1 00:00:00,520 --> 00:00:03,320 Speaker 1: Live from our nations. This budget thing is going to 2 00:00:03,400 --> 00:00:06,120 Speaker 1: do nothing space forts. I still think it's interesting President 3 00:00:06,160 --> 00:00:09,840 Speaker 1: Trump not playing his cards yet headlines Policy and politics, 4 00:00:09,880 --> 00:00:14,640 Speaker 1: colliding to sound on with Kevin's related the insiders, the influencers, 5 00:00:14,760 --> 00:00:17,600 Speaker 1: the inside. I would rather see a congressional solution. It's 6 00:00:17,600 --> 00:00:20,560 Speaker 1: part of my DNA. The Senate map in looks a 7 00:00:20,560 --> 00:00:22,880 Speaker 1: lot different than it looked in. You really have a 8 00:00:22,920 --> 00:00:26,200 Speaker 1: divide within Team Trump. The President has to do exactly 9 00:00:26,239 --> 00:00:28,000 Speaker 1: what people seven here to do, which is to get 10 00:00:28,040 --> 00:00:31,800 Speaker 1: it done. He's sound on with Kevin's He related on 11 00:00:31,920 --> 00:00:37,360 Speaker 1: Bloomberg one and seven, m h D two Boltimore t 12 00:00:37,800 --> 00:00:42,920 Speaker 1: g I f US stocks roar as jobs data bolsters 13 00:00:43,000 --> 00:00:47,080 Speaker 1: confidence we have the latest on the US economic front. 14 00:00:47,159 --> 00:00:49,680 Speaker 1: I was at the Department of Labor earlier this morning 15 00:00:49,760 --> 00:00:55,240 Speaker 1: where the jobs numbers smashed estimates telephone rings, President Trump 16 00:00:55,280 --> 00:01:00,200 Speaker 1: speaks with Vladimir Putin about the Mueller Report. What else 17 00:01:00,200 --> 00:01:02,600 Speaker 1: did they talk about and what does White House Press 18 00:01:02,600 --> 00:01:06,839 Speaker 1: Secretary Sarah Sanders have to say about it? Meanwhile, back 19 00:01:06,880 --> 00:01:11,240 Speaker 1: on Capitol Hill, House Judiciary Committee Chairman Jerry Nadler is 20 00:01:11,280 --> 00:01:15,039 Speaker 1: making a new request to Attorney General William Barr, but 21 00:01:15,160 --> 00:01:18,240 Speaker 1: does he even care or is this all just a 22 00:01:18,240 --> 00:01:22,680 Speaker 1: political game of chicken? When you get the latest from 23 00:01:22,720 --> 00:01:25,280 Speaker 1: all of that with an all star panel, two friends 24 00:01:25,280 --> 00:01:28,119 Speaker 1: of the program, So guide us through this, Maddie Doubler. 25 00:01:28,200 --> 00:01:32,119 Speaker 1: She's a senior fellow at the National Taxpayers Union as 26 00:01:32,120 --> 00:01:36,039 Speaker 1: well as a former Coalitions director for the House Republican Conference. 27 00:01:36,319 --> 00:01:41,520 Speaker 1: Perfect guest to have on Job's Day. And Luis Skiavone, Skivone, Skivoni, 28 00:01:42,080 --> 00:01:44,959 Speaker 1: Luis Skiavoni, I said it wrong on purpose. She's a 29 00:01:44,959 --> 00:01:46,800 Speaker 1: good friend of mine. She's a journalist and a senior 30 00:01:46,920 --> 00:01:52,560 Speaker 1: lecturer at Johns Hopkins University's Carry School of Business. Breaking news, 31 00:01:52,600 --> 00:01:55,920 Speaker 1: this headline just crossing the Bloomberg terminal, and I think 32 00:01:55,920 --> 00:01:58,600 Speaker 1: I'm gonna break into both of you as well. CBS 33 00:01:58,680 --> 00:02:02,559 Speaker 1: News is report warding that President Trump's former Chief of Staff, 34 00:02:02,680 --> 00:02:06,360 Speaker 1: General John Kelly has joined the board of a company 35 00:02:06,440 --> 00:02:11,480 Speaker 1: that operates shelters for migrant children. Reading now from CBS 36 00:02:11,600 --> 00:02:17,119 Speaker 1: News that right now? Uh reading now from the Hill 37 00:02:17,160 --> 00:02:20,640 Speaker 1: newspaper rather that is reporting off of the CBS News 38 00:02:20,680 --> 00:02:24,880 Speaker 1: report that he has joined the board of calibern International, 39 00:02:25,320 --> 00:02:29,960 Speaker 1: the parent company of Comprehensive Health Services, which operates the 40 00:02:30,000 --> 00:02:34,320 Speaker 1: Homestead shelter in Florida and three other shelters for unaccompanied 41 00:02:34,440 --> 00:02:39,360 Speaker 1: migrant children in Texas. This homestead is the largest shelter 42 00:02:39,919 --> 00:02:45,240 Speaker 1: for migrant children in the country. According to a statement 43 00:02:45,280 --> 00:02:50,120 Speaker 1: first reported by CBS News, calibern CEO James ven Douson 44 00:02:50,639 --> 00:02:53,800 Speaker 1: said in a statement, quote, with four decades of military 45 00:02:53,880 --> 00:02:58,720 Speaker 1: and humanitarian leadership, in depth understanding of international affairs, and 46 00:02:58,800 --> 00:03:03,040 Speaker 1: knowledge of current economic drivers around the world, General Kelly 47 00:03:03,080 --> 00:03:09,840 Speaker 1: is a strong strategic addition to our team. Okay, Louise Skivony, 48 00:03:09,919 --> 00:03:14,480 Speaker 1: who teaches crisis communications at the John Hopkins University Kerry 49 00:03:14,560 --> 00:03:17,320 Speaker 1: School of Business, I didn't see this one coming. Well 50 00:03:17,320 --> 00:03:20,120 Speaker 1: what about this? I mean, it seems to me that 51 00:03:20,160 --> 00:03:23,200 Speaker 1: there is a really sort of an ethical challenge here, right, 52 00:03:23,680 --> 00:03:26,560 Speaker 1: I mean John Kelly joining the board of this company 53 00:03:26,600 --> 00:03:31,399 Speaker 1: that operates the largest shelter for unaccompanied migrant children, according 54 00:03:31,400 --> 00:03:34,720 Speaker 1: to CBS News. I mean one assumes they are They've 55 00:03:34,800 --> 00:03:38,120 Speaker 1: they've got government contracts, right, Uh. I mean, this is 56 00:03:38,160 --> 00:03:41,680 Speaker 1: not some great thing he's doing because he cares about 57 00:03:41,720 --> 00:03:46,360 Speaker 1: migrant children. This is like a money making strategic things 58 00:03:46,400 --> 00:03:50,400 Speaker 1: so that they can position themselves to continue to do 59 00:03:51,000 --> 00:03:54,800 Speaker 1: business with the government and they've they've reached in to 60 00:03:54,800 --> 00:03:57,840 Speaker 1: to to the former chief of staff of the President 61 00:03:57,880 --> 00:04:01,880 Speaker 1: of the United States and especi actually considering the identity 62 00:04:01,960 --> 00:04:05,080 Speaker 1: of the President of the United States with this issue. 63 00:04:05,920 --> 00:04:11,360 Speaker 1: It's you. You. I won't say this, but one could 64 00:04:11,440 --> 00:04:16,480 Speaker 1: say this is disturbing. I think that reintroduce you. Matti Uppler, 65 00:04:16,520 --> 00:04:20,680 Speaker 1: senior fellow at the National Taxpayers Union, former Coalitions director 66 00:04:20,760 --> 00:04:24,400 Speaker 1: for the House Republican Conference. Thanks for that, Kevin. I think, though, 67 00:04:25,320 --> 00:04:27,039 Speaker 1: taking a step back, this is the first John Kelly 68 00:04:27,120 --> 00:04:30,200 Speaker 1: news that we've really heard about what he's doing post 69 00:04:30,640 --> 00:04:34,680 Speaker 1: White House. Correct. So also, I think keeping in mind 70 00:04:34,720 --> 00:04:37,479 Speaker 1: the full scope of the federal government, it's almost impossible 71 00:04:37,560 --> 00:04:40,200 Speaker 1: for officials like a John Kelly to go somewhere where 72 00:04:40,200 --> 00:04:42,160 Speaker 1: they're not sitting on a board if they're getting involved 73 00:04:42,160 --> 00:04:45,080 Speaker 1: in corporate life post public life that has federal contracts, 74 00:04:45,120 --> 00:04:49,240 Speaker 1: I mean, that's generally where the next public service such 75 00:04:49,279 --> 00:04:55,800 Speaker 1: as himself goes um. Obviously, the the debate on detention 76 00:04:55,839 --> 00:04:57,800 Speaker 1: and what's happening at the border has been a hallmark 77 00:04:57,800 --> 00:04:59,960 Speaker 1: of administration. So it's a little bit different than sitting 78 00:05:00,040 --> 00:05:03,800 Speaker 1: on a bigger company that traditionally, you know, maybe like 79 00:05:03,800 --> 00:05:07,160 Speaker 1: a military defense company that kind of thing. Um. But 80 00:05:07,240 --> 00:05:10,200 Speaker 1: you know, let's see kind of what else John Kelly 81 00:05:10,240 --> 00:05:12,000 Speaker 1: is gonna do. I I presume this won't be the 82 00:05:12,040 --> 00:05:14,680 Speaker 1: only thing he's doing post White House life. Breaking news 83 00:05:14,680 --> 00:05:18,799 Speaker 1: tonight CBS News with the bombshell exclusive President Trump's former 84 00:05:18,920 --> 00:05:22,440 Speaker 1: Chief of Staff General John Kelly joining the board of 85 00:05:22,480 --> 00:05:28,159 Speaker 1: a company that operates shelters for migrant children. CALIBERN is 86 00:05:28,160 --> 00:05:30,919 Speaker 1: the name of the company. CALIBERN is the name of 87 00:05:30,960 --> 00:05:33,680 Speaker 1: the company. They have added former Chief of Staff General 88 00:05:33,760 --> 00:05:39,120 Speaker 1: John Kelly to their board of directors. In this statement 89 00:05:39,160 --> 00:05:43,920 Speaker 1: from CALIBERN CEO Jams Van Duson, he goes on to say, quote, 90 00:05:44,080 --> 00:05:48,000 Speaker 1: our board remains acutely focused on advising on the safety 91 00:05:48,040 --> 00:05:51,560 Speaker 1: and welfare of unaccompanied miners who have been entrusted to 92 00:05:51,600 --> 00:05:53,800 Speaker 1: our care and custody by the Department of Health and 93 00:05:53,880 --> 00:05:57,440 Speaker 1: Human Services to address a very urgent need in caring 94 00:05:57,480 --> 00:06:02,839 Speaker 1: for and helping to find appropriate sponsors for these unaccompanied miners. 95 00:06:02,880 --> 00:06:05,520 Speaker 1: You know, as as I'm recalling this, or as this 96 00:06:05,600 --> 00:06:08,159 Speaker 1: news is breaking, I'm recalling that it was back in 97 00:06:08,240 --> 00:06:12,920 Speaker 1: April when there were all of these protesters outside of Homestead, Florida, 98 00:06:13,240 --> 00:06:16,320 Speaker 1: of this of this uh of of one of the facilities. 99 00:06:16,320 --> 00:06:20,920 Speaker 1: This is the largest facility in America that has unaccompanied 100 00:06:20,920 --> 00:06:24,120 Speaker 1: migrant children in it. And there were these these protests, 101 00:06:24,160 --> 00:06:26,120 Speaker 1: and and they popped up on the news, and a 102 00:06:26,200 --> 00:06:31,320 Speaker 1: local television affiliate actually captured former White House Chief of 103 00:06:31,320 --> 00:06:37,360 Speaker 1: Staff General John Kelly going into this facility. He was 104 00:06:37,480 --> 00:06:39,960 Speaker 1: riding the back of a golf court, go golf court 105 00:06:40,080 --> 00:06:43,320 Speaker 1: and going on tour. And now we learn, I guess, 106 00:06:43,320 --> 00:06:46,480 Speaker 1: like a month plus a couple of weeks later, that 107 00:06:47,520 --> 00:06:50,400 Speaker 1: it's because he's he's signed on to Caliber. I mean, look, 108 00:06:50,720 --> 00:06:52,680 Speaker 1: people are gonna have opinions of this, but here are 109 00:06:52,680 --> 00:06:56,200 Speaker 1: the facts. He's the president's former chief of staff, He's 110 00:06:56,240 --> 00:06:59,599 Speaker 1: got decades long of military experience. This is, as Maddie 111 00:06:59,640 --> 00:07:02,640 Speaker 1: Doubler correctly pointed out, really the first time that he's 112 00:07:03,040 --> 00:07:07,000 Speaker 1: resurfaced in the news. But to do so in this way, 113 00:07:07,279 --> 00:07:10,200 Speaker 1: I don't know the optics, Kevin, I I just really 114 00:07:10,680 --> 00:07:14,480 Speaker 1: have serious, serious questions. I'm looking at this CBS News 115 00:07:14,560 --> 00:07:17,320 Speaker 1: Stories is located on several lakers of federal land adjacent 116 00:07:17,360 --> 00:07:21,400 Speaker 1: to an air reserve base. The facilities is the nation's 117 00:07:21,520 --> 00:07:25,640 Speaker 1: only site not subject to routine inspections by state child 118 00:07:25,680 --> 00:07:30,080 Speaker 1: Welfare experts, teens sleep in bunk bed line dorm rooms, 119 00:07:30,160 --> 00:07:32,679 Speaker 1: ranging in size from small rooms if fit twelve young children, 120 00:07:32,720 --> 00:07:34,960 Speaker 1: to enormous hall shared by as many as two hundred 121 00:07:35,000 --> 00:07:39,400 Speaker 1: seventeen year old boys, etcetera, etcetera. I don't know. I 122 00:07:39,440 --> 00:07:42,400 Speaker 1: think if I were John Kelly, and I would like 123 00:07:42,440 --> 00:07:44,880 Speaker 1: to know what the what the what the price tag 124 00:07:44,960 --> 00:07:47,680 Speaker 1: is on his joining this board, because, like you know, 125 00:07:47,760 --> 00:07:53,520 Speaker 1: he is he is uniquely positioned to help this particular organization. 126 00:07:53,560 --> 00:07:56,400 Speaker 1: But just because he is, and just because this is 127 00:07:56,400 --> 00:07:58,520 Speaker 1: the first thing we're hearing about him doing, doesn't mean 128 00:07:58,560 --> 00:08:00,800 Speaker 1: that it's necessarily a great idea for him to be 129 00:08:00,840 --> 00:08:02,600 Speaker 1: doing it. We'll find out he might, he might be 130 00:08:02,640 --> 00:08:06,800 Speaker 1: able to add transparency, transparency, or maybe even be able 131 00:08:06,840 --> 00:08:10,080 Speaker 1: to be a better advocate, perhaps for those children coming up. 132 00:08:10,240 --> 00:08:12,720 Speaker 1: We're gonna have much more on this breaking news CBS 133 00:08:12,800 --> 00:08:16,600 Speaker 1: with the bombshell President Trump's former chief of staff John 134 00:08:16,680 --> 00:08:19,400 Speaker 1: Kelly joining the board of a company that operates shelters 135 00:08:19,440 --> 00:08:23,400 Speaker 1: for migrant children. That story breaking as we speak. Job's 136 00:08:23,440 --> 00:08:26,800 Speaker 1: day two hundred and sixty three thousand jobs added to 137 00:08:26,840 --> 00:08:29,520 Speaker 1: the US economy. I want to know Maddie Doubler's take 138 00:08:29,720 --> 00:08:33,560 Speaker 1: on that that's all coming up. You can download the 139 00:08:33,679 --> 00:08:36,880 Speaker 1: sound On podcast on Apple iTunes, at Bloomberg dot com, 140 00:08:37,000 --> 00:08:39,880 Speaker 1: or by downloading the Bloomberg Business app. You can also 141 00:08:39,920 --> 00:08:42,720 Speaker 1: find us on Radio dot com, I Heart Radio, and Spotify. 142 00:08:42,760 --> 00:08:45,840 Speaker 1: I'm Kevin Crelli. Thanks for spending Friday at five with me. 143 00:08:45,920 --> 00:08:52,760 Speaker 1: You're listening to Bloomberg. This is Sound On with Kevin's 144 00:08:52,920 --> 00:08:56,920 Speaker 1: Relation on Bloomberg one and one oh five point seven 145 00:08:57,160 --> 00:09:02,240 Speaker 1: m h D two, Baltimore. I'm Kevin Curreli, Chief Washington 146 00:09:02,280 --> 00:09:07,000 Speaker 1: correspondent from Bloomberg Television and Bloomberg Radio. Breaking news tonight, 147 00:09:07,080 --> 00:09:11,040 Speaker 1: fresh off of a CBS News exclusive, former President Trump 148 00:09:11,120 --> 00:09:14,120 Speaker 1: Chief of Staff General John Kelly joining the board of 149 00:09:14,160 --> 00:09:19,319 Speaker 1: a company that operates shelters for migrant children. CALIBERN is 150 00:09:19,360 --> 00:09:22,240 Speaker 1: the name of the company. CALIBERN is the name of 151 00:09:22,280 --> 00:09:24,880 Speaker 1: the company, and I have a feeling that we're gonna 152 00:09:24,880 --> 00:09:28,120 Speaker 1: be talking much more about that. Luis Giavoni is a 153 00:09:28,200 --> 00:09:33,359 Speaker 1: veteran Washington d c. Journalist. She now lectures crisis communications 154 00:09:33,360 --> 00:09:38,000 Speaker 1: at Johns Hopkins University's Kerry Business School. Mattie Duppler is 155 00:09:38,040 --> 00:09:41,360 Speaker 1: senior Fellow at the National Taxpayers Union and former Coalitions 156 00:09:41,400 --> 00:09:44,400 Speaker 1: director for the House Republican Conference, Maddie, It's been such 157 00:09:44,400 --> 00:09:47,079 Speaker 1: a busy economic week, but I do want to get 158 00:09:47,120 --> 00:09:49,040 Speaker 1: your your follow up to what we were talking about 159 00:09:49,080 --> 00:09:53,480 Speaker 1: earlier about CALIBERN and President Trump's previous Chief of Staff, 160 00:09:53,559 --> 00:09:58,600 Speaker 1: General John Kelly, joining CALIBERN, which operates the UH, the 161 00:09:58,679 --> 00:10:04,720 Speaker 1: largest MiG detention facility for migrant children in the United States. Florida. 162 00:10:04,920 --> 00:10:07,040 Speaker 1: Louis have been saying that it's unsettling, and I am 163 00:10:07,040 --> 00:10:10,800 Speaker 1: in no way endorsing the enterprise itself of detention and 164 00:10:11,120 --> 00:10:14,559 Speaker 1: the unsettling circumstances at the border. But I do think 165 00:10:14,679 --> 00:10:17,160 Speaker 1: that the one thing that I think most of the 166 00:10:17,160 --> 00:10:19,079 Speaker 1: country agrees on is that what is happening at the 167 00:10:19,120 --> 00:10:23,200 Speaker 1: border is unsettling, and these detention centers and facilities are 168 00:10:23,240 --> 00:10:25,560 Speaker 1: probably not in the trectory to get any better. So 169 00:10:25,640 --> 00:10:27,920 Speaker 1: to have someone like General Kelly on the board, who 170 00:10:27,960 --> 00:10:30,040 Speaker 1: has expertise in this arena, who has been on the 171 00:10:30,040 --> 00:10:32,520 Speaker 1: ground floor the policy making that has resulted in this, 172 00:10:32,920 --> 00:10:37,160 Speaker 1: I think at least augur's optimism for potentially improvement in 173 00:10:37,640 --> 00:10:40,559 Speaker 1: at least this detention center. Um. But more to we'll 174 00:10:40,600 --> 00:10:42,839 Speaker 1: have to just see what happens with John Kelly there. Alright, 175 00:10:42,880 --> 00:10:46,320 Speaker 1: switching gears, switching gears. It was I mean this this story, 176 00:10:46,360 --> 00:10:48,800 Speaker 1: by the way, broke like less than twenty minutes ago. 177 00:10:48,880 --> 00:10:51,720 Speaker 1: So it's it's it's very much hot off the press 178 00:10:51,800 --> 00:10:54,200 Speaker 1: or the interwebs, as as we're going to say. But 179 00:10:54,760 --> 00:10:57,960 Speaker 1: I mean, this was a remarkable economic week, and in 180 00:10:58,040 --> 00:10:59,840 Speaker 1: fact today, I mean I started the day at the 181 00:11:00,000 --> 00:11:05,800 Speaker 1: Partment of Labor lucky you well, covering the April job. Yeah, 182 00:11:06,240 --> 00:11:08,640 Speaker 1: and it's it really is intense, especially if you're an 183 00:11:08,679 --> 00:11:13,000 Speaker 1: economic television correspondent, because you're put in a it's called 184 00:11:13,040 --> 00:11:15,480 Speaker 1: a lockdown, and you're put in a room the size 185 00:11:15,520 --> 00:11:19,440 Speaker 1: of a closet with with my two other respectable competitive 186 00:11:19,440 --> 00:11:23,480 Speaker 1: colleagues at the other financial networks, and it's like taking 187 00:11:23,480 --> 00:11:25,679 Speaker 1: the S A T. S. Because they give you this, 188 00:11:26,080 --> 00:11:29,199 Speaker 1: they give you this. Uh, You're like in the room 189 00:11:29,240 --> 00:11:31,120 Speaker 1: the size of the closet. They locked the door, no phones, 190 00:11:31,200 --> 00:11:34,680 Speaker 1: no devices, and you have like twenty five minutes to 191 00:11:34,720 --> 00:11:37,560 Speaker 1: go over the ECO data and then go out to 192 00:11:37,679 --> 00:11:40,440 Speaker 1: your live shot position and to break it. So enough 193 00:11:40,480 --> 00:11:43,040 Speaker 1: about behind the scenes, let's actually get to the news, 194 00:11:43,480 --> 00:11:46,720 Speaker 1: which is two hundred and sixty three thousand jobs added 195 00:11:46,760 --> 00:11:50,959 Speaker 1: to the US economy in April. That is smashing expectations. 196 00:11:50,960 --> 00:11:52,800 Speaker 1: I think most economist predicted that it would be like 197 00:11:52,840 --> 00:11:57,080 Speaker 1: a hundred ninety around there. Not I mean three point 198 00:11:57,160 --> 00:12:02,520 Speaker 1: six percent unemployment. That's the lowest unemployment since December of 199 00:12:02,679 --> 00:12:05,800 Speaker 1: nineteen sixty nine. And the number that really jumps out 200 00:12:05,840 --> 00:12:09,560 Speaker 1: to me is the unemployment for adult women, which is 201 00:12:09,640 --> 00:12:13,559 Speaker 1: three point one percent. Unemployment for adult women overall unemployment 202 00:12:13,559 --> 00:12:16,480 Speaker 1: is three point six percent for adult women three point 203 00:12:16,559 --> 00:12:20,240 Speaker 1: one percent. That is the lowest for that for that 204 00:12:20,360 --> 00:12:22,800 Speaker 1: demographic of adult women. Since when do you think if 205 00:12:22,800 --> 00:12:25,000 Speaker 1: you know, don't do you know, Matty knows, Luise, what 206 00:12:25,040 --> 00:12:27,679 Speaker 1: do you think? That's the lowest set of record. I 207 00:12:28,040 --> 00:12:33,439 Speaker 1: can't guess since nineteen fifty three. So this is a 208 00:12:33,559 --> 00:12:39,240 Speaker 1: very strong, strong jobs report and this has been a 209 00:12:39,320 --> 00:12:42,680 Speaker 1: strong slash interesting week for economic data in general. Last 210 00:12:42,679 --> 00:12:46,800 Speaker 1: week we got data off of Q one excuse me, 211 00:12:47,360 --> 00:12:49,360 Speaker 1: nineteen the first quarter, seeing that there was a three 212 00:12:49,360 --> 00:12:51,960 Speaker 1: point two percent growth rate there. That was well beyond 213 00:12:52,040 --> 00:12:55,200 Speaker 1: expectations most economist set that we'd be around the two 214 00:12:55,240 --> 00:12:59,280 Speaker 1: point one percent mark. So also this week, of course, 215 00:12:59,320 --> 00:13:03,520 Speaker 1: we had J. Pale, Chairman of the Federal Reserve, discussing 216 00:13:03,640 --> 00:13:06,000 Speaker 1: the f O m C and what they see moving 217 00:13:06,080 --> 00:13:09,320 Speaker 1: forward for the FED. But he had made some comments 218 00:13:09,360 --> 00:13:14,559 Speaker 1: about what he sees as underlying fundamental correct underlying fundamentals 219 00:13:14,559 --> 00:13:17,600 Speaker 1: in the economy. One of that, one of which was 220 00:13:18,240 --> 00:13:22,040 Speaker 1: confidence from consumers that comes from the number that you 221 00:13:22,040 --> 00:13:24,240 Speaker 1: didn't talk about in this report, which is the wage number. 222 00:13:24,480 --> 00:13:30,880 Speaker 1: In fact, television, go ahead, we can cover now, I'm 223 00:13:30,920 --> 00:13:33,520 Speaker 1: not coming after so coming. So this is one of 224 00:13:33,520 --> 00:13:36,000 Speaker 1: the more interesting stories I think of the economic expansion. 225 00:13:36,040 --> 00:13:39,280 Speaker 1: Three point increasing wages from last year at this time 226 00:13:39,600 --> 00:13:42,720 Speaker 1: as the ninth straight month of wage increases over three 227 00:13:42,720 --> 00:13:45,840 Speaker 1: per cent. That show and this this, this is why 228 00:13:45,840 --> 00:13:48,880 Speaker 1: it's interesting. For years in this economic expansion, and we 229 00:13:48,920 --> 00:13:52,240 Speaker 1: were wondering where the heck the wage growth was. We're 230 00:13:52,240 --> 00:13:54,320 Speaker 1: seeing all of this productivity, we were seeing all this 231 00:13:54,440 --> 00:13:57,040 Speaker 1: job creation, but none of the wage numbers would budge. 232 00:13:57,320 --> 00:14:00,920 Speaker 1: And now we're finally seeing that breakthrough. And the question 233 00:14:01,000 --> 00:14:02,640 Speaker 1: is what does that do to result what is the 234 00:14:02,679 --> 00:14:05,680 Speaker 1: resulting effect on the economy. The other question, of course, 235 00:14:05,679 --> 00:14:07,839 Speaker 1: too is that inflation isn't keeping up and why do 236 00:14:08,640 --> 00:14:11,160 Speaker 1: I find this fascinating because we were talking about that 237 00:14:11,200 --> 00:14:14,199 Speaker 1: actually in the lockdown, we were like this this issue 238 00:14:14,200 --> 00:14:18,040 Speaker 1: of inflation, because now only in FED world would they 239 00:14:18,080 --> 00:14:21,800 Speaker 1: do this. You get a strong economic data number, you 240 00:14:21,880 --> 00:14:27,000 Speaker 1: get strong wage growth, you get strong raising a jobs number, 241 00:14:27,000 --> 00:14:30,600 Speaker 1: and everyone's like, oh, oh, where is the inflation, But 242 00:14:30,600 --> 00:14:33,200 Speaker 1: there doesn't really seem to be any evidence as of 243 00:14:33,280 --> 00:14:38,800 Speaker 1: now of inflation inflation. And I would also point out 244 00:14:38,800 --> 00:14:41,680 Speaker 1: to that last year when we were starting to see 245 00:14:41,800 --> 00:14:44,080 Speaker 1: the breakthrough on wages and we were starting to see 246 00:14:44,080 --> 00:14:46,520 Speaker 1: a lot of these metrics really pick up. The kind 247 00:14:46,560 --> 00:14:50,280 Speaker 1: of grasping of pearls that that followed was always, oh, no, 248 00:14:50,400 --> 00:14:52,560 Speaker 1: that means the Fed's going to raise right now that 249 00:14:52,600 --> 00:14:54,600 Speaker 1: the FED is pausing, and we know that that's not 250 00:14:54,680 --> 00:14:57,440 Speaker 1: really a possibility in the near term. There's a little 251 00:14:57,480 --> 00:15:02,440 Speaker 1: bit this of this, uh exuberant that is curious about 252 00:15:02,440 --> 00:15:04,920 Speaker 1: the inflation question. Okay, well you call your call. You're 253 00:15:05,000 --> 00:15:08,440 Speaker 1: calling it curious exuberant. That is how I'm gonna call it. 254 00:15:08,520 --> 00:15:13,120 Speaker 1: The SMP five hundred, well, they just they they rose 255 00:15:13,240 --> 00:15:16,120 Speaker 1: the most in a month off of what did you 256 00:15:16,160 --> 00:15:21,080 Speaker 1: call exuberant? Curious? Here's how Here's how the SMP five 257 00:15:21,480 --> 00:15:25,200 Speaker 1: index translated your curious exuberance. It rose the most in 258 00:15:25,240 --> 00:15:28,520 Speaker 1: a month, as data showed the labor market can support 259 00:15:28,560 --> 00:15:33,920 Speaker 1: growth without sparking inflation, can support growth without sparking inflation. 260 00:15:33,960 --> 00:15:37,680 Speaker 1: You know, Stephen Moore is probably like, see that, folks. 261 00:15:37,840 --> 00:15:40,120 Speaker 1: We're gonna leave it there for now. Coming up, President 262 00:15:40,120 --> 00:15:45,800 Speaker 1: Trump chats with Russia President Vladimir Putin. What did they 263 00:15:45,840 --> 00:15:49,560 Speaker 1: talk about? Panel stays Luisky, Ivoni, Maddie Duppler. You can 264 00:15:49,600 --> 00:15:53,160 Speaker 1: download this sound on podcast on Apple e Jones app, 265 00:15:53,480 --> 00:15:57,320 Speaker 1: Apple iTunes, at Bloomberg dot com, or by downloading the 266 00:15:57,320 --> 00:15:59,320 Speaker 1: Bloomberg Business app. You can also check us out as 267 00:15:59,360 --> 00:16:02,280 Speaker 1: well as the colleagu on Radio dot com, I Heart Radio, 268 00:16:02,360 --> 00:16:05,080 Speaker 1: and Spotify. I'm Kevin CERELLI. We made it to Friday. 269 00:16:05,240 --> 00:16:13,280 Speaker 1: We made it to Friday. You're listening to Bloomberg. You're 270 00:16:13,320 --> 00:16:18,480 Speaker 1: listening to Sound On with Kevin's really on Bloomberg and 271 00:16:18,600 --> 00:16:24,360 Speaker 1: one oh se m h D two Boltomole. News never stops, Stokes, News, 272 00:16:24,400 --> 00:16:28,760 Speaker 1: never stops Wall Street, never sleeps, News never sleeps. We're 273 00:16:28,800 --> 00:16:32,320 Speaker 1: just getting this bombshell CBS News report that President Trump's 274 00:16:32,560 --> 00:16:35,920 Speaker 1: previous Chief of Staff, General John Kelly, remember him. He's 275 00:16:36,000 --> 00:16:39,080 Speaker 1: joined the board on a company that operates shelters for 276 00:16:39,200 --> 00:16:43,960 Speaker 1: migrant children and in fact the largest detention Facility in 277 00:16:44,080 --> 00:16:48,560 Speaker 1: America in Homestead, Florida is owned by this company. CALIBERN 278 00:16:48,640 --> 00:16:51,440 Speaker 1: is the name of the company. John Kelly now a 279 00:16:51,520 --> 00:16:56,760 Speaker 1: board member. This reporting coming from CBS News and it 280 00:16:57,000 --> 00:17:01,920 Speaker 1: is reverberating as we speak on this Friday early evening. Meanwhile, 281 00:17:02,720 --> 00:17:06,040 Speaker 1: the day began with positive ECO data the SMP five 282 00:17:06,119 --> 00:17:12,480 Speaker 1: hundred like it UH the jobs number smashing smashing, smashing expectations. 283 00:17:13,080 --> 00:17:16,719 Speaker 1: In terms of the April Jobs report, two hundred and 284 00:17:16,760 --> 00:17:19,480 Speaker 1: sixty three thousand jobs added to the U s economy 285 00:17:19,480 --> 00:17:22,480 Speaker 1: in April, three point six percent unemployment rate. That's the 286 00:17:22,480 --> 00:17:27,639 Speaker 1: lowest unemployment rate since December of nineteen sixty nine, the 287 00:17:27,760 --> 00:17:32,560 Speaker 1: lowest unemployment rate since December of nineteen sixty nine. And 288 00:17:32,640 --> 00:17:37,200 Speaker 1: among adult women it's at three point one percent unemployment rate, 289 00:17:37,200 --> 00:17:42,080 Speaker 1: which is the lowest for that demographic since nineteen fifty three. 290 00:17:42,160 --> 00:17:46,119 Speaker 1: I'm Kevin Sirilli, Bloomberg TV and Bloomberg Radio Chief Washington correspondent, 291 00:17:46,359 --> 00:17:48,560 Speaker 1: here to guide us through all of the politics and 292 00:17:48,600 --> 00:17:51,600 Speaker 1: policy of the day. Our two friends of the program. 293 00:17:51,600 --> 00:17:54,560 Speaker 1: Matti Doubler is a senior fellow at the National Taxpayers 294 00:17:54,640 --> 00:17:58,640 Speaker 1: Union and former Coalitions director for the House Republican conference 295 00:17:58,680 --> 00:18:01,399 Speaker 1: and Luis Skiavoni. She is a veteran Washington d C. 296 00:18:01,600 --> 00:18:05,920 Speaker 1: Journalists covering more than three decades of politics. She is 297 00:18:05,960 --> 00:18:11,359 Speaker 1: a senior lecturer at the John Hopkins University carry Business School, 298 00:18:11,359 --> 00:18:16,879 Speaker 1: where she teaches courses now on crisis communications. Luisa's also 299 00:18:17,000 --> 00:18:20,320 Speaker 1: and I would only know this as your friend, also 300 00:18:20,720 --> 00:18:23,560 Speaker 1: is a horseback rider. Yeah, are you gonna be watching 301 00:18:23,560 --> 00:18:26,639 Speaker 1: the Kentucky Derby? I love the Kentucky Derby. But you know, 302 00:18:26,760 --> 00:18:30,479 Speaker 1: there there is a challenge within the world of thoroughbred racing, 303 00:18:30,560 --> 00:18:33,480 Speaker 1: and that is the health of these these horses. And 304 00:18:33,560 --> 00:18:37,280 Speaker 1: there is sort of an animal welfare issue. You know, 305 00:18:37,440 --> 00:18:42,080 Speaker 1: at the Santa Anita there's been a string of deaths 306 00:18:42,240 --> 00:18:46,040 Speaker 1: of these beautiful Thoroughbred horses who you know, people say 307 00:18:46,560 --> 00:18:50,400 Speaker 1: I have been overbred. They drive them really hard. There 308 00:18:50,400 --> 00:18:52,960 Speaker 1: are questions about the health of these horses. You know, 309 00:18:53,000 --> 00:18:55,480 Speaker 1: it's not some straight thing. But I also want to 310 00:18:55,520 --> 00:18:59,880 Speaker 1: say that the world of horse racing and thoroughbred horses 311 00:19:00,040 --> 00:19:03,920 Speaker 1: and the horse world is the most wherever you ride 312 00:19:03,960 --> 00:19:06,840 Speaker 1: a horse, it is beautiful, all right, all right, Well, listen, 313 00:19:07,280 --> 00:19:10,400 Speaker 1: they say it's the most exciting two minutes in sports. 314 00:19:10,560 --> 00:19:13,560 Speaker 1: Tomorrow is the Kentucky Derby. Listen. I'm not gonna lie. 315 00:19:13,600 --> 00:19:17,000 Speaker 1: As an avid Philadelphia Eagle fan, I hate to say this, 316 00:19:17,080 --> 00:19:20,480 Speaker 1: but I think my Eagles have had two minutes of 317 00:19:21,119 --> 00:19:25,000 Speaker 1: sporting time that is more interesting than watching horses race. 318 00:19:25,080 --> 00:19:27,280 Speaker 1: But I did love the book See Biscuit as well 319 00:19:27,320 --> 00:19:29,680 Speaker 1: as the movie. Be sure to tune into Bloomberg this 320 00:19:29,720 --> 00:19:32,960 Speaker 1: weekend for live coverage of the one running of the 321 00:19:33,000 --> 00:19:36,879 Speaker 1: Kentucky Derby tomorrow at five pm. Right here on Bloomberg 322 00:19:38,160 --> 00:19:41,640 Speaker 1: should be doing, we should be having, you know, well, 323 00:19:41,680 --> 00:19:44,600 Speaker 1: I know we're moving on alright, President Trump. I did 324 00:19:44,640 --> 00:19:48,800 Speaker 1: the horse thing, alright. I don't know who to bet on. Um, 325 00:19:48,960 --> 00:19:52,720 Speaker 1: I don't even bet okay, President Trump. President Trump got 326 00:19:52,720 --> 00:19:55,880 Speaker 1: a call today, or he called they talked with Russia 327 00:19:55,920 --> 00:19:59,480 Speaker 1: President Vladimir Boutin. Did you guys see this? I mean 328 00:20:00,000 --> 00:20:03,840 Speaker 1: they talked on the phone, and uh, the White House 329 00:20:04,359 --> 00:20:08,359 Speaker 1: is saying that President Trump discussed, of all the things 330 00:20:08,359 --> 00:20:12,480 Speaker 1: to talk about, discussed Special Counsel Robert Mueller's report, and 331 00:20:12,640 --> 00:20:14,960 Speaker 1: that Putin and Trump discussed this in a more than 332 00:20:15,080 --> 00:20:18,840 Speaker 1: hour long phone conversation on Friday. This according to White 333 00:20:18,840 --> 00:20:21,280 Speaker 1: House Press Secretary Sarah Huckaby Sanders, who had a briefing. 334 00:20:21,560 --> 00:20:23,680 Speaker 1: Let's play a little bit of that briefing from White 335 00:20:23,680 --> 00:20:28,640 Speaker 1: House Press Secretary Sarah Huckabee Sanders on questions regarding President 336 00:20:28,680 --> 00:20:32,399 Speaker 1: Trump's telephone call with Russia President Vladier Vladimir Putin. Here, 337 00:20:32,400 --> 00:20:36,440 Speaker 1: she is, I think he saw how ridiculous and silly 338 00:20:36,520 --> 00:20:41,000 Speaker 1: that he and his delegation looked yesterday. Um, this has 339 00:20:41,119 --> 00:20:46,800 Speaker 1: been an outrageous two years of accusations against the president. 340 00:20:48,080 --> 00:20:51,399 Speaker 1: That's White House Press Secretary Sarah Sander. She goes on 341 00:20:51,480 --> 00:20:54,640 Speaker 1: to say that the that the two leaders quote unquote 342 00:20:54,760 --> 00:20:59,040 Speaker 1: very very briefly discussed the Mueller Report, which detailed a 343 00:20:59,119 --> 00:21:04,679 Speaker 1: Kremlin direct scheme to interfere in the election. They also 344 00:21:04,840 --> 00:21:12,760 Speaker 1: talked about a host of other different issues, including trade policy, Venezuela, Ukraine, 345 00:21:12,840 --> 00:21:16,640 Speaker 1: North Korea, the nuclear arms control, and even the quote 346 00:21:16,720 --> 00:21:20,680 Speaker 1: unquote Russian hoax that is from a tweet, a pair 347 00:21:20,720 --> 00:21:27,199 Speaker 1: of tweets that President Trump discussed earlier. Uh. And I 348 00:21:27,240 --> 00:21:29,480 Speaker 1: do want to say that the that the SoundBite we 349 00:21:29,560 --> 00:21:32,359 Speaker 1: just heard from White House Press Secretary Sarah Sanders referred 350 00:21:32,400 --> 00:21:36,760 Speaker 1: to Jerry Nadler. So, okay, Maddie, why were Trump and 351 00:21:36,800 --> 00:21:41,600 Speaker 1: Putin talking about? Right? I want to know before I 352 00:21:41,600 --> 00:21:44,120 Speaker 1: return to that question, what was that about Venezuela. That 353 00:21:44,280 --> 00:21:48,280 Speaker 1: to me is a much more pertinent conversation about current events, 354 00:21:48,359 --> 00:21:50,280 Speaker 1: given the dynamics that we know on the ground there. 355 00:21:51,000 --> 00:21:53,040 Speaker 1: But here's why, let's just catch everyone up to speed. 356 00:21:53,080 --> 00:21:56,359 Speaker 1: The situation with Ponuido, which ever the international community is 357 00:21:56,400 --> 00:21:59,920 Speaker 1: recognizing the will of the Venezuelan people as the act 358 00:22:00,320 --> 00:22:03,800 Speaker 1: leader of Venezuela. Uh. And the situation with this dictator 359 00:22:03,880 --> 00:22:08,159 Speaker 1: Medoro who's clinging to powder Maduro has the support of 360 00:22:08,440 --> 00:22:14,080 Speaker 1: Russia President Vladimir Putin, correct, and uh, listen, I can't 361 00:22:14,160 --> 00:22:18,879 Speaker 1: decipher what the president is thinking with his relationship with 362 00:22:18,960 --> 00:22:23,400 Speaker 1: Vladimir Putin. To me, particularly in light of the Mula report, 363 00:22:23,880 --> 00:22:26,520 Speaker 1: this could have been an opportunity for him to shift 364 00:22:26,600 --> 00:22:30,520 Speaker 1: the blame and make Democrats start talking about the difficulties 365 00:22:30,560 --> 00:22:32,960 Speaker 1: with Russia and the report rather than just focusing on 366 00:22:33,000 --> 00:22:36,920 Speaker 1: Trump himself. I think this would have been an opportunity 367 00:22:37,000 --> 00:22:40,720 Speaker 1: for the president to go with the core finding of 368 00:22:40,760 --> 00:22:44,359 Speaker 1: this investigation that said that the Russian government interfered in 369 00:22:44,400 --> 00:22:48,840 Speaker 1: the two thousand sixteen presidential election in sweeping, in systematic fashion. 370 00:22:49,160 --> 00:22:51,280 Speaker 1: That is not a bad thing for the president of 371 00:22:51,280 --> 00:22:53,520 Speaker 1: the United States to punch up and say, look at 372 00:22:53,880 --> 00:22:56,280 Speaker 1: we are the United States of America. We're not going 373 00:22:56,320 --> 00:22:58,879 Speaker 1: to take that exactly. And for him to do that 374 00:22:58,920 --> 00:23:01,480 Speaker 1: in a way that was una equivocal, it would then 375 00:23:01,640 --> 00:23:04,360 Speaker 1: force the Democrats who are saying this smaller reports about 376 00:23:04,400 --> 00:23:07,240 Speaker 1: trumpets about the president, to really be on defense here. 377 00:23:07,640 --> 00:23:10,000 Speaker 1: And frankly, I don't quite understand why the president continues 378 00:23:10,040 --> 00:23:12,040 Speaker 1: to take what I believe he thinks our victory laps 379 00:23:12,040 --> 00:23:14,679 Speaker 1: on the Maller Report when you have, as we mentioned before, 380 00:23:14,760 --> 00:23:17,520 Speaker 1: a stellar economy. Ways that he could really be spiking 381 00:23:17,520 --> 00:23:20,560 Speaker 1: to football um on matters that matter to Americans who 382 00:23:20,560 --> 00:23:23,960 Speaker 1: are going to be voting next year. But if the 383 00:23:23,960 --> 00:23:26,080 Speaker 1: mall Report is going to be a point of focus 384 00:23:26,119 --> 00:23:29,040 Speaker 1: for him, particularly on a conversation with Vladimir Putin, I 385 00:23:29,040 --> 00:23:31,320 Speaker 1: one agree with Louise that this would have been an 386 00:23:31,320 --> 00:23:34,600 Speaker 1: opportunity for him to make that case in an unequivocal way. Well, 387 00:23:34,600 --> 00:23:37,000 Speaker 1: you know, he talks about being presidential, and that was 388 00:23:37,040 --> 00:23:39,000 Speaker 1: one of his big goals when he became president, that 389 00:23:39,000 --> 00:23:41,399 Speaker 1: he was going to be presidential. This would be a 390 00:23:41,480 --> 00:23:44,159 Speaker 1: presidential thing for him to say, now you know, we 391 00:23:44,240 --> 00:23:47,119 Speaker 1: get these redoubts on what he discussed with Putin and 392 00:23:47,200 --> 00:23:49,920 Speaker 1: what he said he discussed and what his press secretary 393 00:23:50,000 --> 00:23:51,919 Speaker 1: says he discussed. And do you ever really feel like 394 00:23:51,920 --> 00:23:54,560 Speaker 1: you're getting the full story? I know I don't, so 395 00:23:54,680 --> 00:23:57,240 Speaker 1: I mean so so did he maybe say to say 396 00:23:57,280 --> 00:23:59,320 Speaker 1: to Putin, Look, you know we're not going to take that, 397 00:23:59,520 --> 00:24:01,520 Speaker 1: but I'm not going to say that, and I'm not 398 00:24:01,600 --> 00:24:04,600 Speaker 1: going to humiliate you that way. I think that there 399 00:24:05,320 --> 00:24:08,680 Speaker 1: from from the broader perspective to the point that both 400 00:24:08,680 --> 00:24:10,800 Speaker 1: of you are trying to make that when you have 401 00:24:11,680 --> 00:24:15,560 Speaker 1: the first conversation between these two world leaders since the 402 00:24:16,040 --> 00:24:19,959 Speaker 1: publication of the redacted version of the Mueller Report, and 403 00:24:20,080 --> 00:24:24,000 Speaker 1: you have an escalating situation in Venezuela where the US 404 00:24:24,119 --> 00:24:28,240 Speaker 1: and Russia are on opposing sides, it might have been 405 00:24:29,320 --> 00:24:34,240 Speaker 1: there might have been a better way to communicate what 406 00:24:34,280 --> 00:24:37,359 Speaker 1: was said on that call. Coming up panel stays Luis 407 00:24:37,400 --> 00:24:40,520 Speaker 1: ky Avoni as well as Mattie Douppler, and you can 408 00:24:40,600 --> 00:24:44,040 Speaker 1: download the sound on podcast on Apple iTunes, at Bloomberg 409 00:24:44,080 --> 00:24:46,679 Speaker 1: dot com, or by downloading the Bloomberg Business app. You 410 00:24:46,680 --> 00:24:49,520 Speaker 1: can also find us on Radio dot com, I Heart Radio, 411 00:24:50,000 --> 00:24:53,480 Speaker 1: and Spotify. And remember be sure to tune into Bloomberg 412 00:24:53,600 --> 00:24:56,840 Speaker 1: this weekend for live coverage of the most exciting two 413 00:24:56,880 --> 00:25:00,440 Speaker 1: minutes in sports, the hundred and forty ning of the 414 00:25:00,520 --> 00:25:05,680 Speaker 1: Kentucky Derby tomorrow five pm, right here on Bloomberg one. 415 00:25:08,680 --> 00:25:12,520 Speaker 1: This is Sound On with Kevin's he related on Bloomberg 416 00:25:13,400 --> 00:25:15,720 Speaker 1: one and one oh five point seven m h D 417 00:25:15,840 --> 00:25:20,480 Speaker 1: two Baltimore. Busy Day, Busy week, Welcome back. I'm Kevin's really, 418 00:25:20,520 --> 00:25:25,000 Speaker 1: Bloomberg TV and Bloomberg Radio chief Washington correspondent here to 419 00:25:25,359 --> 00:25:30,560 Speaker 1: navigate through the bevy, dizzying pace of the Friday news flow. 420 00:25:30,560 --> 00:25:34,760 Speaker 1: Maddie Doppler is a Senior Fellow at the National Taxpayers 421 00:25:34,840 --> 00:25:38,000 Speaker 1: Union and former Coalitions director for the House Republican Conference. 422 00:25:38,080 --> 00:25:42,960 Speaker 1: Luis ky Avoni journalist, veteran Washington journalist, and senior lecturer 423 00:25:43,400 --> 00:25:46,560 Speaker 1: at Johns Hopkins University's Carey Business School, where she now 424 00:25:46,600 --> 00:25:52,000 Speaker 1: teaches courses on crisis communications. Really the vantage point of 425 00:25:52,000 --> 00:25:57,000 Speaker 1: all things colliding in Washington, Wall Street and the media. Luis, 426 00:25:57,119 --> 00:26:01,000 Speaker 1: this weekend is tomorrow at five the most fighting two 427 00:26:01,040 --> 00:26:04,760 Speaker 1: minutes in sports. It's the Kentucky Derby, and we're actually 428 00:26:04,800 --> 00:26:07,880 Speaker 1: going to be broadcasting it right here on Bloomberg at 429 00:26:07,920 --> 00:26:12,160 Speaker 1: five pm, and uh, I was just thinking in the break. 430 00:26:12,560 --> 00:26:15,480 Speaker 1: You know, there was where I grew up outside of Phillia, Delco. 431 00:26:15,640 --> 00:26:20,840 Speaker 1: There was this annual revolving door Kentucky Derby party. And 432 00:26:20,920 --> 00:26:23,639 Speaker 1: I can't tell you, I don't I always think that 433 00:26:23,680 --> 00:26:27,159 Speaker 1: whenever there were these block parties, I would miss the 434 00:26:27,200 --> 00:26:30,600 Speaker 1: two minutes and you're like so excited for these horse 435 00:26:30,720 --> 00:26:32,000 Speaker 1: races and then it's gone. So you know what I'm 436 00:26:32,040 --> 00:26:35,520 Speaker 1: gonna do Tomorrow'm gonna listen to Bloomberg at five pm, 437 00:26:35,560 --> 00:26:38,320 Speaker 1: and I'm going to hear the Kentucky Derby And I 438 00:26:38,359 --> 00:26:41,160 Speaker 1: have no idea who to root for, how to bet, 439 00:26:41,200 --> 00:26:43,560 Speaker 1: but I will say there's like nineteen horses and it's 440 00:26:43,560 --> 00:26:46,119 Speaker 1: supposed to reign. It's gonna be really muddy. Reminds me 441 00:26:46,160 --> 00:26:50,920 Speaker 1: of the Democratic presidential primary. Omaha Beach is the four 442 00:26:50,960 --> 00:26:54,640 Speaker 1: to one early favorite, owned by Richard Mandela, Bob Bafford. 443 00:26:55,080 --> 00:26:57,560 Speaker 1: Who do you like in? Who do I Like in? 444 00:26:57,560 --> 00:27:03,919 Speaker 1: T Are you seriously? Yeah? My transition Christine brought, our 445 00:27:03,960 --> 00:27:06,320 Speaker 1: executive producer, is proud. This is what I think is 446 00:27:06,359 --> 00:27:10,760 Speaker 1: interesting about the Democrats. Why do they keep on adding 447 00:27:10,960 --> 00:27:15,080 Speaker 1: more people to the Democratic field Because they don't believe 448 00:27:15,160 --> 00:27:18,800 Speaker 1: they have a winner yet. Who's they the Democratic Party? Yeah, 449 00:27:18,840 --> 00:27:21,119 Speaker 1: pop quiz. Another person jumped into the race. There was 450 00:27:21,160 --> 00:27:23,800 Speaker 1: actually a son of Democrat who wasn't running for president 451 00:27:23,840 --> 00:27:26,680 Speaker 1: up until this week. If you can't believe, I'm just surprised, 452 00:27:26,680 --> 00:27:28,440 Speaker 1: and you know what, I will go to I will 453 00:27:28,640 --> 00:27:31,120 Speaker 1: say this the whole second. I'm still surprised Senator share 454 00:27:31,160 --> 00:27:34,639 Speaker 1: Brown didn't throw his name in the Democrat from Ohio especially, 455 00:27:34,720 --> 00:27:38,560 Speaker 1: I think maybe he should get the nomination. I'm kidding really, 456 00:27:38,720 --> 00:27:41,359 Speaker 1: but I mean, I don't know, but um, but I 457 00:27:41,400 --> 00:27:43,840 Speaker 1: don't think the Democrats are comfortable with any of the 458 00:27:43,880 --> 00:27:46,240 Speaker 1: people that they have in the field, that any of 459 00:27:46,240 --> 00:27:48,280 Speaker 1: the people they have in the field can be Trump, 460 00:27:48,640 --> 00:27:52,480 Speaker 1: because Trump Trump is still He's got his he's got 461 00:27:52,520 --> 00:27:55,600 Speaker 1: his base. You know, earlier we were talking enough enough, 462 00:27:56,320 --> 00:27:59,160 Speaker 1: chatter enough Kentucky Derby started it. I didn't start. I'd 463 00:27:59,160 --> 00:28:01,560 Speaker 1: like to cover it. I like to, you know, keep 464 00:28:01,640 --> 00:28:03,520 Speaker 1: up with it. It is, it is going on. We're 465 00:28:03,520 --> 00:28:06,240 Speaker 1: going to acknowledge it. But there's this this this the 466 00:28:06,320 --> 00:28:08,520 Speaker 1: story that I I think that we really have to 467 00:28:08,600 --> 00:28:11,560 Speaker 1: keep our eye on as this situation down in Venezuela. 468 00:28:11,920 --> 00:28:14,119 Speaker 1: I mean, are you following this and now the refugee 469 00:28:14,119 --> 00:28:17,600 Speaker 1: crisis with with the millions of refugees, This is such 470 00:28:17,640 --> 00:28:22,600 Speaker 1: a long term US domestic policy issue that is going 471 00:28:22,640 --> 00:28:27,320 Speaker 1: to transcend either political party, no matter who occupies the 472 00:28:27,359 --> 00:28:30,560 Speaker 1: White House. This situation in Venezuela with Moon Guido, who 473 00:28:30,640 --> 00:28:34,359 Speaker 1: is the National Assembly leader, he is, he is backed 474 00:28:34,400 --> 00:28:38,760 Speaker 1: by the Venezuelan people, he was elected in Venezuela. He 475 00:28:39,000 --> 00:28:42,200 Speaker 1: is what the international community, with the exception of Russia, 476 00:28:42,720 --> 00:28:47,040 Speaker 1: is recognizing. Everyone from French President Emanuel mccron to President 477 00:28:47,080 --> 00:28:50,400 Speaker 1: Donald Trump, to Speaker of the House Nancy Pelosi to 478 00:28:50,520 --> 00:28:54,320 Speaker 1: a host of other broad international coalitions are back in Guido, 479 00:28:54,680 --> 00:28:56,200 Speaker 1: but not necessary. And I don't want to say back 480 00:28:56,240 --> 00:28:58,280 Speaker 1: in because that implies what Tulci Gabbert would say is 481 00:28:58,320 --> 00:29:00,840 Speaker 1: boots on the ground. What it me they're backing the 482 00:29:00,880 --> 00:29:04,560 Speaker 1: democratic process that was that was at play in Venezuela, 483 00:29:04,720 --> 00:29:09,880 Speaker 1: that has been interrupted by Maduro refusing to seed power. 484 00:29:10,080 --> 00:29:14,160 Speaker 1: And so this is why it matters. You've got Venezuela 485 00:29:14,800 --> 00:29:19,000 Speaker 1: obviously enclose to your graphic proximity to the US. You 486 00:29:19,080 --> 00:29:23,160 Speaker 1: now have millions of refugees from Venezuela. Should there ever 487 00:29:23,240 --> 00:29:27,480 Speaker 1: be a war in Venezuela, that humanitarian crisis and refugee 488 00:29:27,520 --> 00:29:32,320 Speaker 1: crisis would it would grow exponentially, uh, and that is 489 00:29:32,360 --> 00:29:34,560 Speaker 1: going to be a situation that the US will have 490 00:29:34,600 --> 00:29:39,200 Speaker 1: to monitor, obviously for decades to come. Then you have 491 00:29:39,320 --> 00:29:42,880 Speaker 1: the issue of oil, which of course everyone knows Venezuela's 492 00:29:42,920 --> 00:29:48,600 Speaker 1: oil reserves are massive and this is such an emerging market, 493 00:29:48,720 --> 00:29:51,600 Speaker 1: but no one wants to have investment right now in there. 494 00:29:52,160 --> 00:29:55,800 Speaker 1: And the threat of additional sanctions on the Madura regime 495 00:29:56,280 --> 00:30:00,120 Speaker 1: from the US is something that is clearly impacting one 496 00:30:00,160 --> 00:30:03,560 Speaker 1: of the founding members of OPEC. Beyond that, the geopolitics 497 00:30:03,600 --> 00:30:06,000 Speaker 1: that are at play here, right, You've got China making 498 00:30:06,040 --> 00:30:09,320 Speaker 1: a player from the technological standpoint, You've got Russia as 499 00:30:09,320 --> 00:30:11,200 Speaker 1: a thorn in the side of the US and just 500 00:30:11,600 --> 00:30:16,959 Speaker 1: tinkering here with the perspective of the US and Cuba, 501 00:30:17,160 --> 00:30:19,840 Speaker 1: and then Cuba, Cuba, Cuba, Cuba. Where where do you 502 00:30:19,880 --> 00:30:23,040 Speaker 1: think Medoro is gonna end up? Cuba? So then you've 503 00:30:23,040 --> 00:30:25,320 Speaker 1: got the Cubans, which is why Maddie brings us up 504 00:30:25,360 --> 00:30:28,200 Speaker 1: to speed on what President Trump has done with Cuba 505 00:30:28,240 --> 00:30:31,440 Speaker 1: in recent weeks. Well, I bring up Cuba because this 506 00:30:31,520 --> 00:30:33,960 Speaker 1: is after years of the United States trying to pivot 507 00:30:34,000 --> 00:30:37,760 Speaker 1: away from its traditional position on Cuba, which has also 508 00:30:37,840 --> 00:30:42,800 Speaker 1: been viewed as a a shift in American domestic politics 509 00:30:42,800 --> 00:30:46,040 Speaker 1: because Cubans, of course tend to migrate to Florida, a 510 00:30:46,120 --> 00:30:49,600 Speaker 1: state that is very important to us in our presidential elections. 511 00:30:50,000 --> 00:30:54,360 Speaker 1: Uh So, I think that right now you've got uh 512 00:30:54,720 --> 00:30:58,959 Speaker 1: different opinions, are different conflicting accounts on what happened, um 513 00:30:59,120 --> 00:31:02,440 Speaker 1: these last two days with Miduro. Whether or not Cuba 514 00:31:02,480 --> 00:31:04,280 Speaker 1: and Russia told him to stay and he was on 515 00:31:04,280 --> 00:31:06,880 Speaker 1: a plane ready to leave, we don't know whether or 516 00:31:06,880 --> 00:31:09,480 Speaker 1: not that actually happened. The United States government Pompeia um 517 00:31:10,560 --> 00:31:12,960 Speaker 1: Secretary State had said that this was indeed the situation 518 00:31:12,960 --> 00:31:18,840 Speaker 1: on the ground. But we know that this conflict has 519 00:31:18,880 --> 00:31:21,640 Speaker 1: the ability, Kevin, as you said earlier, to bleed not 520 00:31:21,680 --> 00:31:26,000 Speaker 1: only into other diplomatic areas the United States have been 521 00:31:26,000 --> 00:31:28,800 Speaker 1: working hard at, but also if there is a refugee 522 00:31:28,800 --> 00:31:32,920 Speaker 1: crisis here isn't resolved, correct, I should say that if 523 00:31:32,920 --> 00:31:35,040 Speaker 1: this isn't resolved in short order, which at the beginning 524 00:31:35,080 --> 00:31:37,479 Speaker 1: of the week was the presumption with this kind of 525 00:31:37,600 --> 00:31:43,680 Speaker 1: new uh offensive from one White Oh, that will be 526 00:31:43,800 --> 00:31:45,640 Speaker 1: of course something that will end up the Unit States border. 527 00:31:45,680 --> 00:31:48,400 Speaker 1: And I just want to be really clear here in 528 00:31:48,520 --> 00:31:51,480 Speaker 1: terms of just how nonpart is in this issue. Has 529 00:31:51,520 --> 00:31:56,680 Speaker 1: become their outlier voices on this issue, including Representative Alan Omar, 530 00:31:56,800 --> 00:32:01,600 Speaker 1: the freshman congresswoman from Minnesota, as well as Presentative Tulsea Gabbard, 531 00:32:01,720 --> 00:32:08,160 Speaker 1: another Democrat. But um, it's Speaker Pelosi, Emmanuel McCrone and Trump. 532 00:32:08,240 --> 00:32:10,000 Speaker 1: I mean, they don't see eye to eye on anything. 533 00:32:10,200 --> 00:32:12,280 Speaker 1: They see eye to eye on this. And with regards 534 00:32:12,320 --> 00:32:15,000 Speaker 1: to Russia, I think the question and when you talk 535 00:32:15,120 --> 00:32:18,720 Speaker 1: to the sources who are really familiar with the situation 536 00:32:19,360 --> 00:32:23,680 Speaker 1: in Venezuela with bon Guido, it the question for Russia, 537 00:32:23,800 --> 00:32:27,400 Speaker 1: which is why it makes President Trump's telephone call with 538 00:32:27,680 --> 00:32:32,360 Speaker 1: Russia President Vladimir Putin today. So all the more interesting 539 00:32:33,480 --> 00:32:37,160 Speaker 1: is are the Russians really can they really afford to 540 00:32:37,200 --> 00:32:39,960 Speaker 1: make a play in Venezuela, Can they really make a 541 00:32:40,040 --> 00:32:42,880 Speaker 1: long term play here, or can they just make it more, 542 00:32:43,480 --> 00:32:45,240 Speaker 1: you know, for lack of a better word, just be 543 00:32:45,560 --> 00:32:50,400 Speaker 1: a mosquito. So I think it's puzzling. I'm puzzled because 544 00:32:50,600 --> 00:32:53,240 Speaker 1: we now have two totally different stories from the Trump 545 00:32:53,280 --> 00:32:56,520 Speaker 1: administration and Trump today saying that he and Putin feel 546 00:32:56,560 --> 00:32:59,200 Speaker 1: the same way, and Putin is not looking to get involved, 547 00:32:59,280 --> 00:33:02,720 Speaker 1: so that's different from what they said. I think it downplays, 548 00:33:02,760 --> 00:33:05,200 Speaker 1: it downplays the involvement. We're gonna have to leave it there, folks. 549 00:33:05,200 --> 00:33:07,760 Speaker 1: Mattie Zeppler, Luiskaimoni, thanks so much for hanging out with 550 00:33:07,800 --> 00:33:10,920 Speaker 1: me on this Friday diving into the policy. It's always fun. 551 00:33:11,000 --> 00:33:13,280 Speaker 1: Be sure to tune into Bloomberg tomorrow at five Saturday 552 00:33:13,320 --> 00:33:15,800 Speaker 1: at five for the Kentucky derby that does it for me. 553 00:33:15,880 --> 00:33:19,720 Speaker 1: I'm Kevin SURREALI you're listening to Bloomberg one