Declining. We saw a constructive things. Waiting for the eighth or ninth year of expansion is not a perfect strategy. There is an issue of wanting to do as much as we can to avoid exacerbating the longstanding inferences and get back to a Strong Economy or we can start making progress again, which is what we were doing in february. Senator smith as the fed chair and at the fed you have the mission of low unemployment and managing inflation. And this need to spur job growth. We said there is not been a big worry about inflation. What if the fed were to lower its target for employment, even under 3 . What impact might that have on addressing longterm needs for addressing inequality. Changeowell we made a in our operating framework which addresses that directly. We will have an estimate of the natural rate of unemployment. We will not act on that, even if unemployment goes below that, unless we see inflation or some other problematic thing that seems to be late to where our rates are. We are not going to preemptively raise rates until we see actual inflation as a consequence of low unemployment. That is a lesson we learned during the last expansion when we saw 50 year lows and unemployment with high participation. A strong labor market as we have seen it in my lifetime without inflation acting in a way that was concerning. Smith thank you chair powell. I also want to extend my thanks to secretary mnuchin for his service. Senator kramer . Thank you mr. Chairman and thank you to witnesses. Let me also say congratulations to the chairman. A wonderful two years as chairman. Youve been great to meet in the committee and i appreciate your approach. Also thank you to senator max sally, senator tillis. We will miss you both and we are grateful for your service. Ie issue on my mind and one wake up thinking about every day about how we will tackle ppp forgiveness. I want to address a couple of things directly to you, secretary mnuchin. You know senator menendez and i along with senator tillis, nema, france allies have introduced a bill that makes loans less and supposed to be forgiven. Loans 150,000 unless makes up 85 of total loans, but only 26 of the dollar amount. Both chariman powell and secretary mnuchin have said during this hearing that what businesses need is grants. Forgiveness was a major component of our bill. Once again, in my view, congress did what it often does and does not prescribe a bunch of a solution which allows for a bureaucracy, which i fear more than the devil itself, to come up with their own rules and regulations always aimed at cya. No understanding of how a business operates or how it keeps employees. , it waspass ppp designed to be forgiven. It was designed to keep people on payrolls so they imported the unemployment rolls. Weise morse we forced small lenders to use the program. Ive talked to hundreds audible times, hundreds of banks, consumer banks, large banks, credit unions, even Credit Services about ppp and why we utilize it. Yet, here we are still waiting for another package. It is my hope, conviction to work my tail off to prescribe a solution to this. In the meantime, mr. Secretary, ive been very disappointed in the response. They seem to use their discretion to the advantage of the government, not the advantage of Small Business. Let me give you some specific examples i have heard from my constituents. One borrower example. Heres what they wrote to me. Senator kramer, please help. With congress not passing a new stimulus, it leaves many Small Businesses behind. If we go to our bank and ask for an operating loan from they tell us not into you get your ppp forgiveness. Why havent they gotten it. We were pretty instructive on this. The bank says until we received notice from sba the original ppp loan is given, they will not lose they will not use the money. Here is how slowly they were working. This is a loan of 100,000. Slow theymoved so needed pressure from us. We applied that pressure. To forgive iteeks 100,000 loan where the program was designed for to be forgiven. His is a small Hotel Operation it took nine weeks and one day because the day we made the call the sba finally forgave the loan. This is one example out of hundreds or thousands. Here is one from a lender. A lender says reaching out as, fyi, the fda has requested digital documentation on 5 of loans to 134,000. It is a waste of time. Always does what bureaucracys will do. This is very important to people they couldve laid all these people off, they couldve gotten a generous unemployment extension program. They extended the time, they asked for more documentation, they put demands for gold. The cost of complies 2000 for or just for borrower. My time is for borrowers. My time is up. We have to do better. Sec. Mnuchin i agree we have to do better, and we support legislation to help forgiveness. Kramer in the meantime, please use the flexibility the agency has until the bureaucracy to stop being the bureaucracy. There is a disconnect between the billionaires in the business. We need small pieces. Mastro . Or cortez let me jump right into accurate i talk to about this all the time. I am from nevada. The Hospitality Industry has been hardhit. Nevadas Unemployment Rate is more than 12 . 175 thousandthan people continue to claim unemployment insurance. Just this just from the American Hotel and lodging that is nearly 70 of hotels may close by the end of this year if they do not receive additional government funding. I will tell you in las vegas and reno, employment in our hospitality and reach her and leisure secretary is down 25 and 14 respectively. Let me start there. Secretary mnuchin, what is the administration and you advocating we should do to address the impact we are seeing on our leisure and Hospitality Industry . Sec. Mnuchin specifically, and i agree with you this industry has been devastated, i believe the ppp could immediately help people. I think the airlines have also been devastated. We support additional relief for the airlines. Hotels, Small Businesses, entertainment, all of these companies could access the ppp. Sen cortez masto when i talk about hospitals and leisure, im talking about restaurants and live events. When they ask for ppp, theyre not looking for loans. David we have been listening to jay powell and Steven Mnuchin testifying today as they wind down their testimony. On the cares act, particular what the economy needs right now, what its Current Situation is, and whether the needs to be further stimulus. Also a fair amount about the decision to require the fed to give back 500 billion they had for possible loans to certain individuals. I want to bring in our chief International Policy correspondent michael mckee. What did you learn. Michael i did not think we learned a lot. The questioning broke down partisan lines with democrats suggesting the treasury secretary was wrong to cancel the programs. Republican saying that was the intent of congress. Both sides agreeing we you more fiscal stimulus but not agreeing on what kind or how much. This new Stimulus Program announced today by the Bipartisan Group of senators worked its way into the hearing and many of the questions were framed around whether you should do this or that. Jay powell duct most of those saying the decisions on how studio in the economy are up to members of congress, but he argued we do need stimulus, we need something that would be a bridge to get us to the point where we can start growing again. He said are certain states and certain sectors that have been your , including including tourism, leisure, and hospitality. You just heard senator cortez master talking about nevada. This did not move us any closer to deciding what or how much or when. David thank you so much to michael mckee. We heard from fed chair jay powell about his concerns for the u. S. Economy even as president elect biden is about to make a formal announcement. Roger altman went to wall street to washington as the secretary under clinton and then referred to found evercore. Thank you so much for being with us. It is a point of juxtaposition. Where is the economy, how much. O we need to keep us going what is your assessment of how bad the economy is . Roger have a split screen a split screen character the economy given that the period between now and the vaccine is a period of acute need. Postvaccine, and i do mean universal distribution of the ofcine and post vaccination a High Percentage of americans, we should see growth. It is interesting that this is very different than the foundions that mr. Biden on becoming Vice President in 2009. It is an interesting contrast. At that time the stock market was falling, unemployment was rising, the economy was weakening, the worst was yet to come. Today it is different. Unemployment is falling, the economy is moving into recovery rising. E market is the outlook is better. Temporaryve a more but acute need then we had at the beginning of 2009. Is the following. A stimulus bill, an additional version of the cares act, which includes funds for stopping distancinging, vaccine distribution, tracing, so forth, additions to where thent insurance pandemic premium expired a while ago. States, ando the perhaps further assistance to those ares things i should think of that should be part of a stimulus at best passed during the lameduck session, but a best at worst past after the new president s inauguration. David every day people are having a tough time. At the same time, it is a matter of timing, looks like we will have a universal vaccine sometime next year. Is there permanent damage that can be done . We have Lael Brainard saying if we do not get fiscal stimulus there could be permanent scarring. What is that rest . What is that risk . Roger when Joe Biden Takes Office as president there will be about 10 million americans unemployed. Two thirds of them will become covid and a result of the economic plunge from it. There is a serious problem, and i believe what she is referring to is the need for targeted assistance, which i would define as increase temporarily in the loyment insurance better and perhaps the reimplementation of a direct payment to low income households. Insaw 1200 per household early to mid 2020. We probably could do that again temporarily. I think he is referring to the need for that target assistance dropping out of the workforce permanently. David we have the immediate problem. Take a step back of a longer scenario. We have Vice President elect joe biden announcing his Economic Team. How much is it realistic to expect a new Economic Team can redirect the economy . Youve been in those rooms in washington. How much can the administration do in the longer term. Roger some of the answer to that depends on what can be legislated and what cannot be, and we are all familiar with the the thin majority that democrats are going to have with the house. The uncertain makeup of the senate. Either Mitch Mcconnell would remain majority leader because the republicans will majority through the Georgia Center runoffs. Or the democrats when the both and Chuck Schumer becomes majority leader. Either way it is hard to govern when you have the opposing party in a majority of the senate or just a 50 50 split in the senate. Very hard to govern. If president elect biden coming into office had more running room from a legislative point of view, the answer is you can do quite a lot. It is going to be challenging. To give you an example of one thing that could be done if there can be some bipartisanship , both parties agree on infrastructure. Both parties agree we need a major federal initiative on roads, bridges, tunnels, airports. Whetherd hope that mcconnells minority leader or schumers minority leader, we could see agreement on the infrastructure initiative. It comes to matters like president elect bidens care workers agenda, which i find very impressive or his climate agenda, it will be hard to legislate those. David what about one specific part of the economy . That is reintroducing racial and economic justice, that is to say, address some of the economic inequalities in the country, something we heard from chair powell about, it is not just about doing the moral thing but better for growth. There is things a buying administration to do even if they dont have control of the senate in that area. That is a hard question to onwer because it depends what you think you can achieve by executive action as compared to what you need to do through legislation. The right answer to your question is partly economic and partly various levels of criminal Justice Reform. When it comes to the economic that i said a moment ago we probably could use a reinstitution of the 1200 per payment family monthly to particularly low income households. The reality of the 2020 recession, the degree to which it has deepened, the inequality is way toos country big. Blacks and hispanic americans are particularly victimized by this recession. If there could be agreement on the right side of the stimulus, additional stimulus, that would respond to the question youre asking, in part. Some of the criminal Justice Reform issues are state and local issues, not federal ones. Although there can be a federal role, there is also an important state and local role. It is hard to tell precisely what could be done because it is hard to tell what there can be , can some ofp on this gift on a bipartisan basis . President trump did succeed in passing the First Step Act and maybe this could be the object of further bipartisanship. It is hard to know right now. David lets turn from your role as economic statesman to your role as head and founder of evercore. Give us a sense of how the csuite is reacting to the biden transition. The senate and the csuite, are they in a panic about possible taxes . Are they looking forward to more stability . What is their attitude. To onelets step back month ago today. We were within a day or two of the election. Today, a month later, the reaction of the largescale Business Community in this country is one of giant relief. There is no doubt about that. The Business Community is looking forward to a period of greater predictability, ability a more thoughtful approach to governing and the like. The answer is lots and lots of relief. You have different views as to whether they think divided government with the sentence republican hands and the white house in republican hands is a good or bad thing. Some people would think is good because it imposes limits, but some think it is bad because of gridlock. Generally speaking, the Business Community is welcoming this new administration. No doubt about it. Thed might you anticipate possibility that for some ceos, their eyes might turn oversees more than they did under the Trump Administration . There was a lot of trade strife. A lot of issues, a lot of sanctions. It appears that may ameliorate somewhat. Right now is seeing the stock markets and come back strong. Does it open up more International Deals . Roger at the margin, yes. Aep in mind, if you are multinational with half of your revenue outside the u. S. , you do not have the alternative of paying less attention to your nonus business. You have to. You have to do that whether donald trump is present joe biden is president , whatevers going on in the congress. The business trinity will welcome a greater degree of stability and a less tariff centered Economic Economic policy. Look at the way china managed to succeed despite it. I think the answer to your question at the margin is yes. David we talked earlier about what looks to be good news on the horizon sometime next year with a widely distributed vaccine. As the Business Community, particularly the leadership, are they anticipating snapback . Things might get better fast after that happens . Roger it depends on the business you are in. The answer, generally speaking, is yes. An extremely strong second half of 2021. I think the stock market is anticipating some of that with this recent runup. The market in November Rose more than all but four or five months in the history of the stock market. I think the answer is yes. If you look at housing and you look at autos, they are strong right now in a way you would not have anticipated looking back in march, when the virus erupted in the lockdowns happened and so forth. On christmasding sales between ecommerce and. Raditional it is fairly encouraging. The economy is not doing as poorly as he was thought it ld set or eight months ago seven or eight months ago. That is because while the shock to the economy was massive in the second quarter, we have the largest decline in gdp ever recorded, the policy response was also massive. Monetary and fiscal. Was at 30 ofpond fourun right in the largest sectors in the world. It was rather a draw in terms of the u. S. Economy. Policy response how the economy stable. ,avid thanks to Roger Altman Evercore chairman and founder. This is bloomberg. Its down to the wire, the teams been working around the clock. Weve had to rethink our whole approach. Were going to give togetherness. Logistically, its been a nightmare. Im not sure its going to work. Itll work. I didnt know you were listening. David this is balance of power on Bloomberg Television and radio. Im david westin. First word news, we go to Mark Crumpton. Mark president elect joe biden is setting up his first confirmation fight with Senate Republicans by choosing neera tanden to serve as his budget white house chief. Her selection to lead the office of management and budget drew swift objections from republican senators who could block her confirmation. Texas senator john cornyn called the choice radioactive. Covid19 may have been quietly spreading in the u. S. Weeks earlier than previously thought. A new study published today identified more than 100 infections in nine states between december 13 and january 17. The samples collected by the American Red Cross were sent to the cdc for testing to detect if there were antibodies against the virus. The first case was diagnosed in the United States on january 19. British Prime MinisterBoris Johnson is urging parliament to approve the new pandemic restrictions for england. He said the emergence of vaccines means the end is in sight. We have ordered 100 million doses of the Oxford Astrazeneca vaccine. That is seeking approval. We will order 7 million doses of the moderna vaccine. And we have ordered 40 million doses of the Pfizer Biontech vaccine, which if approved by the regulator could start being administered before christmas. Mark Prime Minister johnson says the government can allow the current lockdown to and wednesday with no replacement whatever. Tori lawmakers say the proposed new rules are too harsh and risk damaging the economy. In western germany today, two people died and at least 15 injured, some seriously, when aid to vehicle drove into a pedestrian zone in the city of trier. Powered by more than 2700 journalists and analysts in over 120 countries. Im Mark Crumpton. This is bloomberg. David thank you Payment Congress has returned for its lameduck session with an agenda that is packed with important issues, including funding the government and more fiscal stimulus. We welcome now Congressman Ken Buck of colorado. Thank you so much for joining us. Lets start with the stimulus question. We heard from jay powell and secretary mnuchin talking about the possible new stimulus. We have a bipartisan proposal out of the senate side. I dont know if you have seen it yet. Where are you on what we should be doing about stimulus . Ken we should be helping Small Businesses and those folks unemployed. We are going to lose a lot of Small Businesses that will be permanently shut down, people who lost their life savings opened up restaurants and other things, and we have to focus on that. We have 130 billion dollars left over from the 6 trillion relief package that could be used, if it were appropriated in different parts of the paycheck protection program. This bill really is a Christmas Tree of gifts for all of Speaker Pelosis best friends payment 10 billion for the postal service. 160 million for state and local governments. Over 900 billion. David that Christmas Tree as you describe it is the 908 billion dollar proposal that came from republican and democrat senators today . Ken absolutely, yes. David lets come back to state and local. Billion dollars, much less than Speaker Pelosi asked for. Are you saying there should be nothing for state and local . Jay powell today said that they need something so that they are not laying off people. Ken they can raise taxes to fund their government. When we appropriate more money, we create more national debt. That will have to come due at some point. We have to be responsible. Governors are deciding to shut down their economies, not the federal government. To have a blank check from the government to fund the decisions made by state governments is a mistake. David you mentioned Small Business is being the center of your area. For smalllion businesses in your proposal. Does that make sense to you . Ken maybe it is too high because we already have 130 billion left over in ppp that has to be shifted. It is in the right range to help Small Businesses, those who are unemployed right now. If we get those businesses back and they are producing revenue, the states will get that revenue. But the governors have to make decisions about how to shut down a state, how to protect citizens in the state that also takes into account the economic impact. Aymen if the federal government writes a blank check, state governors dont have to take into account the financial impact. David lets go to your own district. Give us a sense of what is going on on the ground first with respect to Small Businesses, and second with respect to covid. Looking at the state dashboard, colorado really has a problem, although not so much in the eastern part of the state, where you are from. Unfortunately, our governor and her husband have covid. I know many others that have had covid. We have seen a recent spike in cases and hospitalizations in the state of colorado. For that im very sad. I see a lot of restaurants that have gone under and will never reopen. I see a lot of other small Retail Businesses that have gone under. Those are the businesses that need the help the most in colorado. Restrictionsbout on businesses, shutting down, having curfews . Where are you on that . Do you think it can be effective in curtailing the virus . Ken people have to be responsible and take into account their own physical abilities, vulnerabilities. A group of people uralerbal colorado r colorado that they cannot go to a restaurant with only a few cases of covid in the area, onesizefitsall does not work. There may be one plan necessary for denver and a different plan appropriate for the rural areas. When the governor shuts down a state completely, it doesnt take into account the different medical conditions of theviduals, as well as different financial constraints of various counties. To thewe look forward likelihood, almost certainty, of a blighted administration. President elect joe biden announcing his senior Economic Team. As you look at that possibility, are there a risk where you think you could work as a republican congressman with the new administration . Ken there are a number of areas where there will be Common Ground, but im very concerned about the president elect if heis president elect how is addressing what he considers the divisiveness. I think he is creating more divisiveness than calming americans. When you talk about going back into the paris accord, restarting the iranian agreement, those are things that are very divisive in this country. Hehe really wants to heal, has to start looking at ways to bring people together instead of dividing, the way the Obama Administration did. David i know colorado is concerned about the environment. I have a daughter and three grandchildren that live in colorado actually. There must be something the president elect can do on the environment that can be bipartisan . Ken absolutely. First of all, welcome to colorado. Please send a lot of money. To reduce Carbon Emissions in the United States and around the world, natural gas is the area. In my district, we produce a ton of natural gas. Rent late,onmentally as environmentally friendly as any mass produced form of energy is. If President Biden wants to act responsibly, picture we promote even cleaner ways of producing natural gas. David i appreciate you spending time with us today, republican ken buck of colorado. We will bring you the president elects announcement of his Economic Team coming up shortly. This is bloomberg. Mberg. David this is balance of power on Bloomberg Television and radio. Im david westin. President elect biden has chosen janet yellen as his treasury secretary, and there appears to be little doubt she will be confirmed with no one questioning her abilities as an economist and central banker. But the job also includes issues with trade relations and sanctioned. For a view on how treasury secretary yellen could change economic relations with the rest of the world, we welcome the senior managing director of bda partners. You know the International Economic sphere so well. As you look forward to what will be a yellen treasury, how will that change, and the deals that you can do . There are two different worldviews. We have seen under the Trump Administration obviously a very combative approach to international relations, particularly attempts to make bilateral transactions with reallynt countries which allows the u. S. To use its economic might in a narrow way to bully other countries. Janet yellen comes from the opposite worldview, which is one of multilateralism and consistent with the more traditional u. S. Worldview post the second world war, which is the strong institutions bring stability and a better outcome for the world economy, including the u. S. David you have at a lot of dealings in asia. Asia seems to be resurgent year, bouncing back from the coronavirus better than a lot of the west. What does this mean potentially for u. S. Businesses, european businesses doing business in asia . Euan the wall street journal has derided the new Economic Team as effectively a continuation at least the growth obamalow policies. I would say actually the market feels differently. Business people doing deals across borders deal very differently. A sensea sense of calm, of going back to a world where the default is open trade, free trade, and cooperation between different countries. Of course, there is still a question particularly around china, because i think we will see the blighted administration, which continues to be pretty cautious toward china, and i think biden has taken the temperature of popular opinion in the u. S. Which wants a strong response against any threats coming from china. David there is china and then the rest of asia. As you look at opportunities, particularly in a Biden Administration, where do you look . A difficult one because obviously there are conflicting things going on there. Frankly, the Indian Economy is looking somewhat weaker at the moment. Over the next 10 years, we think india will take some of the attention away from china. There are opportunities all over the place. We have had Great Success at my firm in vietnam, where some see it as an alternative to investing in china. And thet only trump americans from the recent administration who have been scared of china. The whole world is trying to figure out simultaneously how to take advantage of the very strong momentum in the chinese economy. China does not feel like there is a recession today, feels like it is growing well, but people are also scared of a protectionist and bullying china on the global stage. Opportunities for vietnam, korea, japan, and all across southeast asia. Indonesia is an interesting country with its huge population. David we want to be careful not to get ahead of ourselves, but as investors, people like to see around the corner. There is anticipation that sometime next year we will have a widely distributed vaccine which may make the world look a different place and may affect economies globally. How does an investor look at that prospect and prepare for it . Ahead butont look markets do in the evitable he. There is a reason we have seen strong stock markets and emerging markets. People are looking beyond covid. Vaccinations are taking place in many parts of the world. Basicallye have rolled out there somewhat untested vaccines right across china. We are seeing some russian vaccines get into different emerging markets as well. Investors assuming as that the winner of the end of the pandemic and the beginning, the next few months are scaring everyone, but really everyone is starting to lay down bets for a strong resurgence in 2021. There is a lot of cause for optimism in multiple markets. I think we will see a return to consumer growth, confidence. We are all looking forward to that. David one of the things that is difficult to anticipate is how janet yellen as treasury secretary would handle things like sanctions. That has not really been in her repertoire. It was used obviously by the Trump Administration, and the blighted administration as well. Or iran,t is china some of the sanctions iraq involved with europe, what do we anticipate from a yellen treasury . Calmer, more multilateral set of discussions. She will be very simpatico with the germans, the french, the u. K. There will be an attempt to find some Common Ground on iran, probably less threat of military action. Probably some deescalation. Probably a little pressure put on the israelis who have had free reign under the trump. Dministration i think we will see a much more willive engagement, which save established companies right across the world. David i want to come back to that reference you made about that wall street journal editorial page, low growth, like what republicans say under president obama. People can dispute that. Do you or investors have a concern that if a biden presidency will not be as committed to growth as donald trump was committed to . Euan yes, that is a concern. Jay powell and Stephen Mnuchin have been generous to investment banks, the stock market. By giving every opportunity for companies to basically make what put. Lled a powell you can raise money cheaply in all kinds of different ways over the last four years and you can invest. For investors, it always felt like there was a floor but never a ceiling. Very proinvestment, promarket over the last few years. Regulationelse like around environment is secondary to making sure companies can be successful. What you are seeing in the biden team that he is putting together, although to a large degree populated with obama loyalists and even Hillary Clinton joe biden loyalists, what you are seeing is a series of advisors who will care more about the man on the street, the workingman, redistribution of wealth to some degree, particularly reducing economic inequality. There are a lot of labor guys in the team trying to make sure that workers are protected, and to the extent that comes into conflict with allowing Big Companies to become successful, the attention will shift a bit more toward protecting workers. That may have some implications in terms of reading in unfettered capitalism. David you mentioned the powell put. It is not just borrowing money cheaply but it is supporting companies. You have a discount factor of almost zero. Is there a concern in the Investment Community that will have to come off at some point . Euan we know there will be a change of pace. You know what has happened with the stock markets. The dow is up another percent today. Are verye, investors happy that we are going to have a bit less drama and generally fairly centrist policies going forward. Overall, there is a lot of cause for optimism, and the markets feel good about where we are going into next year. David thank you so much, euan rellie, cofounder and senior managing director at bda partners. We are still waiting for president elect biden to introduce his Economic Team. We will bring you that lie what happens. Has toup, what gary cohn say about the economy and lack of stimulus. This is bloomberg. David president elect joe biden is rolling out his first set of nominations for his Economic Team any minute now. Spoke earlier with gary cohn about the addition of janet yellen to the Biden Administration and his honor stations observations about the state of the economy amid the pandemic. One thing we have to remember is how resilient the u. S. Economy is. If we all think about what we have been through since march of this year, and where we are now in december, i think it is nothing short of extraordinary how resilient we have been, how well the consumer has held up, how well the economy has held up. Shape, orn any way, form saying we are out of the woods. We are not. I desperately believe we need more stimulus you would and we need more stimulus today. I would beg congress to go back to work and has a stimulus bill this week. There is no time like the present. Dollars put back in consumers pockets would be very important. We have a lot of support dollars that will end over the course of the month. Unemployment benefits will run out. Other benefits that people desperately need are going to run out. I think we are doing as well as we can, given the situation, but there is a normas opportunity to do better. An enormous opportunity to do better. Congress should pass a similar package. Emily do you think that will happen in a lameduck session or in a divided government . Hoping it praying and happens in the lameduck session. There is no reason it shouldnt. If it is going to happen eventually, it may as well happen now. We all know the present value of those dollars is extraordinarily high today. Avid that was gary cohn catch more of that interview on studio 1. 0. Coming up, balance of power continues on bloomberg radio. We are waiting for president elect biden to introduce his Economic Team. This is bloomberg. Are you frustrated with your weight and health . Its time for aerotrainer, a more effective total body fitness solution. announcer aerotrainers ergodynamic design and four patented air chambers create maximum muscle activation for better results in less time, all while maintaining safe, correct form and allows for over 20 exercises. Do the aerotrainer super crunch. The prestretch works your abs even harder, engaging the entire core. 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Coronavirus related hospitalizations in new york jumped by 242 in one day, the most since april. Governor cuomo says Hospital Capacity is a top priority for the state, which is calling on Health System to begin increasing the number of available beds. New york city is urging older adults and those with Underlying Health conditions to stay home and not have guests in order to moderate the spread of covid19. Ande talks between the u. K. European union are so tricky and so difficult that there could be a positive outcome in the coming days, according to