Merrick Garland, Bloomberg World Hank, Bloomberg Radio Here discussed on Balance of Power


From Bloomberg world Hank waters I'm Charlie how to fit Wednesday the Dow the S&P nez stack all advancing after a bullish forecast from tech giants traders scooping up some of the most battered shares during a sell off sparked by fears the Federal Reserve could accelerate the unwinding of pandemic era stimulus to combat inflation We will be getting that fed decision 43 minutes from now just over an hour we'll have the news conference for you live here on Bloomberg radio Here's where we stand S&P up 71 now that is a gain of 1.6% The Dow up 340 up by 1% as stack up 350 that is a gain of 2.6% Ten year yield 1.77% spot gold down $17 ounce down 9 tenths of 1% at 1830 ounce West Texas intermediate crude 87 28 a barrel up by 2% Brent crude trading above $90 a barrel today right now 89 89 a gain for Brent of 1.9% So again recapping fed Wednesday with the S&P up 70 up 1.6% I'm Charlie pellet That is a Bloomberg business flash Charlie thank you and thanks for being with us on balance of power Sometimes the mics just open June It's remarkable I know you have to watch that Bloomberg law host June Grasso staying with us here as we also add Neil devins to the picture on this breaking news day that's got all of us talking here Justice Steven breyer retiring Neil Devin's professor William and Mary law school and author of the company they keep how partisan divisions came to the Supreme Court Neil with that in mind the partisan division on this court will remain the same no matter what the president does right That's correct The appointment of a new justice is not going to change the ideological composition of the court in any significant way So what does that mean for the confirmation process Does that grease the skids a bit with everyone kind of understanding where we are in terms of numbers The democratic majority thing is it may be on Capitol Hill Does this get done easily It will depend a little bit on the nominee of course I think that it's an opportunity for Republicans to play nice so to speak with Democrats after Merrick Garland and all the bad blood that followed that experience So perhaps it will be a smooth confirmation process but again if the president appoints someone who the Republicans feel they can defeat and perhaps delay the process in a way that it might last until the midterm election Who knows It might be uglier than ever but I think chances are it will go more smoothly as a Republicans will want to have a reputation for playing nights as the ideological balance is not in doubt Well what levers do they have to delay at that long Is that even possible They don't have many levers of course the majority is going to run the show But at the same time there are potentially one or two Senate Democrats that depending on the nominee and what comes out of the president's mouth So to speak could slow things down but I think that's correct that chances are the leverage with the Democrats the Republicans who want to play nice not going to change physiological balance It's likely to be a fairly smooth process June grosso does this end the conversation not that we've heard a lot about it lately but it was big on the campaign a year ago The conversation about stacking the court Or does it renew it I don't think it ends the conversation at all because as you and Neil said this doesn't change the ideological balance And come June we're going to see a lot of decisions by this court I believe that come down 6 to three including an abortion rights decision Now whether that it's anticipated that the court from the questioning will cut back on abortion rights or even eliminate roe V wade So once that once that happens I think you're going to hear again a lot of talk about packing the court I don't think it's going to happen but I think you'll hear a lot of talk about it Well this motivate progressives to push for that Neil I think progressives will push as much as they can but it's a losing battle to pack the court It may be an opportunity for some of the Senate Democrats on the judiciary committee to use the confirmation processes of vehicle to air their grievances with the imbalance on the court or their grievances with what happened with Merrick Garland and try to create some forward momentum for reform but there seems to be no real energy to change the composition of the court You're not compelled by the personality side of all of this You know this is a justice known for having a sense of humor known for saying some outlandish things Some fun opinions to read Is that going to be kind of a Dave gone by on the court after this Well I think you know we saw one day gone by with the loss of justice Scalia And justice Scalia and justice breyer on the bench at time seemed like they were so much in sync and they were almost doing a comedy do or at different times They were like that bench has never been It's been a hot bench Since then but it's never been quite the same but just as briar has a profess attitude on the bench But he sometimes gives the zaniest hypotheticals I mean they're just so zany that I don't think you'll ever go to hear those again from him And I think that will be missing on the bench that and also he's been on the bench 30 years and he has such a weight of knowledge And I wonder how the change to justice Sotomayor will be leading the minority on the court the minority being the court's liberals when justice breyer retires and I wonder if there'll be any change and maybe Neal would know This better will there be any change in the dynamic with her as the leader of the minority Yeah what does this mean for justice Sotomayor Neal Well as June just noted it increases her power exponentially If it's a 6 three decision with the three progressives through Democrats on one side justice some of my or will determine who writes the dissenting opinion and that's a fairly significant power It's obviously better to be on the majority side to have power But if you're on the minority being able to figure out who expresses the views and how far to push things and try to change the discourse for future court in a future year it's an important We only have 30 seconds left just for both of you You expect a new justice in place before November yes I do but then what Neil said could happen there's always a possibility something Odds are in that favor though Neil Yes They're totally in that favor Thanks to both of you William and Mary law school professor Neil devons And of course Bloomberg law host June grosso helping us walk through the breaking news That's all for balance of power We have special coverage.

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