December 10, 2025 • 15 mins
On today's podcast:
1) Stocks are marking a second straight day of restrained moves as traders await the Fed’s outlook for interest rates in 2026 after an expected cut at Wednesday’s policy announcement.
2) President Donald Trump said people were “starting to learn” the benefits of his tariff regime as he sought to convince voters his administration was moving to address affordability concerns, taking to the road in hopes of countering a mounting political vulnerability.
3) Paramount Skydance Corp. and Netflix Inc. — the entertainment heavyweights locked in a bidding war for Warner Bros. Discovery Inc. — are girding for a battle they predict will stretch well into 2026.
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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):
Well, Karen.
Speaker 4 (00:15):
Global bond yields have risen to high's last scene in
two thousand and nine. Ahead of the Federal Reserves the
final policy meeting of the year. There is concern interest
rate cutting cycles may be ending soon, but as for today,
traders are all about certain a rate cut is on
the way, as Bloomberg's Michael McKee reports, though that is
not the only thing investors will be focused on.
Speaker 5 (00:37):
The markets have priced in a quarter point cut, and
the Fed doesn't like to disappoint, But the real questions
revolve around descents, the dot plot and their twenty twenty
six outlook. We may have three policymakers vote against the
decision for the first time since twenty nineteen. Investors are
also focused on what comes next. In September, FED officials
(00:57):
saw just one rate cut for next year. At the moment,
the markets are pricing in three. How many they see
now will depend on their forecasts for unemployment and inflation
in twenty twenty six. They forecast improvement in both. Back
in September, but have the risks changed. Michael McKee, Bloomberg Radio.
Speaker 4 (01:15):
Okay, Mike, thank you for full coverage of the FED
decision and remarks from Chairman J Powell. Tune into a
special edition of Bloomberg Surveillance the FED decides. It kicks
off this afternoon at one thirty Wall Street time on
Bloomberg Radio, Bloomberg Television, and the Bloomberg Podcast channel on YouTube.
Speaker 2 (01:32):
Well ahead of the Fed's last policy decision of the year, Nathan,
President Trump once again took aim at Feder Reserve Chairman J.
Speaker 5 (01:40):
Powell.
Speaker 2 (01:40):
The President spoke at a rally in Pennsylvania.
Speaker 6 (01:43):
Well, checking this, you know, we have a bad head
of the FED bed We're going to be making a change.
Fortunately this guy soo.
Speaker 2 (01:50):
And President Trump says he has a quote pretty good
idea on who he wants to run the FED. The
President says he may wait until early next year to
publicly reveal the name.
Speaker 4 (01:59):
The economy was front and center at the President's rally.
He was out to address voters' concerns about the high
cost of living, telling the Mount Pocono crowd, people are
starting to see the benefits of tariffs.
Speaker 6 (02:11):
It's amazing. It's the smart people understand it. Other people
are starting to learn, but the smart people really understand it.
Speaker 4 (02:18):
The President says tariffs have allowed him to provide aid
to farmers and have forced manufacturers to build plants and
data centers in the US, And he says he inherited
high prices from the Biden administration.
Speaker 6 (02:29):
They say affordability, and everyone says, oh, that must mean
Trump has high prices. Now, our prices are coming down tremendously.
Speaker 4 (02:39):
And at one point during the rally, President Trump suggested
he could try to remove some FED governors if former
President Biden signed their commissions with an auto pen. President
Trump has criticized Biden's use of automatic signatures before presidents
have used them since at least the nineteen forties.
Speaker 2 (02:55):
Let's stick with politics here in Nathan. History has been
made in Miami. Eileen Higgins won the city may oral runoff.
She becomes the first woman ever and the first Democrat
in nearly three decades to lead Miami. Higin's peed a
Republican endorsed by President Trump. Higgin's victory adds to a
recent stretch of Democratic gains, including last month's wins in
New Jersey, and Virginia and zo orun Mom Donnie's victory
(03:17):
as New York mayor.
Speaker 4 (03:19):
In the nation's capital, kar and Senate Republicans are set
to vote on a plan this week to counter Democrats
push to extend expiring Affordable Care Act subsidies. We get
more from Bloomberg Zamy Morris.
Speaker 7 (03:30):
In Washington, Senate majority leader John Thunne promised Democrats a
vote to extend Obamacare premium tax credits in exchange for
reopening the government last month, but Republicans don't want to
vote against the extension without an alternative plan. This proposal
would offer people in some Affordable Care Act health plans
up to fifteen hundred dollars in health savings accounts, but
(03:51):
it also includes restrictions that could ruin Democratic support. Neither
the Republican nor Democratic plans are expected to get the
sixty votes needed for Senate passage, and healthcare costs for
more than twenty million people are set despite January first.
In Washington, Amy Morris Bloomberg Radio, All.
Speaker 2 (04:08):
Right, Amy, thank you now. We want to get the
latest on the war in Ukraine. President Trump is saying
Russia is in a stronger military position in the war
he took aim at European leaders for what he sees
as excessive dialogue that's produced few results. And here's part
of Donald Trump's exchange with Politico's Dasher Burns.
Speaker 6 (04:27):
They're not doing a good job. Europe is not doing
a good job. In many ways, they're not doing a
good job. I want to They talk too much and
they're not producing. We're talking about Ukraine. They talk, but
they don't produce, and the war just keeps going on
and on.
Speaker 2 (04:46):
Almost four years since Putin's full scale invasion of Ukraine,
the war has come at a huge cost for both sides,
more than one and a half million troops killed or wounded,
according to Western estimates.
Speaker 4 (04:57):
Well, now we want to turn care into a Bloomberg
News exclusive. A trove of emails reviewed by Bloomberg reveals
Jeffrey Epstein's financial ties on and off Wall Street were
broader than previously known. Let's get the details from Bloomberg's
John Tucker, Good Morning John.
Speaker 8 (05:12):
And Nathan akash At. More than eighteen thousand emails sent
to in front Epstein's private Yahoo account shows, even after
stories of Epstein's teenage victims spilled into the open Wall
Street continued to stay in touch. Some helped keep his
money machine turning. He had access to prestigious names in
global finance, including legendary Renaissance Technologies and the investment firm
(05:35):
a billionaire Carl ICoD. Just week samter Epstein was charged
with soliciting prostitution. For example, he received a coveted invitation
from wealth manager Greg Hirsch to invest with Renaissance. Epstein
jumped to the chance. Hersh who now runs his own office,
said through a spokesperson his interactions were solely professional and
ended in two thousand and seven.
Speaker 6 (05:57):
Well.
Speaker 8 (05:57):
Epstein even fielded requests for investments until his last week
of freedom in New York. I'm John Tucker Bloomberg Radio.
Speaker 2 (06:04):
All right, John, thank you. Well, there are some companies
in the news this morning, Paramount's guide and said Netflix,
the entertainment heavyweights so logging in a bidding war for
Warner Brothers Discovery are bracing for a battle that could
last months. Warner Brothers board is not planning to cancel
its merger agreement with Netflix, which would require a two
point eight billion dollar termination fee. And let's say that
(06:25):
now puts the onus on Paramount to make the next move. Meanwhile,
money manager Mariogabelli says it's quote highly likely he will
tender his client's Warner Brothers shares to paramount and an
effort to spark a bidding war for the film and
TV company.
Speaker 4 (06:38):
We're watching shares a JP Morgan chase this morning, Karen.
They're up about a tenth percent, but that followed a
drop yesterday at four point seven percent after the bank's
Maryann Lake said JP Morgan anticipates spending one hundred and
five billion dollars next year. That outlook was more than
analysts we're looking for.
Speaker 2 (06:56):
And SpaceX Nathan's moving ahead with plans for an initial
public offer a now would seek to ray significantly more
than thirty billion dollars. Sources say the Elon muss Lad
company is targeting a valuation of about one and a
half trillion for SpaceX, and Bloomberg Tech host ed Ludlow
has more.
Speaker 9 (07:12):
They do need capital, you know, Elon Musk has posted
a lot recently about their cash flow position why they
don't need cash. But what I understand from sources is
the reason they're targeting a arrays of more than thirty
billion dollars, significantly more than thirty billion dollars, is that,
alongside all of SpaceX's other long term goals with Starship
(07:33):
in particular, they are looking at the market potential of
space or constellation based data center satellites that act in
consolation and aggregate as data centers where SpaceX needs a
capital to buy the semiconductors by the Chips.
Speaker 2 (07:49):
And bloomberg Ed Ludlow says SpaceX is pursuing a listing
as soon as mid to late twenty twenty six. Time
now some of the other stories making news in New
York and around the world, and for that we're joined
by Bloomberg's and Michael Barr Michael good Morning.
Speaker 3 (08:05):
Good Morning, Karen. Accused United Healthcare CEO killer Luigi Mangione
was back in the Manhattan court Tuesday for pre trial
hearings on evidence taken when he was arrested in an Altoona, Pennsylvania,
fast food restaurant last year. The court saw body camera
video of his arrest from a year ago. Mangione's attorneys
(08:26):
claimed that police searched him illegally and are fighting to
get key evidence seized from him thrown out. New York
City Mayor elect Zoron Mamdani met with real estate leaders
and members of the Partnership for New York City to
tackle the city's issue of housing the homeless. Mamdannie says
they discussed how to remove roadblocks that make building new
(08:47):
units difficult and secure more federal aid for development.
Speaker 5 (08:51):
The question, however, is whether we will be satisfied by
just shuttling those New Yorkers to another equally cold place
in our city, or whether we want to connect them
to housing.
Speaker 3 (08:58):
One New York Subway Writers says many homeless end up
on trains. Get these people into proper facilities, not the subway.
It's dangerous to have actions.
Speaker 5 (09:08):
They could fall in the tracks, tents on the subway
with traffic rush.
Speaker 9 (09:12):
How is that going to work?
Speaker 3 (09:13):
Mayor electmam Donne sparked some controversy after his comments last
week saying that he would stop the NYPD from cracking
down on homeless encampments. A suspect is in constaday after
his shooting at Kentucky State University in Frankfort. Police say
Jacob Lee Bard of Evansville, Indiana is not a student
if already say Barred allegedly shot two students near a
(09:35):
residence hall. Scott Tracy is the assistant chief of the
Frankfort Police Department.
Speaker 10 (09:41):
They were quickly transported to a local hospital for treatment
by Frankfort Fire and EMS. Tragically, one has passed away
from injuries, the other remains in critical condition.
Speaker 3 (09:55):
Assistant Chief Tracy did not release a motive, except to
say it stemmed from a personal dispute. Global News twenty
four hours a day and whenever you want it with
Bloomberg News Now. I'm Michael laarm and this is Bloomberg Karen.
Speaker 5 (10:08):
Thanks Michael.
Speaker 2 (10:09):
Time now for our Bloomberg Sports Update, and for that
we bring in John stash Hour.
Speaker 11 (10:14):
Thanks Karen Orlando, and the next advance of the semifinals
of the NBA Cup. The Magic beat the Heat one
seventeen one oh eight. The Knicks one in Toronto won
seventeen one oh one. Jalen Brunton scare thirty five e
at twenty in the first quarter. Two big news items
for the baseball winner Meetium is Kyle Schwarber is staying
with the Phillies a five year deal for one hundred
and fifty million. It hit fifty six on ONNS last season,
(10:34):
and closer Edwin Diaz leaving the Mets to sign with
the world champion Dodgers. Forty four year old Philip Rivers
coming out of retirement to sign with the Colts. That's
to Bloomberg Sports Update.
Speaker 2 (10:45):
Stay with us more from Bloomberg day Break coming up
after this.
Speaker 1 (10:53):
Coast to coast on Bloomberg Radio, nationwide on Sirius XM,
and around the world on Bloomberg dot Com, home and
the Bloomberg Business app. This is Bloomberg day Break.
Speaker 4 (11:03):
Good morning, I'm Nathan Hager on the morning before the
final Federal reserve rate decision of twenty twenty five. Last
time we heard from FED Chair J Powell at the
October meeting, he was already talking about December. A further
reduction in the policy rate at the December meeting is
not a foregone conclusion.
Speaker 8 (11:22):
Far from it.
Speaker 4 (11:22):
Fast forward to today, markets do seem to think a
cut is a foregone conclusion. The question now is what next?
Joining us for more on this Bloomberg Markets reporter Valerie Titel,
And that really is the question, isn't at Valerie? So
many diverging views on what the Fed should be doing
into twenty twenty six.
Speaker 12 (11:40):
Good morning, Yeah, Good morning, Nathan, And just how will
Powell do. How will he succeed on managing a consensus
along this fractured committee. It is an unusually divided Fed
that we have at the moment. We have Stephen Myron
on one side clamoring for a faster pace of rate
cuts likely to dissent a larger jumbo fifty basis point
(12:02):
rate reduction today, and then on the more hawkish side,
we've had many regional FED presidents five in total who
have voiced some unnies about eight cutting rates here in December,
so we could be up for many of descents if
we get more than four, Nathan. That's something we've really
not seen in modern FED history. But Powell has done
(12:22):
a very good job as his tenure of FED chair
at managing a consensus, but today he'll really be put
to the test on that. To add to all of this,
there is still the division that has been exacerbated by
the lack of fresh economic data. The market and the
FED is still waiting for November CPI November non farm payrolls.
Really the last big set of data that they have
(12:44):
is all the way back in September before the government
shut down. So just how will he manage a consensus
around the fact that we are still in a data
fog that is unlikely to clear for another two weeks.
Speaker 4 (12:56):
So then what kind of message can we expect from
Chairman Powell when it signaling what the path for policy
could be into next year given that kind of fog.
Speaker 12 (13:05):
So I think the market is expecting him to sound
a little bit hawkish on next year. And the way
he could possibly do that in a very subtle way,
Nathan is by saying that, look, the last two FED
cuts were a risk management exercise, and now that risk
management exercise is coming to an end and we should
slow down our pace of rate cuts. He very much
(13:25):
framed the last two cuts in that way. It was
a risk management exercise to protect the labor market aside
from inflation being above target at that time. Perhaps he
will say that, you know, the risks to labor market
and the risk to inflation are more balanced at this decision,
and we need to slow down and wait for further
clarity on the data. That could be kind of a
hawkish hint to the market. But note, Nathan, the market
(13:49):
is already really they've already really priced in a more
hawkish FED today. If we look at how the money
markets are pricing in rate cuts for twenty twenty six.
Heard it back by quite a lot in the month
of December. We're only pricing in fifty basis points of
rate reductions in twenty twenty six. At the beginning of
December that number was closer to eighty basis points. We
(14:11):
have seen a decent pairback in what traders thinks the
Fed will do next year.
Speaker 2 (14:16):
This is Bloomberg day Break, your morning podcast on the
stories making news from Wall Street to Washington and beyond.
Speaker 4 (14:23):
Look for us on your podcast feed by six am
Eastern each morning, on Apple, Spotify, or anywhere else you listen.
Speaker 2 (14:29):
You can also listen live each morning starting at five
am Wall Street time on Bloomberg eleven three to zero
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Bloomberg ninety two nine in Boston, and nationwide on serious
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Speaker 7 (14:44):
Plus.
Speaker 4 (14:44):
Listen coast to coast on the Bloomberg Business app now
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Speaker 2 (14:50):
And don't forget to subscribe to Bloomberg News Now.
Speaker 7 (14:52):
It's the latest.
Speaker 2 (14:53):
News whenever you want it in five minutes or less.
Search Bloomberg News Now on your favorite podcast platform to
stay in Performed all day long. I'm Karen Moscow.
Speaker 4 (15:03):
And I'm Nathan Hager. Join us again tomorrow morning for
all the news you need to start your day, right
here on Bloomberg.
Speaker 3 (15:08):
Dabraey
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):
Well, Karen.
Speaker 4 (00:15):
Global bond yields have risen to high's last scene in
two thousand and nine. Ahead of the Federal Reserves the
final policy meeting of the year. There is concern interest
rate cutting cycles may be ending soon, but as for today,
traders are all about certain a rate cut is on
the way, as Bloomberg's Michael McKee reports, though that is
not the only thing investors will be focused on.
Speaker 5 (00:37):
The markets have priced in a quarter point cut, and
the Fed doesn't like to disappoint, But the real questions
revolve around descents, the dot plot and their twenty twenty
six outlook. We may have three policymakers vote against the
decision for the first time since twenty nineteen. Investors are
also focused on what comes next. In September, FED officials
(00:57):
saw just one rate cut for next year. At the moment,
the markets are pricing in three. How many they see
now will depend on their forecasts for unemployment and inflation
in twenty twenty six. They forecast improvement in both. Back
in September, but have the risks changed. Michael McKee, Bloomberg Radio.
Speaker 4 (01:15):
Okay, Mike, thank you for full coverage of the FED
decision and remarks from Chairman J Powell. Tune into a
special edition of Bloomberg Surveillance the FED decides. It kicks
off this afternoon at one thirty Wall Street time on
Bloomberg Radio, Bloomberg Television, and the Bloomberg Podcast channel on YouTube.
Speaker 2 (01:32):
Well ahead of the Fed's last policy decision of the year, Nathan,
President Trump once again took aim at Feder Reserve Chairman J.
Speaker 5 (01:40):
Powell.
Speaker 2 (01:40):
The President spoke at a rally in Pennsylvania.
Speaker 6 (01:43):
Well, checking this, you know, we have a bad head
of the FED bed We're going to be making a change.
Fortunately this guy soo.
Speaker 2 (01:50):
And President Trump says he has a quote pretty good
idea on who he wants to run the FED. The
President says he may wait until early next year to
publicly reveal the name.
Speaker 4 (01:59):
The economy was front and center at the President's rally.
He was out to address voters' concerns about the high
cost of living, telling the Mount Pocono crowd, people are
starting to see the benefits of tariffs.
Speaker 6 (02:11):
It's amazing. It's the smart people understand it. Other people
are starting to learn, but the smart people really understand it.
Speaker 4 (02:18):
The President says tariffs have allowed him to provide aid
to farmers and have forced manufacturers to build plants and
data centers in the US, And he says he inherited
high prices from the Biden administration.
Speaker 6 (02:29):
They say affordability, and everyone says, oh, that must mean
Trump has high prices. Now, our prices are coming down tremendously.
Speaker 4 (02:39):
And at one point during the rally, President Trump suggested
he could try to remove some FED governors if former
President Biden signed their commissions with an auto pen. President
Trump has criticized Biden's use of automatic signatures before presidents
have used them since at least the nineteen forties.
Speaker 2 (02:55):
Let's stick with politics here in Nathan. History has been
made in Miami. Eileen Higgins won the city may oral runoff.
She becomes the first woman ever and the first Democrat
in nearly three decades to lead Miami. Higin's peed a
Republican endorsed by President Trump. Higgin's victory adds to a
recent stretch of Democratic gains, including last month's wins in
New Jersey, and Virginia and zo orun Mom Donnie's victory
(03:17):
as New York mayor.
Speaker 4 (03:19):
In the nation's capital, kar and Senate Republicans are set
to vote on a plan this week to counter Democrats
push to extend expiring Affordable Care Act subsidies. We get
more from Bloomberg Zamy Morris.
Speaker 7 (03:30):
In Washington, Senate majority leader John Thunne promised Democrats a
vote to extend Obamacare premium tax credits in exchange for
reopening the government last month, but Republicans don't want to
vote against the extension without an alternative plan. This proposal
would offer people in some Affordable Care Act health plans
up to fifteen hundred dollars in health savings accounts, but
(03:51):
it also includes restrictions that could ruin Democratic support. Neither
the Republican nor Democratic plans are expected to get the
sixty votes needed for Senate passage, and healthcare costs for
more than twenty million people are set despite January first.
In Washington, Amy Morris Bloomberg Radio, All.
Speaker 2 (04:08):
Right, Amy, thank you now. We want to get the
latest on the war in Ukraine. President Trump is saying
Russia is in a stronger military position in the war
he took aim at European leaders for what he sees
as excessive dialogue that's produced few results. And here's part
of Donald Trump's exchange with Politico's Dasher Burns.
Speaker 6 (04:27):
They're not doing a good job. Europe is not doing
a good job. In many ways, they're not doing a
good job. I want to They talk too much and
they're not producing. We're talking about Ukraine. They talk, but
they don't produce, and the war just keeps going on
and on.
Speaker 2 (04:46):
Almost four years since Putin's full scale invasion of Ukraine,
the war has come at a huge cost for both sides,
more than one and a half million troops killed or wounded,
according to Western estimates.
Speaker 4 (04:57):
Well, now we want to turn care into a Bloomberg
News exclusive. A trove of emails reviewed by Bloomberg reveals
Jeffrey Epstein's financial ties on and off Wall Street were
broader than previously known. Let's get the details from Bloomberg's
John Tucker, Good Morning John.
Speaker 8 (05:12):
And Nathan akash At. More than eighteen thousand emails sent
to in front Epstein's private Yahoo account shows, even after
stories of Epstein's teenage victims spilled into the open Wall
Street continued to stay in touch. Some helped keep his
money machine turning. He had access to prestigious names in
global finance, including legendary Renaissance Technologies and the investment firm
(05:35):
a billionaire Carl ICoD. Just week samter Epstein was charged
with soliciting prostitution. For example, he received a coveted invitation
from wealth manager Greg Hirsch to invest with Renaissance. Epstein
jumped to the chance. Hersh who now runs his own office,
said through a spokesperson his interactions were solely professional and
ended in two thousand and seven.
Speaker 6 (05:57):
Well.
Speaker 8 (05:57):
Epstein even fielded requests for investments until his last week
of freedom in New York. I'm John Tucker Bloomberg Radio.
Speaker 2 (06:04):
All right, John, thank you. Well, there are some companies
in the news this morning, Paramount's guide and said Netflix,
the entertainment heavyweights so logging in a bidding war for
Warner Brothers Discovery are bracing for a battle that could
last months. Warner Brothers board is not planning to cancel
its merger agreement with Netflix, which would require a two
point eight billion dollar termination fee. And let's say that
(06:25):
now puts the onus on Paramount to make the next move. Meanwhile,
money manager Mariogabelli says it's quote highly likely he will
tender his client's Warner Brothers shares to paramount and an
effort to spark a bidding war for the film and
TV company.
Speaker 4 (06:38):
We're watching shares a JP Morgan chase this morning, Karen.
They're up about a tenth percent, but that followed a
drop yesterday at four point seven percent after the bank's
Maryann Lake said JP Morgan anticipates spending one hundred and
five billion dollars next year. That outlook was more than
analysts we're looking for.
Speaker 2 (06:56):
And SpaceX Nathan's moving ahead with plans for an initial
public offer a now would seek to ray significantly more
than thirty billion dollars. Sources say the Elon muss Lad
company is targeting a valuation of about one and a
half trillion for SpaceX, and Bloomberg Tech host ed Ludlow
has more.
Speaker 9 (07:12):
They do need capital, you know, Elon Musk has posted
a lot recently about their cash flow position why they
don't need cash. But what I understand from sources is
the reason they're targeting a arrays of more than thirty
billion dollars, significantly more than thirty billion dollars, is that,
alongside all of SpaceX's other long term goals with Starship
(07:33):
in particular, they are looking at the market potential of
space or constellation based data center satellites that act in
consolation and aggregate as data centers where SpaceX needs a
capital to buy the semiconductors by the Chips.
Speaker 2 (07:49):
And bloomberg Ed Ludlow says SpaceX is pursuing a listing
as soon as mid to late twenty twenty six. Time
now some of the other stories making news in New
York and around the world, and for that we're joined
by Bloomberg's and Michael Barr Michael good Morning.
Speaker 3 (08:05):
Good Morning, Karen. Accused United Healthcare CEO killer Luigi Mangione
was back in the Manhattan court Tuesday for pre trial
hearings on evidence taken when he was arrested in an Altoona, Pennsylvania,
fast food restaurant last year. The court saw body camera
video of his arrest from a year ago. Mangione's attorneys
(08:26):
claimed that police searched him illegally and are fighting to
get key evidence seized from him thrown out. New York
City Mayor elect Zoron Mamdani met with real estate leaders
and members of the Partnership for New York City to
tackle the city's issue of housing the homeless. Mamdannie says
they discussed how to remove roadblocks that make building new
(08:47):
units difficult and secure more federal aid for development.
Speaker 5 (08:51):
The question, however, is whether we will be satisfied by
just shuttling those New Yorkers to another equally cold place
in our city, or whether we want to connect them
to housing.
Speaker 3 (08:58):
One New York Subway Writers says many homeless end up
on trains. Get these people into proper facilities, not the subway.
It's dangerous to have actions.
Speaker 5 (09:08):
They could fall in the tracks, tents on the subway
with traffic rush.
Speaker 9 (09:12):
How is that going to work?
Speaker 3 (09:13):
Mayor electmam Donne sparked some controversy after his comments last
week saying that he would stop the NYPD from cracking
down on homeless encampments. A suspect is in constaday after
his shooting at Kentucky State University in Frankfort. Police say
Jacob Lee Bard of Evansville, Indiana is not a student
if already say Barred allegedly shot two students near a
(09:35):
residence hall. Scott Tracy is the assistant chief of the
Frankfort Police Department.
Speaker 10 (09:41):
They were quickly transported to a local hospital for treatment
by Frankfort Fire and EMS. Tragically, one has passed away
from injuries, the other remains in critical condition.
Speaker 3 (09:55):
Assistant Chief Tracy did not release a motive, except to
say it stemmed from a personal dispute. Global News twenty
four hours a day and whenever you want it with
Bloomberg News Now. I'm Michael laarm and this is Bloomberg Karen.
Speaker 5 (10:08):
Thanks Michael.
Speaker 2 (10:09):
Time now for our Bloomberg Sports Update, and for that
we bring in John stash Hour.
Speaker 11 (10:14):
Thanks Karen Orlando, and the next advance of the semifinals
of the NBA Cup. The Magic beat the Heat one
seventeen one oh eight. The Knicks one in Toronto won
seventeen one oh one. Jalen Brunton scare thirty five e
at twenty in the first quarter. Two big news items
for the baseball winner Meetium is Kyle Schwarber is staying
with the Phillies a five year deal for one hundred
and fifty million. It hit fifty six on ONNS last season,
(10:34):
and closer Edwin Diaz leaving the Mets to sign with
the world champion Dodgers. Forty four year old Philip Rivers
coming out of retirement to sign with the Colts. That's
to Bloomberg Sports Update.
Speaker 2 (10:45):
Stay with us more from Bloomberg day Break coming up
after this.
Speaker 1 (10:53):
Coast to coast on Bloomberg Radio, nationwide on Sirius XM,
and around the world on Bloomberg dot Com, home and
the Bloomberg Business app. This is Bloomberg day Break.
Speaker 4 (11:03):
Good morning, I'm Nathan Hager on the morning before the
final Federal reserve rate decision of twenty twenty five. Last
time we heard from FED Chair J Powell at the
October meeting, he was already talking about December. A further
reduction in the policy rate at the December meeting is
not a foregone conclusion.
Speaker 8 (11:22):
Far from it.
Speaker 4 (11:22):
Fast forward to today, markets do seem to think a
cut is a foregone conclusion. The question now is what next?
Joining us for more on this Bloomberg Markets reporter Valerie Titel,
And that really is the question, isn't at Valerie? So
many diverging views on what the Fed should be doing
into twenty twenty six.
Speaker 12 (11:40):
Good morning, Yeah, Good morning, Nathan, And just how will
Powell do. How will he succeed on managing a consensus
along this fractured committee. It is an unusually divided Fed
that we have at the moment. We have Stephen Myron
on one side clamoring for a faster pace of rate
cuts likely to dissent a larger jumbo fifty basis point
(12:02):
rate reduction today, and then on the more hawkish side,
we've had many regional FED presidents five in total who
have voiced some unnies about eight cutting rates here in December,
so we could be up for many of descents if
we get more than four, Nathan. That's something we've really
not seen in modern FED history. But Powell has done
(12:22):
a very good job as his tenure of FED chair
at managing a consensus, but today he'll really be put
to the test on that. To add to all of this,
there is still the division that has been exacerbated by
the lack of fresh economic data. The market and the
FED is still waiting for November CPI November non farm payrolls.
Really the last big set of data that they have
(12:44):
is all the way back in September before the government
shut down. So just how will he manage a consensus
around the fact that we are still in a data
fog that is unlikely to clear for another two weeks.
Speaker 4 (12:56):
So then what kind of message can we expect from
Chairman Powell when it signaling what the path for policy
could be into next year given that kind of fog.
Speaker 12 (13:05):
So I think the market is expecting him to sound
a little bit hawkish on next year. And the way
he could possibly do that in a very subtle way,
Nathan is by saying that, look, the last two FED
cuts were a risk management exercise, and now that risk
management exercise is coming to an end and we should
slow down our pace of rate cuts. He very much
(13:25):
framed the last two cuts in that way. It was
a risk management exercise to protect the labor market aside
from inflation being above target at that time. Perhaps he
will say that, you know, the risks to labor market
and the risk to inflation are more balanced at this decision,
and we need to slow down and wait for further
clarity on the data. That could be kind of a
hawkish hint to the market. But note, Nathan, the market
(13:49):
is already really they've already really priced in a more
hawkish FED today. If we look at how the money
markets are pricing in rate cuts for twenty twenty six.
Heard it back by quite a lot in the month
of December. We're only pricing in fifty basis points of
rate reductions in twenty twenty six. At the beginning of
December that number was closer to eighty basis points. We
(14:11):
have seen a decent pairback in what traders thinks the
Fed will do next year.
Speaker 2 (14:16):
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Speaker 4 (14:23):
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Speaker 2 (14:29):
You can also listen live each morning starting at five
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Speaker 7 (14:44):
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Speaker 4 (14:44):
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Speaker 2 (14:50):
And don't forget to subscribe to Bloomberg News Now.
Speaker 7 (14:52):
It's the latest.
Speaker 2 (14:53):
News whenever you want it in five minutes or less.
Search Bloomberg News Now on your favorite podcast platform to
stay in Performed all day long. I'm Karen Moscow.
Speaker 4 (15:03):
And I'm Nathan Hager. Join us again tomorrow morning for
all the news you need to start your day, right
here on Bloomberg.
Speaker 3 (15:08):
Dabraey
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