560 Speaker 1: allies have been clamoring for and and by the way, 559 00:32:18,600 --> 00:32:21,000 Speaker 1: if we're going to talk about penfold, let's get rid 560 00:32:21,040 --> 00:32:24,240 Speaker 1: of the terroriffs on European line and it's how you know, 561 00:32:24,320 --> 00:32:27,960 Speaker 1: French chavleige probably Christian Moreau or Italian cheese is Burgundy. 562 00:32:28,080 --> 00:32:29,760 Speaker 1: We we need to get rid of those tariffs here 563 00:32:29,800 --> 00:32:32,640 Speaker 1: as well. But we do that by acting in partnership. 564 00:32:32,920 --> 00:32:36,120 Speaker 1: And if if we're not able to do that, as 565 00:32:36,160 --> 00:32:38,600 Speaker 1: we've seen in the past few years, bad things happen. 566 00:32:38,920 --> 00:32:41,160 Speaker 1: If we can do that, we can make good things happen. 567 00:32:41,280 --> 00:32:44,200 Speaker 1: It's just it's very difficult, especially for four years of 568 00:32:44,680 --> 00:32:49,720 Speaker 1: an antagonistic relationship with your own allies. There, yes, okay, 569 00:32:49,960 --> 00:32:51,480 Speaker 1: so I mean no, no, it's okay, it's okay. But 570 00:32:51,520 --> 00:32:52,960 Speaker 1: I mean I want to put this question to you 571 00:32:53,040 --> 00:32:55,240 Speaker 1: because I've just outlined in terms of all of the 572 00:32:55,640 --> 00:32:58,640 Speaker 1: you know, we we joke about that industry, but it's 573 00:32:58,680 --> 00:33:01,280 Speaker 1: incredibly important and you're intended see which of course has 574 00:33:01,440 --> 00:33:05,120 Speaker 1: a massively has been massively impacted by the whiskey tariffs 575 00:33:05,160 --> 00:33:08,160 Speaker 1: and whatnot and the supply chain surrounding dot industry. But 576 00:33:08,640 --> 00:33:10,600 Speaker 1: my original question, I still want to get your take 577 00:33:10,680 --> 00:33:14,880 Speaker 1: on it, which is, how can a Biden administration look 578 00:33:15,000 --> 00:33:19,520 Speaker 1: to reset uh the the Western allies in order to 579 00:33:20,120 --> 00:33:24,960 Speaker 1: negotiate are really to deal with the Communist Party of China? Well, look, 580 00:33:25,000 --> 00:33:27,520 Speaker 1: our allies are looking for leadership right now from the 581 00:33:27,560 --> 00:33:30,200 Speaker 1: country they've been without seeing it from from the US 582 00:33:30,520 --> 00:33:33,959 Speaker 1: for four years, and that includes an economic issues, uh 583 00:33:34,040 --> 00:33:36,600 Speaker 1: and trade issues with China. I think there are allies 584 00:33:36,680 --> 00:33:38,640 Speaker 1: are looking for leadership and how to deal with that, 585 00:33:39,120 --> 00:33:42,480 Speaker 1: and there are vast ramifications that we have only begun 586 00:33:42,520 --> 00:33:45,360 Speaker 1: to scratch the surface of what the last four years 587 00:33:45,400 --> 00:33:49,600 Speaker 1: of Trump means for misguided trade policy, right, because not 588 00:33:49,760 --> 00:33:52,480 Speaker 1: only when all of this issue in conflict with China, 589 00:33:52,800 --> 00:33:54,480 Speaker 1: not only has it led to the direct cariffs and 590 00:33:54,560 --> 00:33:57,200 Speaker 1: trade issues that we see there, but it leads to 591 00:33:57,640 --> 00:34:03,479 Speaker 1: the uh RE the siating of China's relationships with other marketplaces, right, 592 00:34:03,560 --> 00:34:06,960 Speaker 1: the renegotiating of our trading with other marketplaces. It's not 593 00:34:07,120 --> 00:34:11,080 Speaker 1: just that, for example, that China is buying less beef 594 00:34:11,120 --> 00:34:13,800 Speaker 1: from the US, but they now have struck deals with 595 00:34:13,920 --> 00:34:18,239 Speaker 1: the Brazilian beef industry, which has seen its largest economic 596 00:34:18,360 --> 00:34:22,360 Speaker 1: games in recorded history in the last couple of years, 597 00:34:22,760 --> 00:34:27,359 Speaker 1: now supplying those marketplaces. So what happened when we try 598 00:34:27,440 --> 00:34:31,880 Speaker 1: to redevelop these relationships, will those markets again reopened to 599 00:34:31,920 --> 00:34:33,600 Speaker 1: the U S. And this is where we need our 600 00:34:33,600 --> 00:34:35,799 Speaker 1: allies to come to bear. And that's why I think 601 00:34:35,840 --> 00:34:38,719 Speaker 1: we're gonna see progress made. It may be slow coming, 602 00:34:38,920 --> 00:34:41,120 Speaker 1: but I think we should expect to see progress made 603 00:34:41,480 --> 00:34:43,560 Speaker 1: in the Biden administration over the next four years and 604 00:34:45,400 --> 00:34:47,479 Speaker 1: spanned on that real quick. You know, I've been reading 605 00:34:47,520 --> 00:34:50,920 Speaker 1: over the past couple of days. Obviously, you know, everybody's 606 00:34:50,920 --> 00:34:52,840 Speaker 1: playing as close detection as the Ken to Brexit and 607 00:34:52,920 --> 00:34:55,680 Speaker 1: what's happening there. And there's been talk about, well, is 608 00:34:55,760 --> 00:34:59,480 Speaker 1: the Boris Biden relationship doomed from the start, And I 609 00:34:59,520 --> 00:35:02,719 Speaker 1: don't think that that it necessarily is. Obviously there's been 610 00:35:02,880 --> 00:35:05,800 Speaker 1: there's been a lot of comparisons between how Trump and 611 00:35:06,160 --> 00:35:08,600 Speaker 1: Boris Johnson kind of behave, and it starts, you know, 612 00:35:08,719 --> 00:35:11,560 Speaker 1: and that I think the comparisons tend to be pretty fickle. 613 00:35:11,600 --> 00:35:13,760 Speaker 1: It starts with the hair and then goes on down there. 614 00:35:14,239 --> 00:35:16,839 Speaker 1: But the difference is, you know that Joe Biden, if 615 00:35:16,840 --> 00:35:18,360 Speaker 1: you come at him, you know, if you have different 616 00:35:18,360 --> 00:35:20,560 Speaker 1: points of view, you can work with him. I've certainly 617 00:35:20,600 --> 00:35:23,279 Speaker 1: seen that working with his office in the House. But 618 00:35:23,440 --> 00:35:25,480 Speaker 1: you also know that you're not gonna wake up to 619 00:35:25,560 --> 00:35:28,080 Speaker 1: a tweet that absolutely sells you out. And I can 620 00:35:28,160 --> 00:35:31,200 Speaker 1: tell you the Prime Minister of the United Kingdom knows 621 00:35:31,440 --> 00:35:33,920 Speaker 1: that at any minute, the current president, you know, the 622 00:35:34,000 --> 00:35:37,239 Speaker 1: outgoing president, could sell him out on a tweet and 623 00:35:37,320 --> 00:35:40,480 Speaker 1: call him a loser or something else. He knows that 624 00:35:40,600 --> 00:35:42,560 Speaker 1: and I can speak to that because I told him 625 00:35:42,600 --> 00:35:44,360 Speaker 1: that when he was the Foreign Minister. So if you 626 00:35:44,480 --> 00:35:47,040 Speaker 1: ever become Prime Minister, you know that he could do 627 00:35:47,120 --> 00:35:50,680 Speaker 1: this to you. Um and so this will be you know, 628 00:35:50,840 --> 00:35:53,360 Speaker 1: it may be a positive relationship. I think certainly it 629 00:35:53,400 --> 00:35:56,840 Speaker 1: will be a more positive one, um, but it's not 630 00:35:57,000 --> 00:35:59,040 Speaker 1: one that's going to be fraught with the tension, even 631 00:35:59,080 --> 00:36:02,520 Speaker 1: though that there will be disagreements of what is the 632 00:36:02,560 --> 00:36:05,360 Speaker 1: president going to do next? Where it could be anything 633 00:36:05,480 --> 00:36:08,480 Speaker 1: and blindside anyone, Fie. I have a minute left for 634 00:36:08,600 --> 00:36:10,600 Speaker 1: the job, but I have to ask this to to Isaac. 635 00:36:10,800 --> 00:36:15,759 Speaker 1: Does Hillary Clinton want on the Biden administration? I can't 636 00:36:15,800 --> 00:36:19,359 Speaker 1: imagine so. Um. I think she she has her own 637 00:36:19,520 --> 00:36:23,800 Speaker 1: place in American history that she has carved out, and 638 00:36:24,520 --> 00:36:28,279 Speaker 1: well deserved place in American history that she has earned. Um. 639 00:36:28,560 --> 00:36:32,040 Speaker 1: I think she already is an elder states person. I 640 00:36:32,200 --> 00:36:35,680 Speaker 1: can't imagine that she's looking to go back into the administration, 641 00:36:35,719 --> 00:36:37,520 Speaker 1: you know. And that's the question that I get from 642 00:36:37,560 --> 00:36:41,400 Speaker 1: Republicans more than anything else, and around the political water cooler, 643 00:36:41,560 --> 00:36:44,520 Speaker 1: that truly has been a common thread that I've gotten 644 00:36:44,560 --> 00:36:46,840 Speaker 1: over the past couple of weeks. It's does Hillary Clinton 645 00:36:46,880 --> 00:36:49,840 Speaker 1: want to serve in the Biden administration? And what and 646 00:36:49,920 --> 00:36:51,560 Speaker 1: what role would that be? All Right, Kevin, I'm next 647 00:36:51,600 --> 00:36:54,800 Speaker 1: me checking with Congressman Dwight Evans, a Democrat from Philly, 648 00:36:55,200 --> 00:37:17,279 Speaker 1: I'm Kevin SURRELLI you're listening to Bloomberg. This is Bloomberg 649 00:37:17,480 --> 00:37:22,120 Speaker 1: Sound On with Kevin Surreley on Bloomberg and one oh 650 00:37:22,239 --> 00:37:25,080 Speaker 1: five point seven f M HD two. My name is 651 00:37:25,160 --> 00:37:29,040 Speaker 1: Kevin Curreley. I'm the chief Washington correspondent for Bloomberg Television 652 00:37:29,160 --> 00:37:33,160 Speaker 1: as well as Bloomberg Radio. Big Big Night tonight, whether 653 00:37:33,239 --> 00:37:36,480 Speaker 1: you're in Seattle or Philly, the Eagles take on the 654 00:37:36,560 --> 00:37:39,160 Speaker 1: Seattle Seahawks in Monday Night football. I said that means 655 00:37:39,239 --> 00:37:41,320 Speaker 1: I have to check in. I have to check in 656 00:37:41,360 --> 00:37:45,440 Speaker 1: with Congressman Dwight Evans, Democrat in Philadelphia is third congressional district. 657 00:37:45,480 --> 00:37:48,399 Speaker 1: Of course he's from Philly. We're both diehard Eagles fans. 658 00:37:48,480 --> 00:37:50,320 Speaker 1: I know I have to talk politics, and I know 659 00:37:50,440 --> 00:37:55,399 Speaker 1: our executive producer, kristeam Verada is just holding her breath, 660 00:37:55,520 --> 00:37:58,360 Speaker 1: hoping I get through this Eagle's fodder quickly. But I 661 00:37:58,400 --> 00:38:00,879 Speaker 1: can't help it because this is a really huge game. 662 00:38:01,360 --> 00:38:03,880 Speaker 1: Are we gonna see Are we going to see Carson 663 00:38:04,000 --> 00:38:14,400 Speaker 1: Wentz get benched tonight? Congressman, No, why you're not not? 664 00:38:14,600 --> 00:38:19,000 Speaker 1: Because some hes been today. Look, it's a team sport, 665 00:38:19,920 --> 00:38:23,040 Speaker 1: and the difficulties that have occurred, has not singlely been 666 00:38:23,120 --> 00:38:26,759 Speaker 1: just on the quarterback. You know, need to often such 667 00:38:26,840 --> 00:38:30,880 Speaker 1: line piece into a special team, all of the elements 668 00:38:30,920 --> 00:38:33,880 Speaker 1: coming together, so you know, there's not a there's not 669 00:38:34,000 --> 00:38:37,799 Speaker 1: a single individual you think. You think Peterson's not going 670 00:38:37,920 --> 00:38:42,440 Speaker 1: to go all in on gem and Hurts, But I 671 00:38:42,480 --> 00:38:45,879 Speaker 1: don't think that be fair because basically I don't think 672 00:38:46,520 --> 00:38:50,440 Speaker 1: Hurts by himself can turn around make that happen. And 673 00:38:50,520 --> 00:38:52,680 Speaker 1: I think we make a mistakes throwing him in the 674 00:38:52,800 --> 00:38:55,879 Speaker 1: game at this point. You know you're talking about down 675 00:38:55,920 --> 00:38:59,040 Speaker 1: the line. Fine, but at this point Harton went In 676 00:38:59,200 --> 00:39:03,719 Speaker 1: my view, uh, we gotta learn to stick with what 677 00:39:03,920 --> 00:39:06,160 Speaker 1: we have. And I mean, I think that sends a 678 00:39:06,239 --> 00:39:09,360 Speaker 1: message to all of the players on the team. And 679 00:39:09,440 --> 00:39:12,440 Speaker 1: I believe that Carston wins it at this time should 680 00:39:12,480 --> 00:39:15,239 Speaker 1: be the person to take this game on. This is 681 00:39:15,280 --> 00:39:19,480 Speaker 1: a very important game. You know, yesterday with the New 682 00:39:19,600 --> 00:39:26,040 Speaker 1: York Giants winning, uh and Washington winning against Dallas, me 683 00:39:26,200 --> 00:39:29,879 Speaker 1: it's clear that you know, this is a game we're 684 00:39:29,920 --> 00:39:34,680 Speaker 1: still in understanding. I know, I know very competitive well, 685 00:39:34,840 --> 00:39:38,000 Speaker 1: and I gotta talk politics. I gotta talk politics, but 686 00:39:38,520 --> 00:39:40,840 Speaker 1: that's the same That's why I mean, even in politics, 687 00:39:40,920 --> 00:39:46,319 Speaker 1: that's why it's important because Congressman, I'm going to need 688 00:39:46,360 --> 00:39:48,399 Speaker 1: the pivot. I'm gonna do the pivot, and you're gonna 689 00:39:48,440 --> 00:39:50,640 Speaker 1: follow it because I I you got on the same 690 00:39:50,719 --> 00:39:52,759 Speaker 1: wave length. I wake up this morning. I read my 691 00:39:52,840 --> 00:39:56,040 Speaker 1: Delco Times. Okay, I read my hometown newspaper. But you know, 692 00:39:56,160 --> 00:39:57,920 Speaker 1: first thing I do, I gotta know what's going on 693 00:39:58,000 --> 00:40:00,600 Speaker 1: in Delko and you know this columnists and darker times. 694 00:40:00,640 --> 00:40:04,080 Speaker 1: He said, who's the most popular popular player on a 695 00:40:04,200 --> 00:40:07,279 Speaker 1: football team? When the quarterback is struggling? You know who 696 00:40:07,320 --> 00:40:10,239 Speaker 1: it is, the backup quarterback. I want to ask you this, 697 00:40:10,719 --> 00:40:14,560 Speaker 1: what role and how popular as Vice President elect Kamala 698 00:40:14,680 --> 00:40:17,120 Speaker 1: Harris and the Democratic Party? And how will she be 699 00:40:17,280 --> 00:40:23,439 Speaker 1: utilized in abiden administration on policy? I think she will 700 00:40:23,480 --> 00:40:29,520 Speaker 1: be used very effectively. She has the experience as United 701 00:40:29,560 --> 00:40:35,160 Speaker 1: States senators. She demonstrated that I believe Vice President Biden 702 00:40:35,280 --> 00:40:39,120 Speaker 1: President elect Biden has shown because he himself was in 703 00:40:39,239 --> 00:40:43,160 Speaker 1: that role, he understands the significance of having a person 704 00:40:43,640 --> 00:40:47,400 Speaker 1: ready to play. And Senator Harrison, my view is in 705 00:40:47,520 --> 00:40:50,520 Speaker 1: that particular position. And but I think that between both 706 00:40:50,560 --> 00:40:54,120 Speaker 1: of them together, they they understand where we are. So 707 00:40:54,320 --> 00:40:58,320 Speaker 1: you know, right now, we are an interesting time. Marcus 708 00:40:58,400 --> 00:41:02,960 Speaker 1: Zandi is in economy, you know, with someone who's wrote 709 00:41:02,960 --> 00:41:06,600 Speaker 1: the op ed piece today in the Philipphie Inquiry, talked 710 00:41:06,600 --> 00:41:10,200 Speaker 1: about the need of a rescue package. You know. He 711 00:41:10,320 --> 00:41:14,400 Speaker 1: talked about being fair that the House has already passed 712 00:41:14,920 --> 00:41:18,200 Speaker 1: passed twice, so it's not like we haven't done things. 713 00:41:18,280 --> 00:41:20,880 Speaker 1: But we got to get to work because our condy 714 00:41:21,600 --> 00:41:24,719 Speaker 1: is very fragile, uh, and we need not to take 715 00:41:24,800 --> 00:41:26,839 Speaker 1: it for granted, and we need to do the things 716 00:41:26,880 --> 00:41:33,480 Speaker 1: that we have to do. Congressman's Whight Evans, Democrat from Philadelphia. 717 00:41:34,000 --> 00:41:36,600 Speaker 1: I'm going to do something that will shock you. I 718 00:41:36,719 --> 00:41:39,719 Speaker 1: think I'm going to play a clip from my colleague 719 00:41:40,080 --> 00:41:44,480 Speaker 1: Emily Chang, who interviewed UH President Trump's former National Economic 720 00:41:44,560 --> 00:41:47,480 Speaker 1: Council Director Gary Cone. And I think you're going to 721 00:41:47,600 --> 00:41:51,920 Speaker 1: agree with President Trump's former National Economic Council Director Gary 722 00:41:52,000 --> 00:41:55,120 Speaker 1: Cohne as he talks about fiscal stimulus. So I'm gonna 723 00:41:55,120 --> 00:41:57,480 Speaker 1: play it for you, Congressman, and I want your reaction 724 00:41:57,640 --> 00:42:02,480 Speaker 1: here is I desperately he believe that we need more stimulus, 725 00:42:02,560 --> 00:42:06,200 Speaker 1: and we need more stimulus today. I would beg Congress 726 00:42:06,239 --> 00:42:08,960 Speaker 1: to go back to work and pass the stimuls bill 727 00:42:09,080 --> 00:42:12,600 Speaker 1: this week. There's no time, like the president, dollars put 728 00:42:12,680 --> 00:42:16,800 Speaker 1: back in consumers pockets would be very, very important. Do 729 00:42:16,880 --> 00:42:21,960 Speaker 1: you agree with Gary coach absolute? Uh, there's no, there's 730 00:42:22,040 --> 00:42:25,160 Speaker 1: not Democratic Republican on this issue. We got you gotta 731 00:42:25,200 --> 00:42:28,320 Speaker 1: be about the American economy, you know, hoping that the 732 00:42:29,360 --> 00:42:32,960 Speaker 1: UH president of white half that fifty some days is good. 733 00:42:33,360 --> 00:42:37,400 Speaker 1: He's concentrated on this job for the people. UH President 734 00:42:37,560 --> 00:42:40,719 Speaker 1: elect Biden has indicated he thinks it needs to turn 735 00:42:40,800 --> 00:42:44,879 Speaker 1: them down. So President like Biden and President Trump both 736 00:42:45,000 --> 00:42:48,200 Speaker 1: agree on is the need for a simbilant So we 737 00:42:48,280 --> 00:42:50,719 Speaker 1: got both you heard with Gary Cole said here with 738 00:42:51,080 --> 00:42:55,200 Speaker 1: Mark Zany said, we all liveved together, Garrett, and I 739 00:42:55,320 --> 00:42:58,360 Speaker 1: mean the reality of his Kevin. We just need to 740 00:42:59,040 --> 00:43:03,000 Speaker 1: work together and get this fast done. Yesterday, I want 741 00:43:03,040 --> 00:43:05,360 Speaker 1: to ask you about about some of the restrictions that 742 00:43:05,440 --> 00:43:07,600 Speaker 1: are that are happening in cities like Washington, d c. 743 00:43:08,080 --> 00:43:10,359 Speaker 1: As well as in cities like Philadelphia. And you are 744 00:43:10,400 --> 00:43:13,640 Speaker 1: a member of the United States House Committee on Small Business. 745 00:43:13,680 --> 00:43:16,759 Speaker 1: There are a lot of small businesses that feel that 746 00:43:16,920 --> 00:43:19,200 Speaker 1: agree with the science. They agree with the likes of 747 00:43:19,280 --> 00:43:22,719 Speaker 1: people of Dr Fauci, a President elect Joe Biden, Vice 748 00:43:22,800 --> 00:43:27,200 Speaker 1: President elect Kamala Harris. They didn't participate in massive Thanksgiving gatherings. 749 00:43:27,239 --> 00:43:31,640 Speaker 1: They're following the protocols, the CDC guidelines, but they're frustrated. Congressman, 750 00:43:31,880 --> 00:43:34,680 Speaker 1: They're seeing these rules and the rules don't make sense. 751 00:43:35,040 --> 00:43:37,879 Speaker 1: They feel that some small businesses are being singled out 752 00:43:38,000 --> 00:43:41,240 Speaker 1: for whatever reason, and that other small businesses are able 753 00:43:41,320 --> 00:43:44,880 Speaker 1: to remain open with no restrictions. They can they can 754 00:43:44,960 --> 00:43:47,120 Speaker 1: wear a mask it for part of being indoors and 755 00:43:47,200 --> 00:43:51,160 Speaker 1: one establishment, they can't do it in another. How do 756 00:43:51,320 --> 00:43:55,200 Speaker 1: you talk to me about when you're talking to constituents 757 00:43:55,239 --> 00:43:58,520 Speaker 1: who are frustrated with that, what do you tell them, 758 00:43:59,000 --> 00:44:02,680 Speaker 1: because that actually this time of year is incredibly frustrating 759 00:44:02,719 --> 00:44:06,439 Speaker 1: for millions of Americans. You know basically what I said 760 00:44:06,520 --> 00:44:11,520 Speaker 1: to him, Kevin, that this is a very difficult situation. Uh. 761 00:44:11,760 --> 00:44:14,680 Speaker 1: And I think you know the fact that man like 762 00:44:15,040 --> 00:44:18,920 Speaker 1: President of elect Biden said, we're trying to beat about 763 00:44:19,160 --> 00:44:22,640 Speaker 1: the virus. It's not each other. That's important to remember. 764 00:44:22,920 --> 00:44:26,359 Speaker 1: President of let Biden said, the tat is to beat 765 00:44:26,880 --> 00:44:31,120 Speaker 1: the to beat the virus, not each other. That comes 766 00:44:31,160 --> 00:44:34,160 Speaker 1: in about science and the importance of it. So Kevin 767 00:44:34,239 --> 00:44:37,759 Speaker 1: I understand the toughness, and I'm very sympathetic, so I 768 00:44:37,880 --> 00:44:40,480 Speaker 1: share with you with a large amount of death that 769 00:44:40,600 --> 00:44:43,840 Speaker 1: we have had. You know, we really need leadership in 770 00:44:43,960 --> 00:44:46,960 Speaker 1: and my view President Elect Biden the center. The hairs 771 00:44:47,360 --> 00:44:50,160 Speaker 1: are demonstrated and this is not even can. I will 772 00:44:50,280 --> 00:44:53,640 Speaker 1: tell anybody, as you just asked this question, that this 773 00:44:53,920 --> 00:44:57,920 Speaker 1: is not easy. This is very very difficult, particularly the 774 00:44:58,040 --> 00:45:02,319 Speaker 1: impact that it's having upon the economy. You heard Mark 775 00:45:02,480 --> 00:45:07,719 Speaker 1: Dandy heard both of these economists both agree they are 776 00:45:07,920 --> 00:45:10,160 Speaker 1: But I think what frustrates I want to I want 777 00:45:10,200 --> 00:45:11,760 Speaker 1: to follow up on this because I think it's important, 778 00:45:11,760 --> 00:45:13,319 Speaker 1: because I think if you even go up to New 779 00:45:13,400 --> 00:45:16,560 Speaker 1: York City Mayor de Blasia, I think what frustrates people 780 00:45:16,920 --> 00:45:19,160 Speaker 1: when I talk to them is they see what is 781 00:45:19,320 --> 00:45:23,400 Speaker 1: perceived as confusion. One day they're closing the schools, the 782 00:45:23,480 --> 00:45:25,840 Speaker 1: next day they're opening the schools. One day they're closing 783 00:45:25,840 --> 00:45:27,919 Speaker 1: the small businesses, the next day they're opening the small 784 00:45:27,920 --> 00:45:29,840 Speaker 1: business I mean, it doesn't there doesn't seem to be 785 00:45:29,920 --> 00:45:34,360 Speaker 1: a rhyme or reason from UH people, from elected officials 786 00:45:34,400 --> 00:45:37,560 Speaker 1: throughout the country, especially those who are in mayor's office, 787 00:45:37,640 --> 00:45:43,439 Speaker 1: is making decisions that impact very small businesses. And that's 788 00:45:43,520 --> 00:45:48,560 Speaker 1: why when President elect by met with the Executive Association 789 00:45:49,000 --> 00:45:53,640 Speaker 1: of the Governors just last week Democrats and Republicans. He 790 00:45:53,760 --> 00:45:57,200 Speaker 1: met with Democrats and Republican governors the Red states and 791 00:45:57,280 --> 00:45:59,959 Speaker 1: Blue states and basically say, we only have one state, 792 00:46:00,280 --> 00:46:04,320 Speaker 1: the United States. So, Kevin, let's understand a mat of 793 00:46:04,440 --> 00:46:09,160 Speaker 1: pandemic at one hundred years A hundred years. Yeah, so 794 00:46:09,320 --> 00:46:14,440 Speaker 1: this is extremely painful. I understand that. So I'm sympathetic 795 00:46:14,840 --> 00:46:17,279 Speaker 1: to the small businesses. I'm a vice share the Small 796 00:46:17,280 --> 00:46:20,880 Speaker 1: Business Committee. I know the pain, particularly business of college. 797 00:46:20,920 --> 00:46:24,719 Speaker 1: I understand that, but I stressed the same message. We 798 00:46:24,960 --> 00:46:27,520 Speaker 1: must beat this and we will beat this with the 799 00:46:27,680 --> 00:46:31,279 Speaker 1: vaccines that are there. The fact of the matter is 800 00:46:31,360 --> 00:46:33,600 Speaker 1: that something that I believe that the ways the Means 801 00:46:33,640 --> 00:46:36,879 Speaker 1: Committee on playing role. I'm on the subcommittee on help 802 00:46:37,360 --> 00:46:40,360 Speaker 1: I share with you. Come on your airways today to 803 00:46:40,560 --> 00:46:45,759 Speaker 1: keep stressing the sas the boat right all right, Congressman's 804 00:46:45,760 --> 00:46:48,520 Speaker 1: White Evans, whether you support Carson Wentz or jail and hurts, 805 00:46:49,000 --> 00:46:52,320 Speaker 1: we're still ego sounds. Thank you, Congressman. I'm Kevin Cereally, 806 00:46:52,920 --> 00:46:58,920 Speaker 1: this is Bloomberg one. This is Bloomberg Sound On with 807 00:46:59,120 --> 00:47:04,520 Speaker 1: Kevin Sirela on Bloomberg and one oh five point two 808 00:47:05,320 --> 00:47:09,000 Speaker 1: the gran Mary's a Great Song. My name is Kevin Suli. 809 00:47:09,000 --> 00:47:11,560 Speaker 1: I'm the chief Ashington correspondent for Bloomberg Television and for 810 00:47:11,680 --> 00:47:17,160 Speaker 1: Bloomberg Radio. My all star panel for the hour is 811 00:47:17,800 --> 00:47:21,839 Speaker 1: Isaac Right, democratic strategist, partner at Forward Solution Strategy Group, 812 00:47:21,880 --> 00:47:25,319 Speaker 1: and co founder of the Rural Voter Institute. Doug High 813 00:47:25,440 --> 00:47:28,040 Speaker 1: also with me, former deputy chief of staff for former 814 00:47:28,120 --> 00:47:32,239 Speaker 1: House Majority Leader Eric Cantor and former communications director for 815 00:47:32,320 --> 00:47:35,200 Speaker 1: the r n C. Before we go to my favorite 816 00:47:35,239 --> 00:47:38,240 Speaker 1: part of the program, which is what's on the panel's radar, 817 00:47:38,640 --> 00:47:42,759 Speaker 1: I gotta say, Doug, I heard that you sent a 818 00:47:43,600 --> 00:47:49,040 Speaker 1: link on to a very interesting story about Room Raider 819 00:47:49,560 --> 00:47:55,480 Speaker 1: to our executive producer, Christine Barratta. And here I am. 820 00:47:55,600 --> 00:47:57,680 Speaker 1: I missed this in the post today and I'm at 821 00:47:57,719 --> 00:47:59,680 Speaker 1: the Willard earlier. You're getting the coffee. You know, it's 822 00:47:59,680 --> 00:48:01,920 Speaker 1: the one used to God. The Willard Hotel, the historic 823 00:48:02,000 --> 00:48:04,879 Speaker 1: Willard Hotel near where the Bloomberg Bureau is. It has 824 00:48:05,040 --> 00:48:08,320 Speaker 1: they put out all of their incredible Christmas trees and everything, 825 00:48:08,360 --> 00:48:10,520 Speaker 1: and no one's I mean, you know, downtown is a 826 00:48:10,560 --> 00:48:15,000 Speaker 1: little um not busy, but it looks beautiful, all of 827 00:48:15,040 --> 00:48:17,480 Speaker 1: the Christmas decorations. And so I'm there with a friend 828 00:48:17,560 --> 00:48:20,040 Speaker 1: today and I'm reading the Post and I missed this story. 829 00:48:20,320 --> 00:48:23,960 Speaker 1: So tell us about this room Raider, this beloved pandemic 830 00:48:24,200 --> 00:48:30,640 Speaker 1: distraction that has now faced backlashed courtegy courtesy of Jeb 831 00:48:30,680 --> 00:48:34,760 Speaker 1: bush Well. It was the craziest thing. So um last weekend, 832 00:48:35,280 --> 00:48:39,840 Speaker 1: before the weekend before Thanksgiving. UM, I was on CNN 833 00:48:40,080 --> 00:48:42,719 Speaker 1: talking about, you know, post election and so forth, and 834 00:48:42,840 --> 00:48:45,439 Speaker 1: I saw you nine out of ten on room Raider, 835 00:48:45,480 --> 00:48:51,280 Speaker 1: which I was quite happy with, UM. But I actually 836 00:48:51,360 --> 00:48:54,960 Speaker 1: found out about the the I found out later that UM, 837 00:48:55,080 --> 00:48:56,920 Speaker 1: Jeff Bush had tweeted a room Rader that it was 838 00:48:56,960 --> 00:49:00,880 Speaker 1: anti Republican and some time a Republican. Uh. I was 839 00:49:02,320 --> 00:49:05,480 Speaker 1: thought Jeff Bush making controversy, Jeff Busch good, and so 840 00:49:05,719 --> 00:49:07,640 Speaker 1: it made a big controversy. The Post wrote about it, 841 00:49:07,719 --> 00:49:09,680 Speaker 1: Huffing The Post report about it. It's now being talked 842 00:49:09,719 --> 00:49:13,640 Speaker 1: on Bloomberg Radio. J Bush fan I was before, I 843 00:49:13,719 --> 00:49:16,200 Speaker 1: still am. I think he's a great governor, especial on education, 844 00:49:16,600 --> 00:49:18,960 Speaker 1: which is one of those issues like healthcare that Republicans 845 00:49:18,960 --> 00:49:22,759 Speaker 1: should talk about. What's Jeff Busch been up to I 846 00:49:22,800 --> 00:49:27,040 Speaker 1: think he's been enjoying not being in the fraight. Okay, yeah, 847 00:49:27,120 --> 00:49:28,520 Speaker 1: but then they get bored and then they want to 848 00:49:28,520 --> 00:49:30,279 Speaker 1: get back into the front, and they jumped back into 849 00:49:30,280 --> 00:49:33,720 Speaker 1: the well. That's what I was gonna say to Isaac. 850 00:49:33,840 --> 00:49:35,520 Speaker 1: You know there's you know, once it's in there, once 851 00:49:35,560 --> 00:49:37,480 Speaker 1: it's in their blood, they like, I mean, this is 852 00:49:37,560 --> 00:49:40,200 Speaker 1: what they do. You know, you kids sit on the sidelines. 853 00:49:40,239 --> 00:49:44,800 Speaker 1: Their players, Isaac, their players. Oh. I think Hillary Clinton 854 00:49:44,840 --> 00:49:48,560 Speaker 1: has established a tremendous legacy already. I think hopefully some 855 00:49:48,680 --> 00:49:53,279 Speaker 1: of Biden's um recent appointments already reflect that, and we'll 856 00:49:53,320 --> 00:49:56,360 Speaker 1: continue to. I think she is one of the elder 857 00:49:56,480 --> 00:50:00,359 Speaker 1: leaders in our country, elder states people who w down 858 00:50:00,440 --> 00:50:06,160 Speaker 1: with a tremendous place. I have not. I'm a little disappointed. 859 00:50:06,160 --> 00:50:09,960 Speaker 1: I don't think I'm making that. My my zoom interviews, 860 00:50:10,120 --> 00:50:13,920 Speaker 1: my Skype interviews do not apparently warrant a rating from 861 00:50:14,000 --> 00:50:19,160 Speaker 1: Room Raiders because I'm so good or so bad on 862 00:50:19,360 --> 00:50:23,040 Speaker 1: my radar. A couple of things, One on the nerdy 863 00:50:23,520 --> 00:50:25,520 Speaker 1: campaign level, which is I think there's still a deep 864 00:50:25,640 --> 00:50:30,759 Speaker 1: dive analysis going on of the Democrats strategy this time 865 00:50:30,880 --> 00:50:35,480 Speaker 1: that involves only real persons live door to door, canvassing 866 00:50:35,560 --> 00:50:37,279 Speaker 1: those kind of things. In the last couple of weeks, 867 00:50:37,800 --> 00:50:41,239 Speaker 1: how did it play out? Right, Biden one, Democrats dramatically 868 00:50:41,320 --> 00:50:45,120 Speaker 1: underperformed in US House races, in state legislative chambers across 869 00:50:45,160 --> 00:50:48,600 Speaker 1: the country. So how does that factor or not factor 870 00:50:48,680 --> 00:50:51,800 Speaker 1: into that equation? That is a big question that's looming 871 00:50:51,840 --> 00:50:55,200 Speaker 1: out there still amongst political consultants, That is being debated, 872 00:50:55,200 --> 00:50:57,880 Speaker 1: amongst campaign strategies. That will continue to be debated, but 873 00:50:58,000 --> 00:51:01,400 Speaker 1: it will have a last footprint on how we go 874 00:51:01,520 --> 00:51:04,879 Speaker 1: about campaigns in this country for decades to come. How 875 00:51:04,960 --> 00:51:08,080 Speaker 1: that question is determined? Uh. The other thing I think 876 00:51:08,120 --> 00:51:10,960 Speaker 1: that we see out there to pay attention to is 877 00:51:11,080 --> 00:51:14,840 Speaker 1: what happens to that critical coalition of red state and 878 00:51:14,960 --> 00:51:19,879 Speaker 1: rule voters that Trump uh tried to bring about again 879 00:51:19,920 --> 00:51:21,719 Speaker 1: the way he did in twenty sixteen and couldn't quite 880 00:51:21,760 --> 00:51:24,160 Speaker 1: get there. How does that group play out in the 881 00:51:24,280 --> 00:51:26,759 Speaker 1: early days of a Biden administration early days in the 882 00:51:26,800 --> 00:51:30,440 Speaker 1: first six to twelve months, right, do we see Trump's 883 00:51:30,480 --> 00:51:33,920 Speaker 1: based their road uh? And do we see the Democratic 884 00:51:34,000 --> 00:51:36,799 Speaker 1: coalition continue to make in roads and expand we saw 885 00:51:36,920 --> 00:51:42,120 Speaker 1: Democrats actually move up slightly with rule voters in Wisconsin, Minnesota, 886 00:51:42,200 --> 00:51:45,440 Speaker 1: and Arizona in the last election, but largely things got 887 00:51:45,520 --> 00:51:47,800 Speaker 1: worse for Democrats with wull voters across the country in 888 00:51:47,840 --> 00:51:50,120 Speaker 1: this last election. At least that's what the data looks 889 00:51:50,160 --> 00:51:52,840 Speaker 1: like so far. What is going to happen in the 890 00:51:53,000 --> 00:51:56,080 Speaker 1: next six to twelve months in this new administration that 891 00:51:56,200 --> 00:51:59,240 Speaker 1: may impact that for the long term, critical for democratic 892 00:52:00,080 --> 00:52:03,960 Speaker 1: That's incredibly fascinating, Doug. What's on your radar. My radar 893 00:52:04,200 --> 00:52:07,080 Speaker 1: is all about December the fifth, that's when Donald Trump 894 00:52:07,160 --> 00:52:12,360 Speaker 1: goes to Georgia ostensibly to help the two Republican Senate candidates. Um. So, 895 00:52:12,560 --> 00:52:14,600 Speaker 1: so what to look for is is that what he 896 00:52:14,680 --> 00:52:18,880 Speaker 1: does or does he spend more time talking about rigged elections, 897 00:52:18,960 --> 00:52:21,520 Speaker 1: stolen elections and all the other stuff, Which means that 898 00:52:21,600 --> 00:52:25,040 Speaker 1: the Republican Senate candidate can't talk about being a check 899 00:52:25,080 --> 00:52:28,000 Speaker 1: in balance against the Biden administration because they're still not 900 00:52:28,160 --> 00:52:30,160 Speaker 1: able to conceive that there's going to be one. And 901 00:52:30,320 --> 00:52:34,120 Speaker 1: what does that do for the for the election? That's 902 00:52:34,160 --> 00:52:36,839 Speaker 1: a that's a fascinating one. Um. And what do you think, 903 00:52:36,960 --> 00:52:40,640 Speaker 1: I mean, just what do you think will happen with that? Well, 904 00:52:40,760 --> 00:52:42,560 Speaker 1: you know, we saw we saw in the interview with 905 00:52:42,680 --> 00:52:46,840 Speaker 1: Maria barter Romo yesterday, Trump paid some lip service to 906 00:52:47,719 --> 00:52:50,040 Speaker 1: h Kelly Lefler and David Purdue and then went on 907 00:52:50,200 --> 00:52:52,760 Speaker 1: to talk about stolen elections and all this other stuff 908 00:52:52,760 --> 00:52:56,520 Speaker 1: and it wasn't stolen obviously. Um, and I sort of 909 00:52:56,600 --> 00:52:58,600 Speaker 1: expect the same. He will say the right thing that 910 00:52:58,719 --> 00:53:01,600 Speaker 1: he needs to for sentence or two, and then he'll 911 00:53:01,600 --> 00:53:03,960 Speaker 1: go back to talking about his favorite topic, which is himself. 912 00:53:05,680 --> 00:53:07,840 Speaker 1: But I mean this is I mean, in many ways, 913 00:53:08,239 --> 00:53:11,719 Speaker 1: if for President Trump, I mean his success in the 914 00:53:11,800 --> 00:53:14,960 Speaker 1: short term as a kingmaker in two as well as 915 00:53:15,160 --> 00:53:18,200 Speaker 1: if he wants to keep his own ambitions open. Really 916 00:53:18,280 --> 00:53:23,200 Speaker 1: do hinge a lot on on Georgia. No, in theory, yeah, 917 00:53:23,320 --> 00:53:26,600 Speaker 1: but the reality is, Um, we don't know what Donald 918 00:53:26,640 --> 00:53:28,520 Speaker 1: Trump wants to do next. See may be done with 919 00:53:28,640 --> 00:53:31,600 Speaker 1: politics altogether. He just wants may just want to keep 920 00:53:31,640 --> 00:53:34,560 Speaker 1: everybody talking about it. So potentially this could be one 921 00:53:35,160 --> 00:53:37,840 Speaker 1: last kick in the bust before he leaves. That's the 922 00:53:37,960 --> 00:53:40,719 Speaker 1: really ethnical political term. And and there's a great story 923 00:53:40,760 --> 00:53:42,960 Speaker 1: out in the Bloomberg Terminal that I was reading earlier 924 00:53:43,040 --> 00:53:45,560 Speaker 1: today that's that notes that some Wall Street Democrats are 925 00:53:45,600 --> 00:53:49,480 Speaker 1: actually sitting out the Georgia Senate race, which is only uh, 926 00:53:50,120 --> 00:53:53,959 Speaker 1: it's interesting to see just how a Republican controlled Senate 927 00:53:54,040 --> 00:53:58,719 Speaker 1: would impact the ability for progressives to try to move 928 00:53:58,800 --> 00:54:01,800 Speaker 1: President elect Joe Biden to the left. And again, the 929 00:54:01,880 --> 00:54:04,759 Speaker 1: check in the balance that Senajority Leader Mitch McConnell would 930 00:54:05,239 --> 00:54:10,640 Speaker 1: serve should Republicans have access or should Republicans have the 931 00:54:10,760 --> 00:54:14,000 Speaker 1: majority in the Senate. Here's what's on my radar. UM. 932 00:54:14,560 --> 00:54:17,520 Speaker 1: It's a vessel, a pipe layer, and it's named the 933 00:54:17,560 --> 00:54:23,040 Speaker 1: Academic Chair Scheme. And this is a Russian ship that 934 00:54:23,120 --> 00:54:27,520 Speaker 1: has been sailing for the past year from Russia's far 935 00:54:27,600 --> 00:54:30,640 Speaker 1: East around Africa to the Baltic Sea. It's a pipe 936 00:54:30,719 --> 00:54:33,680 Speaker 1: layer and it's involved in the creation of the eleven 937 00:54:33,760 --> 00:54:38,680 Speaker 1: billion dollar nord Stream to pipeline. Obviously, UM, Americans do 938 00:54:38,800 --> 00:54:43,040 Speaker 1: not want to see uh this. Uh. If this pipeline 939 00:54:43,040 --> 00:54:45,080 Speaker 1: comes to fruition, I'm gonna ask my panelist who has 940 00:54:45,120 --> 00:54:46,880 Speaker 1: me on speaker, to take it off just so we 941 00:54:47,000 --> 00:54:48,719 Speaker 1: can get a little bit of a better of a 942 00:54:48,760 --> 00:54:52,440 Speaker 1: sound connection. Now, the Academic Chair Scheme is shuttled between 943 00:54:52,520 --> 00:54:55,880 Speaker 1: an anchor point off Russia's Calangrad and the German point 944 00:54:56,160 --> 00:54:59,080 Speaker 1: of port of Moukron, and in recent months, according to 945 00:54:59,160 --> 00:55:02,880 Speaker 1: down Jones, US officials have readied broader sanctions. Members of Congress, 946 00:55:02,960 --> 00:55:05,800 Speaker 1: including the likes of Senator Ted Cruz, have been lobbying, 947 00:55:06,320 --> 00:55:11,080 Speaker 1: uh for there to be additional sanctions should this vessel 948 00:55:11,600 --> 00:55:14,319 Speaker 1: get to the North Stream to pipeline, which Americans are 949 00:55:14,400 --> 00:55:17,440 Speaker 1: arguing would be a much more would would really allow 950 00:55:17,560 --> 00:55:21,879 Speaker 1: for Europeans to be Russian energy dependent, which obviously would 951 00:55:21,880 --> 00:55:25,640 Speaker 1: have geopolitical concerns. It's fascinating because we mentioned these ships, 952 00:55:25,719 --> 00:55:29,279 Speaker 1: and we mentioned these policy developments happening around the world, 953 00:55:29,320 --> 00:55:31,160 Speaker 1: and folks, we have to remember that they're happening in 954 00:55:31,239 --> 00:55:34,400 Speaker 1: real time, that right now the ship is out there, uh, 955 00:55:34,480 --> 00:55:37,680 Speaker 1: and that these geo political tensions, as we report on confirmations, 956 00:55:37,920 --> 00:55:42,640 Speaker 1: as we report on appointees, there are real, real implications 957 00:55:42,719 --> 00:55:45,720 Speaker 1: to all of it. My thanks to Isaac Right, democratic 958 00:55:45,760 --> 00:55:48,759 Speaker 1: strategist partnered Forward Solution Strategy Group, and co founder of 959 00:55:48,760 --> 00:55:51,640 Speaker 1: the Rural Voter Institute. Doug High, former deputy chief of 960 00:55:51,680 --> 00:55:55,640 Speaker 1: staff for former House Majority Leader Eric Cancer and communications 961 00:55:55,680 --> 00:55:57,640 Speaker 1: director for the R and C, also a critic a 962 00:55:57,680 --> 00:56:02,759 Speaker 1: firm raider found that out today go birds, eagles, let's 963 00:56:02,800 --> 00:56:06,640 Speaker 1: go beat the Seahawks. Congressman Dwight Evans, thank you, Democrat 964 00:56:06,719 --> 00:56:10,680 Speaker 1: representing Pennsylvania's their congressional district. I'm Kevin CURRELLI, Chief Washington 965 00:56:10,719 --> 00:56:13,160 Speaker 1: correspondent from Bloomberg TV and Radio. You're listening to Bloomberg. 966 00:56:15,160 --> 00:56:17,480 Speaker 1: H m h