Transcripts For BLOOMBERG Bloomberg Markets European Close 2

Transcripts For BLOOMBERG Bloomberg Markets European Close 20170120

And bill clinton today. The expectation of any issue would be taking the oath of office today. In one of the biggest surprises and maybe the biggest political upset the country has ever seen, donald trump will become president and about an hour. John get the next ordinary thing. It is an extra ordinary thing. I think it is the biggest political upset of all time. This was one of the most surreal certainly the most surreal operation and our lifetimes. Its hard to imagine with the clintons are feeling given the level of expectations she had along with much of the people of the country that she would be taking the oath today. There was a lot of speculation about it they would attend. She has been, according to many of her friends, and a dark and depressed place. I think it shows extraordinary fortitude and a great commitment to the goal of trying to unify the country that both of them will be here today, putting on a brave face. Still a great deal of emotion and psychological pain. Mark one of the dramas we are following today. Hillary clinton is there not because she is the one who lost, she is there as the spouse of a former president and the former first lady. As good a seat as anyone will have been under an hour watching donald trump take the oath of office. This is a date or we dont expect much policy to be enacted, although the new president will sign some executive orders. He said he will have most of the business get underway on monday, the first full work day he will have as president. Today will be a day for ceremony with president elect Vice President elect pence and president elect trump taking the oath of office. And in the widely anticipated in relatively short speech from donald trump. Then the parade and then tonight a few inaugural balls. It will be a day of extraordinary moments for the country. There are a lot of protesters in washington and a lot of people very excited about seeing the change they voted for began with what will be a speech for the ages. There has never been a president of the United States without military service or elected office service. There you see the president elect donald trump and president obama as they get ready to be announced on the stage. John there are a lot of questions about this speech. The inaugural addresses are obviously a great ceremony and great tradition. It is the case that many president s have given them and they have not been especially memorable, not obviously the case. This is the speech they are remembered for. Because of the division of the country and because of the unusual this up unusualness of donald trump, this speech seems so much more important. Much more important politically, much more important to the state of the country and how they look at donald trump in your average inaugural address. Before we move on we get to see the soontobe president and expresident walking together. I want to ask you, as you have seen the end of this transition period play out and see these days in the runup to this very important day, what struck you in the last 72 hours as trump got ready to take the oath . Mark he is a man of contradictions. Theres Vice President biden and his wife dr. Jill biden. There is the incoming Vice President mike pence and his wife karen. He is a man of contradictions. Gracias at times and meanspirited at others. I think in the last 72 hours it is an atypical trump, talking about unity of doing some divisive things. I think todays speech will lean towards more of the unity and we will see whether americans who see him as a divisive figure decide if thats the president they are going to get. As recentlysomeone as yesterday, last night talking about there is the incoming president s Adult Children. John soon to be the first family. Mark tiffany and eric, barons youngest child. John this is a man who ran a Divisive Campaign but he said it was centered on bringing the country together. Every modern president has run on the notion of ringing the country together. We will see how that emphasis goes, whether he talks about some of the the the themes that in more divisive or bringing the country together. The family has been part of political journey of their fathers. They have been focused on helping him win and now cover govern. Evocative trumps Jared Kushner is new to politics, like his fatherinlaw, but plans to play a major role in governing. John it seems to meet one of the questions was donald trump on Election Night is a striking noted unity, a noteworthy tried and succeeded in some respects to have a softer kind of rhetoric, a more unifying rhetoric. And then over the course of the transition we saw the old donald trump in much of his public performance. Certainly his twitter feed, combative, often provocative. And divisive. I think everyone expects and rightly so that he will in this formal address try to go back to Election Night and the town he struck that night. Then the question becomes what happens by the end of today . By tomorrow . Those are questions for the presidency, but trump is so unpredictable he could easily give a unifying speech right now and within hours be doing things that will undo whatever good he does in the speech. Never have we had a president elect represent some of the unpredictability. Mark the trump children being announced. This uniquely american tableau every four years on the west front of the capital. Politicians from both parties joining together. There has been as much divisiveness in the runup to this ceremony as we have seen in modern american times with several dozen democratic members of the house of representatives choosing to boycott the event. The countrys leading democrats are front and center. The obamas, the clintons, the carters joining president bush, Vice President cheney, bush 41 the only living president not present. He is in the hospital in houston. Our thoughts and prayers are with him and his family. Leading of americas Political Class are here. The new first family, the trumps. There is Jared Kushner in the dark jacket. He will not just be the soninlaw to the president but a top advisor. This is a closeknit family. You can bet although they are supposedly separating the trump is this empire and the Trump Presidency that the Adult Children and donald trump be front and center throughout this administration, both symbolically and behind the scene. John in particular Jared Kushner and ivanka trump. Some are reporting over the last that theysurprisingly will possibly be the most influential people in this entire administration. Last night donald trump put an incredible weight on Jared Kushners shoulder, saying he felt he was the best suited President Trump could imagine to bring peace to the middle east. A rather extraordinary statement to make. Whatever you think of it on merit, one that casts a young man in his 30s with or foreignpolicy experience whatsoever in the extraordinary position of influence and responsibility that trump is already talking about. Andhew andy two the two other boys. Republicans and democrats suspect donald trump will be sued shortly after he takes the oath of office as having violated the clause of the United States constitution because those conflict are unresolved. This is a president elect who comes into this moment with a divided country, a minority of the popular vote. Other president s have faced that in faced great political challenges. Hes being investigated by several ranches egovernment for connections, Campaign Connections with russia and its role with the election. Business conflicts that will be the source of controversy. Potentially scandal. Been extraordinaire set of political challenges to overcome that he will come close to making good on the grand promises he has made to make America Great again. John lets go to capitol hill. Kevin is standing by and is watching over a large crowd that a suspect donald trump will estimate is the largest crowd ever to attend an inaugural, although it will probably be short of that. Lets talk about the legislative agenda. People talk about infrastructure, tax reform, beingation, regulation as amongst the big things to be worked on first. What is going on on the legislative side. Which issue will move first . Kevin we can see developments as early as tonight in terms of the Incoming Administration trying to really lay out their case for their priorities. Mark, i have been up here for the past two weeks. Already the Republican Leadership is meeting behind closed doors with some of the incoming powers that be. People like Steven Mnuchin and gary cohn are making frequent trips to capitol hill to meet with House Speaker paul ryan to begin laying out their agenda on issues like tax reform, perhaps infrastructure, economic stimulus plans, and even immigration. First and foremost i think well be hearing a lot over the next three days about repealing key part of the Affordable Care act. Its been a somewhat chaotic transition period. Much of the government remains a lot of open spaces. A lot of jobs to be filled. Many of these nominees for cabinet posts as yet unconfirmed. Some have had a rocky hearings, some less so. Where do things stand in your view about how successful donald trump will be in getting all the people he wants into the jobs of running the government . Kevin john, i put those questions to the Democratic Senators this week. People like senator Elizabeth Lauren and senator bob menendez from massachusetts and new jersey respectively. Quite frankly they were honest with me in saying the opposition to president elect trumps nominee and appointees has really been largely to characterize them, to begin laying the groundwork for opposition on key issues like immigration and obamacare. When you look at mnuchins nomination and rex tillerson, they have not been able to convince any of their republican colleagues to flip their vote. That means they will be unsuccessful in blocking any of these particular nominees. John thank you very much. Youa, if you are there, have been following this campaign closely and spent a lot of hours with donald trump and have a pretty good read on his personality and history. What do you think he is thinking as he prepares to take the oval both of office . Oath of office and what is his Main Objective today . Jenna i wish i knew exactly what donald trump was thinking at any given moment. Today is the day. This is the big, big day. He is becoming the president. Whether he ever thought he was going to get to this point or not, here he is. Morningching him this there seems to be a little bit of a heavy solemn this to him solemness to him. Starting today he will have a lot of heavy decisions facing him. I think probably the weight of his position is probably going to hit him as he takes this. As far as what he is going to say, a lot of people are hoping that he will deliver a message of unity. That he will finally reach out in a meaningful way to the people who didnt vote for him. Like you guys were saying earlier, he has made such comments in the past and his actions have not really matched those words. This is his opportunity to not only get a message of unity, but perhaps hit the restart button and Going Forward try to bring this very divided nation together. Mark there you see the tableau waiting for the announcement of the Vice President elect, president elect, and expecting them to take the oath in about half an hour. There you see the current first lady, Michelle Obama. That is Nancy Pelosis husband, paul pelosi. Cameras sohed to reporting and talking is not always easy, but what is the latest on the scale of connectivity of protesters in and around the inaugural events . Jenna there have been little outbursts here and there. We had one right across from the Washington Post building in the Franklin Square park. A group of protesters all dressed in black who clashed with Police Officers who were there. We will keep our eye on this throughout the day. The police seem to be taking a stance of not letting anything go. Really confronting protesters at the perimeter. We will see what happens. As far as i know it is small, isolated pockets of protesters around the perimeter. Mark Jenna Johnson from the Washington Post, thank you so much. There is Michelle Obama and jill biden, two people leaving and thent housing today daily lives that in their reality for the last eight years. I think its safe to say they are leaving the next feelings. Not expecting to be handed exotic donald trump. Widely expected for over a year that today would be a day when a friend of theirs, fellow Democrat Hillary Clinton would be president at the event today. You see the rick perry ec rick perry, the man in line to be the energy secretary. John and not only is this an unexpected outcome, but for all the people in the obama white house, all displayed in incredibly active role in this campaign. Barack Obama Campaign for Hillary Clinton a lot. Michelle obama had some of the most romantic and emotional roles. Gave some speeches in the Fall Campaign that were extraordinary on the part of a first lady. Mark you see two men who have run for president , Bernie Sanders and to his left john mccain. Another sign of the bipartisanship. First lady Michelle Obama. Director of the United States Senate Committee on rules and administration. [applause] mark there they come. Michelle obama. Very vocal opponent of donald trump in the election. Gave these emotional, powerful speeches. I think one of the things for alling here is these folks that will be asking themselves for a long time, did we do enough . Did we do the right things . Then we do the wrong things . Ec soulsearching this weekend you see soulsearching. They all feel as though they are trying to be to do the right thing for the country. Hisidentelect trump and people have expressed great appreciation for the fact the obamas in particular have been so helpful and gracious in trying to make this a smooth transition. Yet you know this group of democrats who are now exiting power are going to be having second thoughts for a long time about what unfolded and the role they played and what potential consequences might be for democratic priorities for the country in this highly unusual new president. John you see president bush 43 in his usual jocular mood. You look at the clintons faces. Textured, and rich visages of the two people that are experiencing as much emotion as anyone up there. We expect shortly the new first lady in the new wife of the Vice President , might and, karen pence and karen pence. You see the scope. That looks like a lot of people who defied expectation they somew they somewhat previous inaugurations look like. A smaller crowd than barack obama eight years ago. Here to talk about the trump agenda, please talk about that with kevin, mike, what is happening . Wider worldhink the will react to this . Mike now we get to the point where donald trump will see the problems from translating his rhetoric into reality. They start on capitol hill because there is no unity. Normally the political dynamic is republicans against democrats, but that you have republicans against republicans. Trump will have trouble getting much of his agenda through. The first thing they want to focus on is obamacare. They can do to repeal fairly quickly, but they have no agreement on what they would replace it with. The president elect says he wants repeal and replace at the same time. He also suggested he will have his own plan coming out when tom price is confirmed as hhs secretary. Second the midfebruary. We are waiting for that. Four committees have to deal with obamacare replacement. That will tie up a lot of members of the senate in particular. It will be hard for them to move forward on tax reform and on infrastructures ending. Spending. I havebers of congress spoken to say this will be a much more drawn out process then to donald trump expected. Table take them well into the summer to get anything passed. Nothing will affect the economy and therefore the markets until late 2017 or early 2018. If youre looking for something to affect the markets, it might be a straight trump comment like his talk of the dollar or talk of the Foreign Policy situation. Mark we are watching Melania Trump, the new soontobe first lady making her entrance at the inaugural ceremony looking extremely elegant in that blue coat she is in. We see the u. S. Capitol as people prepare for her to make her first appearance on the dais. Understand there was a great sense that trumps ambitious agenda will run into the typical and atypical roadblocks and obstacles. He will want to put some wins on the board. Mrs. Karen pence. Mark you come Melania Trump and karen pence. Mrs. Janna ryan, the honorable elaine chow, and eugene mccarthy. Mark given those realities, the Trump Administration will want to put some wins on the board in the first 100 days. It will not do for

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