1 00:00:01,440 --> 00:00:06,160 Speaker 1: Now from our nation's capital. This is Bloomberg Sound on 2 00:00:07,480 --> 00:00:10,280 Speaker 1: Democracy is at stake, and we have to have alliances 3 00:00:10,280 --> 00:00:13,680 Speaker 1: of people that strongly disagree on everything, but that fact 4 00:00:13,720 --> 00:00:15,920 Speaker 1: inflation is not going to be a problem. Flacion will 5 00:00:15,960 --> 00:00:20,960 Speaker 1: moderate Bloomberg Sound on Politics, policy and perspective from DC's 6 00:00:21,040 --> 00:00:25,079 Speaker 1: top name. It would be insanity if the Democrats don't 7 00:00:25,120 --> 00:00:28,120 Speaker 1: do something on build back better. Pennsylvania, one of the 8 00:00:28,120 --> 00:00:31,400 Speaker 1: closest states in the election, will be critical for deciding 9 00:00:31,440 --> 00:00:36,640 Speaker 1: which party controls the Senate. After Bloomberg Sound On with 10 00:00:36,760 --> 00:00:42,200 Speaker 1: Joe Matthew on Bloomberg Radio, Welcome to the Fastest Hour 11 00:00:42,320 --> 00:00:45,000 Speaker 1: in Politics, says we headed to this weekend with big 12 00:00:45,080 --> 00:00:49,000 Speaker 1: questions about our economy and specifically the job market after 13 00:00:49,000 --> 00:00:53,159 Speaker 1: today's big report, the implications for inflation and the risks 14 00:00:53,240 --> 00:00:57,040 Speaker 1: posed by COVID add to an important conversation we will 15 00:00:57,080 --> 00:01:01,200 Speaker 1: have with one of President Biden's top economic advisors, Brian ds, 16 00:01:01,280 --> 00:01:04,440 Speaker 1: director of the National Economic Council, will join us live 17 00:01:04,480 --> 00:01:07,920 Speaker 1: to start the hour. Later, the Biden administration's vaccine or 18 00:01:08,000 --> 00:01:11,039 Speaker 1: test mandate goes before the Supreme Court. Will bring you 19 00:01:11,080 --> 00:01:14,200 Speaker 1: into the arguments today in Washington and discuss possible outcomes 20 00:01:14,200 --> 00:01:17,880 Speaker 1: with Bloomberg's Greg Store. The panel is in place this Friday. 21 00:01:18,080 --> 00:01:21,759 Speaker 1: Bloomberg Politics contributors Jeanie Chanzano and Rick Davis with us 22 00:01:22,040 --> 00:01:24,920 Speaker 1: to help make sense of it all. President Biden addressed 23 00:01:24,920 --> 00:01:27,280 Speaker 1: the nation after the job's report was released this morning. 24 00:01:27,319 --> 00:01:30,640 Speaker 1: You heard him live here on Bloomberg. The payroll's number 25 00:01:30,640 --> 00:01:33,360 Speaker 1: again was about half the level expected, but the unemployment 26 00:01:33,440 --> 00:01:36,720 Speaker 1: rate fell more than expected, and many of the internal 27 00:01:36,800 --> 00:01:39,400 Speaker 1: data points were positive. Here's the President speaking earlier in 28 00:01:39,440 --> 00:01:43,920 Speaker 1: the State dining room. Today's national unemployment rate fell below 29 00:01:44,080 --> 00:01:49,680 Speaker 1: four three point n the sharpest one year drop an 30 00:01:49,720 --> 00:01:53,200 Speaker 1: unemployment in the United States history of the first time 31 00:01:53,280 --> 00:01:56,360 Speaker 1: the unemployment rate has been under four percent in the 32 00:01:56,400 --> 00:01:59,800 Speaker 1: first year of a presidential term in fifty years. For 33 00:02:00,040 --> 00:02:06,600 Speaker 1: good development three elsewhere. Workforce participation essentially unchanged. Average hourly 34 00:02:06,600 --> 00:02:09,960 Speaker 1: earnings up six tenths of a percent, the biggest increase 35 00:02:10,040 --> 00:02:13,160 Speaker 1: since April, leading to more worries about wage inflation. We've 36 00:02:13,160 --> 00:02:16,120 Speaker 1: been hearing about constantly on Wall Street. And that is 37 00:02:16,120 --> 00:02:18,600 Speaker 1: where we begin with Brian d Director of the President's 38 00:02:18,639 --> 00:02:21,440 Speaker 1: National Economic Council. Brian, I want to thank you for 39 00:02:21,480 --> 00:02:24,720 Speaker 1: taking time out of your Friday for us happy to 40 00:02:24,760 --> 00:02:27,600 Speaker 1: be here, Joe. Our analysts have Bloomberg economics right. This 41 00:02:27,720 --> 00:02:31,120 Speaker 1: Job's report likely will alleviate any lingering doubts on the 42 00:02:31,160 --> 00:02:34,600 Speaker 1: part of more dubbish f O m C members that 43 00:02:34,720 --> 00:02:38,960 Speaker 1: the final hurdle for liftoff has been met? Are they right? 44 00:02:39,000 --> 00:02:43,200 Speaker 1: Are we ready for liftoff? Well, what I would say 45 00:02:43,280 --> 00:02:46,000 Speaker 1: is that it's a report that caps off a historic 46 00:02:46,560 --> 00:02:49,399 Speaker 1: you're of economic recovery. You heard the president three point 47 00:02:49,520 --> 00:02:56,000 Speaker 1: nine unemployment That is a historically low level and historically 48 00:02:56,120 --> 00:03:00,519 Speaker 1: rapid labor market recovery, the strongest drop recover for any 49 00:03:00,520 --> 00:03:06,840 Speaker 1: first year in presidential administration in a half century. And 50 00:03:06,919 --> 00:03:10,960 Speaker 1: I think it reflects the strength of the underlying economy. 51 00:03:11,000 --> 00:03:14,400 Speaker 1: We're seeing broadly economic growth um coming in in the 52 00:03:14,480 --> 00:03:18,480 Speaker 1: you know, five to six percent range one as well. 53 00:03:18,639 --> 00:03:22,320 Speaker 1: So I think we've made enormous progress from the crisis 54 00:03:22,360 --> 00:03:25,520 Speaker 1: conditions that the economy was in a year ago. We 55 00:03:25,560 --> 00:03:28,920 Speaker 1: still have a lot a long way to go across 56 00:03:29,040 --> 00:03:31,720 Speaker 1: a number of vectors. We still have challenges, but we 57 00:03:31,760 --> 00:03:33,960 Speaker 1: are certain we have certainly made historic progress. And I 58 00:03:33,960 --> 00:03:36,520 Speaker 1: think that's what's the main takeaway from this report. Well, 59 00:03:36,520 --> 00:03:38,440 Speaker 1: realizing you may not want to speculate on what the 60 00:03:38,440 --> 00:03:41,760 Speaker 1: FED will do. How would you describe this this stage 61 00:03:42,000 --> 00:03:44,680 Speaker 1: of the job market, if if we've met the final 62 00:03:44,760 --> 00:03:47,640 Speaker 1: hurdle for liftoff, and if you don't mind me using 63 00:03:47,680 --> 00:03:50,240 Speaker 1: that phrase, because I think it describes kind of where 64 00:03:50,240 --> 00:03:52,440 Speaker 1: we are here. How close is this labor market Brian 65 00:03:52,480 --> 00:03:56,480 Speaker 1: to getting back to where it was before the pandemic. Well, 66 00:03:56,520 --> 00:03:59,240 Speaker 1: we've made historic progress at a pace that very few 67 00:03:59,240 --> 00:04:01,360 Speaker 1: thought was possible. So I think to put it in 68 00:04:01,480 --> 00:04:04,720 Speaker 1: context before we pass the American Rescue Plan. At the 69 00:04:04,720 --> 00:04:09,160 Speaker 1: beginning of most professional forecasters were suggesting that we would 70 00:04:09,160 --> 00:04:12,520 Speaker 1: not get down to or below four percent unemployment until 71 00:04:13,920 --> 00:04:18,039 Speaker 1: some beyond that. We've done that now over a single year, 72 00:04:18,440 --> 00:04:22,200 Speaker 1: so historic pace of progress. At the same time there 73 00:04:22,279 --> 00:04:25,080 Speaker 1: are we are we are still still have you know, 74 00:04:26,680 --> 00:04:31,039 Speaker 1: ground to make up, including in particular sectors and demographics. 75 00:04:31,360 --> 00:04:33,760 Speaker 1: There's still you know, one and a half million women 76 00:04:34,320 --> 00:04:37,919 Speaker 1: down in terms of labor force participation. We still have 77 00:04:38,920 --> 00:04:41,880 Speaker 1: challenging sectors of the economy that have been affected by 78 00:04:41,920 --> 00:04:44,240 Speaker 1: that by the pandemic, and so part of what is 79 00:04:44,600 --> 00:04:47,320 Speaker 1: important about the pace of the recovery and part of 80 00:04:47,360 --> 00:04:50,520 Speaker 1: the President's economic strategy and the legislation that we've been 81 00:04:50,560 --> 00:04:52,920 Speaker 1: able to put in place is we need to continue 82 00:04:52,920 --> 00:04:54,960 Speaker 1: this strong pace of growth so that we come out 83 00:04:54,960 --> 00:04:58,320 Speaker 1: of this recovery strong as well. So certainly I think 84 00:04:58,320 --> 00:05:00,440 Speaker 1: we're you know, we're making historic progress. So we've got 85 00:05:00,440 --> 00:05:03,719 Speaker 1: to continue that pace, but we still have to keep 86 00:05:03,760 --> 00:05:06,799 Speaker 1: it going to get the full benefits of a strong 87 00:05:07,400 --> 00:05:10,200 Speaker 1: labor market recovery across time. I want to play something 88 00:05:10,400 --> 00:05:13,039 Speaker 1: that the President said today in his address from the 89 00:05:13,040 --> 00:05:15,640 Speaker 1: White House about the debate over inflation. I know, Brian, 90 00:05:15,680 --> 00:05:18,679 Speaker 1: you're asked about inflation every day. I ask you about 91 00:05:18,680 --> 00:05:21,200 Speaker 1: it every time we have an opportunity to speak. But 92 00:05:21,240 --> 00:05:24,080 Speaker 1: he was using high car prices as an example here 93 00:05:24,720 --> 00:05:27,560 Speaker 1: and how some people see rising wages as a threat. 94 00:05:27,600 --> 00:05:30,920 Speaker 1: Here he is, you're hearing them complain the wages are 95 00:05:31,000 --> 00:05:34,400 Speaker 1: rising too fast among very middle class and working class 96 00:05:34,400 --> 00:05:39,599 Speaker 1: people who have endured decades of installed incomes. Their view 97 00:05:39,640 --> 00:05:42,920 Speaker 1: of the economy says the only solution to our current 98 00:05:43,360 --> 00:05:47,160 Speaker 1: future challenges is to make the working families that are 99 00:05:47,320 --> 00:05:49,960 Speaker 1: the backbone in our country poor or keep them in 100 00:05:49,960 --> 00:05:54,039 Speaker 1: the same state they're in. It's a pessimistic vision, not rejected, 101 00:05:54,520 --> 00:05:57,719 Speaker 1: I rejected. It's a really interesting moment of the address 102 00:05:57,760 --> 00:06:01,080 Speaker 1: and of the speech today. Uh, Brian, maybe you wrote it. 103 00:06:01,120 --> 00:06:03,480 Speaker 1: Even we could have a whole senior seminar just on 104 00:06:03,520 --> 00:06:07,200 Speaker 1: this this ten second moment. It sounds like a Main 105 00:06:07,240 --> 00:06:10,120 Speaker 1: Street versus Wall Street question, but I'll ask it, how 106 00:06:10,160 --> 00:06:15,640 Speaker 1: could everyone get high wages without causing massive inflation. Well, 107 00:06:15,680 --> 00:06:19,080 Speaker 1: I'm really glad that you highlighted that particular segment, because 108 00:06:19,560 --> 00:06:22,440 Speaker 1: you're right, it was an explicit and intentional choice by 109 00:06:22,440 --> 00:06:25,880 Speaker 1: the president to try to make an argument about what 110 00:06:25,960 --> 00:06:28,920 Speaker 1: we do now that we have seen this historically strong 111 00:06:29,360 --> 00:06:32,799 Speaker 1: labor market performance. And he has a very clear view, 112 00:06:32,880 --> 00:06:36,400 Speaker 1: which is that in order to actually grow the economy, 113 00:06:36,520 --> 00:06:42,120 Speaker 1: we need strong sustainable growth that generates higher wages UH 114 00:06:42,160 --> 00:06:44,919 Speaker 1: and more job opportunities. And the way we do that 115 00:06:45,040 --> 00:06:48,919 Speaker 1: is expanding the productive capacity economy, which means operating on 116 00:06:48,960 --> 00:06:52,840 Speaker 1: the supply side of this economy and actually expanding UH 117 00:06:52,960 --> 00:06:55,880 Speaker 1: the supply. So the answer to your question is, look, 118 00:06:55,920 --> 00:06:59,560 Speaker 1: before the pandemic, we operated for decades in a what 119 00:06:59,680 --> 00:07:03,920 Speaker 1: I would call a low equilibrium, low growth, low wages, 120 00:07:04,360 --> 00:07:07,440 Speaker 1: low interest rates. And part of the reason why this 121 00:07:07,520 --> 00:07:11,400 Speaker 1: president ran for by Joe Biden ran for president was 122 00:07:12,040 --> 00:07:14,640 Speaker 1: on an economic argument that we could do better than that, 123 00:07:14,640 --> 00:07:18,520 Speaker 1: that we could have stronger growth with wage increases and 124 00:07:19,120 --> 00:07:21,960 Speaker 1: expanding the productive capacity of the economy in a way 125 00:07:22,000 --> 00:07:26,040 Speaker 1: that was actually sustainable across time. But if everyone came 126 00:07:26,040 --> 00:07:29,480 Speaker 1: back to work, Brian, we wouldn't still have this wage inflation. Correct. 127 00:07:29,520 --> 00:07:31,640 Speaker 1: Isn't that part of the issue that that some people 128 00:07:31,720 --> 00:07:34,840 Speaker 1: still haven't come back into the workforce and employers are 129 00:07:34,840 --> 00:07:39,160 Speaker 1: paying more for talent. Well, we as the President, are 130 00:07:39,280 --> 00:07:43,280 Speaker 1: articulated today. We are looking at every way we can 131 00:07:43,520 --> 00:07:46,920 Speaker 1: to get Americans working. I would say that three point 132 00:07:46,960 --> 00:07:49,760 Speaker 1: i per sent unemployment rate and an increase in the 133 00:07:49,800 --> 00:07:52,880 Speaker 1: employment to population ratio which we saw this month, that 134 00:07:52,920 --> 00:07:56,320 Speaker 1: we've seen over the course of UM is a signal 135 00:07:56,360 --> 00:07:59,520 Speaker 1: that people are coming back into the labor market. We 136 00:07:59,560 --> 00:08:03,120 Speaker 1: saw the just increase in labor force participation in UM 137 00:08:03,160 --> 00:08:06,240 Speaker 1: in a single year in quite some time. But look, 138 00:08:06,280 --> 00:08:09,920 Speaker 1: there are places, as I mentioned before, female labor perce 139 00:08:09,960 --> 00:08:14,640 Speaker 1: participation participation hasn't returned to those pre prandemic levels. And 140 00:08:14,680 --> 00:08:18,400 Speaker 1: that's why you hear the President talking about UM very 141 00:08:18,440 --> 00:08:21,200 Speaker 1: practical ways in which we can improve That lowering the 142 00:08:21,240 --> 00:08:25,640 Speaker 1: cost of childcare will help more parents and women in 143 00:08:25,680 --> 00:08:29,280 Speaker 1: particular actually get into the labor market. We have a 144 00:08:29,360 --> 00:08:32,880 Speaker 1: challenge of of people who are near retirement who have 145 00:08:33,080 --> 00:08:36,560 Speaker 1: left the labor force. Um and uh. And so as 146 00:08:36,600 --> 00:08:40,479 Speaker 1: the labor market improves and there are more labor job opportunities, 147 00:08:40,760 --> 00:08:42,800 Speaker 1: we're hoping to see more of them come in to 148 00:08:42,880 --> 00:08:46,000 Speaker 1: the labor force as well. But certainly the President is 149 00:08:46,080 --> 00:08:49,840 Speaker 1: articulating a vision that, particularly for the low income part 150 00:08:49,920 --> 00:08:54,079 Speaker 1: of the income distribution, wage increases are not something as 151 00:08:54,080 --> 00:08:56,440 Speaker 1: you said, it's a main street street view, are not 152 00:08:56,520 --> 00:08:59,319 Speaker 1: something to be feared or something to be uh to 153 00:09:00,240 --> 00:09:03,680 Speaker 1: A lot of people think it just it equates to inflation, right, uh, 154 00:09:03,760 --> 00:09:05,719 Speaker 1: Brian Deeson. And I know we don't have a lot 155 00:09:05,760 --> 00:09:07,280 Speaker 1: of time here. I'd love to ask you about the 156 00:09:07,320 --> 00:09:10,440 Speaker 1: expanded child tax credit that has been interrupted. The next 157 00:09:10,520 --> 00:09:12,080 Speaker 1: round of checks would have been going out in about 158 00:09:12,120 --> 00:09:15,559 Speaker 1: a week without build back better being an imminent possibility. 159 00:09:15,640 --> 00:09:18,760 Speaker 1: Is the White House considering alternatives to keep those payments 160 00:09:18,800 --> 00:09:21,480 Speaker 1: going to families or are you worried about what happens 161 00:09:21,520 --> 00:09:25,280 Speaker 1: without them? Well, just to be clear about what's happened 162 00:09:25,320 --> 00:09:28,000 Speaker 1: with the child tax credit, the monthly payments for for 163 00:09:28,160 --> 00:09:32,640 Speaker 1: families one child tax Credit we're paid through from July 164 00:09:32,840 --> 00:09:35,840 Speaker 1: through the end of December. Those families are still eligible 165 00:09:35,880 --> 00:09:38,840 Speaker 1: for the remainder of their child tax credit. They have 166 00:09:38,920 --> 00:09:41,240 Speaker 1: to file their tax returns UM, which they can do 167 00:09:41,280 --> 00:09:43,480 Speaker 1: starting this month, and they will get the remainder of 168 00:09:43,480 --> 00:09:45,840 Speaker 1: that child tax credit when they file their tax return. 169 00:09:46,160 --> 00:09:49,600 Speaker 1: The question of how uh we continue the child tax credit, 170 00:09:49,720 --> 00:09:54,280 Speaker 1: the Enhanced Child Tax Credit into two tax here and 171 00:09:54,320 --> 00:09:57,200 Speaker 1: beyond um is obviously something of the presents very focused on. 172 00:09:57,240 --> 00:09:59,640 Speaker 1: He has a clear view he'd like to see it extended, 173 00:10:00,240 --> 00:10:02,079 Speaker 1: and it is one of the issues that we are 174 00:10:02,160 --> 00:10:04,800 Speaker 1: trying to work through as we work the build back 175 00:10:04,840 --> 00:10:09,560 Speaker 1: better legislation through Congress. But it connects back to your 176 00:10:09,600 --> 00:10:12,160 Speaker 1: broader point that you highlighted about the presence argument today. 177 00:10:12,440 --> 00:10:16,200 Speaker 1: He believes that if we actually help working Americans see 178 00:10:16,240 --> 00:10:18,280 Speaker 1: higher wages and have more money in their pocket, it 179 00:10:18,320 --> 00:10:22,000 Speaker 1: will help to continue this recovery going. And I think 180 00:10:22,200 --> 00:10:25,760 Speaker 1: the academic literature supports that that intuition, which is when 181 00:10:25,800 --> 00:10:27,680 Speaker 1: you see wage increases at the low end of the 182 00:10:27,679 --> 00:10:31,320 Speaker 1: income spectrum, that's the least likely to contribute to what 183 00:10:31,360 --> 00:10:33,680 Speaker 1: you're referring to as a wage price spiral, and it's 184 00:10:33,679 --> 00:10:38,000 Speaker 1: the most likely to actually help to give people more 185 00:10:38,280 --> 00:10:44,280 Speaker 1: uh consumption uh expenditures as well. So that's once one marker. 186 00:10:44,440 --> 00:10:47,640 Speaker 1: We think of a strong and durable recovery. And obviously 187 00:10:47,760 --> 00:10:50,199 Speaker 1: the Fed will operate independently, and we think they've got 188 00:10:50,200 --> 00:10:53,120 Speaker 1: the tools to make sure prices increases don't become entrenched. 189 00:10:53,400 --> 00:10:55,800 Speaker 1: But from our perspective, we're looking at how can we 190 00:10:55,840 --> 00:10:59,040 Speaker 1: actually expand economic growth, you know, call it a sort 191 00:10:59,040 --> 00:11:02,480 Speaker 1: of progressive supply eyes side. How do we make our 192 00:11:02,640 --> 00:11:06,480 Speaker 1: economy more productive rather than make our you know, uh 193 00:11:06,600 --> 00:11:09,520 Speaker 1: families uh poor. Well, lastly, Brian, when I had the 194 00:11:09,520 --> 00:11:13,720 Speaker 1: opportunity to speak with you back in November here on Bloomberg, Uh, 195 00:11:13,760 --> 00:11:15,400 Speaker 1: there was a belief the President might be ready to 196 00:11:15,440 --> 00:11:18,280 Speaker 1: announce his nominees to fill empty seats on the Federal 197 00:11:18,360 --> 00:11:20,760 Speaker 1: Reserve by early December. No one knows this more than you. 198 00:11:21,200 --> 00:11:22,720 Speaker 1: A lot of us thought we might see the names 199 00:11:22,800 --> 00:11:25,680 Speaker 1: this week or even today. Is the White House struggling 200 00:11:25,720 --> 00:11:29,600 Speaker 1: to find the right people we are? Well? Um, I 201 00:11:29,640 --> 00:11:32,040 Speaker 1: think back in back in November we were we were 202 00:11:32,040 --> 00:11:35,040 Speaker 1: talking about the chair that's right and Leo Brainers it 203 00:11:35,120 --> 00:11:38,240 Speaker 1: was that very day and and uh and uh and 204 00:11:38,280 --> 00:11:40,960 Speaker 1: we we made those we made those announcements. At that 205 00:11:41,000 --> 00:11:45,400 Speaker 1: point we had the President has free remaining nominees for 206 00:11:45,480 --> 00:11:48,480 Speaker 1: the Board of Governors and Federal Serve working hard on 207 00:11:48,520 --> 00:11:51,120 Speaker 1: that issue, I UM, and I have spent a lot 208 00:11:51,120 --> 00:11:54,120 Speaker 1: of time on it. I don't think we're struggling. UM. 209 00:11:54,160 --> 00:11:57,200 Speaker 1: I think we're being deliberate in that approach, and I 210 00:11:57,240 --> 00:11:59,520 Speaker 1: would anticipate will have more to say about that issue 211 00:12:00,120 --> 00:12:04,520 Speaker 1: surely shortly. Brian, appreciate it. As always, Brian D's director 212 00:12:04,679 --> 00:12:08,520 Speaker 1: of the White House National Economic Council, the busy man, 213 00:12:08,760 --> 00:12:10,800 Speaker 1: and you're not going to hear a conversation like this 214 00:12:11,000 --> 00:12:14,280 Speaker 1: anywhere else with the president's top economic advisor. Brian. Thank you, 215 00:12:14,320 --> 00:12:16,920 Speaker 1: and have a great weekend coming up. We assemble the panel. 216 00:12:17,040 --> 00:12:19,199 Speaker 1: Rick and Jeanie are on the way. I'm Joe Matthew. 217 00:12:19,440 --> 00:12:25,400 Speaker 1: This is Bloomberg. You're listening to Bloomberg. You sound on 218 00:12:25,800 --> 00:12:31,760 Speaker 1: with Joe Matthew on Bloomberg Radio. So no fed picks today, 219 00:12:32,559 --> 00:12:36,040 Speaker 1: as we've just heard from White House Economic Advisor Brian Deese, 220 00:12:36,040 --> 00:12:40,400 Speaker 1: they're working hard on it and expect to have something soon. 221 00:12:41,120 --> 00:12:43,199 Speaker 1: And so we turned the page on another week. Maybe 222 00:12:43,200 --> 00:12:45,760 Speaker 1: that's the the line up for next week. As the 223 00:12:45,800 --> 00:12:51,080 Speaker 1: President travels as well to make the case for voting reform, 224 00:12:51,240 --> 00:12:55,239 Speaker 1: also at least alluded to on the calendar fascinating conversation 225 00:12:55,280 --> 00:12:58,400 Speaker 1: though with Brian Dies. Shortly was the word he said, shortly, 226 00:12:58,440 --> 00:13:05,080 Speaker 1: not soon. Do we have a metric for shortly? Of course, 227 00:13:05,120 --> 00:13:07,560 Speaker 1: we did think that we get these names early December, 228 00:13:07,559 --> 00:13:09,680 Speaker 1: and there's been reports. My gosh, if you listen to 229 00:13:09,679 --> 00:13:14,280 Speaker 1: this program, you probably know the shortlist already. But we'll 230 00:13:14,280 --> 00:13:16,640 Speaker 1: see them when we find out, of course, and want 231 00:13:16,679 --> 00:13:18,480 Speaker 1: to assemble the panel with Rick and Genie on a 232 00:13:18,520 --> 00:13:25,040 Speaker 1: Friday Bloomberg Politics contributors Jeanie Shenzano and Rick Davis. Shortly, Genie, 233 00:13:25,920 --> 00:13:28,079 Speaker 1: what do you think has taken so long on these picks? 234 00:13:28,200 --> 00:13:29,959 Speaker 1: We talked about a lot of different issues that I'll 235 00:13:30,000 --> 00:13:32,000 Speaker 1: ask you about, but this particular one doesn't seem to 236 00:13:32,040 --> 00:13:35,120 Speaker 1: want to go away. It doesn't. And you know, it's 237 00:13:35,160 --> 00:13:37,520 Speaker 1: hard to tell whether the names being floated over the 238 00:13:37,600 --> 00:13:39,839 Speaker 1: last couple of weeks where trial balloons, and they are 239 00:13:39,920 --> 00:13:42,640 Speaker 1: hearing you know, some qualms about some of those that 240 00:13:42,679 --> 00:13:45,200 Speaker 1: could be it. I also think this week was not 241 00:13:45,320 --> 00:13:47,640 Speaker 1: the week that they would have announced it, given yesterday 242 00:13:47,679 --> 00:13:51,080 Speaker 1: was January six, the President made a very important speech today. 243 00:13:51,120 --> 00:13:53,559 Speaker 1: Obviously a Friday. Back in the day, this used to 244 00:13:53,600 --> 00:13:55,800 Speaker 1: be a quiet newsday. Maybe they didn't want to step 245 00:13:55,800 --> 00:13:58,920 Speaker 1: on that. So you know, I was predicting maybe Monday 246 00:13:59,120 --> 00:14:01,679 Speaker 1: until you talked to Brian Deeson. Now, I'm not so 247 00:14:01,720 --> 00:14:06,160 Speaker 1: sure that constitutes shortly, So, Rick Davis, You've done your 248 00:14:06,160 --> 00:14:10,160 Speaker 1: share of vetting over the years, Uh, is that what 249 00:14:10,280 --> 00:14:12,800 Speaker 1: this is? You you're doing background checks, You're running through 250 00:14:12,920 --> 00:14:16,120 Speaker 1: interviews with people. Maybe somebody you wanted doesn't turn out 251 00:14:16,120 --> 00:14:19,960 Speaker 1: to be a possibility when you consider the confirmation process. Yeah, 252 00:14:20,000 --> 00:14:22,040 Speaker 1: I I really think this is not one of those 253 00:14:22,040 --> 00:14:26,640 Speaker 1: situations that, uh, you're just alluding to, which is like, hey, 254 00:14:26,720 --> 00:14:29,160 Speaker 1: let's let these guys out publicly and see how it 255 00:14:29,200 --> 00:14:31,600 Speaker 1: shakes out. I mean, you really don't want to back 256 00:14:31,680 --> 00:14:33,720 Speaker 1: off of a FED pick, right, I mean, this is 257 00:14:33,720 --> 00:14:37,160 Speaker 1: all about markets and stability and and so like, if 258 00:14:37,200 --> 00:14:39,000 Speaker 1: it leaks out that you've got Rask and Cook and 259 00:14:39,080 --> 00:14:41,160 Speaker 1: Jefferson in the queue, you you kind of want to 260 00:14:41,160 --> 00:14:44,200 Speaker 1: make good on that. And and unless something comes up 261 00:14:44,280 --> 00:14:46,800 Speaker 1: and and frankly, these things take time because you've got 262 00:14:46,800 --> 00:14:49,520 Speaker 1: to run them all through FBI background checks and things 263 00:14:49,560 --> 00:14:52,360 Speaker 1: like that, and those are the kinds of things that 264 00:14:52,520 --> 00:14:55,040 Speaker 1: can trip you up after you've already leaked the fact 265 00:14:55,040 --> 00:14:57,600 Speaker 1: that you're looking at these folks. And so it's it's 266 00:14:57,600 --> 00:15:00,560 Speaker 1: hard to imagine why it's taken this law. It's even 267 00:15:00,600 --> 00:15:04,400 Speaker 1: harder to imagine the reaction you got from Brian D's 268 00:15:04,480 --> 00:15:08,400 Speaker 1: which was totally noncommittal on like when we're gonna see 269 00:15:08,440 --> 00:15:13,040 Speaker 1: these these appointments made shortly a few couple. I don't 270 00:15:13,080 --> 00:15:15,400 Speaker 1: know how you you know, where do you go with that? 271 00:15:15,560 --> 00:15:19,400 Speaker 1: And uh, but he wasn't gonna get stuck on predicting. 272 00:15:19,440 --> 00:15:21,200 Speaker 1: And as I said the other day, when you tried 273 00:15:21,280 --> 00:15:23,720 Speaker 1: to nail me down on when these things were coming out, 274 00:15:23,760 --> 00:15:26,920 Speaker 1: and said, no way. So I'm on Brian D's aside 275 00:15:26,920 --> 00:15:29,400 Speaker 1: on this one. He got that one as usual. Rick 276 00:15:29,480 --> 00:15:31,520 Speaker 1: was right. Uh, I want to hear from both of 277 00:15:31,560 --> 00:15:33,800 Speaker 1: you on the president today is coming off of the 278 00:15:33,880 --> 00:15:36,880 Speaker 1: January six stuff, but he had to speak to the 279 00:15:36,960 --> 00:15:39,720 Speaker 1: nation about this report. It was a carefully written speech 280 00:15:39,760 --> 00:15:42,920 Speaker 1: once again and highlighted the lower unemployment rate as opposed 281 00:15:42,960 --> 00:15:45,360 Speaker 1: to the headline you know, payroll number that came up short. 282 00:15:45,400 --> 00:15:48,600 Speaker 1: But he was really leaning into this once again, addressing 283 00:15:48,640 --> 00:15:52,080 Speaker 1: critics as we discussed with Briands and said this as well, 284 00:15:52,080 --> 00:15:56,440 Speaker 1: here's the president again from this morning. Today, America is 285 00:15:56,520 --> 00:16:00,440 Speaker 1: the only leading economy in the world where the economy 286 00:16:00,480 --> 00:16:05,120 Speaker 1: as a whole is stronger than before the pandemic. Now 287 00:16:05,280 --> 00:16:09,480 Speaker 1: Here Republicans say today that my talking about this strong 288 00:16:09,560 --> 00:16:14,000 Speaker 1: record shows that I don't understand. I don't understand a 289 00:16:14,040 --> 00:16:16,320 Speaker 1: lot of people are still suffering. They say, well, they are, 290 00:16:17,040 --> 00:16:21,360 Speaker 1: or that I'm not focused on inflation. Malarkey, I want 291 00:16:21,360 --> 00:16:24,120 Speaker 1: to talk down the recovery because they voted against the 292 00:16:24,200 --> 00:16:29,920 Speaker 1: legislation that made it happen. Malarkey, he says, Jennie calling 293 00:16:29,960 --> 00:16:35,120 Speaker 1: out the skeptics here calling out Republicans by name, or 294 00:16:35,160 --> 00:16:37,960 Speaker 1: at least the party by name. Here, is this the 295 00:16:38,040 --> 00:16:41,240 Speaker 1: new sort of turn into a midterm election year where 296 00:16:41,240 --> 00:16:43,680 Speaker 1: every time we get good news, it also comes with 297 00:16:43,720 --> 00:16:47,120 Speaker 1: that That's right, and you know, malarkey, very much in 298 00:16:47,200 --> 00:16:50,080 Speaker 1: keeping with the way Joe Biden likes to speak, and 299 00:16:50,080 --> 00:16:54,080 Speaker 1: and you know, I think for for Democrats. Prior to 300 00:16:54,160 --> 00:16:57,080 Speaker 1: the pandemic, many people said Donald Trump could not be 301 00:16:57,080 --> 00:17:01,360 Speaker 1: beat because the economy was incredibly strong. The pandemic upended 302 00:17:01,400 --> 00:17:03,400 Speaker 1: that to a certain extent, and I think you see 303 00:17:03,440 --> 00:17:06,200 Speaker 1: the president here trying to make the case that since 304 00:17:06,240 --> 00:17:09,800 Speaker 1: he's taken over, the economy has recovered much more quickly 305 00:17:09,840 --> 00:17:12,840 Speaker 1: than many economists predicted, and I think that's something they 306 00:17:12,880 --> 00:17:15,080 Speaker 1: are going to try to run on here. Of course, 307 00:17:15,119 --> 00:17:18,280 Speaker 1: what he didn't talk about, in addition to those, uh, 308 00:17:18,600 --> 00:17:23,320 Speaker 1: those lower unemployment numbers, was the inequalities that persists, particularly 309 00:17:23,359 --> 00:17:25,879 Speaker 1: as you talked about with your interview with Brian for 310 00:17:25,960 --> 00:17:29,199 Speaker 1: women and black and and and black workers, black Americans. 311 00:17:29,480 --> 00:17:31,879 Speaker 1: Those are two issues that the President is also going 312 00:17:31,920 --> 00:17:34,440 Speaker 1: to talk about because he's gonna say this supports but 313 00:17:34,720 --> 00:17:36,560 Speaker 1: what we want to do with build back better. So 314 00:17:36,600 --> 00:17:39,560 Speaker 1: I think those are things we're going to hear going forward. Rick, 315 00:17:39,640 --> 00:17:42,359 Speaker 1: did you didn't come up with no malarchy, but it 316 00:17:42,440 --> 00:17:46,359 Speaker 1: was no straight talk express. We're all aware of that, right. Yeah. 317 00:17:46,400 --> 00:17:49,720 Speaker 1: He was laying down the gauntlet, was these Republicans saying, hey, 318 00:17:49,720 --> 00:17:51,760 Speaker 1: my economy is just as good as Donald Trump's was, 319 00:17:51,840 --> 00:17:54,760 Speaker 1: if not better, and uh, refer to the markets too. 320 00:17:54,760 --> 00:17:57,679 Speaker 1: He says, Look, we are in the last year record 321 00:17:57,720 --> 00:18:00,560 Speaker 1: after record even as we try to take care of 322 00:18:00,560 --> 00:18:04,040 Speaker 1: of lower income Americans. But is he doing the right 323 00:18:04,080 --> 00:18:06,280 Speaker 1: thing here? Rick? Could? Are we going to endure a 324 00:18:06,359 --> 00:18:09,399 Speaker 1: year of that. Yeah, well, honestly, I don't think you 325 00:18:09,440 --> 00:18:11,840 Speaker 1: can say it enough. I mean, this is an administration 326 00:18:11,840 --> 00:18:14,680 Speaker 1: that has spent little time or had the opportunity to 327 00:18:14,720 --> 00:18:17,640 Speaker 1: spend little time talking about the economy. I mean, it's 328 00:18:17,640 --> 00:18:23,879 Speaker 1: been COVID, it's been international problems, you know, Russia, China, Afghanistan. 329 00:18:24,320 --> 00:18:26,480 Speaker 1: I mean, they've been tied up in a very bad 330 00:18:26,560 --> 00:18:31,000 Speaker 1: cycle of communication challenges. And the reality is elections are 331 00:18:31,040 --> 00:18:34,200 Speaker 1: about the economy, and and if they don't start talking 332 00:18:34,200 --> 00:18:38,040 Speaker 1: about the economy, war and changing people's perspective on this 333 00:18:38,119 --> 00:18:42,360 Speaker 1: administration's administration of that economy, Uh, they're going to take 334 00:18:42,400 --> 00:18:44,919 Speaker 1: it in the shorts, in the in the in the midterms. 335 00:18:44,920 --> 00:18:47,200 Speaker 1: And he's got he's got a record to run on. 336 00:18:47,600 --> 00:18:50,480 Speaker 1: Obviously he's got to pay some attention inflation. But now 337 00:18:50,680 --> 00:18:54,160 Speaker 1: is the time. Vic Genie or with us for the hour, 338 00:18:54,240 --> 00:18:56,280 Speaker 1: will rejoin the panel in a bit. Coming up, the 339 00:18:56,320 --> 00:19:00,560 Speaker 1: President's vaccine or test mandate for employers go before the 340 00:19:00,600 --> 00:19:04,520 Speaker 1: Supreme Court. Arguments heard this morning in Washington, and we'll 341 00:19:04,560 --> 00:19:07,000 Speaker 1: talk about it coming up with Bloomberg Supreme Court reporter 342 00:19:07,080 --> 00:19:10,320 Speaker 1: Greg's store here on the Fastest Hour in Politics, fascinating 343 00:19:10,400 --> 00:19:13,040 Speaker 1: arguments will bring you in the room on sound on. 344 00:19:13,160 --> 00:19:17,640 Speaker 1: I'm Joe Matthew. This is Bloomberg. The stat I read 345 00:19:17,680 --> 00:19:21,159 Speaker 1: today and Greg's stores story on the terminal blew me 346 00:19:21,200 --> 00:19:24,119 Speaker 1: away because I hadn't seen it for so long. The 347 00:19:24,200 --> 00:19:27,000 Speaker 1: CDC says only sixty two percent of the country is 348 00:19:27,000 --> 00:19:33,480 Speaker 1: fully vaccinated. We're still six just thirty five people have 349 00:19:33,520 --> 00:19:35,679 Speaker 1: received a booster shop. We thought we'd be way beyond 350 00:19:35,720 --> 00:19:39,879 Speaker 1: six by now. And it informs the whole debate happening 351 00:19:39,880 --> 00:19:45,080 Speaker 1: around the President's vaccine or test mandate the Ocean rule 352 00:19:45,119 --> 00:19:47,440 Speaker 1: that came before the Supreme Court today. It would require 353 00:19:47,440 --> 00:19:51,400 Speaker 1: companies with a hundred employees or more to mandate vaccines 354 00:19:51,520 --> 00:19:54,879 Speaker 1: or get regular testing right for employees. The challenge by 355 00:19:54,920 --> 00:19:59,359 Speaker 1: twenty six business groups is led by the National Federation 356 00:19:59,480 --> 00:20:03,600 Speaker 1: of in Pendent Business. They say OSHA is overstepping its authority, 357 00:20:03,680 --> 00:20:07,320 Speaker 1: basically in part because Congress did not authorize the agency 358 00:20:07,320 --> 00:20:10,639 Speaker 1: to do this. Scott Keller is an attorney for the Federation. 359 00:20:10,720 --> 00:20:12,959 Speaker 1: Here he is in an exchange earlier today with Justice 360 00:20:13,040 --> 00:20:16,760 Speaker 1: Sonia Sotomayor. Congress would have to clearly state in a 361 00:20:16,840 --> 00:20:20,879 Speaker 1: statute if it wanted to give an occupational health agency 362 00:20:21,000 --> 00:20:24,160 Speaker 1: the power to require employees to get certain medical treatment. 363 00:20:24,200 --> 00:20:26,600 Speaker 1: It's one thing to say there's no requirement here. It's 364 00:20:26,640 --> 00:20:31,760 Speaker 1: not a vaccine mandate. It's something totally different. And I 365 00:20:31,800 --> 00:20:35,720 Speaker 1: don't know how much clearer than sixty one Congress could 366 00:20:35,760 --> 00:20:41,040 Speaker 1: have been. It charges OSHA with developing innovative methods, six 367 00:20:41,119 --> 00:20:46,760 Speaker 1: niques and approaches to dealing with occupational safety, occupational safety 368 00:20:46,760 --> 00:20:50,160 Speaker 1: and health issues. I don't know how much clearer you 369 00:20:50,200 --> 00:20:53,399 Speaker 1: can be if you're Congress getting to the heart of 370 00:20:53,400 --> 00:20:55,600 Speaker 1: the issue here, according to sum And we bring in 371 00:20:55,640 --> 00:20:59,400 Speaker 1: Bloomberg Supreme Court reporter Greg Store to talk this out. Greg, 372 00:20:59,400 --> 00:21:01,040 Speaker 1: thank you for warning us. It's great to have you 373 00:21:01,080 --> 00:21:02,959 Speaker 1: back here. As I read through your piece, it's important 374 00:21:03,000 --> 00:21:06,000 Speaker 1: to remind people there are two different rules here. Right. 375 00:21:06,040 --> 00:21:09,240 Speaker 1: One is the employer rule. This is for private employers, 376 00:21:09,600 --> 00:21:12,199 Speaker 1: and there's a separate rule that would require shots for 377 00:21:12,280 --> 00:21:15,840 Speaker 1: workers in nursing homes or other facilities as you write, 378 00:21:15,840 --> 00:21:18,879 Speaker 1: that receive Medicare and Medicaid payments from the government. But 379 00:21:18,920 --> 00:21:22,000 Speaker 1: this will be a single ruling, Well, we don't know 380 00:21:22,080 --> 00:21:24,560 Speaker 1: for sure, and it could well be two rulings. They 381 00:21:24,600 --> 00:21:27,720 Speaker 1: are two very different cases. Two different statutes that govern 382 00:21:27,800 --> 00:21:30,560 Speaker 1: the agencies that issue the rules, So so we might 383 00:21:30,600 --> 00:21:34,160 Speaker 1: get two different rulings that separate. Group twenty seven states 384 00:21:34,240 --> 00:21:36,880 Speaker 1: challenging the Oshia rules state it interferes with states rights 385 00:21:37,359 --> 00:21:39,680 Speaker 1: as well. This is the one led by Ohio with 386 00:21:39,800 --> 00:21:42,919 Speaker 1: states rights to make their own vaccine policies. You know, 387 00:21:42,960 --> 00:21:45,639 Speaker 1: at one point, we've been talking about this for so long, Greg, 388 00:21:45,680 --> 00:21:47,520 Speaker 1: I think some people think this is already an effect, 389 00:21:47,520 --> 00:21:50,119 Speaker 1: actually because some companies have gone ahead and done this 390 00:21:50,240 --> 00:21:54,760 Speaker 1: on their own. But what is the actual question that 391 00:21:55,000 --> 00:21:59,080 Speaker 1: the justices are seeking to answer here? The actual question 392 00:21:59,240 --> 00:22:02,600 Speaker 1: is whether this law can or whether this rule can 393 00:22:02,680 --> 00:22:09,280 Speaker 1: go into effect, whether OSHA can start to enforce this 394 00:22:09,480 --> 00:22:13,880 Speaker 1: rule against companies that aren't moving to either get their 395 00:22:13,920 --> 00:22:17,480 Speaker 1: employees vaccinated or require that they either get vaccinated or 396 00:22:17,840 --> 00:22:21,840 Speaker 1: or get regular tests and wear masks in the workplace. 397 00:22:22,600 --> 00:22:26,520 Speaker 1: Right now, that is optional for companies. Some companies, as 398 00:22:26,520 --> 00:22:29,960 Speaker 1: you said, do that. There are still many many companies 399 00:22:30,000 --> 00:22:32,800 Speaker 1: that don't. And the reason the business groups are challenging this, 400 00:22:32,880 --> 00:22:36,199 Speaker 1: as they say it would be very expensive and burdensome, 401 00:22:36,600 --> 00:22:39,440 Speaker 1: and we cause a lot of workers to quit. Conservative 402 00:22:39,480 --> 00:22:43,680 Speaker 1: Justice is skeptical. The heart of your story yeah, very 403 00:22:43,720 --> 00:22:45,879 Speaker 1: much so, and then includes the Chief Justice John Roberts, 404 00:22:45,880 --> 00:22:48,960 Speaker 1: who we often think of as being somewhere in the middle, 405 00:22:49,000 --> 00:22:52,760 Speaker 1: but he is, of course a Republican appointee and generally 406 00:22:52,760 --> 00:22:56,919 Speaker 1: conservative UH person who who doesn't believe the federal government 407 00:22:56,960 --> 00:23:00,600 Speaker 1: should exceed its authority. And that's the core issue here 408 00:23:00,640 --> 00:23:05,480 Speaker 1: is whether Congress gave OSHA in one case, and CMSs 409 00:23:05,520 --> 00:23:08,439 Speaker 1: Center for Medicare and Medicaid UH in the other case, 410 00:23:08,840 --> 00:23:12,679 Speaker 1: whether Congress gave those two agencies the authority to issue 411 00:23:12,680 --> 00:23:15,440 Speaker 1: this sort of thing. UH. In both cases, they're kind 412 00:23:15,440 --> 00:23:19,600 Speaker 1: of broadly worded statutes, especially broad broadly worded in the 413 00:23:19,600 --> 00:23:24,760 Speaker 1: case of OSHA, and the conservative justices have a tendency 414 00:23:24,880 --> 00:23:28,639 Speaker 1: not to want federal agencies to to overstep their bounds. 415 00:23:28,800 --> 00:23:31,800 Speaker 1: A lot of questions about enforcement today, Greg, how would 416 00:23:31,800 --> 00:23:37,159 Speaker 1: that be handled well? OSHA UM would be says it 417 00:23:37,200 --> 00:23:44,880 Speaker 1: wouldn't actually start um issuing citations to employers until February. UH. 418 00:23:45,320 --> 00:23:48,919 Speaker 1: The the business groups say would be very difficult for 419 00:23:48,960 --> 00:23:52,040 Speaker 1: them to come up with plans to make sure that 420 00:23:52,080 --> 00:23:54,719 Speaker 1: they're meeting the requirement that they have, you know, testing 421 00:23:54,720 --> 00:23:57,360 Speaker 1: procedures in place for people who don't want to get 422 00:23:57,440 --> 00:24:03,680 Speaker 1: vaccinated that they have systems for making sure that, uh, 423 00:24:03,720 --> 00:24:08,119 Speaker 1: that for verifying that people have gotten their vaccines. Um. 424 00:24:08,160 --> 00:24:11,200 Speaker 1: That's one of the issues in the cases that until 425 00:24:11,240 --> 00:24:13,760 Speaker 1: this starts to go into effect, it's hard to say 426 00:24:14,320 --> 00:24:17,040 Speaker 1: exactly how burdensome it will be, and of course, once 427 00:24:17,080 --> 00:24:20,760 Speaker 1: it goes into effect, the damage if if that's how 428 00:24:20,800 --> 00:24:23,240 Speaker 1: you view this has already been done. Would there be 429 00:24:23,240 --> 00:24:25,920 Speaker 1: like a spot inspection though, or something, Hey, osious, here, 430 00:24:26,320 --> 00:24:29,359 Speaker 1: grab your vax cards, or would companies do required to 431 00:24:29,400 --> 00:24:33,600 Speaker 1: submit that data by by a certain deadline. You know, 432 00:24:33,640 --> 00:24:35,480 Speaker 1: I'm gonna have to duck that question because I don't 433 00:24:35,600 --> 00:24:38,960 Speaker 1: fully know the answer. It may not be determined yet. Um. Interesting, 434 00:24:38,960 --> 00:24:40,600 Speaker 1: By the way, the irony is not lost on me 435 00:24:40,680 --> 00:24:42,720 Speaker 1: that the two lawyers opposing the Biden rules, as you 436 00:24:42,760 --> 00:24:46,800 Speaker 1: point out, Solicitor General from Ohio Solicitor General from Louisiana, 437 00:24:46,880 --> 00:24:51,080 Speaker 1: both were on the phone today because they have COVID. Yeah, 438 00:24:51,080 --> 00:24:53,960 Speaker 1: the court has a rule that lawyers arguing are supposed 439 00:24:54,000 --> 00:24:57,920 Speaker 1: to take a COVID test the day before a PCR test. UM, 440 00:24:58,280 --> 00:25:01,880 Speaker 1: and both of those lawyers did. The lawyer from Ohio, 441 00:25:01,920 --> 00:25:07,520 Speaker 1: the solicitor general there apparently tested positive back closer to Christmas. Uh, 442 00:25:07,520 --> 00:25:10,600 Speaker 1: and a supposed person said that, uh, you know, he's 443 00:25:10,600 --> 00:25:15,200 Speaker 1: still tested positive yesterday and Louisiana. They didn't explicitly say 444 00:25:15,240 --> 00:25:16,920 Speaker 1: that's what happened, that there was a positive test, but 445 00:25:16,960 --> 00:25:19,480 Speaker 1: they did say that the lawyer didn't take part because 446 00:25:19,520 --> 00:25:22,960 Speaker 1: of the courts COVID protocols. Okay, got you. At one point, 447 00:25:23,000 --> 00:25:25,840 Speaker 1: Justice Alito today was asking, like, God, we've got hundreds 448 00:25:25,840 --> 00:25:28,480 Speaker 1: of documents here, all this business. Can you at least 449 00:25:28,480 --> 00:25:30,879 Speaker 1: give us a few days to consider this. I figured 450 00:25:30,920 --> 00:25:32,680 Speaker 1: it would be at least a few days. Greg, when 451 00:25:32,760 --> 00:25:35,080 Speaker 1: do you expect to find out? Well, it's a it's 452 00:25:35,080 --> 00:25:37,720 Speaker 1: a good question, and I'm certainly wondering whether we could 453 00:25:37,760 --> 00:25:40,719 Speaker 1: even get something as early as today. One thing Justice 454 00:25:40,760 --> 00:25:44,280 Speaker 1: Alito was talking about was an administrative stay, which is 455 00:25:44,320 --> 00:25:47,119 Speaker 1: designed to be um, hey, we're not you know, saying 456 00:25:47,200 --> 00:25:48,840 Speaker 1: one way or the other which way we're leading, but 457 00:25:48,840 --> 00:25:51,600 Speaker 1: we're just holding everything in place while we have more 458 00:25:51,640 --> 00:25:55,360 Speaker 1: time to to think this through. Uh that that it's 459 00:25:55,520 --> 00:25:59,040 Speaker 1: at least a possibility that he raised during the argument. Uh. 460 00:25:59,080 --> 00:26:01,480 Speaker 1: And you know, Kevi, indeed, the court as sort of 461 00:26:01,520 --> 00:26:03,720 Speaker 1: scene as a case in the argument is leading towards 462 00:26:03,720 --> 00:26:06,399 Speaker 1: blocking this rule. There may be a real incentive among 463 00:26:06,480 --> 00:26:10,840 Speaker 1: the conservative justice to go ahead and do that quickly. Fascinating. 464 00:26:10,920 --> 00:26:12,760 Speaker 1: Is there a reason for that though? Was there more? 465 00:26:12,800 --> 00:26:15,320 Speaker 1: Are there more documents than usual to go through? Here 466 00:26:15,359 --> 00:26:20,000 Speaker 1: are more issues to considers a typical case. This whole 467 00:26:20,000 --> 00:26:23,919 Speaker 1: case is unusual. The the Ocean rule is uh, you know, 468 00:26:23,960 --> 00:26:27,120 Speaker 1: there's there are tens of thousands of pages of administrative 469 00:26:27,160 --> 00:26:29,359 Speaker 1: record that that they could need to go through. But 470 00:26:29,400 --> 00:26:32,199 Speaker 1: this happened quickly. This is not a case when they 471 00:26:32,200 --> 00:26:35,800 Speaker 1: had the benefit of full briefing they consider a case. 472 00:26:35,840 --> 00:26:37,720 Speaker 1: It's really just a matter of a couple of weeks. 473 00:26:37,920 --> 00:26:40,320 Speaker 1: Great story, do a great job as always. Thank you 474 00:26:40,359 --> 00:26:42,840 Speaker 1: for being with us. Bloomberg Supreme Court reporter with us 475 00:26:42,880 --> 00:26:47,960 Speaker 1: on sound On. I'm Joe Matthew. This is Bloomberg. You're 476 00:26:48,000 --> 00:26:52,040 Speaker 1: listening to Bloomberg. You sound on with Joe Matthew on 477 00:26:52,240 --> 00:26:58,479 Speaker 1: Bloomberg Radio. Osha says the vaccine or test mandate that 478 00:26:58,600 --> 00:27:01,120 Speaker 1: was before the Supreme Courts would have saved more than 479 00:27:01,320 --> 00:27:05,960 Speaker 1: six thousand five workers lives over the course of six 480 00:27:06,000 --> 00:27:09,040 Speaker 1: months if it had been implemented, and as we heard 481 00:27:09,040 --> 00:27:11,679 Speaker 1: from Bloomberg's Gregg Store, a few minutes ago. The conservative 482 00:27:11,720 --> 00:27:15,360 Speaker 1: justices were skeptical today of this requirement. Hard to tell 483 00:27:15,400 --> 00:27:18,320 Speaker 1: which way the court goes, though either way will have 484 00:27:18,440 --> 00:27:23,400 Speaker 1: huge implications for the Biden administration and largely for Democrats 485 00:27:23,600 --> 00:27:26,320 Speaker 1: in a mid term election year. Let's reassemble the panel 486 00:27:26,400 --> 00:27:30,919 Speaker 1: for more with Bloomberg Politics contributors Jeanie Shenzano and Rick Davis. Rick, 487 00:27:30,960 --> 00:27:35,399 Speaker 1: could you see this court upholding this rule? I think 488 00:27:35,480 --> 00:27:38,960 Speaker 1: it's it's likely not to. They've expressed a lot of 489 00:27:39,000 --> 00:27:41,640 Speaker 1: skepticism around it. I would say the one thing that's 490 00:27:41,680 --> 00:27:43,800 Speaker 1: probably in the back of their minds, if not the 491 00:27:43,800 --> 00:27:46,600 Speaker 1: forefront of their minds, is what you just mentioned, which is, 492 00:27:47,640 --> 00:27:50,480 Speaker 1: how do you get around the fact that, um, it 493 00:27:50,520 --> 00:27:55,720 Speaker 1: looks like if they rule against the rules by ocean 494 00:27:55,760 --> 00:28:00,320 Speaker 1: and and Medicare Medicaid, that they're actually not doing what 495 00:28:00,400 --> 00:28:03,200 Speaker 1: they can to avoid loss of life. And I think 496 00:28:03,280 --> 00:28:05,320 Speaker 1: that may be one of the most compelling arguments the 497 00:28:05,359 --> 00:28:09,360 Speaker 1: government made today. Genie, it is something to consider here. 498 00:28:09,440 --> 00:28:13,040 Speaker 1: There They're gonna be wide ranging implications either way this happens. 499 00:28:13,080 --> 00:28:17,439 Speaker 1: If the court does strike this down, what does that 500 00:28:17,480 --> 00:28:20,520 Speaker 1: mean for the Biden administration's attempt to beat this virus 501 00:28:21,440 --> 00:28:24,000 Speaker 1: it's going to have a big negative impact on the 502 00:28:24,040 --> 00:28:27,280 Speaker 1: administration and also most importantly on the loss of life 503 00:28:27,280 --> 00:28:30,560 Speaker 1: and people getting ill and potentially the economy as a whole. 504 00:28:31,080 --> 00:28:33,720 Speaker 1: That said, this is the same court that has upheld 505 00:28:33,840 --> 00:28:38,360 Speaker 1: state vaccine mandates almost across the board since God began. 506 00:28:38,800 --> 00:28:41,720 Speaker 1: So the real issue in this case was number one, 507 00:28:41,720 --> 00:28:44,280 Speaker 1: about how broad this mandate was. You know, Osha, I 508 00:28:44,320 --> 00:28:46,920 Speaker 1: think it's a little different than Medicare Medicaid one, as 509 00:28:46,960 --> 00:28:49,160 Speaker 1: Gregg talked about. But the real question here is what 510 00:28:49,200 --> 00:28:51,800 Speaker 1: the court often has to think about, which is who 511 00:28:51,880 --> 00:28:55,440 Speaker 1: gets to decide. They believe the police powers in this 512 00:28:55,520 --> 00:28:59,040 Speaker 1: country reside at the state level. When the state makes 513 00:28:59,080 --> 00:29:02,000 Speaker 1: these mandates, they're likely to upheld them. But because they 514 00:29:02,080 --> 00:29:04,800 Speaker 1: feel that this was broadly issued by the federal government, 515 00:29:05,120 --> 00:29:07,360 Speaker 1: that's where the rub is for these conservatives, and I 516 00:29:07,360 --> 00:29:10,480 Speaker 1: think that's why they are probably going to knock it 517 00:29:10,600 --> 00:29:13,240 Speaker 1: down and say, if you want these mandates, that's fine, 518 00:29:13,560 --> 00:29:15,760 Speaker 1: get them through the states. Well, is there is there 519 00:29:15,760 --> 00:29:18,440 Speaker 1: a world in which the Biden administration goes back to 520 00:29:18,520 --> 00:29:20,840 Speaker 1: Congress for some legislation on this? Rick or am I 521 00:29:21,000 --> 00:29:23,440 Speaker 1: just being funding now? You know? I think there could 522 00:29:23,440 --> 00:29:25,840 Speaker 1: be an attempt to try and if there's if the 523 00:29:25,840 --> 00:29:28,240 Speaker 1: court rules against him, to go back to Congress and say, okay, 524 00:29:28,280 --> 00:29:32,200 Speaker 1: you know, the court said we needed explicit congressional approval 525 00:29:32,240 --> 00:29:36,320 Speaker 1: for this, the term you know, vaccine mandates needs to 526 00:29:36,360 --> 00:29:38,720 Speaker 1: be in the law. And and and I can see 527 00:29:38,720 --> 00:29:40,480 Speaker 1: why they would want to fight that fight. It's a 528 00:29:40,600 --> 00:29:42,800 Speaker 1: it's probably a positive fight for them, you know, with 529 00:29:42,880 --> 00:29:45,720 Speaker 1: the public. So sure, I think that that could be 530 00:29:45,760 --> 00:29:49,720 Speaker 1: one of the results of this very easily in terms 531 00:29:49,800 --> 00:29:52,640 Speaker 1: of the mid term election cycle. Here though, and just 532 00:29:52,680 --> 00:29:55,640 Speaker 1: the Republican narrative genie about Democrats here trying to tell 533 00:29:55,640 --> 00:29:59,360 Speaker 1: you how to live your life. Either way, it seems 534 00:29:59,360 --> 00:30:02,280 Speaker 1: like republic and candidates can get fuel out of this. 535 00:30:02,480 --> 00:30:05,320 Speaker 1: If it's upheld, you say, okay, look here, here you 536 00:30:05,360 --> 00:30:09,120 Speaker 1: go again with liberals trying to run your life. Another overbearing, 537 00:30:09,960 --> 00:30:13,400 Speaker 1: another overreach in the name of COVID. If it's struck down, 538 00:30:14,040 --> 00:30:16,479 Speaker 1: Republican candidates can say we told you this was an 539 00:30:16,480 --> 00:30:19,400 Speaker 1: American Now look at Joe Biden. He can't even get 540 00:30:19,440 --> 00:30:22,960 Speaker 1: this past the Supreme Court here. Doesn't this end up 541 00:30:23,920 --> 00:30:27,440 Speaker 1: with a positive narrative for Republicans either way? I think 542 00:30:27,440 --> 00:30:29,040 Speaker 1: they're going to try to make it that way. But 543 00:30:29,080 --> 00:30:31,680 Speaker 1: I think there is an important argument for the Democrats 544 00:30:31,680 --> 00:30:34,720 Speaker 1: and the Biden administration to make, and that is our 545 00:30:34,840 --> 00:30:37,160 Speaker 1: number one claim when we came into office was we 546 00:30:37,160 --> 00:30:39,520 Speaker 1: were going to beat this pandemic. We were going to 547 00:30:39,680 --> 00:30:42,240 Speaker 1: keep you alive. We were going to get the vaccine through, 548 00:30:42,280 --> 00:30:44,440 Speaker 1: we were going to get the testing done. And we 549 00:30:44,520 --> 00:30:47,920 Speaker 1: are doing that despite being thwarted at every step, including 550 00:30:47,960 --> 00:30:52,000 Speaker 1: by a very conservative Trump now led Supreme Court. So 551 00:30:52,320 --> 00:30:54,600 Speaker 1: they can respond to that, and I think it works 552 00:30:54,600 --> 00:30:59,120 Speaker 1: to democrats advantage. Actually, just as the case of potentially 553 00:30:59,160 --> 00:31:01,560 Speaker 1: when this core, if it sides with Mississippi and the 554 00:31:01,600 --> 00:31:04,760 Speaker 1: abortion case, these are things that will frighten Democrats and 555 00:31:04,800 --> 00:31:07,440 Speaker 1: get Democrats out to vote in a year they aren't 556 00:31:07,440 --> 00:31:10,320 Speaker 1: really going to be energized to vote, So Democrats can 557 00:31:10,440 --> 00:31:12,520 Speaker 1: use this as well. Which way does it cut in 558 00:31:12,520 --> 00:31:15,440 Speaker 1: a midsterm election cycle? Rick, If you're a Republican candidate, 559 00:31:15,440 --> 00:31:19,640 Speaker 1: which outcome helps you? You know? I it's hard to tell. Um. 560 00:31:20,000 --> 00:31:23,800 Speaker 1: I mean, the politics around COVID has been swirling around 561 00:31:23,920 --> 00:31:27,280 Speaker 1: on a partisan basis. Uh. I think that it's just 562 00:31:27,360 --> 00:31:31,160 Speaker 1: a it could be a base issue right Republicans, Uh, 563 00:31:31,160 --> 00:31:34,800 Speaker 1: in a primary cycle, will will want to obviously cater 564 00:31:34,880 --> 00:31:37,920 Speaker 1: to the base, and the base wants UH to not 565 00:31:38,040 --> 00:31:40,440 Speaker 1: have these mandates. But I would say too. Part of 566 00:31:40,480 --> 00:31:43,880 Speaker 1: what complicates this as many companies have already implemented this right, 567 00:31:43,960 --> 00:31:46,720 Speaker 1: companies can do whatever they want with their employees along 568 00:31:46,760 --> 00:31:49,760 Speaker 1: this line and uh and and so it's not a 569 00:31:49,760 --> 00:31:54,760 Speaker 1: clear cut case of whether or not the public acceptance 570 00:31:54,800 --> 00:31:59,160 Speaker 1: of this is is political because big companies like United 571 00:31:59,160 --> 00:32:02,840 Speaker 1: Airlines and others aboard implemented many of these facts mandates. 572 00:32:02,880 --> 00:32:06,080 Speaker 1: So I think it's actually a little confusing. I can't 573 00:32:06,080 --> 00:32:10,080 Speaker 1: imagine there's a win loss politically at a primary level, 574 00:32:10,560 --> 00:32:13,320 Speaker 1: either in the Democratic or the Republican parties. And too 575 00:32:13,320 --> 00:32:16,880 Speaker 1: soon to tell. I think with the scourge of the vaccines, 576 00:32:17,000 --> 00:32:19,760 Speaker 1: are scourge of the COVID still out there, where will 577 00:32:19,800 --> 00:32:21,920 Speaker 1: it be in November? Is going to be on top 578 00:32:21,960 --> 00:32:24,600 Speaker 1: of people's minds as it is today? I don't know. Yeah, 579 00:32:24,680 --> 00:32:28,160 Speaker 1: there's also the matter of defining vaccinated at this point. 580 00:32:28,200 --> 00:32:30,400 Speaker 1: You now we're already talking about whether we're gonna need 581 00:32:30,520 --> 00:32:34,240 Speaker 1: another booster and have the requirement of four shots. Uh. 582 00:32:34,360 --> 00:32:38,680 Speaker 1: Some vaccine requirements for restaurants, for instance, will will require 583 00:32:38,880 --> 00:32:42,000 Speaker 1: three shots evidence of a booster. I mean, at this point, 584 00:32:42,040 --> 00:32:44,800 Speaker 1: doesn't all this need to be written in it? Does? 585 00:32:44,920 --> 00:32:47,480 Speaker 1: I will tell you this, to me is the biggest challenger, 586 00:32:47,520 --> 00:32:50,520 Speaker 1: one of the biggest challenges the administration is facing right now, 587 00:32:50,560 --> 00:32:53,240 Speaker 1: and that are the that is, the confusing messages that 588 00:32:53,280 --> 00:32:56,160 Speaker 1: are coming out, as you mentioned, one example being what 589 00:32:56,240 --> 00:32:59,400 Speaker 1: constitutes being vaccinated? Is it now? Three? Are we talking for? 590 00:33:00,160 --> 00:33:02,280 Speaker 1: Types of masks are we supposed to be using? When 591 00:33:02,520 --> 00:33:04,800 Speaker 1: do you have to get tested to be out of quarantine? 592 00:33:05,120 --> 00:33:07,600 Speaker 1: All of these questions swirling around, and of course the 593 00:33:07,640 --> 00:33:10,760 Speaker 1: c d c S communication efforts have been less than 594 00:33:10,840 --> 00:33:14,040 Speaker 1: stellar and the Biden administration really has got to get 595 00:33:14,080 --> 00:33:17,200 Speaker 1: their hands on that or because it is confusing, you 596 00:33:17,280 --> 00:33:20,000 Speaker 1: ask people what are the latest requirements and people throw 597 00:33:20,040 --> 00:33:23,040 Speaker 1: their hands up. Well, I wonder if you see a 598 00:33:23,080 --> 00:33:26,000 Speaker 1: different ruling coming down on on these two separate cases, 599 00:33:26,080 --> 00:33:29,240 Speaker 1: Rick one about private employers, which which might be a 600 00:33:29,240 --> 00:33:31,760 Speaker 1: little bit more clear when it comes to nursing homes 601 00:33:31,760 --> 00:33:34,520 Speaker 1: and facilities getting federal funding. Is that not a different 602 00:33:34,880 --> 00:33:37,600 Speaker 1: scenario to rule on. Well, there's certainly a long history 603 00:33:37,640 --> 00:33:43,960 Speaker 1: of the government, federal government requiring especially UH first responders 604 00:33:43,960 --> 00:33:46,120 Speaker 1: and others to adhere to certain rules because they do 605 00:33:46,160 --> 00:33:49,640 Speaker 1: accept Medicare and Medicaid funds. So I do think there's 606 00:33:49,720 --> 00:33:54,000 Speaker 1: much more of a link to UH legitimate federal role 607 00:33:54,480 --> 00:33:57,240 Speaker 1: UH in in in that part of the ruling than 608 00:33:57,480 --> 00:34:01,800 Speaker 1: than exists obviously with the general a workforce of UH 609 00:34:01,920 --> 00:34:06,200 Speaker 1: companies over a hundred employees. So I think that the 610 00:34:06,600 --> 00:34:09,200 Speaker 1: court could split the baby on this one and and 611 00:34:09,200 --> 00:34:11,839 Speaker 1: and inside with the government on the on the use 612 00:34:12,040 --> 00:34:16,799 Speaker 1: of personnel in Medicare and Medicaid funded establishments. Plus, these 613 00:34:16,840 --> 00:34:19,759 Speaker 1: are higher risk places like nursing homes and things like this, 614 00:34:20,120 --> 00:34:22,520 Speaker 1: so they can avoid looking like they're they don't care 615 00:34:22,560 --> 00:34:26,480 Speaker 1: about the health care or death rates associated in those places, 616 00:34:26,520 --> 00:34:30,879 Speaker 1: and and could actually UH and uphold the mandates there. 617 00:34:31,680 --> 00:34:33,719 Speaker 1: Spending time with Rick and Genie on a Friday, you 618 00:34:33,760 --> 00:34:35,480 Speaker 1: can go ahead and pour the beverage. We only have 619 00:34:35,520 --> 00:34:37,520 Speaker 1: a couple of minutes left here to the fastest hour 620 00:34:37,560 --> 00:34:39,840 Speaker 1: in politics, and then we're on the weekend. If I 621 00:34:39,840 --> 00:34:42,360 Speaker 1: can say that out loud, One of the big stops 622 00:34:42,360 --> 00:34:45,000 Speaker 1: in the road next week will be the confirmation hearings 623 00:34:45,600 --> 00:34:48,600 Speaker 1: UH for J. Powell, Lale, Brainerd Genie. I don't know 624 00:34:48,640 --> 00:34:50,839 Speaker 1: how newsy this is going to be, since they seem 625 00:34:50,880 --> 00:34:54,920 Speaker 1: to be widely believed to be confirmed. But does it 626 00:34:55,000 --> 00:34:56,920 Speaker 1: lead to a whole other conversation and a lot of 627 00:34:56,960 --> 00:34:58,920 Speaker 1: questions about the seats yet to be filled. As we 628 00:34:58,920 --> 00:35:02,160 Speaker 1: discussed earlier, this very well could. I think it will 629 00:35:02,200 --> 00:35:04,960 Speaker 1: be newsy for everybody that listens to Bloomberg. They will 630 00:35:05,000 --> 00:35:07,040 Speaker 1: be fascinated to hear it. And I have to tell 631 00:35:07,080 --> 00:35:09,759 Speaker 1: you about as opposed to normal too. I have to 632 00:35:09,800 --> 00:35:12,480 Speaker 1: tell you I am really looking forward to the to 633 00:35:12,560 --> 00:35:16,280 Speaker 1: the conversations in terms of what the FEDS mandate should 634 00:35:16,320 --> 00:35:19,319 Speaker 1: be and when they are overstepping that. Obviously, with with 635 00:35:19,440 --> 00:35:22,359 Speaker 1: these two nominees, that's you know, we know where they 636 00:35:22,400 --> 00:35:24,760 Speaker 1: stand on some of this. But I as we go forward, 637 00:35:24,800 --> 00:35:27,200 Speaker 1: that's what I'm excited about. But I do think it's 638 00:35:27,239 --> 00:35:30,160 Speaker 1: going to raise questions about again, what did Brian mean 639 00:35:30,239 --> 00:35:32,320 Speaker 1: when he said shortly and when are we going to 640 00:35:32,400 --> 00:35:35,120 Speaker 1: get those not in those nominations, and you know, how 641 00:35:35,160 --> 00:35:38,640 Speaker 1: will how will they be received? Particularly you know, you 642 00:35:38,719 --> 00:35:41,760 Speaker 1: talk about somebody like Sarah bloom Raskin, and we haven't 643 00:35:41,800 --> 00:35:43,719 Speaker 1: talked about this yet, but of course there are the 644 00:35:43,800 --> 00:35:46,320 Speaker 1: politics of the fact that she is married to Jamie Raskin, 645 00:35:46,360 --> 00:35:49,360 Speaker 1: who led the impeachment against Donald Trump. So, you know, 646 00:35:49,400 --> 00:35:52,200 Speaker 1: a very qualified candidate, but it is you know, going 647 00:35:52,280 --> 00:35:55,440 Speaker 1: to be fascinated to hear how Republicans handle her nomination 648 00:35:55,520 --> 00:35:58,520 Speaker 1: if she is nominated. So do these hearings just become 649 00:35:58,560 --> 00:36:01,200 Speaker 1: a big interview session about the short list? Rick? You know, 650 00:36:01,280 --> 00:36:04,480 Speaker 1: I don't think so. I mean typically, Uh, it's you 651 00:36:04,520 --> 00:36:09,320 Speaker 1: don't normally see senators debating people who haven't yet been appointed. Uh. 652 00:36:09,400 --> 00:36:11,120 Speaker 1: They don't like to have egg on their face if 653 00:36:11,120 --> 00:36:13,800 Speaker 1: the appointment doesn't happen and they just wasted their five minutes. 654 00:36:14,040 --> 00:36:16,200 Speaker 1: I would say inflation is going to be the superstar 655 00:36:16,239 --> 00:36:19,960 Speaker 1: of this hearing, right, it's not up for confirmation, but 656 00:36:20,040 --> 00:36:23,280 Speaker 1: it's the topic that everybody cares about. And and every 657 00:36:23,280 --> 00:36:25,319 Speaker 1: senator I've talked to, that's all they want to talk 658 00:36:25,320 --> 00:36:27,880 Speaker 1: to these guys about, is what are you doing about inflation? 659 00:36:28,120 --> 00:36:29,680 Speaker 1: They're gonna give them their ideas I want to do 660 00:36:29,719 --> 00:36:32,000 Speaker 1: about inflation. They're gonna want to know what the administrations 661 00:36:32,080 --> 00:36:35,839 Speaker 1: doing the effects inflation and and and you're gonna hear 662 00:36:35,880 --> 00:36:38,160 Speaker 1: that word over and over and over again between now 663 00:36:38,160 --> 00:36:40,480 Speaker 1: and the midterm elections. Is this like on the level 664 00:36:40,520 --> 00:36:43,400 Speaker 1: of grandstanding recording a lot of midterm election ads or 665 00:36:43,520 --> 00:36:47,160 Speaker 1: or a more intellectual approach. Rick, all the above, intellectual 666 00:36:47,400 --> 00:36:51,359 Speaker 1: and campaign doesn't need to be mutually exclusive. Voting rights 667 00:36:51,400 --> 00:36:53,520 Speaker 1: also on the list for next week, President Biden will 668 00:36:53,560 --> 00:36:58,360 Speaker 1: travel to Georgia to make the case for voting rights reform. Genie, 669 00:36:58,360 --> 00:37:01,080 Speaker 1: we've talked this up and down already this week. Doesn't 670 00:37:01,120 --> 00:37:02,919 Speaker 1: see me as the votes to do that, to carve 671 00:37:02,960 --> 00:37:05,200 Speaker 1: out the filibuster to get it done. Can he change anything. 672 00:37:05,840 --> 00:37:07,640 Speaker 1: I don't know that he can change that, but it's 673 00:37:07,640 --> 00:37:10,360 Speaker 1: gonna be a big conversation. If this mid term is 674 00:37:10,400 --> 00:37:12,800 Speaker 1: about getting your base out, this is what the base 675 00:37:12,840 --> 00:37:14,600 Speaker 1: wants to hear about, and he's going to go down 676 00:37:14,600 --> 00:37:16,840 Speaker 1: to Georgia, the center of it all, and he's going 677 00:37:16,880 --> 00:37:18,480 Speaker 1: to fight for this. So I think it's going to 678 00:37:18,560 --> 00:37:21,200 Speaker 1: be an important speech by the President next week. You'll 679 00:37:21,200 --> 00:37:23,040 Speaker 1: hear it on Bloomberg. We'll talk about it here with 680 00:37:23,120 --> 00:37:26,840 Speaker 1: the panel. Great to spend another week with Rick and Genie, 681 00:37:27,000 --> 00:37:29,880 Speaker 1: our signature panel on Bloomberg. Sound on you guys, have 682 00:37:29,880 --> 00:37:32,399 Speaker 1: a great weekend as always, and we'll meet you back 683 00:37:32,440 --> 00:37:35,680 Speaker 1: here on Monday on the fastest hour in politics. Could 684 00:37:35,680 --> 00:37:37,839 Speaker 1: be a newsy week Next week We're here either way 685 00:37:37,880 --> 00:37:40,080 Speaker 1: for you and look forward to seeing you. Then enjoy 686 00:37:40,120 --> 00:37:42,799 Speaker 1: your weekend. We'll check traffic and markets on the way. 687 00:37:42,840 --> 00:37:44,520 Speaker 1: I'm Joe Matthew. This is Bloomberg.