month alan fischer al-jazeera washington economist claudia som has been part of the white house council of economic advisors and she's a senior fellow at the jane family institute she says the package is a huge moment for the u.s. . when president biden signs us into law on friday it will be historic it is absolutely needed it is one year ago from tomorrow march 11th that the bottom fell out the united states tragically we are still in a pandemic we are still losing loved ones every day and we are 9 and a half 1000000 jobs short of where we were last february before cove it came this is another 2 trillion dollars after 4 trillion dollars last year this is real money and it makes sense that we are having a robust debate and yet what we have learned what the democrats have learned is that going too small can be disastrous this relief package is the kind of forceful push to a real recovery for everyone that we needed in 20122013 we didn't get it and yes there are risks yes the economy could we could really push it and we might see some inflation but it's really really harmful if it takes years for people to ge

washington let's bring in matt cloyd asama she is an economist who was previously on the white house council of economic advisors and is currently the senior fellow at the family in-situ joins us from washington d.c. claudia welcome to the program said this is a new and no doubt welcome round of a to americans how important is it. right is very important so when president biden signs us into law on friday it will be historic it is absolutely needed it is one year ago from tomorrow march 11th that the bottom fell out in the united states tragically we are still in a pandemic we are still losing loved ones every day and we are 9 and a half 1000000 jobs short of where we were last february before cove it came it is the massive injection of dollars in a very short time is that maybe 2 trillion dollars how much of a risk is the president taking had there off is on the size of stimulus is too much and could end up having a negative effect on the economy. that's right so this is another 2 trillion dollars after 4 trillion dollars last year this is real money and it makes sense that we are having a robust debate and yet

jonathan: that was the white house council of economic advisors. good morning. i am jonathan ferro. keene is back with us at the end of the week. who knows? we look like this on the s&p 500. we are down about half of 1%. up by 17 or 18 points. stocks are softer, even on the nasdaq. yields are about five basis points. this risk off move, if we can call it that, reflected in the fx market. the aussie weaker. you can see the spill over the commodity market. some important levels on crude. a move is there for all to see. a bit of risk aversion. lisa: the narrative is less consistent and that is what you are picking up on, and rightly so. it is not all about yields or inflation expectation or about how much policy, how much money the federal government can pump into the economy. it is about something else. can we get the proof and the actual numbers? will this be a buy the rumor, sell the news kind of event? jonathan: i want to see some data. show me 2022, show me what gdp looks like. that will inform me of the deceleration and i can start thinking about deeply about what happens with yie

we had of course rouse was confirmed as the first woman of color to lead the white house council of economic advisors with 94 votes. a number nominees who the president has put forward have received an overwhelming majority of support from democrats and republicans. core don'ta was just con -- car don'ta was just confirm -- cardona was just confirmed. they're each looked at individually. the president nominated attorney general becerra to lead the department of health and human services because he has a record of fighting alongside democrats and republicans to expand access to covid treatments and to take on abusive practices of tobacco companies. he's a career of work -- he has a career behind him working to increase access to quality, affordable health care and to protect underserved communities. he helped create the affordable care act, something of course the president was serving as vice president during that period of time. and stood up for it in court. and his nomination has been met enthusiastically by health care experts including the american hospital association, the keizer family foundati

jonathan: the white house council of economic advisors member there.m new york city this morning, good morning. alongside lisa abramovitz, i am jonathan ferro. tom keene not with us. he will be back monday. s&p 500 higher by 0.2%. the nasdaq, dipping into decorative territory. in the fx market, the euro with a 117 handle against the dollar. euro-dollar -- 117.77. and can we round up the price action on this? bitcoin year to date? the reason i bring this up, year to date, up 83.46%. it is because troy gayeski was on the show about five minutes ago. if you missed the conversation, here is a summary of his best macro trade idea -- bitcoin. this may be the year where success will be determined by whether or not you had a meaningful position on bitcoin similar to how the 2007 success was determined by whether or not you had a meaningful subprime short exposure. he is not doing anything about it, he is staying with this trade. lisa: fascinating conversation. 5% in december to 13% now, that is what he said. . to me, the idea that this is the biggest macro had

. >> joining me now is cecilia rouse, chair of the white house council of economic advisors.or being with us. a lot to talk about today. let's talk about promoting the stimulus and it's more than a stimulus because

. >> joining me now is cecilia rouse, chair of the white house council of economic advisors. welcome, it's great to see you. this is our first interview. thanks for being with us. a lot to talk about today. let's talk about promoting the stimulus and it's more than a stimulus because it's a relief package and it's this new child tax credit which is really revolutionary. it's very, very popular. 70% popular with the american people. what is the thinking behind this big kickoff this week to promote it nationwide? >> well, look, we are still in the midst of this pandemic, and we know that we can't get out of our economic crisis until we get through the health crisis. so the thinking behind the american rescue plan is that we need to address the problems caused by the pandemic. part of it is is to help get the vaccine eggs and get the shots in people's arms. we recognized since the beginning of the pandemic we've lost 9.5 million jobs and we've got over 4 million people who have been unemployed for at least a year. people are struggling and one in five adult renters are behind in

dr teresa geralducci of the new school and dr kevin hassett former chair of the white house council of economic advisorse the case for expanding access to the tsp to tens of millions of americans who currently do not enjoy participation in an employer-sponsored plan. they argue that the design of the tsp makes it an ideal model for helping low and moderate income workers build wealth ensure a comfortable retirement and grow a nest egg that can be passed on to future generations. the tsp is an incredibly well designed program. participants enjoy automatic enrollment a simple menu of options for investment an easy user interface, very low expense ratios, and matching contributions, of up to five percent of income, along with a number of other features, that when combined have proven to generate remarkably strong participation among eligible workers. the beauty of the tsp is that it is a proven and carefully studied model that performs exceedingly well for the very traditionally marginalized workers that have largely been neglected by u.s retirement policy. participation rates for example among those with

let's bring in austan goolsbee, former chair of the white house council of economic advisors who's nowme. thank you for having meet. we have _ on the programme. thank you for having meet. we have never- on the programme. thank you forj having meet. we have never seen on the programme. thank you for i having meet. we have never seen an effort like this _ having meet. we have never seen an effort like this in _ having meet. we have never seen an effort like this in the _ having meet. we have never seen an effort like this in the united - effort like this in the united states, the child tax credit, the income tax credit, to tackle inequality. it is very new. what do you think it will do? i inequality. it is very new. what do you think it will do?— you think it will do? i think the first thing. _ you think it will do? i think the first thing, keep _ you think it will do? i think the first thing, keep objecting - you think it will do? i think the first thing, keep objecting to i you think it will do? i think the i first thing, keep objecting to the word _ first thing, keep objecting to the

white house for his signature. biden is still seeing facing resistance. a member of the president's council of economic advisors telling bloomberg the stimulus bill will not overheat the economy. >> the plant itself spends out over a couple years. some folks on the overheating team do not recognize the spend out pattern. then there is slack. there's still way more slack in the labor market. and of course savings. that also puts downward pressure on price pressures. haslinda: joining us now is asia-pacific investment strategist at citi private bank. the $1.9 trillion stimulus may not overheat the economy, but there could be repercussions in the market. >> absolutely. i think what that will do immediately is the 400-plus billion dollars in checks and extended unemployment benefits will go into retail. and some of that money will go into a reopened travel industry. you mentioned thailand and australia. these things are going to pick up more. and reopening of travel would be a big deal in the months to come. haslinda: fair to say buy dips, because stocks are going higher and higher from here. ken: well, look, i thi