jonathan: emily wilkins, thank you.s week things starting to get tricky for this administration on both the domestic and international front as well. tom: it is a sea change week. i will let experts talk about that. i do take your point. on afghanistan, it is stunning the last 24 hours the rapidity, even the most experts -- looking at the soviet war, easily going back to 1979. jonathan: the domestic situation as well. the difference between nothing to maybe $3 trillion, fort wayne dollars in spending. -- $4 trillion in spending. tom: what happened this week i am guessing is the separation of the linkage of these two bills. maybe senator schumer will tell me i am not. jonathan: i will go there. a lot of people following washington. someone is going to be upset. lisa: president biden has always that he is trying to appeal to the voters. you look at the polls and they were very much for infrastructure. it is gotten clouded as the inflation debate has gotten ramped up, particularly by republicans, and the disagreement over

jonathan: emily wilkins, thank you. we have not heard from the president.ght not hear from him for a few more days. are you surprised by that? tom: no he will wait and i'm sure he will make comments. you talk about the fall of saigon and this harkens back to something i saw live which is where linda -- lyndon baines johnson announced on a sunday evening that he would not run again for president. ever since that moment, presidents have been very careful in crisis about when and how they speak. jonathan: how halted will he be by the comments he made? tom: this guy is tough as nails and his fallback is the sequence from president trump to -- to present biden where president trump made some actions clearly to say we have to end this and president biden followed on. his saving grace here is the combination of trump and biden. these two presidents said we are not doing a third decade. jonathan: let's reflect on the works for a moment. there will be no circumstance where you see people being lifted off the roof of an embassy from afghanistan. the likelihood that t

let's get to emily wilkins of bloomberg government, covering the story for us. to hear at least from the pentagon. we are not clear whether or not the biden administration will make a statement. emily: we are still trying to get more details at this point, as we wait for statements from the white house, as well as from the pentagon, from the department of defense secretary. they addressed reporters in recent days about the situation coming out of afghanistan. we know there were two explosions outside of kabul's international airport, causing 13 deaths, some american troops, who do dozens of others. this came after the u.s. mourned american citizens and allies to stay away from the air, worried about potential data -- danger. it comes as many are still trying to get on planes to get out of the country. greg: this has been a chaotic situation, even before the tragedy of today and the two explosions and the loss of life. you have to imagine the administration is trying to figure out how these final days play out in terms of getting people out of the country and wra

emily wilkins joining us from capitol hill. emily, talk to us about what happens next. i imagine making this clear, having the impact that that is going to have. emily: let's break down what senator manchin said this morning in a statement. he is concerned about the amount of the package. right now that is set at $3.5 trillion, but we have a long way to go. what the senate passed yesterday was a blueprint for budget reconciliation. now we are going to get into the nitty-gritty after the house passes it later this month, trying to figure out the details come exactly how much is going to be spent. there is room for negotiation to bring that amount a little bit lower, which is what manchin is pushing for. one thing in the statement is manchin voting against a reconciliation package. centers will be working on this throughout -- until september 15 and possibly a little bit later, trying to nail down the details. once again, in this process of negotiations, of discussions, you are seeing posturing from senators like joe manchin as well as moderates in the house. at the end o

emily wilkins joins us right now in the heat of this battle.is just a vignette into what happens today. does a congressman from iowa say if i don't get this, i won't vote for it? what actually happens now, as the sausage gets made? emily: right now you have a lot of senators who are not within that negotiating group, looking at the 2700 and two pages -- 2702 pages. the magic number is 60. ideally from majority leader chuck schumer, he will have all 50 democrats on board and then an additional 10 republicans. a lot of people are saying this is infrastructure week, that this is a big week because it looks like the senate is about to pass this package. i would say we are still in the middle of and for stricter summer because even if the senate does manage to pass this bipartisan for stricter package, something that there could still be a lot of roadblocks on, depending on what publicans want to do with amendments, it still needs to get through the house. the house says they need that 3.5 doubt -- that $3.5 trillion reconciliation package. tom: are

jonathan: thank you, emily wilkins down in washington, d.c.is the issue on wall street, the issue on main, and seemingly the issue in the white house as well. this came from the national security advisor, jake sullivan, who said that opec-plus must do more to support the recovery. then the national economic council director said the ftc is to monitor gasoline prices for illegal conduct. a load of people writing in the last few minutes. one person on twitter asks the question you have essentially asked as well, wouldn't be administration welcome higher oil prices to drive the energy transition they have been pushing? tom: it is a jumble. that's the only thing i can say, it is a jumble. let's remember, let's redefine opec+ as the opec we know, now plus russia. so there is an international stew where you go nothing is going to get done, but what about domestic? jonathan: we are down about 1% on the day. lisa: will they actually call opec+? i don't know how serious to take this. jonathan: i've got no idea. one hour away from and inflation report i

tom: emily wilkins, thank you.bloomberg radio, television and the markets, we are looking at a little bit of weight and beginning to shape a fed policy of a sort of kind of like virtual jackson hole. what is it, lisa? lisa: it is a hybrid model, a semblance of what we experience fall when everybody goes back to what is supposed to be in person but i expect will be hybrid and editorialized. the theme of this conference is economic policy in an uneven economy. if they are talking about the uneven wealth distribution, job recovery, how are they going to talk about fed policy with respect to that where their policies are propping up the upper tears in terms of wealth -- upper tiers in terms of wealth distribution? if this is the theme of their conference, how are they going to address this and look inward in terms of their role in this dynamic? tom: it is exactly right to get this started with trails evans out chicago with an important conference two years ago, to make a joke to be liked, a more sensitive fed. i do agr

emily wilkins, a guy like john kirby knows it's chaos. what is the biden administration doing so that they listen to the secretary of defense and listen to admiral kirby about the steps forward? emily: at this point we are seeing the biden administration under lots of pressure from lawmakers, international leaders with the g-7 to really go ahead and make sure they are extending that august 31 deadline. but at this point president biden and others in his cabinet said that's not necessary. that they are going to be able to get everyone out by that august 31 deadline. mind you, that means getting the american citizens in afghanistan out in the next couple days. so you can go ahead and get u.s. soldiers out. tom: completely unfair question but unfair wednesday, emily, is the issue here kabul and the airfield, or is the issue getting americans over to kabul to get out? em-- emily: you heard calls yesterday from republican senate leader mitch mcconnell saying they send soldiers out into kabul to make sure people can get to the airport safely. t

emily wilkins joins us. almost heaven, west virginia. mr.chin set off a comment on chairman powell, but more importantly is what the senator from west virginia is facing at home, which is constituents and inflation. explain that tone in washington of all of these different fancy people in suits and ties and their constituents saying here's the non-transitory here and now. emily: there are two narratives right now in d.c. one of them is that inflation is a huge problem, that the biden administration needs to get in gear addressing it. the other narrative is yes, inflation isn't looking good right now, but it is just the economy coming back online after covid. give it a few months. everything is going to shake out and be fine. obviously the white house is in favor of the letter narrative and hoping that moves democrats with them, but we are beginning to see faultlines with senator joe manchin writing that letter to the fed, saying you guys really need to start addressing inflation going forward. this could play into that upcoming debate. we ha

emily wilkins is following the introductory bill. mike mckee looks ahead to the jobs report.'s kick off with the senate. guy: let's talk about what is happening with the politics because i think this is going to have a market impact. the u.s. senate now on a path that could lead to a vote this week on that $550 billion infrastructure package. west virginia democratic senator joe manchin thinks the passage of this will come soon. >> if you do get infected, the likelihood of getting a severe outcome of the infection is very low. it is much more likely that he will be either without symptoms or minimally symptomatic, so the vaccine is doing what you want it to do. it is protecting people from getting sick. guy: as you may have realized, that was not joe manchin, of course. that was dr. fauci. but what he said was quite reassuring. let's play the manchin. sen. manchin: we should finish up by thursday. when you see chuck schumer and you see mitch mcconnell both voting for the same thing, it is unbelievable. guy: now that we've got our ducks in line, let's carry on the conversation

emily wilkins does not know who simon and garfunkel is but she knows political waters. the summary of this week in the political swirl known as washington. emily: we are on track to have that infrastructure bill finally passed the senate. they took their final procedural vote last night. republicans joined with democrats giving them more than enough votes. what will happen with the crypto amendment? it will be passed either today or sometime tuesday morning. from there we go to the budget resolution because chuck schumer has said that needs to get done before the senate can finally depart. tom: what is the character of the first phone call from the senator from new york to the speaker from san francisco? emily: probably to discuss if they will continue their strategy of holding both bills, holding that until the reconciliation bill comes down the line. speaker pelosi is under increased pressure from moderate democrats in her own party saying we cannot wait for the senate to move this reconciliation bill, we need to move now on this infrastructure bill and they do have so

emily wilkins joins us now. what is the latest that we know on this effort? y: we are hearing that the pentagon is going to be sending troops back into afghanistan and kabul to evacuate diplomats from the u.s. embassy. they are drawing down steps for diplomatic presence but the embassy will remain open and it will continue its work according to a state department announcement. the u.s. has 4200 people at its embassy and a sizable portion of those are american citizens. this comes at the biden administration is under increasing pressure and criticism as u.s. troops withdraw and as we see the taliban continue to move in the country to gain strongholds in various cities. it is a question when kabul might fall to the taliban control. shery: mitch mcconnell opposed the drawdowns from the beginning. where does congress stand in all of this? emily: there are many members of congress and many democrats, members of the seven biden's own party, who question this idea and say that their worst fears are playing out, that you don't need the afghanistan forces being able to

right now, emily wilkins with us of bloomberg government in washington. does the president do this morning? ? ? he's had a challenging weekend, to say the least. what is the biden agenda this morning? emily: two big things for president biden this. -- this week. number one, trying to get u.s. citizens onto airplanes, as well as those afghan citizens who are really struggling to get in through that airport. tom: does he have an identified czar yet? i haven't really seen the afghans are for the president -- the afghan czar for the president. emily: at this time, it might cut into the time they need to simply move. they are looking for an august 31 deadline. during president biden say he got extend that deadline. he's been under pressure to extend that deadline from pressure from boris johnson and the u.k., as well as others in his own party. we are seeing reporting saying that the taliban might up their aggression after august 31, after that set deadline, until the pressure is really on for the u.s. to make sure they are getting people onto planes and out o

emily wilkins with us on the damage done coast-to-coast.114 mill street and hooks town, pennsylvania, conor lamb is a moderate democrat in the senate race as well. this disaster permeates all the way to pennsylvania. what does it mean for the moderates of this nation? maria: --emily: it permeates all over the country, and i think you are seeing that now for members of congress. there is a slight difference in rhetoric between democrats and republicans, but you are hearing democrats really come out and say this withdrawal was a mess, and we want to look into it. you are beginning to see the heads of the foreign affairs committees in the house and senate say they will be holding hearings. the secretary of state, secretary of defense, they want to get to the bottom of why the withdrawal from afghanistan laid out in the way it has. jonathan: -- tom: that is the look back. i want to know the look forward for moderates. can you assess that now? emily: to be honest, i thing we are all waiting in washington to see how this plays out. certainly ther

emily wilkins joining us with bloomberg government now. it is real simple.t we knew what we had. president trump, dr. fauci, basically president trump making up his covid policy day-to-day. dr. fauci is still there with president biden. but what is the structure of the white house response to where we are now with this pandemic? to me it is a mystery. emily: you have heard president biden continue to talk about the delta variant, continue to highlight the fact that the variant is more transmissible. you have seen the cdc bring back some of that masked guidance. but at the same point, throughout this entire process, if there has been one underlying storyline, it is that there is really only so much that the federal government gets to do. we seen a lot of this happen at the state level, at the local level, and you are seeing that continue. you're seeing that now with the white house's approach, instead of trying to do a national mandate, say these are the areas where we are having the most problems, let's just try and focus on these areas where the rates are g

tom: emily wilkins in washington. i want to go to the bond market, let's do short duration first. new highs, well over 1.1 trillion. i'm sorry, that tells me some information from .20 to 0.24 in the two-year. lisa: this is a big question with respect to tapirs, how long will it last, what is the plan, what is the connection between the tapering of bond purchases with the schedule to win a raise rates. it seems people are up eating their forecast for that touch but honestly, it has been all but a flat line. the threshold for the fed to move to raise rates, to tighten that's level is so high, so again, the key question tomorrow with fed chair jay powell, how much will he disassociate taper from the rate hike that many don't expect? tom: that will be easy language for him but if you go 1.12 to 1.3 4, 15 to 20 basis points, and you add another 20 to that and do it again, 1.50-1.60, then the market tells him what to do versus him telling the market what to do. lisa: bob michele of jp morgan yesterday saying one thing giving markets confidence is the fed will respond if there is a hick

emily wilkins joins us with number government.ow the tomb of the unknown soldiers at arlington is section 60, on the plains, the field, the flatness before the pentagon. in section 60 is where they bury our brave from afghanistan and those from iraq. i'm sure the president will visit section 60. discuss what you learned yesterday about the mood on the hill, the mood at the white house. emily: president biden said when he initially started talking about pulling out of afghanistan that what he did not want to do is he did not want to call another soldier's family who died in afghanistan and give them the bad news. now he will have to call 13 families. far more wounded and dozens and dozens of afghani's wounded as well yesterday. we are hearing from u.s. central command that there could be more of these attacks. this is the last thing president biden wanted to have happen here. the administration was banking on getting everyone out, on saying we evacuated, there were no deaths. now, we have ended this 20 year war and we will have to

advancing the story forward as they see it, as we heard from ritika gupta, annmarie hordern, and emily wilkinsicey time in afghanistan. we will be following that through the entire morning as well. what you need to know is you take the subway, you don't take the nrbq. you take the nqrw. if you are up by central park, you are by nordstrom's and their swanky new store that pretty much everyone says has been a colossal failure. you wander down on the nrbq -- that is a music joke, before lisa's time. [laughter] you wander down to macy's. in the distance, 12 minutes on a bus has never been greater. it is stunning. dave: not on the stock market, anyway. i was struck by the reaction among investors to those two companies' results. i through coals into the mix just so you could have something -- threw kohl's into the mix to see you could have something to compare to. i've got to tell you, 37% different because you saw nordstrom's go way down yesterday after its numbers after last week. macy's went way up. tom: you look like dana tall see. give us the securities analysis on this. why? dave: they are mu