Authorization for Emergency Use. That means options when it comes to vaccinations. Thats good. At the same time, republican congresswoman Marjorie Taylor greene is holding her own News Conference one day after she was kicked off her Committee Assignments for supporting over years violent rhetoric, dangerous disinformation. We begin with the economic news. Christine romans, 49,000 or so new jobs. Yesterday we had nearly 800,000 new unemployment claims. Do the math for us there. Where does it stand in terms of all these lost jobs . Theres no historical precedent for this. You had 14. 8 Million People who told the government this month that they didnt have a job to go back to. The business they worked for was closed or was barely open but not allowed to give them hours. And a quarter of the people working say theyre working from home. The virus has completely changed what is usually a dynamic labor force. This 49,000 jobs created was mostly in professional business services, going back to schools jobs, but in the parts of the economy really hurt by the virus, you saw jobs lost in retail and leisure and hospitality, the same places. So there are some winners, but mostly millions and millions of losers in this number. 49,000 also the month before was worse. And in november, the number was worse than we thought. When you add it all together, we are down 9. 9 million jobs since the pandemic began. And ive been doing the numbers on women. Women, 5. 2 million women have dropped out of the labor force. 5. 2 million since the beginning of last year. Its just remarkable what you are seeing. Jay powell, the fed chief said if you count all these people who dropped out, you are looking at a jobless rate more like 10 or higher, not the headline 6. 3 we saw last month. And i think its so much beyond just the stimulus. Theres going to be a lot of permanent job loss and thats not even taeckled in this plan. Thank you for your reporting. Jim . In the next 30 minutes or so, President Biden is set to meet with Democratic Leaders to discuss their next steps on covid relief now that the senate has adopted the democrats budget resolution. Jeremy diamond joins us at the white house ahead of that meeting. The question is, what are they going to do now . So he got that letter responding letter from the republicans last night with some huge sticking points. Yeah, thats right. Those republicans making very clear that they still have concerns about the size and scope of this 1. 9 trillion package proposed by President Biden. This was after the white house staff actually sent a letter to those ten republicans outlining why they felt every single one of these measures was necessary in this bill. Those republicans making clear theres still other money passed from the 900 billion bill thats been unused and they are pointing the white house to that. So there is no narrowing of that more than trilliondollar gap between the plan by Senate Republicans and the plan from the white house. And with this senate with the senate now passing that budget resolution, this is the clearest sign yet that the white house doesnt need republican lawmakers in order to pass its bill. Of course, they need to keep democrats like senator joe manchin of West Virginia happy and make sure that he will ultimately vote because they cannot lose a single democrat. But nonetheless, the clearest sign yet they can move forward on a Party Line Basis if they want to. At the same time, President Biden has made clear that he would like to see republican lawmakers voting for this package. He is willing to compromise on certain areas but doesnt necessarily need to at this point. Thats why this morning in the next half hour, were expected to see President Biden sitting down with house Democratic Leaders to hash out the way forward on this. Clearly, they are moving forward with this budget reconciliation process. And then later today youll hear President Biden also address the state of the economy. And with this new jobs report showing that while there is more recovery happening, it is sluggish and you can expect President Biden to use that to make the case for the need for this 1. 9 trillion package. Jeremy, during the trump administration, there was consideration of a plan of mailing masks to every american. That was killed in the last administration. Its now an idea again in this one. Will it happen . Well see. The white house Chief Of Staff ron klain certainly indicating its something theyre prepared to move forward with. Just yesterday in an interview with nbc, klain said this was something the Health Agencies recommended to the trump administration. They didnt ultimately move forward with it. But he said that he hopes in the next few days or weeks theyll be able to, quote, announce some progress on this. I can tell you in speaking with a couple of white house officials this is an idea they are certainly considering thats on the table. They see it as a powerful way to send a message about the importance of mask wearing at this point in the pandemic. But they have not yet committed to and they havent made a final decision on that. But its certainly something theyre considering very, very strongly. Jim, poppy . Jeremy diamond, things moving quickly. Thanks very much. Listen to this figure. Its encouraging. Coronavirus vaccinations administered in the u. S. This week outnumbered new infections by a factor of 10 to 1. Thats a big deal. The latest data from the cdc shows the pace of vaccinations is up about 5 as dr. Fauci urges americans to get vaccinated as soon as possible. This is good news. Its good news. Well take it. Im glad you highlighted it. You have nearly 7 million americans that have received both doses, meaning they are fully vaccinated. Thats good. Lets go to athena jones from a mass vaccination event here in New York City at yankee stadium. Who can go there and get this vaccine . Good morning, poppy. Well, this vaccination site, this Mass Vaccination Site will be open exclusively to residents of the bronx. When you come here, youre supposed to show proof of residency. You also are supposed to have an appointment. This site will be opened from 8 00 a. M. To 8 00 p. M. 15,000 Appointments Available over the course of the first week of operation. Were told today there are only 1,000 Appointments Available to kind of a slow ramp up. And officials chose to target the bronx because this is the borough that has the highest rate of covid rate of positive covid tests in the city. Were talking about around 6 uover 6 here in the bronx versus 3. 5 in manhattan. This is also the borough with the highest poverty rate and also has a High Percentage of black and latino residents and poorer residents. Of course, you have to be eligible. Among the group of people who are eligible. Health care workers, people over 65. The city has expanded this to people who work in restaurants and bodegas, grocery stores, transit workers. If youre in the Eligible Group and sewign up and make an appointment, you can come here. There have been people lining up hoping to get a vaccine. Not all of them had made appointments. Some said they werent aware of it. Others said they had problems getting through and working with the system. So you now have two lines separated out. National guard helping the folks who dont have appointments make appointments for another day later in the week. You had a City Council Member who is head of the health committee, mark levine tweeting yesterday they were concerned there were thousands of slots available. That is still true. Last i checked, there were spots available starting on wednesday. So they filled up, up until wednesday. This is so important because its not just about access. Its about making sure people are ready and willing to take the vaccine and we know that theres a lot of distrust of this whole vaccine process among members of the black community and latino community. I myself have had multiple conversations with mayors of black community asking, are you going to get the vaccine . Jim, poppy . Athena, thank you. I hope it helps up there because the rate is way, way, way too high for folks. Thank you. A third Coronavirus Vaccine could be available in the u. S. Within a matter of weeks. The fda will meet later this week and consider Emergency Use authorization for the Johnson Johnson one shot vaccine. Joining us to discuss this, dr. Ashish jha, dean of the Brown University school of Public Health. I want to ask you a question, it relates to the j j vaccine but also news we got about the astrazeneca vaccine. It is that is effective against this new uk variant of covid19 that is more transmissible. Some data, it might be more deadly. Is that The Big Picture here that were seeing the existing vaccines are effective against the new variants . Yeah, so good morning. Thanks for having me on. That is The Big Picture. These variants are concerning. They are, obviously, things we have to keep an eye on. But i believe our vaccines are going to hold up to them. Certainly the uk variant, i have a lot of confidence that all of our vaccines are going to work. The south africa variant will be a little bit the vaccine will be a little less effective, but still, i think quite effective. These vaccines are doing really well. Doesnt necessarily mean that for all future variants it will hold up, but right now things look good. How big of a game changer would the j j vaccine actually available to a lot of americans be, especially since its one shot . Yeah, so i am really excited about the j j vaccine. The data ive seen so far, well have a lot more in the next three weeks when the fda goes through all of it carefully. And i think a single shot is obviously huge to bring people back. And the storage issues here are much, much easier. Essentially have to refrigerate it. The issue right now is that we dont have a ton of the j j vaccines. We dont have as many doses as wed like. Theyre working on it. I dont know that it will make a huge difference in february or march. But options are good. The statistic, we just uttered these words moments ago. Coronavirus vaccinations administered in the u. S. Outnumbered new cases, new infections 10 to 1 this week. Wow. Thats great. You have been consistent in saying, hey, listen, even when the Vaccine Rates look pretty bad, youve been saying its going to get better, is that what were seeing now . We are seeing that. It is getting better. And i think were going to get much, much better yet. Were doing about 1. 3 million a day. A little bit got thrown off a little by the snowstorm. It will pick back up. I would like to get us not just to the 1. 5 million a day that President Biden has suggested that he would like to target. I think we can get to 2 or even better than that. Its going to take work but weve got to do it. And especially with the variants circulating, we have to do it fast. This morning, Amnesty International and oxfam are calling on moderna and pfizer to share their formula basically for their highly effective vaccines with any other company that could make them. And the issue here is especially the developing world. They said you guys are profiting, as every drug company has the right to do, i should note. Its important to have the private sector benefit from innovation. But theyre saying you have to now give these formulas to other manufacturers to make it for the rest of the developing world. What do you think . Yeah, so first of all, i completely agree that we have to get a lot more vaccines out to the whole world. This is a global pandemic. And if we have large outbreaks happening in other places, that puts americans at risk and puts everybody at risk. So i completely agree with that. We have to vaccinate people. If it was as simple as sharing their formula, that would be great. You can also imagine that moderna and pfizer have plenty of motivation and incentive to go Sign Contracts with companies so that other companies can make it. Thats really not the hold up right now. The hold up right now is raw materials, the hold up is the ability, the machines, the factories to make these things. Those are the places weve got to be making investments. And we absolutely have to ramp up production for these things that make it more accessible for the whole world. Thank you, dr. Jha. Always love having you. Have a good, healthy weekend. Thank you so much. We know many of you are wondering, well, im eligible. Where can i get a vaccine . Weve got you covered. Go here. Cnn. Com health. Youll find a link. It will show you where to find the best Vaccine Information in your state. I promise you, this is an invaluable resource. Listen, im going to go there because i need to know the answer to those questions. Sciutto, youre not old enough for the vaccine yet. Closer than id like to be. Still to come Marjorie Taylor greene, conspiracy theorist, qanon congresswoman, will respond later this morning to being stripped of her house Committee Assignments. Shell hold a press conference. Plus, White Americans are being vaccinated at much higher rates than Black Americans. Why is that . And what can be done to overcome this challenge, that is Vaccine Hesitancy in communities of color. Also ahead, democrats are pushing to pass President Bidens 1. 9 trillion relief package. Will they make enough changes, though, to get republicans on board . We will ask a top economic adviser from the white house this hour. Liberty mutual customizes wait. Am i in one of those Liberty Mutual commercials where they stand in front of the Statue Of Liberty and talk about how Liberty Mutual customizes your Car Insurance so you only pay for what you need . Uhhh. Yes. Huh. What happens in this one . Seagulls. Oh, i like it. How are you doing . Seagulls Sounds only pay for what you need. Liberty. Liberty. Liberty. Liberty. Welcome, todays discussion will be around sliced meat. Moms want healthy. And affordable. Land o Frost Premium no added hormones either. Its the only protein ive really melted with. Land o Frost Premium. With so many new pet owners,. Your groomers cant keep up. You need to hire. I need indeed. Indeed you do. The moment you sponsor a job on indeed you get a shortlist of quality candidates from a resume data base. So, you can start hiring right away. Claim your seventyfivedollar credit when you post your first job at indeed. Com groomer this morning qanonsupporting congresswoman Marjorie Taylor greene will respond after being stripped of her Committee Assignments. The house voted in favor of removing her and 11 republicans joined democrats in that vote. Joining us to talk about all of this, Congressional Correspondent lauren fox, Political Commentator alice stewart. Good morning to both of you. Alice, it always strikes me the Secret Ballots in the votes weve seen in the last week are more revealing than the public ones. The Secret Ballot regarding liz cheneys leadership showed broad support for her leadership and, of course, a woman who voted to impeach President Trump. In the public ballots, like on Marjorie Taylor greene, only 11 republicans came out against her there. I just wonder, when you speak to republicans on the hill in private, is it their view that shes more damaging than helpful, in private, even if they wont say that in public . Absolutely. They will acknowledge that she is a brandnew problem for the grand old party. And i spoke with some before republicans cast their ballot on wednesday night and said that her wild Conspiracy Theories are a bridge too far. And something certainly needs to be done. And the problem is, when you get to the point of where you are allowing this kind of behavior, unfortunately, it allows future behavior. The issue is, though they had the opportunity in that closed door meeting on wednesday night to hear from her. And my understanding is she was very contrite. She was very apologetic. She denounced a lot of what she said, and that is what made them make this decision. What i fear is that this is not a job for on the job training. Were witnessing and seeing in realtime someone who is facing a stark Learning Curve as a member of congress, and she needs to be held accountable. Look, what she said and did before she was elected by members in North Georgia is between her and the voters of North Georgia. What she says and does now is subject to the scrutiny of her colleagues in congress. And i think her continuing the false claims of voter fraud are inappropriate and certainly her embracing of these Conspiracy Theories is certainly wrong as well. Lauren, some of the answers to the why, like why did only 11 republicans vote to remove her from committee yet 61 voted to oust liz cheney because she voted to impeach President Trump, may be found in actually liz cheneys statement overnight that i thought was really interesting because she said in the same breath, qanon has no place in this party, but democrats are setting a dangerous precedent by removing our folks from committees and watch out, it could come back to bite you essentially. Thats exactly right. We should note that liz cheney did not vote to oust Marjorie Taylor greene from her Committee Assignments for that exact reason that you noted. And that is something that republicans in congress that i have been talking to over the last week have really been basing their entire decision on earlier today. And excuse me, yesterday. And i think one of the reasons for that was the fact that, yes, they view this as a dangerous precedent. If youre going to hold people to account for what they said before they came to congress, they argue, where do you draw the line . There were some concerns, you know, what if somebody did something in their past . Is that potentially endanger them in their current state as a member of congress . And i think that that question is a real one for republicans. I also think it is a question of whether or not this should have been the decision of kevin mccarthy, the minority leader. And i think a lot of republicans were not happy to walk the plank and take that vote yesterday. In part because you can guess if youre running in a suburban district, there are going to be ads run against you in the future if you did not vote to oust Marjorie Taylor greene. Theyre going to try to tie you to her, and i think thats why a lot of republicans were hoping mccarthy would make this call rather than making his members take this vote. Alice, lets be frank here. Shes a proxy for the 800pound gor gorilla, donald trump, figuratively speaking because hes the chief propagator of conspiracy these are, including continuing to propagate the lie about the election. We have an impeachment next week. His second. Do you see republicans moving on him . A small number willing to move away from greene. Do you see republicans moving away from the president to the point where some might vote to convict . I think the numbers that weve seen are the numbers were going to continue to see as we move to the senate trial. There are a lot of republican senators i spoke with that are just not comfortable with voting to convict him on this. And they say for the simple fact that hes no longer in office. The question with that, jim, is the talking out of both sides of your mouth is the fear of convicting someone of impeachment for a person that is no longer in office for stuff they said while in office. And then we just have Marjorie Taylor greene who they are afraid to take action on her for comments that she has said in office while she is still in office. So you cant have it both ways. I, for one, happen to think the comments that the president did with regard to the Election Fraud certainly is worthy of some type of punishment, and i would not be afraid if senators went for impeachment. Good for you for pointing out that intellectual inconsistency. Alice stewart, not the first one weve seen on capitol hill, and certainly not the last. Alice stewart, lauren fox, thanks very much. The pace of vaccinations is steadily improving. Thats good news. But are officials doing enough to address continued Racial Disparities and access to vaccines and also accepting vaccines . Hi, im a new customer and i want your best new smartphone deal. Well im an existing customer and id like your best new smartphone deal. Oh do ya . Actually its for both new and existing customers. I feel silly. 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A Color Blind Approach to Vaccine Distribution will no doubt prove catastrophic. Isnt it already proving catastrophic . What we saw and what weve been seeing in the pandemic is these incredibly deep health inequities. Were seeing black communities Disproportion Atly impacted. We saw that at the beginning of the pandemic and were seeing that now. We saw this early data, even though only 23 states are reporting racial and ethnic Demographic Data on vaccinations. We were very concerned about this early trend that were seeing and we wanted to provide four important points for how the Biden Harris Administration can course correct. Before i say anything, first of all, kudos to both of you. Great to see sisters working together on this. Dr. One, what portion of this based on the data is access versus hesitancy, right . How powerful a motivator is hesitancy among black communities in terms of standing in the way of widespread vaccination . You know, its likely that this is multifactorial. We do know that Medical Mistrust results from both present day and historic racism and that people have justifiable concerns around the safety of the vaccine. But this is so systemic as well that access is likely a huge issue. We know that there have been challenges with online registration, phone lines being clogged up. So we need to ensure that we are having a streamlined approach but also doing direct outreach with trusted Community Members and messengers to facilitate language to vaccine appointments. Thats such an interesting and important point you make in the piece. Building on what your sister just said, the Biden Administration has appointed dr. Marcella nunezsmith who is a black woman, to lead on this front. To lead on the equity task force. I know you write in here some recommendations for the whole team but specifically how effective can she be in being that messenger and that voice and helping shape policy and distribution . Well, she can be incredibly effective. We actually know her well and we respect her work, admire her greatly. President biden chose the right person to lead the Health Equity task force. Shes also going to need the resources and support to execute a Health Equity strategy as it relates to the covid19 pandemic. We need the funding to ensure it goes to state and local Public Health departments and that they use that to partner and connect with communitybased organizations. And thats really where the work of Vaccine Distribution happens and can be successful. Dr. Oni, the thing about this, right, is that for vaccinations to work it has to be widespread. You dont get the country to Herd Immunity unless you have broad access, regardless of race or income, right, which is another disparity here. And i just wonder, do you see the Biden Administration, right, doing the right things to get over that, right . Yeah, so broad population is our goal and in order to get that that point we want to make sure all groups are vaccinated but particularly those individuals in those populations that are most at risk for acquiring covid19 and we know the black community is, latino and Indigenous People are as well. So much more needs to be done. We need a policy that is not race blind or color blind because this virus is not impacting all groups equally. What are we missing here, dr. Blackstock . Whats the media not talking about enough on this front . Well, i think the way that were framing this way of Vaccine Hesitancy has to change. I talk about other colleagues talk about institutional trustworthiness and what that looks like. And i think that there are a lot of Community Members that are willing to take the vaccine. They just need information to be presented to them in a clear, digestible way. They need to see some investment or resources in the community. And that looks like engaging with trusted messengers, having accessible Vaccination Sites, not just in, you know, large stadiums but also mobile Vaccination Sites or people going door to door using Community Health workers who know the community quite well. So its really about being innovative and thinking about how can Health Care Institutions show these communities that have been disproportionately impacted that they do care and are willing to put in the resources to correct past wrongs. Thats the issue, right, because you have a loss of confidence in institutions. Hesitancy, you know, it extends across communities, right, when you look at some of this public polling. Sorry, dr. Oni, i didnt mean to interrupt. Yes, exactly. Medical mistrust is its really a symptom of these deeper issues around systemic racism that impact black communities. Obviously, latino and indigenous communities, but a sole focus on Vaccine Hesitancy is somewhat of a distraction and we need to make sure this vaccine roll out is done in a way that ensures the vaccine is accessible to black people and also that its delivered in a way that is culturally responsive and by individuals in the community. We are so glad to have you both on, doctors. Thank you very much. Thank you. Thanks for having us. President trump is now rejecting democrats invitation to testify at his upcoming Impeachment Trial next week. Will democrats subpoena him . The holidays werent exactly smooth sledding this year, eh santa . No, but we came through smelling of mistletoe. The now platform lets us Identify Problems before they became problems. If only it could identify where my ball went. This you . Hmm. No, mine had green lights. Whatever your business is facing. Lets workflow it. Maybe i should workflow my swing. Servicenow. Welcome, todays discussion will be around sliced meat. Moms want healthy. And affordable. Land o Frost Premium no added hormones either. Its the only protein ive really melted with. Land o Frost Premium. Fresh look. Same great taste. Priceline works with top hotels, to save you up to 60 . These are all great. And when you get a big deal. You feel like a big deal. Priceline. Every trip is a big deal. President trump invited to testify at his second Impeachment Trial. He says he will not. The former president s attorneys quickly rejected the Impeachment Managers request for his testimony. But its possible the former president may not ultimately have a choice in the matter. Lets speak now to what the law says. Elie honig is the former District Attorney for the Southern District of new york. Congress has the option of subpoenaing the president , but i wonder, do subpoenas hold water anymore . Congressional subpoenas given the trump administrations defiance of them in the previous impeachment . Good question, jim. First of all, the decision whether to issue a subpoena is obviously a very important decision, but its also a twostep process. First, the house Impeachment Managers who are essentially prosecuting this case, led by representative jamie raskin, they have to decide that they want to seek a subpoena. But thats not the end of it. They dont necessarily get to do whatever they want. Its up to the senate. Now if we remember last year during the ukraine impeachment, the senate was republican controlled at that time. The republican majority basically decided we dont want any evidence, no subpoenas, no witnesses. Now its a Democraticcontrolled Senate but that does not mean theyre going to give the Impeachment Managers everything they want. The democrats in the senate would have to all agree, yes, well issue this subpoena. Its not clear theyd do that. Senator chris coons and others have expressed some hesitation about subpoenaing the president. So thats all necessary before we even get to the question of a subpoena. Well, if they did, its pretty likely, maybe you think, that he would plead the fifth, which would just be interesting given what he said about people who plead the fifth. Yeah, we all remember that President Trump said only guilty people plead the fifth and thats only for mobsters and mob bosses. If a subpoena does issue to donald trump, thats an aggressive move and it puts trump in a tough spot. He has three choices. One, testify. I cant see any responsible lawyer permitting that. It would just be incredibly dangerous to trump himself. Two, he can fight it in court. That would probably delay the proceedings. I dont think anybody wants that, and i think hed clearly lose in court or he can take the fifth, but i think President Trump would be reluctant to stand up there and take the fifth just because it looks so bad if he were to do that. Can you help clear up something for me and maybe for people watching here. We had that vote in the Senate Last Week in which 45 republicans said, or seemed to say, even trying him is unconstitutional because hes out of office. Since then ive spoken to a couple of republicans who voted for that and they say thats actually not what we voted for. Portman, cassidy said that was just to open debate on the question and that their minds are still open. Legally, are their hands tied in any did they vote for anything by saying its unconstitutional . No, jim, their hands are not tied. Its important we correct this. Theres a misimpression out there being spread by Donald Trumps team. They declared 45 senators have already voted this is unconstitutional. Not so as the guests you referenced said. What they voted back last week was, lets have the debate about constitutionality now. Lets have that debate. 55 voted no. And so the motion got tabled. It got killed essentially. Senators like portman and thune and potentially others have made very clear that was not our end vote. We still can, and they legally can, vote guilty or not guilty in the end. Right. Elie, thank you. This all starts tuesday. We appreciate you. Have a good weekend. Thanks, poppy and jim. The path to push covid stimulus relief through without republican support has been started and cleared the first hurdle. A critical white house meeting is taking place right now. The question is, what does it all mean for you . A member of the president s Economic Team is with me next. And build a straightforward plan to generate income, even when youre not working. A plan that gives you the chance to grow your savings and create cash flow that lasts. Along the way, well give you ways to be tax efficient. And you can start, stop or adjust your plan at any time without the unnecessary fees. Talk to us today, so we can help you go from saving. To living. New projects means new project managers. Talk to us today, you need to hire. I need indeed. Indeed you do. The moment you sponsor a job on indeed you get a short list of quality candidates from our resume database. Claim your Seventy Five Dollar credit, when you post your first job at indeed. Com home. If you smell gas, youre too close. Leave the structure, call 911, keep people away, and call pg e right after so we can both respond out and keep the public safe. If you see wires down, treat them all as if theyre hot and energized. Stay away from any downed wire, call 911, and call pg e right after so we can both respond out and keep the public safe. Welcome back. This hour, President Biden meets with Democratic Leaders. Covid relief can now happen without republican support, but is that the way this is going to go or will it be more targeted and will they get republicans on board to make it bipartisan. Ge Jared Bernstein is with me. When they crossed that first hurdle toward reconciliation, 99 senators said they want something to change. That is that they want not the upper income folks to get any of this relief. So does that mean you guys are going to change that, or are negotiations over and youre pushing forward with reconciliation . These are ongoing discussions. As jen psaki said yesterday, the president is very firm on making sure that people who need these checks get them. And checks in the amount of 2,000 when you add in 600 from the last plan. I think the discussion is around whether parameters change at some of the targeting moves around. Thats an ongoing discussion as we speak. The really big problem we saw in the jobs report this morning is that there are a lot of folks still out of work. Its like 9. 9 million and the pandemic, 5. 2 million women. Stimulus and onetime checks doesnt put them back to work. I wonder would it not beto incr unemployment assistance benefits or uia aid every month until you get vaccinations up to a certain level. Wouldnt more aid help more than a Stimulus Check . Well let me start by going over the Labor Market News because it is really important and i suspect people havent had a chance to fully absorb it. This mornings job report shows that the u. S. Labor market has stalled in terms of job creation. Last month was 49,000 overall. That is a low number for payroll job gains. But if you look at the private sector, it is only 6,000. That is essentially zero. If you look over the past three months and average, because we have ups and downs and volatility, youre talking about 29,000 jobs on average over the past three months, again that is a stall. Especially when you compare it to the 1 million jobs per month in the prior three months. This is a job market that is calling out for the magnitude of intervention in the American Rescue plan. But your point is well taken. If we simply provide people with the relief they need to get through the crisis, were definitely helping them and that is essential, but we also have to attack the pandemic itself. And in my view this is at the heart of the arp, of the rescue plan. That Virus Control and Vaccine Distribution. As you know, the joint crisis of the health care and the economic crisis are the target of this plan. I know. But im just saying, why are you guys not increasing the ui for months we are increasing the ui. I know you are. 400 a month until september. But you are not tieing it to vaccination rates. That might make the most sense because that is when people are going to go back to work, no . I think that is important. But also i think that is there is a lot of thinking that somehow if youre not unemployed, if youre employed youre doing okay and you dont need help. But that in my view i dont think that. Okay. Good, im glad you dont think that. If you recognize that, then you recognize that getting people to checks that may have been working and may have lost hours or accumulating mortgage and rental debt and that is why those checks are important. I want to raise a missing elements that could help a lost americans here. As you decide on this, larry summers, your friend, you worked with him for a long time, he has some pushback here. He writes in the Washington Post the proposed Biden Stimulus is three times as large as the projected shortfall and warns of two big things, Inflationary Pressure of a kind weve not seen in a generation could come because of this plan for consequences of the value of the dollar and financial stability. Are you sure hes wrong . I think hes wrong. I think he is wrong in a pretty profound way about that about that claim in the following sense and there is a way in which larrys offering a warning that weve already heeded. So let me get into this a little bit. Where i very much disagree with the thrust of the argument is that we have to go big and bold here to finally put this crisis, to finally put this virus behind us and to finally and reliably launch a robust and inclusive and racially equitable recovery. We have consistently said that the risks of going too small are much greater than the risks of doing too much. Now, that doesnt mean there are no risks engaged in the kind of work that were doing because that is always the case in an economy. But what larry is warning about Inflation Overheating and right now we have inflation below the feds target rate of 2 for well over a decade. And so we also have tremendous unused capacity in this economy. We have black and hispanic unemployment rates around 9 . We have 10 Million People unemployed. We have 2. 5 million fewer women in the labor force who havent counted in the unemployment rate. I know. Because of their responsibilities. So wait, let me just finish, poppy. Sure. It is all of that capacity that the American Rescue plan plans to get back online into this economy primarily through controlling the virus and distributing the vaccine and providing the people the relief they need to get to the over side. That is not overheating. It doesnt mean there wont be some heat. And where larry got it wrong, is suggesting that the administration was being dismissive of any Inflationary Pressures. I dont think he was writing i knew it would not make you happy. Hes your friend and and he also said some positive things. I think it is important to address. Final question for you. The numbers this morning were tragic on the job front, i think. Weve still got 40 of the unemployed, longterm unemployed and you know those University Of Chicago economists who said 42 of the jobs that were lost will never come back. A Stimulus Check will not help them. Ui will run out. What is the biden plan for the permanent job loss . So, that is a very important point that you just made. That number is probably not as well known as it should be. 40 of the 10 million unemployed, so about 4 million unemployed have been so for six months or longer. That is a highly elevated level and represents a shift as your question suggests from temporary into permanent layoff. So people need relief to get to the other side of the crisis and that is very much part of the plan. But we also have to make sure that our businesses have the support that they need to get through this. There are many economically viable businesses and many entrepreneurs of color who havent gotten the assistance that they should. We have to make sure that stays in tact. And on the other side of the virus we get to the Building Back agenda, Building Back better agenda as per a robust and racially equitable recovery. Were up against a break. But come back and well talk about what to do big picture for the jobs that are never coming back. Good luck, jared, thank you. Thank you. All right. Well be right back. Welcome, todays discussion will be around sliced meat. Moms want healthy. And affordable. Land o Frost Premium no added hormones either. Its the only protein ive really melted with. Land o Frost Premium. Fresh look. Same great taste. Oh, you think this is just a Community Center . No. Its way more than that. Cause when you hook our community up with the internet. Boom look at ariana, crushing virtual class. Jamol, chasing that college dream. Michael, doing something crazy. This is the place where we can show the world what we can do. Comcast is partnering with 1000 Community Centers to create wifienabled lift zones, so students from lowincome families can get the tools they need to be ready for anything. Oh were ready. Good morning, top of the hour. Im poppy harlow. And im jim sciutto. Happening right now, a major meeting at the white house
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