a national stage. she's cultivated relationships with world leaders. she has delivered economic relief for people across this country. she's an incredible record throughout her career of fighting for people. so they're scared. and they are going to resort to the tactics they always resort to, and they're going to resort to racist and sexist attacks. we're going to push back and do the work of amplifying her voice. we know when we do that, voters will be compelled to vote for her and we will win. kailey: while you are going to throw your support behind vice president's presidential ambitions, your wider mission is to get democratic women elected into office at all levels of the u.s. government. hank we've learned in the last 24 hours, the notion, the concern about democrats being able to retain control of theore down ballot implications had a factor in joe biden's decision, would carol harris at the top

help those vulnerable -- kamala harris at the top help those vulnerable? >> first of all, the electric energy we are feeling in the democratic party right now is incredibly helpful. it is the jolt we need to get back to a conversation we know is what is going to decide this election. we need to have a conversation with voters that is consistent and clear about the choice they are facing in this election and that is true at every level of the ballad. omit talk about the reproductive freedom, the choice they have between a ticket that is going to defend and restore those rights and donald trump and j.d. vance who enact national abortion ban, signed on for these awful state abortion bans in place right now and for those dangerous elements of project 2025, the voters are clear they will stand with us. that choice when we put it in front of voters whether we're talking about a state legislative race, u.s. race for the race for the presidency, we

know democrats will be successful of that is the conversation we are having. that is what we will do between now and november. joe: it appears marion williamson is going to take a swing at the nomination if given the opportunity. jessica says she will compute after previously leaving the spot and getting back into the race, should she be given that chance? >> this is a democracy. what we have seen in the last 24 hours is an incredible show of support for vice president harris. we have seen that from every region of the country, elected officials at all levels of the ballot, and from organizations that are in a wide range of issues and they all know what i know which is that there is no one or prepared to win this election against donald trump. there is no one who is more prepared to lead this country on day one then kamala harris. i expect she's going to be our democratic nominee and she is

going to win in november and will be in the white house this time next year. kailey: i've heard suggestions in last 24 hours if it is to be kamala harris who is leading the democratic ticket, it is going to need to be a white man on it with her to balance things out. what to think of that notion? should she be considering a woman like governor gretchen whitmer to be her vice president if she wins the nomination? >> i'm not going to put my own parameters out there for the vice president. i trust her to make the decision that is right for to choose a partner who is going to serve with her. i will say regardless of who she chooses, we know that ticket is going to provide a really clear contrast with donald trump and j.d. vance, who embrace the most extreme elements of the rib -- republican party and the maga

movement. this will be a clear choice between a ticket that is going to stand up and defend our rights and freedoms, that is going to be for better economic future for our country, and a choice between donald trump and j.d. vance -- as i said, the most dangerous elements with project 2025 and are going to take this country generally dark path. that is the choice voters will have in front of them regardless of who is on the ticket with us. that will be the choice in november. joe: i want to get back to something earlier, the change in stakes for donald trump to be debating a woman, in this case a woman of color, and lessons learned from the 2016 race in which donald trump shared a stage with hillary clinton. what do you expect to see if donald trump actually makes good on this debate appointment that he had with joe biden? i realize he might want a different venue at this point. but if something takes place, the debate between these two candidates, how does this change

the game for donald trump? >> well, i'm sure that donald trump and his team have seen what i have seen and that is a lifetime and a record of achievement from kamala harris, incredible litigator. her background as a prosecutor, we saw it in the u.s. senate on display in the judiciary committee. no one wants to be in her line of sight when it comes to having to defend a record that the american people are clear that that want -- they don't want. you have to be scared of that moment. she is new credibly effective messenger on issues. it is going to be a daunting task. she's going to litigate this incredibly effective against donald trump. trump kailey: you have mentioned reproductive freedom. it was a conversation that notably wasn't really being had in the walkie where joe and i were last week -- in milwaukee

where joe and i were last week. there was this notion the republican, especially donald trump and selecting j.d. vance as his nominee, seems to have decided not to go for suburban women coming to focus on rural areas, working-class men in particular. do you think having harris at the top of the ticket a change that strategy? and you have to capture what could be a more concerted effort with the trump campaign to go after that same base of voters? >> watching the rnc last week, i know republicans like donald trump, j.d. vance, they can read polls and don't want to talk about this issue but unfortunately for them, this is not a branding problem for them but an agenda problem. it doesn't matter where you are in this country. we have seen since the dobbs decision in red states, purple states all over this country, people believe overwhelmingly these are decisions that belong with individuals, that they

should be able to make them selves private medical decisions. these are things the government, courts should not be involved in. voters are clear on that. the problem for donald trump and j.d. vance and republicans like them up and down the ticket is you can run but you cannot hide from this. we know the records. wherever you are around the country, they are on the wrong side of this issue. joe: jessica, great to have you with us, president of emily's list, america's largest pac devoting $20 million to the kamala harris for president campaign. it is great to have you. we have two major endorsements dropping in our laps from the senate. kamala harris already had a majority of senate democrats and she adds two more. kailey: the list is getting longer including chris van hollen and also senator john

fetterman a pennsylvania who had been one of the most vocal advocates for joe biden staying in the race, now out with a post on x he is proud to be all in for the next president he says, kamala harris, attaches a picture. joe: that is a big one. he has been speaking passionately on joe biden. that is a meaningful one for kamala harris. there will probably be more developments in kamala harris's campaign as the program goes here on bloomberg tv and radio. we have another 90 minutes we will keep tabs on this but also keeping an eye on the markets. let's bring in abigail doolittle . how do things look on wall street? abigail: today's a great example of the intersection between business and politics because president joe biden dropping out of the u.s. presidential race yesterday absolutely influencing markets. investors weighing the

possibility of ep kamala harris as a candidate. some are calling it a 2024 reset. i don't think the markets are going that far but right now we do have a nice gain in contrast to last week's decline. when futures opened yesterday around 6:00 p.m. eastern, up slightly. i think investors were trying to figure it out. at one point, up more than 1%, down, up, down. there is some volatility, uncertainty. beneath the surface, always the right now we don't have "harris trade." but we can evaluate the trump trait and it is off of where it was last week. some of the big tech names are higher including nvidia, tesla. you might be able to say tesla is a nod toward trump. we will put that in the tech bucket. on the others, some of the old school stocks such as caterpillar and unitedhealth, more value trade which would be associated with the trump

ticket, that site is down. when we take a look at the predicted odds, this is pretty interesting. donald trump last week after the assassination attempt and his reaction to it took a big leap above joe biden. joe biden is still on this with a margin of error at 2%. we have donald trump at six to 1%, kamala harris at 40%. -- 61%, kamala harris at 40%. it seems anything is possible so we will have to watch this spread closely. we will be watching markets closely. kailey: abigail doolittle, thank you so much. this is something else we were discussing in our special coverage last night, thinking of the timeline. we are exactly four weeks out from the democratic convention in chicago beginning august 19, which is just weeks away from the fed's meeting in september

in which the prevailing wisdom in the markets as they're getting ready to cut rates. something i kept asking, this has injected a whole other element of political uncertainty that was not there before for the federal reserve. if the race is updated in this way, does it change the calculation as to whether or not they want to cut rates before the election knowing everything could be even more highly politicized? most of the experts we spoke with yesterday said they don't think so but it is something to consider. joe: you will hear cries of politics being at play, especially if it is a member of this administration. a little bit different when he think of an outsider coming into the race. a lot of republicans see kamala harris as just another joe biden. kailey: sa try to connect harris to a number of biden administration policies, including the border. rick davis is with us alongside jeannie. bloomberg politics contributors.

we've been talking for the better part of the last hour about the notion of vice president harris being the top of the ticket for the democrats. it is not a foregone conclusion. yet with a number of endorsements she has received with the amount of money she has raised in the last 24 hours, is this inevitable? >> i would not say anything is inevitable in this election cycle. you still have democrats, smaller and smaller to your point, who are saying democrats have a time here to have a fresh start. delegates should have the ability to make a choice. but that being said, i give it about 24, 48 hours. if we don't see a challenger come forward in that timeframe, very difficult for them to mount a campaign to win over those delegates who have already pledged to joe biden, who have now been counseled by him to pledge themselves to harris.

they could go in another direction. again, that becomes a lot harder. i would not quite say inevitable but i would say it is looking less likely like we get a challenger every hour that goes by. joe: axios is reporting a memo obtained from the trump campaign that shows they have been planning for this possibility for some time, going back to may. the word from the trump campaign manager, you can move the chairs on a sinking boat all you want, doesn't change the results. will there be a different playbook for kamala harris than joe biden? >> absolutely. they will go after her right away. i think this is the key issue for democrats. if they take the approach that jeannie just mentioned and actually think there is nomination process going on, lacked the resources and focus to get harris defined into the american public, giving donald

trump plenty of time to define her his way. it will be brutal. look what he did to ron desantis when ron desantis jim your dad announcing -- demured announcing for president. he was dead before he started. kamala harris risks the same thing. donald trump will not hesitate. he has already been going after her during the republican convention. they have a game plan in place. it has already started. there are ads ready to be made for kamala harris to be that presumptive nominee, and she needs to start acting like such. the democratic party ought to quit this fantasy that somehow there's a contest to be run. if they act that way and kill the next two or three weeks running up to the convention and not defend their candidate, she is going to be at risk of being defined completely by donald trump. kailey: she had a sense or a chance, rather, in some way, to

help define herself when she spoke from the white house in her first event since this all went down yesterday. instead, she chose about the legacy of joe biden and his honesty and integrity, how she is appreciative of his service to the country. it raises the question this notion that he is even to get back out as he recovers from covid. should kamala harris want joe biden to be campaigning alongside her as she goes through this process or is it best in your view to keep the president an arm's-length? >> obviously, there needs to be some transition. she is doing a hat bow to her president and mentor and, frankly, the reason she is the nominee is because of joe biden. but that cannot last beyond today. she needs to strike out on her own. she needs to be communicating directly to voters about what

her plans and aspirations for the country are. she needs to burnish her credentials as a prosecutor and reset this campaign. if she doesn't reset it, donald trump well. he is more than happy dad her spending the day talking about joe biden in the white house. every day the democrats continue with this kind of strategy, there losing a chance to define the selection. she is an insurgent, an underdog. she needs to play that card. the american public loves the underdog. the reality is, this is the new reset in this campaign. she is not running as an incumbent. she needs to focus her attention on the campaign. hopefully, this will be the last of her time spending in the white house. she's not winning any points with the voters standing in the white house. she needs to stand in their communities and talk about how she is going to fix the problems

that exist today. she doesn't have to blame anybody but she has to have solutions. joe: speak to the urgency of the moment rick isscibing. what should this handoff look like assuming joe biden is well enough to address the american people? will there be an oval office address tuesday, wednesday? at that point, what does he do to fend off calls to finish the rest of his term? because those are growing louder as well. i saw several republicans during morning shows today talking about the 25th amendment. how does he address the kamala harris issue and quiet the peanut gallery while he is at it? >> whether he does it from the oval office, i don't know if you will, but he is going to come out and speak. i think it makes sense for kamala harris to hold her fire, so to speak, until that moment. this needs to be seen by the voters as an orderly handover, if you will, transition.

we heard donald trump over the weekend. the more donald trump out there saying outrageous things, the kinder, gentler trump we were promised has not materialized. it may be for the first half-hour hour on thursday night, but look what he had to say over the weekend. so the more donald trump out there attacking kamala harris, the better. and this needs to be an orderly transfer. i think she waits until joe biden comes out whether it is tuesday or wednesday. behind the scenes, we know she is already working furiously. she is contacting delegates, members of congress. she is doing the right thing. you know how we know that? over $50 million in small many donations raised since joe biden made this announcement and endorsed her. so it is headed in the right direction. rick is right, there is a lot of work to be done to differentiate yourself from trump but also from joe biden. but there are clear distinctions

between both. let's start with the age issue for a moment. i think she is a little bit of time to do that. not a lot. but i think it makes sense to wait for the president to speak. by the way, the 25th amendment is absurd. joe biden said he was not going to run. he never said he was infirmed in any way and there is a big distinction. kailey: not a distinction republicans seem to be making. as you talk about the work kamala harris is already doing, she says she is heading to delaware to meet at campaign headquarters with the staff as she tries to hit the ground running and what she's describing is the first full day of her presidential campaign. if you look at what the republican ticket is doing, senator j.d. vance is going to be in virginia later today, a state we've been talking about tinsley being a tossup if joe biden was leading the democratic ticket. is that off the table?

does it take states like virginia and minnesota back off the map? >> i don't think the democrats should even dream that big. i think they have to fight for every vote. the last poll i saw in virginia was kamala harris up five over donald trump. i don't know if that still holds but that was on the backs of women and black voters. she seemed to have a slight advantage. but i think the democrats can't take any of that for granted. i think, by the way, speaking of j.d. vance, the fact that donald trump had to go first with his pick and have doubled down on maga and now we're facing kamala harris is a little bit tougher than republicans are letting on. this was going to be a fight in the rust belt. what about if she opens it to the sunbelt with a kelly or cooper sort of pull or could ge. i think they still have to ask t the age issue. kamala harris is 59 years old.

this automatically becomes an issue. if conducted the right way, to her benefit. how would you advise the campaign to turn the tables here on the 78-year-old donald trump? >> i would immediately release an ad attacking donald trump on the fact he is old and infirm. turnabout is fair play in politics. donald trump spent nearly two years attacking joe biden on his age. she would be i would say crazy not to take the same script he had and turn it on him. it is an issue the american public that he was considered too old to run by a majority of the electorate. in a large part of his own party. that is like a chip shot in golf. you want to do that all day long. i would say, too, the first thing she does is visit the campaign staff in delaware and say she is moving the campaign

out of delaware and into philadelphia. delaware come the last i heard from a state she can count on those electoral votes but she doesn't get to be president, she doesn't win pennsylvania. regardless of who she picks for vice president, she ought to relocate that campaign and that ought to be today's announcement not sometime in the future. kailey: on the subject of vice presidents, the governor of michigan gretchen whitmer just told tv station that she would not take the vice presidential nomination. so that takes out potentially one key swing state. if it is not witmer, should it be shapiro? >> it could be shapiro. it could be north carolina, arizona. there are plenty of states she needs to win. if you're looking strategically at this campaign today and let say it is a reset back to where donald trump was shortly after his convictions on 34 felony

counts, she has got to win pennsylvania, michigan, and wisconsin. we know that. if she has a shot at putting talented a -- putting a talented, young, ideological democrat on her ticket, she ought to take one of those and it makes sense witmer would take yourself out of the running. it is hard to imagine democrats would want to have a ticket with two women. certainly plausible. i would not be opposed to it. you have josh shapiro, successful governor, widely popular in a state of pennsylvania that you have to win. if she can put together a coalition of the blue wall and pick off that district in nebraska and not losing the other states -- not lose any other states that biden won in 2020, she is president.

it is not a hard formula to figure out. it is interesting j.d. vance is going to virginia. i'll bet you don't see a lot of travel over virginia in the near term. sure, they have to try to turn some of the dates. but in this reset, i bet they go back to the base and start pounding away on the same states we were just talking about. joe: this is really interesting. how long does kamala harris have to pick a running mate? >> i think she has got to be sure she is the nominee first or she has the delegates wrapped up to be the nominee. of course, we know democrats hope to do that by august 2. i think whitmer pulling herself out as a reflection we are hearing on the ground pretty clearly that whitmer and the team do not feel they would put another woman on the ticket. i think that reflects sort of assumption and a strategic decision that americans are not

prepared for a ticket of two women. maybe that won't be the case and hopefully we are more advanced than that, but that seems to be what we are hearing. that leaves people like shapiro or cooper, gavin newsom or maybe kelly. so there are still some people out there that could fill this. a lot of talent on the democratic bench. we should not forget about county governors on the democratic side to choose from step pritzker as well. if you go states, it will be shapiro or cooper or somebody like that. joe: looking ahead to the next steps. our panel will be back in our second hour of "the balance of power." stay with us on bloomberg tv and radio. ♪

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>> this is "balance of power."

kailey: welcome to "balance of power." we are getting ready to mark almost exactly 24 hours since joe biden's this tort decision to drop out of the presidential race, not seek reelection and instead throw his endorsement behind kamala harris. the list of democrats that have followed him is getting longer and longer of us every hour. joe: senator john fetterman, the most recent surprise. he was behind joe biden until the very end. speaking passionately in his defense. it gives us a sense of where this is going. a number of groups will be on the floor of the convention. this is the important part of this. what happens to the delegates? you can add illinois, north carolina, now florida as kamala harris trust to coalesce support. she