President Biden, Biden Administration, Michael Buck discussed on Bloomberg Surveillance


And that's just one of the advantages we have here is the depth of these guys. So like the advantage we have with the depth of knowledge. Of our news in New York City. Here's Michael buck. Tom Paul, thank you very much. Congress has avoided what President Biden says could have been a Christmas catastrophe. The Senate voted 80 to 15 yesterday to pass a bill to avert a looming rail strike after multiple unions had rejected a deal, partially negotiated by the Biden administration. One senator, Kentucky's Rand Paul, voted present on the measure. The president says he will sign it as soon as it reaches his desk, Greg the young professor on operations management at southern Illinois university says that the issues and contract may need to be renegotiated sooner rather than later. What was supposed to be a 5 year contract back at the beginning of 2020, now is only a two or three year contract at the beginning of 2023. So even though this seems to solve the problem for now, in a few years, we'll be back at the bargaining table again. Professor de young says because a rail strike could have severely impacted the economy. Congress has the authority to enact legislation to prohibit or delay transportation strikes. The Supreme Court denied President Biden's request to overturn a lower court's ruling, blocking his student loan forgiveness program, they did agree to take up the legality of the plan. President Biden welcomed French president Emmanuel Macron and his wife to The White House last night for the first state dinner of his presidency. The president Macron and his wife Brigitte to France ladies and gentlemen to the history of the binds us and the values are still united and the future we're going to forge together. On the menu for the 330 guests at the dinner, butter poached Maine lobster and orange chiffon cake with roasted pears. Live from the Bloomberg interactive broker studios, this is global news 24 hours a day on air and on Bloomberg quicktake. Powered by more than 2700 journalists and analysts more than a 120 countries. Michael Barr, this is Bloomberg temple. We're going to be quick here, but you know, Tiffany wilding was the pimp car we're waiting John farrow's conversation with secretary of labor on that railroad strike and the legislation the president is going to talk about here. I believe at ten 15. What were the recipe items? You were there. You were sitting in black tie. That was it. Dinner was butter poached Maine lobster. Oh, that's good. Orange, chiffon cake with roasted pears. So that's an American dinner. They didn't try to do, you know, French cuisine. They did. The real question is, California wines? I mean, do we know where the wine came from? These are the French. I mean, you can not change it. You gotta go all in. You can't be Boone's farm. No, you can't do that with the French president. What'd you call that? That was great back in the day. Too much already. We'll leave it there with Michael Barr, the cuisine of the borough household with bonsai. He's also got the MD 2020 gone. Michael barber, we will continue right now. Let me frame this up because this is a different kind of conversation. It's going to be with Martin Wallace, former mayor of Boston, and of course a guy coming out of south Boston and dorchester who was in union organizations. He viscerally gets the union movement of America and with that said, there is a railroad strike to review for those in that brief. It's been months in the work of getting the government the Biden administration to agree with the railroad companies. And with the leadership of the unions in basically Paul, the union members, not a majority, but many, many of the various unions and their members have said maybe not. Yeah, this was a contentious obviously a contentious negotiation agreement. It had a lot of support from the rail union workers, but not all. And that's what made it difficult required this administration to have to step in because again, the media reports were for this would be very costly if it went on strike to pay this time of year. We've got an agreement and we'll hear from the president here in roughly 30, 35, 40 minutes, and just in moments we will go to secretary wash down negative two 96. SPX negative 44 is well, the vix under 2019 .99, that is important to me. This morning, the yield, the two year yield up 11 basis points higher yield 4.34%, and then ten year yield 3.8%. Pausing in time keen on Bloomberg nationwide and now with the secretary of labor here on a jobs day in the shock of good employment are John farrow. And

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