Trump Says China Deal Possible; NYC Congestion Pricing Heads to Court

Bloomberg Audio Studios, Podcasts, radio news. 0:00:10.240 --> 0:00:10.799 Good morning. 0:00:10.840 --> 0:00:13.680 I'm Nathan Hager and I'm Karen Moscow. Here are the 0:00:13.720 --> 0:00:15.160 stories we're following today. 0:00:15.280 --> 0:00:18.280 Karen, we begin with a possible easing of tensions between 0:00:18.320 --> 0:00:21.640 the US and China. President Trump says a new trade 0:00:21.720 --> 0:00:25.040 deal with China as possible, weeks after he imposed tariffs 0:00:25.040 --> 0:00:28.000 on the country's imports. Speaking to reporters on Air Force One, 0:00:28.120 --> 0:00:30.960 the President praised China's sshijinping. 0:00:30.920 --> 0:00:33.440 It's possible, but well, we did a great trade deal 0:00:33.440 --> 0:00:33.960 with China. 0:00:34.040 --> 0:00:34.440 We did it. 0:00:34.720 --> 0:00:37.640 Great for the farmers, great for manufacturers. They had it 0:00:37.680 --> 0:00:40.280 by fifty billion dollars worth of our product, and we 0:00:40.360 --> 0:00:43.120 were making them by it. The problem is that Biden 0:00:43.159 --> 0:00:45.159 didn't push them to it. Here to it. 0:00:45.479 --> 0:00:48.480 President Trump didn't outline the parameters of a potential deal. 0:00:48.520 --> 0:00:52.199 Any agreement would face significant obstacles. His comments come a 0:00:52.280 --> 0:00:56.040 day after he hinted at new global tariffs on cars, semiconductor, 0:00:56.080 --> 0:00:57.600 and pharmaceutical imports. 0:00:58.040 --> 0:01:01.040 Well, Nathan, President Trump appears to be earning further against 0:01:01.200 --> 0:01:05.480 Ukrainian President Vladimir Zolensky. First, the President did not invite 0:01:05.480 --> 0:01:09.040 the Ukraine to negotiations with Russia. On ending the war. Now, 0:01:09.040 --> 0:01:12.360 Trump is calling Zelenski a dictator without elections after the 0:01:12.440 --> 0:01:16.480 Ukrainian leader accused him of falling for Russian propaganda. The 0:01:16.520 --> 0:01:19.520 president has heard here on Bloomberg Radio, discussed the war 0:01:19.640 --> 0:01:22.560 at the Future Investment Initiative summit in Miami. 0:01:22.920 --> 0:01:26.160 Europe has failed to bring peace, and Zolensky probably wants to. 0:01:26.240 --> 0:01:28.400 Maybe he wants to keep the gravy train going. I 0:01:28.400 --> 0:01:30.360 don't know what's the problem, but he hasn't been able. 0:01:30.360 --> 0:01:33.080 He's very upset that he wasn't invited. He could have 0:01:33.200 --> 0:01:35.240 come if he wanted to, but that he wasn't invited 0:01:35.240 --> 0:01:38.520 to Saudi Arabia. But he's been working for three years, 0:01:38.520 --> 0:01:41.199 has never been even meeting so phone calls to stop 0:01:41.240 --> 0:01:42.760 this war. It's a horrible thing. 0:01:43.200 --> 0:01:46.960 President Trump's turn against Zelensky leaves Ukraine with limited options. 0:01:47.000 --> 0:01:49.320 He could keep fighting with assistants from Europe, or he 0:01:49.360 --> 0:01:52.480 could accept whatever deal Trump might make with Russian President 0:01:52.560 --> 0:01:53.400 Vladimir Putin. 0:01:53.560 --> 0:01:56.639 Well Karen. President Trump is also defending his government cost 0:01:56.680 --> 0:01:59.360 cutting effort at that Miami summit. He says some of 0:01:59.400 --> 0:02:02.200 the doges savings could be passed the taxpayers. 0:02:02.440 --> 0:02:06.280 There's even under consideration a new concept where we give 0:02:06.320 --> 0:02:10.000 twenty percent of the DOGE savings to American citizens and 0:02:10.040 --> 0:02:13.239 twenty percent goes to paying down debt. Because the numbers 0:02:13.280 --> 0:02:14.600 are incredible. 0:02:14.320 --> 0:02:16.959 They're a President Trump's DOAGE team has claimed fifty five 0:02:17.000 --> 0:02:20.400 billion dollars in savings so far, its website only accounts 0:02:20.400 --> 0:02:23.399 for about eight point six billion. A twenty percent dividend 0:02:23.440 --> 0:02:26.880 on that total would amount to about eleven dollars per taxpayer. 0:02:27.360 --> 0:02:30.880 Well, Nathan, the DOGE team can now add overhauling government 0:02:30.919 --> 0:02:34.119 regulations to its cost cutting drive. President Trump has signed 0:02:34.160 --> 0:02:37.320 an executive order for all agencies to review their rules 0:02:37.560 --> 0:02:40.560 and make sure the align with the administration's policies and 0:02:40.600 --> 0:02:44.200 the DOGE effort. The President also signed a directive eliminating 0:02:44.280 --> 0:02:47.960 or minimizing a dozen federal agencies, including advisory Councils on 0:02:48.000 --> 0:02:52.000 community banks and credit unions, long COVID health equity, and 0:02:52.120 --> 0:02:55.880 Voluntary Foreign Aid, and he signed an executive action aimed 0:02:55.880 --> 0:03:00.600 at ensuring taxpayer money does not support undocumented migrants or 0:03:00.720 --> 0:03:02.280 encourage illegal immigration. 0:03:02.639 --> 0:03:06.160 Looking at geopolitics now, Karen, Secretary of State Marco Rubio 0:03:06.360 --> 0:03:10.280 is skipping the Group of Twenty Foreign Ministers meeting in Johannesburg. 0:03:10.360 --> 0:03:14.200 The move comes after Rubio criticized Hosts South Africa's policies 0:03:14.480 --> 0:03:17.600 as anti American. We get more from Bloomberg's antony squads 0:03:17.639 --> 0:03:18.760 and in Johannesburg. 0:03:19.120 --> 0:03:21.760 I think it's a huge BOQ twenties gathering of the 0:03:21.760 --> 0:03:25.560 world's biggest economies, and the US's the biggest economy. So 0:03:25.800 --> 0:03:28.120 it does mean that whatever's achieved, if it's without the 0:03:28.240 --> 0:03:31.040 US will be less meaningful. It puts it afterod of. 0:03:30.960 --> 0:03:34.880 Composition Bloomberg's antony squads, and also reports that Treasury Secretary 0:03:34.880 --> 0:03:37.200 Scott Bessant is not going to be traveling to the 0:03:37.200 --> 0:03:40.120 Group of twenty Finance ministers meeting in South Africa next week. 0:03:40.440 --> 0:03:43.080 Speaking of the Treasury Secretary, we invite you to join 0:03:43.200 --> 0:03:46.520 us at seven am Wall Street time when Scott Bessant 0:03:46.560 --> 0:03:50.040 speaks live with Bloomberg Surveillance. You can catch that conversation 0:03:50.160 --> 0:03:54.480 here on Bloomberg Radio and on the Bloomberg Podcasts YouTube page. 0:03:54.640 --> 0:03:57.320 Well, Nathan is now headed to the courts. Moments after 0:03:57.320 --> 0:03:59.880 the Trump administration said it plans to block New York 0:04:00.040 --> 0:04:03.960 City's congestion pricing program, the MTA filed a lawsuit in 0:04:04.000 --> 0:04:07.480 federal court. Here's New York Governor Kathy Hogel and remarks 0:04:07.520 --> 0:04:10.480 carried live here on Bloomberg word fight mode. 0:04:11.080 --> 0:04:16.080 Within seconds of us getting this notification, our MTA was prepared. 0:04:16.160 --> 0:04:18.680 We knew this could come foul. 0:04:18.720 --> 0:04:19.840 The lawsuit within minutes. 0:04:20.880 --> 0:04:22.800 I'm very confident will be successful. 0:04:24.040 --> 0:04:25.200 And I also want to say. 0:04:25.400 --> 0:04:27.160 The cameras are staying on in. 0:04:27.279 --> 0:04:30.480 Governor Kathy Hogel says the toll program will continue while 0:04:30.480 --> 0:04:33.719 the lawsuit plays out. The congestion pricing plan charges a 0:04:33.800 --> 0:04:37.640 nine dollars toll on most vehicles entering Manhattan neighborhoods south 0:04:37.680 --> 0:04:38.479 of Central Park. 0:04:38.720 --> 0:04:42.200 Well congestion tolling's not the only thing remaining uncertain this morning. 0:04:42.200 --> 0:04:46.440 In New York, Karen So is Mayor Eric adams political future. 0:04:46.960 --> 0:04:49.880 US District Judge Dale Hoe has yet to rule on 0:04:49.960 --> 0:04:53.479 the Justice Department's fight to end Adam's corruption case. The 0:04:53.560 --> 0:04:56.520 judge heard arguments from Adam's lawyer and a DOJ official 0:04:56.760 --> 0:05:00.120 to determine whether to sign off on the dismissal and 0:05:00.160 --> 0:05:03.799 met with opposition from Adam's political opponents and other groups. 0:05:04.120 --> 0:05:07.680 Adams was indicted in September on charges of bribery, fraud, 0:05:07.800 --> 0:05:12.159 soliciting illegal foreign campaign contributions. New York Governor Kathy Hochel 0:05:12.200 --> 0:05:14.280 has stated she's going to see what the judge decides 0:05:14.320 --> 0:05:18.360 before she makes any decisions on removing Adams from office. 0:05:18.480 --> 0:05:20.760 We turn to the markets now, Nathan and stocks once 0:05:20.800 --> 0:05:23.760 again begin the day in record territory. However, the four 0:05:23.800 --> 0:05:25.400 and a half percent rally in the S and P 0:05:25.600 --> 0:05:28.440 five hundred this year may not last long. That's according 0:05:28.440 --> 0:05:31.520 to strategists at City Group. The firm sees more near 0:05:31.680 --> 0:05:35.679 intermediate term downside risk rather than potential for an advance 0:05:35.720 --> 0:05:39.479 from Trump's policy effects. They believe investors are not yet 0:05:39.520 --> 0:05:41.960 pricing in policy disruptions to fundamentals. 0:05:42.200 --> 0:05:44.800 And this morning, Karen, we get earnings from the nation's 0:05:44.920 --> 0:05:49.480 largest retailer and biggest private sector employer. Bloomberg's Tom Busby 0:05:49.600 --> 0:05:50.279 has more. 0:05:50.520 --> 0:05:54.080 Walmart expected to report strong sales during the holiday quarter 0:05:54.120 --> 0:05:57.320 as consumer spending rows by more than expected in December. 0:05:57.560 --> 0:06:00.840 Key for investors, though it's full year projection for sales 0:06:00.880 --> 0:06:03.320 and profit in light of President Trump's tariffs and the 0:06:03.360 --> 0:06:06.480 threats of even more levies on imports. Also interest rates 0:06:06.480 --> 0:06:09.159 that will likely remain around seven percent for some time. 0:06:09.360 --> 0:06:12.160 Bloomberg consensus calls for revenue of one hundred and eighty 0:06:12.160 --> 0:06:15.599 point twenty one billion dollars earnings per share of sixty 0:06:15.600 --> 0:06:18.400 five cents. Tom buzzby Bloomberg Radio. 0:06:18.839 --> 0:06:21.279 All right, Tom, thank you all. Another stockwerre watching this 0:06:21.320 --> 0:06:25.320 morning is Pallenteer. Those sharers, they're down one point four 0:06:25.360 --> 0:06:27.919 percent right now. The drought follows a rapport that Defense 0:06:27.960 --> 0:06:32.240 Secretary Pete Hegseth plans to slash military spending. Pallenteer, which 0:06:32.279 --> 0:06:34.800 is seen at stock Sewer by almost fifty percent this year, 0:06:35.240 --> 0:06:41.360 is a major US defense contractor. Time now for a 0:06:41.360 --> 0:06:43.039 look at some of the other stories making news in 0:06:43.040 --> 0:06:44.640 New York and around the world. And for that we're 0:06:44.680 --> 0:06:47.320 joined by Bloomberg's John Tucker. John, Good morning, and. 0:06:47.279 --> 0:06:50.080 Good morning, Karen Hamas handed to the Red Cross the 0:06:50.160 --> 0:06:54.040 remains of four Israelis it had taken hostage in October 0:06:54.080 --> 0:06:57.160 of twenty twenty three. The remains were of a young mother, 0:06:57.560 --> 0:07:00.640 her two small children, ages four and nine nine months, 0:07:00.880 --> 0:07:03.600 and a man at his eighties. This return comes as 0:07:03.600 --> 0:07:06.680 the shaky Ganza truce stumbles ahead. The bodies are the 0:07:06.680 --> 0:07:09.720 first to be delivered through negotiations since the war started. 0:07:10.280 --> 0:07:13.200 President Troup maybe edging closer to being able to fire 0:07:13.320 --> 0:07:16.560 Federal Reserve Chairman Jerome Powell. Let's get that story this 0:07:16.640 --> 0:07:18.440 morning from Bloomberg's Genas Cervetti. 0:07:18.960 --> 0:07:23.080 Bloomberg Intelligence says the Federal Reserve Act requires cause for 0:07:23.160 --> 0:07:26.280 the President to oust Jerome Powell as a Federal Reserve 0:07:26.360 --> 0:07:28.720 Board member, but there's a good chance that the four 0:07:28.840 --> 0:07:32.840 cause removal restriction will be held unconstitutional for intruding on 0:07:32.880 --> 0:07:36.560 the President's executive authority. The statute says board member shall 0:07:36.600 --> 0:07:40.480 serve fourteen year terms unless removed before that four cause 0:07:40.600 --> 0:07:43.680 by the US President. The Bloomberg analysis goes on to 0:07:43.760 --> 0:07:47.040 say four cause in this context is generally thought to 0:07:47.080 --> 0:07:51.840 mean inefficiency, neglect, or malfeasance. The statute, however, articulates no 0:07:51.920 --> 0:07:55.000 such restriction for chairs or vice chairs of the Fed Board. 0:07:55.160 --> 0:07:56.960 Genas Cervetti Bloomberg Radio. 0:07:57.160 --> 0:08:01.120 Delta Airlines is offering thirty thousand dollars passenger board that 0:08:01.160 --> 0:08:04.560 regional jet that came to rest upside down after a 0:08:04.600 --> 0:08:08.160 crash landing at Toronto Airport earlier this week. A Delta 0:08:08.240 --> 0:08:11.360 spokesman says the payments are a good faith gesture that 0:08:11.400 --> 0:08:14.920 have no strings attached and does not affect rights. Two 0:08:14.960 --> 0:08:17.560 people are dead after two small planes hid in midair 0:08:17.720 --> 0:08:21.680 north of Tucson, Arizona, yesterday. Little appears to remain one 0:08:21.720 --> 0:08:24.640 of the aircraft expect to accept a burned wreckage on 0:08:24.680 --> 0:08:27.600 the desert floor. One of the planes was able to land. 0:08:27.840 --> 0:08:30.240 The NTSB and FAA are on their way to the 0:08:30.240 --> 0:08:33.520 scene to investigate, and the Vatican says this morning, Pope 0:08:33.520 --> 0:08:38.080 Francis is continuing his recovery from pneumonia, eating breakfast in 0:08:38.160 --> 0:08:41.680 bed after a sixth night in the hospital. New blood 0:08:41.720 --> 0:08:44.600 tests showed a slight improvement in some inflammation for the 0:08:44.679 --> 0:08:47.800 eighty eight year old Pontiff Global News twenty four hours 0:08:47.840 --> 0:08:50.160 a day and whenever you want it with Bloomberg News. 0:08:50.200 --> 0:08:50.440 Now. 0:08:50.640 --> 0:08:52.720 I'm John Tucker. This is Bloomberg. 0:08:52.800 --> 0:09:01.000 Karen all right, John, thank you time Enberg Sports update 0:09:01.040 --> 0:09:04.400 brought to you by Tri State OUTI. Here's John Stashauer, John, 0:09:04.440 --> 0:09:05.160 good morning. 0:09:04.920 --> 0:09:06.920 Good morning, Daron. That went for the red storm of 0:09:07.040 --> 0:09:10.040 Saint John's. This one no surprise at DePaul forty one 0:09:10.120 --> 0:09:12.760 points at each half and eighty two to fifty eight victory. 0:09:12.840 --> 0:09:16.560 Kadari Richmond seventeen points, nine rebounds, five assists. Saint John's 0:09:16.600 --> 0:09:18.679 goes to fourteen and two of the Big East Big 0:09:18.679 --> 0:09:22.080 Game Sunday with Yukon at the Garden, where tonight it's 0:09:22.120 --> 0:09:24.200 the Knicks and the Chicago Bulls were actually two to 0:09:24.280 --> 0:09:26.839 zero against the next This season, NBA returned with the 0:09:26.840 --> 0:09:28.600 game last night. It was a makeup in LA from 0:09:28.640 --> 0:09:31.360 a postponement due to the fires and an upset. Charlotte 0:09:31.360 --> 0:09:33.840 beat the Lakers and Lebron James did play despite that 0:09:33.880 --> 0:09:37.800 injury and ankle, but Luka Doncic struggled, shot five of eighteen, 0:09:38.040 --> 0:09:41.480 one of nine on three pointers, had six turnovers. Hockey 0:09:41.480 --> 0:09:43.960 tonight in Boston, US and Canada and the Four Nations 0:09:44.000 --> 0:09:47.080 faceoff final. Remember what happened between the two teams just 0:09:47.240 --> 0:09:51.120 after the opening faceoff last Saturday in Montreal. Three fights 0:09:51.120 --> 0:09:53.920 in the first nine seconds. The Rangers J. T. Miller 0:09:54.080 --> 0:09:55.360 was in one of them. 0:09:55.520 --> 0:09:57.280 After set the tell them if you let those guys 0:09:57.280 --> 0:10:00.000 come out with David flying around to start the game, 0:10:00.000 --> 0:10:02.440 I think Kennon flying around like you know, that could 0:10:02.440 --> 0:10:04.680 become a contagious and infectious thing in that building. So 0:10:04.720 --> 0:10:07.160 I just think that, you know, last game was a 0:10:07.640 --> 0:10:10.640 such a unique start because we knew we have to 0:10:10.679 --> 0:10:13.440 set the tone in the game and have our presence 0:10:13.480 --> 0:10:15.520 in the game. You know it's different this time around, 0:10:15.559 --> 0:10:17.319 but in a sense of intensity that won't change. 0:10:17.360 --> 0:10:19.360 It sounds late that the Chuck brothers will both play 0:10:19.400 --> 0:10:22.160 despite injuries in the US without defense. But Charlie mckiboy 0:10:22.240 --> 0:10:24.360 the Long Island Day have hurt his shoulder and then 0:10:24.400 --> 0:10:27.440 developed an infection, and his NHL team to Bruins said 0:10:27.440 --> 0:10:29.800 to be unhappy with the treatment he got, and Yankee 0:10:29.880 --> 0:10:32.719 camps starting Pittrick Clark Schmidt dealing with back pain. They 0:10:32.720 --> 0:10:35.600 may need Marcus Strowman after all, at least to start 0:10:35.600 --> 0:10:37.960 the season. They played soccer last night in Kansas City 0:10:37.960 --> 0:10:41.480 and below zero temperatures into Miami Top Sporting and KC 0:10:41.559 --> 0:10:44.120 in a Champions Cup Game one. Neil Lionel Messi scored 0:10:44.160 --> 0:10:46.840 the goal. They postponed the game Tuesday through the snow. 0:10:46.880 --> 0:10:49.560 A night later, they set a record the coldest ever 0:10:49.880 --> 0:10:53.199 in LS game. John Stashenwer Bloomberg Sports Canada, NY. 0:10:55.800 --> 0:10:59.920 Coast to Coast on Bloomberg Radio, nationwide, on Serious Exam 0:11:00.120 --> 0:11:02.960 and around the world on Bloomberg dot Com and the 0:11:03.000 --> 0:11:06.120 Bloomberg Business app. This is Bloomberg Daybreak. 0:11:06.360 --> 0:11:10.520 Good Morning, I'm Nathan Hager. President Trump's relations with Ukrainian 0:11:10.559 --> 0:11:14.000 President Voladimir Zelensky may have hit a new loan. After 0:11:14.200 --> 0:11:17.200 sidelining Ukraine from talks with Russia to end the war. 0:11:17.600 --> 0:11:21.240 The President is now describing Zelenski this way at a 0:11:21.240 --> 0:11:23.559 Saudi investment conference in Miami. 0:11:23.559 --> 0:11:27.600 A dictator without elections. Zelensky better move fast, or he's 0:11:27.640 --> 0:11:29.480 not going to have a country left. Got to move 0:11:29.559 --> 0:11:33.120 gotta move fast, because that war's going in the wrong direction. 0:11:33.240 --> 0:11:36.920 In the meantime, we're successfully negotiating an end to the 0:11:37.360 --> 0:11:38.480 war with Russia. 0:11:38.559 --> 0:11:42.280 President Trump spoke at the Future Investment Initiative Summit, as 0:11:42.360 --> 0:11:45.079 heard here on Bloomberg Radio. From More, we are joined 0:11:45.080 --> 0:11:49.040 by Jennifer Lawless, professor and politics chair at the University 0:11:49.040 --> 0:11:51.280 of Virginia. Jennifer, it's great to have you back with 0:11:51.360 --> 0:11:54.040 us on Bloomberg Daybreak. I wonder what you make of 0:11:54.120 --> 0:11:57.800 this rhetorical shift from the President when it comes to 0:11:58.240 --> 0:12:01.800 Ukraine's leader, what it means for the war in Ukraine. 0:12:01.800 --> 0:12:03.679 Good morning, Good morning. 0:12:04.520 --> 0:12:07.000 Well, I think that Donald Trump caught a lot of 0:12:07.040 --> 0:12:10.520 people by surprise with those remarks, not only because he's 0:12:10.559 --> 0:12:13.680 been negotiating it into the war with Russia and has 0:12:13.679 --> 0:12:16.880 not involved Ukraine at all in these negotiations, But also 0:12:16.920 --> 0:12:19.960 because of the way he's characterized Zelensky as a dictator 0:12:20.400 --> 0:12:23.319 and stated that Ukraine started the war in the first place, 0:12:23.320 --> 0:12:27.439 which is obviously not true. It's very difficult for Republicans 0:12:27.520 --> 0:12:30.199 to back up this kind of logic. It's one thing 0:12:30.200 --> 0:12:32.280 for them to say that they no longer support aid 0:12:32.320 --> 0:12:35.960 to Ukraine, it's another to embrace an alternative reality, and 0:12:35.960 --> 0:12:37.440 he's putting them in a tricky position. 0:12:38.200 --> 0:12:43.719 Aside from the potential reaction from Republican leaders in Washington, 0:12:43.880 --> 0:12:47.760 what's the political impact potentially for the president to take 0:12:47.800 --> 0:12:52.120 this stand when it comes to Ukraine with American voters. 0:12:52.679 --> 0:12:55.800 I'd say it's a difficult position with the voters as well, 0:12:55.840 --> 0:12:58.720 for a couple of reasons. The first is that anybody 0:12:58.760 --> 0:13:01.920 who's been paying attention and remember the initial footage coming 0:13:01.920 --> 0:13:06.400 out of Ukraine was incredibly compelling, and it demonstrated Russia 0:13:06.640 --> 0:13:10.400 just going in there and uprooting people. They're being asked 0:13:10.440 --> 0:13:14.320 to suspend reality. They're also being asked to embrace a 0:13:14.440 --> 0:13:17.480 US foreign policy that puts the United States on the 0:13:17.520 --> 0:13:20.360 opposite side of its allies, and I think Mike Pence 0:13:20.440 --> 0:13:23.160 actually came out yesterday and summed it up quite well 0:13:23.520 --> 0:13:25.640 when he said that this just flies in the face 0:13:25.720 --> 0:13:28.719 of what the American people know happened and what they 0:13:28.760 --> 0:13:29.760 know is the right thing to do. 0:13:30.160 --> 0:13:33.040 Aside from Mike Pence, it seems like Republicans for the 0:13:33.080 --> 0:13:36.680 most part have been rallying behind President Trump in terms 0:13:36.760 --> 0:13:41.040 of domestic politics, support for his cabinet nominees, that sort 0:13:41.080 --> 0:13:44.880 of thing. You mentioned that this could lead to cracks 0:13:44.880 --> 0:13:48.679 for Republicans when it comes to support for Ukraine. But 0:13:49.040 --> 0:13:51.880 where do you see it going in terms of how 0:13:51.960 --> 0:13:56.160 Republicans could continue to react to what they are hearing 0:13:56.160 --> 0:13:56.960 from the president. 0:13:57.640 --> 0:14:00.280 There's little to suggest that the Republicans are we to 0:14:00.280 --> 0:14:03.720 hold the President's accountable for anything he says. So my 0:14:03.960 --> 0:14:06.320 hunch is that several of them will say that they 0:14:06.520 --> 0:14:09.559 don't have this shared conception of how the war began, 0:14:10.080 --> 0:14:13.000 that they don't necessarily agree that Zelenski is a dictator, 0:14:13.240 --> 0:14:15.200 but that none of this matters because at the end 0:14:15.200 --> 0:14:17.320 of the day, this war has to end and Donald 0:14:17.360 --> 0:14:19.680 Trump is going to help end it. And that's consistent 0:14:19.720 --> 0:14:22.600 with the way they've handled a lot of domestic policy arguments. 0:14:22.640 --> 0:14:25.920 As well. They don't necessarily think Rfk is the best 0:14:25.920 --> 0:14:29.960 person to run HHS. They have concerns about Pete Hegseth's background, 0:14:30.160 --> 0:14:32.200 but at the end of the day, they believe in 0:14:32.240 --> 0:14:35.280 the overall mission and they supported the president for that reason. 0:14:35.840 --> 0:14:37.520 In the time we have left, Jennifer, I wanted to 0:14:37.560 --> 0:14:40.600 get your take as well on what we're seeing from 0:14:40.840 --> 0:14:43.880 the DOJE effort, the cost cutting in Washington, d c. 0:14:44.000 --> 0:14:46.640 And now this idea that the president's floating of a 0:14:46.920 --> 0:14:50.400 DOGE dividend twenty percent of the savings potentially, he says 0:14:50.720 --> 0:14:54.360 could go to tax payers. Is the President trying to 0:14:54.400 --> 0:14:56.360 make these cuts more politically palatable. 0:14:57.560 --> 0:14:59.920 He's literally trying to buy the support of the America 0:15:00.080 --> 0:15:02.520 people with Elon Musk, And this wouldn't be the first 0:15:02.560 --> 0:15:04.680 time they did this, or they tried to do this 0:15:04.760 --> 0:15:08.560 during the campaign. What I will say is that there's 0:15:08.560 --> 0:15:12.240 not much evidence that there's been actual savings. So if 0:15:12.280 --> 0:15:16.280 these dividend checks are issued, it's unclear where that money 0:15:16.320 --> 0:15:19.040 is coming from. It might be coming, for example, from 0:15:19.200 --> 0:15:22.760 the Medicaid cuts that the President said he would not support, 0:15:22.920 --> 0:15:26.040 that he just supported in the budget. So there's a 0:15:26.080 --> 0:15:29.480 fixed amount of money and there's no evidence to suggest 0:15:29.480 --> 0:15:32.680 that it's coming from government efficiency cuts, So issuing those 0:15:32.760 --> 0:15:35.160 checks are going to be a real cost to the 0:15:35.200 --> 0:15:35.920 American people. 0:15:36.240 --> 0:15:40.080 Just thirty seconds left. It's been a difficult process for 0:15:40.320 --> 0:15:43.880 federal workers certainly, But do you see support from the 0:15:43.920 --> 0:15:46.240 American people for this cost cutting effort. 0:15:46.840 --> 0:15:49.520 I think they'll support the cost cutting effort until they 0:15:49.560 --> 0:15:53.360 realize some of the implications of these other policy cuts 0:15:53.400 --> 0:15:57.040 that have happened. So in the abstract, everybody supports cutting 0:15:57.800 --> 0:16:02.200 federal workers, everybody supports more government efficiency. It becomes trickier 0:16:02.240 --> 0:16:05.480 for those levels of support to sustain themselves when people 0:16:05.520 --> 0:16:07.320 are actually taking a hit in their day to day 0:16:07.360 --> 0:16:09.040 lives and there's a land of back there. 0:16:09.400 --> 0:16:12.800 This is Bloomberg Daybreak, your morning podcast on the stories 0:16:12.880 --> 0:16:15.920 making news from Wall Street to Washington and beyond. 0:16:16.200 --> 0:16:18.560 Look for us on your podcast feed by six am 0:16:18.600 --> 0:16:22.040 Eastern each morning, on Apple, Spotify, or anywhere else you listen. 0:16:22.240 --> 0:16:25.080 You can also listen live each morning starting at five 0:16:25.120 --> 0:16:27.840 am Wall Street time on Bloomberg eleven three to zero 0:16:27.840 --> 0:16:30.720 in New York, Bloomberg in ninety nine to one in Washington, 0:16:30.800 --> 0:16:34.120 Bloomberg ninety two to nine in Boston, and nationwide on 0:16:34.280 --> 0:16:36.640 serious XM Channel one twenty one. 0:16:36.920 --> 0:16:39.640 Plus listen coast to coast on the Bloomberg Business App 0:16:39.680 --> 0:16:42.480 now with Apple CarPlay and Android Atuto interfaces. 0:16:42.720 --> 0:16:45.720 And don't forget to subscribe to Bloomberg News Now. It's 0:16:45.760 --> 0:16:48.480 the latest news whenever you want it in five minutes 0:16:48.560 --> 0:16:51.680 or less. Search Bloomberg News Now on your favorite podcast 0:16:51.720 --> 0:16:55.880 platform to stay informed all day long. I'm Karen Moscow. 0:16:55.680 --> 0:16:58.200 And I'm Nathan Hager. Join us again tomorrow morning for 0:16:58.240 --> 0:17:00.200 all the news you need to start your day right 0:17:00.240 --> 0:17:01.680 here on Bloomberg Dabrael