September 10, 2025 • 15 mins
On today's podcast:
1) A judge temporarily blocked President Trump from removing Federal Reserve Governor Lisa Cook, allowing her to remain on the job as she challenges the president’s efforts to oust her over allegations she committed mortgage fraud.
2) President Trump criticizes Israel after its bombing of Hamas leaders in the Gulf. Israel's strike on Qatar's capital delivered a major blow to US-supported efforts to normalize ties with Gulf Arab nations and possibly crippled talks for a ceasefire in Gaza. The strike may have ended Qatar's role as a mediator in ceasefire negotiations, with other countries such as Turkey potentially being put on high alert, according to former US and CIA officials.
3) Poland shot down drones that crossed into its territory during a Russian air strike on Ukraine, calling it an "act of aggression." The country's airspace was "violated by a huge number of Russian drones", forcing Poland to close its airspace and order citizens in the eastern part of the country to stay indoors. The incident was described as "the most serious European airspace violation by Russia since the war began", with indications suggesting it was intentional, not accidental.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:02):
Bloomberg Audio Studios, Podcasts, radio News.
Speaker 2 (00:09):
Good morning, I'm Nathan Hager and I'm Karen Moscow. Here
are the stories we're following today.
Speaker 3 (00:15):
Can we begin this morning with a key court ruling
involving Federal Reserve Governor Lisa Cook. The judge has temporarily
blocked President Trump's effort to remove her from her position
at the FED. Bloomberg Markets reporter Valerie Titel says the
decision allows Cook to remain in her post while she
challenges the White House's attempt to oust her over allegations
of mortgage fraud, which Cook says are politically motivated.
Speaker 4 (00:39):
This is a really important case to follow because this
is the first time a president has sought to remove
someone at the FED, and given the law written into
the Federal Reserve Act, the president can remove somebody for cause,
but it's very vague on what cause actually entails, and
this ruling really can have lasting effects on clarifying what
is justified as called in this scenario.
Speaker 3 (01:00):
Bloomberg's Valery Titesell says the judge concluded the alleged misconduct
likely does not amount to cause for her removal.
Speaker 2 (01:07):
Let's turn to the Middle East, now Nathan. Israel conducted
an unprecedented strike against senior Hamas leaders in the Katari
capital of Doha, escalating an already tense standoff between the
country and Arab nations over the war in Gaza. The
move drew criticism from the Trump administration, saying the bombing
did not advance Israeli or American goals in trying to
(01:28):
bring an end to the Middle East conflict, and the
President says he was not given advanced notice of the attack.
Speaker 5 (01:34):
I was very unhappy about it, very unhappy about every aspect,
and we got to get the hostages.
Speaker 6 (01:40):
Back, but I was very unhappy about the way that
went down.
Speaker 3 (01:44):
Now, so you were caught by surprise.
Speaker 5 (01:47):
I'm never surprised by anything, especially when it comes to
the Middle East.
Speaker 2 (01:51):
President Trump added that he spoke with both Israel Prime
Minister Benjamin att and Yahoo and Katari leaders after the
strike and assured Cutter that such an attack would not
happen again. HAMA said five of its members were killed
in the attack, though its May negotiating delegation survived.
Speaker 3 (02:08):
And Karen Katar is condemning this strike, calling it a
flagrant violation of international law. It says it will not
tolerate this reckless Israeli behavior and it's continued tampering with
regional security. William Roebuck as executive vice president at the
Arab Golf States Institute. He says the attack threatens the
ceasefire deal that President Trump proposed.
Speaker 6 (02:29):
I don't see prospects for the negotiations to start up again.
And I also on the Israeli side, just assessing the
way they have responded to the negotiation proposal, I don't
see a lot of strong interest on their side yet
in that proposal from President Trump.
Speaker 3 (02:47):
William Roebuck of the Arab Gulf States Institute Bloomberg Economic
says while crude oil futures jumped after the attack, oil
prices are unlikely to move persistently. Checking oil prices now,
they are moving higher. West Texas Intermediate It's up one percent,
trading as sixty three dollars twenty eight cents per barrel.
Brent is up nine tenths of one percent at sixty
seven dollars two cents and.
Speaker 2 (03:09):
Nathan mahamore geopolitical news this morning related to the war
in Ukraine. Poland has shot down drones that crossed into
its territory during a Russian airstrike on Ukraine. The Polish
military calling it an act of aggression, and the country's
premiere is asking NATO allies for support. Bloomberg Daybreak Europe
anchor Stephen Carrol is in Brussels and joins US Live
(03:29):
with the details.
Speaker 7 (03:30):
Good morning, Stephen, Good morning, Karen and Nathan. Poland's Prime Minister,
Donald Tusk, says his country's airspace was violated by a
huge number of Russian drones in the early hours of
this morning. Airports were closed for several hours, while citizens
in the east were told to stay indoors. It's the
first time the NATO member has shot down military aircraft
that have strayed into its airspace since the start of
(03:50):
Russia's full scale invasion of Ukraine. The EU's Foreign affair
chief Kaya Kalas says the incursion appears to be intentional.
The Polish Prime minister has asked NATO to invoke Article
four of its tracy, which triggers consultations on a military
response in Brussels. Stephen Carol Bloomberg Radio.
Speaker 3 (04:06):
Okay, Stephen, thank you. This news from Poland comes as
President Trump has told European officials He's willing to impose
new tariffs on India and China to pressure Russian President
Vladimir Putin to negotiate with Ukraine, but only if EU
nations do so as well. Other potential measures discussed include
further sanctions on Russia's shadow fleet of oil tankers and
(04:27):
restrictions on its banks and major oil companies.
Speaker 2 (04:30):
And there's more tariff news, Nathan. The Supreme Court will
de shigne whether the bulk of President Trump's tariffs are legal,
with arguments to be heard in the first week of November.
The tariffs remain in place for now, but a decision
striking down the tariffs could cut the current average US
effective tariff rate and force the US to refund tens
of billions of dollars and potentially up and preliminary trade deals.
Speaker 3 (04:51):
I want to turn now, Karen to a major political
race we're following in Boston, and expected one on one
showdown for Boston Mayor Michelle Wu and Challenger Josh Craft
is officially underway. Wu has not a sweeping victory in
the city's preliminary election, with one hundred percent of precincts reporting,
(05:12):
WU has drawn seventy one point six percent support to
Josh Craft's twenty three point three percent. The remaining five
percent of the vote went to activist Domingos de Rosa
and former police officer Robert Capucci. The election is scheduled
for Tuesday, November fourth.
Speaker 2 (05:29):
And looking at other elections across the country, here Nathan
a Democratic James Walkinshaw won the special election for Virginia's
eleventh district, holding on to the Democratic leaning seat in
the suburbs of Washington, DC. Walkinshaw will fill the seat
vacated in May by the death of Representative Jerry Connolly,
and Walkinshaw's win will narrow the Republican majority in the House,
(05:51):
where Speaker Mike Johnson will now only be able to
afford two defections from his party to still pass legislation.
Speaker 3 (05:57):
Back to Wall Street now, Karen Traders are going to
get more ECON data today. The Producer Price Index for
August is do out at eight thirty am Wall Street time.
We get a preview now from Bloomberg's Michael McKee.
Speaker 5 (06:09):
If anything could derail a FED rate cut, it would
be an August jump in inflation that's not expected when
the government releases the month's producer price index. The consensus
monthly change is just a third the size of July's
increase on an annual basis. Headline wholesale inflation is forecast unchanged,
while the core rate actually drops, a surprise, of course,
(06:31):
would increase market angst, although tomorrow's consumer price index will
have greater impact. What's likely to matter most today is
where we might see tariff induced inflation and how much.
Michael McKee, Bloomberg Radio.
Speaker 2 (06:44):
All right, Michael, thank you, returned to Big Tech Now
and a look at Oracle, which is surging this morning,
with shares jumping to a record after the company gave
an aggressive outlook for its cloud business, stunning Wall Street
and galvanizing hopes that the post chat GPT global AI
infrastructure buildout is accelera rating Oracle's cloud infrastructure revenue increase
fifty five percent to three point three billion dollars, with
(07:06):
the company signing four multi billion dollar contracts with three
different customers in the quarter, and it's expecting to sign
up several additional customers in the coming months. And looking
at Oracle shares this morning up almost twenty nine percent.
Speaker 3 (07:21):
Yeah, Karen, We're also keeping on Apple shares this morning
they're down a half percent in the pre market. After that,
tech Giant introduced a fresh range of products, including enhanced AirPods, watches,
and the thinnest ever iPhone, along with new pro versions
of the smart device. Dan Ives, global head of tech
Research and Webush Security, says the updates should move the
(07:42):
needle for Apple.
Speaker 8 (07:44):
There's nothing here that makes you think that this is
going to be the game change that everyone's been waiting for.
But I do believe given the install base, given some
of the tweaks here, and ultimately on the on sort
of the second half of this upgrade cycle, you will
have an AI riven Echoesism. I believe it will be
Google Gemini. This could be a sneaky upgrade cycle that
(08:06):
I think surprises investors on the upside.
Speaker 3 (08:09):
And what Bush's dan Ives adds, the iPhone seventeen air
drew the loudest cheers at the product launch in Cooper Tino.
Speaker 2 (08:19):
Time now for a look at some of the o
their stories making news in New York and around the world,
and for that we're joined by Bloomberg's Michael Barr.
Speaker 9 (08:25):
Michael, good morning, Good morning, Karen. That's not my signature
that denial from President Trump Tuesday, when he was asked
about a letter he allegedly signed for Jeffrey Epstein's fiftieth
birthday book in two thousand and three. Democrats on the
House Oversight Committee released an image of the message Monday.
It includes a message of signature at the bottom that
looks like the president's and an outline of a woman's figure.
(08:48):
President Trump spoke to the media before dinner in Washington.
Speaker 2 (08:52):
It's nonsense, and frankly, you're wasting your time.
Speaker 5 (08:55):
All you do is trying to get off the great
successes DC at about two hundred of the things we've
done that are so successful.
Speaker 9 (09:02):
Meanwhile, President Trump also touted sending federal agents to another city.
The National Guard and immigration authorities have started operations in Chicago.
The Justice Department is charged demand with the fatal stabbing
of a twenty three year old Ukrainian refugee on a
North Carolina commuter train. The charge means the Carlos Brown
Junior could face the death penalty of convicted of first
(09:24):
degree murder. Brown Junior has a lengthy arrest record, with
fourteen prior criminal cases. An urgent manhunt in New York
City today following a horrific fire and double homicide Polissa
and elderly couple was set on fire in their Queen's
home Monday. Frank and Maureen Olton, both in their seventies,
have been identified as the two victims. Commissioner Jessica Tish
(09:47):
says the victim's neighbors reported and unknown man knocking on doors.
Speaker 10 (09:51):
The suspects m o is to go door to door
asking for some kind of assistance until he can gain entry.
So do not allow wow anyone you don't know or
who you are not expecting into your home.
Speaker 9 (10:06):
In my PD, Commissioner Tish says, the suspect is forty
two year old Jamil McGriff, an armed and dangerous career
criminal out on parole for robbery. It is a rain
mid day for New Orleans Mayor LaToya Cantrell in federal
court on felony charges that include alleged wire fraud, obstruction
of justice, and lying to the FBI. Ken Trell is
(10:27):
still the city's mayor and is not running for reelection.
Global News twenty four hours a day and whenever you
want it with Bloomberg News Now Michael Bayron, This is
Bloomberg Karen.
Speaker 2 (10:38):
Thanks Michael, time now for our Bloomberg Sports updating. For that,
we bring in John stash Hour.
Speaker 11 (10:43):
Thanks Darren Kyles Schwarberg heading homer since his four home
run game almost two weeks ago, a three run shot
to help the Phillies beat the Mets nine to three,
the fiftieth home run of the season for Schwarber. Aaron Judge,
it is forty fourth, moved past Jogi barn the fifth
on the all time Yankee list, but Detroit scoring nine
runs on the seventh. Then he beat the Yankees twelve
to two. The Red Sox shout out the A six
(11:04):
and I think quite a major league debut for Connolly.
Early went by betting to allowed no Ron's struck out eleven.
That's your Bloomberg Sports Update.
Speaker 2 (11:13):
Stay with us. More from Bloomberg day Break coming up
after this.
Speaker 1 (11:21):
Coast to coast on Bloomberg Radio, nationwide on Sirius XM,
and around the world on Bloomberg dot Com and the
Bloomberg Business app. This is Bloomberg Daybreak.
Speaker 3 (11:32):
Good morning, I'm Nathan Hager. The legal fight between President
Donald Trump and Federal Reserve Governor Lisa Cook has taken
a key turn ahead of the fed's next rate decision
one week from today. The federal judge is allowing Cook
to stay in her job while she continues to challenge
the president's effort to oust her for alleged mortgage fraud.
Joining us for the latest is Bloomberg Markets reporter Valerie
(11:52):
Titel soval this case clearly isn't over, but I guess
this is a bit of a reprieve for Governor Cook.
Good morning, Good.
Speaker 4 (12:00):
Morning, Nathan. Well, I thought it was really interesting to
look at why the judge decided to take this action,
decided to let Cook remain in the seat while the
court considers the case, and to her opinion on the case,
she says that only Cook's conduct on the job could
be grounds for removal, and given that this alleged Morgan
fraud actually happened a few months up to a year
(12:22):
before she became a sitting governor, the judge is essentially
saying that it's unlikely that Trump has cause to dismiss her. Now, remember, Nathan,
this is the first time that a sitting US president
has tried to remove a Federal Reserve Board governor. The
law in the Federal Reserve Act does give the president
power to fire FED officials for cause, but the law
(12:45):
does not specify what exactly that means, leaves it very vague.
But this ruling, eventually, when we do get it, could
have lasting effects on clarifying what is justified as cause
in this scenario. Now, this case is likely to trigger
a high stakes appeals battle. It's likely to quickly land
at the Supreme Court, but questions still. You can essentially
(13:08):
debate both sides on how the Supreme Court will handle this.
On one side, they have upheld some of Trump's decisions
to dismiss other agency heads. But the Supreme Court has
had some precedents in the past where it has called
the FED a unique institution that has a special arrangement
sanctioned by history. So it kind of is giving us
(13:30):
early hints that they might treat the FED differently from
other independent agencies.
Speaker 3 (13:34):
So, as this case goes forward, then Valerie, is there
a risk that governor could still be removed from her
post before the next decision next week? Since this is
ostensibly going to appeal, we have about a minute left.
Speaker 4 (13:48):
Well, look, it's going to appeal. I mean it's likely
that she will be a voter next week. We never
know how quickly these cases can be dealt with the courts,
but she is likely to be a voter come next
week's decision. The case is just we'll probably make its
way up to the Supreme Court's lap. But the Supreme
Court has already fast tracked the Trump's case against his tariff,
so it's likely they might do the same with this case,
(14:10):
given that they want a weigh the merits of these
two cases that are highly highly political and have a
huge effect on the market.
Speaker 2 (14:18):
This is Bloomberg day Break, your morning podcast on the
stories making news from Wall Street to Washington and beyond.
Speaker 3 (14:24):
Look for us on your podcast feed by six am
Eastern each morning, on Apple, Spotify, or anywhere else you listen.
Speaker 2 (14:31):
You can also listen live each morning starting at five
am Wall Street time on Bloomberg eleven three to zero
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Speaker 3 (14:45):
Plus listen coast to coast on the Bloomberg Business app
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Speaker 2 (14:51):
Don't forget to subscribe to Bloomberg News Now. It's the
latest news whenever you want it in five minutes or less.
Search Bloomberg News Now in your favorite platform to stay
informed all day long. I'm Karen Moscow.
Speaker 3 (15:04):
And I'm Nathan Hager. Join us again tomorrow morning for
all the news you need to start your day right
here on Bloomberg Day Ray
Bloomberg Audio Studios, Podcasts, radio News.
Speaker 2 (00:09):
Good morning, I'm Nathan Hager and I'm Karen Moscow. Here
are the stories we're following today.
Speaker 3 (00:15):
Can we begin this morning with a key court ruling
involving Federal Reserve Governor Lisa Cook. The judge has temporarily
blocked President Trump's effort to remove her from her position
at the FED. Bloomberg Markets reporter Valerie Titel says the
decision allows Cook to remain in her post while she
challenges the White House's attempt to oust her over allegations
of mortgage fraud, which Cook says are politically motivated.
Speaker 4 (00:39):
This is a really important case to follow because this
is the first time a president has sought to remove
someone at the FED, and given the law written into
the Federal Reserve Act, the president can remove somebody for cause,
but it's very vague on what cause actually entails, and
this ruling really can have lasting effects on clarifying what
is justified as called in this scenario.
Speaker 3 (01:00):
Bloomberg's Valery Titesell says the judge concluded the alleged misconduct
likely does not amount to cause for her removal.
Speaker 2 (01:07):
Let's turn to the Middle East, now Nathan. Israel conducted
an unprecedented strike against senior Hamas leaders in the Katari
capital of Doha, escalating an already tense standoff between the
country and Arab nations over the war in Gaza. The
move drew criticism from the Trump administration, saying the bombing
did not advance Israeli or American goals in trying to
(01:28):
bring an end to the Middle East conflict, and the
President says he was not given advanced notice of the attack.
Speaker 5 (01:34):
I was very unhappy about it, very unhappy about every aspect,
and we got to get the hostages.
Speaker 6 (01:40):
Back, but I was very unhappy about the way that
went down.
Speaker 3 (01:44):
Now, so you were caught by surprise.
Speaker 5 (01:47):
I'm never surprised by anything, especially when it comes to
the Middle East.
Speaker 2 (01:51):
President Trump added that he spoke with both Israel Prime
Minister Benjamin att and Yahoo and Katari leaders after the
strike and assured Cutter that such an attack would not
happen again. HAMA said five of its members were killed
in the attack, though its May negotiating delegation survived.
Speaker 3 (02:08):
And Karen Katar is condemning this strike, calling it a
flagrant violation of international law. It says it will not
tolerate this reckless Israeli behavior and it's continued tampering with
regional security. William Roebuck as executive vice president at the
Arab Golf States Institute. He says the attack threatens the
ceasefire deal that President Trump proposed.
Speaker 6 (02:29):
I don't see prospects for the negotiations to start up again.
And I also on the Israeli side, just assessing the
way they have responded to the negotiation proposal, I don't
see a lot of strong interest on their side yet
in that proposal from President Trump.
Speaker 3 (02:47):
William Roebuck of the Arab Gulf States Institute Bloomberg Economic
says while crude oil futures jumped after the attack, oil
prices are unlikely to move persistently. Checking oil prices now,
they are moving higher. West Texas Intermediate It's up one percent,
trading as sixty three dollars twenty eight cents per barrel.
Brent is up nine tenths of one percent at sixty
seven dollars two cents and.
Speaker 2 (03:09):
Nathan mahamore geopolitical news this morning related to the war
in Ukraine. Poland has shot down drones that crossed into
its territory during a Russian airstrike on Ukraine. The Polish
military calling it an act of aggression, and the country's
premiere is asking NATO allies for support. Bloomberg Daybreak Europe
anchor Stephen Carrol is in Brussels and joins US Live
(03:29):
with the details.
Speaker 7 (03:30):
Good morning, Stephen, Good morning, Karen and Nathan. Poland's Prime Minister,
Donald Tusk, says his country's airspace was violated by a
huge number of Russian drones in the early hours of
this morning. Airports were closed for several hours, while citizens
in the east were told to stay indoors. It's the
first time the NATO member has shot down military aircraft
that have strayed into its airspace since the start of
(03:50):
Russia's full scale invasion of Ukraine. The EU's Foreign affair
chief Kaya Kalas says the incursion appears to be intentional.
The Polish Prime minister has asked NATO to invoke Article
four of its tracy, which triggers consultations on a military
response in Brussels. Stephen Carol Bloomberg Radio.
Speaker 3 (04:06):
Okay, Stephen, thank you. This news from Poland comes as
President Trump has told European officials He's willing to impose
new tariffs on India and China to pressure Russian President
Vladimir Putin to negotiate with Ukraine, but only if EU
nations do so as well. Other potential measures discussed include
further sanctions on Russia's shadow fleet of oil tankers and
(04:27):
restrictions on its banks and major oil companies.
Speaker 2 (04:30):
And there's more tariff news, Nathan. The Supreme Court will
de shigne whether the bulk of President Trump's tariffs are legal,
with arguments to be heard in the first week of November.
The tariffs remain in place for now, but a decision
striking down the tariffs could cut the current average US
effective tariff rate and force the US to refund tens
of billions of dollars and potentially up and preliminary trade deals.
Speaker 3 (04:51):
I want to turn now, Karen to a major political
race we're following in Boston, and expected one on one
showdown for Boston Mayor Michelle Wu and Challenger Josh Craft
is officially underway. Wu has not a sweeping victory in
the city's preliminary election, with one hundred percent of precincts reporting,
(05:12):
WU has drawn seventy one point six percent support to
Josh Craft's twenty three point three percent. The remaining five
percent of the vote went to activist Domingos de Rosa
and former police officer Robert Capucci. The election is scheduled
for Tuesday, November fourth.
Speaker 2 (05:29):
And looking at other elections across the country, here Nathan
a Democratic James Walkinshaw won the special election for Virginia's
eleventh district, holding on to the Democratic leaning seat in
the suburbs of Washington, DC. Walkinshaw will fill the seat
vacated in May by the death of Representative Jerry Connolly,
and Walkinshaw's win will narrow the Republican majority in the House,
(05:51):
where Speaker Mike Johnson will now only be able to
afford two defections from his party to still pass legislation.
Speaker 3 (05:57):
Back to Wall Street now, Karen Traders are going to
get more ECON data today. The Producer Price Index for
August is do out at eight thirty am Wall Street time.
We get a preview now from Bloomberg's Michael McKee.
Speaker 5 (06:09):
If anything could derail a FED rate cut, it would
be an August jump in inflation that's not expected when
the government releases the month's producer price index. The consensus
monthly change is just a third the size of July's
increase on an annual basis. Headline wholesale inflation is forecast unchanged,
while the core rate actually drops, a surprise, of course,
(06:31):
would increase market angst, although tomorrow's consumer price index will
have greater impact. What's likely to matter most today is
where we might see tariff induced inflation and how much.
Michael McKee, Bloomberg Radio.
Speaker 2 (06:44):
All right, Michael, thank you, returned to Big Tech Now
and a look at Oracle, which is surging this morning,
with shares jumping to a record after the company gave
an aggressive outlook for its cloud business, stunning Wall Street
and galvanizing hopes that the post chat GPT global AI
infrastructure buildout is accelera rating Oracle's cloud infrastructure revenue increase
fifty five percent to three point three billion dollars, with
(07:06):
the company signing four multi billion dollar contracts with three
different customers in the quarter, and it's expecting to sign
up several additional customers in the coming months. And looking
at Oracle shares this morning up almost twenty nine percent.
Speaker 3 (07:21):
Yeah, Karen, We're also keeping on Apple shares this morning
they're down a half percent in the pre market. After that,
tech Giant introduced a fresh range of products, including enhanced AirPods, watches,
and the thinnest ever iPhone, along with new pro versions
of the smart device. Dan Ives, global head of tech
Research and Webush Security, says the updates should move the
(07:42):
needle for Apple.
Speaker 8 (07:44):
There's nothing here that makes you think that this is
going to be the game change that everyone's been waiting for.
But I do believe given the install base, given some
of the tweaks here, and ultimately on the on sort
of the second half of this upgrade cycle, you will
have an AI riven Echoesism. I believe it will be
Google Gemini. This could be a sneaky upgrade cycle that
(08:06):
I think surprises investors on the upside.
Speaker 3 (08:09):
And what Bush's dan Ives adds, the iPhone seventeen air
drew the loudest cheers at the product launch in Cooper Tino.
Speaker 2 (08:19):
Time now for a look at some of the o
their stories making news in New York and around the world,
and for that we're joined by Bloomberg's Michael Barr.
Speaker 9 (08:25):
Michael, good morning, Good morning, Karen. That's not my signature
that denial from President Trump Tuesday, when he was asked
about a letter he allegedly signed for Jeffrey Epstein's fiftieth
birthday book in two thousand and three. Democrats on the
House Oversight Committee released an image of the message Monday.
It includes a message of signature at the bottom that
looks like the president's and an outline of a woman's figure.
(08:48):
President Trump spoke to the media before dinner in Washington.
Speaker 2 (08:52):
It's nonsense, and frankly, you're wasting your time.
Speaker 5 (08:55):
All you do is trying to get off the great
successes DC at about two hundred of the things we've
done that are so successful.
Speaker 9 (09:02):
Meanwhile, President Trump also touted sending federal agents to another city.
The National Guard and immigration authorities have started operations in Chicago.
The Justice Department is charged demand with the fatal stabbing
of a twenty three year old Ukrainian refugee on a
North Carolina commuter train. The charge means the Carlos Brown
Junior could face the death penalty of convicted of first
(09:24):
degree murder. Brown Junior has a lengthy arrest record, with
fourteen prior criminal cases. An urgent manhunt in New York
City today following a horrific fire and double homicide Polissa
and elderly couple was set on fire in their Queen's
home Monday. Frank and Maureen Olton, both in their seventies,
have been identified as the two victims. Commissioner Jessica Tish
(09:47):
says the victim's neighbors reported and unknown man knocking on doors.
Speaker 10 (09:51):
The suspects m o is to go door to door
asking for some kind of assistance until he can gain entry.
So do not allow wow anyone you don't know or
who you are not expecting into your home.
Speaker 9 (10:06):
In my PD, Commissioner Tish says, the suspect is forty
two year old Jamil McGriff, an armed and dangerous career
criminal out on parole for robbery. It is a rain
mid day for New Orleans Mayor LaToya Cantrell in federal
court on felony charges that include alleged wire fraud, obstruction
of justice, and lying to the FBI. Ken Trell is
(10:27):
still the city's mayor and is not running for reelection.
Global News twenty four hours a day and whenever you
want it with Bloomberg News Now Michael Bayron, This is
Bloomberg Karen.
Speaker 2 (10:38):
Thanks Michael, time now for our Bloomberg Sports updating. For that,
we bring in John stash Hour.
Speaker 11 (10:43):
Thanks Darren Kyles Schwarberg heading homer since his four home
run game almost two weeks ago, a three run shot
to help the Phillies beat the Mets nine to three,
the fiftieth home run of the season for Schwarber. Aaron Judge,
it is forty fourth, moved past Jogi barn the fifth
on the all time Yankee list, but Detroit scoring nine
runs on the seventh. Then he beat the Yankees twelve
to two. The Red Sox shout out the A six
(11:04):
and I think quite a major league debut for Connolly.
Early went by betting to allowed no Ron's struck out eleven.
That's your Bloomberg Sports Update.
Speaker 2 (11:13):
Stay with us. More from Bloomberg day Break coming up
after this.
Speaker 1 (11:21):
Coast to coast on Bloomberg Radio, nationwide on Sirius XM,
and around the world on Bloomberg dot Com and the
Bloomberg Business app. This is Bloomberg Daybreak.
Speaker 3 (11:32):
Good morning, I'm Nathan Hager. The legal fight between President
Donald Trump and Federal Reserve Governor Lisa Cook has taken
a key turn ahead of the fed's next rate decision
one week from today. The federal judge is allowing Cook
to stay in her job while she continues to challenge
the president's effort to oust her for alleged mortgage fraud.
Joining us for the latest is Bloomberg Markets reporter Valerie
(11:52):
Titel soval this case clearly isn't over, but I guess
this is a bit of a reprieve for Governor Cook.
Good morning, Good.
Speaker 4 (12:00):
Morning, Nathan. Well, I thought it was really interesting to
look at why the judge decided to take this action,
decided to let Cook remain in the seat while the
court considers the case, and to her opinion on the case,
she says that only Cook's conduct on the job could
be grounds for removal, and given that this alleged Morgan
fraud actually happened a few months up to a year
(12:22):
before she became a sitting governor, the judge is essentially
saying that it's unlikely that Trump has cause to dismiss her. Now, remember, Nathan,
this is the first time that a sitting US president
has tried to remove a Federal Reserve Board governor. The
law in the Federal Reserve Act does give the president
power to fire FED officials for cause, but the law
(12:45):
does not specify what exactly that means, leaves it very vague.
But this ruling, eventually, when we do get it, could
have lasting effects on clarifying what is justified as cause
in this scenario. Now, this case is likely to trigger
a high stakes appeals battle. It's likely to quickly land
at the Supreme Court, but questions still. You can essentially
(13:08):
debate both sides on how the Supreme Court will handle this.
On one side, they have upheld some of Trump's decisions
to dismiss other agency heads. But the Supreme Court has
had some precedents in the past where it has called
the FED a unique institution that has a special arrangement
sanctioned by history. So it kind of is giving us
(13:30):
early hints that they might treat the FED differently from
other independent agencies.
Speaker 3 (13:34):
So, as this case goes forward, then Valerie, is there
a risk that governor could still be removed from her
post before the next decision next week? Since this is
ostensibly going to appeal, we have about a minute left.
Speaker 4 (13:48):
Well, look, it's going to appeal. I mean it's likely
that she will be a voter next week. We never
know how quickly these cases can be dealt with the courts,
but she is likely to be a voter come next
week's decision. The case is just we'll probably make its
way up to the Supreme Court's lap. But the Supreme
Court has already fast tracked the Trump's case against his tariff,
so it's likely they might do the same with this case,
(14:10):
given that they want a weigh the merits of these
two cases that are highly highly political and have a
huge effect on the market.
Speaker 2 (14:18):
This is Bloomberg day Break, your morning podcast on the
stories making news from Wall Street to Washington and beyond.
Speaker 3 (14:24):
Look for us on your podcast feed by six am
Eastern each morning, on Apple, Spotify, or anywhere else you listen.
Speaker 2 (14:31):
You can also listen live each morning starting at five
am Wall Street time on Bloomberg eleven three to zero
in New York, Bloomberg ninety nine to one in Washington,
Bloomberg ninety two nine in Boston, and nationwide on serious
XM Channel one twenty one.
Speaker 3 (14:45):
Plus listen coast to coast on the Bloomberg Business app
now with Apple CarPlay and Android Atto interfaces, and.
Speaker 2 (14:51):
Don't forget to subscribe to Bloomberg News Now. It's the
latest news whenever you want it in five minutes or less.
Search Bloomberg News Now in your favorite platform to stay
informed all day long. I'm Karen Moscow.
Speaker 3 (15:04):
And I'm Nathan Hager. Join us again tomorrow morning for
all the news you need to start your day right
here on Bloomberg Day Ray
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