transportation secretary elaine chao. jason: also, not to flex, but the edge. joining us now, joel weber. what is this all about? joel: a chance for you to hang out with edge. as many times as possible. this is a massive dealmaker conference. there is programming on main stages, side rooms. a lot of investment opportunities and big thoughts, but it's a chance for a bunch of important people to get together and figure out how they want to deploy capital. jason: it has been named davos of the west. it is the creation of mike milken, a legendary financier, philanthropist, sort of like being in his brain. joel: that is right. it connects a lot of different pieces. you mentioned that media quotient. there has been a lot of food conversations. crazy stuff like a whole thing on psychedelics. so all of these things converge and create this hive. when you are thinking about how you are going to invest a lot of money, this is a chance to figure out what the next big thing might be. carol: that's what people say. someone in real estate has the opportunity to go to a food

david: we saw a photo of him with his loss, elaine chao, who happens to be married to mitch mcconnellis that a coincidence? christopher: someone just told me he is a former advisor to mitch mcconnell. it does seem like that is a reasonable connection to make that may have led to him coming on the radar screen. a very capable and smart guy but not not a lot known about this fellow in terms of monetary policy. scramble byck off a people looking for any information about what he thinks about economics and monetary policy. as you know, there was a lot of controversy over stephen moore and herman cain, fellows who were considered for the nominations to the fed. democrats are going to be worried or looking for was in the background. david: there was controversy, but a lot of that had to do with republican senators who would confirm. that connection to mitch mcconnell will not hurt him if he is nominated, i would think. now we will turn to mark crumpton with first word news. mark: a coincidence in politics, who knew? the trump administration is backing off politics. bloomberg has used the u.

that is something that also came up with the conversation with elaine chao. talking about infrastructure. stronglydent feels about the need to address infrastructure in our country. the biggest problem is how to pay for it and the president has already said everything is on the table and infrastructure is one area where there should be bipartisan support. any long-term policy needs to be done on a bipartisan basis. we have said the president has said always infrastructure is a real priority and we need to talk about it. we submitted a bill last year. there is so much private money out there ready to do partnerships. they have to becoming to washington. there are private pension funds as well as endowment funds that would love the opportunity to invest in public infrastructure. they are looking for long-term investments. with collateral that will not is governmentt projects. i hope there will be greater interest and allowance by the president to come in. allow thestates that private sector from investing in public infrastructure. we have to remove those hurdle

talked about automated cars and technology, something that also came up with just edition secretary elaine chaoident strongly about the need to address our infrastructure. the biggest problem is how to pay for it. the president has already said that everything is on the table. area whereure is one there should be bipartisan support. be long-term policy needs to done on a bipartisan the -- basis. the president has always said that infrastructure is a real priority and we need to talk about it. money there is so much out there, ready to do private public partnerships. they have got to be coming to washington saying let's do something. >> there are private pension funds as well as endowment funds that would love the opportunity to invest in public infrastructure. because they are looking for long-term investment with collateral that won't walk away. that is certainly a government project. i hope that there will be greater interest in allowing the private sector to come in. currently, there are a number of states that disallow the private sector from investing in public infrastructure. we have to r

. >>> "wall street journal" reporting transportation secretary elaine chao still owns shares in construction after she promised to sell them. shares of vulcan materials are up 13% last april when chao said she would cash out the stock. she is up, why would she sell it? just joking. >>> trump victory in 2020, that is not based on one but three different economic models eye lighted in "the new york times" this weekend. fox contributor deroy murdoch joins me. these are the kind of articles for rare on new york time. you will find them on a weekend. >> memorial day weekend. charles: so you have a professor from princeton, ray fair, who by the way has extraordinary track record. mark zandi, a really brilliant guy, left-leaning however, all models say trump wins and don luskin who we have on the show frequently. they all used different methodologies to come to the same conclusion. the economic juggernaut sure to get trump in if it holds. >> it must have pained them. not only three economic models president trump on way to re-election, power of incumbency. since world war ii that only presidents ra

transportation secretary elaine chao talking to us about boeing's troubles.s is a story in the news that has yet to be resolved. jason: absolutely. also caught up with the ceo of bp, bob dudley. it was earnings day. we talked about oil prices and also, warren buffett really gets into the energy business. carol: looking forward to that. this is "bloomberg businessweek" at milken. ♪ ♪[music] >> welcome back to a special edition of "bloomberg businessweek." i'm jason kelly. i'm carol massar. this week, we have been talking at the milkenes institute's global conference. >> still ahead, b.p. c.e.o. bob dudley. >> we've also got whole foods robs. coc.e.o., walter >> and joel weber. tell us about your panel this week. it was interesting. >> so the theme was artificial intelligence. a conference between a venture capitalist and the cofounder of a quantitative hedge fund. super interesting people, people forhave been near a.i. decades now. so they have a lot of fantastic insights. ofwhat do you think in terms investment potential? everybody talks about a.i. here in th

then first first liberty, a lam that frights for religious freedom sent elaine chao a letter complaining in the faa is now investigating, quoting here "federal requirements prohibit airport operators from excluding persons on the basis of religion, creed, for participating in airport activity they receive or benefit faa grant funding for school. first liberty applauded the faa's investigation into the airports ""blatant illegal religious discrimination." chick-fil-a says it is not involved in the investigations and does not hold a particular social or political stance. >> sean: and a new interview, kanye west, thank you, trace gallagher, liberals believe people who are trump supporters, and john boyd putting out a video on twitter calling the president the greatest president since a blinking, making actors like alyssa milano responding calling him a fing a list or trying to stay relevant. that would be her. fox news, correspondent at large geraldo rivera. listen, i understand -- >> what about dan bongino? [laughs] >> sean: hi, dan. thanks a lot, geraldo. >> your p.a. is listening. >> sea

so i told the great elaine chao, secretary of transportation, doing a fantastic job, i said, elaine,t's over for them. this has been going on for many, it was long before i got there. i would have told them, i would have said, listen, if an airplane is much faster, what are we doing? no, what are we doing? and i also would have done the super-modern thing, and we would have had it built on time and we would have had it built on budget. and it just didn't work out that way. it's a mess. and we're not paying any more money into that one. that's a disaster if you've ever seen it. make it shorter. how do you like that? john, is that a good idea? cut the big cities out. a little too much, too expensive. let's make it, like, real short. you'll have 3 people on it a day. so we're reversing years of calamitous trade policies that gutted the american middle class. nearly two decades ago, politicians in washington placed china into the wto, the world trade organization, one of the great catastrophes in the history of our country as far as trade is concerned, between that and nafta, you had two

undersecretary in the transportation department and has been a senior advisor to transportation secretary elaine chao. president trump has named four people for the two open seats on the board. none has made it through the senate. global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i mark crumpton. this is bloomberg. caroline: from bloomberg world headquarters in new york, this is "bloomberg markets: the close ," and i am scarlet fu. caroline: i am caroline hyde. we have been from gains to losses. as we head into the weekend, people tried to dial back on risk. we really have seen even the most resilient stocks take a hit. beyond meet finally falls. the company has about 40% of its overall shares actually lent out to short-sellers, so there are a lot of people trying to bet against the free flow. this is one of the best-performing ipos so far. scarlet: bitcoin falling in line with other risky assets. for a while it seemed immune to the broader financial markets. we are also looking at the two-year yield, the 10 year

>> that's a great question i mean, we're really lucky that the secretary of transportation, elaine chaon other countries where this technology is now operating at national scale and saving thousands or tens of thousands of lives and she and her team are pushing really hard to make sure that the u.s. doesn't fall too far behind they've created the integrative pilot program, which is making it possible for zipline to begin operating at a statewide scale in north carolina, serving a whole bunch of different hospitals and health facilities. and assuming that we can show we can do that in a way that's safe and benefits people's health and equalizes access, especially for people who live in rural areas, then we expect to be able to roll that out to every state in the u.s. pretty quickly. >> keller, as people see the success of what you've created, not just in terms of sort of the remarkable technology involved, but really what it's able to do in terms of saving lives, is there a competitor out there is there anybody else that you think is now going to be trying to do what you're doing? >> i t

you can look at elaine chao, who stood behind donald trump after charlottesville, somebody who had aat but was used as a prop for donald trump to clean up his mess after charlottesville. we've seen it happen time and again. it always ends badly for every single person and yet they continue doing it. with barr i don't think he's weak, i don't think he's corrupt. we do at some point just have to face it that some people don't have dementia, some people are just bad people. >> we heard these guardrail people that good people need to stay there to prevent bad things from happening, general kelly, rex maddux, we've been asking this question about bill barr. why? you've already been attorney general. you know what goes into the job, you know what that role is supposed to be. why is he able to sit and defend the things he defends in open hearings. what's in it for him other than keeping a job and staying in the game? >> we were all asking our questions. barnicle thinks it's this sense of being back in the game and being relevant. it's hard to find another explanation because here's the real

chaos. they have already been four different heads of the department and secretary john kelly, acting secretary elaine duque, secretary kirstjen nielsen now acting secretary kevin mclean in. and there have already been for acting directors of immigration and customs enforcement in two years. three nominees to had i.c.e. one year ago this week on may may 72018 then attorney general sessions announced a get tough policy, the full implementation of the administration's disastrous zero-tolerance policy which led to the separation of at least 200880 infants, toddlers and children from their parents. thanks to an investigation by the inspector general that i requested we now know that before that announcement thousands more children may have been separated by this administration in pursuit of the policy before it was announced. two weeks ago federal district court judge from california ordered the administration to begin efforts to identify and reunite these families. this government sanctioned zero-tolerance policy was a hillyer and sadly, that commentary on america. the president was forced to reverse his