JOINING US AT THE TABLE IS BLOOMBERG'S CORRESPONDENCE.
THE SPEAKER SIMPLY PREPARED NOT TO DO. [LAUGHTER]
HE ISSUED A PREEMPTIVE REJECTION.
SUCH CLASSIC WASHINGTON SPEAK. WE DO NOT THINK THIS IS GOING
TO THE HOUSE?
>> I WOULD BE INTERESTED IN SEEING THE WHITE HOUSE COUNT OF
VOTES HE IS CONVINCED HE WILL PASS THE HOUSE.
A LARGE NUMBER OF REPUBLICANS IN THIS NARROWLY DIVIDED HOUSE
TO BLOCK THE BILL, SPEAKER JOHNSON DOES NOT HAVE TO BRING
IT TO THE FLOOR. THERE IS SOME DISCUSSION TODAY
ABOUT THIS MOVE CALLED A DISCHARGE POSITION WHICH IS
COMPLICATED. JOE: YOU ARE NOT BUYING INTO IT,
ARGUE? -- ARE YOU?
>> IT WOULD TAKE BOTH SIDES WORKING TOGETHER, IT IS
UNLIKELY TO HAVE IT. REPUBLICANS, EVEN THOSE WHO
MIGHT BE FOR THE BILL MIGHT THINK TWICE ABOUT GOING AGAINST
THE SPEAKER, IT IS THE OLD SCHOOL IT IS NOT DONE, THOSE
WHO MIGHT MOVE TO GET RID OF HIM, IF THIS GOES TO THE FLOOR
TOO. KAILEY: HAKEEM JEFFRIES, THE DEMOCRATIC
LEADER IN THE HOUSE HELD A NEWS CONFERENCE SAYING THAT HE
THINKS THERE ARE 300 VOTES THAT WOULD VOTE FOR THIS IF
ULTIMATELY THEY HAVE A CHANCE TO. HE SAYS HE WOULD USE EVERY
LEGISLATIVE TOLD THAT HE CAN WHICH WOULD IMPLY THAT
DISCHARGE PETITION IS POTENTIALLY AVAILABLE UNLESS IT
IS HARDER TO DO IN PRACTICE AND THEORETICALLY?
I THINK THAT IS WHAT YOU ARE GETTING AT?
>> IT SOUNDS THOUGH SPEAKER JOHNSON IS LISTENING AS WE CALL
HIM TO THE AUDIENCE OF ONE. ONE PERSON WHO DOES NOT WANT
THIS TO PASS LIKE HE DID NOT THE BORDER BILL TO PASS LIKE
FORMER PRESIDENT DONALD TRUMP WHO WANTS THIS TO BE AN ISSUE
IN THE CAMPAIGN AND WANTS -- IS AGAINST YOU, I SHOULD SAY, ANY
FOREIGN ASSISTANCE -- AGAINST, I SHOULD SAY, ANY FOREIGN
ASSISTANCE. JOE:
DEMOCRATS HAVE ISSUES WITH THE ISRAEL COMPONENTS. JOE:
THREE VOTES AGAINST IT FROM THE DEMOCRATS. KAILEY:
TO RETURN TO YOUR POINT ABOUT MIKE JOHNSON GETTING OUSTED,
DEMOCRATS COULD COME IN, COULD THEY ACT TO PROTECT HIM?
THEY DID NOT DO WITH MCCARTHY. IF THEY WERE TO ALLOW THE A
PACKAGE TO GET THROUGH, PERHAPS IT IS A DIFFERENT CALCULATION?
>> THAT IS A LOT OF DEALMAKING, I DO NOT KNOW THE EXTENT TO
WHAT WE SHOULD BE READING INTO HAKEEM JEFFRIES?
WHILE HE SAFE MIKE JOHNSON?
>> IN THE PAST THE ANSWER HAS BEEN NO, BUT THERE HAS BEEN
TALK THAT THIS LEGISLATION IS SO IMPORTANT AND THE PRESIDENT
ONCE IT PASSED AND DEMOCRATS SUPPORT THE PRESIDENT IN HIS
REELECTION YEAR AND WOULD WORK TO KEEP THE SPEAKER IN HIS JOB
ONLY TO GET THE LEGISLATION PASSED, WHETHER POLITICS, IT IS
HARD TO TELL ANYMORE IF ANYBODY PLAYS ANY RULEBOOK. KAILEY:
ON THE SUBJECT OF IT BEING AN ELECTION YEAR, WHEN VOTERS ARE
GETTING READY TO HEAD TO THE POLLS IN NOVEMBER, HOW DO THEY
THINK ABOUT THE ECONOMY. THAT IS SOMETHING THE PRESIDENT
HAS TO CONSIDER. IT IS NOT NECESSARILY A PRINT
OF THE ADMINISTRATION WOULD HAVE LIKED TO SEE, HOTTER
INFLATION THAN EXPECTED, IS THIS THE START OF THE BIG
CELEBRATION RATHER THAN THE DISINFLATIONARY PRESSURES
EVERYBODY WAS HOPING FOR?
>> IT WAS NOT GOOD NEWS, HIGHLIGHTING CORE INFLATION.
FOOD PRICES ARE UP, PRICES FOR CAR INSURANCE OR TRAUMA PRICES
FOR HEALTH CARE ARE UP, STAPLES EVERYPNE PAYS FOR -- EVERYONE
PAYS FOR. HIGHER INTEREST RATES, THE
STORY IS DISINFLATION, THAT IS IN QUESTION AND THE POLITICAL
STORY IN TERMS OF IT SPILLS INTO PEOPLE'S ATTITUDES WHEN IT
COMES TO VOTING IN THE ELECTION LATER THIS YEAR.
ON A GOOD INFLATION READING. JOE:
IS IT SAFE TO SAY WE WILL HEAR FROM THE WHITE HOUSE THAT THE
ADMINISTRATION IS ESSENTIALLY POWERLESS AT THIS POINT TO
IMPACT INFLATION? THEY HAVE TAKEN A WHACK AT
SUPPLY CHAINS AND OTHER ACTIONS THE ADMINISTRATION HAS TAKEN.
ARE THEY WATCHING THIS WITH THE REST OF US NOW?
>> THE CASE FOR IT IS SEASONAL IMPACTS FROM JANUARY, CONTRACTS
BEING RESET LIKE INSURANCE CONTRACTS IN THE HEALTH SECTOR.
JANUARY WAS A BAD HIT IN FEBRUARY AND MARCH WE GET BACK
TO DISINFLATION.
OTHERS WILL SAY WE ARE INTO THE FAMOUS LAST MONTH, PLENTY OF
KNOTS IN THE SYSTEM. PLENTY OF PRESSURE ON SHORTAGES
OF KEY SERVICES, SHORTAGES OF LABOR IN SOME AREAS.
NONE OF THAT WILL BE FIXED IN A HURRY.
THE GOVERNMENT IS ABLE TO BASH AT THE END RESULT IS WE HAVE
INFLATION HIGHER THAN THEY WANTED TO BE.