Surveillance Special: White House Response to COVID-19

cases back down? Yeah? Thank you. That's a really terrific question because the current uptick in places that now extends really from Washington State through Oregon into California, across Arizona, New Mexico, and then of course Mississippi, Alabama, Florida, Texas UM is really a very critical outbreak that needs to

be contained. And I think collectively, I was just out in the field going to UM Texas, Erazon and New Mexico and Florida and really getting it on the ground, report and experience to understand how we can be even more supportive. I think we're supporting their testing and we're

supporting increased human capacity at their hospitals. But I want to really applaud the governors have taken decisive action to really mandate masks, increase social distancing, clothes bars, ensure that um if you can't social distance, and an indoor restaurant, really decreasing that capacity of indoor restaurants, moving dining outside, and really talking to the people in their metro areas and their counties and what each individual needs to do.

We all need to do all of these things. We also have to make sure that we're not bringing that virus into our households by having parties then inside the houses. So I think there's a lot we can do as individual Americans, but there's a lot we can do at the state and local and federal level to support that response and change the course of this really this pandemic across the South, but also now up the West coast. And Dr Burke's I mean, some of the numbers, it's

astounding to see how young people. Young people are really seeing a lot of the upticking cases and they're making some poor decisions. They're going to bars, they're going to you know, we all see the images on the news. How do we prevent young people from getting these infections? I think there's two pieces of that want us to be very honest with them and to tell them that there's a spectrum of disease and young people that truly they will know people who are test positive that have

no symptoms. They will know people with mild like only a sore throat and a running nose. They will know people who got a bad fever and we're sick for two weeks. And they need to know that there's also young Americans who are in the hospitals right now suffering from very severe disease. And so there is a spectrum. I think when they saw that a lot of their friends had mild disease and then they saw in social media that people were having a great time together, you know,

they wanted to have a great time together too. And it's now on all of us to really change those messages, to really resonate with our millennials and gencs so that understand the risk those decisions make not only to them potentially getting infected, but their parents getting infected and critically their their grandparents who maybe in their eighties getting infected, all which we know have a very severe course. And so I think translating that message into something that people

not only here, but act on is really critical. Sometimes in public help we just keep saying the same thing over and over again and think that you know, eventually

it will resonate. No people turn off, So we really have to make messages much more tailored to very specific age groups so that they only can hear the message, but internalize it and then change their behavior to really protect themselves there their friends who may have pre existing condition, and protecting others by really being in masks all the time. We can get through this until we have a vaccine

if we all do our part. Dr Burks, You've been so generous with your time, and I want to talk about another portion of this that quite frankly, I don't think economists are talking enough about, and that is from an economic perspective. A lot of parents have children who are potentially going back to school in the fall, or they're unsure if kids are going to be going back to school, Dr Burke's in the fall. So number one, how should schools be preparing for the potential reopening of schools?

And secondly, just as important, what is the government doing in order to make sure that the classrooms are safe and clean and healthy for these kids? Well? I think you've raised a critical point. There is health, and there's COVID and there's actually health of our children, and then there's the economic um parts. So there's really three parts.

And I think if we put the child at the center and say what is best for American child, what experiences do they need, and when we come to the conclusion that they need to be in school, then we need to really figure out how to make that a safe environment. I know many jurisdictions have worked on this.

I think we also have to make sure that we have a way for teachers and administrators to be safe, and we need to have a way that households can be safe, um if they're multigenerational households, because we know children will come intacted just like we have eighteen year olds and twenty two year olds in fact, and may

not show symptoms. And so these are we have to bring in testing into the schools as well as you describe creating a healthy environment and really working together at the state and local level and the federal level to learn from each other of how we were putting the child at the center and meeting their needs were able to create that safe environment for both the families, the teachers and the children. It really is just so many

different questions. And that's and that's where it comes from from the elementary you know K through twelve perspective, and you know, I come from a family of teachers. But then there's the higher ed perspective Dr. Brooks colleges and universities, and you've got kids going out of state and state, I mean, what what should higher education UH institutions be doing? Well?

In a way, I think it's a little bit easier for higher educational institutions and the older children in K through twelve because on the on the White House website about four weeks ago, we really put up a document of how you can do routine surveillance testing by pooling sample. So let's say you have a dormitory of three hundred people, they could be tested weekly with thirty tests um and that is easy to do. And within each of these universities they have a depth of testing capacity that has

not been utilized. And so we've been talking to university presidents and and deans about how to turn on their research testing capacity to routinely screen in their student body. And I think that is very possible. And then how we take that into K through twelve that needed when you see virus circulating in the community, how you get in there and do what we call surveillance testing in schools,

and that it can be done classroom by classroom. There's a lot of advice about how to keep students in um specific cohorted classrooms, and so if there's only infection in that particular cohort, they may have to quarantine for two weeks, but the rest of the school can continue to go. We know how to do this. We have a science and we have the technology. We need the will to bring this type of innovative testing to our

K through twelves and to our universities and colleges. I've got one more question for you, because you've been so generous with your time, and I'm incredibly appreciative. Doctor Deborah Burks is on the line, and of course she is UH. She is UH one of the top diplomats and America physicians who is really driving behind the scenes as well

as sometimes publicly, the the White House coronavirus response. UH. And you have deep experience with this because of your experience and how the United States handled HIV and AIDS and whatnot when we do get a vaccine, you know when not if when? How is the administration preparing so that everyone can get one and that there's no socio economic disparre questions that come into account, but that everyone that it's equal distribution. How are we preparing for the vaccine?

I think the evidence of what this administration has done for making testing free, for making care when it wasn't affordable and people didn't have insurance UM free UM, so that everybody can get what they need to protect themselves about the virus, I'm sure similar will happen with vaccination. Just a couple of comments on vaccination. So there are vaccines that do what we call sterilizing immunity. It prevents you from getting infected. That's a more rare vaccine. Most

vaccines prevent you from getting disease. And what do I mean by that? You could get a low grade infection, asymptomatic, last thirty six or forty eight hours, you clear the virus, you're fine, And so many of these vaccines may work in that way. And so then we have to really make sure that with the first available vaccines that we're immunizing the cohort and the cohorts most susceptible to severe disease,

and we know who those are. We know particularly long term care facilities, nursing home, people in close settings like prisons. Of course, it would all be voluntary, but we want to make sure a vaccine go to the most needed. CDC is working on a generalized distribution plan that gets because they're used to doing it for fluid, to get

it to all across America. But I think Americans would understand that we need to prioritize the groups that could have the most severe illness first and then work our way through the rest of the United States to make sure that everyone has access. All Right, Dr Burke's I will leave it there. We're joined by Secretary Asar and I want to ask you about this executive order that Chief of Staff Market Meadows talked about yesterday in terms

of prescription jug pricing. Can you give us any details. Well, I make it a business to not preempt the President or the so uh, I'm gonna I'm gonna leave any actual announcements to them, but suffice it to say the President has been deeply committed to getting prescription drug prices down.

We've approved historic levels of generic drugs, drugs. Um we've seen prescription drug inflation flatten from where it had been before he before he took office, and before he laid out the blueprint, where it was I think about five percent on average inflation to now we're basically flat zero

percent inflation. But he remains committed to leveling the playing field internationally and stopped for in free riding where they don't where other countries don't pay enough for their drugs, and we've ay too much up to ensure that we decrease what people, especially our senior citizens, pay out of pocket for their drugs. And he's deeply committed to the concept that people should have the freedom to get their drugs, import them from abroad if they can get them in

a safe, effective way that reduces their cost. Well, that's what I want to follow up on, because we he There's also been some reports about potentially more executive orders as it relates to UH manufacturing, and I've been having conversations with administration officials on the economy as well as protecting the domestic and international supply chain, and that includes, as you're alluding to, Mr Secretary, that includes UH prescription drugs.

So how how does that what needs to be done in between the public and the private sector in order to protect people's medicines, especially if they are parts of it is made internationally like in China. Yeah. So I think that the coronavirus pandemic has brought home that core elements of our metal supply chain are just as strategic to our national security as say nuclear submarines or aircraft carriers are, and have to be treated with that same kind of approach, which is to make sure we have

core domestic manufacturing capabilities. Now that means paying for that. That does mean that right now we've seen the supply chain go to low cost areas in the world UM as well as areas that have protectionist trade policies that

lead to lower prices of goods. UM. So it might mean that we have to use our powers under the Defense Production Act or otherwise to fund and incentivize domestic manufacturing, to ensure purchasing gear of domestic manufactured product so that we essentially UM support and defend a local, domestically based strategic focus around pharmaceuticals as well as personal protective equipment. Can I can I ask you one more question? Do

you have a timetable on that executive order. I just I want to know if if we're gonna get it a couple of weeks, a couple of days in terms of big Pharma. Well, I don't have a timetable for you. Again, I'll leave that to the President to make a decision on when he when and whether he's going to do anything by executive order. All right, and just and and just more broadly, so many questions that I get from folks outside of the industry, outside of Washington, is they

want to know about vaccine development. They want to know that when there is a vaccine, when there is an effective treatment and vaccine, that that everyone's going to be able to get it when they want. Can you give us an inside account as to how the vaccination process and what the government's doing to make sure that people can get that vaccine once it is in the market. Yeah.

So the first thing we have to do is get vaccine and get vaccine manufactured and ensure that it's a safe and effective vaccine according to the FDA's gold standard regular story approval processes. So we just had a cortant announcement today where we are investing in a fourth fourth vaccine candidate. This is nova vacts protein based vaccine one point six billion dollars for advanced R and D as well as advanced manufacturing to secure one million doses of

the vaccine. So what are we doing with whether it's our relationship with Madera or the Astrosenica vaccine, or the Jansen J and J vaccine or now novavaxs um we are funding the R and B to make sure that we compress the timelines, any inefficiency in the development timelines, not sacrificing standards, but just ensuring that we're avoiding any

types of unnecessary delay on development. Uh So that taking the pharma timelines that normally you would get say phase one data, you come, you sit down, you study, if you spend time, then you design a phase two or

phase three trial. Um and instead compressing that have pre designed have that so you can go right away and then on manufacturing, make the investment to scale up commercial manufacturing to deliver hundreds and millions of doses even as you're doing the development trials to make to to to

prove that the vaccine would be safe and effective. UM. So what we're also doing is the distribution work is of course, as you mentioned critical, So we are working internally and we will engage external stakeholders in a process to advise on as we get more limited supplies of vaccine out, So in the fall, as we get say tens of millions of vaccine and scale up to the hundreds of millions of doses of vaccine in early next year, who are the first groups that ought to be vaccinated?

That will be an ethical process. It will be a public process where we gather input to help make those determinations. I want to be very respectful of your time, and you've been very generous with yours, and so I'm gonna and the interview there, but I really appreciate your time. Secretary is are and for taking my questions. I'm Kevin Cirelli, chief Washington correspondent for Bloomberg TV and Radio. We're joined by Secretary Brulette. Mr Secretary, thanks so much for being here.

I want to get your reaction to really what's been going on in the past day, which is you've got a court order that says the Dakota Access crude oil pipeline has got to shut down, and then you've got developers of the Atlantic Coast gas conduits, saying that they've got to cancel the project. Are these are these types of pipelines, these massive pipelines. Are these the thing in the past or what has to be done in order to allow them to be built? It was great, Hey,

great to be with you again, Kevin. I really appreciate the opportunity to talk about these issues today. No, they're not done. Uh, they're not dinosaurs and not things of the past. Very disappointing news coming out of you know, the East Coast with the Bark to the Atlantic Coast pipeline. However, so you know, look, I understand the decision. It's an economically rational decision. These people have spent three billion dollars

over six years. Uh, they want a Supreme Court case, and yet they're still unable to see their way through, uh, to develop this pipeline. It's very very concerning. We'll see what the next steps are there. But I understand the decision, and while disappointing, uh, you know, I think it's probably

at this point in economically rational decision. I am not quite certain, however, that I understand you know what the environmental activists are actually celebrating, uh, you know, except for perhaps the loss of American jobs and the UH the loss of access to cheap gas, cheap natural gas down in North Carolina and other places along the pipeline. UH, not much there to cheer about in my opinion. With regard to the Dakoda Access pipeline. We'll have to wait

and see. I did review the decision quickly yesterday. UM. I assume that the parties that are involved with that are going to avail themselves or whatever legal options present are presented to them. We'll have to wait and see

what those decisions are. But it's very, very important that we take advantage of these opportunities to create what the President calls regulatory certainty, and he has directed me very early in this administration and look at the regulations within the Department of Energy, eliminate those that are redundant, are simply unnecessary. And we've done exactly that. So we're going to continue that as we move along. You know, even beyond that, we're staring down Mr Secretary, the prospects of

another economic stimulus ahead of the August recess. What would you like to see included in that? And do you think that more government aid is going to be needed for the oil and gas industry at this point. You know, I think I think what's happening in the energy industry depends on what part of the industry you're talking about, obviously, but you know, with regard to things like oil and gas, we're seeing demand for refined product come back in a

very good way, very aggressive way. As that demand curve continues to increase, as people begin to get out and about, as the economies continue to open, We're gonna these guys do just fine. I am so proud of this particular industry because of the innovations that they've been able to develop over the course of the last two three pups four decades that allows them to ramp up and down

their production numbers very very efficiently. So, you know, I think as we continue to open up, we're going to have a great, great economic recovery, and energy is going to underpin almost all of it. And and to bring it back to what you said, I mean, we're talking macro right now, but to go down to the to

the localized level. For so many of these individuals, whether their court cases or whether they're they're you know, the back and forth, what's going on on Capitol Hill These are jobs for many people, and and and parts of the country that have been just completely economically devastated as a result of this pandemic. What what needs to be done to help those refinery workers to be helped, to help those uh, you know, drillers who want to get

back to work. Maybe they are reopening, but they're staring these down the headlines of all of this economic uncertainty. What needs to be done to specifically help them. We need to continue to open up the economy. That's what's

going to help them the most. And I think the President is very appropriately pursuing that, you know, with regard to the other government programs, the Care's Act, the Paper Check Protection Act, um, all of those programs, I think Secretary Manutition and others have done a great job of making those available to the energy industry. I know that many have taken, um, taken advantage of, or made those programs available to their employees as well as the you know,

their corporate entities. We need to continue to see that happen as we move along. But first and foremost, you know, the demand for energy is going to fix so many of these issues that we're dealing with right now. In the economy, and um, I think the President has done a great job of opening up the economy in a way that protects the health and welfare of the American people and creates the economic activity that we need to

see these industries survive and thrive post pandemic. I have two more questions for you, and I'll keep it quick. Why just on the Dakota Access pipeline, Why is that so critical at a time, especially when there's an energy surplus surplus and depressed markets and and along with this greater global reliance and renewable sources. Talk to me about the codas sure, well, these types of pipelines, do you think about what they're bringing in and you think about

what their purposes are? You know, in many cases they're bringing in, for instance, crude oil that's necessary for certain refineries here in the United States. You know, we talked about energy independence in the past, and we talked about the fact that our production numbers are now very, very high in the United States, is in fact independent of many of the negative consequences of being too dependent upon

adversarial nations. But what happens in trade is that certain types of oil are are very advantageous to certain refineries, and that's what we're seeing in the case of some of the pipelines in the Northeast. Canada produces very heavy crude that is needed at these refineries, so bringing it in and allowing that trade to happen is very important.

If you shut down the pipeline, you've shut off of an avenue for a very resource for many parts of the country, places like Ohio, places down in Houston, Texas, where you know, these refineries are set up for this heavy crew. Do you think we need to to to do something to the permitting system and is that a congressional fix or an executive order fix or any actions that you can take. Well, I think I think what the President has has directed us to do at the

federal level UH is working. So, for instance, I'll give you just a very practical, common sense example. You know, if we have to do an environmental review at the Department of Energy, for instance, UH as part of the permitting process for an ler G export facility, we take a very common sense step and we said, well, has

anyone else already done an environmental review? And if the answer to that question is yes, then we rely upon the work that's already been done, rather than initiating a complete new process to do what other agencies have already completed. Reliance upon their work is a very appropriate step for us to take, and that eliminates millions of dollars and permitting fees, goal fees, other types of cost of these

important projects. And final question for you on earlier this week, Denmark gave the nord Stream to permission to use pipeline vessels UH in order to complete the final stretch of of the pipeline. And this, you know they're saying, is only going to enhance their ability to get Russian natural

natural gas to Europe. This is becoming more controversial, as you know, Mr Secretary, by the day, and it really could alter the political dynamics for Europe and Russia, increasing Europe's reliance on Russian energy and therefore have us implications. I just want to ask you where the administration is on this standpoint, UH, in terms of Europe and Russia and their energy reliance on each other. I think we're

in the same place that we've always been. The President nailed it two years ago when he attended the NATO conference and said he has a very basic question a very direct question. He said, you know, wait a minute, I'm protecting you from the very people that you're buying your energy from. Explain that to me. And he was speaking very specifically to German and Europeans generally, so you know, this was in the context of their contributions to NATO,

which I understand to be still somewhat deficient. So we're going to continue our opposition to the pipeline. Uh. We appreciate what the Danes are doing. We think it's very important that they apply the European regulatory construct to this particular pipeline, and we're going to continue our pressure on them to insist that they do exactly that. All right, Secretary Amberlett, Department of Energy Secretary. I appreciate your time and for speaking with me, sir, thank you. We're joined

by Congressman brad Winstrop. He is a Republican serving Ohio and and and Congressman, I want to ask you about the next round of economic stimulus. You know, Leader McConnell the other day was saying that August he wants to get something done before the August recess. What would be in the next round of economic stimulus, Well, in general, I would say what we're focusing on is a real

opening package. In other words, instead of Phase four or five whatever that we were talking about, reopening phase one and it's still addresses the effect of of COVID and it's it's effects on our economy. And I think that that's going to be the big push, and we're going to continue to look for any of the glitches and the things that we've already done so that we can maintain and get back to a healthy economy, whether it's

our hospitals, our businesses, or individuals are small businesses. We have to take a look at all that we painted things with a pretty broadbrush when we first started, and we've seen we've had to make some changes. Extending programs like p p P I think is a great deal for what's going on in America today and the needs that people have. And we have to continue to look at things going in a positive direction and uh doing

and doing it safely. And that's the that's the conundrum. So, you know, from an economic perspective, especially as economist, Congressman are talking about there being a depped up recovery with the with the you know, positive economic indicators and the Q three beginning Q four. You know, you've just passed significant other significant economic deals including U S M c A, which recently went into effect. From an economic standpoint, it's not just the virus, but what else needs to be

done in order to get a faster recovery. Well, I think that you you'll see the administration working with us UH to to do pro grows things. Um. You know, I think that, um, there's so many things to look at, and I know that I'm being kind of vague because there there are a lot of opportunities out there, um. And to allow people to uh continue with the tax breaks to maintain more of their income, um. But we

also have to get kids back in school. These these are some of the things that we have to do for allow to allow our economy to take place, and of course we have to do it do it safely. So it's a combination of returning to normal in a in a safe place, in a way that people aren't anxious and and so it really comes down so much of this is involved with health, right, and so as you look, we have got to look at the virus itself and continue to go in positive directions medically, which

we have done with treatments. You're seeing far fewer people uh dying. You're seeing people that have recovered and they have convalescent plasma. They can help the next person. Those are things that we need to do to build confidence in in our society in general. Um and we would and when we do that, we can eliminate some of the other things that have been happening because people aren't at work or they were shut down. We see an increase in suicide, domestic violence, all these things that are

negatives for us. So we have to take a look at those and make sure that we can re institute normal life for a lot of people so that people can go to work because their kids are taken care of at school and afterwards and all of these things come into play. We have a shortage of daycare providers. That's the problem for our economy because you can't return

to work and just leave your kids at home. All of these things have to be addressed, and I'm going to look for incentives for those types of programs and to encourage more people to go into those fields because there's a definite need there. And if we don't, if we don't address every component of this people just can't all return back to work. But I am encouraged by the numbers that we have seen in the last couple

of months. And Congressmen, I want to pick up on that point because from an economic standpoint here we are staring down the next round of economic stimulus negotiations ahead of the August recess. And and and you you mentioned about the psychology of the American worker in terms of

going back to work. Part of that includes sending your kids back to school and having faith that the school not even but being reassured that sending your your kids back to school, back to daycare, back to you know, elementary school, high school, that they're going to be safe. And so you talked about providing incentives for these schools to be able to get access to to clean facilities and whatnot. How important is that to to reopening the economy.

It's really important. And you talk to anybody that has employees, especially in small businesses, and that is one of their major concerns and it's going to be a limiting factor. So we've seen good numbers. We want to see the numbers going up, but those are the things that come into play. And so I represent both urban and rural areas,

and it's a very different environment in each. I have some counties where their hospital maybe has had zero admissions for COVID or one and and only one death and that was with co morbidities, and so they're not understanding the same way an urban setting is, where you have higher numbers than you have deaths. Cincinnati is not the same as New York, and my rural errors aren't the

same as Cincinnati. So how we go about doing that really is going to involve good medical decisions at the local level to build the confidence of parents and of kids going to school. The desire is there. I have

seen that tremendously. The desire is there to return to that normal, and we just have to do all that we can to allow, especially at a local level, people to provide the safety that is necessary and the competence of that safety if they're going to go back to to work and and be able to send their kids to school. But at the same time, what's really important on people's minds is they don't want their kids missing out on their education, and so it's a combination there.

So it's a very holistic approach that we need to take because it's not just about the virus. Are we going to have a generation of kids that were uneducated because we're not letting them go to school. That's the problem. And I can tell you, you know, I'm lucky my my son in kindergarten. We we get his his teachers online every day, and we have his class work online every day, and we can print the programs and do the work with him. Not everyone has that capability across America,

and we have to recognize that. And that's why the importance of continuing to educate our children is really important, especially for our workforce, not only for today for parents that are working, but for the future and our workforce. Congressman Bradwin strips on the line. He's a Republican and he serves for Ohio second Congressional District. He's also an Iraq War veteran and serves as a member of the

House Select Intelligence Committee. Uh. And that's really where I want to go next in terms of more geopolitical If if I could for a minute, how has how has the United States collectively been protecting itself against some of what's what's coming out of China, or how has this been changing the dynamic from Beijing with their lack of transparency, Congressmen, in terms of resetting U some of the some of the geopolitical relationship there, we have a lot of restructuring

to do, and I think that this president was on his way and doing that, and I think we're going to continue to do it, and I think it's going to happen with the support of Congress because it needs to. I'm I'm a military guy. I just spent a year in Iraq, also a position very concerned about the World Health Organization. If you're not getting honest data and honest answers out of the membership, then it's not worth having it at all. And we shouggest trying to together our

own data as best that we can. And and so that's a recognized problem, and I think the President was right to respond to that in some ways and let it be known that we're not going to tolerate this, this type of bad behavior when it comes to the health of humankind. This has affected the entire world. That's

one thing. We've all also learned a valuable, valuable lesson that I think has really been brought to the forefront and maybe been ignored for for decades now, and that's our supply chain, and so we are going to have to change our economy in a way that manufacturing comes back to the United States, which this president has been doing since the day he took office, and that is key. I got asked early on when it was recognized we had a supply chain problem. So what do you do?

I said, what this president has been doing bringing manufacturing back to the United States of America. We're gonna have to find ways of doing that. As a military person, if you had told me that my protective equipment and my pharmaceuticals that we got in China, where that we that we got in Iraq, we're coming from China, I

would have said, there is no way. And but that's the situation we're in, and I can tell you right now we're working diligently to identify where vulnerabilities are and working to correct that and working hand in hand with the administration on that. Congress and Braden Ship, I want to be a respectful your time, so I'm going to leave it there, but I very much appreciate uh you taking these questions and for talking about this with us. As Congressman Bradwin trip. He is a Republican from Ohio

second Congressional District. Thank you, sir. We're joined by Javita Carranza of the Small Business Administration, and she, of course has been one of the driving forces behind making sure that businesses get access to loans, especially small businesses get access to loans. Now, we've just received some of the data about who has gotten access to the p p

P loans that have been out there. Now there have been some criticism as you know, that it was the politically well connected, uh that that we're able to get access to this. What is the administration doing to make sure that any small business that needs and qualifies for those loans is able to get it. Well, Kevin i'ld like to start out by saying that the p p

P has proven to be very successful. It has actually achieved it's two objectives, which was a job retention, wage growth all in one and then also sustaining of small businesses. And the PPP has saved nearly five million small business enterprises. So those are the data, you know, the data points that I always look at the fact that we processed about five and twenty billion dollars and saved and this is the other data point I always stay focused on.

We we estimate based on the entry on all of the loan applications that we've saved and estimated fifty one million jobs. And I also looked at the fact that of the funding. If you look at the data very closely, you notice that most of the loans were made um about a hundred and fifty thousand dollars in less. Actually, I look at loans that are five thousands or twenty thousand dollars, and we have provided funding for I would say of the loan volume and value of the loans

really went to low income counties. And that's why as I traveled throughout the United States, I've visited those particular communities and and the businesses have been hit the hardest Kevin, like the restaurants for the manufacturing and and Javida. I want to ask you specifically about some of the criticism about the data that has been made public. Democrats have raised concerns that, uh, the smaller sized loans have not

yet been disclosed. Loans that are that are fewer than a hundred and fifty thousand dollars for those approve learned loans. Why why is that information considered proprietary or confidential. Kevin, that's an excellent question, because as an administrator of a small business administration, I take UM my fraudciary responsibility very seriously about protecting proprietary and confidence in competitive information and the smallest, the small smallest businesses like the sole proprietors

or for that matter, the independent contractors. I always use as as an example, Kevin, here you have a woman, single parent, single parent, who's an uber or lift driver, and her home address is her business address, and she's applying for something like less than five thousand dollars. That is very confidential information. And that's the information that we were trying to protect when we were very specific about

what we would release and what we wouldn't release. UM. You know, the g a O Office and Congressional Oversight members, they've received information UM that's unique to their particular UM requirements, but as it relates to the public information, that's why we protected certain certain loan values and and beyond that. Just on Saturday, the President extending the deadline for p P P loans I believe until August eight, and there I think it's a hundred and thirty plus billion dollars

worth of remaining funds for for small businesses loans. Do you think if if that money isn't isn't used up by August eight, where do you think that will go? And what is the best way to appropriate the leftover funds specifically to targets to really micro target some of these small businesses micro businesses even around the country that are the backbone of of of America's economy. Well, Kevin,

let me answer your question to fold. The President took historic action and very focused on small business, small businesses and their employees, and he made available hundreds of billions of dollars. We've already processed a half a trillion dollars worth of funds for small businesses. You have the data, and so that represents again, I can't emphasize more fifty

one million jobs. And if the one hundred and twenty five for one five billion dollars that remains and that's available through August eight, were really focused on continuing to provide funds for sole proprietors and independent contractors because Kevin, many of them were apprehensive and some of them returned

their loans. And so we are encouraging for these particular businesses to work with their local lenders, and we have over fifty undred lending partners, and Kevin, you'd be pleased to know that there are more sedifies and credit unions applying to be authorized so that they can provide p p P loans because it's a forgivable loan. As long as the small business can demonstrate that they've used their funds to retain their employees as well as their operating costs,

that's like a win win proposition. The loan will be forgiven. So I really expect maybe a slow intake, but um definitely more businesses. Unique businesses will be applying for these moans again in the PPP Loan portfolio, but also we have the disaster Loan portfolio, which is called the Economic Injury Disaster Loan Portfolio, the COVID that has I'm going to see about another eighty than ninety billion dollars available

for small businesses. I just got a couple more questions. Yeah, I know you are, and that's why I want to

be very respectful of your time. And I've just got a couple more questions because as as Congress gets it, rolls up their sleeve and tries to get to some type of another round of economic stimulus, and the President has come out and said he once days Leader McConnell has said, but before August recess, but what do you think are some creative ways to target micro businesses, to target these mom and pop shops and I don't like

using that cliche, but these small town businesses. What are some new ways that we can we can help as businesses um in the next stimulus that you'd like to say, yes, Kevin, there's a lot of discussion in the negotiations currently. We've submitted some of our recommendations to them concerning our what we call the flagship um loan portfolio, which is A seven A the Fible four which really focuses on manufacturing

and focus. It focuses really in the underserved communities where six of their employees have to come from that community. So we're really interested in the seven eight Bible or

portfolio in the community advantage. We've also looked at our federal chairman, our government contracting office, and then they're also there's also other um considerations on the table where we definitely are listening to all our small businesses and the chambers and the trade associations on what they believe would be necessary to two again assist these small businesses to whether this particular storm, this pandemic was only supposed to

as two or three weeks. Kevin, that was the first lifeline, and then it was expanded to the second trans of funds, which we now still have a hundred and twenty five thousand of US I'm sorry, a hundred and fifty billion available all in s b A. So, Kevin, we want to make sure that the small business community continues to thrive like they did pre COVID pandemic. Because I'll give

you a couple of statistics. The Hispanic women small businesses and the African American small women's small businesses were the fastest growing small businesses pre pandemic, and they were significant employers, and they definitely represent half of the GDP in the United States that represents something like ten to eleven trillion dollars.

So I hope that brings in an appreciation why this president is so focused on small business and mister administrations focus on small businesses because they are such a essential

um economic fuel engine into our national economy. And that sets up for my for my final question UH to you specifically you mentioned just about how disproportionately certain minority groups as well as rural communities have been impacted from an economic standpoint, and just the need to really make sure that that is UH, that that's revitalized, especially UH during this recovery and and oftentimes those smaller businesses are more difficult to get access to just given for a

variety of reasons, but for the government to directly access that those and penetrate those small businesses. So how crucial is it that these minority communities, that these underserved communities around the country are able to have direct access and a direct pipeline into the federal government and Congress to make sure that they are a part of this recovery

and not left behind. Well, Kevin, as an advocate for small business Administration and the fact that we recognize as the thirty one million small businesses come we've only only

processed about fifteen million small business financial transactions. We understand we have our work cut out, and so we remain laser focused on the opportunity zones the US, the U s m c A, because small businesses are very significant exporters in every state in Mexico and UM Canada are definitely markets that small businesses explore as an initial trading partner. So the President's pro growth policies will further accelerate the recovery.

And I'm ensuring that the entire s b A and our partners, which is comm Merce, Department of Labor, the Chambers, We're going at the small business community as a whole government, not just s b A. So we're we're totally committed in the underserved market, from the tribal nations, to the veterans, to the women owned and minority in general. I want to thank you for your time, and I'm gonna leave it there. I know you were on a tight schedule, so I want to keep you on time. Uh, And

I'm very appreciate. Thank you, very very much. I'm Kevin's really chief Washington correspondent for Bloomberg Television and for Bloomberg Radio. We are joined by a spokesman for President Trump, Ben Williamson. Ben, I want to get your reaction to something that I've been hearing a lot from administration sources, and that is to not to look at the number of cases that are being reported, but to also pay attention to the case fatality rate of COVID nineteen. Explain to me why

that's important and what the difference is. Well, Kevin, first of all, it's great to be with you. Thanks so much for having me, And that's exactly right. I think those are those are all additional metrics that we need to be looking at in addition two cases. It's true that we're seeing, you know, cases rise in some areas across the country. We have different hot zones that are popping up, and we're we're working with states and localities to deal with that. But a lot of that is

because we're increasing testing. You know, we've hit over forty million tests. I believe the number is now um And as a result of that increased number of testing, you're gonna be catching a lot more asymptomatic cases, cases that maybe aren't quite as serious as hospitalization rates may indicate. Uh. And so that's a couple of other things that we have to look at. Is number one, what are the hospitalization numbers? And the number two, what are the fatality

rates that we're experiencing. And the data does look good on those two fronts. We have one of the lowest fatality rates in the world. I think we're a little bit below or around four percent, which is significantly lower than some of our competitors across the globe. And so when we look at that, when we consider the numbers that we're dealing with, those certainly two of the indicators that we want to look at to see exactly how situation,

how serious the situation is. And meanwhile, we're staring down the prospects of another economic stimulus sent a Majority Leader Mitch McConnell has said he wants to see another round of stimulus ahead of the August recess. Administration officials have also suggested as much what is the White House want to see included in the next round of economic stimulus,

especially as talks for Phase four continue to intensify. Well, I think we're where Secretary of Minution mentioned the other day in a press conference, you know, protect job, protect kids, and protect liabilities. We want any stimulus coming out of Comngress to make sure that number one, we make it easier for people to get back to work, for businesses to to rehire their employee, used to jump start the economy, and make sure that our economy can get back to normal.

And then number two, we also want to make sure that it's easier for kids to go back to school. The economy can't really open and get back to normal unless schools are open, and we want to work hand in hand with states and localities to make sure that schools can open safely, the children can be safe in school, and the teachers can be safe in school. So that's something that we want to address. And then number three,

we want to look at liabilities. We want to make sure that businesses can open without fear of liability that will damage their business or or costume enough where it's not worth reopening in the age of COVID. So Secretary Minution is leading those negotiations, will be working hand in hand with Leader McConnell and our our Democratic counterparts in the Senate as well, and we look forward to seeing where those negotiations go. You know, Ben Williamson's on the line.

He's a spokesman for President Trump working at the White House. He previously worked for the Chief the now Chief of Staff, Mark Meadows, but previously for then Congressman Mark Meadows. So he knows a thing or two about the dynamics of Congress, the Republican Party and its relationship obviously with six Pennsylvania Avenue.

But I want to bring it back then to something you mentioned about schools, because at personally, I don't think economists are talking enough about this and the impact that it has on the psychology of the American worker, especially if they don't feel safe sending their kids back to schools. I mean, how are they expected to go back to work? But then you throw into the mix of of kids playing with each other going to schools, you know, and

and and all of these hosts of different questions. And so you mentioned this, and I want to follow up on it. What does Congress need to do in the next round of economic stimulus to help ease some of the concerns that parents have for sending their children back

to the classroom. You you hit the nail on that this is one of the more under discussed topics, uh in all of Washington, d C. As far as the impacts that the reopening schools has not only on the economy, but but on on mental health, on the on the fabric of communities, on psychology of both kids and parents. It's not just parents having the freedom to get back to work and provide for their families. But it's it's kids. It's kids being out in the community, it's kids playing

with each other learning. Uh, schools are such a huge driver of our success economically as a country. You're exactly right about that. And so what Congress wants to do. I think Kevin McCarthy had a not bet on this kind of explaining a little bit about what what what we want to do. But we want to work hand in hand with states and localities to make sure that they have both the funds and the resources to open up safely. And what that looks like, we won't get

out ahead of of the negotiations. It could look like any number of of safety measures. But but we want to make sure that from from Pennsylvania Avenue that we're there for states and local governments to make sure they have measures to protect kids and then also work with Congress if funds are necessary to do that. We're we're willing to be right there with them to make sure that kids can get back to schools, that life can get back to as normal as possible. What we deal

with ultimately therapeutics and a vaccine for COVID. I'm Kevin Surli, Chief Washington correspondent for Bloomberg Television and for Bloomberg Radio, and we're joined by CMS Administrator Verma. Thank you so much for being here. I want to ask you. On November one, CMS issued a final rule which would enact payment restrictions to non evaluation and management services in the

Medicare system. After COVID and seeing the need for some of these health servants is do you think that rule has got to be postponed until until we are through this or do you think we could still follow through with that. Wells a couple of things to know about this rule. First of all, this rule was trying to reduce the burden that physicians based every day with the

Medicare program. We know that there's just a lot of challenges and billing and they spend you know, unfortunately more time away from their patients, and this rule is designed to give them more time face to face time with their patients. Um. The other thing that it does is that it really reimburses physicians for the time that they're

spending with their pay patients. A lot of times, the way the system has worked in the past is that it doesn't really advantage those providers are primary care doctors that are on the front lines dealing with our patients that have multiple comorbidities. You know, a lot of our patients now have diabetes, hypertension, and a lot of different disease issues all going on at once, and they need

more time with their doctors. And so the changes that we made um reimburse providers for spending time with their patients and reducing their burden. So and and even during this and you know, this administrative verma, during this crisis, the elderly have been incredibly incredibly impacted both from a psychological perspective in terms of not being able to be with loved ones for their own safety. Uh and and

and economically as well. Uh And I'm curious about Medicare and whether or not you think, as we stare down the potential for another economic stimulus, whether or not Medicare payment increases might be something on the table for right now. You know, one of the things that we've done in the Medicare program is provide accelerated payments for our providers. So if they've had trouble, our health care providers have had trouble with finances, they've been able to seek loans

from the Medicare program. The other thing that we've done is that the President has been focused on and and UH is signing the Cares Act, and that actually provided a hundred and seventy five billion dollars to providers across the country. We know that providers have been hit hard. They have increased costs for personal protective equipment, many of them haven't been able to perform elective surgeries, and many

of them have closed down their practices. So those funds are there to help the health care system deal with the impact of the coronavirus. That being said, I can tell you and from the Medicare program is we're starting to see services come back up. We're seeing a lot of our patients accessing telehealth services, which is one of the things that the President is from the very beginning UH to make sure that our Medicare beneficiaries could communicate

with their providers while they were sheltering in place. Do you think we have enough doctors in the Medicare system because so many people getting sick? Or is that is that how many people should be concerned about it all? You know, I think generally we're we're adding ten thousand new beneficiaries in the Medicare program every single day. So the needs on the health care system and the impact are significant. But that's why the President has been focused

on workforce challenges. That's why we've been providing more flexibility to the health care system, especially during COVID, so that we can augment the workforce. We're allowing providers to operate at the top of their license, whether it be our nurse and necessis also providing more flexibility for nurse practitioners so that we can make sure that especially those hot spots and areas are able to address the surges and that they have the capacity to address the health care

needs of their communities. SMS administrators team up. VERMA is on the line and and you know, I'm struck by this because we hear of all of the heroic, incredible frontline workers who are just really you know, they're risking

their lives, they're working these incredibly long shifts. And then I get angry because I hear about the fraudsters, and I hear about people taking advantage of of whether it's the elderly, whether it's it's uh folks, you know, anyone really, you know, and they're being fraudulent and they're tricking people into making some telehealth payments. And you know, I know that this has been something that you've really, you know,

pushed back against and been trying to stop. So what are what are policymakers, what are you doing in order to make sure that people aren't being It's it's crazy to me, but that people aren't falling for these fraudsters. Yeah, it was disappointing that those frousters would try to take advantage of the American taxpayer during this very difficult time.

You know, we have weighed hundreds of regulations so that the health care system could work better, more efficiently, especially during this time of crisis, and unfortunately, people are taking advantage of it. I can tell you at the agency that we have focused on a very strong plan that for every waiver, for every flexibility, we have a plan to track potential prosters. So in telehealth, we've already found some people that were billing for more services that were

humanly possible in a twenty four hour period. So, you know, rest assured tax payers should know that behind the scenes, we're looking for those individuals and we'll do everything we can to um to to bring them to justice. And just a final question for you, on the issue of telehealth, I mean, it really is the future of medicine. What what I I would argue it might be one of the legacies of the of this horrible pandemic is that it's telehealth has really surge to to read program really

how we view getting access to our healthcare. But what what advances have been made in the telehealth field during the last couple of months. Well, you know, the President has been focused on making sure that we're bringing innovation technology and really modernizing the Medicare program. So what we've done from the very beginning, what he's done, and I think this speaks to his leadership around without bringing every

tool possible to address the coronavirus. And so we made telehealth available not only in the Medicare program, but also in Medicaid. And it's been really important for people because it's allowed them to receive healthcare in the safety of their homes. And it's also helped keep our healthcare workers safe and reduced use of protective equipment. Um. You know, it's been amazing to see the rapid adoption across the

health care system. Our patients seem to like it. Doctors were reluctant at first, but I think they're recognizing that tallehealth can be a tool to increase accessibility of healthcare services. So I've said that this is UH. The genie has been let out of the bottle, and I don't think there's any going back when it comes to tallehealth. I think the American public have clearly seen that there are that there is a place for telehealth in our health

care system. All Right, CMS administrators seem of verma. I will let you out of here because I want to be respectful of your time. Thank you so much for thank you. All Right, So here we are Mark. We're dealing with an uptick in cases and there's a lot of questions about how to best control this TOTH Economic officials have said as part of the administration that closing down the economy again is just not on the table.

So how do we get this virus under control? Well, closing down the economy is certainly not UH an option that's on the table. When the United States asked Americans to UH sacrifice for forty five days to slow the spread, people made enormous sacrifices that gave us the time and preparation to build supplies. Some across the globe to make sure that our hostels are better prepared and to develop better therapeutics. And today at this point, um doctors far

no far better how to treat patients. And what we're seeing in many cases is an ability to to better protect those that are most vulnerable, whether it's those who have come more abidities or or those that are elderly in age. And so what we're seeing now is a is arising cases among younger populations twenty to forty four years old. In some cases, um as, our health experts will tell you from decisions that they've made that are

unwise about not taking the virus seriously. But in other cases it's it's basically people getting back to work and in some cases employers mandating that all employees get tested. And you're finding people who are asymptomatic, which is good to find so you can isolate them. But but we are better able to treat patients. There's better a capacity within our hospitals in these areas now and UH and going back to to shut down is not an option. We can do both. We can make sure that America

stays open and stays healthy. And I think that one things we've learned through this, Kevin, is there's also enormous health consequence to shutting down the economy, whether or not that's a financial pain or whether or not that's the psychological pain for many people. Mark, you know we're heading into Phase four talks later this month. What are some

of the priorities for Phase four? Well, I think what you're seeing, Kevin, is that over the last couple of months, uh seven and a half million jobs that have returned. At the at the nature of this epidemic, we've lost a little over twenty million jobs, so a third of the way back, and that means we have we still have a significant way to go, but we're but the strength of the last two months certainly surpassed expectations, and we believe that you can continue to see that momentum

in the next month as well. I think we want to make sure that um that people that are that are still unemployed or hurting or protected. But at the same time, UM, we want to we want to take into consideration of fact the economy is bouncing back, and once you try to contain the amount of spending, I think that you've seen a price tag of about a

trillion dollars or less. There's obviously been a lot of stimulus put in the system over the last couple of bills, and so the price tag for us would be that. And I think whether priorities for us is liability protection. We think that's essential for employers bring people back to work and just quickly the center of darg to Leader mich McConnell says, another round of stimulus ahead of August is at the times here that the White House is

working on. It is the timetable. The August recess for Congress should be the first week in August, and so by that timetables and we want to have a bill on the President's desk. You know, something that is just as important to the economy and and for folks getting back to work is if their kids can go to school. And this is something that I don't think economists have talked a lot about publicly, but increasingly they are doing.

So where does school and getting kids back to school in the fall based upon the data of the virus all over the country, Mark, how does that factor in and what is the administration doing in order to work with schools across the country, Kevin, is a great question You're exactly right. I think there's not been enough attention paid to that to this point. Today the White House is devoting almost an entire day to exactly that question.

The Vice presidentill be leading a call with all the nation's governors this morning to talk about the importance of making sure schools are reopened in the fall. Additionally, there'll be a summit here at the White House throughout the afternoon that will culminate with the President Vice President giving remark.

But recently, the American Academy of Pediatrics came out with a study that said it's essential that children need to get back in the classroom because developmentally they'll fall behind. But as you mentioned, it's also in critically important that if parents his kids are not able to go to school, and parents are home with their kids, they're not able to get back to work, and that's that's a big

challenge for our economy too. And so what we found is all the evidence says that that actually the coronavirus is less of a health risk two people under twenty five years old than the average flu is. Conversely, it is a greater risk that people at older populations, but for children it is a very very low risk, and it's something that we should be making sure that our

children are back in school across the country this fall. Alright, final question for you because you mentioned therapeutics, and I want to ask you about hydroxychloroquine because there seems to be this this new uh interest from from President Trump about hydroxychloroquine uh and and f d A. Talk to me about how the f d A is streamlining regulations, are really cutting through regulations in order to get some of these therapeutics more quickly, uh and and what the

administration is doing on the therapeutic front. Well, Dr Han has done a phenomenal job as head of the FDA and helping to streamline, cut through some of the red tape. And there right now um more than the hundred and forty products in the pipeline that we should anticipate may and getting amproved before the end of this year, and you've seen many already actually come online. I think the most promising candidly in trials that we've seen as blood plasma.

And it's one of the reasons that those who have been infected and recovered from the coronavirus, we really asked them to go donate blood because having that that in the in the supply is really one of the best treatments for patients that are currently suffering from the pandemic. Alright, Mark short I got you out here with less than a minutes ago. Thank you for your time. I appreciate it. Kevin, thanks,

thanks so much for having me. We're joined by Tyler good speed UH and Tyler, thank you so much for for joining us. I want to ask you about the next rounds of economic stimulus. Senate Majority Leader Mitch McConnell says by the end of August. Is that what the White House wants and what does the White House want to see in the next round of economic stimulus? Yeah, so the White House we've had some internal discussions and definitely we do want to see further action to facilitate

continued recovery, particularly in the labor market. I know that some priorities over here include a payroll tax cut UH and also possibly some some some deductions to help businesses tackle the new COVID nineteen environment UM and and also some live potential liability reform to ensure that businesses are protected against excessive UH non economic damages for COVID related liability.

And then also we do want to make sure, especially as the labor market continues to recover, that we're striking the right balance between income replacement on the one hand and ensuring that we don't have excessively high implicit tax rates on the return to work on the other hand. You know, I think that's really that's the point I want to pick up on, is that is that increased taxes,

especially for individuals when they return to work. You know, the unemployment benefits are are set to end, the extra unemployment benefits are set to end at the end of the month July. What do you think is going to

be done with stimulus and unemployment benefits? Right? So, I think during the depths of the crisis, So when we think back to April um you know, this was the worst economic shock to the U. S economy since since at least the nineteen thirties, and when we look at all the economic indicators, I mean, it was on track

to be a really devastating economic contraction. And so with a view to the fact that household spending is the U. S economy, I think at the time it was very important that we've made sure to really buffer household incomes um and and make sure that we didn't see a collapse in consumer spending. And so one of the things about the the expanded unemployment insurance benefits and the rebate checks is that they were very much targeted towards the

lower end of the income distribution. So when you look at the months of household income replaced by the care Zack provisions, they were very much geared towards the lower end of the income distribution. So I think in any any future rounds of discussions with with Congress, we want to, as I said, make sure that we're we're not allowing a big blow to household income and consequently to consumer spending, while also making sure that we don't have really high

implicit tax rates on on that return to work. So I think, what's what's interesting, and you know this, Tyler, good speakers on the line with us. You know, in terms of some Republicans that I talked to, they're a bit nervous, Tyler, They're a bit nervous that, you know, yeah, increase the unemployment benefits and folks will will be less

incentivized to go back to work. Is that a concern that the White House has and how do you work with policymakers on the hill to prevent that if that's the case, right, So, as I said, yeah, we definitely don't want to see uh implicit tax rates exceeding acent meaning you know, the folks are financially better off on unemployment insurance than than unemployment UM. And so you know, we just we we definitely want to make sure that

we strike that right balance UM. And so one of the things about some of the extraordinary provisions of the CARES actors that they were set to expire, because I think one of the lessons we learned in the aftermath of two tho eight two thousand nine is that when you have a lot of high implicit tax rates on work, it can really hinder the recovery of the labor market. And you know, until the labor market recovers, you don't

really observe a strong recovery and the overall economy. And just the final question for you, Tyler good speed, and this is about small businesses. How do we make sure that in the recovery that Main Street is not going to be left behind? Because when you look at you know sort of how this is gone, It's been minority groups who economically have really felt the brunt of this, as well as some small businesses. So what can policymakers

do to prevent that? Great questions? So certainly, you know, we've already seen in the Care's Act a lot of the aid. In fact, most of the aid to businesses were two small businesses. So the paycheck Protection program that was very much geared towards small businesses. The average loan size was just over a hundred thousand dollars and almost of the loans approved were for a hundred fifty thousand

or less UM. I think moving forward, you know, we want to make sure that any any continuing support for for businesses are are likewise targeted towards smaller firms that you know are have a more difficult time weathering some of these adverse shocks. Um. And then on the on the labor market front, you know, the faster we can get folks back to work in a in a safe environment, um, the faster we can help those at the lower end

of the income distribution. Because remember if we cast our minds back to February, before the pandemic really got got under way, Uh, it was the lower end of the income distribution that was enjoying the fastest wage growth. African Americans were, for the first time during the preceding expansion experiencing faster wage growth than white Americans. Those without a college degree, we're experiencing for the first time in the expansion,

faster wage growth than those with a college degree. Um, you know, the faster we can return to that sort of tight labor market, I think, you know, the quicker we can return to a state of affairs in which those who were previously left behind during the preceding expansion

can finally enjoy the fruits of a continuing expansion. So I think we're definitely gonna keep keep focused on facilitating labor market recovery because, as I said, until the labor market recovers, we don't see, uh, we won't see a broader economic recovery. And then just one final note, you know we saw already in the June jobs report, job gains for African Americans was the second highest on on record.

The record was actually in February, following the tax tax law. Um. So, as I said, you know, the faster we can get back to a tight growing labor market, the faster we can observe an overall recovery. All right, Tyler Goodspeed of the White House Council of Economic Advisors, thank you so much for your time. You've been so generous with your time, and I want to make sure I get you out of here on time, So thank you, Tyler