up when theres go are so many people out of work? >> the real important thing to keep in mind as we are starting a brand-new economic cycle now. >> there will be a lot of investment and spending and policies of or. >> you have a complete lack of coordination. >> central banks have locked themselves in to being stuck at their effective lower bound. >> it is not that we will not grow in 2021, is will that be enough. >> this is. >> "bloomberg surveillance." with tom keene, jonathan ferro, and lisa abramowicz. jonathan: from new york worldwide, this is "bloomberg surveillance." i am jonathan ferro alongside lisa abramovitz. tom keene is a way. he will be back tomorrow. the lustful trading week of 2020. lisa: don't say that, it will jinx everything. there are deadlines to be

talking about we get to talk about. exit again. topics.r favorite jonathan: 50 seconds into the show, you want to bring in the b-word. [laughter] lisa: we are back to that question yet again, not only with brexit, but also with respect to fiscal support in washington. the more things change, the more things stay the same. jonathan: yes, we have to deal with the reality of what will take place this week. the data. later this week, retail sales and initial jobless claims are important understand the direction and the trajectory this economy is on. just as effectively since begin, vaccination start. how much pain before we can roll this out in a big way. lisa: yeah, the idea of the here pain.w the a lot of

today, lawmakers are expected to unveil the 908 billion dollar bipartisan relief plan. parts. see it in two it is broken down into a $160 billion plan to test her about the controversial areas of state and financial aid versus the liability issues around covid. also to your point, about the split of the here and now versus the future of a vaccinated america, new york city is halting indoor dining again to stave off the spread. and today the electoral college leads to officially select resident joe biden last president. a lot of people are expecting this to put a cup on this election season. jonathan: and also the january 5

runoff elections in georgia. we also have payrolls on friday shortly after. i know we have to get through 2020, at the first week of january, he hit the ground running and running hard. good morning to you all worldwide. here is the equity market. 0.8%.p 500, 36 31, this time last year, lisa abramovitz, what do you think the year and 2020 consensus was for the s&p 500 in the survey that we do in bloomberg? what do you think the average year-end forecast was? lisa: 3400? jonathan: 3280. that was the average call on wall street on where the market would finish. we had a sneak peak of 3700 in the last week. if we told analysts these strategies on the south side what would happen, looking out

12 months, i am not sure it would have upgraded their forecast to 36, 37, 3800 on the s&p. lisa: no. talking about a global pandemic, the steepest recession since the great recession, people would not have said there would be quite a rally in the s&p. one thing that caught my eye was morgan stanley predicting central banks globally would put $2.8 trillion of additional liquidity into global markets over the next year, just to give you a sense of how much more we have and what is actually supporting this rally? jonathan: the team at morgan stanley is at 3900 on the s&p year-end 2021. peter tchir joins us now. what a couple of weeks this has been. are you leaning into this euphoria? peter: i am a little cautious. we have to get through -- i

think the band-aid stimulus in priced in. i am leading into it a little bit. i still expect a big rotation. next year i expect stimulus, but a proper stimulus where we really focus on job creation where we get a big long for the buck.- big bang for the this current stimulus is nice. but nowhere sufficient for what we need to get real economic growth? jonathan: let's get the policy call right first. the policy call this year have you on the call to get right. then you get the rest of it, lean in to the policy call, you call this an aide band-aid. it is $900 billion on offer today. is that a band-aid these days? is, weunfortunately, it have to make sure people receive some sort of compensation. this is to just keep things going, and we are not seeing

true economic spending toward rebuilding and manufacturing, fixing infrastructure, surely catch up and some us other countries on five g technology, that is what i expected next year and that is when we will get the real area this right now is really just covering up the problems coming from the resurgence in covid cases. lisa: coming up the problems. is that enough to justify the rally we had the on support potentially from washington, d.c., and potentially the end of the pandemic at some point next year? peter: that i think the market a string to figure out if we are going to make it through the struggle right now. but with vaccines and treatments improving, we will get through it. that is why even today you are starting to see some of the small caps, value stocks continue to outperform big-tech as this belief six in that will have something that resembles a normal economy. and will not be work from home necessarily, not back to the office, but there is a lot of reason for all of the --

for optimism. i think the treasury department will work well with the fed. i don't think we are mispriced. lisa: will will get to tesla. i am wondering about airbnb and doordash and some of these other ipos coming up with valuations reminiscent of the tech bubble. the idea that they doubled in price, does it give you a feeling of froth or is it reasonably valued? peter: i think that is typically ipos where you don't want to squeeze every last cent out. they are only releasing a small shares.f sounds, like a company left money on the table but the bulk of the shares will be held in reserve. i am not worried about that. there has been a lot of hyperactive trading. we see a lot of these small accounts participating. whether these prices last or not is up in the air.

again, i think this will depend on what we get in terms of policy in the air. what we have not kept about is a negative potential of policy. do we see tax increases at the corporate level? that is why some of these valuations might look frothy? jonathan: do you think that conversation comes on the table at some point in 2021? peter: we have been looking at this market as, we think congress and the senate and the president will try -- everybody has been talking about the case shaped recovery. that gets addressed. that is a positive, the stimulus. the question is the upward curve of the k. do they let that slide? for the economy, it is probably defend. for markets, it is better if they let it slide. a lot will hinge on the georgia election? jonathan: january 5, peter, is

that when you start to establish what you're your the outlook looks like after that event,? peter: right now we have a base case of some decent amount of stimulus. republicans are on board. they tend to fail to get stimulus done. of all the things i would have exempted president -- expected president trump to be good at with have been building things. that didn't get done. anything the outcome will switch how much. mix.ected to switch the i think we will see a much bigger environmental and sustainability focus if the democrats win, less so if the senate.s regain the lisa: given all the fiscal stimulus and support you are expecting next year, treasury yields, are we going to see them about 1%? how high can they possibly get? peter: i think we get them above 1% fairly quickly. thinking 1% and 1.25%. it is hard to get above 1.5%.

the federal reserve will work with the treasury department to control any rise. markets will be fine if we see a rise in treasury yields, just as long as it is not a rapid rise. to me that would really help small economies, those cyclicals, and probably less helpful for the big, large companies? jonathan: peter tchir, academy securities, have a fantastic christmas if we don't talk again. on this market. lisa abramowicz, wednesday, the fed, you asked about the question of yields going through 1%, do they give it the green light or suggest they are ready to step back in? lisa: a survey of economists talked about how they expect them to tie their increase in longer rated bond purchases to financial conditions. but everyone is expecting them to increase the length of the

bond maturities again. you have to wonder, what you're hoping to achieve at a point and you don't necessarily see financial conditions exactly tight? jonathan: i think there's a big difference between hoping to achieve something and hoping to prevent something, and i think at this point for the ecb and the federal reserve, the are hoping to prevent worst thing from happening. i think they recognize that the additional qe is not going to achieve much at all. what happens if they step away, i think we both know what happens at this went given where these markets are trading. lisa: that is a question, if they don't signal something for the bond purchase program, do people shrug it off? that is a big unknown we do not want that at the year-end? jonathan:. of globalnley head income will be joining us later this hour on bloomberg alongside lisa abramowicz.

tom keene is out of the building, taking a nice day off, a long weekend. he will be back tomorrow. futures up 28 on the s&p 500. to kick off the 2020.rading week of this is bloomberg. . >> with the first word news, i am karina mitchell. hospitals in the u.s. will start getting the coronavirus vaccine today. shipment started leaving a yesterday.ctory over the next three days, they will arrive at nearly 600 hospitals they will be given to health care workers and nursing home residents. russian government hackers reportedly hit several u.s. agencies. according to the washington post, the attack targeted systems in treasury and commerce and other government agencies. the agencies were breached through the server of a net management system

called solar wind. the electoral college's today to officially elect joe biden. bee lawmakers say today will the end of president trump's results.o overturn the electors are committed to voting for the winner of the popular vote in each state. the president has said he will continue with legal challenges. deutsche bank may eventually allow some of its 4600 employees in new york city to move elsewhere. the german lender is preparing to move operations and discussing how to allow more employees to work from home and other locations. he was a master of the spy thriller and find the moral ambiguities of the cold war. john le carré has died. "the spy who came in from the cold. " and novels such as "tinker tailor soldier spy." john le carré was 89.

global news, 24 hours a day, on air and @quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i am karina mitchell. this is bloomberg. ♪ ♪ are you frustrated with your weight and health? it's time for aerotrainer, a more effective total body fitness solution. (announcer) aerotrainer's ergodynamic design and four patented air chambers create maximum muscle activation for better results in less time, all while maintaining safe, correct form and allows for over 20 exercises. do the aerotrainer super crunch. the pre-stretch works your abs even harder, engaging the entire core. then it's the back extension, super rock, and lower back traction stretch to take the pressure off your spine and stretch muscles. planks are the ultimate total body exercise. build your upper body with pushups. work your lower body with the aerosquat. the aerotrainer is tested to support over 500 pounds. it inflates and deflates in less than 30 seconds

using the electric pump. head to aerotrainer.com now. now it's your turn to lose weight, look great, and be healthy. get off the floor and get on the aerotrainer. go to aerotrainer.com, that's a-e-r-o-trainer.com.

>> we were on the call all day yesterday, we will get on the

call again this afternoon. we will have a bell produced for the american people tomorrow, $900 billion. jon: just like that, senator joe manchin talking this weekend. he knows it is harder than that. good morning. i am jonathan ferro, with lisa umbrella it's. a pickup -- lisa abramowicz. epic up on the s&p 500. the dollar a little weaker, euro-dollar, 121 through 56 just off the highs of 2020 by about 0.3%. points up onasis the 10 year. ahead of retail sales and the fed this coming wednesday, and the jobless claims once again. this is the line from senator manchin, no way we are going to leave washington without taking care of the emergency needs of our people. it must be clear, that was part of the conversation over the pasta week, 10 they can

week,ing -- over the past can they get something done before year-end? lisa: may have been hoping to get a deal done for months now. can they bridge the gaps that have been perpetual? i don't know. i am still not seeing it, necessarily? jonathan: let's talk about the number of the morning, 908. kevin cirilli, bloomberg chief washington correspondent trends us now. parts, walk me through the mechanics of what is the proposed. kevin: talking with sources over the weekend, they are viewing this, as senate majority leader mitch mcconnell's one-to step of getting stimulus without state and local aid. there are two tangents for republicans to get on board with fiscal stimulus that does not include what they view as wasteful spending for additional allocations to state and local governments. that said about a $700 billion

proposal coupled with the $160 billion package, just a stand-alone for state and local aid. democrats are going to have a choice. . likely based on my reporting, you can see a scenario where centrist number correct and the democratic party -- centrist democrats it on board with the first scenario which does not funding,tate and local then you see a breakaway for the republican support for the $160 billion proposal. a calculation essentially where they are saying they could push forward some fiscal stimulus and have an opportunity to get a fiscal stimulus before they leave town? jonathan: makes sense. leader mcconnell has proposed this idea over the last several months in one way, shape or form. where is speaker pelosi on this? i am sure she is aware that if you propose this idea, put it to the vote, if it goes through, the $748 billion, it is not

getting done before christmas, most likely not getting done after christmas, dependent on what happens on january 5. kevin: if that happens -- i try to stay away from hypotheticals -- but if that happens, this would be a strategic win for leader mcconnell to have outmaneuvered speaker pelosi and the democrats. as you mentioned, this was the offer he had forward for months, a stand-alone bill without aid for state and local governments. instead, they are doing exactly what he wanted with two different bills. if it all goes up in smoke, this is a stare down that speaker pelosi wants, and we will find hours.the next 24-48 lisa: where is president trump in all of this? kevin:. not negotiating speaker pelosi and leader. mcconnell are expected to talk later today, but president trump

has been focusing on the georgia election. he has not been as you have seen him in years past, trying to coerce republicans in his party to get on board with the stimulus. in fact, secretary mnuchin has been the one driving this it is a stare down between speaker mcconnell.leader lisa: do you get a sense that either side are willing to cave on those key issues, state and local government aid, or liability with respect to covid ?nd the spread kevin: to be candid, i think centrist democrats are much more willing to pass a package of fiscal relief that doesn't thande state and local aid republicans are to give up liability protections, simply because many of those centrist democrats represent suburbs and not necessarily the cities in that are in dire need of that additional support, from their perspective, so that is really where the balance stands? jonathan: let's wrap things up

by sitting on the milestone of the moment, the milestone of this year. vaccination could begin in the united states of america today. what are you looking for, kevin? kevin: first and foremost, whether or not the bipartisan group of lawmakers, of which there are many, are able to get on board and follow the profile and courage leadership we saw from three former presidents, all saying jointly that they would receive the vaccine. if they follow that message and educate the public about this incredible scientific breakthrough, and they provide funding for the national ad council to build the public trust, that is first and foremost. we could see that next week in the omnibus bill. secondly, another millstone the electoral college today casting their, ballots across the country 538 members. what that shows about

president-elect joe biden officially crosses that threshold, how will republicans work with that incoming administration to make sure that 80%, as i read on the bloomberg terminal on my way in this morning, 80% of the public has the opportunity to be vaccinated by this summer? jonathan: wow. before we let you go, are you a user? kevin: i am a bloomberg terminal user first and foremost. lisa: oh, ok. [laughter] you may not be a gmail user. lisa: i mean, really, i will concede to that. this just crossing the google services, an outage hitting go.l, youtube and pokémon if you play, you are probably not getting access. i know that jon, that will cramp

your style dramatically. thousands of complaints detected as of 7:00 a.m. in new york, tens of thousands of complaints. people unable to access their gmail. this affects workload, too because people stream some of their emails into gmail from this work from home environment? jonathan: the excuse not to work from home today is readily available to people and users of gmail, provided by lisa abramowicz. [laughter] just quickly, pokémon go, is that the game that the kids used to go through central park looking for monsters? i didn't realize it was still around. lisa: it is. that may be what tom keene was hoping for today? jonathan: maybe that is why tom was off anyway. a bit of withdrawal. did you see the case of wine he

opened going into the we can question mark let me tell you, that is why tom has the monday off. [laughter] a massive case of red wine shipped over. i am sure he had a great one. alongside lisa abramowicz of this morning, i am jonathan ferro. equity futures doing nicely. wanna lose weight and be healthier? it's time for aerotrainer. a more effective total body fitness solution. (announcer) aerotrainer's ergodynamic design and four patented air chambers create maximum muscle activation for better results in less time. it allows for over 20 exercises. do the aerotrainer super crunch, push ups, aero squat. it inflates in 30 seconds. aerotrainer is tested to support over 500 pounds. lose weight, look great, and be healthy. go to aerotrainer.com. that's a-e-r-o trainer.com.

jonathan: from new york and london for our audience worldwide, good morning, this is "bloomberg surveillance." live on tv and radio. we advance on the s&p, up 29.3 and small caps up a little more than 1% after a sixth straight week of gains on the russell 2000 in america. that is the equity market. 12 months out, jp morgan is looking for 4400, year and 2021. on the low-end, a good friend of this program, bank of america is looking for 3800. that spread is worldwide. let's get to the bond market. look at the twos and the tens. your outlook and that might hinge, probably does hinge on what happens this wednesday on

the federal reserve and whether we get clarity on the bond buying program. most people believe that they are the reason that yields are not pushing much higher, not just the data, not the outlook, but whether the federal reserve will extend the maturity of its asset purchasing program. 1.66 is where the 30's trade. one currency pair, cable off the back of the worst week of performance of the pound against the u.s. dollar since september. lisa, the story here again, are they going to keep talking? bullish sterling. apparently it is that simple. lisa: you don't want to talk about it further? deadlines? anything? -- jonathan: maybe with maria tadao for a

couple of minutes. lisa:[laughter] talks, agreed to more how close are we to avoiding a hard brexit? maria: it is very hard to answer that question. thete to not answer question, but you see in the markets. all it takes is the fact that there is room, to give sterling a push. it has been framed as a make-or-break moment. if the prime minister was serious about walking away, he could've done that yesterday. is that he said the deal is possible. this morning, michel barnier believes negotiations when it comes to the e.u. side, he told investors he sees the path to a deal. remember, this is the future competition. the europeans to their credit have changed tone, saying they don't expect the uk's to move on regulation. they will restrict access to that market but not expect both

jumps to replicate every single thing, if they move on that and the moves on fish, that could open the have to a deal? jonathan: deadlines. is december 31 a hard deadline. could that be moved? jonathan: if it is a hard deadline, in principle, it could not be moved. would say, i politically, there is no appetite to extend that in any way. they want to wrap this if it can be done with a deal before that. but that date really matters. it is not a bluff. the united kingdom could leave and trade on wto terms if the u.k. these about a deal? jonathan: had to they ratify a deal in parliament with the time we have left if they don't extend the december 31 deadline? maria: that is set in stone for leaders to agree to a deal, so it means both johnson and the e.u. 27 countries.

in the interim, while we wait e.u. and it parliament, they could find a way to extend, but it doesn't mean they could deal.and on without a they would be seen as an emergency measure to bridge the time in which you get a deal from the european leaders and the prime minister and put it to a vote in the e.u. parliament, but this is not something we could have four weeks or extended forever, it is very much seen as a transition to bridge that gap between the deal and a vote to ratify the deal? jonathan: you'll have to forgive me, you have far more informed me on this matter. i have just been conditioned by the experience of the last four years to never assume anything when it comes to the talks between these two sides. fantastic to catch up with you, maria tadeo in brussels. lisa, we are told it is a hard deadline. december 31 cannot be moved. i was told a week ago they had no appetite to extend talks be on sunday. here we are monday morning still

talking. lisa: i feel like this is really subtle. i am not clear exactly what you think of this deadline? jonathan: i think i have been ?ubtle, haven't i lisa: new definition on subtlety. [laughter] jonathan: i have buried how i really feel. enough brexit. brian weinstein joins us now, global head of fixed income at morgan stanley. i am not sure brexit is at the top of the list for many people. this wednesday is the federal reserve decision. what are you looking for the fed this wednesday? brian: good morning, jonathan. good move on brexit, not talking about that. we think it is a real close call, 50-50, which i know sounds like a cop-out. at the end of the day we think they will not go for moving the extension of the buying. better to save it for later if rates rise, save it for dry powder. look at the world, republicans

and stimulus, equity markets are doing great. linknk they will try to more closely to the average inflation target. rates.ll not raise there is a couple of things they could do to tell us maybe when they will look at the extension of the buying, the average maturity of the buying. i don't think it is a huge deal if they don't, so long as they give us some language, and rates probably keep creeping higher? jonathan: you mentioned breaking inflation exit nations creeping higher, the you think that would be the green light for nominal yields, to pick up through 1% may be towards yield targets for 2021? brian: yeah. i think they could move higher. way, but where the getting 10 year notes to the 1% range is a likely outcome. across the world, australia and new zealand, for example, we have seen rates start to creep

higher. the markets get restless when you see growth and breakevens. i think stimulus will be the last piece of that in the u.s.. remember, we need stimulus. the output gap is still big. we still need growth in 2021 and 2022 to offset the loss of growth this year. stimulus will be big, along with the fed not extending their purchases. lisa: let's talk about additional purchases of treasuries and other central banks around the world, including the federal reserve. morgan stanley has a forecast of $2.8 trillion of asset registers by the major central banks next purchases.et registers ho how much has that been priced into the riskier debt? brian: there is no question that a lot of this is. priced in how is stimulus not raised in? how is the vaccine is not raced in, but the market still enjoys when these events happen.

there is reason to believe this can continue, so it is hard to look at risk assets and say none of this is known. the question is which risk most? does it help the when you look at treasuries and investment-grade credit, where a lot of the help was given, that is where the most upside is. you look at the low markets, equity markets and emerging markets, there are many things that you could still have great outcomes in, you just have to have some of these actually come to fruition. lisa: a lot of investment managers say it is time to pick particular bonds and not necessarily indexes. a lot of people say they are talking their book because they are active managers. [laughter] is this going[laughter] to be a company-specific story where you end up with some doing just fine, or is this still an index story, still a big macro beta play on more kiwi and more risk-off -- on more qe, and more

risk-off? brian: it has been a good year for indices, and also for some stock pickers. some of those tech stocks and things like that, have done tremendously well away from indices. i think if you stay in this world where the fed six treasuries -- it is hard to buy em index it is not. as smart to buy a high-yield index. there are sectors you should be avoiding. the bay of play is probably towards the tail. some of the bigger winners here will be selected list on the outcomes of were stimulus goes, which young -- em countries are stronger. that should matter more now that the data rally is mostly played out? jonathan: let's wrap things up, a lot of people come on shows like this at the moment talking about embracing cyclicality. in a cyclicality, in the market

that you would avoid? brian: fixed income, it is a lot harder because the cyclical nature of it is cyclical. when i say avoid some of the things in beta, when think of the high-yield market, that we think there will be plenty of the false. we still have energy problems working through the system. eem, there are still problems were stimulus is not getting to those countries and they cannot do much with their balance sheets. i don't think fixed income as a sector they need to avoid, it is much more micro, which makes it harder to do in detail? jonathan: good to hear from you as always, brian weinstein of morgan stanley. thank you so much. equity futures advance 0.8%. lisa was talking about the google outage. 10 minutes ago, a bloomberg subscriber rights in and says, just received this from the kids school, google systems out in the area. no virtual learning today.

so this is a snow day for some people. lisa: not the parents, i will tell you that? jonathan: for the kids, yes. lisa: remote schooling is tough when you have a working parent it is. that much harder if you are dealing with no school and the are basically trying to occupy your children. if you are in that situation, i feel for you. i have been there. it is tough? jonathan: lisa is talking from experience. tom is at home with two of them. [laughter] hope he is not having -- tom is not having a good day off. love that. we will have to reach out to him shortly and find out. lisa: it does raise the question, what do you do if you rely on these systems? google has serious questions to answer. the shares are not down more in premarket trading. they are basically flat on the day. interesting that people seem to be shrugging it off? jonathan: this market is flat. really interesting week ahead. economic data, retail sales on

wednesday, jobless claims thursday, the federal reserve in between. for our audience worldwide, heard on bloomberg radio and seen on bloomberg tv, i am jonathan ferro alongside lisa abramowicz. this is bloomberg. ♪ karina: with the first word news, i am karina mitchell. health care workers and nursing home residents be first in life and death of official will be ft the vaccine shots. pfizer is sending the vaccine in containers over dry ice to keep the formula at -94 below zero fahrenheit. democratic lawmakers will unveil in an hundred $80 billion coronavirus relief plan today. there are still doubts over whether was will pass it. they will offer language over two separate bills. one will call for state and local aid provisions for

businesses. trade talks between the u.k. and the european union have gotten another stimulus. british prime minister boris johnson and ecb president ursula von der leyen, once again gave regulators more time to close the deal. officials in the process say that agreement may be reached this week. google services including gmail and youtube are experiencing widespread outages around the world. the products are failing to load for users in new york, the u.k. and europe. youtube said on twitter that it is looking into the problem. there are multiple reports that baseball teams in cleveland will drop "indians" as its name, after years of protests from native american groups who viewed the name as racist and insensitive. an announcement could come this week. last summer, the washington football team dropped "redskins" as its name. global news, 24 hours a day, on air and @quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries.

i am karina mitchell. this is bloomberg. ♪

is a monumental week for us all, as we distribute millions of doses of vaccines to

the american people. we will be working hard to ensure these first shipments go very well. it is the foundation of all future deliveries? jonathan: a monumental week for us all in the united states of america, the vaccinations begin. army general gus perna, operation warp speed chief operating officer. alongside lisa abramowicz, i am jonathan ferro. a monumental moment for the country. in this market, it has been that way for months. equity futures up 30 points on the s&p 500. we advanced 0.8%. 6%, sokets, 0.924, rangebound over the last few weeks on the 10 year yie lisa: not necessarily breaking out. not confirming necessarily that rotation into growth we are seeing in other areas? jonathan: will this vaccine

unlock higher treasury yields? will this vaccine get us back to what you might consider normal by the middle of next year? the vaccinations begin this week. it is a massive moment in the united states. joining us is dr. joseph caccione. fantastic to get you with us on the program. first up, have you got the vaccine in house? talk me through how big this is.k dr. caccione: it is a big week, nine months of what the public has been dealing with, we are very excited that the vaccines are arriving today on many of our hospitals. we have 150 hospitals across 20 states. we anticipate vaccine deliveries today and we have been preparing for that for the last eight weeks. we have been working every day on the logistics and delivery of the vaccine. really excited about this.

we feel it is a way to get us on the other side of the pandemic? jonathan: we hope that is the case, doctor. when you look at the rollout, it is clear that frontline workers, the most at-risk in society first. 80 decisions on who to give it to in-house. is that difficult. how do you come around to making calls?ind of dr. caccione: he has strongly encouraged our employees to get the vaccine and our employees are stepping up just like they have, volunteering. everybody in ake single day. waiting for people to schedule their vaccine with us. we are managing that scheduling process just like we would in any other deployment. our frontline workers and really the hospital workers, those are the people we are prioritizing.

critical care nurses, in particular, which they are a huge brunt of this, as a respiratory therapist and care tax. we want to get them vaccines early. our front-line physicians are also very important. our critical care specialist, infectious disease specialists, pulmonologists. we are very excited for. our employees. lisa: it is interesting how the initial rollout will be viewed as a template. how complicated is it logistically given the cold temperatures you have to keep justaccine in addition to typical vaccine logistical issues? dr. caccione: it is a challenge. we have to store it between -60 degrees.0

we have to be prepared to receive the vaccines cold from pfizer. i have been on logistic calls with the pfizer folks. they have been an incredible job orchestrating this. very impressed that the way pfizer has approached this. it has posed a problem. we have had to go out and get a bunch of freezers. some of those where we cannot get freezers, pfizer made it so that the shipping boxes can be recharged with dry eyes. as we confront them. in we can store them shipping containers, and i think have done a great job of inviding us back up plans case freezers are not available. i can imagine it was hard, the number of freezers that we need -- we are getting there but we are not quite yet. lisa: it raises the question of who pays for all the extra equipment required. i know there has been some money

appropriated that it has not yet been passed in washington, d.c.. the on your organization, hospitals and health care facilities, is this going to be expensive, who is going to pay for it at the end of the day? dr. caccione: our ceo told us at the beginning, we care about our associates and our patients and worry less about the economics. thisglobal pandemic like where a number of people have been affected and the lives lost, so we have put our patience and associates first. for that reason, we have not thought about -- it is something that weighs on our mind over the long haul, that for the short-term, we are really focused on delivering the vaccine and for us, we are paying for it. the government has provided us with c.a.r.e.s. act funding but we are paying for it out of ascension is just a normal .usiness for us

there are technologies that come up over time that we have to pay for before somebody reimburses us so this is, part of normal business for us and our commitment to this is overwhelming. janet thanleast before we run. >> a massive issue over the last few months has been social distancing compliance, mask-wearing, etc. it is not just about the first vaccination, they have to come back for the second. it is going to be hard enough to get people to step up for the first one. can you walk me through the techniques the marketing around this that you think will be effective, that you would like to see in the coming months? dr. caccione: it is really about education, education education. ,e have significant issues significant populations that issues. the african-american population

and hispanic population have trust issues with the medical community. we have to be culturally sensitive and use our leaders, our african-american leaders and hispanic leaders to help educate appalachians and give them the vaccine.get the it is very important that the more vulnerable you are to illness, the sick are you are, the more likely the vaccine is to help you. about education, education, and efficient. been observed with covid come up but there is a second pandemic out there. worried about getting the vaccine and there are also concerned about health care issues? jonathan: we look forward to withnuing our conversation you. thank you very much. lisa, this is the beginning of the end and it charts this week in america.

lisa: hopefully people will get on board taking the vaccine given the fact this is the way to end it? jonathan: coming up on this program, lisa hornby from schroders. for our audience worldwide, good morning. this is bloomberg. ♪ berg. ♪

>> how do wages go up when there are so many people out of work? >> we are starting a brand-new economic cycle. >> there is going to be a lot of investment and spending. >> the stimulus is not there yet. >> central banks have locked themselves in. that we will not grow in 2021. it is will it be enough? >> this is bloomberg surveillance, with tom keene, jonathan ferro, and lisa abramowicz. jonathan: