17 Burst results for "Council Of Economic Advisors"

"council economic advisors" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:47 min | 9 months ago

"council economic advisors" Discussed on Bloomberg Radio New York

"Than walls to protect workers that we really need In the wall and the bridge Hubbard proposes a series of private and government programs to help workers build a bridge to the future Because in the end even painful change is essential to capitalism which echoing Ken langone is the system that in the long run will do the most people the most good which works better for everybody And there's no doubt in my mind capitalism And we're delighted to be joined now by one of our regular contributors here on Wall Street He's Glenn Hubbard former chairman of the council economic advisers certainly of Columbia business school And most important for this purpose the author of the new book the wall and the bridge Glen thank you so much for being back with us It's a fascinating book An important book In reading through it I have the strong sense part of your motivation was you have some concerns for the future of capitalism Because to some extent inherent in capitalism is a dynamism and a creativity that can lead to some destructive qualities I think that's a 100% right data You know it's like a coin with two sides economists policy makers business people we often talk about the growth and dynamism side of capitalism that's why we're in the game It's hugely important The flip side of its disruption on many of us frankly most of us win from a lot of the disruptions I talk about in the book but not everybody And I think we have to notice those who have been left behind and figure out how do we get everybody to be able to participate in our economy not a new idea It was actually Adam Smith's idea We need to put the liberal back in neoliberalism Classical liberal that is awesome Let me ask you Glenn as an economist Dynamic capitalism inherently lead to increasing inequality I don't know about that but it certainly needs to generate churn and disruption You know many jobs and industries that exist today didn't exist a hundred years ago That's the good news The flip side of that is that people's livelihoods communities firms and industries can be at risk That too is not a bad thing as long as we prepare people You know when that was talked about the wealth of nations he talked about competition and openness And those are good things But I think if Smith were alive today he would talk about the ability to compete in the world we have with technological change in globalization Is everybody really at the starting line I think that's the inequality that would have worn SNP and should worry us Glenn in your book there's a lot of talk about dynamism creativity innovation and how important that is For a society for growth and for the individuals in it At the same time you have a distributive notion as well called mass flourishing that you actually go back to Adam Smith and say man as was consistent with Adam Smith talk to us about mass flourishing Well man's flourishing is more than GDP You know when Smith wrote the wealth of nations there was no GDP although he did talk about maximizing the size of output I also think that the smith of the theory of moral sentiments where he used an expression mutual sympathy and today we might call empathy I think the right economic ideas everybody in the world everybody participating everybody flourishing into the minds of the classical economists flourishing meant participating in the economy the ability to have meaningful work And I think that's really what the book is about How do you build bridges to that kind of work A bridge either takes you to somewhere or brings you back and taking you two could be preparing you for the jobs of today and tomorrow and taking you back is rethinking social insurance Do you have a way to reconnect people who fall out of the boat to the boat What if you knew for a certainty that in order to have truly mass flourishing you had to give up some of the dynamism Would you make that trade I wouldn't and that's the point of the book I think there are a number of people that I note in the book that Adam Smith with school if he were here today It suggests that you can just sort of haircut dynamism The real issue is compensating people who have been left behind We have old expressions in economics the same professor who told you that trade is good or technological advances are good He or she also told him that's because the gainers can compensate the losers And by compensation what I talk about is not writing people check or pinching them off But investing in getting people connect preparing people for work and preparing people who got left behind That's something we used to do in the country The land grant colleges of the 19th century the GI Bill of the 20th century I suggest ways we can bring those life to life today Glen Hubbard thank you so very much He's the author of this terrific fascinating and really important new book The wall in the bridge of course.

Ken langone Adam Smith Glenn Hubbard council economic advisers cert Glenn Hubbard Smith Glen Hubbard
"council economic advisors" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:50 min | 9 months ago

"council economic advisors" Discussed on Bloomberg Radio New York

"Than walls to protect workers that we really need In the wall and the bridge Hubbard proposes a series of private and government programs to help workers build a bridge to the future Because in the end even painful change is essential to capitalism which echoing Ken langone is the system that in the long run will do the most people the most good which works better for everybody And there's no doubt in my mind capitalism And we're delighted to join now by one of our regular contributors here in Wall Street He's Glenn Hubbard former chairman of the council economic advisers certainly of Columbia business school And most important for this purpose the author of the new book the wall and the bridge Glen thank you so much for being back with this It's a fascinating book an important book In reading through it I have the strong sense part of your motivation was you have some concerns for the future of capitalism Because to some extent inherent in capitalism is a dynamism and a creativity that can lead to some destructive qualities I think that's a 100% right data You know it's like a coin with two sides economists policy makers business people we often talk about the growth and dynamism side of capitalism that's why we're in the game It's hugely important The flip side of its disruption on many of us frankly most of us win from a lot of the disruptions I talk about in the book but not everybody And I think we have to notice those who have been left behind and figure out how do we get everybody to be able to participate in our economy not a new idea It was actually Adam Smith's idea We need to put the liberal back in neoliberalism Classical liberal that is awesome Let me ask you Glen as an economist Dynamic capitalism and inherently lead to increasing inequality I don't know about that but it's certainly needs to generate churn and disruption You know many jobs and industries that exist today didn't exist a hundred years ago That's the good news The flip side of that is that people's livelihoods communities firms and industries can be at risk That too is not a bad thing as long as we prepare people You know when Adam Smith talked about the wealth of nations he talked about competition and openness And those are good things But I think if Smith were alive today he would talk about the ability to compete in the world we have with technological change in globalization Is everybody really at the starting line I think that's the inequality that would have worried Smith and should worry us In your book there's a lot of talk about dynamism creativity innovation and how important that is For a society for growth and for the individuals in it At the same time you have a distributive notion as well called mass flourishing that you actually go back to Adam Smith and say man this was consistent with Adam Smith Talk to us about mass flourishing Well mass flourishing is more than GDP When Smith wrote the wealth of nations there was no GDP although he did talk about maximizing the size of output I also think the smith of the theory of moral sentiments where he used an expression mutual sympathy that today we might call empathy I think the right economic ideas everybody in the book everybody participating everybody flourishing into the minds of the classical economists flourishing met participating in the economy the ability to have meaningful work And I think that's really what the book is about How do you build bridges to that kind of work A bridge either takes you to somewhere or brings you back and taking you two could be preparing you for the jobs of today and tomorrow and taking you back is rethinking social insurance Do you have a way to reconnect people who fall out of the boat to the moon What if you knew for a certainty that in order to have truly mass flourishing you had to give up some of the dynamism Would you make that trade I wouldn't and that's the point of the book I think there are a number of people that I note in the book that Adam Smith would school if he were here today It suggests that you can just sort of haircut dynamism The real issue is compensating people who've been left behind We have old expressions in economics the same professor who told you that on trade is good or technological advances are good He or she also told you that's because the gainers can compensate the losers And by compensation what I talk about is not writing people check or pinching them all but investing in getting people connect preparing people for work and preparing people who got left behind That's something we used to do in the country The land grant colleges of the 19th century the GI Bill of the 20th century I suggest ways we can bring those life to life to that Go on Hubbard Thank you so very much He's the author of this terrific fascinating and really important new book The wall in the bridge of course he is from Columbia.

Adam Smith Ken langone Glenn Hubbard council economic advisers cert Hubbard Smith Glen Columbia
"council economic advisors" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:12 min | 1 year ago

"council economic advisors" Discussed on Bloomberg Radio New York

"Doesn't come to me to say what should my political strategy be Exactly He's got those antenna better than anybody else in this dwelling over there When he comes to me is talk to me about how we can relink economic growth productivity and the prosperity of the American middle class That kind of connective tissue that policy is what he comes to his economic team for to the members of the council economic advisers and national economic domestic policy council were all working to try to craft the economic tissue to reconnect growing GDP and the well-being of the American middle class And if you tick through the building block better agenda you will see that on every line Good union jobs in improving the climate Healthcare helping to be more affordable for families prescription drug costs coming down Child care elder care educational accessibility Key issues for middle class family that's what he comes to his economic team for Let's talk about build back better and trying to keep a democratic majority in the House and the Senate I know that's not your remit at The White House but what is so important Jared Bernstein is the calendar How long are you giving What's your timeline I'm Long Beach in LA to improve and get the sub Are we talking weeks to fix this months You know I was just gonna go into the primary season of the 2022 election You know my understanding is that these changes are taking place as we speak We've got Walmart UPS FedEx Samsung Home Depot and target talking about moving an additional 3500 containers a week off of the ports into trucks with chassis and onto warehouses and then on to shelves So this is fast acting intervention Longer term that's where the building back better agen that comes in and look again I'm going back to this The absence of investment in public goods both in human capital in education and healthcare and climate and in concrete public capital bridges potholes clean water systems for the longer term if we're going to address the supply side shortfalls that we're seeing here in a microcosm and a lasting way then we have to pass lasting legislation to do So and that's the infrastructure plan and building back better Doctor Bernstein thank you so much for joining us This first conversation after the president's speeches this has been wonderful for Bloomberg radio And Bloomberg television Back to you please All right Tom keen there in our D.C. bureau as you heard him say there with White House counsel of economic advisers member Jared Bernstein They are from The White House And it is all about global transportation supply chain bottlenecks That is the conversation certainly front and center but interesting how it again turned to politics in terms of the infrastructure program and plan that President Biden and his team are trying to get through Exactly Yeah doctor Bernstein of The White House council of economic advisers very quickly connecting the two issues and saying hey this is why we need to pass this plan and the build back better plan as well Yeah talking about investments needed for supply chain resiliency All right you are listening to Bloomberg business We care master Tim's denim Let's go check on the world of business A look at the trading day here is Charlie I thank you very much Carol mass with 34 minutes to.

council economic advisers and Jared Bernstein Samsung Home Depot Doctor Bernstein Long Beach Bloomberg White House FedEx Walmart Senate LA House President Biden White House council of economi D.C. Tom Bernstein Tim Charlie
"council economic advisors" Discussed on Masters in Business

Masters in Business

07:03 min | 1 year ago

"council economic advisors" Discussed on Masters in Business

"In business with berry renolds on bloomberg radio this week. I have an extra special guest. His name is brian. He is the director of the national economic council at the white house and essentially the chief economic advisor to president biden previously. He was the global head of sustainable investing at black rock. And he was president obama's senior adviser for climate and energy policy. Brian deese welcome back to masters in business. Thanks very it's great to be here. So so let's start with your role. In this new administration you are the thirteenth director of the national economic council. I think most people are more familiar with the council of economic advisers. Tell us a little bit about this group. What it does and how it differs from the ca. So the key. The national council was created by executive order in the early nineteen nineties with the goal of having a white house entity that could coordinate economic policy on behalf of the president the Some people think about the way. But i think the more natural analogue is the national security council so the national security council existed in the white house as a way of coordinating policy on national security and foreign policy issues. The national economic council was modeled to do the same for For both domestic and international economic priorities. So if you go back and you read the executive order that was created in the early nineteen nineties if holds pretty true today. So what does that mean number. One how they see Effective way to coordinate and aggregates abuse of all of the key economic policy principals. The secretary of the treasury the chair. The council economic advisers are commerce secretary labor secretary And down the line create common table around which we can debate and discuss and provide the president queer policy recommendations and clear economic advice and at the same time have a coordinated way to take direction from the president about his views at his His direction on the economy and drive across a broad interagency of the executive branch. You to your question. About the council of economic advisers the council's economic advisers is designed as a mostly an internal think tank of economists and experts. Many of whom come out of academia and spend one or two years at the council and provide a an analytical base and economic base to think through issues do provide analysis And really kind of a thought center like counselors really designed to coordinate bringing those views to the table but also Connecting them to the legislative and political realities that we're operating in to try to get the best outcomes possible and services the presence goals so so let's talk a little bit about Your boss the president and some of his goals last week. He signed an executive order to quote promote competition in the american economy. We've kind of become used to these sort of one. Pager photo ops for executive orders but that was not what this was it. It's a seven thousand word. Seventy two bullet point document and and it's very serious policy initiative. Tell us what was the thinking behind rolling out this new policy this way. Well i appreciate you counting words and actions that because we we're certainly focused On that as well. We're really excited about this executive order and it's based on a kind of very simple but important intuition which is that having fair and open. Competition is a fundable fundamental ingredient of a healthy capitalist economy. It's what actually drives better outcomes. Lower prices higher wages more innovation more economic growth and so the core goal of this executive order is to reset across the entire executive branch of focus on wearing in. What ways can we encourage healthy competition in service of achieving those outcomes lower prices higher wages more innovation. And what we've seen across time is that Our economy has gotten less competitive We have a larger number of our industries that are now more concentrated than they were. Twenty or thirty years ago we've seen the rate of new business formation particularly small business fall formation fall by almost fifty percent Since the nineteen seventies. and if you look across industries whether it's you know in in meat-packing or in broadband internet Consumers choices have been constrained. And we haven't seen that kind of the follow through benefit that at least has been argued by folks who say you know. More consolidation will actually generate lower prices for consumers. We haven't seen that either. In fact if you aggregate up the impact of consolidation to an american household in terms of prices and wages And other attendant costs you know. The best estimates are that it's costing about five thousand dollars a year for the typical household so the goal of this executive orders to say. How can we start to get at that. And fundamentally this is this is this is not about being pro business or any businesses about being pro competition. A lot of the ideas in this executive order are actually deregulatory in nature trying to remove some barriers to entry that actually keep workers For more effectively moving and competing for jobs or new businesses to enter into new markets and grow and gain market share a assault. So that's the that's that's the high level that's our goal but you're right We wanted to take a really serious effort to go agency by agency and look where where the challenges. What are the tools that we have. And how can we advance the ball. It looks different in different agencies. There's a lot To unpack here. But that's the goal to tell you. That's shocking number. The lack of competition caused by industry. Consolidation and concentration cost the average american family. Five thousand dollars a year that that's a giant number when you when you just down you know. That's that's a if you you know. But i also would say embedded in that is a big opportunity because if we can actually break down some of those barriers and we can encourage competition. What that means is that we have a way of Actually boosting economic outcomes for the typical family in a significant way. But that sounds pretty esoteric. But you break it down into very practical things Something like hearing today. You need to get a prescription. Do you need to go to a.

national economic council berry renolds bloomberg radio president biden national security council Brian deese white house council of economic advisers t council of economic advisers national council brian treasury obama
"council economic advisors" Discussed on Heartland Newsfeed Radio Network

Heartland Newsfeed Radio Network

07:45 min | 1 year ago

"council economic advisors" Discussed on Heartland Newsfeed Radio Network

"It's never too early to start talking about the next election cycle. How freer the hands of biden's economic team as they come in because i know what democrats are bracing for his republicans learning again that they think deficits are bad and trying to block. Whatever whatever spending or initiatives might come from from democrats. We saw some pretty creative policy-making from the treasury department in the trump administration when we didn't get a new coronavirus relief deal back in the fall they sort of looked under the couch cushions and found a bunch of money to give to states to do some sort of expansion of unemployment benefits. They use the centers for disease control to put forward a moratorium on evictions. It do you expect biden to learn from some of that and to what extent is is this economic team going to be able to act independently of congress. So i think they're gonna have to be thinking outside the box even if the two senate races in georgia swing the democrats way. It's still going to be very tight. Congress in the new year. And there's gonna be a lot of creative regulatory approaches executive order executive branch Approaches and. I think that's partly we're having some of the deep expertise that we were talking about with someone like janet yellen while eddie aimo. The council economic advisers is also deeply experienced in a lot of this stuff. I think that's where that will really be helpful. But i think there are two really big challenges on the horizon for the incoming biden administration. The first is between now and inauguration day. They're still quite a lot of damage that the trump administration can do just to gum up the works for the next administration. So secretary mnuchin has been trying to claw back some of the dollars at the cares. Act that authorized to treasury for recovery. Efforts move it to a different account. that wouldn't be able to be accessed by the fed in the new year. There's some controversy about this because congressional oversight Folks that they've had some hearings suggesting that this is actually not permitted. That cares act actually. Requires that money to be left available for several more months that the new administration could in theory access. So there's some active controversies right now. And then there's the deeper push of the pivot back. Toss charity that. You mentioned josh. Look i mean it's it's completely incredible right at this point for especially these this this last republican congress to rediscover fiscal discipline after blowing hundreds of billions on tax cuts in a few years ago but nevertheless there already pivoting to that political stance. And i think it'll be an early test of the biden team. That can they resist that that kind of false narrative and instead focus on the job of rescuing the economy the last big outstanding policy item for this lame duck session. Congress is trying finally to get another round of corona virus relief. I'll be back with lonnie chen of the hoover institution and steal rahman demos to talk about how those efforts are looking. You're listening to left right and center. You're hearing from our left right and center and we want to hear from you to tweet us at llc kcrw and download the free kcrw app to listen to left right and center on demand back again with left right and center. I'm josh barrow. On the right is launching chen philip. The hoover institution on left us appeal rahman president of dinos congress is at an impasse over another round of coronavirus relief. Which really is a place that has been for months. A bipartisan group of senators including mitt romney susan collins and joe mansion has proposed a package of just over nine hundred billion dollars of additional relief it would include an extension of enhanced unemployment benefits more aid to small businesses financial assistance for state and local governments and liability shield for businesses. That may be sued over covid. Nineteen democrats are largely on board for the deal their heartburn over the liability issue but mitch. Mcconnell has poured cold water on it. There's been strong. Republican resistance to another large tranche of money for state and local governments whose finances have not been as battered as they were expected to be in the spring. Do a strong rebound in the personal income tax base especially among higher income americans who pay the most taxes to state governments. The white house swooped in with its own proposal. Agreeing with some republicans and democrats on capitol hill that there should be another round of stimulus checks for most americans. That's an element. That's not included in the bipartisan package. However the white house idea was to pay for that additional round of checks by getting rid of the unemployment extension which is a non starter for democrats and for some republicans. Congress also needs to pass bills to keep the government open as tape. They're working on a one week extension of that. If the more time to negotiate over relief but the negotiations are really not looking great right now what is it going to take to get republicans to agree to another round of relief. Well i it's. It's an interesting dynamic because even within the republican party there are disagreements for example about how aggressive to be with direct stimulus. So you have some. Like josh hawley. Who actually talk about strange bedfellows. Moment came together with bernie sanders this week to introduce legislation that would essentially provide direct stimulus. Checks i think the amount of twelve hundred dollars to too many americans and so you've even got disagreement over that there is disagreement over how aggressively to press the case on liability in liability shield issue which republicans have previously seen as being very important And then you have this broader question really of How much of this. How much do we wanna get done. As part of this covert relief package versus trying to take some pieces of it and maybe handle them next year during the new congress. Certainly one issue you noted which has been very controversial on the right is is the bailout or the additional money for state and local governments that for many republicans has been a direct nonstarter in terms of what it's going to take for republicans to agree i had previously thought that the idea of simply slamming things down and as mcconnell has suggested sort of taking out the most controversial elements whether for the right and the left and only doing sort of a smaller package that that might have drawn more support That may be in fact where they end up out of political necessity but That would have been previously. Kinda where i thought they could find common ground and where republicans would say. Okay even if we don't love it we're gonna be okay with this but It really seems like a distinct possibility. Josh that we might actually get through this next week and still not have an agreement which is really remarkable. Fundamentally this is about giving out money and usually members of congress are very good at that but they don't seem to be up to be all that interested in coming to an agreement on something that i think actually has a real impact on people in a real impact on the economy where it stands. Now what are you. What do you make of the state of these negotiations. I know the way. Democrats feel as they initially asked three trillion dollars. They feel like they've given up and giving up and giving up ground. Obviously that's not precisely negotiations work. It's not that you get to throw out whatever number you want at the beginning and then you end up halfway in between your number and the other side's number but as i guess. What is the purpose of this. Bill for democrats i i've been. I've been very specific about calling it a relief. Bill rather than stimulus bill. Because i think that the household incomes are going to rise faster and twenty twenty probably in any year since nineteen eighty-four It's not that we need a broad based economic stimulus that we need to aim at specific parts of the of the economy and the society that have been hit hard unemployment benefits being at the top of that. You have a very unequal effect here. Some people who have kept their jobs through this and who have had their expenses go down there. Their household finances are fine. You've other people who've been really devastated because they work in an industry that has gone to a large fraction of it has gone out of business for months because of this. So you need that targeted relief. I guess the question is what's on that list besides unemployment benefits that so important and are these state and local government aid monies is that is that corky thing because that seems like the thing that you can give up that would be the most.

Congress biden janet yellen eddie aimo biden administration mnuchin hoover institution lonnie chen josh barrow chen philip joe mansion treasury department centers for disease control josh hawley white house susan collins treasury rahman
"council economic advisors" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

09:01 min | 2 years ago

"council economic advisors" Discussed on Bloomberg Radio New York

"I'm Christopher Cruz Thiss is Bloomberg Wall Street Week with David Westin from Bloomberg Radio to take us through the economy under President Trump? We convene on our virtual roundtable contributors, Larry Summers, who served under President Clinton as treasure secretary and then as the director. Of the National Economic Council under President Obama and Glenn Hubbard, who served as chairman of the council Economic Advisers under President George W. Bush. So let me start since we're talking out of AA candidate for President Trump on the Republican side, Glenn, we start with you. When you hear the plans that were being told for the second four years will they get us that full employment that President Trump really promised? Well, I think conventions are obviously great Theatre. The president was pointing back to the pre covert world and he could point to some good successes. He did have success with the economy. Unemployment was very low market valuations were very high GDP growth was solid. I think he could well point to the tax cut on Jobs Act on he could point to his regulatory agenda. Having said that there is uncertainty about trade policy and what missing was missing to me was a since war of the future. Hey, talks about make America great again. I'd like to see Make America flourish again. What would it take to get every American to participate and prosper? I think their ideas their on the Republican side, But I wish Maura them had been at the GOP convention. Eso lo really bring you in on the other side of this is that word is what you heard from. Former vice president Biden gonna get full employment either when he's talking about something $3.8 trillion in new taxes. Is that what this economy needs right now? This economy needs a serious program of public investment. And some part of that public investment programme will pay for itself. And some part of that public investment program is rational to finance with debt. Some part of that public investment program probably should be paid for with tax increases, especially when those tax increases would make the economy fairer. Dad would also make the economy more efficient. We don't serve any useful purpose. By failing to collect $500 billion a year, most of it from the highest income people because we don't do a competent job of enforcing the tax law. We could move towards fixing that raised trillion dollars over the next decade from high income people and close tax shelters at the same time. We've got a variety of loopholes and special breaks that divert resources into inefficient uses and cost the government a ton of revenue. A famous carried interest provisions is one example in that regard. Those are candidate for rational tax reform, but at the same time would finance government doing what it needs to do. Time for that. I think there are people who have the idea that caused by envy. We should have tax increases in order to tear down the ridge. I think that would be a mistake. There are people who had the idea that we should have tax increases for the sake of having tax increases or justice a device for reducing the deficit. I think that's a mistake. What should we pay for some portion over time of the Huge public investment We need Yes, I think way we should. And I think that's the spirit in which Vice President Biden has talked about a tax increases so clean. What about it here from Larry that it's a matter of public investment, which really is what we need right now on the Republican side for President, Trump said. Let's cut the capital gains tax will private investment Is that the most efficient way really get investment, or is Larry right? Well, I think public investment is very important. We need a strong infrastructure program, not just physical but also technological. We're seeing that play out before our very eyes. It's hard to disagree with Larry on issues like avoiding tax avoidance. Of course, we should do that. Having said that is Vice President Biden serious about a large tax increase on business and business owners? In a recession or an incipient recovery. We've got very large proposed increases in the corporation tax on individual tax rates and the most radical expansion of the payroll tax not to be used for Social Security. Do you be used for other purposes, So the Biden plan may have been developed at a time and a place but we're not at that time in that place. So while I don't disagree with Larry, it's not really the Biden plant. Okay. So fairly quickly, Larry. More or less yes or no? Do you think Vice President Biden is serious about that $3.8 trillion tax increase? I think Vice President Biden He is serious about a major increase in public investment and paying for an important part of it, though not necessarily all of it. And I think that's the right thing to do. I do not think that it's anybody's intention to impose a major new set of austerity on the current economy. Glenn and I may have a disagreement the business community before the Trump tax cuts thought it would be fantastic at the corporate tax rate cut to 25. Percent. In fact, it was cut to 21%. There were a scent of tax cuts proposed for non corporate businesses that nobody was even asking for. I think we should repeal and replace some of that and use the revenues to push the economy forward for everyone. And I think that is the right thing to do. And that's the spirit of the of the Biden Planas. I understand Larry. I think you get a victory lap this week because over five years ago you wrote the financial times, and I'll quote it. The Fed could inject much needed confidence in the economy today and minimize future risks by announcing and following a strategy of not raising rates until it sees the whites of inflation's eyes as best. I understand that's sort of what J Paul said. This week isn't just more lies exactly what he said. I think, he said two important things. He made clear that the 2% figure was a two sided target. After a decade of being below 2%. It would be okay with him if we're above 2% For a while and we weren't being religious about 2% is the ceiling. That's what I and many others have been advocating for a long time. And he also said that he was going to reject what has been a Fed staff preoccupation for a long time. The Phillips curve idea. That we should stop the party before it gets started by raising rates. When it looks like the economy is going to be really strong and unemployment, it's going to be low and wages. We're going to rise fast. The last last people to be higher or going to be hired, and employers are going to be reaching for less skilled workers and those with some blood on their backgrounds. That we're not gonna cut off the economy's growth when those kinds of things happen until we actually see inflation materialized by those air to welcome welcome and frankly overdue changes in Perspective from the fat and they're things that I've been calling for for half a dozen years in recognition of the fact that our economy is basic problem. Isn't an inflationary gap. It's a deflationary gap where saving succeeds investment and that pushes interest rates too far down. Causes money to flow into liquid assets that then get inflated and caused bubbles on DH risks. Too much sluggishness in the economy. So I think the bad has Moved a substantial distance in the right direction. I think they still got some way to go in terms of recognizing the limits of what they're able to Dio and Putting the right kind of pressure on other policies to pushed a man forward. Well, let's talk about those limits. Exactly. Glenn. Let's assume you agree with Larry. They essentially more or less from better late than never, But same time. Is this the cure for what ails us right now? Because this doesn't get rid of Corona virus. It doesn't get increased productivity. It doesn't get gross going. This story does it? I think it's a It's a good step. I, too, have called for average inflation targeting for some time, but it's not a free lunch, and it does give the Fed room to let the economy run hot. It's a good thing..

Larry Summers Biden vice president President Trump president Glenn Hubbard Fed President Clinton President George W. Bush National Economic Council great Theatre America David Westin Christopher Cruz Thiss Bloomberg Radio council Economic Advisers Obama
"council economic advisors" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:58 min | 2 years ago

"council economic advisors" Discussed on Bloomberg Radio New York

"Wall Street Week. What's the state of corporate governance deficit is really issue. US. Economy continues to send mixed signals The financial stories that sheep are world Fed action to calm concerns over dollar liquidity, encouraging China data 500 wealthiest people in the world through the eyes of the most influential voices. Larry Summers, the former Treasury secretary. Seo Kevin Johnson. SEC chairman. Jay Clayton Bloomberg Wall Street with David Western from Bloomberg Radio. Every which way and up, the markets continue to push against covert 19 anxieties and tech leads the way This is Bluebird Wall Street Week. I'm David Western. Nowhere to go. That's what the markets has seemed to reflect this week as concerns about a resurgent Corona virus were overcome by a general sense of optimism that and a good deal of liquidity burning a hole in the pockets of investors. For many, it seemed there truly wass no alternative. But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected? And prolonged contractions as they have in Japan over the past decade. That was Fed chair Alan Greenspan back in 1996 during the lead up to the tech bubble. Well, we may not have a tech bubble this time, but we certainly have a tech surge, which is helping drive the stock market overall up in the middle of a recession. Glenn Hubbard of the Columbia Business School, lead the Council of Economic Advisers under President George W. Bush. And he has his own perspective on whether what we're seeing today is a new version of irrational exuberance. Well, there may be David, but it's it's not clear The jobless claims numbers are good news, but there's still 32.9 million people on some sort of unemployment benefit. That's 20% of the creek over labor Force. That's not good. So why's the best stock market? Hi. I expect there's a few factors. One value stocks eclipses the whole future earnings, and so you're relatively optimistic about a recovery. Most of the future is still fine. Second, the beds interventions have pushed down the discount labor stocks in risk spreads. And third. Sometimes we forget the stock market's not the economy. It's dominated by some very large firms, some of which have market power, so the stock market may have irrational exuberance. But it's it's not obvious. Even if the stock market's high doesn't mean the economy spy. Is it possible? We'll have a second wave here on the unemployment. I don't I don't wish that toe happen. But we had United Airlines say they're after left 36,000 people just today we have boots say 4000 people. We've got well, Spargo saying they're gonna have to lay off 1000 people is it possible is getting the second half of the year companies are saying How can we have this be sustainable In the long term, we have to win O r staffs. It is never too reasons your economic supplying advance on the supply side. It may be that there's just not enough activity. In other words, the people have decided not to return the traditional activities that slows hiring and re hiring. It was on the demand side. We could have business failures as a result in credit market problems, so policy really is to provide insurance against this kind of out there is the virus itself may rear its ugly head again, which was a lot of focus on vaccines on Bear. And Glenn. One of the subject that you've raised time and again is the demand issue with there might even be demand destruction. Is there anything that we could do in a further round the stimulus or otherwise? What's the best plan to try to make sure we shore up the demand side was the supply side of the economy. It's great question used to things insurance and interconnectedness and buy insurance in providing insurance that we don't fall out of bed in the economy by interconnectedness, realizing how businesses are interconnected, so Insurance. I would continue support or unemployment insurance, but not with the $600 additional benefit, which I think may have discouraged people, some people going backto work. But there are ways to use triggers of state level unemployment and replacement rays provide some extra benefit. Just not quite $600. We also need to give on states don't make up lost revenue to help support community colleges that are going to be critical in rebuilding and retraining people. Will need to continue support for small, a midsize businesses so things like the Reserves Main Street lending facility. We need finally more support work, what I and others have called epidemic earned income tax. Take us through that, because where I think we're basically familiar with an earned income tax credit. How is a pandemic earned in town tax credit? Different What you want to support low wage work and give people reasons to go back to work. From my way of thinking. The earning of tax credit is already a strong mechanism for encouraging low wage work to make it more generous. Pandemic, We could increase its size significantly. Reposed in a recent beast, doubling it. But also making it available. The childless workers that is something that would really provide a boost so low wage work when we need it, and probably a bridge to future policy. Definitely an endemic Member. Unlike in the care, Zack, We're now on base for the economy's reopen. Our goal is to help connect people back to work and not out of your minds. You also mentioned the unemployment insurance support that we had this flat $600 payment. Some people are saying that that money actually encouraged Ironically, some people not to go back to work because they could make more money by being unemployed. You have come up with a proposal with Jason Furman, another former director of the Council Economic Advisors on a different administration, where you would sort of feather that down and tired state by state into unemployment. Yes. In two ways, David, one would be to make it as a replacement rate of wages. You're not going to get figures as high as $600 but you'd still get extra unemployment insurance. Second he had off the unemployment rate in states would be triggers. If an individual state had a very high employment unemployment rate. These additional funds would be there. They wouldn't phase out as the unemployment rate goes down, that there's a couple of things that enables you to have a program. It's from Buster. Whatever the shape of the recovery, we don't know, sitting here today with its of each day. Or some other shape recovery but also avoids having to bring the Congress back to take action. Every time we learned something about the crisis, it puts the unemployment insurance expansion warning trigger program linked to the economy. Enough cult that was Wall Street with contributor Glenn Hubbard. Coming up. We hear from two of the governor's hit worst bike over 19 Governor Phil Murphy of New Jersey Governor Ned Lamont of Connecticut. This is Wall Street Week. On Bloomberg..

David Western Glenn Hubbard Larry Summers US Jay Clayton Bloomberg Radio Corona Alan Greenspan Kevin Johnson China SEC Governor Ned Lamont chairman Bloomberg
"council economic advisors" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:48 min | 2 years ago

"council economic advisors" Discussed on Bloomberg Radio New York

"Bluebird. Wall Street Week. What's the state of corporate governance deficit is really issue Use. Economy continues to send mixed signals financial stories that sheep are world Fed action to calm concerns over dollar liquidity, encouraging China data 500 wealthiest people in the world through the eyes of the most influential voices. Larry Summers, the former Treasury secretary. Stubborn studio. Kevin Johnson, SEC chairman. Jay Clayton Bloomberg Wall Street with David Western from Bloomberg Radio. Every which way and up. Markets continue to push against Cove in 19 anxieties and tech leads the way this is Bluebird Wall Street Week. I'm David Western, Nowhere to go. That's what the markets have seemed to reflect this week as concerns about a resurgent Corona virus were overcome by a general sense of optimism that and a good deal of liquidity burning a hole in the pockets of investors. For many, it seemed there truly wass no alternative. But how do we know when irrational exuberance has unduly escalated asset values? Which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade. That was Fed chair Alan Greenspan back in 1996 during the lead up to the tech bubble. Well, we may not have a tech bubble this time, but we certainly have a tech surge, which is helping drive the stock market overall up in the middle of a recession. Glenn Hubbard of the Columbia Business School, lead the Council of Economic Advisers under President George W. Bush. And he has his own perspective on whether what we're seeing today is a new version of irrational exuberance. Well, there may be David, but it's it's not clear The jobless claims numbers are good news, but there's still 32.9 million people on some sort of unemployment benefit. That's 20% of the creek over labor Force. That's not good. So why's the stock market? Hi. I expect there's a few factors one. The value stocks, of course, is the whole future. And so you're relatively optimistic about a recovery. Most of the future is still fine Send in the feds. Interventions have pushed down the discount labor stopped in risk spreads. And third. Sometimes we forget the stock market's not the economy. It's dominated by some very large firms, some of which have market power, so the stock market may have irrational exuberance. But it's it's not obvious. Even if the stock market's high doesn't mean the economy's fine. Is it possible? We'll have a second wave here on the unemployment? I don't wish that toe happen. But we had United Airlines say they're after left 36,000 people just today we have boots say 4000 people. We've got well, Spargo saying they're gonna have to lay off 1000 people. Is it possible is getting the second half of the year cos you're saying How can we have this be sustainable In the long term, we have to win O r staffs. It is. They've been pretty reasons, familiar economics supply and demand. So on the supply side, it may be that there's just not enough activity. In other words, the people have decided not to return the traditional activities that slows hiring and re hiring. It was on the demand side. We could have business failures as a result in credit market problems, so policy really is to provide insurance against this kind of out there is the virus itself May rear its ugly head it young, which puts a lot of focus on vaccines on bearer and Glenn, One of the subject that you've raised time and again is the demand issue with there might even be demand destruction. Is there anything that we could do in a further round the stimulus or otherwise? What's the best plan to try to make sure we shore up the demand side was the supply side of the economy. It's great wish any used to things insurance and interconnectedness and buy insurance in providing insurance that we don't fall out of bed in the economy by interconnectedness, realizing how businesses are interconnected, so Insurance. I would continue support or unemployment insurance, but not with the $600 additional benefit, which I think may have discouraged people, some people going backto work. There are ways to use triggers of state level unemployment and replacement rates provide some extra benefit. Just not quite $600. We also need to give on states they don't make up lost revenue to help support community colleges that are going to be critical in rebuilding and retraining people. Will need to continue support for small, a midsize businesses so things like the Reserves Main Street lending facility. We need finally more support for work, what I and others have called a pandemic earned income tax. Take us through that, because where I think we're basically familiar with an earned income tax credit. How is a pandemic earned in town tax credit? Different What you want to support low wage work and give people reasons to go backto work from my way of thinking. The earning of tax credit is already a strong mechanism for encouraging low wage work to make it more generous. Pandemic, We could increase its size significantly. Reposed in a recent beast, doubling it. But also making it of the old childless workers. That is something that would really provide a boost so low wage work when we need it, and probably a bridge to future policy, definitely in endemic Member. Unlike in the care, Zack, We're now on base for the economy's reopen. Our goal is to help connect people back to work and not out of your minds. You also mentioned the unemployment insurance support that we had this flat $600 payment. Some people are saying that that might have actually encouraged. I run into some people not to go back to work because they could make more money by being unemployed. You have come up with a proposal with Jason Furman, another former director of the Council Economic Advisors on a different administration, where you would sort of feather that down entire state by state into unemployment. Yes. In two ways, David, one would be to make it as a replacement rate of wages. You're not going to get figures as high as $600 but you'd still get extra unemployment insurance. Second, he had off the unemployment rate in the states that will be triggers. If an individual state had a very high employment unemployment rate. These additional funds would be there. They wouldn't phase out as the unemployment rate goes down, that there's a couple of things that enables you to have a program. It's from Buster. Whatever the shape of the recovery, we don't know, sitting here today, whether it's of each day Or some other shape recovery but also avoids having to bring the Congress back to take action. Every time we learned something about the crisis, it puts the unemployment insurance expansion. More trigger program link to the economy Enough colt that was Wall Street with contributor Glenn Hubbard coming up. We hear from two of the governor's hit worst bike over 19..

David Western Glenn Hubbard Larry Summers Jay Clayton Alan Greenspan Bloomberg Radio China Kevin Johnson Corona chairman SEC Congress Cove President George W. Bush
"council economic advisors" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:33 min | 2 years ago

"council economic advisors" Discussed on Bloomberg Radio New York

"Power. Bloomberg television and radio. I'm David Westin, some more breaking Boing news Early report. The FAA is probing possible inappropriate pressure being put on. So that's investigators in the meantime, which now said that Boeing the Boeing 777 X May miss. It's 2021 debut target. Top buyer, Emirates says that's the Emirates Airline says that they may miss their delivery target at Boeing. So that's the bowling news so far today. Meantime, we also a jobless claims numbers out this morning, and they were a little better. That is fewer claims that was expected, but nevertheless, they remain pretty elevated. The economy still steams the struggle. We welcome now Glenn Hubbard, now with the Columbia Business School Course. He was the director of the council Economic Advisers under President George W. Bush. Glen. Thank you so much for being with us. We've got the jobless numbers. On the other hand, the equity markets really, Although door off a bit today, they've really been pressing up. Overall, the direction has been upward. Is there a disconnect between the equity markets and the underlying economic data? At this point, we back risking what Alan Greenspan at one point called irrational exuberance. Well, maybe David, but it's It's not clear. The jobless claims numbers are good news, but there's still 32.9 million people on some sort of unemployment benefit. That's 20% of the creek over labor Force. That's not good. So why's the stock market? Hi. I expect there's a few factors. One value stocks, of course, is the whole future earnings and serve your relatively optimistic about a recovery. Most of the future is still fine. Second, the feds, interventions have pushed down the discount raper stopped in risk spreads. And third. Sometimes we forget the stock market's not the economy. It's dominated by some very large firms, some of which have market power, so the stock market may have irrational exuberance. But it's it's not obvious. Even if the stock market's high doesn't mean the economy spy Is it possible? We'll have a second wave here on the unemployment. I don't I don't wish that toe happen. But we had United Airlines say they're after left 36,000 people just today we have boots say 4000 people. We've got Wells Fargo, saying they're gonna have to lay off 1000 people. Is it possible is getting the second half of the year cos you're saying, how can we have this be sustainable In the long term, we have to win O r staffs. It is dated for two reasons. Economic supplying to dance on the supply side. It may be that there's just not enough activity, in other words, that people have decided not to return the traditional activities that slows hiring and re hiring. The others on the demand side, we could have business failures as a result in credit market problems, so policy really is to provide insurance against this kind of outcome was the virus itself May rear its ugly head again, which puts a lot of focus on vaccines and on there. And Glenn, One of the subject that you've raised time and again is the demand issue. There might even be demand destruction. Is there anything that we could do in a further round the stimulus or otherwise? What's the best plan to try to make sure we shore up the demand side? It was the supply side of the economy. Let's break question these two things insurance and interconnected by insurance and providing insurance that we don't fall out of bed in the economy by interconnectedness, realizing how businesses are interconnected, so on insurance, I would continue support for unemployment insurance, but not with the $600 additional benefit, which I think may have discouraged people, some people going backto work. But there are ways to use triggers of state level unemployment and replacement race provide some extra benefit, but just not quite $600. We also need to give funds to states helped make up lost revenue to help support community colleges that are going to be critical in rebuilding and retraining people. Will need to continue support for small and midsized businesses. Things like the reserves Main Street lending facility, and we need finally more support for work. What I and others have called epidemic earned incomes. Expert Take us through that, because where I think we're basically familiar with an earned income tax credit. How is a pandemic earned in town tax credit? Different What you want to support low wage work and give people reasons to go back to work. From my way of thinking. The urn. Income tax credit is already a strong mechanism for encouraging what wage work to make it or generous. Through the pandemic, we could increase its size significantly proposed in a recent piece, doubling it. But also making it available. The childless workers that is something that would really provide a boost so low wage work when we need it, and probably a bridge to future policy, but definitely in the pandemic. Member unlike in the care sack were now on a face for the economy's reopen. Our goal is to help connect people back to work and not out of your minds. You also mentioned the unemployment insurance support that we had this flat $600 payment. Some people are saying that that might have actually encouraged. Ironically, some people not to go back to work because they could make more money by being unemployed. You have come up with a proposal with Jason Furman, another former director of the Council Economic Advisors on a different administration, where you would sort of feather that down and tired state by state into unemployment. Yes. In two ways, David, one would be to make it as a replacement rate of wages. You're not going to get figures as high as $600 but you'd still get extra unemployment insurance. Second he had off the unemployment rate in states would be triggers. If an individual state had a very high employment unemployment rate. These additional funds would be there, they would phase out as the unemployment rate goes down. That does a couple of things that enables you to have a program. It's robust. Whatever the shape of the recovery we don't know, sitting here today with its of each day. Or some other shape recovery but also avoids having to bring the Congress back that take action. Every time we learned something about the crisis, it puts the unemployment insurance expansion Morano trigger program went to the economy and not politics. Glenn, How do you go about putting together an economic policy in this world? There's so much uncertainty, particularly driven by the biology. If I could put it that way of the Corona virus itself, we have Vice President Biden now running for president. He's coming out with a plan that includes things like by America.

Glenn Hubbard David Westin Boeing Emirates Airline director FAA Alan Greenspan President George W. Bush council Economic Advisers Congress Glen Vice President Wells Fargo Jason Furman
"council economic advisors" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

07:07 min | 2 years ago

"council economic advisors" Discussed on Bloomberg Radio New York

"Stocks dropped her two week low and Treasuries are up as a resurgence in new virus infections began halting progress on reopening the US economy. The SNP extended his weekly lost more than 2% of the governor of Texas rolled back some re opening measures, including ordering the closing of taverns. In Florida reported a record number of new cases and outlawed the sales of alcohol in bars. We check the markets every 15 minutes. Throughout their training, day s and P 500 is down 1.9% down 57. The Dow's down 2.3% down 600 too. And the NASDAQ is down 1.8% down 178 10 years, up 16 30 seconds. He'll 300.63%. West Texas Intermediate, down 2.1% of 37 90 of barrel collects. Gold's up 1/2 a percent of 17 79 30 announced the dollar yen. 107 17. The euro dollar 12 £15 dollar 23 26 That Is your Bloomberg business Flash. I'm glad Jared now more Bloomberg balance of power with David Westin, right here on Bloomberg Radio. This's balance of power in Bloomberg television radio. I'm David Western, Well, the government's already pumped trillions of dollars in the U. S economy, But it's not clear that is working, at least not yet, at least to the degree we needed to. We welcome now Claudia Som. She's the director of economic macroeconomic policy at the Washington Centre for Economic Growth. Earlier, she served as an economist at the Federal Reserve and also on the Council Economic advisor of the White House under President Obama. So welcome, Claudia. It's great to have you back with us. First of all, give us a sense of what we need right now. In this economy, Do we need more fiscal stimulus out of Congress? Yes, Thank you, David for having me on again today. I really appreciate it. And the answer to your question is absolutely Congress and the administration have got to get more really found and immediately we are not over the woods. Land of many of the relief part of the relief package are going to expire very soon. And that that is gonna be a big problem. Because families and small businesses in state local governments are not ready to go it alone without more support. So Claudia pick up on that, specifically, as you said, families and small businesses. There's one issue about how much there is also an issue about where it goes to Andi. I wonder whether we are exacerbating a great and growing problem this country already and that his income wealth inequality which has been really building or the last generation are there ways we could use this stimulus to try to combat some of that? Maybe turn around a bit. So my answer to that is and both. Okay. We went into this recession into this crisis with an immense amount of income and wealth inequality. The way that we don't with the great recession and very slow recovery exacerbated those big problems. We have to learn the lesson this time so that that does not happen again. And yet we are in a crisis. Right now. This is a massive and this is a disaster for just millions and millions of families and small businesses, and so we have to hit the economy stabilized first. And that means everybody and then we go to rebuild. We have to figure out okay, who really got hurt? And help them. But right now, we need to be doing both things because we know the unemployed. The businesses that are really close to going out of business. They really, really need help. But like Everybody needs help, too. And there was the double whammy If I could put it that way of the pandemic, which disproportionately affected particularly black on Hispanic communities, as well as long as native Americans, by the way, so they got hit really hard with that in terms of the disease, and then they got hit with the unemployment because last hired first fired their unemployment rate, particularly blacks went up. So the question is, Can we do something more than just get money to them? Can we change the system in such a way that could actually perpetuate sort of return toward equality. Yes. And I just I want to amplify and actually points. We have three crises that we have seen in the last few months. So I agree. The public health The economic crisis and we saw in the last month very severe racial justice. Issue in the United States, and that added another level and frankly when you have dressed people to the brink in terms of their economic conditions, What they can do to support their families. You're put in the United States in a very difficult a very bad place, and we saw One of many consequences of this. No, but all is not lost. There are absolutely things he can do their thing that air based on research and evidence and past experience, right so we can do this. And There's several things one right now We absolutely have to shore up the safety men in the United States and we have just not playing politics with the unemployment insurance system is being pushed to a breaking point. You got to do that better. The payroll protection programs, the loans that went to small businesses that was amazingly well intended program. The administration of that program has been very problematic. And we know that now we know that what these businesses need is not loan. They're gonna have to pay back. They need money, and it's really important that we keep them businesses. And state. Local governments haven't gotten really any help so far, and they're they're getting crushed in terms of their budget, and we will pay for that. We paid for that in the great recession for a very long time. Now what you talked about how my north has groups are being even more hard headed. These numbers that we have there absolutely tragic. I mean the job losses among blacks are higher than white. They always are in this recession, the job losses among Hispanics Latino workers there. They really even hard to look at, and we don't in a lot of cases has good data on Native American. There's been a lot of Focus and news coverage of what's happening. In among native American communities, and again like they're getting hit with the public health crisis economic crisis and they were in absolutely Unexcusable place in terms of their financial security before this all got going So We know how to make this better and even get to a better place in February, But if we don't comment on the administration doesn't really do something that's like good something it will get worse. It's getting worse right now. Quoting It's always a treat to have you with us. Thank you so much for those contributions, and she is from the Washington Center for Equitable Growth coming up here trying to re launch a major new auto model in the middle of a.

United States Claudia Som Bloomberg Texas Congress Washington Centre for Economic Bloomberg Radio Florida David Westin Council Economic advisor Federal Reserve West Texas Intermediate White House David Western
"council economic advisors" Discussed on KQED Radio

KQED Radio

14:06 min | 2 years ago

"council economic advisors" Discussed on KQED Radio

"The flu but if it does come roaring back or is just around a vaccine may at least be far enough along to try to push forward with the testing NPR health correspondent rob Stein thanks so much you bet you're listening to a special report from NPR news covert nineteen what you need to know about coronavirus I'm Lucas in a viral stay with us this is a special report from NPR news covered nineteen what you need to know about coronavirus I'm Lucas Univar now we're going to look at the ways authorities around the world are responding to this pandemic the trump administration's handling of the crisis has been heavily criticized the president has given confusing advice contradicting his own experts and misleading the public about timelines for testing and vaccinations morning edition's Rachel Martin spoke to three of NPR's international correspondents about how other countries are handling the coronavirus Sylvia Julie is in Rome Anthony kun is in Seoul and and Lee Fang is in Beijing Emily I'm gonna start with you because you were covering the crisis in Wuhan from the beginning can you just give us a sense now about what was the trajectory of the Chinese response to this well for the first month after that initial cases of the current affairs sure there wasn't a response there is local cover up at the lake and during that time about five million people left the virus epicenter in like the spread it to the rest of China but then the country mobilized it did so very quickly imposed very stringent self isolation and quarantine measures and by self isolation I mean people sort of waiting densely populated areas they canceled all public events they shut down factories and offices and by quarantine measures and that the they still sealed off cities and villages completely Anthony how does what and we just say said compared to what's been happening in in South Korea while South Korea got hit right after China and because of south Korea's experience with previous epidemics they decided that rapid mass testing for the virus was going to be the key to their strategy and so they've been testing around fifteen thousand people a day S. three thousand six hundred people per million of population compared to five people per million in the US results also focus on transparency putting out daily statistics and press briefings Sylvia in Italy I mean now Italy is has replaced south Korea's the number two in the world after China when it comes to the the scope of of this pandemic what has been the Italian response drastic curbs on freedom of movement and there's been overwhelming compliance only food shops pharmacies in newsstands are open people can go out but if stopped by police they must show kind of affidavit that states the purpose either work grocery shopping health or emergency police are carrying out random checks they face either three months in jail or a fine of two hundred thirty dollars the purposes social distancing keep people apart Italy's following China's lead the Wuhan model so Emily the Wuhan model hasn't worked I mean transmission has decreased there has not yet been experts pretty much unanimously agreed that's because of social distancing it will destroy your economy as it temporarily has in China but it quickly slows the virus's spread another thing China did was it built these makeshift centers where they sent six people and sending instead of sending them home and researchers in both the US and China have now said this week that that was critical to slowing down the outbreak but this could be a measure that western democracies may be unwilling to take as for quarantine measures of sealing off religious and cities that's the jury's still out on the efficacy of of that because quarantines made it harder for medical medical resources to reach heart the hardest hit areas and that's will the wife you tell the rates in the epicenter in China are nearly four times higher than the rest of the country so Sylvia how have the measures worked in Italy what's the situation right now is there any slowing well nationwide it's too early to say it hasn't hit the peak yet the quarantine that was put in place a few weeks ago in the contagion epicenter in Lombardy eleven pounds fifty thousand people local authorities say it's working the contagion rate has dropped and that's why the quarantine was extended to all of Italy to try to prevent a spread to the south which has much weaker health systems than those of the north which were among the best in Europe but they are severely strained by this crisis now I'm Anthony South Korea chose not to take measures like we've seen in Italy or in China with these dramatic quarantines are lockdowns and yet it seems like the have still been able to to keep the crisis at bay right yeah well takes numbers have been declining for two weeks in a row and sexualities of been at less than one percent compared to about four percent for China and six percent for Italy and you know doing this without having to log huge regions down is also a kind of effectiveness kind of accuracy was or something specifically about South Korea that made it possible for them to avoid large scale large scale quarantines well it's you know testing capacity is not just about cats it's about investment in basic healthcare infrastructure lab technicians chemicals machines logistics and if any one of those areas has a bottleneck it's going to mess things up and people are gonna lose lives and it's just you know at the end of the day it's investments in the healthcare system hospital beds you know national health insurance and this shows up in survivability for all diseases including covert nineteen and lastly Emily and Sylvia I'd love for you to talk some about how the different political systems in China and Italy have affected the coronavirus responsibly you alluded to this earlier but really how much of China's success in mitigating the spread has to do with the fact that this is this is a country frankly with a long history of human rights abuses it is an authoritarian state we've seen transparency is critical for a fast response that wasn't present in China but because China is a very centralized government one might say authoritarian it was able to mobilize quarantine measures and self social distancing very very quickly the problem is quarantines may have cost more lives and you know but we'll never know the secondary costs of people who are not able to get timely medical care and suffered from it because they were sealed into their villages or cities right and still be obviously Italy is a democracy what is been just the people's response to these kinds of drastic measures the crisis has totally turned the world upside down Italians notorious for cutting into line not very of beaten to rules are become the most compliant people I've ever seen in my life and French correspondents based here sent a petition to French president Emmanuel MacColl telling him friends underestimates the gravity of the epidemic and failed to prepare French public opinion they say look at Italy it's our duty to tell you there's no time to lose and here's Sylvia patrolling Anthony kun and Emily Feng talking with rich mark fears about the impact of coronavirus have sparked a financial crisis in the markets Austin Goolsby who chaired president Barack Obama's council of economic advisers says that as the virus spreads American markets might be hit even harder than China's and here's our Shapiro asked him why if you look at the economy of the United States or of the rich countries in Europe they're much more dominated by these face to face services that are exactly the things they get pulled down whether their leisure and entertainment and sports or going to the gym or all sorts of services so if everyone stops doing that that's a bigger hit on the U. S. economy even that it was in China we went when they shut down and you've also said that virus economics are different from regular economics explain what you mean by that yeah by that I mean the closest thing in our in our collective memories to this moment was a financial crisis right into my house I natural crisis economics and business cycle economics is a little different than the virus in that the main thing that is paralyzing the economy is this year and withdrawal and so in a way the best thing you can do for the economy has nothing to do with the economy with virus economics and that is things like paid leave for people that are sick is actually not stimulus it's paying people not to come to work but anything that slows the rate of spread of the virus is the best kind of stimulus so if we have to get on top of this as a public health matter I think before you can effectively deal with this as an economic except if we do so the rate of the virus and this epidemic continues for weeks or months is there anyway to turn around the financial slide yes and no no in that look if there's going to be a substantial slowdown our goal is and should be allowing us the opportunity to bounce back as this thing passes over us and that means you can't let everybody go bankrupt or starve or have these persistent lasting problems from what we hope to be temporary shock and so do you see the crunch that we're experiencing now as an irrational panic or an appropriate response to the cancellation of big economic engines like pro sports like Broadway live it like school like the economic activity that goes on in major cities every day yeah a bit of both as we in fear withdrawn have social distancing to try to slow the virus there is going to be a substantial slowdown of economic activity right but I can never get out of my head from the two thousand eight crisis Paul Volcker's words over and over at that time that during a crisis the only asset you have is your credibility and as the U. S. government has not made credible statements that contributes to fear that makes it go down and we've we've got to do better we need the president to succeed here that was NPR's ari Shapiro talking with Austin Goolsby who chaired president Barack Obama's council economic advisers a look now at the impact of coronavirus on our education system research shows that closing schools proactively can slow down the spread of the disease over ten thousand American schools are now either closed or have announced that they will be closing but as NPR's Cory Turner reports making the decision to shutter school isn't easy Nicholas Kristoff says his Yale University lab has always been about studying one word we study how germs spread we study how ideas spread we study how behavior spread Christos wrote the best seller blue print the evolutionary origins of a good society and his lab is now studying how corona virus might spread he says closing schools is one of the most effective things a community can do to slow it down and it's better he says for school leaders not to wait until a student or staff member actually get sick it's sort of closing the barn door after the cow is gone if you wait for the case to occur stock is points to studies of the nineteen eighteen Spanish flu he says cities that were quick to close their schools then saved lives closing the schools before anyone in the schools is sick is a very difficult thing to do even though it's probably extremely beneficial and much wiser school leaders say it's very difficult because so many kids get so much from their schools are a large number of our students the safest place for them to be is actually in school so when you're Santa leases is the CEO of Baltimore city public schools she says if she has to cancel school many parents won't be able to take off work so children could be heading home to empty household not to worry all over the country yeah I think that's honestly the hardest contemplation for our district Chris raked all is superintendent of public instruction for Washington state which has been hit hard by corona virus just send you know a million Washington kids home knowing that for hundreds of thousands of them are they simply will not have any parents at home not only won't there be parents at home there might not be lunch either food in security is a real challenge in our community even without an emergency Alberto Carvallo heads Miami Dade County public schools and he says roughly three quarters of his students live at or below the poverty line these kids not only depend on schools for lunch they also get free breakfast free snacks and many he.

flu Lucas NPR rob Stein
"council economic advisors" Discussed on KQED Radio

KQED Radio

08:26 min | 2 years ago

"council economic advisors" Discussed on KQED Radio

"Austin Goolsby who chaired president Barack Obama's council economic advisers a look now at the impact of coronavirus on our education system research shows that closing schools proactively can slow down the spread of the disease over ten thousand American schools are now either closed or have announced that they will be closing but as NPR's Cory Turner reports making the decision to shutter school isn't easy Nicholas Kristoff says his Yale University lab has always been about studying one word we study how germs spread we study how ideas spread we study how behavior spread Christos wrote the best seller blue print the evolutionary origins of a good society and his lab is now studying how corona virus might spread he says closing schools is one of the most effective things a community can do to slow it down and it's better he says for school leaders not to wait until a student or staff member actually get sick it's sort of closing the barn door after the cow is gone if you wait for the case to Kurt Krist Akis points to studies of the nineteen eighteen Spanish flu he says cities that were quick to close their schools then saved lives closing the schools before anyone in the school district is a very difficult thing to do even though it's probably extremely beneficial and much wiser school leaders say it's very difficult because so many kids kept so much from their schools are a large number of our students the safest place for them to be is actually in school Sony Santa leases is the CEO of Baltimore city public schools she says if she has to cancel school many parents won't be able to take off work so children could be heading home to empty household not to worry all over the country yeah I think that's honestly the hardest contemplation for our district Chris raked all is superintendent of public instruction for Washington state which has been hit hard by corona virus to send you know a million Washington kids home knowing that for hundreds of thousands of them are they simply will not have any parents at home not only won't there be parents at home there might not be lunch either food in security is a real challenge in our community even without an emergency Alberto Carvallo heads Miami Dade County public schools and he says roughly three quarters of his students live at or below the poverty line these kids not only depend on schools for lunch they also get free breakfast free snacks and many he says get free dinner that's why Carballo and school leaders all over the country are hustling to build meal plans in case schools have to close Miami Dade is adapting its hurricane plan in Baltimore Sandra Liza says schools often send kids home on the weekend with a special backpack full of food and maybe they could do something similar she says in the event of a coronavirus closure that only typically get a family through a weekend so we we have other ideas which is trying to see whether they will work in the current context there's one more word that has school leaders scrambling right now equity see if schools have to close for a week or more school leaders want to be sure of that learning doesn't entirely stop but schools have a legal obligation to make sure that whatever they do works for every child and that can be expensive Chris raked all says some schools in Washington state are exploring online learning and they're asking themselves does every child have a computer and wifi and access to staff if they have a disability those are paramount questions for our schools and if they can't deliver that when they choose to jump to an online model it's unlikely they're providing a legal basis for an equitable education of all the district leaders I spoke with only one Carvallo in Miami Dade says he is confident he has the tech resources to keep kids learning even if schools can't enabled by a bond referendum that goes back to two thousand twelve we have acquired in excess of two hundred thousand personal devices that's right two hundred thousand laptops tablets and smartphones that kids can take with them if schools close but many school leaders told me they may instead have to treat corona virus like a long heavy snow meaning they'll either try to make up the lost days this summer or simply have to write them off Cory Turner NPR news the United States maintains a huge stockpile of emergency medical supplies in fact it's the biggest medical stockpile in the world and officials have already been dipping into it to help fight coronavirus NPR's Nell Greenfieldboyce reports on what the stockpile program can do in this crisis and what it can't before I was allowed to visit one of the strategic national stockpile sites a few years ago I had to promise never to reveal its location I walked past armed guards into a huge warehouse that had a giant American flag hanging from the ceiling the stock pile programs then director Greg Burrell gave me a tour if you envision say a super Walmart and stick to those side by side and take out all the drop ceiling that's about the same kind of space that we would occupy and one of the storage locations so how many warehouses like this do you all have a we have an undisclosed number of warehouses almost everything about these places a secret for security reasons but I once heard an official say in a public meeting that there were six the warehouses are placed in strategic spots around the country each is packed with medical supplies all in all about eight billion dollars worth tool is executive vice president of in Q. Tel and a former homeland security official she says when the stockpile program got started in nineteen ninety nine it was much smaller and highly specialized and intended to supply drugs we would need if they were a chemical radiological biological or nuclear attack so it has material for those threats like drugs to treat people exposed to radiation small pox and anthrax vaccines but over the years the stockpile's mission expanded to include flu pandemics and emergencies like hurricanes or earthquakes it now holds anti flu drugs along with basic medical needs like IV fluids and kids bandages antibiotics pain killers it's never going to be as big as you want because it's just too expensive to do that tools as the stockpile is supposed to fill the gap between when an emergency happens and when manufacturers can ramp up production it's a bridge it's not a replacement for the private sector that means there could still be shortages take masks for example officials say the stockpile has about thirty million simple surgical masks and twelve million of the more protective N. ninety five masks that's not going to be enough already Washington state has requested hundreds of thousands of masked from the stockpile and it's gotten shipments more requests are sure to come in the government says it wants to buy half a billion more masks over the next year and a half you know we wish we had everything that we needed on the shelf all the time but we have to be respectful of the appropriations Congress provides and live within those I caught up with Greg Burrell who retired from the stockpile program last year he said in an emergency like this one another thing from the stockpile that could be useful is its ventilators and we can send those out people can be intubated and those can help people breed until they can take back over for themself how many ventilators does the stockpile have he wouldn't tell me he just said a lot some public sources I've seen suggests that it's at least four thousand they're all charged up and ready to go fitted into kits that are easy to move like a rolling suitcase so we try to think about putting these together in such a way that you can roll it in and use it immediately but there might be a problem if things get bad enough to need all those ventilators hospitals may be struggling to have enough trained staff to use them even though the federal government can provide some supplies from the stockpile the.

Austin Goolsby Barack Obama president
"council economic advisors" Discussed on KQED Radio

KQED Radio

08:27 min | 2 years ago

"council economic advisors" Discussed on KQED Radio

"Austin Goolsby who chaired president Barack Obama's council economic advisers a look now at the impact of coronavirus on our education system research shows that closing schools proactively can slow down the spread of the disease over ten thousand American schools are now either closed or have announced that they will be closing but as NPR's Cory Turner reports making the decision to shutter school isn't easy Nicholas Kristoff says his Yale University lab has always been about studying one word we study how germs spread we study how ideas spread we study how behavior spread Christos wrote the best seller blue print the evolutionary origins of a good society and his lab is now studying how corona virus might spread he says closing schools is one of the most effective things a community can do to slow it down and it's better he says for school leaders not to wait until a student or staff member actually get sick it's sort of closing the barn door after the cow is gone if you wait for the case to occur Chris talking points to studies of the nineteen eighteen Spanish flu he says cities that were quick to close their schools then saved lives closing the schools before anyone in the school district is a very difficult thing to do even though it's probably extremely beneficial and much wiser school leaders say it's very difficult because so many kids get so much from their schools are a large number of our students the safest place for them to be is actually in school so when you're Santa leases is the CEO of Baltimore city public schools she says if she has to cancel school many parents won't be able to take off work so children could be heading home to empty household not to worry all over the country yeah I think that's honestly the hardest contemplation for our district Chris raked all is superintendent of public instruction for Washington state which has been hit hard by corona virus to send you know a million Washington kids home knowing that for hundreds of thousands of them are they simply will not have any parents at home not only won't there be parents at home there might not be lunch either food in security is a real challenge in our community even without an emergency Alberto Carvallo heads Miami Dade County public schools and he says roughly three quarters of his students live at or below the poverty line these kids not only depend on schools for lunch they also get free breakfast free snacks and many he says get free dinner that's why Carballo and school leaders all over the country are hustling to build meal plans in case schools have to close Miami Dade is adapting its hurricane plan in Baltimore Sandra Liza says schools often send kids home on the weekend with a special backpack full of food and maybe they could do something similar she says in the event of a coronavirus closure that only typically get a family through a weekend so we we have other ideas which is trying to see whether they will work in the current context there's one more word that has school leaders scrambling right now equity see if schools have to close for a week or more school leaders want to be sure that learning doesn't entirely stop but schools have a legal obligation to make sure that whatever they do works for every child and that can be expensive Chris raked all says some schools in Washington state are exploring online learning and they're asking themselves does every child have a computer and wifi and access to staff if they have a disability those are paramount questions for our schools and if they can't deliver that when they choose to jump to an online model it's unlikely they're providing a legal basis for an equitable education of all the district leaders I spoke with only one Carvallo in Miami Dade says he is confident he has the tech resources to keep kids learning even if schools can't enabled by a bond referendum that goes back to two thousand twelve we have acquired in excess of two hundred thousand personal devices that's right two hundred thousand laptops tablets and smart phones the kids can take with them if schools close but many school leaders told me they may instead have to treat corona virus like a long heavy snow meaning they'll either try to make up the lost days this summer we simply have to write them off Cory Turner NPR news the United States maintains a huge stockpile of emergency medical supplies in fact it's the biggest medical stockpile in the world and officials have already been dipping into it to help fight coronavirus NPR's Nell Greenfieldboyce reports on what the stockpile program can do in this crisis and what it can't before I was allowed to visit one of the strategic national stockpile sites a few years ago I had to promise never to reveal its location I walked past armed guards into a huge warehouse that had a giant American flag hanging from the ceiling the stock pile programs then director Greg Burrell gave me a tour if you envision say a super Walmart and stick to those side by side and take out all the drop ceiling that's about the same kind of space that we would occupy and one of the storage locations so how many warehouses like this do you all have you know we have an undisclosed number of warehouses almost everything about these places a secret for security reasons but I once heard an official say in a public meeting that there were six the warehouses are placed in strategic spots around the country each is packed with medical supplies all in all about eight billion dollars worth tool is executive vice president of in Q. Tel and a former homeland security official she says when the stockpile program got started in nineteen ninety nine it was much smaller and highly specialized and intended to supply drugs we would need if they were a chemical radiological biological or nuclear attack so it has material for those threats like drugs to treat people exposed to radiation smallpox and anthrax vaccines but over the years the stockpile's mission expanded to include flu pandemics and emergencies like hurricanes or earthquakes it now holds anti flu drugs along with basic medical needs like IV fluids and kids bandages antibiotics pain killers it's never going to be as big as you want because it's just too expensive to do that tools as the stockpile is supposed to fill the gap between when an emergency happens and when manufacturers can ramp up production it's a bridge it's not a replacement for the private sector that means there could still be shortages take masks for example officials say the stockpile has about thirty million simple surgical masks and twelve million of the more protective N. ninety five masks that's not going to be enough already Washington state has requested hundreds of thousands of masked from the stockpile and it's gotten shipments more requests are sure to come in the government says it wants to buy half a billion more masks over the next year and a half you know we wish we had everything that we needed on the shelf all the time but we have to be respectful of the appropriations Congress provides and live within those I caught up with regular al who retired from the stockpile program last year he said in an emergency like this one another thing from the stockpile that could be useful is its ventilators and we can send those out people can be intubated and those can help people breed until they can take back over for themself how many ventilators does the stockpile have he wouldn't tell me he just said a lot some public sources I've seen suggests that it's at least four thousand they're all charged up and ready to go fitted into kits that are easy to move like a rolling suitcase so we try to think about putting these together in such a way that you can roll it in and use it immediately but there might be a problem if things get bad enough to need all those ventilators hospitals may be struggling to have enough trained staff to use them even though the federal government can provide some supplies from the stockpile the.

Austin Goolsby Barack Obama president
"council economic advisors" Discussed on 600 WREC

600 WREC

02:34 min | 3 years ago

"council economic advisors" Discussed on 600 WREC

"Welcome back Rush Limbaugh half my brain tied behind my back just to make it fair while we meet and its C. surpass all audience expectations every day well it it it I've it mentioned moments ago that John Kerry who served in Vietnam has at least I'm told I I haven't actually seen I'm totally officially endorse plugs job right now Austin Goolsby remember that name Austin goals bay who was on the council of economic advisers for Barack Obama's come out and it endorsed mayor Pete I think what's happening is that many of the homosexual members of the Obama administration actually gonna wooden doors mayor Pete Reggie love has endorsed mayor paid doesn't aim Reggie love well here's what it says are democratic presidential hopeful Pete bought a judge affectionately known as mayor Pete scored endorsements from three a former Obama administration officials his campaign set today including firmly ex presidents personal ID and body man Reggie love what body man means is that Reggie love wherever a vinyl went Reggie love was there M. Voree where Obama went even more than the secret service former council economic advisors chairman Austin Goolsby and former director of communications from the White House office of health reform to Linda Douglass are also backing mayor Pete the endorsement from Reggie love was African American is no word for mayor Pete who has been putting more energy into war wearing black voters after struggling to connect with them so far in this campaign season that's true their peak having trouble with African American Democrats and getting the they support the endorsement of Obama's body man Reggie love that would appear to be.

John Kerry Vietnam Barack Obama mayor Pete M. Voree Austin Goolsby Linda Douglass Limbaugh Austin Pete I Pete Reggie Obama administration chairman director of communications White House
"council economic advisors" Discussed on KNST AM 790

KNST AM 790

02:51 min | 3 years ago

"council economic advisors" Discussed on KNST AM 790

"Welcome back Rush Limbaugh half my brain tied behind my back just to make it fair while we meet and the seed that surpass all audience expectations every day well it it it I'm it mentioned moments ago that John Kerry who served in Vietnam has at least I'm told I I haven't actually seen I'm totally officially endorse plugs job right now Austin Goolsby remember that name Austin goals bay who was on the council of economic advisers for Barack Obama's come out and it endorsed mayor Pete I think what's happening is that many of the homosexual members of the Obama administration are actually going to endorse mayor Pete Reggie love has endorsed mayor paid doesn't aim Reggie love hi well here's what it says are democratic presidential hopeful Pete bullet judge affectionately known as mayor Pete scored endorsements from three a former Obama administration officials his campaign set today including firmly ex presidents personal ed the N. body man Reggie love what body man means is that Reggie love wherever Obama went Reggie love was there M. Voree where Obama went even more than the secret service former council economic advisors chairman Austin Goolsby and former director of communications from the White House office of health reform to Linda Douglass are also backing mayor picked the endorsement from Reggie love who is African American is no word for mayor Pete who has been putting more energy into war wearing black voters after struggling to connect with them so far in this campaign season that's true near peak having trouble with African American Democrats and getting the of they support the endorsement of Obama's body man Reggie love that would appear to be big deal your listening to Rush Limbaugh the soundtrack of your conservative wife only key are you work he's a stone cold right is on an S. break.

Linda Douglass White House director of communications chairman Pete bullet Pete Reggie Pete I Austin Rush Limbaugh John Kerry Austin Goolsby M. Voree mayor Pete Obama administration Barack Obama Vietnam
"council economic advisors" Discussed on News Radio WGOW

News Radio WGOW

02:36 min | 3 years ago

"council economic advisors" Discussed on News Radio WGOW

"Welcome back Rush Limbaugh half my brain tied behind my back just to make it fair while we meet and that C. surpass all audience expectations every day well it it it I've it mentioned moments ago that John Kerry who served in Vietnam has at least I'm told I I haven't actually seen I'm totally officially endorse plugs job right now Austin Goolsby remember that name Austin goals may who was on the council of economic advisers from Barack Obama's come out and it endorsed mayor Pete I think what's happening is that many of the homosexual members of the Obama administration actually gonna wooden doors mayor Pete Reggie love has endorsed mayor doesn't name Reggie love well here's what it says are democratic presidential hopeful Pete what a judge affectionately known as mayor Pete scored endorsements from three a former Obama administration officials his campaign set today including firmly ex presidents personal ed the N. body man Reggie love what body man means is that Reggie love wherever Bonnell went Reggie love was there M. Voree where Obama went even more than the secret service former council economic advisors chairman Austin Goolsby and former director of communications from the White House office of health reform to Linda Douglass are also backing mayor bait the endorsement from Reggie love who is African American is no word for mayor Pete who has been putting more energy into war wearing black voters after struggling to connect with them so far in this campaign season that's true mayor having trouble with African American Democrats and getting the they support the endorsement of Obama's body man Reggie love that would appear to be big deal.

John Kerry Vietnam Barack Obama mayor Pete Bonnell M. Voree Austin Goolsby Linda Douglass Limbaugh Pete I Pete Reggie Obama administration chairman director of communications White House
"council economic advisors" Discussed on KTOK

KTOK

02:37 min | 3 years ago

"council economic advisors" Discussed on KTOK

"Welcome back Rush Limbaugh half my brain tied behind my back just to make it fair while we meet and the CD surpass all audience at Haitians everyday well it it it mentioned moments ago that John Kerry who served in Vietnam has at least I'm told I I haven't actually seen I'm totally officially endorsed plugs job right now Austin Goolsby remember that name Austin goals bay who was on the council of economic advisers for Barack Obama's come out and it endorsed mayor Pete I think what's happening is that many of the homosexual members of the Obama administration are actually going to endorse mayor Pete Reggie love has endorsed mayor paid doesn't aim Reggie love hi well here's what it says are democratic presidential hopeful Pete bought a judge affectionately known as mayor Pete scored endorsements from three a former Obama administration officials his campaign said today including firmly ex presidents personal ID and body man Reggie love for what body man means is that Reggie love wherever Bonnell went Reggie love was there M. Voree where Obama went even more than the secret service former council economic advisors chairman Austin Goolsby and former director of communications from the White House office of health reform Linda Douglass are also backing mayor bait the endorsement from Reggie love who is African American is known word made for mayor Pete who has been putting more energy into war wearing black voters after struggling to connect with them so far in this campaign season that's true mayor having trouble with African American Democrats and getting the of they support the endorsement of Obama's body man Reggie love that would appear to be big deal.

Linda Douglass White House director of communications chairman Pete Reggie Pete I Austin Limbaugh John Kerry Austin Goolsby M. Voree Bonnell mayor Pete Obama administration Barack Obama Vietnam