raimondo: that is possible.aised an excellent point, part of the discussion and one of the things the president is thinking about, which is to say, if we are going to do this, what can they do on their side of the equation? well i cannot say for sure, certainly, that is possible. and if it doesn't happen immediately, it is something we will continue to pursue, just in the interest of, as you say, fairness -- if we are lifting tariffs, what are they going to do? shery: u.s. secretary of commerce dr. ramo: speaking specifically with david westin and guy johnson. coming up, australia is setting up its corporate treatments to combat a search of an omicron subvariant. we will get more on that with deakin university's catherine bennett. this is bloomberg. ♪ shery: oil prices continue to for in the asian session, under pressure in this risk-off environment that we saw in the new york session. and the haven flows towards the strong dollar did not help, not helping oil prices. so that is really making crude more expensiv

raimondo: thank you, lisa.just said, every piece of modern medical equipment, every piece of military equipment, everything that needs a computer or that is digital runs on chips. the reality is we don't make very many chips in the united states of america. in fact, alarmingly, for the most sophisticated chips, we buy almost all of them from taiwan. we are incredibly dependent on asian countries for our supply of chips, including those that are necessary in all of our military equipment. so the united states is at a risk and we need to make more of these on our shores in the united states so we cannot only create jobs, but also protect our people. lisa: i haven't heard anyone disagree that there is a need, but some folks say there is other needs as well. we are talking upwards of $50 billion. that could perhaps go to freezing student loans for a year or needs for the pandemic. why is this more important than those other things our country needs right now? sec. raimondo: first of all, i agree with president bide

when raimondo took over.ll nonprofit into 10 cites in santa clara and san mateo counties. today gardner's two mobile clinics and community help centers provide one stop affordable services to more than 43,000 low income folks who are insured and uninsured. board members say the impact is immeasurable. >> he's been able to make decisions under uncertainty and i think that for me is a mark of a true leader. >> that strength was evident during covid when gardner offered free testing and vairks to thousands of patients. carmen gonzalez said they helped get her diabetes under control. she doesn't know where else they would have turned for preventative, medical, dental and mental health care. and now she's supporting raimondo's vision. >> he has a kind heart. always there for everybody. for the community. >> do you feel that with gardner, you're giving other people a chance to have what your family didn't have. >> i hoping. i'm glad we're giving hope. wish we could do more. >> so expanding health care so the unders

raimondo: thank you, brian. good afternoon, mr. president. good to see you and thank you for convening all of us on this incredibly important topic so, look, i think the most important thing congress can do right now to support america's economy and america's workers and our global competitiveness is to get this chips act over the finish line and onto your desk this week. it is vital. you know, the chips act proposes a $52 billion investment in domestic semi conductor production. which will enable us to revitalize our domestic semi conductor manufacturing. the truth of it is we invented the semi conductor industry. right? silicon valley is silicon valley because we invented it in the united states of america. we used to make 40% of the worlds chips. we make about 12% now and as jake said, we make essentially none of the leading edge chips. and we are utterly dependent on taiwan for the leading edge chips. so, in terms of economic security, chips are a cornerstone technology that underpin our entire economy. you need them for smart phones, com

commercial secretary gina raimondo with the latest on where things stand in the bill's passage. mixed action the major averages still on pace for a strong week. can we trust this rally? i think we're going to have two people on different sides. tom, you are bullish you see it as sustainable? >> i think the second half of this year has a lot of tail winds building a lot of the inflationary pressures that made investors think it was quite sticky are rolling over, some of the foods and even some of the things pointing to housing. that means inflation risk is declining and that allows not only the fed to be less aggressive but p/e to he can panned and earnings haven't been as terrible as expected. investors are bearishly positioned and a lot of negative sentiment. that will be something we have to respect >> why are you more cautious >> look, the -- i do believe we at ubs do believe the 9.1 june inflation is likely to prove at peak in which case there is a chance however, the constant dialogue and back and forth in the market has been about the recession versus inflation and so mayb

secretary raimondo, thank you for joining us this morning. let's talk first about the possibility of a recession, can we avoid a recession if interest rates keep climbing? >> good morning, george. good to be with you. i think we can. let me say this, the economy, in the past year and a year half, has been growing at unprecedently high rates. 5%, 6%. i don't think that we should expect that, right, i think it's normal to think that as we continue to come out of the pandemic we'll transition to a robust growth, but a more steady growth, so i do think at some point, you know, we'll see a less rapid growth in the economy, but i don't see any reason to think we'll have a serious recession. you know by no measure, we recovered all the jobs since the pandemic. people's household balance sheets are strong. companies are doing well. companies are hiring. companies are growing. i recently talked to a ceo of a major u.s. company who said to me, you know, it's almost like we're trying to talk ourselves into a recession. he said he sees no signs of it. hi

commerce secretary gina raimondo. >> set the cost of inaction is too high. related events. >> are more frequent, more dangerous and more expensive than they've ever that's not the radical for us in the city of it's real miami republican mayor francis suarez says they're already investing billions to combat rising sea levels. >> and severe hurricanes, he says congress must find a bipartisan solution. progress is on capitol hill continue to call on the president to declare a climate emergency president biden not yet taking that step. but last week we did see him roll out a plan to invest millions in communities facing severe weather. >> for now in washington, raquel martin, back to you. anna, thank you for that update. recount. well, coming up next on the kron, 4 morning news, the san francisco marathon returned this week. we're going give you a recap of you miss. we'll be right back after the break. >> over the weekend, the san francisco marathon return and you have thousands of runners who made their way from embarcadero all the way to sausalito and that >>

we've heard from defense secretary austin, commerce secretary raimondo and other administration officials, we are at a tipping point, a tipping point where international companies are making significant decisions about where they are investing their capital and putting down roots. in fact, we've already seen several of these entities hesitate to invest in american manufacturing due to inaction and political gamesmanship right here in washington. so, mr. president, our ability to rise to this occasion will demonstrate whether the united states is willing to creed to innovation and economic higher ground to the communist chinese party or whether we will stand up to the people's republic of china and reinvest in the manufacturing and innovation prowess that has made america a lone super power for decades. i submit that if we fail to pass this bill immediately, we will set back america's competitiveness for a generation or more. this critical moment requires all of us to put the country above politics. imagine that. put the country above politics. put hardworking american families who are doi

when it comes to the economy, gina raimondo essentially has said inflation has peaked.out of control here. you have the fed traying to rein it in but we have a lot of issues to solve before we call this a peak. you have the rest of the administration saying inflation was transitory. they were saying that when we were living with it for well over a year. these are the kinds of things that people have to think about when they look at the administration, look at this cabinet, look at this president and they start to make some decisions, not only in the midterms but 2024 as well. i don't think she has any other choice than to sit there and say he's a good president and tow the line and what else would you do? >> david, isn't that kind to have point, though, that she was on television, and she's asked that question openly, that this is now the conversation is like who is getting in the line? are you in the line? isn't that part of the problem for joe biden? aren't they doing it anyway beyond him? >> it is a problem for democrats across the board. but let's think about this f

coming up, an exclusive interview with gina raimondo. stay for it.s is bloomberg. ♪ caroline: u.s. secretary of commerce, gina raimondo, creates legislation that would produce funding. she spoke exclusively to bloomberg. take a listen. gina: yes, it will happen. it is taking much too long and what is at stake is national security. even beyond the economy, you know, every piece of military equipment requires chips. if you talk to the heads of national defense contractors, as i have done, or senior ranking officials at the department of defense, they are very worried about the delay. but yes, it will get done. at this point in the negotiation, unfortunately, politicians look for leverage. and while it is not right to play politics with national security, that is what i think is happening in the past two weeks, we made huge progress. we were closing out issues, finding compromise. so i think everybody needs to come back today, get back to work, and commit themselves to getting it done in the next few weeks. >> let me ask what difference it makes whether

chips as well as a separate investment tax credit and here to talk about all of it is secretary gina raimondo you for taking the time out. i know you're busy knee deep in negotiations on capitol hill i was hoping you could lay out the state of play for us is this sort of chips only bill the path forward is this going to be the final solution >> it seems like we're moving in that direction you have said schumer has said that earlier today, you saw republican leadership, senator cornyn, senator blount coming out saying they would be supportive of a slimmed down version of the bill. it seems like republicans and democrats are coming to grips with the urgency of this situation. if this doesn't happen next week, china wins, the united states loses it really is that simple and so i'm starting to feel the urgency and coalescing around a slimmed down version with focus on the chips funding >> reporter: what changed, though this is something you have been working on for over a year why do you need to act now in order to make this happen when we're already hearing companies say they're making investmen

. >> joining me is the congress secretary the former governor of rhode island, gina raimondo. what do you attribute to the fact that three-quarters of the country feel the country is heading in the wrong direction? how much of it is economic in your view? >> i think quite a bit of it is economic and specifically i think it's inflation. i would say we have a strong economy. unemployment is down. we have recovered the jobs since lost in the pandemic. people's household balance sheets are strong. however when you go to the grocery store, prices are high. when you fill up your car at the tank, prices are high. and so consumers, americans are feeling that and i think that is largely the reason folks say, as you said, we are heading in the wrong direction. but i was just talking to a ceo of a big companywa do talking t people, what do you think about the economy? and he said, the economy is strong. customers are buying. businesses are strong. people are adding jobs. she pointed out three things things and i've heard from others getting rid of the trump tariffs and boosting illegal i

finally has the first celebration in terms of the statement comes from the commerce secretary gina raimondo who has been pushing for this along with ceos we've had trying to get america to be more of a manufacturing powerhouse on chips and an effort to protect our national security and counter china. >>> we'll stick with congress because solar stocks are soaring on the back of a deal reached between senators manchin and schumer that would invest hundreds of billions of dollars to combat climate change legislation will be brought to the senate floor next week joining us is john berger, sunnova ceo. we talked to you like a week and a half ago when this bill looked like it was dead. >> it was a big surprise, sara so obviously a pleasant surprise and we think it's going to get passed it may not be in the exact same form, but this seems to be moving very quickly. i might add that the news that you just broke, the solar industry is the cousin to the semiconductor industry there's a lot of similarities to it the reasons to do it are very similar in terms of bringing thousands of jobs home to the u

commerce secretary gina raimondo. >> set the cost of inaction is too high.elated events. >> are more frequent, more dangerous and more expensive than they've ever that's not the radical for us in the city of it's real miami republican mayor francis suarez says they're already investing billions to combat rising sea levels. >> and severe hurricanes, he says congress must find a bipartisan solution. last week we did see the president roll out a 2 billion dollar plan to help communities combat severe weather but progresses are calling on the president to go further and declare a climate emergency. >> the president has not yet taken that step for now. washington, raquel martin, back to you. all right. thanks for cal. >> well, coming up on the kron 4 morning news, san francisco is testing 6 new models of trash cans around the city. how you can give your input on the pricey replacements will be right back after the break. it's started. somewhere between a cuddle and a struggle, it's...the side hug. tween milestones like this may start at age 9. hpv vaccination - a

. >> i will talk to commerce secretary gina raimondo. >> plus, the republicans leadership challenge. >> get murkowski out of here because she's not a republican. >> how much influence does former president trump have on the gop? maryland's republican governor rr larry hogan joins me. plus, pat cipollone testifies after cassidy hutchinson's explosive appearance. >> please don't go up to the capitol. we're going to get charged with every crime imaginable if we make that happen. >>> i'll talk to committee member congresswoman stephanie murphy about what cipollone told the committee. >> elon musk wants out of his deal to buy twitter over a dispute about spam accounts. >> he's just reaching out to something to blame. >> we're hear from tara swisher co-host of the box media's pivot podcast. joining me are hallie jackson, daniel la gibba and rich lowry, editor of "national review." welcome to sunday. it's "meet the press." >> from nbc news in washington, the longest-running show in television history, this is "meet the press" with chuck todd. good sunday morning. the phrase you hear most of

we'll be right back in a moment. . >>> we now want to turn to commerce secretary gina raimondo.ave been making this big push for this chips bill that would direct about 50 billion towards the semiconductor industry, computer chips and phones and basically everything. the bill now has about $200 billion in additional spending which i understand you would play a role in helping to dole out in some way. for people at home, why should u.s. taxpayers subsidize a profitable industry? >> right now we are dangerously dependent on other countries, mostly in asia, for our supply of semiconductor. we don't make any leading-edge semiconductors in the united states. those are the sophisticated chips for military equipment and high-end computing. we buy almost all of them from taiwan. the reality is we need companies to expand in america and other countries around the world are providing incentives. >> doesn't rolling out state subsidies of private industry create a dangerous precedent, or are you arguing we need to think of vital trees as partially state funded or subsidized? >> i am saying

commerce secretary gina raimondo said the ceo told her that their plan to build this factory in sherman, texas, is contingent on congress passing the chips act. unless the funding is approved by this august recess, which is rapidly approaching, the company will scrap plans for that facility. as you heard from our colleague from ohio, the ceo of intel expressed a similar sentiment for a planned ohio facility. he said the company would expand chip production in europe instead of america if congress fails to pass this funding. another company, nxp semiconductors, is weighing new investments too. it's looking toking expanding one of its factories in austin, texas, a project that would cost roughly $2.6 billion. the company is planning to decide later this year whether to move forward with that investment or to take that investment to europe or asia. in other words, madam president, there are real consequences on the line. if congress passes its chip funding act in the coming days, we can shore up this domestic supply chain vulnerability, bring good jobs back to america, and protect our econ

with the president's environmental agenda stalled in congress, we will ask commerce secretary gina raimondo about what is next for climate and competition with china. >>> then, the committee investigating the january 6th attack on the detail, new details about former president trump's conduct during and after the adult. >> i don't want to say the election is over. >> will the revolutions have any legal impact on mr. trump's future? >> i announce i was not going to run for office, the persecution of donald trump would stop. >> we will check in with california democratic congressman adam schiff, a member of the select committee. >>anft a u.n. brokered deal was signed to release vital grain exports, russia bombs the very ports where they're stored as the war continues to roil the global economy, we will talk to ukraine's ambassador to the u.s. oksana markarova. it's all just ahead on "face the nation." ♪ ♪ >>> good morning and welcome to "face the nation." we have a lot of news to get through this morning, but we want to begin on the medical beat with the latest on president biden's condition

by the press, experts at a very high level , the minister of commerce of the united states, gina raimondo, spoke and here she assures and the world and actually the country in that i will quote here the economy of the united states of america is not threatened by recession due to the consequences caused by the war unleashed by russia in ukraine well, this is true for you and me it is important to talk about this because someone might think, well , you know, the american economy is far from us, because the state of the american economy depends on how seriously the budget is filled, whether there is a deficit, and the future financial well, and not only the financial support of ukraine well, let's deal with these statements first regarding the economy, because it is interesting and as you and i understand it is important. therefore, the repair assures that in the last year and a half the economy of the united states grew at an unprecedented rate of 5-6%, and the war is all changed this will not happen in the future, it is recognized here in washington even for america and a margin of safety

not only that, to not act, to not invest in american jobs in manufacturing, secretary raimondo described it would cause -- her words, this is a quote -- irreparable harm to the united states economy and the united states military operations, close quote. because when america isn't in the driver's seat, someone else is, and they're taking the wheel. america may well fall behind as a result. so we have not just an opportunity, i think we have an obligation to american consumers and to our nation's workforce to invest right here at home. the action we're taking should be the beginning rather than the end of our efforts to strengthen once again america's economic competitiveness. there are many bipartisan ideas on the table through debate on this legislation. i have some ideas that didn't make it into the final bill. many of them were worthy of our future consideration. as the chairman of the finance committee on international trade that i lead with senator cornyn, i will continue advocating for greater economic engagement in our allies across the globe and especially, especially in the asia

commerce secretary gina raimondo says president biden will announce a decision on easing some chinese tariffs very soon. biden said on sunday that his administration is still in discussions over the issue. my mother also says u.s. lawmakers are playing politics with national security by delaying legislation boosting funding for domestic chipmakers. >> if we are going to do this, what can they do on their side of the equation? so while i cannot say for sure, certainly that is possible. if he does not happen immediately, it is something we will continue to pursue, just in the interest of, as you say, fairness. if we are lifting tariffs, what are they going to do? su: taiwan's vice president visitor took you to pay respects for the former japanese prime minister shinzo abe's death. the vice minister is the most senior taiwanese official to visit japan since 1972. the trip is likely to elicit an angry response from china, which claims taiwan as part of its territory. abe was a largely popular figure in taiwan for his support of the island. global news, 24 hours a day, on air and on bloomb

anne-marie: governor -- secretary raimondo said that it would be on things like consumer goods. if the administration were to lift these tariffs, potentially there would be a probe into other subsidies in the chinese economy. it could be a more targeted approach to other issues they have with china, while at the same time lifting tariffs on consumer goods to try and help the everyday consumer. we should also note, this will not be a light switch. this would take months to potentially drift down to the price consumers are paying when they check out for these goods. kriti: we have about 30 seconds here. i'm curious how this balances out with geopolitical tensions, particularly any alliances china and russia have at the moment. anne-marie: she mentioned russia in her call as well as china's unfair target practices. but we also should look forward to a meeting we found out about this morning, when secretary blinken goes to indonesia to meet with his g20 counterparts. he will also be sitting down with the china foreign ministry, so this story is not ending here. guy: we will keep a c

the white house does not have a timeline on the announcement, gina raimondo explains white she thinkstrump era tariffs make sense. >> lifting tariffs is not going to bring down topline inflation in a very significant way. what i will do, potentially, is help consumers uncertain on household goods. for that reason it could make sense to do it. if he decides to lift certain tariffs, it will be because he knows he has to do everything he possibly can to provide relief to consumers. but he's going to do it in a thoughtful and strategic way. >> in the united states, inflation is at a 40 year high, creating higher prices from everything from gas to groceries. inflation in turkey reached almost 80% in june, its highest level in almost 2 decades. soaring prices are making celebrations considerably more expensive. after two years of pandemic restrictions, the sacrificial market in is simple is coming back to life. this is a time muslims traditionally purchase and slaughter sheep and cattle and share the meet with those in need. often it is seen people haggling, and cutting deals. but the econo

emily: even commerce secretary gina raimondo said even if they did have a reduction of tariffs on chinasomething she is pushing for, it will not have a dramatic impact on inflation. you might see the price lower for some goods, but you will not have that be the overall massive impact on inflation. this is where the biden administration is trying to figure out what to do with inflation. it is not something they control , it has a lot of factors going on. at the same point biden is the one in the white house. needs to figure out ways to move forward. that is partly what we are seeing with this trip, with this tariff discussion. the administration really trying to figure out a path forward when there is not a clear answer of what the white house can do to lower inflation. that is a big issue for a lot of americans right now and going to be a big issue this november. jonathan: emily wilkins in d.c.. it is beyond awkward. there is real tension between the criticism from this administration towards the chinese communist party and the potential to remove some of the tariffs on chinese goods. l

gina raimondo warns the u.s. cannot keep relying on taiwan for semiconductors.n a speech, she said congress needs to pass legislation to court domestic production of high-end computer chips. she called the $50 billion packets a sputnik moment. . -- since the pandemic lockdown of early 2021. a survey of managers size 17-month low. service sector growth, stalled. and the u.k., -- and there is to become the next prime minister. according to a survey of conservative party members, 62% say they would vote for trust. turkey says an agreement to allow shipment of ukrainian grain will be signed today. grain shipments have been stalled as the ports have been blocked since the russian invasion that led to reductions of an increase in world hunger. global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i am ritika gupta. this is bloomberg. ♪ >> i think it's important for us to show support for taiwan. i also think we have -- none of us said we are for independence when it comes to taiwa

jonathan: i'm sure they're not worried about it, gina raimondo, the u.s. commerce secretary.t's part of it, getting inflation down and a stronger dollar will help. tom: to a point, and then it is ambiguity. george of deutsche bank was with us yesterday and he said euro parity is not significant but what is significant is a lack of liquidity due to a global slowdown we are looking at. and getting over in jonathan: the yield space. jonathan:12% -- the yield space. jonathan: 12% move in the euro-dollar, nasdaq down what 1.2%. -- yields lower by seven basis points, to 92.07, and 100.14. -- 1.0014. tom: with one grain of sand at the beach house in cape cod, he put that image in the sky and there is an image of what the james webb telescope has done. i know no one cares, but there is a spectacular image of galaxies, 13 billion years old. joe mathieu knows what is like to look at these images where light travels at the speed of molasses. joe: quite a wind up. tom: quite a wind up because don't we wish washington remley james webb? joe: sometimes the government does cool stuff, this

money into these facilities right here in the united states, and the department of commerce, gina raimondowho is going to be responsible for doling out that money for those who not only make the commitment to do that with the money, but also follow through on it. obviously on the science money, we have a long, long history of the national science foundation doing peer-reviewed research, making sure that money is getting out to our -- i always like to think, to our most promising opportunities, but also just a real long-shot opportunities, opportunities that we don't know what they will ultimately yield. this is about investing in basic science. eye very excited they'll have the resources to do this. >> do you think that we are going to be talking about production independence on leading-edge chips in the next three to five years. >> that is the promise that is what the companies are telling us they can do, and what our folks who look at this say is certainly within our range, or to say it another way, if we don't make this investment, we can pretty much guarantee we won't be having that co

i spoke can secretary raimondo today, and she w5r7bd that the risk of disruption to the supply chain of chips makes us vulnerable. >> i would say this is a national security imperative, period, full stop. it's an untenable, dangerous situation that the united states is in, where we are utterly dependent on taiwan, overly dependent on china for supply of the most critical product for our military and for our economy. >> democrats are trying to salvage the deal by winnowing it down to pretty much the investment in the chips. i'm told congress could begin voting on it as early as next week senator john cornyn today said, quote, we're not going to vote on the chips bill as long as the sword up damacles is hanging out there. >> it seems like republicans and democrats are coming to grips with the urgency of this urgency. if this doesn't happen next week, china wins, the united states loses it's really that simple. i'm starting to feel the urgency and coalescing around a slimmed-down version with the focus and priority on the chips funding. >> shep, the administration is pushing hard to get

and gina raimondo on the economy and maryland's republican governor larry hogan. with elaine auerbach not taking this one against own jib or marking the first ever grand slam singles title for a player from kazakhstan. >>> controversial stars facing off for the men's title. looking to win again against nick curio's going for his first grand slam title. megan fitzgerald is outside of the all english club with the preview. >> a good morning. it's going to boil down to a battle between experience and adrenaline. he is going to be out here today. if he pulls this off he will be one behind rafael nadal who had withdrawal from about lynn earlier this week after an abdominal injury. today is going to be new experience with some added pressure at home and of course off the court as well. he is going to be facing assault charges filed by his ex- girlfriend. they are taking the instagram to ask if they can finally be friends returning the response by saying the winner pays really. >> probably not quite as friendly when they step on that court. thank you so much. >>> let's t

commerce secretary gina raimondo warns the u.s. cannot relying on taiwan for semi conductors in an to an annual security forum. she called the $50 billion package a sputnik moment for america. in the u.k., a new poll shows foreign secretary liz truss extending her lead over former chancellor rishi sunak to be the next prime minister. in a pool of conservative party members, 62% said they would vote for truss, 38% went for sunak. turkey says an agreement to allow shipments of ukraine's grain will be signed in istanbul today. ukraine, russia, and the u.n. will sign the accord. ukraine's grain shipments have been largely stalled as ports have been blocked since the russian invasion. one of elon musk's top executives at tesla the subject of an internal investigation. bloomberg learned omead afshar is being looked at at his role in a plan to purchase hard-to-get construction materials. he runs the company's texas factory. details of his departure are being worked out. global news 24 hours a day on air and at bloomberg quicktake, powered

a lot of talk about the gentlelady of rhode island, the secretary of commerce gina raimondo with bloombergmorning. futures -27. good morning. jonathan: what a week we've got coming up for you. good morning. equities heading south. the countdown to the open starts now. >> everything you need to get set for the start of u.s. trading. this is "bloomberg the open," with jonathan ferro. ♪ jonathan: live from new york city, we begin with a big issue, gearing up for earnings season. >> we've got earnings season. >> huge earnings season coming up. >> positioning in valuation is very bearish. >> between inflation and recession.

. >> this morning, rebecca jarvis and commerce secretary gene ya raimondo on the state of the economyehind closed doors. >> mr. cipollone did not contradict the testimony of other witnesses. >> republican committee member adam kinzinger joins us in a "this week" exclusive. >>> shocking assassination.

we spoke to commerce secretary gina raimondo on bloomberg television.ake a listen to what she had to say. >> yes, it will get done. at this point in the negotiation, unfortunately, politicians look or leverage. and while it is not right to play politics with national security, that is what i think is happening in the past two weeks, we made huge progress. we were closing out issues, finding compromise, so i think everyone just needs to come back today, get back to work, and commit themselves to getting it done in the next you weeks. emily: so she sounds like she is trying to be optimistic, but she is also clearly frustrated. i mean, you've got companies about -- like tsmc spending a hundred billion dollars abroad to increase capacity and we cannot even get a $15 billion bill pastored what is it going to take, have you been locking -- talking to lawmakers? arvind: we have been talking to lawmakers on this issue, on the chip side for the last year. you have a very strong belief that these are good bills for the united states competitiveness. he believed i

this is why the secretary of commerce gina raimondo wants congress to pass a chips only bill before thet becomes early september, early september becomes early october. the reality is these decisions are happening now and that means congress needs to act now appear >> some house democrats are unwilling to budge from the original bill. >> i'm not going to embrace breaking up a package that is consistent with the administration, that has support from some republican senators and overwhelming support from democrats. i think it's a good policy. speak of the bill costs a whopping $52 billion. that is too expensive for some g.o.p. members. >> to spend $52 billion on semi conductors is a lot of money in one industry. when we look at other components, look at baby formula has been an issue. >> senate majority leader chuck schumer plans a vote next week. he needs 68 and he will dare the g.o.p. to vote no. rich? >> rich: chad pergram live on the hill, thank you. up next to the officials, the usaid is falling behind adversaries when it comes to hypersonic missile technology, how they plan to gain

jon: that that's your commerce secretary, gina raimondo, downplaying fears of a recession.mpact of inflation in america, let's bring in texas republican congressmanman lance gooden. congressman, so from your perspective on the financial services committee, what do you say to the commerce secretary who says it's like we're trying to talk ourselves into a recession? >> well, i think the masters of spin at the white house are the ones trying to talk american people out of what's really happening. and i think it's interesting that they now have the commerce secretary doing the talking. i think janet yellen perhaps was too honest, and they're running out of faces that are honest. they're having to pull new people off the bench to spin this narrative to the american people that we're in better shape than we are. and all with we need to do, the average american needs to go to the gas pump or the grocery store, and they know that we're in a heap of trouble. and the reason we're in this position is that the inflationary pressures that we are seeing are a result, in fact, of congress

plus, commerce secretary gina raimondo and kera swisher. we hope you stick around. >>> coming up in about 30 minutes, we speak to larry hurston for our weekly segment. we take a look at gun laws in the u.s. and how they differ from other countries in the wake of recent mass shootings. crews now how the upper hand on the electro fire. it's 72% contained and evacuation orders have been reduced to just warnings. before crews gained control of the fire, nearly 100 visitors were trapped inside a campground in amador county. surrounded by flames, they took cover in this building. they were led there by a pg&e worker who does routine checkups in the workhouse and had the keys to get inside. >> we been through floods and fires and storms. and so we know it can sustain pretty much everything. so it was probably the safest place anyone of us could go. >> wow, what luck. a state inside the powerhouse for 6 hours. after some of the flames died down, they were able to safely escape the fire. >>> new this morning, officials are warning at the slow pace o

and top of this moving recession, has persisted in recent weeks, just around the corner gina raimondo addressing those concerns with the press at this meeting. >> if you were to ask me, what do i think of the economy, i'd say we have a strong economy. unemployment is down, we recovered all the jobs since the loss of the pandemic, peoples household balance sheets are strong. however, when you go to the grocery store prices are high, when you fill up your car the tag prices are high, so consumers americans are feeling that. >> they are feeling. and robert gibbs, do msnbc contributor is joining us now to talk about this, the messaging coming out of the biden administration with all this. so, robert, great to have you. it seems that the messaging coming out of the biden administration, talking about -- what is the economy is quite strong. nonetheless when you go to the grocery store, you're paying a heck of a lot more today than you are six months ago, or a year ago. you're talking about the approval waiting from the president right now, at record low, not a place that he necessarily want

secretary of commerce gina raimondo. russian roulette.there movement to getting brittney griner and paul whelan home? we will talk about a reversal of u.s. policy coming up. this is "andrea mitchell reports." you are watching msnbc. s. you are watching msnbc welcome to allstate, where you can bundle and save. isn't that right phil? i'm in the metaverse, bundling my home and auto insurance. bundle home and auto and save. call a local agent or 1-888-allstate for a quote today. from the #1 fiber brand comes metamucil gummies. getting your daily fiber is now even easier. made with prebiotic plant based fiber to support your digestive health. each serving has 5 grams of fiber and no added sugar. metamucil fiber gummies. there is nothing glamorous about migraines. since i was a teenager the pain has taken me away from my family and friends. but i finally found relief with nurtec odt it's the only medication that can treat my migraine right when it strikes and prevent my next attack. treat and prevent all in one. don't take if allergic to nurtec

commerce secretary raimondo said there is no reason to think that the united states will head for a seriouse white house said there would be no recession. what do you make of this, the type of guidance we should be getting? it feels more like denial that we can't trust? charles, good to be with you. the operative is serious. serious was before recession. so the secretary did not rule out the possibility of recession which is very high because as you know, the first quarter real gdp shrunk 1.6%. fed has it down 1.2%. two negative quarters of negative gdp growth. by thathathat msureeasure asureu cessio iserio ser serere onnct wf i fed fws apn the regitaysayloo and lddid of tngs. ch cpi wednesday, 8.8%, you know, considering what we just saw even from the new york fed it wouldn't be too farfetched to see that with a nine handle f that is the case where does that put the fed? >> well this, well, charles, 9% inflation, you're basically going to get negative consumer spending in the second quarter and the consumer is 70% of the economy which suggests the job market will indeed slow. where does it

commerce secretary gina raimondo set the cost of inaction is too high.mate related events. >> are more frequent, more dangerous and more expensive than they've ever bad. it's not theoretical for us in the city of it's real miami republican mayor francis suarez says they're already investing billions to combat rising sea levels and severe hurricanes. he says congress must find a bipartisan solution. progress is on capitol hill continue to call on the president to declare a climate emergency. >> the administration has not yet taken that step. but last week the president did rule out a plan to help communities combat extreme weather. for now in washington, raquel martin, back to you. all right. coming up on the kron 4 morning news, san francisco is testing 6 new models of trash cans. >> around the city, how you can put in your input on the pricey replacement will have more on that in just a few minutes. hanged our fries to make 'em hot & crispy every single time. high-fryve! and every single time, toby insists we “high fryve.” high-fryve? high-fryve. high-f

achieve, you know, quick, decisive victories with underwhelming force and commerce secretary gina raimondo explained on cbs face the nation. why protecting taiwan is a national security priority. and those are the sophisticated chips that you need for military equipment and high-end computing. we by almost all of them from taiwan. >> that was joe khalil reporting for us tonight. pope francis began and historic visit to canada today to apologize to indigenous people abused by missionaries at residential schools. the pope kissed the hand of a survivor as he was greeted at the edmonton airport by indigenous representatives, as well as canadian prime minister justin trudeau. the gesture setting the tone of what francis is calling a penitential pilgrimage to a tone for the misdeeds of catholic missionaries in the forced assimilation of native children. >> coming up after the break, the san francisco marathon returned today to the city by the bay. what was different about today's racing which was run in full for the first time since the beginning of the pandemic. >> and in sports, what's klay th