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tv   Hallie Jackson Reports  MSNBC  January 26, 2022 12:00pm-1:00pm PST

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breaking right now, the news you saw here first. justice stephen breyer retiring from the supreme court. we have new reaction. and an official retirement coming. >> there has been no announcement from justice breyer. let him make whatever announcement he's going to make. >> we'll talk about the short list of nominees. and senate democrats already promising a speedy confirmation
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process. that confirmation will be with us, elizabeth warren. and fed chairman jay powell speaking now. what this means, and what this says about the economic recovery in our country. i'm halley jackson, along with pete williams, kelly o'donnell, garrett hake, eugene robinson, melissa murray, and a former clerk to justice sandra day o'connor. i'm glad to be with all of you. i want to set up how this is going to go. there is a process that will need to unfold as it relates to
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the retirement of justice breyer. the justice needs to announce the retirement officially. then president biden will lay out who he would like to choose to replace the justice. then, the ball goes to capitol hill with back and forth on the senate. we know there will be a bunch of meetings with senators, there will be a hearing with the judicial committee, then they vote to send the nominee to the full senate. that only needs a simple majority. if it's tied, it can be sent to the full senate. then a final confirmation vote with 100 senators, then it only takes 50 plus 1 vote. what is a typical timeline? on average it takes two months
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from a justice announcing the retirement to the final senate vote. justice barrett only waited 27 days, right before the election. it took clarence thomas 100 days back in 1991. so the official announcement, do we know any more on when it's coming, or why he's making the decision? >> on the when, i understand thursday or friday. the plan was to send a letter formally to the white house tomorrow or friday. although they certainly knew what was coming, i don't believe they were caught off-guard by this. they seemed to know things were going to be going in this direction according to people close to the justice. that starts the process. there may be some sort of formal recognition on his career from the white house.
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then generally, the only thing i would add, the white house usually waits a while before a formal nomination or announces the intent to nominate. they will put out or friends will put out who the white house is considering. and they let those names float out there a while, to see what the response is before the formal intent to nominate. then the process starts with the nominee walking the halls of congress and trying to meet as many members of the senate as they can. as to why, the other part of your question, remember that justice breyer was under enormous pressure after ruth bader ginsberg died while donald trump was in office, he was under enormous pressure to step down while democrats were still in the senate. i think the calls last term sort
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of stiffened his spine that he didn't want to leave yet. but i think he feels that now, he's 83, this is the time for him to step down. >> kelly, i want to turn to you here. if there was any question whether president biden intended to make good on his campaign pledge to nominate a black woman, jen psaki has just confirmed the president's intention. >> she went to great lengths to say nothing else about what is happening with an apparent vacancy. wouldn't talk about general terms for how the white house, even in advance of any knowledge of justice breyer's plans, how the setup had been internally, or the universe of possibilities within the biden white house. nothing else would she entertain except to reiterate that the president would like to see a black woman nominated for the
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supreme court if the choice is his. here's how psaki handled it. >> the president has stated and reiterated his commitment to nominating a black woman to the supreme court. and certainly stands by that. for today, again, i'm just not going to be able to say anything about any specifics until justice breyer makes any announcement, should he decide to make an announcement. >> included in that, halley, she was asked when the last time the president and justice breyer may have spoken. she declined to comment on that. and pete can tell us the process, but i remember from other times, usually the head clerk would deliver the letter formally to the white house in addition to any phone call that might happen between the justice and the president. lots of details, lots of
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traditions involved in this process. certainly, joe biden, who had been on the judicial committee, wants to let some of this play out. even if the force of news in our modern era wants to play forward. for those who aren't as tuned in to what is happening here, if the justice were not going to retire, we would have heard that by now. there are many ways for him to say, oops, that is not correct. >> credit to pete williams for that one. and you've got the supreme court term that has to play out. there are a lot of consequential decisions, abortion rights, affirmative action. breyer's announcement doesn't change what he's already talked about with the justices and any
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decisions. >> absolutely right. it doesn't affect the current term at all. in the past, justices seldom timed their retirements to the political calendar. but those were the good, old days. and justice breyer understands how the process works. he was a staffer on the senate judiciary committee. he knows the town, how things work. i think we should say that he probably was thinking about all of this. and it doesn't appear to be a retirement based on health. he is 83, but from what we know, he's in good health. he was one of the most productive members last term, and he will still be around to decide on the big challenge on roe v. wade, questions on gun rights, religious freedom. this is one of the most consequential terms in decades.
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and it's not clear whether his intention is to step down when the last decisions are announced in june or july, or whether he'll stay until his successor is nominated or confirmed. >> garrett, i want to turn to you. there is new reporting in to us from you and your colleagues in the last maybe 2 1/2 minutes or so, and it has to do with the timeline. there are faster timelines for the nomination to confirmation process, and slower timelines. you're learning that senate democrats want to get on the faster side of things, the 27-day period, they're hoping to replicate something similar to the nomination of amy coney barrett. >> yes, they want to get it through the floor and on to the
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bench. there's nothing republicans can do in a 50/50 senate to stop this confirmation, if all democrats stick together. but there's plenty they can do to slow it down. and anything that moves slowly gets a little bit more challenging to do in a 50/50 senate. all it takes is another covid case. the democrats will do everything they can to avoid that. as soon as the president names a name, i expect we'll see the formal process begin very quickly. democrats want to try to aim at that roughly a month threshold that we saw with amy coney barrett. >> and we've talked about how the press secretary has reiterated the president's college to choose a black woman to fill this eventual opening. here's what he said on the campaign trail in 2020. >> i'm looking forward to making
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sure there's a black woman on the supreme court to make sure -- not a joke. not a joke. i pushed very hard for that. >> you have two names reportedly floating around the top of the president's list. judge jackson and judge krueger. tell us more. >> judge jackson was just elevated last year, she's a former breyer clerk. so the optics of that could be quite appeals to the white house. for example, brett kavanaugh was a former clerk to justice kennedy, and replaced him. judge krueger is an associate justice of the california supreme court. former clerk to judge stevens. so i expect she would have no problem getting through the judiciary committee. a wild card would be sherrilyn
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ifill, and there's been lots of discussion about the fact that there hasn't been a civil rights lawyer on the court since ginsberg and marshall. >> and the 115 justices that have been seated on the supreme court, only six of them have not been white men. it would be a significant and historic moment for president biden to make this move. >> indeed. and i've been thinking since this announcement about what justice ginsberg said when she was asked, how many justices ought to be women out of the nine on the supreme court, and her answer was always, nine. >> it's accurate, you know? can you talk a little bit more,
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if you can, about the transition process that you've had a chance to see somewhat firsthand yourself, when a justice retires and another comes in? >> indeed. there have only been 115 of them. even though it seems that there's been a lot of turnover on the supreme court recently, these moments are actually pretty rare. i was a law clerk for justice o'connor when she made her announcement to retire. in that case, back in 2005, pete williams did not scoop the justice. so through the ordinary course, she sent a letter to the president, hand delivered. that is when everybody found out, including her colleagues on the supreme court. drawing from that experience, i'm going to be interested in the exact wording of justice breyer's letter, if he's going to put one out. justice o'connor said her
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retirement was effective upon the confirmation of her successor. sometimes strange things happen. judge roberts was nominated for her spot, and chief justice rehnquist died, and then he was nominated for that spot. justice o'connor wound up working for another seven months on the supreme court after she sent that letter. the timing does matter because as we've been talking about, the court sits in these fixed terms. and justice breyer is in the middle of some work. the best thing for the court would be if a new justice could come on in order to be ready for the new term next year. >> eugene, i want to turn to you on the more political piece of this. this is an opportunity for president biden to make what would be a significant generational choice here, right?
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likely somebody, as we look at these picks, somebody who is younger, who would be on the court for decades to come. and when it comes to the democratic base, we've covered it on this show, there has been in some lanes, in the progressive lane, this push to get justice breyer to do what we anticipate him doing, retiring. groups on the left have said, it is time while democrats have power. and making the choice, when he has faced headwinds on where the economy is, inflation, the fight against the pandemic with the omicron surge lately. when you look at the approval ratings, the latest one at 39%, the potential political piece that plays out for the president, tell us about that. >> one thing the president hasn't had a lot of trouble with or pushback on is his judicial nominations.
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he's confirmed 41, i believe, federal judges in the first year of his term. that's more than any other first term president. and while he has had trouble rounding up the 51, if you count vice president harris, votes he needs in the senate for some of his economic programs, and for voting rights, for judicial nominations, he hasn't really had difficulty getting the votes. he hasn't had trouble getting joe manchin's vote, kyrsten sinema's vote. you never say never these days in washington, that problems won't arise, and the unexpected will always happen. but right now, it doesn't look like there's any necessary problem. now, there could be a tie vote
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in, i suppose, in the judiciary committee. but chuck schumer could bring the nomination to the floor anyhow, and it looks like they would have the votes to approve a qualified nominee. the potential justices who have been named, judges jackson and krueger, that's everybody's consensus top two picks are eminently qualified to serve. and they're both in the right age range. they're both relatively young, very young for a supreme court justice. and would get to serve on the court for decades. and now, does this change the ideological balance of the court? absolutely not. it maintains it. there is still a 6-3 conservative majority. arguably reactionary majority on
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the court. and that will remain the case. but at least it won't, from progressives' point of view, it won't get worst. >> we are expecting to learn from senate majority leader chuck schumer. he's in new york, and folks are scrambling to hear what he has to say. democrats would like to move very quickly on this nomination, once we have the official announcement from justice breyer, and president biden makes his selection. can you talk a little bit about what could potentially be a wrench in this, which is, democrats have to be united. it's 50 plus 1, so you need all 50 democratic senators onboard. chuck schumer has not been able to do that on other issues. do you get the sense that senators manchin and sinema will back these picks? any sense of that at this
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moment? >> yes, as eugene is laying out, the president has had no trouble getting his justices confirmed. he's on a record-breaking pace, and neither manchin or sinema have voted against them. it's rare you see significant intraparty fighting over justices. you had susan collins feel off over barrett, but that was because she didn't like the process to get it done before the 2020 election was decided. the usual speed bumps aren't as likely to be a problem here. i hesitate to say completely that they won't be. the bigger risk is something unforeseen that slows the process down. if you have somebody go out with covid for a month, and then the committee can't move a nomination, or if a single
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democratic senator is absent for a significant length of time, keeping all 50 butts in all 50 seats will be part of chuck schumer's challenge for the next few months. >> we'll go live to that the second it happens. kelly, can you give us any insight into how much headspace president biden has put towards the short list of potential nominees? presidents spend a lot of time consulting, and we know he had been consulting about that list even before taking office. >> certainly he's spent some time, because he's formed the list for nominations that have already gone forward. and he's had good success with that. what will be interesting to
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know, once this is all public, will we learn going backwards, when was the president notified, has he had conversations, and one of the things we've observed, the president has had a very light public schedule this week. which i interpreted as having to do with ukraine and russia. could it have also been that the president was aware of these events? i don't know the answer to that. but i always like to look backwards and try to figure out, when was the president alerted about something? certainly the president has also been dealing with covid, with the economy, with the reset for the second year of his term. the big speech called the state of the union is coming up. this will have an impact on that. so the president's time, and i always look when i'm leaving the white house, is the marine still there late in the evening? the president's workday typically a long, full workday. is there time to deal with these
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issues? he certainly has staff he can task with working on these lists, and helping to present these lists of options. he's said he will pick an african american woman, and that would be hard to imagine he would stray from that after making such a public declaration. so it will be interesting to see how much time he's had to put on this so far. it also seems, and garrett, i think, will follow this very closely, how much space is there for the updated, chunkified build back better effort while the senate will be consumed with an important confirmation process. so the president may gain something and lose something within the next available space for legislative and confirmation duties of the senate. but in terms of a legacy play,
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this is an important moment for the president, and something that will last long beyond whatever time he has in the white house. >> i'm about to come to you for final thoughts, melissa. but garrett, can the senate walk and chew gum at the same time? >> i think it might be a good thing to get the spotlight off of build back better for a little while. manchin and sinema aren't on the judiciary committee. unless they decide to interject themselves into this process, getting the spotlight off of them for a while may be the kind of space that's necessary to get that process moving again. >> melissa, final thoughts from you? as eugene has noted, if this goes as expected, the ideological makeup of the supreme court will not change. but to democrats, this is still
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an important moment. >> it's an enormous moment, especially for black women, the idea of being on the court is huge. and the one justice who consistently raises race on the supreme court is clarence thomas. he often does so from a conservative perspective. it would be really interesting to have another jurist who can speak to the african american experience that is different from justice thomas' perspective. >> thank you all for being an incredible megapanel here as we've been juggling this developing news. more on this coming up. we're talking with a former clerk to justice stephen breyer. but first, other breaking news on your money. the fed laying out what could be an aggressive path for interest rate hikes soon. we're going to talk about what it means for you. and later, live reaction to all of it from massachusetts
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senate elizabeth warren. our team is also live in ukraine with what we know about the u.s.' response to russia. lots going on. stay with us. lots going on. stay with us
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we got more breaking news now on your money and the possibility of interest rate hikes. that's because as we were coming on the air, we heard the fed chair jerome powell making an announcement that is not shocking, but is still significant. saying the fed is getting ready to raise rates probably in march. >> in light of the remarkable progress we've seen in the labor market, and inflation well above the 2% goal, the economy no longer needs sustained support, and it will soon be appropriate to raise the federal funds rate.
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>> we'll translate in a moment. but the stocks turning a little bit lower after as you know a roller coaster ride this week. i want to bring in stephanie ruhle, also joined by ron insana. i'm thrilled to have the both of you. if there's a pair of people who will explain what this means, it's the two of you. steph, take it from fed chair-ese to normal speak. the rate hike is going to happen in march. >> in the short-term, it means that the economy is in recovery. so we don't need all of this life support from the federal reserve. and we can start to have rates go up a little. so, yes, if you want to go out and get a mortgage, car loan,
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rates will go up. but the goal is to raise rates, which will slow down inflation, and while you may not like it in the short-term, rates will only go up a little bit, and up unfortunately, inflation has been going way up. if you have a fixed rate mortgage, you should refinance right now. >> ron, if you're saying inflation is kicking my butt, this move is intended to bring that down. how long might that take before we start seeing the impact of
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that, if and when the fed raises rates in march? >> the fed chair pretty much admitted they would raise rates in march. that would go from roughly 0% to about a quarter percent. given that the economy is at full employment, they've met the criteria they have for their dual mandate, full employment and stable prices. they're going to raise rates until inflation comes down. inflation is being driven up by a shortage of goods that were interrupted, or the shipping of which was interrupted by the pandemic. that will start to ease, and that's separate from what the fed is doing. but they could be raising rates all year long in quarter point
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increments. >> steph, the markets, we talked about what is happening today. we've seen this stomach-churning rise -- >> including today. we've had a nearly 800-point turnaround on the dow. >> what should people do? if you're investing in the long term on a 401(k), you should not freak out. >> panic is not a strategy, yes. a lot of this depends on age. but historically, when the fed starts raising interest rates, if they're intent on slowing the economy to a certain degree, and killing inflation, it's not the most positive environment for the stock market. so we'll probably have to endure a relatively noticeable correction, because the fed is less friendly than it has been over the last nearly 24 months. it just is what it is. doesn't mean that in ten years the market won't be higher.
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but we'll probably suffer a bit because of it. >> go ahead, steph. >> but a correction is not a crash, right? when you have rates at 0%, stocks are the only game in town. people can't make any money investing in bonds or having money in their savings account. so they pour their money into the stock market. what the fed has done is taken away this safety net, and people who are invested in the stock market need to remember, oh, it doesn't just go up. it also goes down. and that's normal market action. sorry, kids. >> stephanie ruhle with the reality check. >> and we have a group of young investors who have never experienced this before. this will be a little gut check for them. the millennials playing with cryptocurrencies and nfts. some are down 70%. and when the fed is going in this direction, it's harder for
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the stock market to make the type of headway we've seen over the last several years. >> the ron insana/stephanie ruhle tag team act, thank you. lots of developments from the markets this afternoon. thanks, gang. more developments overseas coming in with the u.s. formally delivering its written response to russia. the secretary of state describing this as a serious diplomatic path forward. here's a little bit more about what the u.s. is trying to do with ukraine. >> we've lined up steep consequences should russia choose further aggression. we've stepped forward with more support for ukraine's security and economy. and we're united across the board with our allies and partners. >> and you saw the press secretary outlining how we're
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backing up ukrainian forces. >> some of this is lethal assistance in the form of javelin anti-tank forces. >> richard engel joins us. what else do we know? >> reporter: the russian reaction so far has been consistent but we heard it from sergei lavrov today. russia says it's merely acting to defend itself. that this military buildup is in response to the west. he called it from the hysterical statements from western leaders threatening to attack russia. threatening to impose punishing sanctions. a lot of the statements that have been coming out of the u.s. and coming out of nato are being presented this way in russia. if you can imagine, if you take
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all the statements that have come from the secretary of state, president biden, and other european officials, and you edit them together, the u.s. could be made and other countries could be made to sound as if they're making threat after threat against russia. that they're sending troops here, and that's the way russia has been presenting its case to its own people. according to polls in russia, the russian people seem to be believing this argument. here in ukraine and in europe, it looks obviously very different. like vladimir putin is preparing for some sort of military action, and he's trying to cover his tracks through military drills. today, there were more military drills in the black sea. there have been military drills in belarus, and they're expected to intensify next week, bringing
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in s-400 missile systems and russian fighter jets. i've been told there's 112,000 to 120,000 troops stationed on three sides of the border, and perhaps many more are coming. the diplomatic paper always was a bit of a non-starter. diplomats were dismissive, it was something that russia was insisting on. and u.s. diplomats were calling it a non-paper. but russia wanted written responses from the united states, and today they got them. they fell far short of meeting putin's demands that nato go back to what it was before the collapse of the soviet union and vow never to include ukraine. so it was a non-starter to begin with. now russia has a written piece of paper it can also show its
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people, look, the u.s. has rejected our demands, and we're under threat. >> richard, thank you very much for that. appreciate it. still ahead, the number of house democrats heading for the exit climbs to 29. with the latest person to make that announcement accusing state republicans of dismembering his district. i'm going to ask him about that, when congressman jim cooper joins us live. joins us live. it's how some people describe... shingles. a painful, blistering rash that could interrupt your life for weeks. forget social events and weekend getaways. if you've had chickenpox, the virus that causes shingles is already inside of you. if you're 50 years or older ask your doctor or pharmacist about shingles. ♪♪
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turning now to some other retirement news, this time hill-related. yet another democrat choosing to step down. we're talking about congressman jim cooper. after 16 terms, announcing he will not seek re-election because of the redistricting in tennessee. accusing his state's general assembly of dismembering nashville. saying that he explored every possible way including lawsuits to stop the gerrymandering. now, the district has been split into three different districts. giving republicans the edge in all of them.
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by our count, cooper is the 29th house democrat to announce they're retiring or running for another office. steve kornacki joins me. can you talk about the factors in the wave of retirements? >> 29 total for the democrats, 21, this is what we've got here, who are retirements, who are not running for another office. they're just hanging it up. 21 democrats who are doing that right now, 6 republicans who are doing that right now. there are three things that are going on here to explain the imbalance. number one, it's a redistricting year. lines are being redrawn. the census, the new data comes out, lines are being redrawn state after state. and jim cooper, there he is, that's a case of just redistricting, the lines were drawn unfavorably for him. that's what happened there.
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you've seen an example of that on the republican side. adam kinzinger in illinois, redrawn by democrats in illinois. he didn't get a good deal. that's one of the things that happens in redistricting. but the imbalance has more to do with the political climate. some members facing in a political climate where joe biden's approval numbers are fairly low, with midterm elections historically not going well for the white house party. you have some members who are facing potentially difficult re-election campaigns. or you have members who would likely win re-election, but they're looking at the prospect of, hey, this is likely to be a republican house next year. democrats will be in the minority. maybe they reassess a little bit, and don't want to serve in the minority as much as the ma
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majority. democratic retirements are vastly outpacing the republican announcements. in 2018, it was the republican announcements vastly outpacing the democratic retirements. republicans probably sensed what was coming in 2018, and maybe some democrats are fearing something similar may be happening to their party in 2022. >> steve, great breakdown, thank you so much. joining me, fresh off of that retirement announcement, tennessee congressman jim cooper. thank you for being with me on the show. >> good to be with you, and i always love steve's analysis. >> can you tell us why you decided not to run for re-election? tell us more about your thought process. >> i've been one of the more popular people in all of tennessee history at the polls. but gerrymandering is killing
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the district that has been nashville for 230 years. nashville has never been seriously divided before. but now it's cut into three parts. all given solid republican majorities. and dominated by outlying rural counties. that will really kill nashville's identity. that's a shame, i tell everybody, if it ain't broke, you don't fix it. and our legislature has needlessly interfered, all for partisan gain and greed. >> folks are wondering, what can democrats do to stop that? did you give any consideration to waiting until the legal process played out? >> i thought that would be selfish. i doubt that any lawsuit can succeed. i've looked at it pretty closely, i'm a lawyer myself, had a hard time finding a lawyer that would take the case.
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nashville is not memphis, the republicans know what they're doing, and they're very artful. democrats like to gerrymander, too, but john ryder has paid special attention to tennessee. there are no emails or written record of what they've been up to. >> have you heard back from anyone in the district? >> i've been drowned with pies, cakes, telephone calls, letters. i've been at it a long time. i've represented tennessee, and it makes me sad to see them treated this way by the legislature. mistreated this way. voters should pick politicians, politicians should not be
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picking the voters. that's what gerrymandering is. this is a textbook case that will really hurt nashville's identity and prospects. so many companies and people have relocated to nashville because they want a political choice, it's the competitive two-party system that has built america. and we're andrew jackson's home, the co-founder of the democratic party. now they're doing all they can to really kill nashville for at least ten years, if not longer. >> steve showed that list of democratic colleagues of yours in the house, who are choosing to retire or run for a different office. that list represents collectively something like hundreds of years of experience in the chamber. do you worry that the future of the house may have less experience, may be less prepared with your and other departures? >> i worry about that with both
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sides of the aisle. i'm a blue dog democrat, i can function and succeed and help my people even in a republican controlled congress. these trumpers are a different case. but i try hard with with every. we are here for common good and too many republican colleagues have gone way, way right and they're hurting the country with their plots and their schemes. >> congressman jim cooper, i'm grateful for your time this afternoon. thank you. we want to get back to the retirement of breyer. chuck schumer will be speaking live. i think we have that now. let's listen in for a minute. now during the campaign president biden stated that he would choose a black woman as his choice for the supreme
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court. and i expect he'll follow through on that. in the senate, we want to be deliberate. we want to be -- well, let me just say that again. okay. in the senate we want to be deliberate. we want to move quickly. we want to get this done as soon as possible. thank you. okay? that's it. no questions. no. no. >> okay. a short news statement. not a news conference but a statement from chuck schumer who's reiterating what we have heard so far which is the senate will be as you heard him say deliberate in the process of confirming whof president biden picks to replace the retishs justice breyer. he's not made that statement publicly but people familiar with his thinking telling pete williams that's the case. i want to bring in someone that knows him well. a former clerk for justice
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breyer. lisa pressman. you knew him and clerked for him. there's a small group that had that -- distinguishable to do that. how hard a decision do you think this was for him? >> i don't have inside knowledge at all. i heard about this retirement or the prospective retirement walking out of my class and still waiting for confirmation i was excited to celebrate his career. i think that's just the amazing contribution he's made to this country. he's someone who's devoted so much of his life to the law and the bench. for me personally i clerked for him his first term on the supreme court. he was the judge before then but we were there just trying to
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figure out where the bathrooms were way back when and you know that the day will come but you don't -- this man has been a part of my legal career since i've had one. a wonderful justice. a wonderful mentor. huge intellect. deep thinker. also great sense of humor with crazy hypotheticals from the bench. i think that it's just a day. >> it seems like one. can you talk about what you think his legacy will be? >> well, that's a nice question. i think that he is really pragmatist and someone who's able to look for common sense solutions within the limits of the law, of course, but he was willing to work with any of his colleagues to reach the solutions and cares deeply about
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democracy, about good governance and how to make good governance work for the people. i really think more than anything that's his legacy. >> you talk about him being a pragmatist, someone who used that sensibility in his jurisprudence. when you look -- you are not selecting the next supreme court justice but who do you think would be a fitting replacement? you can give names or ideals you hope this person holds. >> i know that president biden said he would pick a black woman and i think that we'll see how it unfolds fairly quickly i would expect and i think that -- look. you know, in terms of who takes the job on the court it is an incredibly difficult job. i don't expect that the court will change all that much but it
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lsh exciting to watch a new justice as much as it's sad to see this man who's been there for such a long time it is exciting to see a new justice come on the court with her own ideals and continue in the spirit of respect for democracy, for the law, good governance. i'm glad along with you i don't have to make the pick. >> lisa, thank you so much. we appreciate your thoughts and remembrances of justice breyer. thank you. i want to bring in someone part of the process to replace justice breyer. senator elizabeth warren. senator, let me start with the news from the supreme court. we'll get to the fed chair announcement in a second but your reaction to the expected
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retirement announcement from justice breyer? >> he is an extraordinary servant. he's done decisions of protecting a right to the abortion. and you know, has been an expert on administrative law and the importance of how the agencies work. so we are going to miss him but it is also a opportunity to bring in someone new and delighted that president biden will be standing by the pledge to bring in an african-american woman. i just think it's terrific. a new day for the court and i'm happy about it. >> we talked about the reporting from the team covering capitol hill that the senate democrats would like to get the process done in a month maybe. looking at the time frame of
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justice coney-barrett. >> we have not even begun here. we don't have an official retirement so we have to work through a process here but do keep in mind that coney-barrett was pushed in as a justice when donald trump was already on the threshold of losing the presidency so this is a rather different moment. joe biden has just finished his first year of a four-year term in office and announced in general who he wants to look at for a supreme court nominee. we have been able to do background on a lot of people and i think this will move through well with a good nominee. but we'll work through a
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process. make sure that everybody in the country gets a chance to get a good look at this woman and get a good sense of the kind of justice she will be. >> something else people in this country are looking to is what's happening with their money. right? we heard from the fed chair jerome powell in the last hour. to say you haven't seen eye to eye with him is an understatement but do you agree with the move to raise interest rates in march? >> look. we obviously want to deal with inflation, with rising prices that affect families. but we have to remember there is a complicated picture. there is a lot that's going on with. with the pandemic. we have seen kinks in the supply chain. we have seen big companies that have taken advantage of concentration in the market like the matte packing industry to drive up prices for consumers more. we have to be careful as we move
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forward that we're not just using one tool and that's the tool of increasing interest rates. there's a lot going on here and the biden administration is doing the right thing by empowering the fed -- the fed is empowered to raise interest rates as needed but also to keep working on the front to increase competition. that will break up the monopolies. to help bring down prices. to deal with covid. that's going to ease up on the supply chain. which will bring down prices. and ultimately this is about cost to families. we need to return to the core parts of build back better. bring down the cost of child care and child care for families to be better off. all i'm saying is tools in the toolbox. a lot of work to be doing.
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>> senator warren, i'm going to get in trouble with nicolle wallace. please come back to talk to you about student loan debt and called on the president to wipe that out. can we have you back? >> i'd love to and talk more about what powell said today and took a duck on ethics. biggest scandal at the fed in the entire history. the american people have a right to know what's going on and powell is not talking. >> we'll add to the list for the next discussion. it is nicolle wallace and "deadline white house" picking it up right now. ♪♪ hi there, everyone. 4:00 in new york. the united states supreme court. nbc news is reporting that justice breyer is


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