Trump Picks Key Trade Official; Israel-Hezbollah Temporary Ceasefire

Bloomberg Audio Studios, Podcasts, Radio News. 0:00:09.320 --> 0:00:13.680 Good Morning, I'm Nathan Hagen, and now I'm Lak Samitello, Lisa. 0:00:13.760 --> 0:00:17.079 We begin with President ELEC. Donald Trump continuing to fill 0:00:17.079 --> 0:00:20.959 out his new administration. He's tapped Jamison Greer as US 0:00:21.079 --> 0:00:24.480 trade Representative. We get the details from Bloomberg's Doug Prisner. 0:00:24.600 --> 0:00:27.840 The selection of Greer highlights the central role tariffs will 0:00:27.840 --> 0:00:31.160 play in Trump's economic agenda. He's a longtime protege of 0:00:31.280 --> 0:00:34.600 Robert Leittheiser. Andy was involved in Trump's first term trade 0:00:34.680 --> 0:00:39.159 policy decisions, including steep duties on China and the negotiations 0:00:39.159 --> 0:00:42.360 for a partial trade deal with Beijing, concluded shortly before 0:00:42.400 --> 0:00:45.600 the outbreak of the pandemic. Greer is now expected to 0:00:45.600 --> 0:00:49.680 play a pivotal role in implementing the President elect's tariff plans, 0:00:49.720 --> 0:00:53.440 including twenty five percent levies on Canadian and Mexican goods, 0:00:53.680 --> 0:00:56.680 as well as an additional ten percent on existing Chinese 0:00:56.680 --> 0:00:59.440 tariffs in New York. I'm Doug Prisner, Bloomberg Radio. 0:00:59.560 --> 0:01:02.720 Thanks to Trump has also made another key nomination. Sources 0:01:02.720 --> 0:01:06.240 say he's selected Kevin Hasset to lead the National Economic Council. 0:01:06.440 --> 0:01:08.240 We get more from Bloomberg's Brendan Murray. 0:01:08.319 --> 0:01:12.399 Asset was head of Trump's Council of Economic Advisors in 0:01:12.440 --> 0:01:14.440 his first White House, So this is the sort of 0:01:14.520 --> 0:01:18.360 economic think tank behind the White House's policy decisions that 0:01:18.400 --> 0:01:22.200 he would have been involved in designing the tariff rollout 0:01:22.280 --> 0:01:25.520 in the first Trump administration, trying to make sure that 0:01:25.600 --> 0:01:28.960 the products that we had tariffs imposed on them didn't 0:01:29.000 --> 0:01:32.520 become inflationary, So trying to be very selective in that process. 0:01:32.520 --> 0:01:36.840 Bloomberg's Brendan Murray says Hazard's appointment does not require Senate confirmation. 0:01:37.160 --> 0:01:37.200 No. 0:01:37.319 --> 0:01:40.520 Lisa, Kevin Hassett and Jamison Greer are just part of 0:01:40.600 --> 0:01:44.080 the latest flurry of staffing announcements from President tole. Like Trump, 0:01:44.120 --> 0:01:47.160 He's also named Vince Haley to lead the Domestic Policy Council. 0:01:47.440 --> 0:01:50.320 That office is likely to weigh in on immigration, urban crime, 0:01:50.360 --> 0:01:53.840 and education. Trump is top private investor John Feelin to 0:01:53.880 --> 0:01:56.240 be the next Secretary of the Navy, and he's picked 0:01:56.360 --> 0:01:59.800 Jay bout At Chatria to lead the National Institutes of Health. 0:02:00.000 --> 0:02:03.120 Lout At Sharia is a Stanford professor who is called 0:02:03.200 --> 0:02:06.960 COVID lockdowns the biggest public health mistake we've ever made, 0:02:07.400 --> 0:02:07.800 and Nathan. 0:02:07.840 --> 0:02:10.480 The latest Trump picks follow his selection earlier this week 0:02:10.480 --> 0:02:14.400 of Scott Besson, dies Treasury Secretary. Bloomberg opinion columnists Bill 0:02:14.520 --> 0:02:17.720 Dudley says Besson will be key in communicating with Trump 0:02:17.720 --> 0:02:20.280 on the impact some of his policies may have on 0:02:20.320 --> 0:02:20.760 the market. 0:02:20.960 --> 0:02:23.800 I think you can explain very clearly the consequences of 0:02:23.880 --> 0:02:27.160 not having good set up policies in terms of what 0:02:27.240 --> 0:02:30.200 that means for the budget deficit path, the consequences for 0:02:30.280 --> 0:02:33.280 interest rates, and if interest rates go up, the consequences 0:02:33.320 --> 0:02:36.000 of interest rates for broader markets, including the stock market. 0:02:36.080 --> 0:02:36.200 Now. 0:02:36.200 --> 0:02:39.560 Bloomberg opinion columnist Bill Dudley says Best will face two 0:02:39.600 --> 0:02:43.040 big challenges ensuring that the world's largest government debt market 0:02:43.080 --> 0:02:46.679 functions properly and pursuing a fiscal policy that doesn't send 0:02:46.720 --> 0:02:48.800 the country's debt service costs soaring. 0:02:49.080 --> 0:02:49.480 Polisa. 0:02:49.560 --> 0:02:52.359 Donald Trump's threat of tariffs on Canada's prompting a warning 0:02:52.360 --> 0:02:55.280 from Goldman. Sacks, the bank's head of commodities Research, says 0:02:55.320 --> 0:02:57.799 a twenty five percent levy on Canadian imports would have 0:02:57.919 --> 0:03:02.760 significant consequences for consumers, would probably raise fuel prices in 0:03:02.840 --> 0:03:06.000 the US. The US imports almost four million barrels of 0:03:06.000 --> 0:03:08.480 Canadian oil per day, and that allows American. 0:03:08.080 --> 0:03:10.200 Producers to export more of their crude. 0:03:10.639 --> 0:03:13.880 Still, Goldman says Trump's tear threat could be a negotiating tool. 0:03:13.960 --> 0:03:14.080 Well. 0:03:14.120 --> 0:03:16.799 Now to the latest from the Middle East, as ceasefire 0:03:16.880 --> 0:03:19.920 underway in Lebanon, Israel and has Blah have paused a 0:03:20.000 --> 0:03:23.440 fourteen month conflict that's killed thousands and forced more than 0:03:23.440 --> 0:03:26.560 a million people to flee their homes. President Biden says 0:03:26.600 --> 0:03:29.120 he hopes the truce will lead to a permanent end 0:03:29.160 --> 0:03:29.720 to the fighting. 0:03:30.080 --> 0:03:33.280 Samalis on both sides will soon be able to safely 0:03:33.320 --> 0:03:36.920 return to their communities and began to rebuild their homes, 0:03:37.320 --> 0:03:41.920 their schools, their farms, their businesses, and their very lives well. 0:03:41.960 --> 0:03:44.920 President Biden spoke from the White House, Rose Garden, Bloomberg, 0:03:44.960 --> 0:03:47.640 Stewart Livingstone. Wallace has more on the agreement. 0:03:47.800 --> 0:03:50.480 It's initially a sixty day ceasefire in basing to give 0:03:50.520 --> 0:03:52.600 them a little bit of room or breathing space to 0:03:52.600 --> 0:03:54.920 get something a bit more comprehensive. But it's back to 0:03:55.600 --> 0:03:58.120 exactly what we've been discussing now for several weeks, which 0:03:58.200 --> 0:04:02.000 is something resembling this un resolution from fourteen years ago 0:04:02.080 --> 0:04:05.920 or thereabouts eighteen years goesn't it? And that is going 0:04:05.960 --> 0:04:07.920 to be much tougher to get hold of and to 0:04:08.000 --> 0:04:10.720 grasp and to get some sort of agreement on Bloomberg. 0:04:10.800 --> 0:04:13.920 Stewart Livingston Wallace says the truth came after a flory 0:04:14.000 --> 0:04:17.360 of shuttle diplomacy from President Biden's top Middle East envoy. 0:04:17.640 --> 0:04:22.400 It drew objections from hardliners and Israeli Prime Minister Benjamin Netanyahu's. 0:04:21.680 --> 0:04:24.320 Coalition turin the markets, now, Lisa stocks, you're going to 0:04:24.360 --> 0:04:27.599 enter this Thanksgiving Day holiday in record fashion. Equities have 0:04:27.640 --> 0:04:32.040 gained for seven straight sessions. Amanda Agatti, chief investment officer 0:04:32.040 --> 0:04:35.480 at PNC, says investors should keep putting their money to work. 0:04:36.080 --> 0:04:38.839 It's better to stay fully invested and ride some of 0:04:38.880 --> 0:04:42.400 this volatility wave than have this fomo kind of fear 0:04:42.400 --> 0:04:45.279 of missing out and sitting on the sidelines. This market 0:04:45.360 --> 0:04:48.240 wants to move higher, and so you know, in the 0:04:48.320 --> 0:04:51.000 absence of a lot of policy clarity, I think the 0:04:51.040 --> 0:04:53.680 momentum will continue to carry the market into the new year. 0:04:53.880 --> 0:04:56.160 PNC's Amanda A. Gatti notes the S and P five 0:04:56.240 --> 0:05:00.400 hundred notched it's fifty second record of the year yesterday, and. 0:05:00.400 --> 0:05:02.400 Nathan some stocks on the move this morning, and a 0:05:02.440 --> 0:05:05.000 couple of tech firms taking a big hit. Shares of 0:05:05.080 --> 0:05:09.160 Dell down twelve percent, the company's PC business revenue will 0:05:09.160 --> 0:05:13.000 it missed analyst estimates, and shares of HP down ten percent. 0:05:13.360 --> 0:05:16.600 Sales and its PC unit rose almost missed projections. 0:05:16.839 --> 0:05:19.480 Yeah, we're keeping an eye on crowd Strike shares as well, Lisa. 0:05:19.520 --> 0:05:22.359 They are down more than five percent. The cybersecurity software 0:05:22.400 --> 0:05:25.160 firm issued a fourth quarter earnings forecast, falling short of 0:05:25.160 --> 0:05:29.400 investor expectations. It is the company's second miss sense of 0:05:29.480 --> 0:05:33.560 flawed crowd Strike update crash. Millions of devices operating on 0:05:33.640 --> 0:05:37.440 Microsoft's Windows systems back in the summer, and investors are getting. 0:05:37.200 --> 0:05:39.919 A slew of economic reports and digests ahead of the 0:05:40.000 --> 0:05:43.320 Thanksgiving Day holiday. They include a key reading on inflation. 0:05:43.520 --> 0:05:46.760 We get a preview from Bloomberg's Michael McKee and Washington. 0:05:46.640 --> 0:05:50.760 Economists get there Thanksgiving cornucopia Today twenty four count of 0:05:50.880 --> 0:05:54.840 twenty four economic indicators will be released. Given Thursday as 0:05:54.880 --> 0:05:58.800 a national holiday, and Friday is essentially one the statistical 0:05:58.800 --> 0:06:01.800 agencies have moved every thing to today. The star of 0:06:01.839 --> 0:06:04.880 the show is the October PCE report at ten am 0:06:04.920 --> 0:06:08.839 Wall Street Time headline and core inflation expected to rise 0:06:08.920 --> 0:06:13.000 in the fed's key price indicator. Consumer spending expected to 0:06:13.120 --> 0:06:16.520 ease a bit. Little change is forecast for jobless claims 0:06:16.520 --> 0:06:20.320 as the labor market remains relatively tight, but capital goods 0:06:20.440 --> 0:06:23.520 orders are likely to reflect a slowdown in business investment. 0:06:23.800 --> 0:06:30.760 Michael McKee, Bloomberg Radio. 0:06:28.720 --> 0:06:29.919 And Time Now for a look at some of the 0:06:29.920 --> 0:06:32.520 other stories making news in New York and around the world. 0:06:32.600 --> 0:06:34.640 For that, we're joined by Bloomberg's John Tucker. 0:06:34.680 --> 0:06:37.599 Good Morning John, Good Morning Lisa. The weather, traffic, and 0:06:37.640 --> 0:06:40.279 other factors could slow American's effort to get to their 0:06:40.320 --> 0:06:44.400 Thanksgiving destinations. Millions expected to fly and hit the roads. 0:06:44.600 --> 0:06:47.520 This all comes as the TSA expects to screen more 0:06:47.560 --> 0:06:51.720 than two point nine million air travelers today. Elisa Farmstein 0:06:51.839 --> 0:06:53.240 is a TSA spokesperson. 0:06:53.800 --> 0:06:56.760 In the twenty three years TSA has been in existence, 0:06:57.160 --> 0:07:00.040 the top ten busiest days in our history of what 0:07:00.160 --> 0:07:03.120 happened this year, all since Memorial Day weekend and then 0:07:03.200 --> 0:07:06.560 on July seventh, we broke three million for the first time. 0:07:06.839 --> 0:07:09.000 So we screened three million people for the very first 0:07:09.000 --> 0:07:12.800 time July seventh. It's possible that we might do that 0:07:13.040 --> 0:07:14.480 just again on Sunday. 0:07:14.800 --> 0:07:17.360 But it's not the weather causing problems so far, it's 0:07:17.400 --> 0:07:20.560 a lack of staffing. Last night, flights at Newark Airport 0:07:20.560 --> 0:07:23.800 in New Jersey were delayed after the FAA issued a 0:07:23.840 --> 0:07:28.160 ground delay because of an air traffic controller shortage. Law 0:07:28.240 --> 0:07:31.560 enforcement officials say a shoplifting ring that's stole nearly two 0:07:31.560 --> 0:07:34.600 million dollars in clothes and beauty products from Macy's and 0:07:34.640 --> 0:07:37.320 other well known stories in the US and then sold 0:07:37.320 --> 0:07:41.200 them has not been busted. The story from Bloomberg's Charlie Pellan. 0:07:41.400 --> 0:07:45.040 Queen's DA Melenda Katz says five New Yorkers have been 0:07:45.120 --> 0:07:50.120 charged with felony, possession of stolen property, conspiracy, and other 0:07:50.280 --> 0:07:54.040 related crimes. According to New York Governor Kathy Hokel, who 0:07:54.160 --> 0:07:58.200 joined the DA and other law enforcement officials in Queens Nationally, 0:07:58.320 --> 0:08:02.200 businesses lose roughly one hundred billion dollars and the average 0:08:02.240 --> 0:08:05.760 family pays five hundred dollars more a year because of 0:08:05.800 --> 0:08:09.560 the impact of organized retail theft in New York. Charlie 0:08:09.560 --> 0:08:10.960 Pellett's Bloomberg Radio. 0:08:11.120 --> 0:08:14.239 Australia's House of Representatives today passed a bill that would 0:08:14.240 --> 0:08:18.480 ban children younger than sixteen from social media, leading it 0:08:18.520 --> 0:08:21.120 to the Senate to finalize the world's first such law. 0:08:21.400 --> 0:08:23.880 The major parties back the bill that would make platforms 0:08:23.960 --> 0:08:28.760 including TikTok, Facebook, Snapchat, Reddit, Ax, and Instagram liable for 0:08:28.880 --> 0:08:31.920 fines of up to thirty three million dollars for failures 0:08:31.960 --> 0:08:35.760 to prevent young people from holding accounts. Global News twenty 0:08:35.760 --> 0:08:38.080 four hours a day, whenever you want it with Bloomberg News. 0:08:38.080 --> 0:08:38.400 Now. 0:08:38.520 --> 0:08:41.480 I'm John Tucker. This is Bloomberg, Lisa. 0:08:41.640 --> 0:08:49.640 Thanks John. All right, Tie, now for our Bloomberg Sports update. 0:08:49.679 --> 0:08:51.400 For that, we bring in John stash Hour. 0:08:51.440 --> 0:08:52.760 Hey there, John, Hey Lisa. 0:08:52.800 --> 0:08:55.040 When we last saw the Dodgers, they were winning the 0:08:55.080 --> 0:08:58.960 World Series despite a depleted rotation. So sure enough, first 0:08:58.960 --> 0:09:01.400 free agent signu of THEUDIS season has the Dodgers adding 0:09:01.400 --> 0:09:04.800 a starting pitcher. Two times Cy Young winner Blake Snell 0:09:04.920 --> 0:09:07.440 goes to LA for five years, one hundred and eighty 0:09:07.480 --> 0:09:09.920 two million dollars. The World champs seem to have an 0:09:10.000 --> 0:09:13.240 endless supply of cash. They are also in on Juan Soto, 0:09:13.720 --> 0:09:16.160 along with the Mets, Yankees, Red Sox, and Blue Jays. 0:09:16.160 --> 0:09:18.160 Only two weeks left for the College football regular season, 0:09:18.200 --> 0:09:21.600 the Playoff Committee out with what the expanded twelve team 0:09:21.640 --> 0:09:22.480 field would look like. 0:09:22.520 --> 0:09:22.720 Now. 0:09:22.760 --> 0:09:26.719 Indiana stays in despite its loss at Ohio State. Arizona 0:09:26.800 --> 0:09:29.640 State is now the Big twelve team that's in. The 0:09:29.679 --> 0:09:33.560 four teams they would get first round byes would be Oregon, Texas, Miami, 0:09:33.640 --> 0:09:37.560 and Boise State. Auburn and Alabama plays Saturday. Their basketball teams, 0:09:37.559 --> 0:09:40.640 both ranked in the top ten, beat ranked teams. Bama 0:09:40.679 --> 0:09:43.839 took down Houston in overtime, Auburn beat North Carolina. Also 0:09:44.000 --> 0:09:47.200 top rank Kansas got by Dukes seventy five seventy two 0:09:47.240 --> 0:09:50.400 and second rank Yukon, who went thirty seven and three 0:09:50.480 --> 0:09:53.320 last year, suffered at second one point loss in as 0:09:53.360 --> 0:09:57.120 many days, upset by Colorado. Rutgers got thirty six points 0:09:57.120 --> 0:09:59.840 from star freshman Dylan Harper in an eighty five eighty 0:09:59.840 --> 0:10:02.760 five win over Notre Dame. The Giants lead today for 0:10:02.840 --> 0:10:05.640 Dallas play the Cowboys tomorrow, just four days after the 0:10:05.679 --> 0:10:08.920 blowout loss to Tampa Bay that caused two Giants, Malik 0:10:08.920 --> 0:10:12.000 Neighbors and Dexter Lawrence, to term the Giants as soft. 0:10:12.440 --> 0:10:15.200 Lawrence had more to say on that yesterday. 0:10:15.160 --> 0:10:17.480 About the soft thing I think you guys need to 0:10:17.520 --> 0:10:20.120 be held accountable for how you put it out there. 0:10:20.320 --> 0:10:24.160 I didn't call any I didn't say we are soft 0:10:24.240 --> 0:10:26.640 as a team. I think I said we played that way. 0:10:27.280 --> 0:10:31.000 We lost thirty to seven. That's not okay. We're in 0:10:31.040 --> 0:10:31.520 the NFL. 0:10:31.640 --> 0:10:33.880 Giants unsure if Tommy Devido will be able to play 0:10:33.880 --> 0:10:36.880 tomorrow due to arms soreness. If he can't go, Drew 0:10:36.960 --> 0:10:39.760 Locke will be the giants third different starting QB in 0:10:39.760 --> 0:10:42.600 the last three games. John stash All wear Bloomberg Sports, 0:10:42.600 --> 0:10:43.640 Lisa and Nathan. 0:10:45.480 --> 0:10:49.640 Coast to Coast on Bloomberg Radio, nationwide on Sirius XM, 0:10:49.720 --> 0:10:52.600 and around the world on Bloomberg dot Com and the 0:10:52.679 --> 0:10:56.079 Bloomberg Business app. This is Bloomberg Daybreak. 0:10:56.160 --> 0:10:57.520 Good morning, I'm Nathan Hagar. 0:10:57.679 --> 0:11:00.520 Donald Trump continues to fill out his economic team. His 0:11:00.679 --> 0:11:04.240 latest picks Kevin Hassett to lead the National Economic Council 0:11:04.679 --> 0:11:09.560 Jamison Greer as US Trade Representative. These latest nominations come 0:11:09.600 --> 0:11:12.400 after the latest threat of tariffs from the President elect 0:11:12.440 --> 0:11:16.040 on China, Canada, and Mexico. Way League Global Chief Investment 0:11:16.080 --> 0:11:18.920 Strategistic Blackrock says investors are watching. 0:11:19.080 --> 0:11:25.120 Market's hoping for bilateral negotiation type of tariff announcement. But 0:11:25.200 --> 0:11:28.520 if we get close to a place where we're talking 0:11:28.559 --> 0:11:31.080 about across the board to tariff's, I think that would 0:11:31.120 --> 0:11:33.800 be a week up four call for risk assets, for 0:11:33.880 --> 0:11:36.000 equities and credit alike. 0:11:36.280 --> 0:11:39.280 That's why Lee at Blackrock joining us now. Terry Haynes, 0:11:39.400 --> 0:11:43.640 the founder of Pangaea Policy in Washington, TC. Terry, good morning. 0:11:43.840 --> 0:11:47.120 Is the President elect giving investors more policy clarity with 0:11:47.200 --> 0:11:48.680 his latest picks? 0:11:50.240 --> 0:11:53.000 Good morning, Nathan, And yeah, I think he is. You 0:11:53.160 --> 0:11:57.720 have Hasset and nec is, among other things, a familiar 0:11:57.720 --> 0:12:01.839 face and somebody who's not only a Trump loyalist, but 0:12:03.000 --> 0:12:06.120 somebody that's been around the block with markets for a while. 0:12:06.880 --> 0:12:12.120 Greer is of course very much in the mold of Lightthheiser, 0:12:12.120 --> 0:12:15.839 who was USTR in the first administration. So I think 0:12:15.880 --> 0:12:19.079 the signal market should should take away from this is 0:12:20.640 --> 0:12:24.760 seriousness and pretty much what they expected. There will continue 0:12:24.840 --> 0:12:27.319 to be, you know, the three questions that surround the 0:12:27.360 --> 0:12:31.040 Trump administration on economic policy. You know, you're starting to 0:12:31.040 --> 0:12:36.800 get the tariff's question answered unsurprisingly, and second second question, 0:12:36.920 --> 0:12:40.559 the third question about tax and fiscal remain unanswered. 0:12:41.679 --> 0:12:44.760 So where does the priority lie? We did hear from 0:12:44.840 --> 0:12:49.280 Presidental like Trump talking about tariffs yesterday with Jamison Greer 0:12:49.360 --> 0:12:52.640 coming in as us t R is a sixty percent 0:12:52.720 --> 0:12:55.480 tariff on China that he talked about on the campaign 0:12:55.480 --> 0:12:56.720 trail still on the table. 0:12:58.040 --> 0:13:00.760 I imagine it's on the table. Sure, I don't think I 0:13:00.760 --> 0:13:05.000 would look for that immediately. You know the You know, 0:13:05.080 --> 0:13:09.280 markets tend to whipsaw back and forth. Is Trump serious? 0:13:09.600 --> 0:13:13.640 Will best and talk sense into him? And the answer 0:13:13.760 --> 0:13:16.160 to you know, the either or there is yes. The 0:13:16.200 --> 0:13:19.640 answer is both. Markets should not think this is all 0:13:19.679 --> 0:13:23.040 one thing or all the other thing. What I do think, though, 0:13:23.240 --> 0:13:26.840 is that you have a situation where the president is 0:13:27.760 --> 0:13:32.480 clearly intends to want to use tariff threats to manage 0:13:32.559 --> 0:13:35.720 the border for among other things, and get international cooperation. 0:13:36.160 --> 0:13:38.360 And at the same time, I think what you should 0:13:38.360 --> 0:13:42.640 look for, and I think bestiness selection confirms this is 0:13:42.720 --> 0:13:45.280 you should look for a more gradualist approach on the 0:13:45.440 --> 0:13:48.400 kind of heavy tariffs that you mentioned, in no small 0:13:48.400 --> 0:13:52.240 part because it's got to fit into an overall economic vision. 0:13:52.679 --> 0:13:55.439 I think the mistake markets make is that they look 0:13:55.480 --> 0:13:58.760 at tariffs very much in a silo in a vacuum, 0:14:00.080 --> 0:14:03.000 without looking at what the rest of the economic policy 0:14:03.080 --> 0:14:06.120 might be. To my mind, Trump is somebody that wanted 0:14:06.120 --> 0:14:09.600 to fix and improve the economy. He doesn't do that 0:14:10.000 --> 0:14:13.800 by pursuing a maximalist tariff policy right at the beginning. 0:14:13.760 --> 0:14:16.600 And what influence does Kevin Hassett have on that broader 0:14:16.679 --> 0:14:22.200 economic vision, particularly with the championing of tax cuts that 0:14:22.280 --> 0:14:24.720 we saw from Kevin Hassett in his previous role at 0:14:24.720 --> 0:14:26.240 the Council of Economic Advisors. 0:14:26.960 --> 0:14:29.280 Well, I think it's a I think it's a veteran. 0:14:29.520 --> 0:14:32.000 You know, you when you pick a veteran, you know, 0:14:32.080 --> 0:14:36.880 for Trump, it is a sign of a sign of 0:14:36.920 --> 0:14:40.800 respect and a sign of continuity. So you know you've 0:14:40.840 --> 0:14:44.400 got that. Secondly, because you've got a veteran who Trump 0:14:44.400 --> 0:14:48.600 apparently trusts, you know, otherwise they wouldn't be brought back, 0:14:48.640 --> 0:14:52.440 you know, see Mike Pompeo for example. Then what you 0:14:52.600 --> 0:14:55.800 have is a situation where hast not only has an 0:14:55.840 --> 0:14:59.440 independent voice at the National Economic Council, but that he 0:15:00.000 --> 0:15:03.760 you can serve as a moderating voice between Bessett and Lutnik, 0:15:04.200 --> 0:15:06.560 who might well have we don't know this yet, who 0:15:06.640 --> 0:15:10.320 might well have different visions about how to proceed. And 0:15:10.880 --> 0:15:15.280 there's at least reported some personal antipathy between those two people. 0:15:15.840 --> 0:15:18.080 So Hassett very much serves as a fulcrum on the 0:15:18.120 --> 0:15:20.960 policy and does so. Sitting in the White House just. 0:15:20.920 --> 0:15:23.320 Thirty seconds left, Terry, is there still room for Robert 0:15:23.400 --> 0:15:25.120 Leiitheiser in this economic team? 0:15:26.120 --> 0:15:31.720 I tend to look at Greer as the Lightheiser pick, 0:15:32.440 --> 0:15:35.080 So you know, I think, you know, I would never 0:15:35.160 --> 0:15:39.240 count Whiteheiser out on this clearly as the President's trust. 0:15:39.880 --> 0:15:42.480 But I look at Greer at USTR anyway as very 0:15:42.560 --> 0:15:46.360 much somebody that is kind of kind of the next 0:15:46.400 --> 0:15:47.600 generation Lightheiser. 0:15:47.680 --> 0:15:50.680 This is Bloomberg day Break, your morning podcast on the 0:15:50.680 --> 0:15:54.160 stories making news from Wall Street to Washington and beyond. 0:15:54.240 --> 0:15:55.080 Look for us on. 0:15:55.000 --> 0:15:59.040 Your podcast feed by six am Eastern each morning, on Apple, Spotify, 0:15:59.280 --> 0:16:00.520 or anywhere else listen. 0:16:00.600 --> 0:16:03.200 You can also listen live each morning starting at five 0:16:03.280 --> 0:16:06.160 am Wall Street time on Bloomberg eleven three to zero 0:16:06.200 --> 0:16:08.920 in New York, Bloomberg ninety nine to one in Washington, 0:16:08.960 --> 0:16:12.840 Bloomberg ninety two nine in Boston, and nationwide. I'm Sirius 0:16:13.040 --> 0:16:14.920 XM Channel one twenty one plus. 0:16:14.960 --> 0:16:17.520 Listen coast to coast on the Bloomberg Business app Now 0:16:17.520 --> 0:16:20.520 with Apple CarPlay and Android Auto Winterfaces. 0:16:20.680 --> 0:16:23.760 And don't forget to subscribe to Bloomberg News Now. It's 0:16:23.800 --> 0:16:26.600 the latest news, whenever you want it in five minutes 0:16:26.720 --> 0:16:31.240 or less. Search Bloomberg News Now on your favorite podcast platform. 0:16:30.840 --> 0:16:32.560 To stay informed all day long. 0:16:32.880 --> 0:16:34.120 I'm Nathan Hager and. 0:16:34.080 --> 0:16:36.880 I'm Lisa Matteo. Join us again tomorrow morning for all 0:16:36.960 --> 0:16:39.040 the news you need to start your day, right here 0:16:39.040 --> 0:16:40.280 on Bloomberg Daybreak