1 00:00:00,640 --> 00:00:03,320 Speaker 1: Live from our nation's camera. This budget thing is going 2 00:00:03,360 --> 00:00:06,240 Speaker 1: to do nothing spaceports. I still think it's interesting President 3 00:00:06,240 --> 00:00:10,440 Speaker 1: Trump not playing his cards yet. Headlines Policy and politics colliding, 4 00:00:10,560 --> 00:00:15,400 Speaker 1: Floomberg Sound On, the Insiders, the influencers, the insides. I 5 00:00:15,400 --> 00:00:18,080 Speaker 1: would rather see a congressional solution. It's part of my DNA. 6 00:00:18,360 --> 00:00:21,000 Speaker 1: The Senate map in looks a lot different than it 7 00:00:21,000 --> 00:00:24,400 Speaker 1: looked in. You really have a divide within Team Trump. 8 00:00:24,440 --> 00:00:26,800 Speaker 1: The present has to do exactly what people send him 9 00:00:26,800 --> 00:00:28,560 Speaker 1: here to do, which is to get it done. This 10 00:00:29,120 --> 00:00:34,160 Speaker 1: is Bloomberg Sound On with Kevin Shirling on Bloomberg one 11 00:00:34,320 --> 00:00:36,720 Speaker 1: and one oh five point seven fm h D two 12 00:00:37,320 --> 00:00:41,600 Speaker 1: Jobs Day US adds a hundred and thirty thousand jobs 13 00:00:41,640 --> 00:00:45,600 Speaker 1: in August. Jobless rate holds steady at three point seven 14 00:00:45,760 --> 00:00:48,839 Speaker 1: per cent. But what do the census job numbers have 15 00:00:48,960 --> 00:00:51,320 Speaker 1: to do with all of this? Meanwhile, that J. J. 16 00:00:51,520 --> 00:00:56,040 Speaker 1: Powell says the Fed will sustain expansion, reinforcing the rate 17 00:00:56,160 --> 00:01:00,120 Speaker 1: cut bet and an exclusive interview that are very you 18 00:01:00,160 --> 00:01:03,720 Speaker 1: know Jonathan Pharaoh did with Larry Cudlow. Folks, you don't 19 00:01:03,760 --> 00:01:07,200 Speaker 1: want to miss this. It was fiery. It was fiery, 20 00:01:07,240 --> 00:01:10,720 Speaker 1: to say the least a fiery Friday. Wendy Benjaminson is here. 21 00:01:10,760 --> 00:01:14,680 Speaker 1: Bloomberg News Politics editor Miranda Green is back the Star 22 00:01:14,760 --> 00:01:17,720 Speaker 1: Congressional reporter at the Hill. We're gonna check in with 23 00:01:17,840 --> 00:01:22,319 Speaker 1: Mandy Gonna Sakara, former Deputy Assistant Administrator at the e 24 00:01:22,560 --> 00:01:26,840 Speaker 1: p A, to talk all sorts, all sorts of environmental 25 00:01:27,280 --> 00:01:31,080 Speaker 1: protections as well, just as lawmakers are set to return 26 00:01:31,240 --> 00:01:35,960 Speaker 1: from congressional recess next week. But we're heading into the weekend. Friday. 27 00:01:36,040 --> 00:01:40,679 Speaker 1: Jobs numbers August job numbers. A hundred and thirty thousand 28 00:01:40,760 --> 00:01:45,399 Speaker 1: jobs added to the US economy in the month of August. 29 00:01:45,480 --> 00:01:51,280 Speaker 1: Jobless rate held steady at three point seven percent. Here 30 00:01:51,320 --> 00:01:53,800 Speaker 1: with me on the panel, Wendy Benjamin Sin Bloomberg News 31 00:01:53,800 --> 00:01:58,080 Speaker 1: Politics Editor Miranda Green, Congressional Reporter at the Hill. A 32 00:01:58,160 --> 00:02:03,040 Speaker 1: hundred and thirty thousand jobs added in the month of August. Wendy, 33 00:02:03,240 --> 00:02:06,840 Speaker 1: solid numbers, Solid numbers. Yeah, And if I were a Republican, 34 00:02:07,200 --> 00:02:10,080 Speaker 1: uh spinmeister, I would say that, you know, there are 35 00:02:10,240 --> 00:02:12,920 Speaker 1: the unemployment rate is so low that that's why there 36 00:02:12,960 --> 00:02:15,560 Speaker 1: were so many new you know, so that that's why 37 00:02:15,560 --> 00:02:18,680 Speaker 1: there were fewer new jobs than than expected. But you know, 38 00:02:18,760 --> 00:02:20,359 Speaker 1: that's what I would say if I were a Republican, 39 00:02:20,680 --> 00:02:23,040 Speaker 1: and Democrats can say, it's a sign that the economy 40 00:02:23,080 --> 00:02:26,440 Speaker 1: is slowing and we need to change. Bloomberg terminal headline 41 00:02:26,600 --> 00:02:32,639 Speaker 1: reads jobs reports shows US labor market cracking, but not crumbling. 42 00:02:32,720 --> 00:02:36,760 Speaker 1: Week August jobs gain signaled the US labor market slow 43 00:02:36,800 --> 00:02:39,680 Speaker 1: down is deepening as the trade war with China takes 44 00:02:39,680 --> 00:02:42,320 Speaker 1: a toll on the economy, even as some details of 45 00:02:42,320 --> 00:02:45,880 Speaker 1: the report suggested a recession is far from eminence. So mixed, 46 00:02:46,040 --> 00:02:48,400 Speaker 1: I mean mixed numbers in terms of what to expect. 47 00:02:48,680 --> 00:02:51,079 Speaker 1: The average monthly job gains of a hundred and fifty 48 00:02:51,080 --> 00:02:53,880 Speaker 1: eight thousand this year are down sharply from two hundred 49 00:02:53,880 --> 00:02:57,000 Speaker 1: and twenty three thousand in two thousand and eighteen. But 50 00:02:57,160 --> 00:02:58,560 Speaker 1: I mean, if you look at the pace of it, 51 00:02:58,560 --> 00:03:01,919 Speaker 1: it's still more than enough to keep pace with population growth. 52 00:03:02,000 --> 00:03:05,440 Speaker 1: I was struck by this, Miranda Green, congressional reporter for 53 00:03:05,600 --> 00:03:10,919 Speaker 1: the Hill. Private payrolls, private payrolls, payrolls rose nineties six thousand, 54 00:03:11,000 --> 00:03:13,960 Speaker 1: that's a three month low according to the Labor Department. 55 00:03:14,400 --> 00:03:17,120 Speaker 1: And then when you look at the census numbers, and 56 00:03:17,120 --> 00:03:19,120 Speaker 1: this is what the buzz was. Lukawa up in New 57 00:03:19,160 --> 00:03:24,359 Speaker 1: York Bloomberg's Lukawa talking all about the Census, the census 58 00:03:24,440 --> 00:03:27,360 Speaker 1: jobs numbers, because remember, folks, there's a sensus coming up. 59 00:03:27,360 --> 00:03:30,480 Speaker 1: We've talked about it with immigration and whatnot, but twenty 60 00:03:30,520 --> 00:03:35,240 Speaker 1: five thousand, twenty five thousand temporary government workers were hired 61 00:03:35,960 --> 00:03:39,600 Speaker 1: uh TO in order to prep for the census. So 62 00:03:39,880 --> 00:03:43,400 Speaker 1: you know, yeah, what's interesting too, is you you hear 63 00:03:43,520 --> 00:03:45,840 Speaker 1: you know. White House Economic advisor Larry Cutlow on a 64 00:03:45,840 --> 00:03:49,320 Speaker 1: couple of interviews today talking about how these were solid numbers. 65 00:03:49,400 --> 00:03:52,120 Speaker 1: He called it August is a quirky month in his 66 00:03:52,160 --> 00:03:55,200 Speaker 1: own words, because so many people take vacation, so the 67 00:03:55,280 --> 00:03:58,920 Speaker 1: numbers are potentially likely to be changed. They could go up, 68 00:03:58,960 --> 00:04:01,480 Speaker 1: they could go down. Um. In June and July we 69 00:04:01,600 --> 00:04:05,800 Speaker 1: both saw a readjustment of those numbers going down slightly. UM. 70 00:04:05,920 --> 00:04:10,040 Speaker 1: But he very much praised this new household survey, which 71 00:04:10,080 --> 00:04:13,120 Speaker 1: he called a blowout in terms of um, you know, 72 00:04:13,160 --> 00:04:15,240 Speaker 1: being at the third straight month where they saw a 73 00:04:15,440 --> 00:04:18,039 Speaker 1: huge growth there. Yeah, you know, I think that's a 74 00:04:18,040 --> 00:04:20,200 Speaker 1: great point because I know, you look at this whether 75 00:04:20,279 --> 00:04:23,080 Speaker 1: Wendy and Mirandy are both making this point here, and 76 00:04:23,160 --> 00:04:27,480 Speaker 1: it's so important. There is no consensus that there is 77 00:04:27,560 --> 00:04:31,159 Speaker 1: definitely going to be a recession. And it's so important 78 00:04:31,200 --> 00:04:36,040 Speaker 1: to talk about this because especially once recession chatter happens 79 00:04:36,040 --> 00:04:41,560 Speaker 1: in the political lends and the political angst of Democrats 80 00:04:41,560 --> 00:04:43,839 Speaker 1: saying we'll see that, I mean, these policies led us 81 00:04:43,880 --> 00:04:46,200 Speaker 1: to a recession, and Republicans saying, well, if you vote 82 00:04:46,200 --> 00:04:49,080 Speaker 1: for Democrats, there's gonna be a recession. Let's look at 83 00:04:49,120 --> 00:04:52,880 Speaker 1: the numbers. Let's take our breath, and let's number one. 84 00:04:53,240 --> 00:04:56,279 Speaker 1: Note that number one, there is not definitely going to 85 00:04:56,360 --> 00:04:59,320 Speaker 1: be a recession. And number two, if there is to 86 00:04:59,400 --> 00:05:04,160 Speaker 1: be an economic slowdown, it's not going to be anything like. 87 00:05:04,440 --> 00:05:06,960 Speaker 1: No or what I should say is based upon my reporting. 88 00:05:07,000 --> 00:05:09,520 Speaker 1: No one is saying that it will be anything like 89 00:05:10,120 --> 00:05:14,000 Speaker 1: the two thousand and eight Great Recession. You mentioned. Larry Cudlow, 90 00:05:14,040 --> 00:05:16,560 Speaker 1: Did you guys hear this? I mean Larry Cudlow, the 91 00:05:16,560 --> 00:05:20,000 Speaker 1: President's chief economic advisor. He was on Bloomberg Television with 92 00:05:20,080 --> 00:05:24,480 Speaker 1: Jonathan Farall earlier today and they were talking about Bill 93 00:05:24,560 --> 00:05:29,400 Speaker 1: Dudley because Cudlow went after Bill Dudley because the Dudley 94 00:05:29,440 --> 00:05:31,680 Speaker 1: is the former president of the New York Federal Reserve. 95 00:05:32,000 --> 00:05:34,560 Speaker 1: And he wrote these two op eds on Bloomberg dot 96 00:05:34,640 --> 00:05:39,320 Speaker 1: com that said essentially, the Bank should avoid cutting interest 97 00:05:39,400 --> 00:05:42,280 Speaker 1: rates to soften the economic impact of the U. S. 98 00:05:42,360 --> 00:05:45,880 Speaker 1: China trade war, and then in a previous iteration he 99 00:05:45,960 --> 00:05:48,640 Speaker 1: had to clarify this, and a follow up Bloomberg op 100 00:05:48,800 --> 00:05:52,000 Speaker 1: ed essentially said that the Fed should be, you know, 101 00:05:52,720 --> 00:05:57,920 Speaker 1: doing policy that would prevent President Trump from getting reelected. 102 00:05:57,960 --> 00:06:00,880 Speaker 1: He way backed off, way back. I know you want 103 00:06:00,880 --> 00:06:02,960 Speaker 1: to try him here, but he way backed off in 104 00:06:03,040 --> 00:06:10,280 Speaker 1: the follow up OpEd but he stepped at it. He yes, speechless. 105 00:06:10,839 --> 00:06:17,400 Speaker 1: It was left me speechless. Was that a federal reserve governor, 106 00:06:17,480 --> 00:06:21,800 Speaker 1: federal reserve guy of any kind would suggest politicizing the Fed. 107 00:06:22,520 --> 00:06:24,600 Speaker 1: It's one thing for Trump to say things like that. 108 00:06:24,640 --> 00:06:26,719 Speaker 1: President Trump, he says stuff like that all the time. 109 00:06:26,760 --> 00:06:29,080 Speaker 1: He wants to politicize everything. He wants everyone to be 110 00:06:29,120 --> 00:06:33,200 Speaker 1: loyal to him. But for the FED to respond that 111 00:06:33,240 --> 00:06:35,800 Speaker 1: they should now become a political organ would just throw 112 00:06:35,839 --> 00:06:38,960 Speaker 1: the American economy into chaos. Who says the Central bank? Sport? 113 00:06:39,000 --> 00:06:42,039 Speaker 1: All right, let's play a chunk of I was like 114 00:06:42,160 --> 00:06:44,279 Speaker 1: glued to this saga all weeks. I want to play 115 00:06:44,320 --> 00:06:46,280 Speaker 1: a chunk of of the interview that are that my 116 00:06:46,279 --> 00:06:48,680 Speaker 1: buddy Jonathan Fara did with Larry Condo. Take a listen. 117 00:06:49,160 --> 00:06:53,960 Speaker 1: President has made his views clear. He's very outspoken, he's 118 00:06:54,080 --> 00:06:59,400 Speaker 1: very well informed. Our view has always been that the 119 00:06:59,480 --> 00:07:03,839 Speaker 1: monitary a policy seven rate hikes in the last two years, 120 00:07:03,960 --> 00:07:10,760 Speaker 1: nine rate hikes, way too tight. We've had severe monetary headwinds. 121 00:07:11,240 --> 00:07:13,160 Speaker 1: You know, it's a wonder we're growing at two and 122 00:07:13,160 --> 00:07:16,080 Speaker 1: a half to three percent with these monetary headwinds. Okay, 123 00:07:16,120 --> 00:07:19,560 Speaker 1: that's one key point with respect to Bill Dudley, whom 124 00:07:19,560 --> 00:07:23,160 Speaker 1: I have known for many years. Bill Dudley went over 125 00:07:23,200 --> 00:07:27,440 Speaker 1: the cliff. What Bill dudley statements suggested is that the 126 00:07:27,440 --> 00:07:34,600 Speaker 1: Federal Reserve should adopt a monetary policy geared towards defeating 127 00:07:34,960 --> 00:07:41,520 Speaker 1: President Trump in now. That is the most politicized statement 128 00:07:41,640 --> 00:07:45,280 Speaker 1: I have ever heard, and the current Federal Reserve Board 129 00:07:45,920 --> 00:07:49,000 Speaker 1: disavowted walked away from it, which is a good thing. 130 00:07:49,560 --> 00:07:53,760 Speaker 1: Mr Dudley stepped over the cliff. He's been criticized heavily 131 00:07:53,880 --> 00:07:58,400 Speaker 1: by Democrats, like my friend Larry Summers, for example. I 132 00:07:58,520 --> 00:08:01,920 Speaker 1: will weigh in on that Briticism. The idea that you 133 00:08:01,960 --> 00:08:07,560 Speaker 1: conduct monetary policy towards somehow influencing an election outcome is 134 00:08:07,640 --> 00:08:14,040 Speaker 1: just utter nonsense. The FED is an independent agency. We've 135 00:08:14,080 --> 00:08:18,280 Speaker 1: always said that, but then again, we have our opinions 136 00:08:18,360 --> 00:08:22,400 Speaker 1: about the state of monetary policy. Market is telling us 137 00:08:22,880 --> 00:08:26,360 Speaker 1: the FED is going to lower rates in September and October. 138 00:08:26,680 --> 00:08:29,440 Speaker 1: I think that's a good thing. We shouldn't have an 139 00:08:29,440 --> 00:08:32,760 Speaker 1: inverted yield curve. We should normalize that, and I think 140 00:08:32,760 --> 00:08:35,360 Speaker 1: if we get to a normal position, it will actually 141 00:08:35,400 --> 00:08:39,760 Speaker 1: help the economy get back above three. Dudley, who then 142 00:08:39,800 --> 00:08:43,400 Speaker 1: wrote a second article on Bloomberg, which did not recant 143 00:08:43,640 --> 00:08:48,760 Speaker 1: the first article, is trying to politicize this election and 144 00:08:48,920 --> 00:08:52,960 Speaker 1: lead some sort of anti Trump, you know, the revolution 145 00:08:53,120 --> 00:08:55,760 Speaker 1: or whatever the heck is called. That is nonsense. He 146 00:08:55,880 --> 00:08:58,680 Speaker 1: is so far off the charts, he is over the cliff. 147 00:08:58,880 --> 00:09:02,160 Speaker 1: He has no support, I hope. But in any event, 148 00:09:02,360 --> 00:09:06,480 Speaker 1: in any event, the fattest professional, they are independent. They're 149 00:09:06,480 --> 00:09:09,640 Speaker 1: gonna do what I think they need to do, and 150 00:09:09,679 --> 00:09:12,080 Speaker 1: that's going to help the economy. And again I go 151 00:09:12,160 --> 00:09:17,080 Speaker 1: back to today's job numbers. America is working, and American 152 00:09:17,160 --> 00:09:20,760 Speaker 1: workers are coming back into the labor force. They're getting paid, 153 00:09:21,200 --> 00:09:26,080 Speaker 1: they're spending, they're saving, they're producing. We're in pretty darn 154 00:09:26,120 --> 00:09:28,480 Speaker 1: good shape. If you ask me, Larry, final question for you, 155 00:09:28,520 --> 00:09:31,000 Speaker 1: because Bill Dudley did clarify that piece, as you mentioned, 156 00:09:31,000 --> 00:09:33,960 Speaker 1: he trying to walk it back somewhat. That criticism remains. 157 00:09:34,040 --> 00:09:36,360 Speaker 1: But I'm trying to understand the difference between what Larry 158 00:09:36,400 --> 00:09:39,319 Speaker 1: cudlo is pushing back on and what Larry Cutler and 159 00:09:39,360 --> 00:09:41,120 Speaker 1: the White House is doing right now with regards to 160 00:09:41,160 --> 00:09:43,960 Speaker 1: respecting the political independence from the Federal Reserve. There's not 161 00:09:44,040 --> 00:09:46,520 Speaker 1: a big gap between that piece and what you guys 162 00:09:46,520 --> 00:09:50,040 Speaker 1: are pushing for. Oh I, I just couldn't disagree more 163 00:09:50,160 --> 00:09:54,080 Speaker 1: with respect, Jonathan. I'm sorry, there's no moral equivalence between 164 00:09:54,080 --> 00:09:58,280 Speaker 1: the two. We have never suggested that FED policy should 165 00:09:58,320 --> 00:10:02,800 Speaker 1: be geared towards elections. What we have suggested is the 166 00:10:02,960 --> 00:10:09,840 Speaker 1: FED policy should be geared towards maximum economic prosperity. And 167 00:10:10,240 --> 00:10:14,440 Speaker 1: we have noted many times there is no inflation, I 168 00:10:14,440 --> 00:10:17,080 Speaker 1: mean the inflation break even as you yourself know as 169 00:10:17,160 --> 00:10:20,440 Speaker 1: well as anybody is down around one one and a 170 00:10:20,520 --> 00:10:24,360 Speaker 1: quarter percent, which is what rich Clarenda vice chair has said, 171 00:10:24,520 --> 00:10:27,120 Speaker 1: and what the Chairman has said. That's a different issue. 172 00:10:27,400 --> 00:10:31,800 Speaker 1: We want maximum prosperity, job creation, and stay with the 173 00:10:31,880 --> 00:10:36,160 Speaker 1: low inflation. We're not out there talking about a campaign, Larry, 174 00:10:36,160 --> 00:10:42,800 Speaker 1: I agree with that you're not talking about specifically. That 175 00:10:43,000 --> 00:10:47,319 Speaker 1: is a Dudley LinkedIn specifically to the election. That is 176 00:10:47,360 --> 00:10:52,320 Speaker 1: a new low age and he's a former senior Fed official. 177 00:10:52,640 --> 00:10:57,000 Speaker 1: And look, the Federals are board disvowed properly so and 178 00:10:57,080 --> 00:11:03,960 Speaker 1: I can tell you internally from my conversations, they were horrified, horrified. Wow, fiery, 179 00:11:04,000 --> 00:11:08,319 Speaker 1: fiery exchange there between Larry Cudlow and our verio, Jonathan Farrow. 180 00:11:08,360 --> 00:11:11,680 Speaker 1: An excellent interview from Jonathan Farrow with the President's chief 181 00:11:11,679 --> 00:11:14,240 Speaker 1: economic advisor, about all of that drama. Really it was 182 00:11:14,360 --> 00:11:17,240 Speaker 1: drama from Bill Dudley, the former president of the New 183 00:11:17,320 --> 00:11:20,000 Speaker 1: York Federal Reserve. And there's two Bloomberg op eds about 184 00:11:20,320 --> 00:11:23,080 Speaker 1: what's been going on between President Trump and the Central Bank. 185 00:11:23,440 --> 00:11:26,120 Speaker 1: Coming up, we're gonna get more panel reaction. Miranda Green's 186 00:11:26,120 --> 00:11:29,640 Speaker 1: here from the Hill. Wendy Benjaminson is back, Bloomberg News 187 00:11:29,679 --> 00:11:33,600 Speaker 1: Politics editor. We dive into I'm Kevin's really cheap Washington 188 00:11:33,600 --> 00:11:36,800 Speaker 1: correspondent for Blomberg Television and Bloomberg Radio. And you're listening 189 00:11:36,800 --> 00:11:47,439 Speaker 1: to Bloomberg. You're listening to Bloomberg Sound On with Kevin 190 00:11:47,480 --> 00:11:51,400 Speaker 1: Surreley on Bloomberg and one oh five point seven f 191 00:11:51,520 --> 00:11:55,439 Speaker 1: M h D two. Now that the presidents feeling pressure 192 00:11:55,440 --> 00:11:59,720 Speaker 1: on the economy, he's becoming and we're teener nine a recession. 193 00:11:59,800 --> 00:12:05,360 Speaker 1: He becoming more. That was former Vice President Joe Biden, 194 00:12:05,480 --> 00:12:09,559 Speaker 1: the front runner, during a town hall in New Hampshire earlier. 195 00:12:09,679 --> 00:12:13,440 Speaker 1: The Democratic presidential candidate told his supporters that another four 196 00:12:13,520 --> 00:12:16,360 Speaker 1: years of President Donald Trump in the White House would 197 00:12:16,400 --> 00:12:21,640 Speaker 1: fundamentally alter the country. Here with me in studio, Wendy 198 00:12:21,640 --> 00:12:25,959 Speaker 1: Benjamin's in Bloomberg News politics editor Miranda Green, congressional reporter 199 00:12:26,440 --> 00:12:29,120 Speaker 1: at the Hill. Wendy, we were talking earlier about the 200 00:12:29,200 --> 00:12:34,920 Speaker 1: jobs numbers, solid steady jobs numbers there that were released today. 201 00:12:35,040 --> 00:12:39,400 Speaker 1: There were a job support showing the US labor market 202 00:12:39,880 --> 00:12:45,920 Speaker 1: cracking but not crumbling, and that essentially there were an 203 00:12:45,960 --> 00:12:48,960 Speaker 1: average monthly jobs gains of a D fifty hundred and 204 00:12:48,960 --> 00:12:54,439 Speaker 1: fifty eight thousand this year alone. But there's some recession 205 00:12:54,600 --> 00:12:57,840 Speaker 1: fears out there that this could happen. And you hear 206 00:12:57,880 --> 00:13:01,240 Speaker 1: that and Biden on the campaign trail essentially saying, look, 207 00:13:01,280 --> 00:13:03,400 Speaker 1: the economy is not doing as well as it should 208 00:13:04,040 --> 00:13:08,120 Speaker 1: and and whatnot I mean is that a smart contrast 209 00:13:08,160 --> 00:13:10,920 Speaker 1: for Biden to be making yes, I think it is. 210 00:13:11,080 --> 00:13:14,800 Speaker 1: I think that the Democrats have every read reason to 211 00:13:15,280 --> 00:13:19,160 Speaker 1: poke a hole in Trump's central reelection argument, which is 212 00:13:19,559 --> 00:13:22,439 Speaker 1: I gave you this economy, and if you vote for 213 00:13:22,480 --> 00:13:25,319 Speaker 1: the Democrats, they're gonna raise your taxes, They're gonna undo 214 00:13:25,360 --> 00:13:28,079 Speaker 1: the things I've done, and you know everything's going to 215 00:13:28,160 --> 00:13:31,480 Speaker 1: go to attack and I am asking but the But 216 00:13:31,800 --> 00:13:35,000 Speaker 1: so the Democrats are threading a line between not cheering 217 00:13:35,040 --> 00:13:39,920 Speaker 1: for a recession but pointing out every fact that works 218 00:13:39,960 --> 00:13:42,320 Speaker 1: to that argument that there could be a recession and 219 00:13:42,360 --> 00:13:44,920 Speaker 1: that they're the ones to save us from Trump. Economics 220 00:13:44,920 --> 00:13:47,600 Speaker 1: market Watch headline reads US creates just a hundred and 221 00:13:47,679 --> 00:13:50,640 Speaker 1: thirty thousand new jobs in August, keeping FED on track 222 00:13:50,720 --> 00:13:53,559 Speaker 1: to cut rate. So the Fed not necessarily going to 223 00:13:53,600 --> 00:13:56,200 Speaker 1: be impacted by August jobs numbers. Miranda Green, I mean 224 00:13:56,240 --> 00:13:59,520 Speaker 1: you follow closely all of the different nuances with all 225 00:13:59,559 --> 00:14:01,920 Speaker 1: of the Democratic candidates. Were just a couple of days 226 00:14:01,920 --> 00:14:06,360 Speaker 1: away now from the third presidential debate. What will happen 227 00:14:06,440 --> 00:14:10,679 Speaker 1: this weekend that could shake up things in Houston? I mean, 228 00:14:10,720 --> 00:14:13,320 Speaker 1: there's a there's a lot that can happen, especially you 229 00:14:13,360 --> 00:14:16,360 Speaker 1: know the fact that the third debate is happening next week. 230 00:14:16,440 --> 00:14:21,360 Speaker 1: Candidates are trying to get ahead of the stage. The 231 00:14:21,400 --> 00:14:23,800 Speaker 1: fact that they're all going to be there together kind 232 00:14:23,800 --> 00:14:26,400 Speaker 1: of uh, you know, talking about their different platforms than 233 00:14:26,480 --> 00:14:28,720 Speaker 1: the fact that they're going to have to have a 234 00:14:28,840 --> 00:14:31,760 Speaker 1: leg up on each other. These are all topics. Were 235 00:14:31,800 --> 00:14:34,160 Speaker 1: coming off of a week where we just had a 236 00:14:34,240 --> 00:14:37,880 Speaker 1: climate platform debate where all the candidates, the Democratic candidates 237 00:14:37,920 --> 00:14:39,720 Speaker 1: were on stage trying to kind of one up each 238 00:14:39,760 --> 00:14:42,040 Speaker 1: other in that fields. Climate change has become a huge 239 00:14:42,040 --> 00:14:45,720 Speaker 1: topic for Democrats, and now they're looking at ways to 240 00:14:45,760 --> 00:14:49,160 Speaker 1: differentiate themselves from Trump. Obviously this is uh, the economy 241 00:14:49,280 --> 00:14:52,120 Speaker 1: is a big one there. Trump has used jobs as 242 00:14:52,240 --> 00:14:56,080 Speaker 1: a huge platform for himself. Even looking at the energy sphere, 243 00:14:56,160 --> 00:14:58,880 Speaker 1: He's talked about how not only has he been a 244 00:14:58,960 --> 00:15:03,440 Speaker 1: strong person to lead in the climate field because he 245 00:15:03,520 --> 00:15:06,600 Speaker 1: has brought clean air and clean water to United States, 246 00:15:06,600 --> 00:15:09,600 Speaker 1: but he also has strengthened gas and oil. We were 247 00:15:09,640 --> 00:15:11,520 Speaker 1: talking about this in the break, the three of us 248 00:15:11,760 --> 00:15:14,440 Speaker 1: and I just coming up. We're gonna check in with 249 00:15:14,680 --> 00:15:18,200 Speaker 1: Mandy Gonna Sakara. Gonna Sakara, I apologize. She's the former 250 00:15:18,200 --> 00:15:20,880 Speaker 1: deputy assistant administrator at the E p A. But but 251 00:15:21,000 --> 00:15:23,920 Speaker 1: just to get both of your takes on this, I'm 252 00:15:24,040 --> 00:15:25,880 Speaker 1: I'm I'm not making light of this. I'm a reporter. 253 00:15:25,920 --> 00:15:27,360 Speaker 1: I don't have an opinion one where I mean, I 254 00:15:27,440 --> 00:15:30,160 Speaker 1: might have an opinion, but but on the issue of 255 00:15:30,200 --> 00:15:34,240 Speaker 1: paper straws, I just but I think that the President 256 00:15:34,280 --> 00:15:38,200 Speaker 1: and Republicans have done a pretty successful job of saying 257 00:15:39,240 --> 00:15:41,960 Speaker 1: it's not about global warming, it's about paper straws. In 258 00:15:42,000 --> 00:15:46,080 Speaker 1: the same way that they've convinced there the Republicans to say, 259 00:15:46,160 --> 00:15:49,360 Speaker 1: the Democrats are AOC and the squad, and they fell 260 00:15:49,480 --> 00:15:53,120 Speaker 1: right into it. They walked right into the trap you're 261 00:15:53,120 --> 00:15:56,200 Speaker 1: talking about the hall and they were all asked about it, 262 00:15:56,240 --> 00:15:58,160 Speaker 1: and no one really gave a good answer. No, And 263 00:15:58,200 --> 00:16:01,520 Speaker 1: they were talking about light bulbs and straws and things 264 00:16:01,520 --> 00:16:05,200 Speaker 1: like that. We are not going to fix to address 265 00:16:05,280 --> 00:16:08,720 Speaker 1: climate change by taking these small steps. And the Republicans 266 00:16:08,720 --> 00:16:11,440 Speaker 1: have made it clear that their argument is, you know, 267 00:16:12,360 --> 00:16:14,360 Speaker 1: this is this, it has to be bigger than this. 268 00:16:14,760 --> 00:16:17,080 Speaker 1: And the Democrats were just falling into it by talking 269 00:16:17,120 --> 00:16:21,240 Speaker 1: about cheeseburgers, which is a reference to reducing methane, which 270 00:16:21,240 --> 00:16:23,520 Speaker 1: is a serious thing, but it's more fun on TV 271 00:16:23,640 --> 00:16:27,880 Speaker 1: to talk about cheeseburgers and the Democrat give us the 272 00:16:27,960 --> 00:16:30,640 Speaker 1: because you follow this, you report on this for the Hill, 273 00:16:31,160 --> 00:16:33,800 Speaker 1: but give us the like, take take a breath and 274 00:16:33,840 --> 00:16:36,560 Speaker 1: tell us exactly what the paper straw issue has done 275 00:16:36,880 --> 00:16:40,240 Speaker 1: for this Democrat for the Democratic race. Well, the Democrats 276 00:16:40,240 --> 00:16:44,760 Speaker 1: are obviously pushing clean energy initiatives and different methods that 277 00:16:44,840 --> 00:16:47,880 Speaker 1: they can use to get us closer to attacking the 278 00:16:48,040 --> 00:16:51,280 Speaker 1: climate issue, or as they call the climate crisis. And 279 00:16:51,520 --> 00:16:54,320 Speaker 1: most of these climate plans that a lot of candidates 280 00:16:54,360 --> 00:16:57,720 Speaker 1: are unearthing are tied to the economy. It's this idea 281 00:16:57,760 --> 00:17:01,360 Speaker 1: of reworking the economy to bring clear jobs and to 282 00:17:01,560 --> 00:17:05,119 Speaker 1: push us towards more renewable energy initiatives. And a lot 283 00:17:05,160 --> 00:17:07,520 Speaker 1: of that is getting rid of pollution. And so plastic 284 00:17:07,760 --> 00:17:09,720 Speaker 1: is a big issue for a lot of people. It 285 00:17:09,840 --> 00:17:14,160 Speaker 1: comes from petroleum, and we've seen a lot of states 286 00:17:14,240 --> 00:17:17,280 Speaker 1: mostly pushing initiatives to kind of put a ban on 287 00:17:17,359 --> 00:17:20,199 Speaker 1: plastic straws. California is one of the first states to 288 00:17:20,280 --> 00:17:24,080 Speaker 1: do that. So to see Senator Kamala Harris talked about 289 00:17:24,080 --> 00:17:27,520 Speaker 1: plastic straws at the debate was rather interesting because even 290 00:17:27,560 --> 00:17:30,119 Speaker 1: she admitted that it is very frustrating to have to 291 00:17:30,160 --> 00:17:32,520 Speaker 1: drink out of paper straws. I don't think many of 292 00:17:32,560 --> 00:17:36,280 Speaker 1: us would say that there's not but she said that 293 00:17:36,359 --> 00:17:38,879 Speaker 1: she didn't like them. They don't work. And then she 294 00:17:38,920 --> 00:17:41,639 Speaker 1: said that she would ban thematic, that she would ban 295 00:17:41,760 --> 00:17:44,639 Speaker 1: plastic straws, and and and even it was it was 296 00:17:44,800 --> 00:17:47,680 Speaker 1: very I don't know, it was confusing. I really don't 297 00:17:47,760 --> 00:17:50,840 Speaker 1: understand her position on it in order. I mean, I 298 00:17:50,840 --> 00:17:53,000 Speaker 1: don't know, mar And I mean, you covered all of this, 299 00:17:53,480 --> 00:17:55,880 Speaker 1: the nuance of it, and we we see this a lot. 300 00:17:55,920 --> 00:17:58,440 Speaker 1: I think there's the Democrats are kind of between a 301 00:17:58,520 --> 00:18:00,920 Speaker 1: rock and a hard place, between this idea of where 302 00:18:00,960 --> 00:18:03,119 Speaker 1: what they want to achieve and what they think they 303 00:18:03,160 --> 00:18:05,159 Speaker 1: need to do in order to get the planet and 304 00:18:05,200 --> 00:18:07,880 Speaker 1: get the government in a direction where we can be, 305 00:18:08,320 --> 00:18:11,680 Speaker 1: you know, working against climate change. But we even saw 306 00:18:11,720 --> 00:18:14,080 Speaker 1: this with the Green New Deals roll out earlier this year, 307 00:18:14,160 --> 00:18:16,160 Speaker 1: when we saw the Green New Dual resolution being rolled 308 00:18:16,160 --> 00:18:20,520 Speaker 1: out by Representative Alexandra Acsio Cortez, the Republicans seized on 309 00:18:20,560 --> 00:18:22,520 Speaker 1: a line and they're talking about getting rid of air 310 00:18:22,560 --> 00:18:25,800 Speaker 1: travel altogether, right, and so the line was, you know, 311 00:18:26,040 --> 00:18:29,480 Speaker 1: they later the representatives kind of rolled walked it back 312 00:18:29,520 --> 00:18:32,760 Speaker 1: and said that they have a goal of not having 313 00:18:32,800 --> 00:18:35,680 Speaker 1: a reliance on air travel because it burned so many 314 00:18:35,720 --> 00:18:39,000 Speaker 1: fosil fuels. But to to say that and look at 315 00:18:39,040 --> 00:18:41,320 Speaker 1: where we are now, where candidates are flying all over 316 00:18:41,600 --> 00:18:44,240 Speaker 1: the place right now, for I mean, if you want 317 00:18:44,240 --> 00:18:46,560 Speaker 1: to ask Bernie Sanders, or if you want to ask 318 00:18:46,560 --> 00:18:48,760 Speaker 1: Elizabeth Warren how they are getting out to Iowa and 319 00:18:48,800 --> 00:18:50,600 Speaker 1: back and forth to votes in d C. I don't 320 00:18:50,600 --> 00:18:54,040 Speaker 1: think it's response on this. We've gotta coming up. We're 321 00:18:54,080 --> 00:18:56,760 Speaker 1: gonna talk more. We're gonna check in with with Mandy 322 00:18:56,760 --> 00:18:59,159 Speaker 1: Gunnis to car Carra about this. She's the former deputy 323 00:18:59,160 --> 00:19:01,600 Speaker 1: assistant a straighter at the e p A. I thought 324 00:19:01,600 --> 00:19:05,800 Speaker 1: Elizabeth Warren's pivot to hey, this is a small ball, 325 00:19:05,960 --> 00:19:08,760 Speaker 1: let's talk about this. She illustrated the point that she 326 00:19:08,840 --> 00:19:11,920 Speaker 1: was trying to make much more effectively than Kamala Harris did, 327 00:19:11,920 --> 00:19:14,119 Speaker 1: who tried to laugh off the issue of paper straws 328 00:19:14,119 --> 00:19:16,480 Speaker 1: and left me wondering, well, what is your policy? Whereas 329 00:19:16,480 --> 00:19:19,240 Speaker 1: Warren used it as an opportunity to pivot to saying 330 00:19:19,280 --> 00:19:21,160 Speaker 1: we have to talk when you'll give you the last 331 00:19:21,160 --> 00:19:23,560 Speaker 1: world we did and I was gonna say she did 332 00:19:23,600 --> 00:19:25,840 Speaker 1: do that yes, and I think Joe Biden was going 333 00:19:25,960 --> 00:19:27,880 Speaker 1: to go there and then he got tripped up by 334 00:19:27,920 --> 00:19:30,880 Speaker 1: this donor who used to work for a fossil fueld 335 00:19:30,920 --> 00:19:33,440 Speaker 1: company and he never got his message out. I'll put 336 00:19:33,480 --> 00:19:35,480 Speaker 1: my one lessons on that too, and I actually I 337 00:19:35,480 --> 00:19:37,199 Speaker 1: think it has to do with that is why we 338 00:19:37,280 --> 00:19:40,440 Speaker 1: had this forum, because it comes down to these candidates 339 00:19:40,520 --> 00:19:43,119 Speaker 1: who had their their climate action plan out earliest. I mean, 340 00:19:43,119 --> 00:19:47,800 Speaker 1: Harris released her plan that morning, Warren has had her 341 00:19:47,800 --> 00:19:51,720 Speaker 1: as coming out no, and that that matters to to wants, 342 00:19:51,840 --> 00:19:54,639 Speaker 1: especially who are likely to vote in the primary. All right, 343 00:19:54,640 --> 00:19:57,080 Speaker 1: panel stays coming up more politics and policy. I'm Kevin 344 00:19:57,160 --> 00:20:05,000 Speaker 1: s Really you're listening to Bloomberg nine one. This is 345 00:20:05,040 --> 00:20:10,400 Speaker 1: Bloomberg Sound On with Kevin Surreley on Bloomberg and one 346 00:20:10,400 --> 00:20:14,000 Speaker 1: oh five point seven h D two. Happy Friday, folks. 347 00:20:14,040 --> 00:20:17,480 Speaker 1: I'm Kevin Curreli, chief Washington correspondent for Bloomberg Television and 348 00:20:17,480 --> 00:20:19,840 Speaker 1: Bloomberg Radio. We made it to the end of the week, 349 00:20:19,880 --> 00:20:23,399 Speaker 1: a week where Democrats at that CNN town hall forum, 350 00:20:23,440 --> 00:20:26,480 Speaker 1: not technically a debate that will happen next week on ABC, 351 00:20:27,000 --> 00:20:30,119 Speaker 1: but they were talking about the environment and trying to 352 00:20:30,160 --> 00:20:34,720 Speaker 1: differentiate themselves amongst each other on the issues pertaining two 353 00:20:34,960 --> 00:20:38,360 Speaker 1: environment regulations. It comes in a week in which President 354 00:20:38,359 --> 00:20:43,200 Speaker 1: Trump lifted some regulations for light bulbs Obama era regulations, 355 00:20:43,560 --> 00:20:47,280 Speaker 1: and the contrast being drawn not just between Republicans and Democrats, 356 00:20:47,520 --> 00:20:52,600 Speaker 1: but also the really the Democrats themselves on broader issues 357 00:20:52,600 --> 00:20:57,920 Speaker 1: pertaining to cold regulations and everyday issues pertaining to paper straws. 358 00:20:58,000 --> 00:21:02,680 Speaker 1: Joining us on the line is Mandy Gonna Sakara. Gonna Sakara, 359 00:21:02,720 --> 00:21:06,640 Speaker 1: I apologize. Mandy. She previously worked. She's a veteran Republican 360 00:21:06,680 --> 00:21:10,800 Speaker 1: climate and energy strategist and founder of Energy five. Most 361 00:21:10,800 --> 00:21:13,800 Speaker 1: recently under President Trump, she served in the e p 362 00:21:14,000 --> 00:21:18,560 Speaker 1: A as the Principal Deputy Assistant Administrator Administrator for the 363 00:21:18,640 --> 00:21:22,359 Speaker 1: Office of Air and Radiation. Nandy, thank you for joining us. 364 00:21:22,400 --> 00:21:24,680 Speaker 1: How are you? I'm great? Thanks for having me on 365 00:21:24,760 --> 00:21:30,280 Speaker 1: your shoe. All right, So your takeaways from the Democratic 366 00:21:30,359 --> 00:21:33,720 Speaker 1: town hall with regards to climate change? What did you 367 00:21:33,720 --> 00:21:36,960 Speaker 1: make of it? The biggest takeaway is that the Democrats 368 00:21:37,000 --> 00:21:41,119 Speaker 1: are proposing trillion dollar plans that are um you know, 369 00:21:41,280 --> 00:21:44,560 Speaker 1: their answer for everything is more government and more taxpayer money. 370 00:21:44,880 --> 00:21:48,720 Speaker 1: And there's trillion dollars will UM go to subsidizing cars 371 00:21:48,720 --> 00:21:53,679 Speaker 1: consumers don't want, subsidizing electricity consumers can't afford, and promising 372 00:21:53,720 --> 00:21:57,680 Speaker 1: green jobs that likely won't materialized based off of that promise. 373 00:21:57,760 --> 00:22:00,919 Speaker 1: That's been ongoing UM in California, and we've seen that 374 00:22:01,000 --> 00:22:05,080 Speaker 1: the reality of those jobs materializing hasn't quite matched the 375 00:22:05,160 --> 00:22:08,800 Speaker 1: rhetoric UM. So we saw different iterations. They were all 376 00:22:09,800 --> 00:22:13,439 Speaker 1: very varied endorsements of the Green New Deal UM, and 377 00:22:13,480 --> 00:22:15,239 Speaker 1: so I still don't really know what the Green New 378 00:22:15,280 --> 00:22:19,840 Speaker 1: Deal is. Well, the Green New Deal is UH. It's 379 00:22:19,840 --> 00:22:25,760 Speaker 1: a fourteen to fifteen page resolution that laid out broad, 380 00:22:25,840 --> 00:22:30,920 Speaker 1: sweeping goals that ranged from changing the entire electricity grid 381 00:22:31,080 --> 00:22:35,160 Speaker 1: from its existing to a mix which is around seventy 382 00:22:35,200 --> 00:22:40,719 Speaker 1: percent to total renewable energy. It includes the work programs goals. 383 00:22:41,040 --> 00:22:43,280 Speaker 1: It's these lofty goals and and and it's It was 384 00:22:43,440 --> 00:22:46,760 Speaker 1: remarkable as as a reporter to to watch it's unveiled 385 00:22:46,800 --> 00:22:48,959 Speaker 1: because the Democrats weren't on the same page for what 386 00:22:49,040 --> 00:22:53,399 Speaker 1: it is, and and Republicans had rightfully the opportunity to 387 00:22:53,480 --> 00:22:56,040 Speaker 1: define it on their own terms. Mandy Gunness a car 388 00:22:56,200 --> 00:22:58,199 Speaker 1: is joining us on the line. She's the former deputy 389 00:22:58,200 --> 00:23:04,040 Speaker 1: assistant administrator at the Vironmental Protection Agency under President Trump's administrations. 390 00:23:04,480 --> 00:23:09,399 Speaker 1: You know, I was watching the CNN debates or not debate, 391 00:23:09,440 --> 00:23:12,679 Speaker 1: the forum on on Energy. I was following all of 392 00:23:12,720 --> 00:23:16,159 Speaker 1: the social chatter and and what the strategists and the 393 00:23:16,240 --> 00:23:19,440 Speaker 1: pundits are saying, and I just kept thinking, if you're 394 00:23:19,600 --> 00:23:24,840 Speaker 1: a suburban independent voter and you're looking at this, and 395 00:23:24,880 --> 00:23:28,080 Speaker 1: you're saying, the Democrats are saying that Republicans don't believe 396 00:23:28,080 --> 00:23:30,119 Speaker 1: in climate change, that they don't believe that the that 397 00:23:30,200 --> 00:23:33,119 Speaker 1: the Earth is getting more warm, and that they're they 398 00:23:33,320 --> 00:23:37,119 Speaker 1: denied factual science. And the Republicans are saying, well, they 399 00:23:37,160 --> 00:23:39,960 Speaker 1: want to change how you eat a cheeseburger and a 400 00:23:40,000 --> 00:23:44,320 Speaker 1: paper straw. I mean, is there a happy media happy 401 00:23:44,440 --> 00:23:48,720 Speaker 1: medium anymore? Mandy, Well, there there is an happy medium. 402 00:23:48,720 --> 00:23:51,320 Speaker 1: It's not going to happen um on the CNN town 403 00:23:51,359 --> 00:23:54,280 Speaker 1: hall or any of the relative response because you're ready 404 00:23:54,320 --> 00:23:57,920 Speaker 1: to point out everyone was speaking in extreme terminology. Um. 405 00:23:58,040 --> 00:24:00,240 Speaker 1: The truth of the matter is that there is a 406 00:24:00,280 --> 00:24:04,760 Speaker 1: pragmatic conversation to be had, and that pragmatic conversation is 407 00:24:04,800 --> 00:24:09,040 Speaker 1: happening inside the Trump administration right now, where President Trump 408 00:24:09,040 --> 00:24:12,520 Speaker 1: has directed his environmental leadership. So I'm talking about UM 409 00:24:12,560 --> 00:24:16,159 Speaker 1: Administrator Wheeler, the Department of Energy, and the Department of 410 00:24:16,280 --> 00:24:21,920 Speaker 1: Interior to balance environmental protections alongside economic growth. And there's 411 00:24:21,960 --> 00:24:24,320 Speaker 1: been a number of actions that each of the agencies 412 00:24:24,359 --> 00:24:29,280 Speaker 1: have taken consistent with that. So when you so, so 413 00:24:29,320 --> 00:24:31,200 Speaker 1: when you look at this, when you look at this issue, 414 00:24:31,440 --> 00:24:36,200 Speaker 1: how do you think the independent voters in Michigan, Wisconsin, Pennsylvania, Ohio, Florida. 415 00:24:36,720 --> 00:24:38,760 Speaker 1: Do you do you think that Republicans are trying to 416 00:24:38,840 --> 00:24:42,199 Speaker 1: mobilize or that their at risk of mobilizing on the 417 00:24:42,280 --> 00:24:44,520 Speaker 1: issue of climate change or do you think that this 418 00:24:44,600 --> 00:24:48,600 Speaker 1: is really just a Democratic primary issue? Well, I think 419 00:24:48,600 --> 00:24:51,000 Speaker 1: it is an important issue that will continue to be 420 00:24:51,080 --> 00:24:54,119 Speaker 1: raised beyond just the Democrat primary. Um. I think in 421 00:24:54,119 --> 00:24:56,879 Speaker 1: the in the context of the Democrat candidates, it's going 422 00:24:56,920 --> 00:25:02,040 Speaker 1: to be extreme emotionally in huge right. Um. But President Trump, 423 00:25:02,119 --> 00:25:05,080 Speaker 1: he's already laid out his policy speech earlier a couple 424 00:25:05,080 --> 00:25:08,040 Speaker 1: of months ago. UM, what he's doing for the environment, 425 00:25:08,280 --> 00:25:11,679 Speaker 1: and Republicans will continue to come up with practical solutions 426 00:25:11,880 --> 00:25:15,040 Speaker 1: to address tangible issues, not just greenhouse gases, which we 427 00:25:15,080 --> 00:25:17,840 Speaker 1: already lead the world in terms of overall reductions, but 428 00:25:18,000 --> 00:25:21,240 Speaker 1: keeping the air clean, keeping our water clean, and cleaning 429 00:25:21,280 --> 00:25:23,679 Speaker 1: up once contaminated lands. All right, before I let you go, 430 00:25:23,720 --> 00:25:26,199 Speaker 1: you've been so generous with your time. Mandy Gunnasakar, a 431 00:25:26,240 --> 00:25:30,320 Speaker 1: former deputy Assistant administrator at the Environmental Protection Agency, I 432 00:25:30,359 --> 00:25:31,760 Speaker 1: do want to get you away. In on a big 433 00:25:31,800 --> 00:25:36,720 Speaker 1: Bloomberg story headline and Axios. Axios headline reads, Feds aim 434 00:25:36,800 --> 00:25:41,560 Speaker 1: to block California's emissions and run. President Trump is pulling 435 00:25:41,600 --> 00:25:43,639 Speaker 1: out all the stops to shut down an effort by 436 00:25:43,640 --> 00:25:47,760 Speaker 1: California to enlist automakers on a plan that would undermine 437 00:25:47,760 --> 00:25:52,640 Speaker 1: his administration's effort to roll back strict Obama era carbon 438 00:25:52,800 --> 00:25:58,200 Speaker 1: emissions and mileage mandates. Translate this for US Mandy from 439 00:25:58,359 --> 00:26:03,160 Speaker 1: from the Republican perspective about what this means for for 440 00:26:03,160 --> 00:26:09,399 Speaker 1: for the average Californian California driver, Well, um, what it 441 00:26:09,440 --> 00:26:12,400 Speaker 1: really means, what what the what the federal government was 442 00:26:12,400 --> 00:26:16,840 Speaker 1: was calling California out for was they've overstepped the bounds, 443 00:26:16,960 --> 00:26:20,359 Speaker 1: overstepped the bounds of legal authority, and they're trying to 444 00:26:20,440 --> 00:26:23,000 Speaker 1: instill in a place that is explicitly reserved for the 445 00:26:23,040 --> 00:26:26,400 Speaker 1: federal government. And what that is is setting one national 446 00:26:26,480 --> 00:26:31,880 Speaker 1: standard for our fuel efficiency standards for light duty vehicles. So, UM, 447 00:26:31,920 --> 00:26:34,199 Speaker 1: you've heard a lot of rhetoric from California in the 448 00:26:34,280 --> 00:26:36,880 Speaker 1: last couple of weeks where they're trying to make these 449 00:26:36,920 --> 00:26:39,440 Speaker 1: deals with the auto companies. The thing is, the way 450 00:26:39,480 --> 00:26:42,679 Speaker 1: that they've been going about doing that is in a 451 00:26:42,720 --> 00:26:44,960 Speaker 1: way that only the federal government can do. So E 452 00:26:45,119 --> 00:26:48,120 Speaker 1: p A issued a letter today. It was a strongly 453 00:26:48,119 --> 00:26:53,120 Speaker 1: worded rebuke of California's actions, UM, telling them, when you've overstepped, 454 00:26:53,200 --> 00:26:56,520 Speaker 1: here's the authority, UM that that we believe you've overstepped 455 00:26:56,560 --> 00:26:59,320 Speaker 1: under the Cleaner Act and ETCA, which is the source 456 00:26:59,359 --> 00:27:02,119 Speaker 1: of Department at Explications authority, and we urge you to 457 00:27:02,320 --> 00:27:07,199 Speaker 1: disassociate yourself with these illegal agreements. So they put California 458 00:27:07,240 --> 00:27:10,160 Speaker 1: on notice, UM. And what the federal government is doing 459 00:27:10,160 --> 00:27:13,440 Speaker 1: in the meantime is still working through to finalize their 460 00:27:13,520 --> 00:27:16,960 Speaker 1: updated version of the Safe Vehicle Rule, which will ensure 461 00:27:17,080 --> 00:27:21,119 Speaker 1: that all Americans are driving more efficient, safer and affordable cars. 462 00:27:21,359 --> 00:27:24,800 Speaker 1: This is this is really this is confusing. If you're 463 00:27:24,840 --> 00:27:27,359 Speaker 1: if you've just had a long week at work and 464 00:27:27,400 --> 00:27:30,439 Speaker 1: you're you're like, it's Friday. But the bottom line is 465 00:27:31,280 --> 00:27:36,200 Speaker 1: the Feds had one emission standard for cars, and then 466 00:27:36,280 --> 00:27:40,440 Speaker 1: California and the auto industry they huddled together and they 467 00:27:40,440 --> 00:27:43,399 Speaker 1: came up with new standards. So it's it's actually a 468 00:27:43,560 --> 00:27:47,800 Speaker 1: federal versus state state issue. Ironically to some extent, federal 469 00:27:47,880 --> 00:27:51,959 Speaker 1: versus state issue here and President Trump saying no, no no, no, 470 00:27:52,080 --> 00:27:54,879 Speaker 1: no no, we get to set that standard, not not 471 00:27:55,000 --> 00:27:57,400 Speaker 1: a state, not California. But what's so there's a lot 472 00:27:57,400 --> 00:28:00,960 Speaker 1: of nuance to this, but it does impact ratter more 473 00:28:01,040 --> 00:28:06,160 Speaker 1: broadly speaking, the auto industry and emission standards. So, Mandy, 474 00:28:06,240 --> 00:28:07,960 Speaker 1: thank you so much for coming on. But you hope 475 00:28:08,000 --> 00:28:09,960 Speaker 1: you hope you'll you'll come back on and when you're 476 00:28:09,960 --> 00:28:13,400 Speaker 1: in Washington, please come by the studio. Mandy Gunnasakara, former 477 00:28:13,480 --> 00:28:18,640 Speaker 1: Deputy Assistant administrator at the Environmental Protection Agency, talking everything 478 00:28:18,760 --> 00:28:22,480 Speaker 1: Straws missions. We appreciate the time coming up. Panel reacts. 479 00:28:22,720 --> 00:28:27,080 Speaker 1: Wendy Benjaminson, Bloomberg News Politics editor, Miranda Green, Congressional reporter 480 00:28:27,200 --> 00:28:30,639 Speaker 1: at the Hill. I'm Kevin CURRELLI Chief Washington correspondent from 481 00:28:30,640 --> 00:28:34,160 Speaker 1: Bloomberg Television and Bloomberg Radio. You are listening to Bloomberg. 482 00:28:40,400 --> 00:28:44,959 Speaker 1: This is Bloomberg Sound On with Kevin Surly on Bloomberg 483 00:28:46,080 --> 00:28:50,680 Speaker 1: and one oh five point seven D two not Kevin Sireli, 484 00:28:50,880 --> 00:28:54,240 Speaker 1: Chief Washington correspondent, fro Bloomberg Television, Bloomberg Radio. It's Friday. 485 00:28:54,240 --> 00:28:57,920 Speaker 1: We made it to Friday. It's been an environmental and 486 00:28:58,080 --> 00:29:01,360 Speaker 1: environmentally driven show. But now it's time for what's become 487 00:29:01,400 --> 00:29:06,120 Speaker 1: my favorite favorite part of the program, What's on your Radar. 488 00:29:06,200 --> 00:29:08,760 Speaker 1: It's where we ask our panelists what is on their radar? 489 00:29:08,800 --> 00:29:10,360 Speaker 1: I don't know why I say it in that voice. 490 00:29:10,360 --> 00:29:14,080 Speaker 1: It's so weird. It's really embarrassing. I'm my mom was 491 00:29:14,120 --> 00:29:15,800 Speaker 1: in time. I lunch with her, Hey Adams today, and 492 00:29:15,840 --> 00:29:18,640 Speaker 1: She's like, you don't talk the same on radio that 493 00:29:18,720 --> 00:29:23,560 Speaker 1: you do it. Really it's weird though, because I'm myself. 494 00:29:23,600 --> 00:29:28,680 Speaker 1: Wendy Benjaminson's here Political Bloomberg Politics, Bloomberg News Politics editor 495 00:29:28,720 --> 00:29:31,680 Speaker 1: and Miranda Green, congressional reporter at the Hill. I think like, 496 00:29:31,760 --> 00:29:34,040 Speaker 1: this is this is how I talk, right, But then 497 00:29:34,080 --> 00:29:35,880 Speaker 1: I do these weird things like what's on your radar? 498 00:29:35,960 --> 00:29:38,760 Speaker 1: But do you talk like that outside of the radio? 499 00:29:38,960 --> 00:29:40,840 Speaker 1: When I like when I go to when I go 500 00:29:40,920 --> 00:29:42,880 Speaker 1: to a coffee shop, and I'm like, I don't have 501 00:29:42,920 --> 00:29:45,160 Speaker 1: a lot of day, Like no, I don't. I don't 502 00:29:46,120 --> 00:29:48,320 Speaker 1: all right, nothing about me. It's boring, Miranda. What's on 503 00:29:48,360 --> 00:29:51,840 Speaker 1: your radar? Well, Congress is back in session next board, 504 00:29:52,160 --> 00:29:54,520 Speaker 1: and so there's a lot of questions on what they're 505 00:29:54,560 --> 00:29:57,680 Speaker 1: going to be tackling. First. There is, of course a 506 00:29:57,760 --> 00:30:00,680 Speaker 1: looming spending bill, so there is a very short period 507 00:30:00,720 --> 00:30:03,040 Speaker 1: of time in terms of what they can tackle before 508 00:30:03,080 --> 00:30:06,360 Speaker 1: they have to look at this and avoid a government shutdown, 509 00:30:06,520 --> 00:30:10,280 Speaker 1: which the date is October one there, but it's it 510 00:30:10,320 --> 00:30:13,040 Speaker 1: shows that Democrats are really trying to push forward some 511 00:30:13,080 --> 00:30:16,520 Speaker 1: sort of gun control legislation coming off of the shootings 512 00:30:16,520 --> 00:30:19,960 Speaker 1: that happened this summer. Senator Chuck Schumer has said that 513 00:30:19,960 --> 00:30:22,560 Speaker 1: that is going to be his main push in the Senate. 514 00:30:23,240 --> 00:30:28,880 Speaker 1: Other members are also looking at UM other important legislation 515 00:30:29,000 --> 00:30:32,360 Speaker 1: having to do with healthcare UH protecting Americans with pre 516 00:30:32,360 --> 00:30:35,520 Speaker 1: Existing Conditions Act UM. There's an election security bill that 517 00:30:35,520 --> 00:30:37,959 Speaker 1: they're trying to push forward, which comes at the heels 518 00:30:38,040 --> 00:30:41,760 Speaker 1: of the Robert Mueller Reports UH, and other issues that 519 00:30:41,840 --> 00:30:43,920 Speaker 1: Democrats in the Senate are looking for. How to do 520 00:30:43,960 --> 00:30:46,400 Speaker 1: with Hong Kong and nuts and Hong Kong. I mean 521 00:30:46,400 --> 00:30:50,320 Speaker 1: that those protests are still continuing despite Carrie Lamb. Despite 522 00:30:50,360 --> 00:30:54,640 Speaker 1: removing that extradition buill, those protests continued again today. Hey, 523 00:30:54,880 --> 00:30:57,560 Speaker 1: President shi jing Ping, he's got his hands full. I 524 00:30:57,560 --> 00:30:59,560 Speaker 1: mean he's got his hands full, and and that is 525 00:31:00,280 --> 00:31:03,400 Speaker 1: Look the Chinese delegation coming here in October. He's got 526 00:31:03,400 --> 00:31:05,080 Speaker 1: to keep your house in order with that, with that 527 00:31:05,200 --> 00:31:08,400 Speaker 1: Hong Kong situation. Yes, in Congress is very much aware 528 00:31:08,440 --> 00:31:10,080 Speaker 1: of what's been going on at the White House, especially 529 00:31:10,160 --> 00:31:12,280 Speaker 1: since they have been on recess for about a month now. 530 00:31:12,320 --> 00:31:14,840 Speaker 1: So they are I'm sure ripping and roaring and ready 531 00:31:14,880 --> 00:31:17,560 Speaker 1: to start having their meetings. And uh, I will be 532 00:31:17,720 --> 00:31:20,040 Speaker 1: personally following three bills having to do with off short 533 00:31:20,120 --> 00:31:22,120 Speaker 1: drilling that are going to be pushed through in the House. 534 00:31:22,520 --> 00:31:25,440 Speaker 1: That is something that President Trump has been interested. Come 535 00:31:25,440 --> 00:31:28,240 Speaker 1: back and us come back and tell us Miranda Green, Uh, 536 00:31:28,280 --> 00:31:31,160 Speaker 1: Wendy Benjaminton, what's on your radar? What is on my radar? 537 00:31:31,320 --> 00:31:34,280 Speaker 1: It is the Democratic debate coming up Thursday night. I'll 538 00:31:34,280 --> 00:31:36,000 Speaker 1: be there, You'll be there, and we'll both be there. 539 00:31:36,000 --> 00:31:38,320 Speaker 1: It'll be lots of fun, good text mix down there. 540 00:31:39,040 --> 00:31:42,520 Speaker 1: But really it's the what happens after the debate. It 541 00:31:42,680 --> 00:31:46,560 Speaker 1: is does know does Biden show the kind of energy 542 00:31:46,600 --> 00:31:48,880 Speaker 1: that people seem to be looking for to maintain his 543 00:31:48,960 --> 00:31:52,600 Speaker 1: front runner status, Who attacks him? And really who drops out? 544 00:31:52,680 --> 00:31:56,000 Speaker 1: After that debate, only ten people qualified for the debate 545 00:31:56,040 --> 00:31:59,440 Speaker 1: of nineteen candidates still remaining. And I think this third 546 00:31:59,480 --> 00:32:03,040 Speaker 1: debate be where they separate the week from the chaff. Yeah, no, 547 00:32:03,160 --> 00:32:05,400 Speaker 1: I agree. I I feel like we've been talking about 548 00:32:05,440 --> 00:32:08,479 Speaker 1: this debate forever but there, but it's going to be 549 00:32:08,560 --> 00:32:12,520 Speaker 1: incredibly important. And the contrast between Senator Elizabeth Moren and 550 00:32:12,840 --> 00:32:17,600 Speaker 1: Bernie Sanders, and also Biden versus Elizabeth Moore and I mean, 551 00:32:17,600 --> 00:32:21,479 Speaker 1: it can't be understood there next to each Yeah, And 552 00:32:21,520 --> 00:32:23,479 Speaker 1: so you know, I mean it's I don't know, I'm 553 00:32:23,560 --> 00:32:26,360 Speaker 1: kind of I'm very excited for that, but I'm also 554 00:32:26,440 --> 00:32:30,320 Speaker 1: equally as excited for my Philadelphia Eagles to destroy the 555 00:32:30,360 --> 00:32:34,760 Speaker 1: Washington Redskins this Sunday and the first week of NFL football? 556 00:32:34,760 --> 00:32:36,440 Speaker 1: Are you that's not all my radar that I will 557 00:32:36,440 --> 00:32:38,560 Speaker 1: be watching? But you know what's all my radar? Did 558 00:32:38,560 --> 00:32:40,680 Speaker 1: you guys see this great story about my buddy Daniel 559 00:32:40,720 --> 00:32:45,240 Speaker 1: Littman in Politico with John Harris about cursing in the 560 00:32:46,400 --> 00:32:50,840 Speaker 1: UH and and and like the in the political candidate 561 00:32:51,000 --> 00:32:53,440 Speaker 1: runs I mean so better over work has been dropping 562 00:32:53,480 --> 00:32:57,960 Speaker 1: f bombs literally everywhere, and so I can't even read 563 00:32:58,000 --> 00:33:01,080 Speaker 1: this story on air because I love my job at Bloomberg. 564 00:33:03,560 --> 00:33:05,520 Speaker 1: I would love, but they were I just sweeted it 565 00:33:05,560 --> 00:33:08,040 Speaker 1: out Daniel Littman and John Harris. My friend Tammy had 566 00:33:08,280 --> 00:33:10,920 Speaker 1: was like, read this story. It's amazing, and it said 567 00:33:10,920 --> 00:33:14,440 Speaker 1: the surprise attack on Hawaii came on a quiet Sunday morning, 568 00:33:14,440 --> 00:33:16,560 Speaker 1: and it fell to the President of the United States 569 00:33:16,720 --> 00:33:20,520 Speaker 1: to rally a confused and stricken nation one day later 570 00:33:20,560 --> 00:33:23,640 Speaker 1: in a momentous address to Congress. And then they take 571 00:33:23,680 --> 00:33:29,000 Speaker 1: these very famous historical quotes like yesterday December seven, a 572 00:33:29,080 --> 00:33:32,240 Speaker 1: date which will live in infamy, and they replace it 573 00:33:32,320 --> 00:33:37,240 Speaker 1: with how how better would say it? And it's it's 574 00:33:37,280 --> 00:33:41,960 Speaker 1: so interesting because it really gives and delivers a fascinating 575 00:33:42,080 --> 00:33:46,920 Speaker 1: look at our political rhetoric in this climate. And yeah, 576 00:33:46,960 --> 00:33:49,880 Speaker 1: it's fascinating. It is fascinating. And the fact that, of 577 00:33:49,960 --> 00:33:53,520 Speaker 1: course presidential rhetoric has gotten more casual. I mean, no 578 00:33:53,520 --> 00:33:55,200 Speaker 1: one's going to stand up and say four score and 579 00:33:55,240 --> 00:33:57,440 Speaker 1: seven years ago, because they'll think they're talking about a 580 00:33:57,440 --> 00:34:01,000 Speaker 1: football game. And Trump has certainly brought course or rhetoric 581 00:34:01,080 --> 00:34:03,640 Speaker 1: to the presidency but better. O'Rourke is taking it to 582 00:34:03,680 --> 00:34:07,560 Speaker 1: a level where he really doesn't sound like the leader 583 00:34:07,600 --> 00:34:09,360 Speaker 1: of the free world, like someone who could be the 584 00:34:09,440 --> 00:34:11,760 Speaker 1: leader of the free world. And I know he's trying 585 00:34:11,800 --> 00:34:14,520 Speaker 1: this sort of new campaign. He may get, you know, 586 00:34:14,600 --> 00:34:17,160 Speaker 1: younger voters to entertain them, but I think in the 587 00:34:17,360 --> 00:34:18,799 Speaker 1: at the end of the day, you kind of want 588 00:34:18,840 --> 00:34:21,360 Speaker 1: someone who can get a sentence out with upgrowing right. 589 00:34:21,480 --> 00:34:23,440 Speaker 1: I mean, to me, it just feels, it just feels. 590 00:34:23,960 --> 00:34:25,680 Speaker 1: I don't know, it doesn't matter what I think, but 591 00:34:25,719 --> 00:34:28,040 Speaker 1: the story is great, it goes into everything. I'm just 592 00:34:28,120 --> 00:34:30,040 Speaker 1: a reporter, but that is definitely all my radar. I 593 00:34:30,040 --> 00:34:32,440 Speaker 1: don't you know what, never mind, my opinion doesn't matter. 594 00:34:32,520 --> 00:34:35,319 Speaker 1: I'm just a reporter. Thank you, Wendy Benjaminson, Thank you, 595 00:34:35,360 --> 00:34:37,560 Speaker 1: Miranda Green. Thank you to our audience. I'll see you 596 00:34:37,600 --> 00:34:40,000 Speaker 1: next week. Congress is back. I'm Kevin Cirelli, Chief Washington 597 00:34:40,040 --> 00:34:42,400 Speaker 1: correspondent from Boomberg TV and Radio. Have a great weekend, 598 00:34:42,480 --> 00:34:43,000 Speaker 1: Bloomberg