>> from the world of politics to the world of business, this is balance of power.

live from washington, d.c. annemarie: from bloomberg's washington, d.c.'s studios welcome to balance of power alongside kailey leinz. kaylee: another victory lap after another strong jobs report. pres. biden: we are trending in the right direction. i think we are making real progress. economic progress could be we will discuss the debt ceiling. annemarie: u.s. fast tracking a weapons package for taiwan. a meeting with his chinese counterpart will discuss the diplomacy with armor congresswoman. kailey and former president trump's videotape position released >> it's the most

disgusting story made up. >> we will waive the possible effects for the 2024 campaign. >> really this is the calm before the storm because everyone is gearing up for next week. that is when we have a slew of agenda items. this has been a week spent basically only talking about the talks that are happening next week guarantees next week we will be talking about the talks that happen. annemarie: exactly and at the moment we are just not seeing the urgency. the house was out of session, they are back in town, speaker mccarthy is here. kailey: we are counting down to may 9 which is part of the count to june 1. annemarie: exactly. kailey: we are less than a month away. annemarie: bloomberg's megan scully and before, thank you for joining us. before we get to biden talking about, of course the debt ceiling he talked about the jobs number today so he's going into this meeting with the little bit

of oomph behind him. pres. biden: we added 250,000 jobs last month. that's on top of the 12 million jobs we already added since we came in office a little over two years ago. maga republicans are threatening to undo all this progress by letting us, quote, default on the debt unless we agree to their demands. >> before we get to the maga republicans let's look at these jobs numbers. it was a hot report and 3.4% unemployment we haven't seen that since me, this time, 1969. this is a great report for the administration. >> the numbers tell a story. people have been expecting a slowdown by now. you would think we would be having an impact but it's not. there is still a labor shortage strength across the board wages

are taking up and if you look at the detail health care sector by the way are starting to hire extra workers as well that's one of the key areas that is suffering a worker shortage. and that's just it's just speaking to the idea that the labor market is enduring and there are still caps on a the market. >> it's a question of when the good news is bad news or who it may be bad news for because we have this incredibly resilient labor market at the same time the federal reserve is trying to get inflation down. i asked does the white house from the think it can get both at the same time? don't you need to see a little deterioration? he said no because inflation is declining the pace of it at the same time that we are still seeing this resilience when it comes to employment so can i get both of the same time? is that looking increasingly likely as time goes on? >> this is the inflation debate.

i don't other was of lot going around today about the higher the heart fall. as i said face value i have to say very strong jobs report, speaks to why the fed has been raising interest rates and post the recession idea on the back for now. >> it's her deceiver going to have a recession when you have this type of unemployment number. it is still very strong so if goes into this tuesday meeting with strong wins from a very strong labor market report. so what happens in this meeting? because the weight it was talked about it sounds like a card the is going to get a lecture i used to do all the deals in the senate and. >> do you remember it was macconnell and biden, 2011 who hatched the deal to get us off of the last year fiscal cliff. it's going to be interesting to see the dynamics play out particularly after the meeting

when the lawmakers go to the mics and stick out their positions. it's important to remember this is the first meeting since february 1 and of the first one involving several members of both parties. we are not going to come out of this with any kind of resolution that we might have at least a preview of where this could go. particularly, how much speaker mccarthy is going to dig in on his own plan passed the house of week ago and that involves spending cuts. >> you say, you know, he'd did get that passed which is true but by the bear minimum. if his whole game here is to negotiate with the president that means he's going to have to give a little bit and then he might have some difficulty getting his party back in line if the spending cuts they wanted are removed from the package. >> he's definitely the man in the middle here.

he may at some point need to determine whether, to decide between the economy and his job as a speaker. he could be recalled as speaker very easily thanks to the roles that he agreed to when he finally got that job on the 15th round of voting in january. he needs to find something that can pacify conservatives in his on caucus. he has the slimmest of majorities. while he might be able to get something through the house he really risks his on political fate in doing so. >> and at the same time that's if biden is willing to negotiate, right? because he still maintains we are passing only a claim debt ceiling bill. the white house continues to say this happened three times during the trump mr. risch and so they want them to pass it clean. we see some angst but at one point -- what point does its are

to pay attention? >> it will start to ramp up as may goes a long maybe next week no one is expecting any kind of breakthrough but after that markets, there will be scrutiny on when the treasury will run out of money. between the politicians on raising the debt ceiling there is a view out there that ultimately the u.s. will navigate this, they will have a meeting and get it sorted out. some people are asking if this can be different. janet yellen, treasury secretary said she's on a trip to g7 next week that's not a good look for the u.s. >> and isn't that also not a good look to the credit agencies who downgraded the credit rating of the united states weeks before the >> state? they have to be looking at this and being like you guys are staring each other down and we don't trust you. >> it's a whole game of chicken

going on. globally, we have seen this before. this time around is a lot of scrutiny there can't be a meeting of minds on this at that's a lot of division. >> i want to take the counter view potentially of that. wouldn't it be even worse if yellen didn't shorten her trip? " when they are trying to hammer out this debt ceiling? she is the chief economist, she is the former fed official, she should be at that eating with mccarthy and -- meeting with mccarthy and o'connell. forget also that biden is traveling to the g7 later this month that he might need to cancel his trip or shorten his trip so what kind of message with that center? we can probably agree being at the negotiating table with mccarthy and congressional democrats as well is probably

where he should be. assuming there is no resolution by then. >> and it raises the question for recesses for congress. >> or working weekends. thank you both so much for joining us. are not done yet on balance of power coming up the u.s. is renewing its relationship with the middle east. we will talk about that with jane harman who is joining as to discuss. that is next on balance of power on bloomberg tv. ♪ ♪ ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy?

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>> let me state clearly upfront

what president biden has said himself our commitment to the middle east region is unshakable because the region is vitally important to our shared future and deeply interwoven with american interests and those of our allies. >> jake sullivan the security advisor speaking last night about new partnerships between the united states and the middle east. jane harman joins us to discuss, thank you so much congresswoman for joining us we have jake sullivan going to the middle east this weekend not just the saudis coming to the table the. i'm calling it the new quad. what strikes me and from mr. sullivan's speech is that it's no longer security that is the bedrock of this partnership between the gulf and the united states. it looks like the u.s. wants to expand this into strategic

partnerships in terms of investments. is that how you read it? >> i think the visit is the right thing to do but of course as chair of the freedom house board, human rights has to be on the agenda. let's remember that our cia has said the person jake sullivan is meeting with the crown prince was responsible for the killing of -- i hope he does that. i think an economic partnership is part of this and it should be. the region as full of oil and money. i was just at a conference in los angeles and the middle east sovereign wealth funds were out in force and it's a good thing to shore up our economic ties. it's also a good thing to see whether and i think this will be discussed this new saudi collection to iran could do two

things number one, iran is now at breakout for nuclear weapon. that must never happen. and number two, there have been very important protests by women all over the country for months now against the strictness of the regime. those protests should be encouraged and or the regime should lighten up and allow rights for women in their country. finally, i think israel is on the agenda too. the saudi's have said they may want to and i think this would be a good thing, establish a diplomatic relationship with israel but they also are pushing the peace initiative. that contains language about a two state solution, recognition of the palestinians and i think in terms of that it would be very good to put the palestinian future back on the table and to encourage israel to back away the israeli government to back

away from the idea that maybe the supreme court will be diluted or eliminated i think our government thinks it's a bad idea and i personally think keeping israel as a pluralist democracy which was the basis of its founding is very important. >> just quickly, do you think part of this trip has to do with the united states wanting to make sure they are showing strength in the gulf at a time when xi jinping, that was a coup for beijing. they are the ones that brokered this deal. >> maybe they did. they certainly showed up at the right time but those relationships were thawing. again, a good thing, depending on whether both saudi arabia and upon change their behavior but it's a good thing we are there. the unfortunate language during the obama administration of pivoting to asia made the middle east wonder whether we would stay and then the exit from afghanistan, to be fair, was very difficult.

some in the region were saying they thought that was our last act. will it's not our last act to credit the biden administration we are trying to make strategic alliances all over the world. the middle east can't be left out, into pacific can't be left out. india is a very interesting country and the fact that it will be part of this meeting is fascinating. >> bloomberg is reporting today that the biden administration is getting ready pulling together 500 megan dollars, weapons package for type one using the presidential drawdown authority which has been used in the war in ukraine. this is the first time it's used for taiwan what does that do to in already tense relationship between the u.s. and china especially at a time when we understand the defense secretary is trained to meet with his counterpart? >> i think we have to do both things. i think there should be meetings, i understand that secretary blinken may renew his

effort to meet with his counterpart in beijing i think that would be a good thing we have a very able ambassador there. and we need to show taiwan and at the world and our congress that we can fight the important fight in ukraine and pay attention to other hotspots in the world and taiwan certainly is one. i hope that will come down. i think we need to pharmacy, i think we need soft power across the world but i also think we need resolve to keep taiwan from being overridden by china. >> speaking of hotspots, the video i woke up to this morning of the vector group was quite shocking in terms of the sharp escalation. we see the rhetoric he has towards the russian government also saying, threatening, he will remove his troops. what would president putin do in

a moment like this when he has escalation with -- >> he has been critical for a long time about the lack of military strategy and training of russian troops in ukraine and i think a lot of people looking at this think the group has been essential in terms of keeping russia from collapsing. i don't know where this goes next but it's not news for vladimir putin who his already a pariah on his on stage. his own people are turning against him i think it's a bad sign for him. let's hope that the spring offensive by the ukraine said -- ukrainians is fruitful. after he is pushed back. there will be a negotiation of peace. the ukrainian people deserve incredible credit for their fighting heart and some people say zelenskyy who is a marvelous

leader, he's not leading them. the point being they are in this fight to win and i think freedom of the world is at stake and i'm strongly in favor of what they're doing. >> is ukraine given an advantage by this squabble between the wagner group and putin? >> i wouldn't call it an advantage but i think this global weekends -- squabble wea kens russia's ability to stay in this fight. they will mount i understand that a million rounds of ammunition are being sent down by europe which has been hugely important ally as has nato in this fight. i think that's a sign that the spring offensive will be more successful and hopefully the spring offensive will push russia back from all the occupied territories which has unlawfully tried to govern over

many years. but especially since the threat for war started a year ago. >> just to shift gears here i know you are very good friends with senator dianne feinstein have you spoken to her? is she planning on coming back to the senate? >> i read that yesterday she said she was planning to come back. she's a good friend, i met her when she was mayor of san francisco. i'm a colossal admirer of hers an icon. she had a dreadful case of shingles and is still recovering but she wants to be back. her doctors have to clear her and i hope she can be back as soon as possible and there are important votes and descendant needs her but i, you know, i would never write dianne feinstein off of anything. it would be wonderful to have her back in washington. >> it was wonderful to have you

here speaking with us this evening. of course another former congresswoman from california, jane harman. are most americans able to handle a $400 surprise financial hit? that's coming up, balance of bloomberg. ♪ for financial insights from merrill. this gentleman? he's learning how carbon-neutral investments could energize his portfolio. and with advice from their merrill advisor, they've decided that the future is women-led startups. she's got a million followers, but she's following trends in next-gen tech. personalized advice so impressive, your money never stops working for you, with merrill. a bank of america company.

>> this is balance of power on tv most americans don't have the financial resources to cover us a price expense of $400 without taking on debt according to a survey. of chief economist joins us not to discuss. bloomberg took part in the survey. thank you for being with us. when we talk about the percentage of people who

couldn't afford to pay it all walk us through the demographics. who does that group represent? >> the demographics are particularly important because we know that recently inflation has been disproportionately hitting lower income and middle income folks and we have seen that result. one of the big takeaways is just how large of a share lower income adults are represented in terms of not being able to pay with cash or cash equivalents. we see it as well when looking at younger adults and i think it's not surprising given the sum of the challenges facing right now. >> and this could only potentially get worse, couldn't it in terms of if there are more struggles in the banking sector for the united states is not able to deal with the debt ceiling crisis, that does not exude confidence in these individuals. >> that's exactly right. i think that's one of the big takeaways is despite having two years of robust jobs growth and a resilient economy we have

almost half the population living paycheck-to-paycheck, not able to pay for an and inspected $400 expense if we were able to see a sustained drop-off in employment that's were a lot of these folks are going to really struggle to pay the bills going forward. we will see that in terms of defaults and credit issues but also longer-term get sets at the stage for sluggish growth going forward. >> if this comes down to just the impact of inflation and wages not keeping up with a can you give us some insight in how it compares to 2019 pre-inflationary spike? >> i should say i think there is a very significant policy implications here namely we see it on the actual expense of 20 people being faced with unexpected expense. it tends to be a medical expense or something related to child care or education. it's not like this is coming out of nowhere this is a reflection of the system that the u.s. has right now work folks don't

necessarily have full health -- full health care coverage and have to pay out-of-pocket. that's one of the big takeaways is this is not just a near-term issue a lot of times this reflects longer-term policy debates. >> certainly and it's definitely how in terms of your data how people are feeling right now on the ground. thank you so much for joining us with so interesting as all of this can only get worse. biden is out touting the jobs market but that's not how people feel about their own economic conditions. >> he did admit they still have more work to do in getting inflation down. >> that is a normal line for this administration. we are back after this break, this is balance of power. this is your big three that crushes cable. and he changed the batteries on all three smoke detectors. fubo!

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>> i will not negotiate whether or not we pay our debt. >> come to the table and stop

playing partisan political games. pres. biden: they say we are going to default unless they agree to all these notions they have. not on whether or not the debt limit gets extended. >> why don't we sit down and work through it? >> the tit for tat. the public standoff between president biden and speaker kevin mccarthy continues as the x-date creeps closer. here is don meyer. thank you for joining us we're trying to set the table for next week the president will be in the oval office with congressional leaders most notably speaker mccarthy. but we are ever so close to this x-date should the president have made this visit, this meeting, this offer earlier? is he too late? >> he kept saying where is your

plan? republicans haven't come up with a budget they may never do that. but they did class -- they put their default on america act. it nearly passed by two votes. i think the president feels especially with june 1 coming soon that this time it's time to talk. he hasn't backed away from the idea that if the debt ceiling, defaulting on our debt shouldn't be negotiated with greater -- negotiated with. >> that's what we have consistently heard nobody wants to see the u.s. default and we have heard the line out of the white house and others in your party that republicans are being reckless or response that share responsible. is it not irresponsible to not meet them halfway and not negotiate? >> we have always said we would negotiate the president set from

the very beginning that negotiating on the budget, negotiating on how we are assembling our national debt completely fair but that is why we have the appropriations process. what we shouldn't negotiate on is whether we are going to pay the bills. it literally puts the world out of risk-averse -- of recession turning the dollar as a standard currency and it basically destroys the stock market and all of our 401(k) plans because most americans could be out of work. they are going to have major say in what the final appropriations bills look like. that's where you negotiate on whether we pay the bills that we already authorized and accrued. >> that's true. everyone has their piece in terms of the debt that we have right now i want to take a listen to representative by written donald's hoopty spoke to

yesterday. >> congress ability to raise the debt ceiling is a concern but the overarching concern is the lack of ability to have a fiscally sustainable track record for how we are going to spend the people's money and find a way to repay the debts we have incurred. >> so you know republicans feel and speaker mccarthy has said this many times is like a credit card, when it is time to pay your past bills they think it is viable and necessary to have a conversation on the future spending. at the same time do you think -- >> i completely agree and that's with the broad -- budget process is for. it's sort of silly to say this is joe biden not willing to negotiate. part of that that happened

during donald trump's presidency. my republican friends refused to consider any measures putting a huge gap between revenue and spending. we have to address the spending side. we have to address the revenue side also. >> i was in the senate yesterday and j.d. vance says he thinks everything should be on the table including revenue raising measures. you sit there in the house of representatives, i assumed you were on the house floor during every single round of votes for speaker mccarthy to get the speakership job he had to do with the faction of his party that proved difficult what we saw was unprecedented. i'm just wondering what the calculation is on the democratic side about something unprecedented not happening again given the membership of the house are democrats underestimating the willingness of some of the republican to default? >> i don't think we are under missed meeting.

-- underestimating. i don't think anyone ever feels that close. mccarthy had a choice he could work with moderate democrats to get the last few votes needed to get over the top where he could make promises to the small fraction of barely radical and extreme republicans who many of them said they would just as soon burn the house down in order to achieve the larger goals. we all have responsibilities but not to destroy america but we are doing it. >> the other issue of course is the continuous concerns in the regional banking sector and kaylee and i are looking over this headline the rating action is driven by the impact of potential transaction the uncertainty regarding the pink strategic decision as the place a rating watch negative by fitch on pac west.

how concerned are you about a banking crisis at the same time that you are trying to negotiate the debt ceiling lift with republicans? >> it's a terrible thing coming together at the same time. the good news this morning, the 250,000 new jobs 3.4%, the lowest unemployment all of that was good news but we still have to be concerned about the bank deals. and what is being done to threaten the stability of our financial system and worry investors honestly we have seen the impact on the stock market the last couple of weeks. >> so as we think about the timing isn't great so it raises the question of what role chris has to play. would you be supportive of raising the cap on deposit insurance? >> absolutely. i think it makes a lot of sense i also think that we need to go back to the loosening of

regulations we did a couple of years ago which i cheerfully voted against but most of the people there are exceptions some people think this crisis would not have happened if we had struck up regulations for those large midsize banks but then we also, there's much that we learned we just go back to silicon valley bank this crazy -- it's crazy to have 92% of the deposits over the fdic limit. we have to think about some new ways to make sure it's done in a stable way. >> would you consider the banking sector sound and resilient? >> overall, yes but anytime you get failure of a relatively large bank it does make people afraid. if you had no runs on those banks things would have been fine. people were afraid the banks work in a feels it's essential that this bank system, not just

reverse the unit but the confidence of our investors is also resilient. and we have to believe in it to make sure it stays that way. >> we have to leave it on that up with thank you so much for joining as, happy friday to you. that was congressman don meyer of virginia. we will have more revelations about supreme court justice clarence thomas and this time it's actually about thousands of dollars paid to his wife, ginny, by a judicial activist. the conversation coming up. this is balance of power on bloomberg tv. ♪ >> keeping you up-to-date with news from around the world with first word, food prices up for the first time in a year the united nations gained six cents of 1% in april. just one year ago russia's invasion of ukraine disrupted grain exports. the rebound concerns about

inflation. the biggest cryptocurrency exchange facing a u.s. probe. the justice department is investigating if binance was used to move money through the exchange binance was already in discussions to resolve previous complaints at the exchange was used to evade exchange. the $93 million the u.s. wants from him actually belongs to her why start was forced to forfeit his shares as part of his guilty plea she claims she purchased those shares with her money. she asked a federal judge to hold a hearing to establish her ownership. preparing for its first coronation in 70 years king charles, iii the coronation is expected to be a gift for the pubs and restaurants but includes a national holiday on

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was also the first time you heard of a town named dinosaur, colorado. we just got an order from dinosaur, colorado. start an easy to build, powerful website for free with a partner that always puts you first. start for free at godaddy.com >> there are many layers to this. let the process follow its course to get engaged with comparisons and where we are i'm not going to do that. i'm going to let the investigation run its course. those who believe i should do something differently, i respect

that but i have to make decisions for the city of new york. >> that was new york city mayor speaking this week after earlier this week the death of a homeless man who was put in a headlock by a fellow passenger on a subway car in the city sparked protests and short back-and-forth between the mayor and new york congresswoman. representative alexandria ocasio-cortez tweeting earlier this week saying jordan was murdered but because jordan was helpless and crying for food and a time when the city is raising brent and stripping services to militarize itself while many in power demonize the poor the murder gets protected with passive headlines and no charges. it's disgusting. let's turn to our panel political science professor coming to us tonight from new york and a partner at recep public affairs who is here with us in washington. seeing as you are in new york i will come to you first. this is an issue in the city but

it speaks to the delicacy and difficulty of navigating issue of crime in america at the moment. give us your take on what is playing out where you are right now. >> this has been an enormous story in new york city as you can imagine and throughout the rest of the country. for new yorkers this was reminiscent of a 1984 case when he was described as official antillean -- vigilante. of course this involved a white former veteran we understand and former marine who put this homeless man and a chokehold on the f train in new york city and ultimately killed him but i do have to say i think the mayor is right when he says we have to investigate this thoroughly and get to the bottom of it before we jump to conclusions. we are already hearing reports that people on the train but there may have been a gun involved. there is a lot there that simply

watching the video we can't tell but this is really exacerbated concerns about the issue of crime in the last election 60% of americans said crime was a major concern in their vote for congress and that's not going to end anytime soon. >> the governor and the mayor have really tried to get people back into the city and to their normal lives. they want to get more people to stop working from home, going to subways, going to manhattan. the other thing the congresswoman talked about was mental help and she said it was rich coming from the mayor because there have been cuts. is that something, this will have -- it will be highlighted more? >> this is a debate happening everywhere across the country about mental health and the lack of resources that we have an any cuts to that kind of program especially in big cities should

not, this has to be something that is important and prioritized and not cut back on. the mayor will take more heat for that. >> how do you see the issue of heat playing into the 2024 election? we know it was weighing heavily on weight -- voters minds. any of the candidates using as part of their messaging really felt like it resonated more than anything else it's a safety issue it's a home issue it's one that's very personal for people and it is one that drives people so it's an issue i believe, i totally agree with janie about how we have to let the contours of what actually happens play out but this is just another example of how this narrative, and this conversation is going to continue for many years to come. >> we have another big story today about clarence thomas, the supreme court justice. this is about his wife getting funds and the individual that was giving those funds said do not mention her name on the

bills. it's all piling up for this justice. at some point were going to have to be statement from him, congress to act, will this be too much? >> it feels that way and i have to say i'm not here to defend any of these actions but this happens in washington the time. these kinds of less than transparent transactions are happening every single day but the fact that it happened and happened in a way with the supreme court justice his wife this is just, it's going to accumulate and continue to get worse over time for him. there has to be something. the confidence in the court is beyond the place where we have ever been before people don't trust them and that's really not a great place for the supreme court to be operating from. >> on that point, it raises the question of accountability, who he is accountable to because he was nominated and confirmed it's not like he's someone that voters can say we no longer want you in this seat so how did you

ultimately see this playing out? could public pressure be enough that ultimately there is a consequence even if voters can't vote on it? >> it's such a good point because the supreme court members serve for life. they don't have to stand for election and this has been a problem in american history and we have been hearing calls from the american public, confidence is really low. 60 -- 62% of americans say they have zero confidence that's the lowest we have seen in five years and they are having an a impact on how of our lives with their decisions on everything from abortion to the death penalty and everything beyond that. we have absolutely no power to control them. if i go back to what we heard this week the highest court should not have the lowest ethical standards. clarence thomas, the other justices who have been part of this story about receiving gifts from wealthy donors they are receiving money for a reason and

in clarence thomas's case the latest from the post that money is adding up to the thousands and thousands, hundreds of thousands. he seems to have gotten from harlan crow and now leonard leo and those are things that the american public has a right to know at the very least they should have been disclosed and i hold john roberts responsible for this he is the chief justice. he should demand better of the justices on the court and support the call for a new code of ethics. >> lisa says this is rampant in washington, you know what i think we have ethics as journalists. these are certain things we cannot accept or do and it's very clear. >> but we also are accountable to someone who is willing to hold us accountable which is kind of the other purpose. >> and that's why this debate is not coming away. sticking around with us coming up we are going to dive into former president trump's videotaped deposition today in

jean carol's lawsuit. this is balance of by from washington, d.c. on bloomberg. guests check in, then check out their phones - for financial insights from merrill. this gentleman? he's learning how carbon-neutral investments could energize his portfolio. and with advice from their merrill advisor, they've decided that the future is women-led startups. she's got a million followers,

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>> they didn't have to return to anybody because it didn't happen. and, by the way, if it did happen it would have been reported within minutes. talking about going to a major floor, probably the most important floor, a major floor in a major department store, it's the most ridiculous, it's the most ridiculous, disgusting story. it's just made up. >> former president donald trump videotaped deposition. 48 minutes or so was that deposition.

we are back with our political panel. partner reset public affairs so he didn't show up in court but we have the deposition. this is, obviously, a rape case it's very serious but this is the individual that is likely going to be the 2024 candidate if you had to decide today, it's him. how difficult would it be to get the vote of independents and women, especially suburban women. >> you would think impossible but i don't understand you touched a nerve with me that i can even say enough about how obnoxious and insane all of this really sounds to me what woman would bring the case against a former president if it didn't actually happen? i've already come to this decision with a bias but to be able to go to the polls and others is someone that is regardless of whether or not it happened so bad for women and sitting in a place he is talking badly about them, they're not my

type, it's gross. there's no other way to put it. to think women, and independents could come out in favor of this kind of candidate especially after everything we have seen it's just unbelievable. >> we are going to be hearing more from the former president extra and he speaks to the cnn town hall. it's going to be a busy week for about the former president and the current president because on tuesday president biden will sit down with congressional leaders to talk about the debt ceiling do you think we get anything tangible out of that? >> listening to the president today i don't get the sense the democrats and the president are going to back to back down on the demands that they raise the debt ceiling. i am not optimistic. the president was clear in his remarks that this is absolutely unacceptable. he will talk about future spending, he will not talk about paying our bills. i hope i am wrong about this, i hope i am really wrong i hope it gets resolved on tuesday. but i think we are seeing them

digging in their heels and i would go over the congressional side and we heard it last night on a call they say they believe republicans will blink on this so i don't think they are feeling the pressure yet. if they were at think they would be with washington, d.c. -- in washington d.c. with you guys and they are not. >> thank you so much for joining us your point next week, also title 42 expires it's going to be busy. >> troops heading to the border so we better rest up. >> you can check out more of these stories on the washington addition news later -- letter. thank you for joining us happy friday, this is bloomberg. ♪

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david: testing the economy. more bank tremors and more fed rate hikes and the unimaginable prospect of u.s. default. this is bloomberg wall street