so how will jay-z's be different? cnbc's frank holland got an inside look. ♪ >> reporter: jay-z has 99 problems but launching a cannabis company ain't one the first products are a prerolled cigar, joints and flower jay-z telling cnbc, i created monogram to give cannabis the respect it deserves by showcasing the tremendous hard work, time and care that go into crafting a superior smoke. monogram products are next level. jay-z will also be the chief visionary officer of the parent company that sells monogram. the company is a cannabis producer that's a result of the biggest cannabis special acquisition company in history it raised $575 million in july of 2019. the parent company acquired two california cannabis companies and secured the rights to market cannabis for reyawna and d.j. cal id who are part of rock nation they expect jay-z's influence to generate interest in the products and the stock. >> certainly jay-z and the affiliation with rock nation is going to get eyeballs on our company and eyeballs on our stock. w

jay was run-dmc in 9th grade before we even called him to dj for us. jay wore that hat.how those boys and girls were dressing. and when everybody outside of new york started seeing run-dmc, everybody else wanted to dress like new york. hip-hop had become so big, by 1984 the new york city breakers are invited to perform at the kennedy center honors, televised on cbs, in front of ronald reagan. that golden age of hip-hop showed that we can be part of that affluent commercialized world. we changed everything. we created a tidal wave of people wanting to come to new york to experience the clubs and the lifestyle. it was the most creative, artistic period in the history of the world down there. run-dmc, keith herron, grandmaster flash, madonna. wow! everyone wanted to be in new york. the 80s would become known as the golden age of hip hop. from its birth place in the bronx, this new genre would re-write the rules of music for decades to come. [tv presenter] from downtown manhattan, tv new york. everylet's skip the rinse. waste up to 20 gallons. finish quantum with activeblu t

jay, thank you very much indeed.r of the university of florida talking about the ipo market. in the next hour, we will have combine theany to ev front end the ipo front. will getf canoe, we c in theghts on the spa future of ev's. this is bloomberg. ♪ ritika: let's check in on the bloomberg first word news now. i'm ritika gupta. the spending bill congress passed includes dozens of tax breaks. motorsports and racetracks got a helping hand. so did the makers of beer, wine and liquor. in texas, coronavirus hospitalizations surpassed 10,000 for the first time in five months. the second largest state in the u.s. is struggling with the latest wave of infections. s -- thealf of texas' u.k. is trying to reopen trade routes to france after a day of chaos. the french shut down freight traffic from dover because of fear of a fast spreading mutant of the coronavirus. led to a lockdown of areas around paris. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more th

jay, tesla, s&p?very cool >> we'll be in jay's garage right after this man 1 vo: proof of less joint pain woman 1 oc: this is my body of proof. and clearer skin. man 2 vo: proof that i can fight psoriatic arthritis... woman 2 vo: ...with humira. woman 3 vo: humira targets and blocks a specific source of inflammation that contributes to both joint and skin symptoms. it's proven to help relieve pain, stop further irreversible joint damage, and clear skin in many adults. humira is the number one prescribed biologic for psoriatic arthritis. avo: humira can lower your ability to fight infections. serious and sometimes fatal infections, including tuberculosis, and cancers, including lymphoma, have happened, as have blood, liver, and nervous system problems, serious allergic reactions, and new or worsening heart failure. tell your doctor if you've been to areas where certain fungal infections are common and if you've had tb, hepatitis b, are prone to infections, or have flu-like symptoms or sores. don't star

jay: they will be coming to the market next week.eek after that there will be a number of other unicorns coming to market. typically there is a little bit of a lull at the beginning of the year, normally from christmas to the middle of january. the ipo market shuts down. there undoubtedly will be other companies, particularly the biotech space. we might end up with a record number of biotech companies going public. vonnie: we have known that for several months. major ones and less major ones. thateverybody be happy this is the right thing to do? mergers, somell work out better than others. the vast majority have found a merger target that their shareholders are willing to approve. i think that is likely to occur with the current crop. there is something like 200 looking for a target right now. ipos will bepac occurring in the future. there is a question mark with summative looking for companies to merge with, will they push up the price they are having to pay? with an off a lot of acquisition-mining companies looking for companies to

it is sold by the parent the company where jay-z will be the chief visionary officer.hey have pre-rolled cigar, pre-rolled joints all retailing between $40 and $70. jay-z saying i created monogram to give cannabis the credit deserves mono glam gram products are next level. it raised $575 million back in july of 2019 and acquired two big california cannabis companies. the chairman of that company expects jay-z to create high interest in its products and the company. >> before let you go, we have a quick question apparently this deal bringing in a couple can thnabis companies. sean carter is on board, but it is a crowded space what are they doing to try to differentiate from all the other cannabis companies popping up? >> i see you know a few jay-z quotes, he said i'm not a businessman, i'm a business, man. so it relates to this. not only is he an influencer, his company roc nation will also bring in other influencers, people like alicia keys, and they will be able to create their own cannabis lines so they will be a tier below jay jay-z's, but have the power to bring th

jay: go first. no, you can go first. manny, go first! no, jay, you go first.ebody give me a present! oh, jay, a diamond necklace! [ laughs ] thank you! you deserve it.

jay powell remembers that. he was a rookie on the federal reserve board at that time.n't want to pin himself in a corner, he wants to assure you come hell or high water they will keep up with the qe. he is leaving it as open-ended as possible. remember in his last press conference he said that they kept rates at zero bound for seven years and not created any kind of an asset bubble, wrong. if you can go for seven years, i'm jay powell, take it to a decade. charles: why not? >> i cannot wait to hear what gary has to say. charles: speaking of saying nothing, speaking of saying nothing, there was hardly any change in the fed's statement. one thing that might have stood out is when they talked about asset purchases, 80 billion in treasurys, 40 billion in mortgage-backed securities, they put the exact number in november. they said they would stay at the same pace. so again, gary, reassuring wall street we'll buy gobs and gobs of stuff to find away to keep money going into the system here. >> i would like somebody to ask a simple question of the man. how is buying the bonds

we heard from fed chair jay powell about his concerns for the u.s. economy even as president-elect biden is about to make a formal announcement. roger altman went to wall street to washington as the secretary under clinton and then referred to found evercore. thank you so much for being with us. it is a point of juxtaposition. where is the economy, how much .o we need to keep us going what is your assessment of how bad the economy is? roger: have a split screen -- a split screen character the economy given that the period between now and the vaccine is a period of acute need. postvaccine, and i do mean universal distribution of the ofcine and post vaccination a high percentage of americans, we should see growth. it is interesting that this is very different than the foundions that mr. biden on becoming vice president in 2009. it is an interesting contrast. at that time the stock market was falling, unemployment was rising, the economy was weakening, the worst was yet to come. today it is different. unemployment is falling, the economy is moving into

jay starts us off up until we at 10:00, from wake forest, north carolina, 202-748-8921 line, jay, go ahead -- north republican line, jay, go ahead. caller: this is a ripoff. whole lotbe getting a more money. we all know that nancy pelosi held this up. ow this whole government is turning into a joke. that's my personal opinion. but the reason i was actually yourng originally was from last guest. i don't know if you were aware cnn is, but he was on and -- host: ok, caller, i will apologize. is the jeg ic sment -- segment -- we do appreciate the first portion of comments. robin in new york, independent line, hi. caller: hello. morning. host: good morning. aller: i'm just wanting to make a comment on what the before --said earlier host: again, we're talking about relief that is being debated in congress. what about that? caller: i'm referring to a man who called in. it's terribly unfair hat for all the people who scraped and worked hard to pay loans.ir student host: well, that's not a part of now.s being debated what to you think about this package that will be passed? caller: i'm glad t

half-full.lass fed chair jay powell says the u.s. economy will rebound strongly in the second half of next year. of england the bank prepares for his final rate announcement of the year. policymakers are set to leave stimulus unchanged with a brexit deal yet to materialize. and bitcoin deal. worthsays it could be 400,000. good morning, everyone. welcome to "bloomberg surveillance." i am francine lacqua here in london. let's get straight to the markets. a lot going on with bitcoin. it is interesting to hear that conversation with scarlet fu and tom keene on bitcoin, scott saying he sees a going to as much as 400,000, and we could go to that level because of policy, the fed could start printing money. hope of aaining on vaccine, the dollar strengthening, labeled currency manipulator's, and then overall, the pound actually climbs, with officials cautiously predicting a brexit deal within days. now let's get to the bloomberg first word news in london with leigh-ann gerrans. hi, leigh-ann. leigh-ann: good morning, francine. the u.k. and e

i have asked jay to give approximately, jay, i think we've got about 18, 20 minutes before we have to wrap up by one, so to try to lead our discussion about our vaccine preparation and distribution efforts. jay? dr. butler: great. well, thank you, dr. redfield, and let me also extend my welcome and appreciation, mr. vice president, senator loeffler, senator perdue and congressman collins. it's really an honor to be able to host you here. when we look at where we are at in the pandemic response, ms. vice president, you used the word hope. i remember about nine months ago, we were talking about we hoped we have a vaccine very soon. now, we are really on the verge of having a vaccine that will be administered to americans. you were here at cdc. i want to acknowledge the partnership between cdc and operation warp speed, but also our state, local and tribal partners who were really on the frontline administering these vaccines. i also want to point out that this is bigger than in all of government response. it's an all of america response. it's going to take all of us at various levels of

d of jay: if we are not updating our regulations, we are falling behind.have to be activist. what we have tried to do is be activist for the benefit of our mainstream investors, really getting mainstream investors cheaper, making better protections, and to the extent that our mainstream investors fall victim, getting their money back as quickly as we can. --addition, trying to mine modernize our framework around the functioning of markets in the modern age. you have to be engaged to do those things. david: you put down as one of your principles the protection of the mainstream investor. you also say long-term mainstream investor. address the sec do to the long-term versus the short-term investor? chair clayton: great question. markets thirst for information by the microsecond. markets will always be focused on short-term trading. the culture of investing over the long term is something we need to foster across our regulatory infrastructure. the sec is here to help with the way we try to talk about trends, uncertainties, opportunities, getting companies to

jay powell talking at the moment. after that we are going to move through into the q&a phase, and at that point, we will dip in and hear what they have to say. one thing that is certainly big in the market today is what is happening with tesla. it is going to go into the s&p on december 21. there was some suggestion it may chunks, but money managers seem pretty happy we are going to see this going in one go. it is going to go in as the seventh largest company on the s&p, so it is going to have massive portfolio effects. it is going to be fascinating to see how this one works. i've read a number of reports suggesting the market is looking to be long in and short out. ultimately when it happens, you get a fade. alix: part of the rally we have seen, some are attribute into the fact that they have been front running this, but there are still about $11 trillion in funds tied to the s&p, so there is still a lot of money to be turned out here. what i find really interesting is that you are dealing with a company that sells 9

i think jay powell has proven very much the man for the times we're in right now >> jay powell, you're going to hollywood. thank you very much, guys. >> happy holidays. >> good holidays to everybody. let's go to kelly. >> thank you, ty let's take a look at the markets. they've been back and forth but the stocks are pretty much at session lows bob pisani has more. bob? >> not too much movement around the fmoc statement take a look at the s&p 3698 where we were going into that statement at 2:00 p.m. eastern time we're a little below that. that's not terribly statistically significant. you get these gyrations around the fed minutes. what was interesting, that move up in the ten-year you heard commentary about that, 0.94 that moves some bank stocks. the kbe, a little move up. bank stocks have been holding up well in the last month a value play that has done well. the kbe moved into positive territory on that news overall on the markets, something noticeable in the last week or so is the markets have startened to flatten out a little bit i think this is more than just the late december lull

i'm happy to give you the tour, i lohey jay. it. jay? charlotte! oh hi.cellent tennis player. bye-bye. i recognize that voice. annie? yeah! she helped me find the right bonds for my income strategy. you're very popular around here. there's a birthday going on. karl! he took care of my 401k rollover. wow, you call a lot. yeah, well it's my money we're talking about here. joining us for karaoke later? ah, i'd love to, but people get really emotional when i sing. help from a team that will exceed your expectations. ♪ >> tech: every customer has their own safelite story. this couple was on a camping trip... ...when their windshield got a chip. they drove to safelite for a same-day repair. and with their insurance, it was no cost to them. >> woman: really? >> tech: that's service you can trust. >> singers: ♪ safelite repair, safelite replace. ♪ ♪ birds flyin' high, you know how i feel. ♪ ♪ breeze drifting on by you know how i feel. ♪ ♪ it's a new dawn... if you've been taking copd sitting down, it's time to make a stand. start a new day with trelegy. no once-d

jay: i guess as a follow-up. jefferson became vice president, having finished in the electoral college to jon adams. if you could re- envision the american history in a way which the second-place miniature and presidential elections becomes vice president, how would you react to that freedom were sainted do you think the 12th amendment was an improvement. dick: i don't know. i think most recently, with the character. in order to amend this being made. even though he was from missouri. in his involvement when he took over, his lack, roosevelt and not really include him in anything during a period of time when he is vice president . and he came and he ended world war ii. he won the cold war. that was significant. in my mind, a democratic thing. it was a strong president. pierce's time is vice president that really set him up to perform that task. results task. lynne: noise makes me laugh. i have had to sin. the vice presidency, from the beginning was an afterthought. in order to establish voting in the very first i

the name black ambition if you're wondering comes from a song he released with jay-z called "entrepreneur," which opens with him whispering i am black ambition. ♪ i'm black ambition ♪ i'm always whispering

jay, good morning. >> reporter: good morning, frances.y as this morning to this downtown chicago hospital. they've been preparing for weeks here the doctors and nurses say they're ready for the beginning of what they hope is the end of the pandemic as the first viles of coronavirus vaccine roll out, excitement and emotion >> listen to me, i'm still crying sorry. >> reporter: on the way to hospitals like rush university medical center in chicago. the main lobby now a vaccination center where the staff will be able to administer 1,000 doses or more a day. >> this is a vaccination effort that has never before been seen or undertaken in any manner. >> reporter: front line health care workers will be the first in line, the beginning of what doctors and nurses hope will be months of inoculations here in phases the medicine is eventually available for everyone. >> we're starting down the getting everyone vaccinated pathway and hopefully seeing the light at the end of the tunnel for the covid pandemic. >> reporter: for that to happen, 70 to 80% o

how's it there tonight, jay?y, shep beautiful, to be real honest it looks great the snow has covered here. some businesses like stores they've seen an uptick in business, shovels and ice things like that. for those already struggling, this is a gut punch. no indoor dining, only takeout and outdoor dining that's gone away at this point and will for a couple of days. not only here in new york but across the entire storm zone then you move to the retailers ten days before christmas they've already seen a slowdown. i talked to some across the country who are closing the doors during this storm saying they just can't keep them open this is their busiest dime of the year and they're not getting any business that's going to be rough going broader, look at the trains and airplanes they had already reduced their route because there wasn't enough passengers there. now they're starting to cancel flights. hundreds already as far as the planes are concerned that's going to grow shep >> thanks. so what are you waking up to in

that said, i think we sought yesterday, the markets responded to jay powell. fed announcements and policy moves continue to be important for the market and the economy. really want to give that monthsver the next few and longer term, structurally, i think that the challenges are much more in the fiscal policy domain then the monetary policy domain. alix: michael, thank you so much. nathan, you will be sticking with me. talking about stimulus, house speaker nancy pelosi said progress was made this morning on stimulus talks. we will see if we get anything this afternoon or early friday morning. the number they are working with is $900 billion. next we get thoughts from nathan about europe and what to do in china for the growth potential there. this is bloomberg. ♪ in on theheck bloomberg first word news. i'm serena mitchell. state unemployment benefits unexpectedly jumped to the highest level in three months with initial jobless claims rising to 885,000. continuing claims that the number of americans seeking extended jobless benefits rose. government still haggl

>> my man, jay. >> what's going on?going to take care of all of that stuff, man. >> yeah. >> thank you -- are you kidding me? no -- thank you, guys. i can't believe it. >> it's so cool. dwanta, aka "the rock," promised to fly jay to the set of his new movie and give him a signed copy of his script. and to top it all off, he announced fedex is donating $5 million to toys for tots in honor of jay and so many other parents who need a little extra help to make the holidays extra special. "the rock" may not look like santa claus, but he is certainly playing that part very well. >>> our next high goes to anthony gaskin, one of the many u.p.s. drivers who has been working around the clock this year to deliver packages. folks in midlothian, virginia, wanted to surprise him with a big thank you. [ cheers ] [ honking ] check that out. hundreds of neighbors cheering his name, lining the streets as he made his way down through in his truck. gaskin is considered basically a hero in this neighborhood, delivering packages every day du

jay?porter: hey, good morning, marcus, and they are waiting on the vaccine here expected some time today, as many as 2,000 doses here. they've been preparing, working towards this for weeks and they believe this is the beginning of the end of the pandemic. >> we're starting down the getting everyone vaccinated pathway and hopefully seeing the light at the end of the tunnel for the covid pandemic. >> reporter: and that light may be shining a bit brighter. we've heard from health and human services who believes we'll get through this first phase pretty quickly and could see people getting vaccines in the general public by february. that's a stepped-up time line. good news there. waiting here on the vaccine like so many. back to you. >> i know it's a little early still but can you walk us through what the next couple of weeks will look like not only at rush but the other hospitals across the country? >> reporter: yeah, i think, cierra, and it's a great question, that you'll start to see this

nbc's jay gray is live in central park in tiny town. how's it there tonight, jay? >> reporter: hey, shep beautiful, to be real honest it looks great snow is picking up and covered here and some businesses like hardware stores, talked to them today. they have seen an uptick in business shovels and ice melt and sleds and things like that but for most who are already struggling in the pandemic, this is a gut punch let's start with restaurants they have been dealing with no indoor dining, really only takeout and outdoor dining that's going away at this point and will for a couple of days. not only here in new york but across the entire storm zone then you move on to the retailers. ten days before christmas, they had already seen a slowdown. i talked to some across the country who are now closing the doors during this storm saying they just can't keep them open this is their busiest time of the year and they're just not getting any business so that's going to be rough. and going broader, look at travel you've got the trains and the airplanes, which had already reduced t

optimism fromme jay powell.een: as juliette mentioned, needsraders -- if the fed to do more, all it can do is do more on the bond of purchase front. they expected some kind of announcement. probably say we are going to buy long-term bonds. the fed added forward guidance on bond purchase program as it has had on its monetary policy interest rate cut program. it is going to keep buying bonds until it sees what it cause substantial progress toward the goals you mentioned. jay powell in the press conference said this was powerful language. let's listen to how he explained what they are going to do. >> substantial further progress means what it says. it means we will be looking for employment to be substantially closer to assessments of its maximum level and inflation to be substantially closer to the 2% goal. kathleen: they are going to continue to do all they can. do not think about less fed stimulus. that is not going to happen for at least two or three years. the fed has said this is about monetary policy as much

iss the fact joe biden looking to put that upon jay powell, is that some sort of role in the federalerve to drive down inequality -- can we see that is credence to the economy that's been allowed to run hot? jonathan: i think that's a good point. one of the things that's interesting about the fed's reaction function is that it predates covid and they were on this path of trying to reinforce the hot economy, one where policy control was cyclically extended and as the fed recovers , saying their semi-barriers and tightening, that allows the policy to extend vital interest rates. that's what we've seen in the i thinkn rally -- that's a testament to the fact the market does relieve this reaction function is here to stay and the fed is serious about it. i think further progress on the credenceont will add to the fact that it looks difference from the 2008, 2009 joe: joe: one. we expect to see some sort of economic boom in q3 or q4 thanks to the vaccine. prove tohe outlook may be not optimistic enough. we know small businesses are closing and there's been a long gap in aid. it's going to b

jay powell sees light at the end of the tunnel after the policy meeting. how sound of the most -- jay powell son of the most optimistic he is been since the virus began. at the same time he pledged the central bank will keep providing the economy would support into the future. france's president emmanuel macron has tested positive for the coronavirus. the presidential palace as he took a test as soon as symptoms appeared but did not say what symptoms he had. emmanuel macron will self-isolate and will continue to work. foru.k. and eu are heading a final battle over fishing rights. that is the one major issue standing in the way of a post-brexit trade deal. officials are predicting an agreement within days. the focus on fish as assigned the sides have largely settled their differences over a level playing field for business. ghanan has rally 20% and for 23,000 for the first time. analysts say the digital currency still has further to go. bitcoin and the crypto index have both more than tripled. global news 24 hours a day, on air and on quicktake by bloomberg

who gives you better advice, beyoncÉ on jay-z? i'm having a bad day, he'll be like, you need to be somewhere driving a boat. turn up, have a good time. you know what i'm saying. he gives me like the more hot girl advice. >> stephen: what kind of advice does beyoncÉ give you? >> beyoncÉ is like, "look, queen, just rise above." she's very-- she says it in a nicer way, and jay-z gives it to me the other way. >> stephen: you made something of a splash this fall with "wap," declared song of the year by "rolling stone" and "pitchfork." but because of the explicit nature of this song, you have gotten some heat from some cultural conservatives. how did you deal with that hostility? >> first of all, i want to say thank you to cardi, for even putting me on the song. but, i mean, i feel like that was really, like, a little weird. i know the republicans have been having a bad year. and they probably needed to take their frustration out somewhere. but i want to tell them thank you for the streams, because without you, i don't know if we would

a very: that will be interesting question to put to jay powell.has to live with them for another six weeks. if things are going badly, he might need their help and there is money in the exchange stabilization fund that secretary mnuchin could contribute. on the other hand, is this a good opportunity for him to say, we need help and we need to make sure that we have it in place ready to go if the economy turns down. the tight walk for him. week iright now this think congress will have to decide on the fiscal stimulus. beene past jay powell has reasonable in saying we need more stimulus. given the pressure being put on the issue just today? yes, we needay say more help or the economy needs additional help. he has tried hard not to give advice to members of congress who don't not -- who do not like to get it on what they should be doing but you can expect them to make the point that the fed cannot do it by itself. all the things that the fe can do tomorrow are to push down on interest rates. they are at record lows and mortgage rates are at record lo

job jay jay. at the start of the layout of what i mean my arm chair full of charge india. and yes the listeria are doing if we have mom and pop. we should. go we usually do it all on the new we're really proud of what we eat. when you go to your cup when you which would be only years i. decided to push through and i did this cordoba. was such the book was not climates that are we don't tell but you leave years of time live and then they have to reveal what in your press talented knitting is in a cornish 3rd car so i think it's a corpse to which news i'm still new for the good folk during. it's not just the show for the nomination it's. but who. knows you want to send it to or you go into any of those things you need to. quit. just a bit as it is yet so are you up do you have this thing that i wish them a minute in the national bible when we had to bend is now and then they're going to come out that is. which thought. elizabeth a poke of in a gypsy up in screech was founded by cossacks in 842. which would you put them well because i know but they're not exactly going to be

fed chair jay

jay stanley, thank you, sir. >> thank you. >>> still to come, the white house all dressed up for christmas with the trumps. pretty soon it'll be transformed into the biden home in a span of just a couple of hours. so what happens on moving day when the current occupant doesn't want to be evicted? >>> and i want to remind you to answer this week's survey question at my website smerconish.com. will supporters of president trump accept last night's supreme court rejection of the texas lawsuit? freshly made footlong, from subway®! you can even order on the subway® app! did i just get picked off by deion sanders? you sure did! now in the app, get a free footlong when you buy two. because it's footlong season™! life doesn't stop for a cold. [man] honey... [woman] honey that's why there's new dayquil severe honey. it's maximum strength cold and flu medicine with soothing honey-licious taste. dayquil honey. the daytime coughing, aching, stuffy head, fever, power through your day medicine. don't settle for silver #1 for d

jay bhattacharya is here to robinhood believes now is the time to do money.ithout the commission fees. so, you can start investing today wherever you are - even hanging with your dog. so, what are you waiting for? download now and get your first stock on us. robinhood. until i found out what itust? it actually was.d me. dust mite droppings? ewww. dead skin cells? gross! so now, i grab my swiffer heavy duty sweeper and dusters. dusters extends to 6 feet to reach way up high... to grab, trap and lock away gross dust. nice! for dust on my floors, i switch to sweeper. the heavy duty cloths reach deep in grooves to grab, trap and lock dust bunnies... no matter where they hide. no more heebie jeebies. phhhhew. glad i stopped cleaning and started swiffering. it's moving day. and are doing the heavy lifting, jess is busy moving her xfinity internet and tv services. it only takes about a minute. wait, a minute? but what have you been doing for the last two hours? delegating? oh, good one. move your xfinity services without breaking a sweat. now that's simple, easy, aw

fed chair jay powell sees the u.s. economy performing strongly in the second half of next year but promises to keep supporting the economy. decision day on threadneedle street. the bank of england prepares for its final rate announcement of the year. policymakers are set to keep stimulus unchanged with a brexit deal yet to materialize. and bitcoin's rally. the cryptocurrency tops $20,000. scott minerd says it could be worth $400,000. good morning, everyone, and welcome to "bloomberg surveillance." i'm francine lacqua in london. tom keene in new york. in the last 20 minutes, we had huge news out of france. the story of the day, emmanuel macron testing positive for covid-19. yesterday he had a working lunch with the prime minister of portugal. we understand he also had various meetings with his cabinet but at all times the president -- or almost at all times -- he is wearing a mask. that is by people surrounding him. he has mild symptoms and will self-isolate for seven days and continue working from self-isolation. 32 ye

caroline: but there is continued pressure on congress coming from jay powell.long with all the central bankers, he is begging for governments to step in their. do you think this is why they are holding their ammunition? they want to force congress to move rather than to come in and say what they want to get? i think the fed has clearly indicated they want more fiscal stimulus. you can ask yourself why, and the why is, they are worried what they can do is insufficient to deal with what the economy really needs. again, that gets to the issue of this being a short-term problem for the economy, congress is best able to deal with that short-term problem and can do it much more directly than the fed can, right? you also met this up to the feds concerns that there is a lot of unequal outcomes as a result of this downturn, and the fed cannot do anything about that, except get job growth going or hold unemployment low. i think the fed is telling congress, do this. it's not obvious to me that if congress doesn't do that, then they have a lot of room to do anything in rep

august 20th, supposed to be baby jay's birthday. >> jay came eight weeks earlier than he should have been, yeah. that tuesday morning, aretha called me and said they were going to take the baby by c-section. they didn't want to take any chances with the baby. by the time i got to the hospital, the baby was already out. >> c-section, contrary to popular culture belief, is a huge, major surgery. people don't realize you're getting split open at the midpoint of your body, going down to your innermost organs. it's hard to do anything, to move, to do anything after, for a while. >> she had been sent home that friday. because the baby came early, they took the baby to the nicu. she spent three hours or more with him. and while i'm waiting for her outside in the car, she sent me a picture with her and the baby. and then tuesday, we were planning to leave like around 1:00 to see the baby during the day. and then everything just went the opposite direction. while we were getting ready, she was about to take a shower, then she fainted. about 20 minutes after -- she fainted again. and we decide

between now and then is when jay powell is talking about we need a bridge.my is going to be in much tougher shape. jonathan: great to catch up. want to bring you some news from the president of the united states. he said the magenta vaccine has been overwhelmingly approved. that is the start immediately. there is a process to all of this. what we learned yesterday from the advisory board is they have given the knob. we have seen this happen with pfizer. the next step is to wait for the emergency use authorization from the fda itself. unclear at the moment as the president comments on this being overwhelmingly approved is whether he is talking about the advice in the last 24 hours giving this the nod or the fda giving an emergency use authorization. the other thing is the mystery of the distribution. that itself is a mystery as well. and good morning to you all we count down to the opening bell. equities at all-time highs. this is bloomberg. ♪ a panel of student drug administration advisors has agreed that the benefits of modernity coronavirus vaccine outweig

watch the "jay leno's garage" so you know what you are dealing with this thing is one of the cheapest electric vehicles out there. bottom line, the canoe/hennessy merger is getting no love. i would buy even more if it pulls back to the $10 level. just be prepared for some serious volatility as we get closer to the deal joy in florida joy. >> hi, how are you >> i am good, joy, how about you? >> i am fine i am following the stock jpc for quite a few years now, for about eight years. with all these talks of electric vehicles, is it still a good stock to be in >> this stock has done nothing they ought to break it up. otherwise, autozone reports next week autozone have done nothing for a while. i rather see you in autozone azo, joy thank you. for the most part i think the speck is getting a little expensive but not the canoo/hennessy merger. how can i help you make money in this market? i am asking the ceo. then i got something to say for the next generation investors. they're going to like it and our rapid fire of tonight's edition of "the lightning round" so stay with cramer. this is dec

. >> jay grover was a vice president at diane's company. when she started in business here in atlanta, there were not a ton of female executives. >> no, absolutely. and i think that's one of the things that really set diane apart. i mean, she was a -- a woman in a man's world. but i think the competitors quickly found out that diane was not someone you could mess with. diane -- diane could hold her own. >> she had a big personality, loved clothes, furs, hats, and kids. although she never had any of her own. she survived one bad marriage and was in her 50s when she met tex mciver. he was self-made too, a military brat from san antonio who earned a rep in atlanta as a labor lawyer and a champion of republican candidates. >> he had great relationships. he had everybody's direct dial mobile number. >> bill crane is a political commentator and consultant in atlanta and a long-time friend of tex's. >> he was a gentleman, he as gentleman. both in terms of old courtly manners, standing when a lady enters the room. >> tex was divorced too. that's ho

. >> jay powell has been in this place for a while. i think the conversation about masks was a little bit stronger than it has been in the past. but he has made -- liz: yep. >> -- a link, drawn a link for some time between the progress of the pandemic and the progress of the economy. there's, you know, there's a real tie there because we have small businesses closing, as you noted a second ago. you have people being displaced. we've got relief for the long-term unemployed which is just about to expire. i think the day after christmas. there is a need to provide support to get us through to the point where, you know, lord willing, this vaccine is going to gets us out of trouble. he's been sticking to his guns on being support iive of the economy, but he is drawing a straight line between state of the pandemic and the progress on recovering economy. liz: can we talk a shot, we had a live shot of capitol hill where it is snowing right now, mark. and we know that when there's a single droplet of rain, much of washington, d.c. completely sh

jay bhattacharya. great to see you and first of all, thank you for all your work on this.reat bearing ten declaration such an important step in challenging the groupthink we seen so far on how to handle the virus. what's really interesting is how that connects with what is coming down the line now in terms of the vaccine so i love you to put those two things together and explain what you think needs to be done. >> sure, the vaccine is a golden opportunity to end the epidemic. if we do the right thing and use it correctly. we know that the elderly are the most vulnerable people and about 50 million elderly people in the u.s. and it just so happens that within the next two months we will have enough to vaccinate about 50 million people, enough vaccine. if we vaccinate those folks and that is basically the idea of the great barrington declaration, focused protection of the elderly and other people who are vulnerable of the rest of the population, lockdown harm effects worse, schools are closed, basically really damaging our children and young adults one in four seriously cons

jay gray, nbc news. >> it's a somber anniversary. today marks four years since the deadly ghost ship warehouse fire in oakland. 36 people died as flames ravaged the ghost ship artist collective. jurors could not reach a verdict in a manslaughter trial. almena is awaiting retrial. without admitting to fault, the deal provides $400,000 to tenants who lost property and suffered emotional distress. >> in couper tino today, the dismantling of a homeless encampment was so extensive it disrupted traffic. concern accelerated in august when a member was kill in the a hit and run accident. the city and county are working on giving the homeless a pass to permanent housing. they're arranging temporary housing to those who qualified. the city is establishing a safer site for others with covid safety. >>> it's been a challenging seven or eight months the pandemic forced a lot of us to cancel our cherished celebrations and ofs but it's also canceled some life-saving ones as well, like blood drives. our blood banks are in desperate need. >> reporter

jay inley says he has no concerns about distribution.he vaccine is on it's way but it will not be there or anywhere, frankly, soon enough. washington state says another shut down is on the table there. joining me now is jay insley who was just reelected for a third term. it is always great to have you. let's talk about distribution of a vaccine. i know you were asked to put together a micro plan. i hope you can walk me through the steps that washington state is taking and how it's going to work. >> we think we're in good shape. in the last hour or so we're trying to get enrollees to be recipients of that vaccine. we feel good about our refrigeration capacity in general. so we feel relatively confident about the distribution system. i would not say -- if i said i had no concerned about that that would not be accurate. all 50 governors are, you know, staying up late at night to make sure the plan gets affectiuated. i am very pleased that the fda, the medical community, stood up against the assault from the president on the integrity of the

jay, tell me how this is going to work. are the vaccines enough for the first round of all the medical workers there in chicago, never mind illinois? >> reporter: yeah, no, not even for all the medical workers here in chicago, ali. but they are prepared and ready here. you have to think because of proximity, we're talking about a 2, 2 1/2 hour drive from where this vaccine is leaving to get to chicago, that this will be one of the areas to see some of the first of the vaccine. friday they went through a dry run here. what they've done basically is close down the main lobby. it's turned into a covid-19 vaccination center. they have booths lined up here, health care workers will get their first dose of the medicine and come back three weeks later for the second dose here. they say they can do as many as a thousand people a day. they're expecting to get about 2,000 doses on this first run. so they expect to have two mass vaccination days. it's a voluntary effort for those who work in the hospital, the front line workers. talki