1
00:00:01,680 --> 00:00:06,200
Speaker 1: Now from our nation's capital. This is Floomberg sound On.

2
00:00:07,160 --> 00:00:10,400
Speaker 1: I have said since January six that I will do

3
00:00:10,440 --> 00:00:13,800
Speaker 1: whatever it takes to ensure Donald Trump is never again

4
00:00:13,960 --> 00:00:17,440
Speaker 1: anywhere near the Oval Office. And I mean it's Floomberg

5
00:00:17,640 --> 00:00:21,960
Speaker 1: sound on politics, policy and perspective from DC's top names.

6
00:00:22,480 --> 00:00:25,360
Speaker 1: If there was an invitation to participate, I would consider it.

7
00:00:25,680 --> 00:00:28,800
Speaker 1: You will be accountable to us, you will answer to us,

8
00:00:28,840 --> 00:00:31,440
Speaker 1: and you will do what is in our best interests.

9
00:00:31,480 --> 00:00:36,640
Speaker 1: And if you don't, we will fire you. Bloomberg Sound

10
00:00:36,680 --> 00:00:41,880
Speaker 1: On with Joe Matthew on Bloomberg Radio. Well, the FED

11
00:00:41,960 --> 00:00:44,440
Speaker 1: says eventually they're going to have to slow down on

12
00:00:44,560 --> 00:00:47,640
Speaker 1: interest rate increases. We'll have to talk about when that is.

13
00:00:48,000 --> 00:00:51,720
Speaker 1: Congresswoman Liz Cheney won't rule out a presidential run after

14
00:00:51,800 --> 00:00:56,640
Speaker 1: her anti Trump primary loss. The CDC also acknowledged big

15
00:00:56,640 --> 00:01:00,720
Speaker 1: mistakes in their coronavirus response. I'm Jack Fitzpatrick standing in

16
00:01:00,760 --> 00:01:04,280
Speaker 1: today for Joe Matthew. We're gonna talk to Congressman French Hill,

17
00:01:04,560 --> 00:01:07,200
Speaker 1: a Republican on the Financial Services Committee in the House,

18
00:01:07,200 --> 00:01:10,120
Speaker 1: about the state of the economy. Will ask Michael Steele,

19
00:01:10,240 --> 00:01:13,399
Speaker 1: the former RNC chairman, about the state of the Republican

20
00:01:13,480 --> 00:01:17,160
Speaker 1: Party and Bloomberg Politics contributors Rick Davis and Jennie shen

21
00:01:17,240 --> 00:01:20,440
Speaker 1: Zano will help me analyze the top news of the day. Well,

22
00:01:20,520 --> 00:01:25,520
Speaker 1: the minutes from the FEDS late July meeting July say

23
00:01:25,600 --> 00:01:28,280
Speaker 1: they're going to keep increasing the policy rate and then

24
00:01:28,319 --> 00:01:31,840
Speaker 1: slow down at some point and reassess. We're joined now

25
00:01:31,880 --> 00:01:35,920
Speaker 1: by Congressman French Hill, Republican from Arkansas. Congressman is on

26
00:01:35,959 --> 00:01:40,119
Speaker 1: the Financial Services Committee, a great go to for banking issues. Congressman,

27
00:01:40,240 --> 00:01:42,840
Speaker 1: very happy to have you on here. The first basic

28
00:01:42,920 --> 00:01:45,400
Speaker 1: question about the Fed minutes that came out today, do

29
00:01:45,480 --> 00:01:48,760
Speaker 1: you read these as airing on either the hawkish or

30
00:01:48,840 --> 00:01:52,720
Speaker 1: devish side. Well, Jack, it's good to be with you.

31
00:01:52,800 --> 00:01:56,000
Speaker 1: I think they just reinforced that they're serious to get

32
00:01:56,080 --> 00:02:00,920
Speaker 1: back to focusing on price stability and if eating inflation.

33
00:02:01,440 --> 00:02:04,360
Speaker 1: I think that's the important mission that they have, and

34
00:02:04,400 --> 00:02:06,920
Speaker 1: I took the minutes to mean they're going to keep

35
00:02:06,920 --> 00:02:11,480
Speaker 1: at it. Uh. And look when we saw inflation still

36
00:02:11,560 --> 00:02:15,360
Speaker 1: high at eight point five per cent. We've seen reports

37
00:02:15,400 --> 00:02:19,280
Speaker 1: of higher economic output in some sectors of the economy,

38
00:02:19,480 --> 00:02:24,840
Speaker 1: slower in others, but nonetheless high inflation for inputt points

39
00:02:24,880 --> 00:02:28,600
Speaker 1: and also on salaries and compensation still going up, So

40
00:02:28,680 --> 00:02:32,440
Speaker 1: I took it as they're staying on mission for their

41
00:02:32,520 --> 00:02:37,440
Speaker 1: tightening plan. The minutes acknowledged a risk this is a quote,

42
00:02:37,440 --> 00:02:39,840
Speaker 1: a risk that the Committee could tighten the stand of

43
00:02:39,919 --> 00:02:44,760
Speaker 1: policy by more than necessary to restore price stability. Uh,

44
00:02:44,800 --> 00:02:47,560
Speaker 1: what are the risks at this point of a recession.

45
00:02:49,800 --> 00:02:52,639
Speaker 1: I think the data is very mixed. I don't see

46
00:02:52,720 --> 00:02:58,120
Speaker 1: that risk fully apparent yet. I think we're getting mixed

47
00:02:58,160 --> 00:03:01,520
Speaker 1: reports on hiring still very a strong in most sectors

48
00:03:01,560 --> 00:03:04,120
Speaker 1: of the economy, and yet we had the the week

49
00:03:04,200 --> 00:03:07,520
Speaker 1: first and second quarter, but early data here in the

50
00:03:07,600 --> 00:03:11,000
Speaker 1: third quarter continues to show some signs of growth. And

51
00:03:11,080 --> 00:03:14,400
Speaker 1: that's why you have growth, you have decent employment numbers,

52
00:03:14,880 --> 00:03:17,600
Speaker 1: you have high inflation. And that's why my instinct is

53
00:03:17,720 --> 00:03:21,040
Speaker 1: that they'll continue to press on both with shrinking the

54
00:03:21,040 --> 00:03:24,280
Speaker 1: balance sheet and a rate increase in the next month.

55
00:03:24,800 --> 00:03:27,200
Speaker 1: And what is your view on the timing of this?

56
00:03:27,320 --> 00:03:30,560
Speaker 1: These minutes were a bit vague. The phrase they used

57
00:03:31,000 --> 00:03:34,000
Speaker 1: was it would become appropriate at some point to slow

58
00:03:34,160 --> 00:03:37,520
Speaker 1: the pace of policy rate increases. What what is at

59
00:03:37,600 --> 00:03:41,600
Speaker 1: some point to you? At some point to me, when

60
00:03:41,600 --> 00:03:46,040
Speaker 1: we start seeing sharply lower inflation expectations. Even in the

61
00:03:46,080 --> 00:03:50,880
Speaker 1: survey data last week when you looked at inflationary expectations

62
00:03:50,920 --> 00:03:53,360
Speaker 1: that was still at six point two percent for one

63
00:03:53,440 --> 00:03:57,440
Speaker 1: year out. That's three times uh the FED target of

64
00:03:57,520 --> 00:04:01,800
Speaker 1: two percent. Actual inflation still in at four times the

65
00:04:01,800 --> 00:04:04,640
Speaker 1: fed's target rate. So that's what makes me think that

66
00:04:04,760 --> 00:04:08,520
Speaker 1: they'll stay in a tightening mode here over the next

67
00:04:09,720 --> 00:04:11,960
Speaker 1: between now and the end of the year. Do you

68
00:04:12,040 --> 00:04:15,040
Speaker 1: have a history lesson for us? Should are there historical

69
00:04:15,120 --> 00:04:18,760
Speaker 1: parallels that you think they're looking at our ore? Is

70
00:04:18,800 --> 00:04:23,600
Speaker 1: it fair to see these are unprecedented times? Well, it's different.

71
00:04:23,600 --> 00:04:27,640
Speaker 1: We have stagflation, we have commodity price shots due to

72
00:04:27,960 --> 00:04:33,039
Speaker 1: the Biden administration's policies on fossil fuels and Russia's invasion

73
00:04:33,200 --> 00:04:37,240
Speaker 1: in Ukraine, which is impacted the food, fiber, and fuel

74
00:04:37,360 --> 00:04:40,520
Speaker 1: markets in a negative way. But we have this strong

75
00:04:40,680 --> 00:04:44,040
Speaker 1: employment market and we still have help wanted signs all

76
00:04:44,080 --> 00:04:47,160
Speaker 1: across the country. So it's a mixed message on that,

77
00:04:47,240 --> 00:04:51,719
Speaker 1: but it causes me to be biased toward higher rates,

78
00:04:51,839 --> 00:04:54,400
Speaker 1: and they don't. They're behind the curve jack. That's the

79
00:04:54,440 --> 00:04:57,240
Speaker 1: main point. The main history lesson here is that the

80
00:04:57,320 --> 00:05:00,679
Speaker 1: FED did not take the punch bowl away in time

81
00:05:00,680 --> 00:05:06,160
Speaker 1: to prevent embedded, stubborn inflationary expectations, and fiscal policy was

82
00:05:06,200 --> 00:05:10,200
Speaker 1: far too stimulative coming out of the pandemic. Right, Well,

83
00:05:10,440 --> 00:05:14,360
Speaker 1: so you mentioned the stimulative fiscal policy, fossil fuels, the

84
00:05:14,440 --> 00:05:18,560
Speaker 1: Russian invasion of Ukraine. Um, how much is a major

85
00:05:18,880 --> 00:05:22,080
Speaker 1: X factor? How much is there just confusion on what

86
00:05:22,279 --> 00:05:27,280
Speaker 1: supply constraints will exist due to the pandemic and international

87
00:05:27,360 --> 00:05:33,000
Speaker 1: responses to the pandemic. Well, we've seen container prices begin

88
00:05:33,160 --> 00:05:36,200
Speaker 1: to shrink. We've seen like you just had a news

89
00:05:36,279 --> 00:05:40,560
Speaker 1: report on some chip improvements via the deliveries of technology

90
00:05:40,600 --> 00:05:44,200
Speaker 1: projects projects. So I think that some of the supply

91
00:05:44,360 --> 00:05:48,919
Speaker 1: constraints that was related to the pandemic are healing themselves,

92
00:05:48,920 --> 00:05:52,000
Speaker 1: and so that will help be a counter to some

93
00:05:52,120 --> 00:05:55,719
Speaker 1: of these continued inflationary pressures on the compensation side and

94
00:05:55,800 --> 00:06:00,960
Speaker 1: sharp increases in in UM some issues like as I said,

95
00:06:01,120 --> 00:06:04,320
Speaker 1: food and fuel and fuel don't forget what fossil fuels

96
00:06:04,320 --> 00:06:07,839
Speaker 1: being such a critical input factor. I don't see that

97
00:06:08,400 --> 00:06:10,840
Speaker 1: uh falling and therefore you're going to continue to have

98
00:06:11,680 --> 00:06:15,040
Speaker 1: input costs much higher than they were a year ago. Okay, Now,

99
00:06:15,120 --> 00:06:20,560
Speaker 1: the minutes also mention some concern over digital assets like

100
00:06:20,600 --> 00:06:24,039
Speaker 1: stable coins that they say are subject to runs and

101
00:06:24,120 --> 00:06:28,039
Speaker 1: fire sales and excessive leverage. Do you take that as

102
00:06:28,240 --> 00:06:32,760
Speaker 1: a nudge from the Fed toward Congress with an eye

103
00:06:32,760 --> 00:06:38,359
Speaker 1: toward clearer regulations at all? I think clearer regulations related

104
00:06:38,360 --> 00:06:40,760
Speaker 1: to digital assets would be helpful, and I think a

105
00:06:40,800 --> 00:06:46,040
Speaker 1: good start that would be very carefully crafted bipartisan stable

106
00:06:46,160 --> 00:06:50,320
Speaker 1: coin piece of legislation that would define stable coins being

107
00:06:50,400 --> 00:06:53,560
Speaker 1: used for payment purposes, define what a good one is,

108
00:06:53,640 --> 00:06:57,640
Speaker 1: which would bring certainty to the regulatory system, provide clarity

109
00:06:57,680 --> 00:07:01,640
Speaker 1: for consumers and users. So I've be supportive of that process,

110
00:07:01,839 --> 00:07:05,400
Speaker 1: and we have work being done with the administration and

111
00:07:05,440 --> 00:07:08,359
Speaker 1: with Congress on that important point. I think it was

112
00:07:08,480 --> 00:07:12,200
Speaker 1: brought home by the sell off and digital assets over

113
00:07:12,240 --> 00:07:15,320
Speaker 1: the last few weeks. I also want to ask, I

114
00:07:15,320 --> 00:07:18,880
Speaker 1: know you've been participating, Uh there's the events sent fintech

115
00:07:19,040 --> 00:07:22,960
Speaker 1: summit in Little Rock, Arkansas. Can you tell us at

116
00:07:23,000 --> 00:07:26,120
Speaker 1: all about what's what's happening in your home state to

117
00:07:26,480 --> 00:07:31,480
Speaker 1: either attract business or develop help startups develop. What's going

118
00:07:31,520 --> 00:07:36,440
Speaker 1: on in the world of fintech businesses in your home state. Well,

119
00:07:36,480 --> 00:07:40,360
Speaker 1: here in Arkansas, we just had the fin sent Summit

120
00:07:40,640 --> 00:07:42,800
Speaker 1: where we had five hundred people from around the world

121
00:07:42,880 --> 00:07:48,160
Speaker 1: here showcasing their fintech innovations. Uh. This has been anchored

122
00:07:48,160 --> 00:07:52,240
Speaker 1: by Fidelity Information Systems f i S and the Independent

123
00:07:52,280 --> 00:07:55,120
Speaker 1: Community Bankers of America i c b A, both of

124
00:07:55,120 --> 00:08:00,440
Speaker 1: which have selected Little Rock as their cornerstone center for

125
00:08:00,520 --> 00:08:03,640
Speaker 1: fintech innovation. And it was an exciting conference and it's

126
00:08:03,680 --> 00:08:06,280
Speaker 1: a big part of our effort in Arkansas to create

127
00:08:06,320 --> 00:08:09,960
Speaker 1: a more dynamic economy with a faster growth rate. We

128
00:08:10,040 --> 00:08:13,720
Speaker 1: think fintech is absolutely at the center of that. And

129
00:08:13,840 --> 00:08:17,320
Speaker 1: Arkansas has a long standing fifty year relationship with financial

130
00:08:17,320 --> 00:08:22,160
Speaker 1: technology innovation. So this is sort of our mission, Jack

131
00:08:22,240 --> 00:08:26,120
Speaker 1: to meet Steve Case's effort to have the rise of

132
00:08:26,160 --> 00:08:29,960
Speaker 1: the Rest, where the flyover states step up and do

133
00:08:30,080 --> 00:08:32,880
Speaker 1: their part to create a more dynamic economy that's not

134
00:08:33,000 --> 00:08:35,240
Speaker 1: on the East or West coast. And when you say

135
00:08:35,320 --> 00:08:39,120
Speaker 1: create a more dynamic economy, is this I guess to

136
00:08:39,160 --> 00:08:43,840
Speaker 1: what extenter your goals attracting businesses that currently exist in

137
00:08:43,880 --> 00:08:47,199
Speaker 1: other states? Or is this more of a startup incubator

138
00:08:47,280 --> 00:08:50,960
Speaker 1: kind of thing. Uh? How do you balance those two

139
00:08:50,960 --> 00:08:54,000
Speaker 1: approaches to startups? Beginning in Arkansas. Are you trying to

140
00:08:54,080 --> 00:08:58,000
Speaker 1: get people to relocate to Arkansas. It's a key point,

141
00:08:58,080 --> 00:09:01,040
Speaker 1: you know. I've always felt that startups were a way

142
00:09:01,080 --> 00:09:03,840
Speaker 1: to grow your own success stories. And so of the

143
00:09:03,920 --> 00:09:09,080
Speaker 1: hundred companies that have gone through Fidelity Information Systems Incubator

144
00:09:09,200 --> 00:09:14,239
Speaker 1: Accelerator program over the last seven years, can have located

145
00:09:14,360 --> 00:09:16,599
Speaker 1: here and in Little Rock and are growing here in

146
00:09:16,679 --> 00:09:20,000
Speaker 1: Little Rock with one recent announcement yesterday. So I think

147
00:09:20,000 --> 00:09:22,439
Speaker 1: it's important to do both. We have a dynamic environment

148
00:09:22,480 --> 00:09:26,000
Speaker 1: that attracts outside companies and outside employment, but I think

149
00:09:26,000 --> 00:09:29,440
Speaker 1: it's critical for us to increase our economic growth rate

150
00:09:29,960 --> 00:09:32,000
Speaker 1: by doing that by growing our own right here in

151
00:09:32,080 --> 00:09:35,720
Speaker 1: central Arkansas. I've got to ask, because this has obviously

152
00:09:35,760 --> 00:09:38,640
Speaker 1: been a major thing in the news recently, whether it's

153
00:09:38,920 --> 00:09:42,480
Speaker 1: maybe it's more relevant to attracting outside companies. But a

154
00:09:42,559 --> 00:09:46,880
Speaker 1: state like Arkansas with an abortion ban that went into effect,

155
00:09:47,320 --> 00:09:51,120
Speaker 1: uh doesn't have exceptions for rape or incest just about

156
00:09:51,120 --> 00:09:55,240
Speaker 1: across the board band in Arkansas. Does that create um

157
00:09:55,480 --> 00:09:59,079
Speaker 1: difficulties for the state to attract employers that might want

158
00:09:59,080 --> 00:10:03,920
Speaker 1: to come there and tract employees Jack. It's a good question.

159
00:10:03,960 --> 00:10:07,680
Speaker 1: I haven't seen any evidence that it has that's something

160
00:10:07,720 --> 00:10:10,720
Speaker 1: that the legislature, of course, will deal with in its

161
00:10:10,840 --> 00:10:15,800
Speaker 1: first regular session following the road decision, which will convene

162
00:10:15,880 --> 00:10:18,960
Speaker 1: in January. But no, I've not seen it raised. And

163
00:10:18,960 --> 00:10:22,400
Speaker 1: we had five hundred people from around the world visiting

164
00:10:22,480 --> 00:10:25,960
Speaker 1: Little Rock as a business location in an accelerated location

165
00:10:26,000 --> 00:10:28,679
Speaker 1: this week. That seems syndicate we've been we're doing something

166
00:10:28,760 --> 00:10:31,720
Speaker 1: right here on the business front. One other big picture

167
00:10:31,840 --> 00:10:35,120
Speaker 1: question I've got to ask you about Liz Cheney losing

168
00:10:35,160 --> 00:10:38,559
Speaker 1: her primary, not ruling out the idea of running for president.

169
00:10:39,000 --> 00:10:43,320
Speaker 1: What what is Liz Cheney's place in the Republican Party

170
00:10:43,440 --> 00:10:48,400
Speaker 1: and in American politics right now? Well, Liz Cheney has

171
00:10:48,440 --> 00:10:50,880
Speaker 1: served the people of Wyaomi, and they made another decision

172
00:10:51,000 --> 00:10:55,200
Speaker 1: yesterday to send her back to the private sector and

173
00:10:55,640 --> 00:10:58,600
Speaker 1: have her leave her service in Congress. She has a

174
00:10:58,679 --> 00:11:02,800
Speaker 1: track record as a can servative policy expert on national security,

175
00:11:03,080 --> 00:11:06,760
Speaker 1: and UH is devoted to this country. But look, running

176
00:11:06,760 --> 00:11:10,400
Speaker 1: for president requires the nomination of a political party, and

177
00:11:10,440 --> 00:11:14,600
Speaker 1: the Republican Party has to find consensus around that candidate.

178
00:11:14,920 --> 00:11:17,080
Speaker 1: And right now, with that defeat in Wyoming, I think

179
00:11:17,120 --> 00:11:20,920
Speaker 1: that challenges live Cheney's ability to find that consensus in

180
00:11:20,960 --> 00:11:24,640
Speaker 1: the Republican Party in the their term to be nominated

181
00:11:25,000 --> 00:11:28,320
Speaker 1: for a president. Congressman, thank you so much, really helpful

182
00:11:28,360 --> 00:11:30,480
Speaker 1: to to talk state of the economy. Seat of the

183
00:11:30,520 --> 00:11:35,480
Speaker 1: Republican Party. That's Congressman french Hill, Republican from Arkansas. We'll

184
00:11:35,480 --> 00:11:37,920
Speaker 1: see you when you come back to d C in September.

185
00:11:38,400 --> 00:11:40,400
Speaker 1: We're gonna talk a little later to Michael Steele, the

186
00:11:40,400 --> 00:11:43,000
Speaker 1: former r n C chairman. Coming up, though, we've got

187
00:11:43,000 --> 00:11:46,199
Speaker 1: to have our panel Bloomberg Politics contributors Rick Davis and

188
00:11:46,280 --> 00:11:48,400
Speaker 1: Jeannie she and Zano. I've got to see what they

189
00:11:48,440 --> 00:11:53,480
Speaker 1: think about this. CDC maya culpa on mystiques made responding

190
00:11:53,520 --> 00:11:57,920
Speaker 1: to the coronavirus pandemic. I'm Jack Fitzpatrick. This is Bloomberg.

191
00:12:03,080 --> 00:12:08,520
Speaker 1: This is Bloomberg Sound On with Joe Matthew on Bloomberg Radio.

192
00:12:10,520 --> 00:12:14,760
Speaker 1: CDC director Rochelle Wilensky with a bit of an indictment

193
00:12:14,800 --> 00:12:18,840
Speaker 1: of her own agency's response in the early days of

194
00:12:18,920 --> 00:12:22,360
Speaker 1: the coronavirus pandemic U. These are her words, and this

195
00:12:22,400 --> 00:12:24,800
Speaker 1: story has a lot of detail on the Bloomberg terminal.

196
00:12:25,000 --> 00:12:27,600
Speaker 1: She said, to be Frank, we are responsible for some

197
00:12:27,640 --> 00:12:33,120
Speaker 1: pretty dramatic, pretty public mistakes from testing to data to communications.

198
00:12:33,559 --> 00:12:36,559
Speaker 1: We've got to discuss this more with our panel. I'm

199
00:12:36,640 --> 00:12:39,839
Speaker 1: Jack Fitzpatrick from Bloomberg Government, sitting in for Joe Matthew. Today.

200
00:12:39,880 --> 00:12:43,520
Speaker 1: We've got Bloomberg Politics contributors Rick Davis and Jennie she

201
00:12:43,640 --> 00:12:46,320
Speaker 1: and Zano with us to discuss this. Uh. The c

202
00:12:46,480 --> 00:12:51,160
Speaker 1: d C said today two employees they're going to impose

203
00:12:51,320 --> 00:12:57,000
Speaker 1: changes aimed at replacing its insular academic culture with one

204
00:12:57,040 --> 00:13:00,280
Speaker 1: that's supposed to be quicker to respond to emergency ease.

205
00:13:00,640 --> 00:13:03,520
Speaker 1: UH what does that mean? That means more quickly turning

206
00:13:03,600 --> 00:13:08,400
Speaker 1: research into health recommendations, working with other parts of the government. Uh,

207
00:13:08,440 --> 00:13:12,480
Speaker 1: in improving the way CDC communicates with the public. Guys,

208
00:13:12,480 --> 00:13:15,560
Speaker 1: I want to at least start with the basics here.

209
00:13:16,120 --> 00:13:19,360
Speaker 1: Maybe communication with the public is the easiest to identify.

210
00:13:19,960 --> 00:13:22,800
Speaker 1: What did did the CDC do wrong? What do we

211
00:13:22,800 --> 00:13:25,400
Speaker 1: know about what they need to improve? Rick, let's start

212
00:13:25,400 --> 00:13:29,200
Speaker 1: with you. Well, I think you know the director Rochel

213
00:13:29,240 --> 00:13:33,199
Speaker 1: Olinsky is a well known person in the media these days, right.

214
00:13:33,200 --> 00:13:35,280
Speaker 1: I mean, she played an important role in communicating to

215
00:13:35,320 --> 00:13:39,240
Speaker 1: the public about UH UH COVID and and I think

216
00:13:39,360 --> 00:13:42,120
Speaker 1: sort of gets the fact that, UH, the c d

217
00:13:42,240 --> 00:13:47,920
Speaker 1: C probably has been confusing, uh, if not lack of

218
00:13:47,960 --> 00:13:52,080
Speaker 1: transparency throughout the course of this and and and has

219
00:13:52,080 --> 00:13:55,160
Speaker 1: focused on communications is one of the big reforms. In fact,

220
00:13:55,200 --> 00:13:57,400
Speaker 1: it was one of the few things that are actually

221
00:13:57,440 --> 00:14:01,960
Speaker 1: gonna have a revamp at the staffing level versus you know,

222
00:14:02,040 --> 00:14:05,400
Speaker 1: some of these policy changes you mentioned, Jack So Um,

223
00:14:05,920 --> 00:14:08,719
Speaker 1: you know, I just I see this as sort of

224
00:14:08,760 --> 00:14:12,360
Speaker 1: a a decision in a vacuum. I mean, at the

225
00:14:12,400 --> 00:14:16,440
Speaker 1: same time she's talking about doing this, there's been a

226
00:14:16,440 --> 00:14:21,120
Speaker 1: new Assistant Secretary for Preparedness created and HHS house at work. Um,

227
00:14:21,120 --> 00:14:24,040
Speaker 1: you know, no comments really, I've seen in the reporting

228
00:14:24,080 --> 00:14:27,480
Speaker 1: about uh, some of the confusing interface between f d

229
00:14:27,640 --> 00:14:31,760
Speaker 1: A and CDC that has created some of these communication problems.

230
00:14:31,800 --> 00:14:34,840
Speaker 1: So I think we're gonna watch this very closely, but

231
00:14:34,920 --> 00:14:36,560
Speaker 1: they've got a long way to go before I think

232
00:14:36,640 --> 00:14:40,720
Speaker 1: the American publics and renew their confidence in the CDC. Now.

233
00:14:40,800 --> 00:14:43,480
Speaker 1: One thing I think is an obvious example in the

234
00:14:43,480 --> 00:14:47,560
Speaker 1: communication that has cited pretty frequently is the back and

235
00:14:47,640 --> 00:14:51,080
Speaker 1: forth on their guidance as to whether people should wear

236
00:14:51,160 --> 00:14:53,560
Speaker 1: masks at the very beginning of COVID. It may have

237
00:14:53,640 --> 00:14:57,720
Speaker 1: been March. I don't know, if that's the only issue

238
00:14:57,760 --> 00:15:00,840
Speaker 1: they had. Obviously there was a whole vaccination campaign with

239
00:15:00,920 --> 00:15:04,800
Speaker 1: mixed results across the country. Genie, what stands out that

240
00:15:04,880 --> 00:15:08,320
Speaker 1: they need to the CDC needs to fix when they're

241
00:15:08,320 --> 00:15:11,320
Speaker 1: looking back at their response to COVID. You know, it's

242
00:15:11,360 --> 00:15:15,240
Speaker 1: critically important that Dr Wilenski did this, and and obviously

243
00:15:15,320 --> 00:15:19,200
Speaker 1: the experience during COVID exacerbated what has been a tremendous

244
00:15:19,240 --> 00:15:22,240
Speaker 1: and long term problem at the c d C. A

245
00:15:22,280 --> 00:15:24,840
Speaker 1: lot of people today are citing as an example going

246
00:15:24,840 --> 00:15:27,760
Speaker 1: back to the Ebola epidemic and some of the problems

247
00:15:27,800 --> 00:15:31,440
Speaker 1: there in in in around, but you can go back

248
00:15:31,480 --> 00:15:34,040
Speaker 1: even further than that, and you just mentioned some of

249
00:15:34,120 --> 00:15:37,520
Speaker 1: the issues, you know, the the masking and the mitigation measures,

250
00:15:37,720 --> 00:15:41,560
Speaker 1: the public messaging on that was very confusing, um in

251
00:15:41,640 --> 00:15:45,560
Speaker 1: terms of data being released too late to inform decision making.

252
00:15:45,680 --> 00:15:49,320
Speaker 1: Critically important that they fixed that they were releasing flawed

253
00:15:49,320 --> 00:15:52,320
Speaker 1: testing to public health labs. I mean the extent of

254
00:15:52,360 --> 00:15:54,880
Speaker 1: the problems you could go on and list. I have

255
00:15:54,960 --> 00:15:56,800
Speaker 1: to tell you, Jack, and for you, as somebody who

256
00:15:56,800 --> 00:15:59,320
Speaker 1: follows Congress so closely, I think two of the most

257
00:15:59,360 --> 00:16:02,960
Speaker 1: important changes that they're talking about making that I think

258
00:16:03,000 --> 00:16:07,720
Speaker 1: are terribly important. Deal with Congress Number one, Congress getting

259
00:16:08,040 --> 00:16:12,680
Speaker 1: allowing the CDC to have some powers to mandate jurisdiction

260
00:16:12,800 --> 00:16:16,560
Speaker 1: share their data. This isn't the mandate they've relied on,

261
00:16:17,000 --> 00:16:20,560
Speaker 1: you know, the goodwill of localities, counties, and states to

262
00:16:20,600 --> 00:16:24,160
Speaker 1: release data voluntarily. That is not good in a federal system.

263
00:16:24,360 --> 00:16:27,160
Speaker 1: If Congress can fix that, that would be critically important.

264
00:16:27,400 --> 00:16:31,120
Speaker 1: And also flexibility on funding. The CDC is dealing with

265
00:16:31,120 --> 00:16:34,440
Speaker 1: about a hundred and fifty individual budget lines. The earmarks

266
00:16:34,480 --> 00:16:36,120
Speaker 1: that are going out there for the c d C

267
00:16:36,360 --> 00:16:39,400
Speaker 1: make it hard for them to respond quickly to a

268
00:16:39,440 --> 00:16:42,560
Speaker 1: public health emergency. And again, when you look at Ebola,

269
00:16:42,640 --> 00:16:44,920
Speaker 1: people were saying they couldn't even get some of their

270
00:16:44,960 --> 00:16:47,920
Speaker 1: experts on the ground because they didn't have the budget

271
00:16:47,960 --> 00:16:50,720
Speaker 1: lines to pay for flights to get them there. Those

272
00:16:50,800 --> 00:16:53,800
Speaker 1: kinds of fixes with Congress would go a long way.

273
00:16:54,080 --> 00:16:56,200
Speaker 1: And I agree with you and Rick on certainly the

274
00:16:56,240 --> 00:16:58,920
Speaker 1: messaging as well. Well, all right, that's a lot that

275
00:16:58,960 --> 00:17:01,440
Speaker 1: they can fix. To look at the other side of

276
00:17:01,440 --> 00:17:05,520
Speaker 1: the coin, is there any significant extent to which this

277
00:17:05,840 --> 00:17:10,680
Speaker 1: uh mayo culpa is the CDC taking the blame from

278
00:17:11,000 --> 00:17:14,360
Speaker 1: former President Trump? Rick how much how much is this

279
00:17:14,640 --> 00:17:17,240
Speaker 1: the CDC taking the blame when at the time, in

280
00:17:17,240 --> 00:17:19,840
Speaker 1: the early days, the president was saying that the virus

281
00:17:19,840 --> 00:17:25,200
Speaker 1: would go away magically. Yeah. I obviously post Donald Trump,

282
00:17:25,280 --> 00:17:28,679
Speaker 1: there have been a lot of examinations of what the

283
00:17:28,680 --> 00:17:32,240
Speaker 1: White House UH influence on the c d C did

284
00:17:32,320 --> 00:17:38,840
Speaker 1: to actually exacerbate the covid UH public health emergency. And

285
00:17:38,840 --> 00:17:41,080
Speaker 1: and and I think part of what the way I

286
00:17:41,160 --> 00:17:46,640
Speaker 1: read the announcements that Director will Well Sky put out

287
00:17:46,640 --> 00:17:49,679
Speaker 1: today is that it's they're kind of looking past that, right.

288
00:17:49,720 --> 00:17:55,440
Speaker 1: There's some mention of the difference between um UH permanent

289
00:17:55,440 --> 00:17:57,959
Speaker 1: staff who have been there for decades and and and

290
00:17:58,080 --> 00:18:00,840
Speaker 1: political staff who were only there for know, sometimes months

291
00:18:00,880 --> 00:18:03,760
Speaker 1: at a time, and the but that's in every agency

292
00:18:03,760 --> 00:18:06,280
Speaker 1: of government, that is not exclusive to c DC. But

293
00:18:06,400 --> 00:18:09,000
Speaker 1: they did seem to sort of blow past, you know,

294
00:18:09,080 --> 00:18:12,120
Speaker 1: some of the turmoil that the Trump White House was created,

295
00:18:12,359 --> 00:18:15,440
Speaker 1: both of you know, h hh S and CDC. On

296
00:18:15,520 --> 00:18:18,399
Speaker 1: that note, i'd also note political reports a group of

297
00:18:18,440 --> 00:18:21,199
Speaker 1: House Democrats are calling on President Biden to use the

298
00:18:21,240 --> 00:18:25,320
Speaker 1: Defense Production Act on the Monkey Pops vaccine. Coming up,

299
00:18:25,320 --> 00:18:27,480
Speaker 1: we're gonna talk to Michael Steele, the former r N

300
00:18:27,560 --> 00:18:30,320
Speaker 1: C chairman on the state of the Republican Party. I'm

301
00:18:30,400 --> 00:18:36,479
Speaker 1: Jack Fitzpatrick. This is Bloomberg. As I said, Liz Cheney

302
00:18:36,720 --> 00:18:42,600
Speaker 1: lost her her House primary re election bid to a

303
00:18:42,640 --> 00:18:47,240
Speaker 1: member backed by former President Donald Trump in a very

304
00:18:47,359 --> 00:18:52,359
Speaker 1: high profile UH Trump versus Anti Trump race, and Cheney

305
00:18:52,400 --> 00:18:56,399
Speaker 1: did not rule out a presidential run. There's quite a

306
00:18:56,400 --> 00:18:59,199
Speaker 1: bit of uh. I. I'm very curious as to what

307
00:18:59,280 --> 00:19:01,800
Speaker 1: else she does. Is it a superpack and nonprofit? What

308
00:19:01,880 --> 00:19:05,080
Speaker 1: exactly will Liz Cheney's role be in the Republican Party.

309
00:19:05,320 --> 00:19:09,439
Speaker 1: We're joined out by Michael Steele, former RNC chairman use

310
00:19:09,520 --> 00:19:12,680
Speaker 1: RNC chairman from two thousand nine to eleven. UH would

311
00:19:12,680 --> 00:19:15,320
Speaker 1: go on to be quite critical of former President Trump

312
00:19:15,359 --> 00:19:18,040
Speaker 1: and his role in the Republican Party. Was active with

313
00:19:18,119 --> 00:19:21,520
Speaker 1: the Lincoln Project. Uh. Michael, very glad to have you

314
00:19:21,600 --> 00:19:26,480
Speaker 1: with us at following Congresswoman Cheney's primary loss. I'm curious

315
00:19:26,520 --> 00:19:29,280
Speaker 1: what you see as her most effective role should she

316
00:19:29,359 --> 00:19:32,880
Speaker 1: run for president, should she start an outside group? Where

317
00:19:32,880 --> 00:19:36,320
Speaker 1: would she be effective in your opinion? Well, first off,

318
00:19:36,320 --> 00:19:39,000
Speaker 1: thanks for having me on. Really appreciate it being back

319
00:19:39,040 --> 00:19:43,760
Speaker 1: with you guys. Bloomberg. As they say, she got options,

320
00:19:45,520 --> 00:19:52,679
Speaker 1: she is a woman political actor who will set whatever

321
00:19:52,800 --> 00:19:57,639
Speaker 1: course she wants UM. And it's still rather buffuddling to

322
00:19:57,760 --> 00:20:02,959
Speaker 1: me the chanale inside the GOP that thought that if

323
00:20:03,119 --> 00:20:07,000
Speaker 1: the wiser move would be a too uh strip her

324
00:20:07,040 --> 00:20:10,720
Speaker 1: of her leadership and be kick her out of part

325
00:20:10,800 --> 00:20:13,800
Speaker 1: out of the party and then see unseat her from

326
00:20:13,800 --> 00:20:19,280
Speaker 1: her congressional seat. Um. She is someone who has been consistent,

327
00:20:19,359 --> 00:20:24,280
Speaker 1: has amassed UM an amazing cross section of voters around

328
00:20:24,280 --> 00:20:29,200
Speaker 1: the country. Now, whether that translates favorably in a presidential

329
00:20:29,240 --> 00:20:32,960
Speaker 1: bid A lot remains to be seen on that. But

330
00:20:33,080 --> 00:20:38,440
Speaker 1: in the short term she can be an excruciatingly painful

331
00:20:39,320 --> 00:20:45,600
Speaker 1: UM pain in the side. Do you, or Republicans, especially Trump,

332
00:20:46,160 --> 00:20:50,879
Speaker 1: do you really think that the House Republican Conference could

333
00:20:50,920 --> 00:20:54,520
Speaker 1: have kept her in the fold given her activity with

334
00:20:54,520 --> 00:20:57,960
Speaker 1: the January six committee? Was there really an option to

335
00:20:58,960 --> 00:21:02,720
Speaker 1: I guess men defenses with her, and there's always an

336
00:21:02,760 --> 00:21:07,120
Speaker 1: option leadership. Look, I I can tell you the county,

337
00:21:07,280 --> 00:21:11,000
Speaker 1: state and national chairman. You always have options with with

338
00:21:11,119 --> 00:21:17,520
Speaker 1: candidates and and and elected officials who don't necessarily uh

339
00:21:17,600 --> 00:21:20,479
Speaker 1: you know, ride the in the car the way you

340
00:21:20,520 --> 00:21:23,280
Speaker 1: liked them to. Uh. They keep sticking their head out

341
00:21:23,320 --> 00:21:25,719
Speaker 1: the of the window and screaming, you know, roll up

342
00:21:25,720 --> 00:21:28,920
Speaker 1: the window. I mean their options blocked the window. Um,

343
00:21:29,040 --> 00:21:31,480
Speaker 1: that's my point. And and and the fact of the

344
00:21:31,520 --> 00:21:35,440
Speaker 1: matter is the leadership didn't do that because they were

345
00:21:35,480 --> 00:21:39,280
Speaker 1: more driven by what trust desires were, not what was

346
00:21:39,320 --> 00:21:42,640
Speaker 1: in the best entrance of the party. Um. And and

347
00:21:42,720 --> 00:21:47,119
Speaker 1: so from my perspective, um, you know, Liz did what

348
00:21:47,240 --> 00:21:49,640
Speaker 1: she had to do because she wasn't getting the kind

349
00:21:49,680 --> 00:21:53,439
Speaker 1: of leadership and cooperation to push back against the the

350
00:21:53,480 --> 00:21:57,560
Speaker 1: big lie. The leadership stood there and basically after January

351
00:21:57,600 --> 00:22:00,800
Speaker 1: seven said Okay, well we'll just look at it, says

352
00:22:00,840 --> 00:22:06,800
Speaker 1: you know, another day. And it was then that well,

353
00:22:06,880 --> 00:22:09,880
Speaker 1: I'm curious, then, what's trying to do what she did?

354
00:22:10,080 --> 00:22:12,960
Speaker 1: So I'm curious what you make of the other news

355
00:22:13,000 --> 00:22:16,760
Speaker 1: today at this politics and Eggs event in New Hampshire,

356
00:22:16,800 --> 00:22:20,440
Speaker 1: when former Vice President Mike Pence said he'd consider appearing

357
00:22:20,560 --> 00:22:23,880
Speaker 1: before the January six committee if he is asked by

358
00:22:23,880 --> 00:22:26,800
Speaker 1: the committee to do so. Would that what kind of

359
00:22:27,000 --> 00:22:30,200
Speaker 1: escalation would that be? Would that take the former vice

360
00:22:30,240 --> 00:22:33,600
Speaker 1: president from someone who obviously doesn't have a good relationship

361
00:22:33,640 --> 00:22:36,600
Speaker 1: with Trump and put him firmly in the anti Trump camp,

362
00:22:36,680 --> 00:22:41,159
Speaker 1: or what would that mean, you know, first off, you know,

363
00:22:41,440 --> 00:22:44,480
Speaker 1: I'm a little bit bored with the anti Trump. Trump

364
00:22:44,560 --> 00:22:47,040
Speaker 1: is the outlier here. I don't know why we keep

365
00:22:47,040 --> 00:22:51,520
Speaker 1: treating him like he's somehow a normal fixture in American politics.

366
00:22:51,560 --> 00:22:54,680
Speaker 1: He isn't. He's the outlier. So from that standpoint, his

367
00:22:54,880 --> 00:23:00,280
Speaker 1: vice president um seemingly at least interested after you know,

368
00:23:00,880 --> 00:23:06,840
Speaker 1: nearly getting killed on January six wanting to testify about that. Yeah,

369
00:23:06,840 --> 00:23:10,119
Speaker 1: it's a big deal. Um, it does matter, particularly given

370
00:23:10,560 --> 00:23:14,720
Speaker 1: how loyal the vice president has been to Trump, how

371
00:23:15,280 --> 00:23:19,240
Speaker 1: much he's safeguarded that relationship, even though Trump clearly didn't

372
00:23:19,280 --> 00:23:22,480
Speaker 1: care about it, as evidence from what we've seen from

373
00:23:23,240 --> 00:23:27,080
Speaker 1: the January sixth Committee and members of the of the

374
00:23:27,080 --> 00:23:32,720
Speaker 1: administration who testified about how the President viewed the vice

375
00:23:32,760 --> 00:23:36,320
Speaker 1: president's role that day. So, yeah, it's a big deal

376
00:23:36,560 --> 00:23:39,760
Speaker 1: if he decides to do it, Um, and that, but

377
00:23:39,880 --> 00:23:42,880
Speaker 1: that remains to be seeing if he does actually pull

378
00:23:42,920 --> 00:23:45,800
Speaker 1: the trigger. Well then on the other side, I'm curious,

379
00:23:45,800 --> 00:23:49,480
Speaker 1: because you ended up endorsing Joe Biden in do you

380
00:23:49,600 --> 00:23:53,040
Speaker 1: think he should run again as he's the strongest Democrat

381
00:23:53,080 --> 00:23:56,480
Speaker 1: in the field. I have no say on who the

382
00:23:56,480 --> 00:24:00,800
Speaker 1: Democrats to put out there. Um, I'm not supporting Donald Trump.

383
00:24:00,840 --> 00:24:04,320
Speaker 1: I'm hoping that the Republicans will will get their collective

384
00:24:04,720 --> 00:24:10,160
Speaker 1: senses together and nominate a strong conservative candidate to run

385
00:24:10,640 --> 00:24:13,680
Speaker 1: for the presidency. If you know, I was very clear

386
00:24:13,800 --> 00:24:16,640
Speaker 1: if our nominee had been Vice President Pence, there would

387
00:24:16,680 --> 00:24:20,359
Speaker 1: not have been any endorsement of Joe Biden. Um. So

388
00:24:20,880 --> 00:24:24,080
Speaker 1: if the Vice president can make his way through the primaries,

389
00:24:24,320 --> 00:24:27,160
Speaker 1: that's that's that's a good thing for the party. If

390
00:24:27,320 --> 00:24:32,680
Speaker 1: if Liz Cheney or or Larry Hogan, or Charlie Baker

391
00:24:32,920 --> 00:24:38,800
Speaker 1: or any number of highly qualified, uh non sycophanic Republicans,

392
00:24:39,400 --> 00:24:43,440
Speaker 1: um can can uh you know, break this Trumpian fever

393
00:24:44,080 --> 00:24:48,480
Speaker 1: um and get through the primary, they would be um

394
00:24:48,760 --> 00:24:55,480
Speaker 1: formidable uh likely uh successful candidates for the presidency. But

395
00:24:55,600 --> 00:24:58,359
Speaker 1: until the party shows it's ready to do that, you know,

396
00:24:59,240 --> 00:25:02,040
Speaker 1: let me ask you real quick, where does Disantis fall

397
00:25:02,040 --> 00:25:07,560
Speaker 1: in that conversation? Uh gotta wait and see what he

398
00:25:07,680 --> 00:25:10,280
Speaker 1: what he can deliver. I'm not impressed with what I've

399
00:25:10,320 --> 00:25:14,360
Speaker 1: seen and how he handled something. Again, I don't need

400
00:25:14,440 --> 00:25:16,800
Speaker 1: I don't need. I don't need to prove the prop

401
00:25:17,040 --> 00:25:19,800
Speaker 1: that I'm a Republican, right, what you need to prove

402
00:25:19,840 --> 00:25:22,040
Speaker 1: it to the American people, which Michael Steele, thank you

403
00:25:22,119 --> 00:25:24,600
Speaker 1: so much for joining us, former RNC chairman. We'll go

404
00:25:24,640 --> 00:25:28,280
Speaker 1: back to the panel. Coming up. I'm Jack Fitzpatrick. This

405
00:25:28,440 --> 00:25:41,040
Speaker 1: is Bloomberg. You're listening to Bloomberg Sound On on Bloomberg Radio.

406
00:25:43,520 --> 00:25:48,080
Speaker 1: What happened to acceptance and concession speeches in American politics?

407
00:25:48,119 --> 00:25:51,800
Speaker 1: You heard Liz Cheney's concession speech last night, in which

408
00:25:52,000 --> 00:25:54,720
Speaker 1: she really didn't concede the main point at least to her,

409
00:25:55,119 --> 00:25:58,120
Speaker 1: which is her fight against former President Donald Trump's role

410
00:25:58,320 --> 00:26:02,800
Speaker 1: in American politics. Let's listen to her opponent who won

411
00:26:02,880 --> 00:26:07,520
Speaker 1: the House primary, Harriet Hagman, to see how her victory

412
00:26:07,600 --> 00:26:11,560
Speaker 1: speech compared last night. Wyoming has spoken on behalf of

413
00:26:11,640 --> 00:26:14,600
Speaker 1: everyone who is concerned that the game is becoming more

414
00:26:14,600 --> 00:26:18,520
Speaker 1: and more ranked against them. And what Wyoming has shown

415
00:26:18,560 --> 00:26:21,720
Speaker 1: today is that while it may not be easy, we

416
00:26:21,920 --> 00:26:27,280
Speaker 1: can dislodge entrenched politicians who believe they've risen above the

417
00:26:27,359 --> 00:26:36,679
Speaker 1: people they are supposed to represent. It, sir, so the

418
00:26:36,760 --> 00:26:40,080
Speaker 1: fight continues on both sides in a sense. I'm Jack

419
00:26:40,119 --> 00:26:43,520
Speaker 1: Fitzpatrick from Bloomberg Government, stepping in today for Joe Matthew.

420
00:26:43,720 --> 00:26:46,880
Speaker 1: Let's go to the panel. Bloomberg Politics contributors Rick Davis

421
00:26:46,920 --> 00:26:51,159
Speaker 1: and Genie she and Zano uh Rick, I'm curious about

422
00:26:51,160 --> 00:26:55,440
Speaker 1: the word rigged. That was an emphasis of the the

423
00:26:55,480 --> 00:27:00,720
Speaker 1: Republican primary victor's speech last night in Wyoming. What is

424
00:27:00,720 --> 00:27:03,359
Speaker 1: she getting at by by talking about her appeal to

425
00:27:03,400 --> 00:27:07,040
Speaker 1: people who feel that the system is rigged against them? Well,

426
00:27:07,080 --> 00:27:09,040
Speaker 1: I think these are just talking points coming out of

427
00:27:09,080 --> 00:27:12,200
Speaker 1: Marrow Ago is to how she got the Trump uh

428
00:27:12,359 --> 00:27:16,520
Speaker 1: nod for the for her campaign and and frankly the

429
00:27:16,560 --> 00:27:18,960
Speaker 1: fundamental issue that she ran on. I mean, she's just

430
00:27:19,480 --> 00:27:23,080
Speaker 1: aping Donald Trump talking points and and that's why she

431
00:27:23,160 --> 00:27:25,399
Speaker 1: was able to get the support and the money uh

432
00:27:25,440 --> 00:27:29,760
Speaker 1: to uh wage this campaign against against Liz Cheney. So

433
00:27:29,880 --> 00:27:32,199
Speaker 1: I mean, that's just more the same. You expect to

434
00:27:32,240 --> 00:27:35,440
Speaker 1: hear the exact same thing when she she wins her seat,

435
00:27:35,560 --> 00:27:39,200
Speaker 1: she comes to Washington. It's whatever the doc talking points

436
00:27:39,200 --> 00:27:43,159
Speaker 1: are gonna be gonna gonna be saying them. And it

437
00:27:43,320 --> 00:27:46,560
Speaker 1: seems to me that's a reference to Genie. I mean,

438
00:27:46,600 --> 00:27:49,520
Speaker 1: am I reading into this too much? It rigged? It

439
00:27:49,560 --> 00:27:53,680
Speaker 1: seems that uh denying the outcome of the presidential election

440
00:27:53,800 --> 00:27:58,359
Speaker 1: is a key point in congressional Republican primaries at this point, Genie,

441
00:27:58,480 --> 00:28:01,439
Speaker 1: might or am I reaching there? No? I mean, we

442
00:28:01,520 --> 00:28:03,879
Speaker 1: look at the Republican ballot and it is full of

443
00:28:03,920 --> 00:28:07,960
Speaker 1: these election deniers, from you know, attorney generals to secretaries

444
00:28:07,960 --> 00:28:11,760
Speaker 1: of states to googernatorial candidates, House and senatorial candidates. So

445
00:28:12,240 --> 00:28:16,280
Speaker 1: this is a reality of Republican politics today. They're on

446
00:28:16,320 --> 00:28:19,440
Speaker 1: the ballot for two and of course she has now

447
00:28:19,520 --> 00:28:23,639
Speaker 1: committed with this great task pack to ensuring or trying

448
00:28:23,680 --> 00:28:26,240
Speaker 1: to use her money in her sway to make sure

449
00:28:26,359 --> 00:28:29,760
Speaker 1: voters don't support them. I think in the short term

450
00:28:29,760 --> 00:28:32,640
Speaker 1: it is an uphill battle for Liz Cheney, but clearly,

451
00:28:32,680 --> 00:28:36,200
Speaker 1: as usual, Liz Cheney has decided she's willing to lose

452
00:28:36,240 --> 00:28:38,440
Speaker 1: a battle to win a longer term war that she

453
00:28:38,520 --> 00:28:42,120
Speaker 1: thinks is critically important, and she's putting her name, her job,

454
00:28:42,200 --> 00:28:45,880
Speaker 1: her money, and everything else her reputation behind this. What Genie,

455
00:28:45,920 --> 00:28:49,000
Speaker 1: do you think is the idea behind a possible Liz

456
00:28:49,120 --> 00:28:51,960
Speaker 1: Cheney presidential run. Would she be running to win? Would

457
00:28:52,000 --> 00:28:55,640
Speaker 1: she be running to try to focus on certain states

458
00:28:55,640 --> 00:28:57,800
Speaker 1: to take those away from Trump if he runs again?

459
00:28:58,040 --> 00:29:02,000
Speaker 1: What what's the strategy in that idea? You know, somebody

460
00:29:02,040 --> 00:29:04,760
Speaker 1: described it as you know, one of the very rare

461
00:29:05,280 --> 00:29:08,760
Speaker 1: serious presidential campaigns. If it happens, that's a kama Kaze

462
00:29:08,760 --> 00:29:11,720
Speaker 1: mission because at this point she'd have very little chance

463
00:29:11,800 --> 00:29:15,280
Speaker 1: of actually winning. What she would be doing, to your point,

464
00:29:15,400 --> 00:29:18,920
Speaker 1: is stopping Trump. But there's so many hurdles she would

465
00:29:18,960 --> 00:29:21,440
Speaker 1: face along that path. You know, if she's going to

466
00:29:21,560 --> 00:29:23,960
Speaker 1: run as a Republican, which we assume if she decides

467
00:29:24,000 --> 00:29:27,040
Speaker 1: to she would, that would of course raise all kinds

468
00:29:27,040 --> 00:29:30,760
Speaker 1: of questions. She's faced serious security threats already. Imagine if

469
00:29:30,800 --> 00:29:34,520
Speaker 1: she announced it for the presidency, could the GOP somehow

470
00:29:34,680 --> 00:29:37,080
Speaker 1: keep her off the ballot, deny her a place on

471
00:29:37,120 --> 00:29:41,200
Speaker 1: the stage because in debates she refuses to endorse their nominee.

472
00:29:41,240 --> 00:29:44,760
Speaker 1: If Trump's nominated. I mean, these are big challenges she

473
00:29:44,800 --> 00:29:47,560
Speaker 1: would face. So to your point, I think she could

474
00:29:47,640 --> 00:29:50,240
Speaker 1: run to stop him, it would be an uphill battle,

475
00:29:50,480 --> 00:29:53,640
Speaker 1: very little chance she'd get the nomination unless things change

476
00:29:53,920 --> 00:29:57,840
Speaker 1: in the next couple of years dramatically. In the Republican Base, Rick,

477
00:29:58,040 --> 00:30:00,440
Speaker 1: we covered some interesting ground with Michael steal in the

478
00:30:00,520 --> 00:30:03,400
Speaker 1: last segment of the former RNC chairman. He he didn't

479
00:30:03,480 --> 00:30:07,520
Speaker 1: quite like my amount of focus on the phrase anti

480
00:30:07,560 --> 00:30:11,560
Speaker 1: Trump in the context of the Republican primaries, and he

481
00:30:11,680 --> 00:30:14,280
Speaker 1: used the word outlier. It may be the case that

482
00:30:14,600 --> 00:30:18,800
Speaker 1: former President Trump was a pretty unpopular president in national

483
00:30:18,880 --> 00:30:23,640
Speaker 1: polls fairly consistently, But is there any reality to the

484
00:30:23,680 --> 00:30:27,600
Speaker 1: idea that Trump is anything but the dominant figure in

485
00:30:27,760 --> 00:30:31,000
Speaker 1: Republican politics right now? Yeah, Jack, I was interested by

486
00:30:31,080 --> 00:30:34,680
Speaker 1: your conversation with him, because you can't call Donald Trump

487
00:30:34,720 --> 00:30:36,719
Speaker 1: an outlier. He is the core of this party. I mean,

488
00:30:36,760 --> 00:30:39,360
Speaker 1: you can be unhappy with the status of the Republican

489
00:30:39,400 --> 00:30:41,800
Speaker 1: Party these days, and you can be hopeful that there

490
00:30:41,800 --> 00:30:43,880
Speaker 1: are leaders coming up through the ranks who can take

491
00:30:43,880 --> 00:30:46,240
Speaker 1: it to a different place. But Donald Trump owns the

492
00:30:46,280 --> 00:30:49,080
Speaker 1: Republican Party almost lock stock and barrel. We've seen it

493
00:30:49,120 --> 00:30:52,560
Speaker 1: with his influence with primary wins when he backs people

494
00:30:52,640 --> 00:30:56,280
Speaker 1: like Harriet Hageman against Liz Cheney. Uh. Liz Channey one

495
00:30:56,360 --> 00:30:59,360
Speaker 1: seventy pc of the vote two years ago. Uh, and

496
00:30:59,440 --> 00:31:02,600
Speaker 1: she lost almost that much this time. So it's Donald

497
00:31:02,600 --> 00:31:05,280
Speaker 1: Trump's GOP, whether we like it or not. And I

498
00:31:05,320 --> 00:31:07,080
Speaker 1: think the focus needs to be on, Okay, how do

499
00:31:07,160 --> 00:31:10,239
Speaker 1: we change that? What? What then, do you see as

500
00:31:10,280 --> 00:31:13,240
Speaker 1: the role of Rhonda Santis in the Republican Party? You know,

501
00:31:13,280 --> 00:31:17,080
Speaker 1: I had to ask Michael about that. Decantis seems to

502
00:31:17,600 --> 00:31:20,360
Speaker 1: not be a palatable option for the people who have

503
00:31:20,440 --> 00:31:24,360
Speaker 1: turned against Trump in the Republican Party. Uh if if

504
00:31:24,440 --> 00:31:28,040
Speaker 1: De Santis runs, is there the same amount of division

505
00:31:28,080 --> 00:31:31,680
Speaker 1: in the Republican Party? Rick? You know, maybe he's a

506
00:31:31,720 --> 00:31:35,000
Speaker 1: transitional figure, right, I mean, nothing changes overnight in politics,

507
00:31:35,160 --> 00:31:38,680
Speaker 1: and so um, you know, maybe uh de Santist becomes

508
00:31:38,680 --> 00:31:41,200
Speaker 1: a person who's maybe just a little less crazy than

509
00:31:41,280 --> 00:31:44,760
Speaker 1: Donald Trump, but more mains you know, stream Republicans get

510
00:31:44,760 --> 00:31:47,360
Speaker 1: on board. Who knows? I mean again, part of that's

511
00:31:47,360 --> 00:31:51,440
Speaker 1: going to depend upon what cost to do Santis having

512
00:31:51,440 --> 00:31:54,760
Speaker 1: Trump not run or getting his blessing. Um. We've seen

513
00:31:54,800 --> 00:31:58,960
Speaker 1: Republicans turned themselves into pretzels um trying to get Donald

514
00:31:58,960 --> 00:32:01,320
Speaker 1: Trump to not say bad things about them, which is

515
00:32:01,360 --> 00:32:05,360
Speaker 1: basically an endorsement. And so does the Santis believe that

516
00:32:05,400 --> 00:32:07,120
Speaker 1: he needs to have that done at some point in

517
00:32:07,160 --> 00:32:10,040
Speaker 1: time in order to ensure a nomination or does he

518
00:32:10,120 --> 00:32:13,840
Speaker 1: think he's powerful enough to get that vote that's Trump supporters,

519
00:32:14,080 --> 00:32:17,320
Speaker 1: um without having a cow tow to Donald Trump. This

520
00:32:17,360 --> 00:32:19,400
Speaker 1: is going to be an interesting thing to see because

521
00:32:19,480 --> 00:32:23,880
Speaker 1: that relationship seems already strained between Governor de Santis and

522
00:32:23,920 --> 00:32:28,120
Speaker 1: former President Trump. And let's talk about Mike Pence again, Jennie,

523
00:32:28,400 --> 00:32:31,760
Speaker 1: What do you think would be the significance if Pence

524
00:32:31,920 --> 00:32:35,160
Speaker 1: does in fact end up appearing or or complying in

525
00:32:35,200 --> 00:32:39,240
Speaker 1: some way with the Congressional January six committee. You know,

526
00:32:39,400 --> 00:32:43,160
Speaker 1: that would just be you know, certainly earth shattering in

527
00:32:43,320 --> 00:32:45,760
Speaker 1: my view if we heard that Mike Pence was going

528
00:32:45,800 --> 00:32:49,600
Speaker 1: to change his mind and agree to participate. And so

529
00:32:49,640 --> 00:32:52,040
Speaker 1: I was stunned when I heard him say what he

530
00:32:52,120 --> 00:32:55,200
Speaker 1: had to say today. But as you listen very closely

531
00:32:55,240 --> 00:32:58,520
Speaker 1: to his words, um, you know, I'm not so sure

532
00:32:58,560 --> 00:33:01,800
Speaker 1: he has actually changed his mind. He said he would

533
00:33:01,800 --> 00:33:05,640
Speaker 1: consider it, but and then there was an incredibly long explanation,

534
00:33:05,840 --> 00:33:09,320
Speaker 1: very worthy, which seemed to suggest that everything before that

535
00:33:09,360 --> 00:33:12,160
Speaker 1: but was a lie. So I'm not so sure he's

536
00:33:12,200 --> 00:33:14,920
Speaker 1: changed his mind. He got some news coverage off of it,

537
00:33:15,240 --> 00:33:18,840
Speaker 1: but I I don't see him agreeing to participate at

538
00:33:18,880 --> 00:33:21,640
Speaker 1: this point. Yeah, he talked a bit about how it

539
00:33:21,680 --> 00:33:24,680
Speaker 1: would be unusual for a former vice president to be

540
00:33:24,720 --> 00:33:27,680
Speaker 1: called before Congress. I I think it's fair to point

541
00:33:27,720 --> 00:33:32,160
Speaker 1: out January was pretty unusual. There's not that much historic

542
00:33:32,240 --> 00:33:36,320
Speaker 1: precedent for people overrunning the capital. Uh rick is it? It?

543
00:33:36,360 --> 00:33:40,360
Speaker 1: Would it be that unusual? Am I overlooking some um,

544
00:33:40,600 --> 00:33:43,400
Speaker 1: some code in which the former president is not supposed

545
00:33:43,440 --> 00:33:46,200
Speaker 1: to be called before this kind of committee. Well, I'm

546
00:33:46,440 --> 00:33:49,200
Speaker 1: sadly old enough to remember there are vice presidents have

547
00:33:49,240 --> 00:33:51,760
Speaker 1: got themselves in a lot of trouble like SPARROWAG. So

548
00:33:52,320 --> 00:33:55,720
Speaker 1: there there is not a president on this. You're right,

549
00:33:55,800 --> 00:33:58,600
Speaker 1: I mean, but he's not vice president anymore, right, I mean,

550
00:33:58,640 --> 00:34:00,160
Speaker 1: I think, you know, one of the things we've seen

551
00:34:00,320 --> 00:34:02,760
Speaker 1: is that when you're out office, you're out of office.

552
00:34:02,800 --> 00:34:06,000
Speaker 1: And it's admirable that he still, as he said in

553
00:34:06,000 --> 00:34:08,880
Speaker 1: his statement, you know, will uphold his oath of office.

554
00:34:09,440 --> 00:34:11,720
Speaker 1: But he doesn't have that office anymore. He's a private

555
00:34:11,760 --> 00:34:15,200
Speaker 1: citizen and and he is responsible for the powers of

556
00:34:15,239 --> 00:34:18,200
Speaker 1: our our of our Congress. I mean, we've seen all

557
00:34:18,280 --> 00:34:21,080
Speaker 1: these very strange things happening, as you say, around an

558
00:34:21,120 --> 00:34:24,600
Speaker 1: incredibly strange and divisive event. I mean, when was the

559
00:34:24,680 --> 00:34:27,960
Speaker 1: last time we saw the FBI search a president former

560
00:34:28,000 --> 00:34:30,879
Speaker 1: president's home. So I think he needs to get with

561
00:34:30,960 --> 00:34:33,960
Speaker 1: the new reality, which is this isn't going away, and

562
00:34:34,000 --> 00:34:37,800
Speaker 1: he needs to be cooperative. One other pretty significant piece

563
00:34:37,920 --> 00:34:42,000
Speaker 1: of news in terms of what the Republican Party looks like. Uh,

564
00:34:42,080 --> 00:34:44,560
Speaker 1: came from Alaska last night, or at least we're waiting

565
00:34:44,600 --> 00:34:48,280
Speaker 1: for some more news. I'm very interested in the Senate race.

566
00:34:48,520 --> 00:34:51,760
Speaker 1: This is going to be a Republican on Republican general election.

567
00:34:52,120 --> 00:34:56,920
Speaker 1: Lisa Murkowski, the incumbent senator, and her opponent, Kelly Chibaka,

568
00:34:57,239 --> 00:35:02,600
Speaker 1: who's the Trump supported figure, both going into the general election. Rick,

569
00:35:02,719 --> 00:35:05,920
Speaker 1: how does this work if you've got two Republicans Murkowski

570
00:35:06,000 --> 00:35:08,680
Speaker 1: considered more of the moderate How how does that play

571
00:35:08,760 --> 00:35:10,920
Speaker 1: out in Alaska when we go to the general election.

572
00:35:11,360 --> 00:35:13,319
Speaker 1: You know, it's it's it's part of a facet of

573
00:35:13,360 --> 00:35:16,799
Speaker 1: this system that Alaska has adopted to go through their

574
00:35:16,800 --> 00:35:19,759
Speaker 1: elections rank order voting. And look, I mean, I would

575
00:35:19,760 --> 00:35:21,799
Speaker 1: think she will do well. She's still popular amongst a

576
00:35:21,800 --> 00:35:26,400
Speaker 1: certain segment of Republican voters and overwhelmingly popular amongst independents

577
00:35:26,440 --> 00:35:31,120
Speaker 1: and Democrats, and so um, will there be criticism that

578
00:35:31,719 --> 00:35:35,960
Speaker 1: she gets elected, not in small part because Democrats voted

579
00:35:36,000 --> 00:35:39,920
Speaker 1: for her, Sure, but she's coalescing with Republicans. I mean,

580
00:35:39,960 --> 00:35:43,239
Speaker 1: why would anybody argue about having another Republican in the

581
00:35:43,320 --> 00:35:45,960
Speaker 1: United States Senate? Uh, it's the only kind of thing

582
00:35:46,160 --> 00:35:49,080
Speaker 1: Republican on Republican crime. So we'll wait to see how

583
00:35:49,080 --> 00:35:51,160
Speaker 1: this all works out. It's going to be very fascinating.

584
00:35:51,400 --> 00:35:54,600
Speaker 1: But I would think this process actually nerves to the

585
00:35:54,680 --> 00:35:58,480
Speaker 1: benefit of Lisa Murkowski. I I think that is probably

586
00:35:58,480 --> 00:36:01,520
Speaker 1: safe to say. And remember the Senator Murkowski has one

587
00:36:01,920 --> 00:36:04,239
Speaker 1: even in stranger ways, She's the one who ran the

588
00:36:04,880 --> 00:36:08,680
Speaker 1: write in campaign successfully for the Senate after losing her

589
00:36:08,719 --> 00:36:12,880
Speaker 1: primary in one of her earlier earlier elections. That's it

590
00:36:12,960 --> 00:36:16,280
Speaker 1: for us today. Thank you again to our guests. Congressman

591
00:36:16,440 --> 00:36:20,719
Speaker 1: French Hill, Republican from Arkansas, Michael Steele, former r n

592
00:36:20,840 --> 00:36:23,520
Speaker 1: C chairman turned uh. Maybe he doesn't want me to

593
00:36:23,560 --> 00:36:27,520
Speaker 1: say anti Trump, but critical of Trump certainly. Rick Davis,

594
00:36:27,800 --> 00:36:31,960
Speaker 1: Genie she in Zano, he points today, good discussion. I'm

595
00:36:32,040 --> 00:36:34,360
Speaker 1: Jack Fitzpatrick. This is Bloomberg