May 20, 2025 • 16 mins
On today's podcast:
1) Eleven days ago, European leaders took heart when President Donald Trump called for a 30-day ceasefire in Ukraine and threatened new sanctions on Russia. A telephone call with Vladimir Putin on Monday revealed those hopes were misplaced.
2) President Donald Trump plans to go to the Capitol on Tuesday to urge fractious House Republicans to overcome divisions and unite behind his signature tax-cut legislation.
3) Tackling the widening US fiscal deficit is a bigger issue than tariffs, which are likely to fade from view by the time of the midterm elections in Congress next year, according to Carlyle Group Inc. co-founder David Rubenstein.
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Episode Transcript
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Speaker 1 (00:02):
Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2 (00:10):
Good morning, I'm Nathan Hager and I'm Karen Moscow. Here
are the stories we're following today.
Speaker 3 (00:15):
Karen, we begin with the latest on efforts to end
the war in Ukraine. President Trump held a two hour
phone call yesterday with Russian President Vladimir Putin. He came
away from it saying both sides will immediately start negotiations,
but possibly without the US.
Speaker 4 (00:29):
The President talked about the call at the White House
last night.
Speaker 5 (00:33):
I think something is going to happen.
Speaker 6 (00:36):
It's a very big egos involved. I tell you, big
egos involved. But I think something's going to happen. And
if it doesn't, I just back away.
Speaker 4 (00:46):
And they're going to have to keep going.
Speaker 3 (00:47):
President Trump says the war should have remained a European situation.
At the same time, he says he's not ruling out
further sanctions on Russia, but he's not giving a timeline
for talks.
Speaker 4 (00:56):
We get more from Bloomberg's Pyotr Skolamowski.
Speaker 7 (00:59):
Trump the conversation as excellent. Putting talked about it being
frank and constructive. As a matter of fact, what was
produced was certain commitment for Russia and Ukraine to present
memorandums that will then go into four discussions. But what
Trump made clear is that he is effectively stepping away
as a broker in the conflict and trying to kind
(01:21):
of be a referee in bringing two sites together.
Speaker 3 (01:24):
Bloomberg's Pyotr Skolamowski reports President Trump also talked about the
Vatican as a possible host for peace negotiations.
Speaker 2 (01:31):
Now to the latest on the war in the Middle East,
Nathan Prime Minister Benjamin and Yahoo says Israel will take
over the entire Gaza strip and the military will carry
out a quote unprecedented attack on Hamas. The new developments
come as the leaders of France, Britain and Canada called
on Israel to stop its military operations in Gaza and
allow humanitarian aid to enter the territory. Here's a British
(01:54):
Prime Minister, Kiir Starmer.
Speaker 8 (01:56):
This is a really serious, unacceptable, intolerable situation and that's
why we are working intensely to coordinate with other leaders
how we respond to this.
Speaker 2 (02:06):
British Prime Minister Keir Starmer, Cutter's Prime Minister says Israel's
new Gaza offensive will prevent peace.
Speaker 3 (02:13):
Back in Washington, Karen. President Trump will be on Capitol
Hill later this morning. He'll be pressuring Republicans to put
their differences aside and get behind his big tax and
spending cut package. Plenty of disagreements remain, including on how
much to cut programs like Medicaid and food stamps, and
how much to raise the state and local tax deduction.
But how Speaker Mike Johnson says they're getting there.
Speaker 9 (02:35):
This is the arguably the largest and most confrehensive use
of legislation that Congress has worked on in probably generations
of one of the most in the history of the country.
There's a lot of moving parks and a lot of
preferences and ideas on how to.
Speaker 7 (02:47):
Handle all that.
Speaker 3 (02:48):
House Speaker Mike Johnson spoke after a late night meeting
with Republicans from high tax states. He is still hoping
for a vote on the package by the end of
the week, and we're going to hear more from Speaker
Johnson tomorrow he sits down with Bloomberg's Marie Hordern in Washington.
We'll bring you that conversation live at nine am Wall
Street Time on Bloomberg Radio and the Bloomberg Podcast page
on YouTube.
Speaker 2 (03:09):
Well if and it's back to normal this morning for
tens of thousands of rail commuters following a strike settlement
at New Jersey Transit, and we get the latest of
the Bloomberg's John Tucker, John, Good morning.
Speaker 4 (03:19):
Yeah, normal so far, Karen.
Speaker 10 (03:20):
The first scheduled train was number thirty eight oh six
that left Trenton just before four am and headed to
Newark and New York Penn Station. Now this morning is
the first time the trains are running in four days
after a walkout that started early Friday. New Jersey Transit
and the Train Engineers Union did reach a tenetive agreement
on Sunday, but it took at least a day to
inspect tracks and conduct safety checks. On its website this morning,
(03:44):
NJ Transit indicates all trains are on time and if
tickets or passes expired during the strike, they will still
be honored. And the state officials had asked commuters to
work from home during the strike of their presence in
the workplace was not considered essential. It's now the union's
job to go back in brief their members and put
the agreement up for ratification. The engineers had already voted
(04:05):
down a previous agreement, but New Jersey givenor Phil Murphy
says he has a high degree of confidence that the
engineers will find the new terms acceptable. In New York
on John Tucker Bloomberg.
Speaker 3 (04:15):
Radio, all right, John, thanks, many of those commuters are
headed to Wall Street this morning, they'll find futures headed lower.
Following yesterday's turnaround, Retail investors helped fuel the S and
P five hundred to another day of gains. We get
more from Bloomberg's Valery Titel.
Speaker 1 (04:30):
Thanks straight datas and gains for the s ME five hundred,
and we totally shrugged off the Moody's downgrade. I mean,
yesterday morning, at one point the sp was down one
point four percent in the futures. It totally reversed that
in the afternoon. I think the takeaway was that Moody's, frankly,
isn't telling us anything new. We already knew about the
interest expense, We already knew about this wide deficit of
(04:50):
the US government, And frankly, it just opened up a
dip buying opportunity.
Speaker 3 (04:55):
Bloomberg's Valerie Titel says individual investors purchased in at four
point one billion in US stocks through twelve thirty pm
in New York. That's the largest level ever for that
time of day. JP Morgan Chase says it broke the
four billion threshold by noon for the first time ever.
Speaker 2 (05:11):
Nathan Carlisle Group co founder David Rubinstein sees the US
deficit has a bigger issue than trade. At an event
hosted by the firm in Tokyo, the billionaire said the
US has been allowed to accumulate dead because the dollar
is the world's reserve currency. He said, quote, if we
don't get it under control, at some point, people will
become more nervous about the dollar as a reserve currency
(05:33):
and its stability. David Rubinstein also hosts peer to peer
conversations on Bloomberg Television and Karin.
Speaker 3 (05:39):
JP Morgan Chase CEO Jamie Diamond says elevated inflation and
stagflation are more likely than many think, and that today's
markets aren't pricing in the chance of a downturn. Diamond
spoke yesterday at JP Morgan's Investor.
Speaker 11 (05:52):
Day, you haven't seen in effective tariffs. The market came
down ten percent, it's back on ten percent. I think
that's an extraordinary amount of placency. That's my own view
that when I've seen all these things adding up that
are on the fringes of extreme kind of thing, I
don't think we could predict the outcome, And I think
there's a chance of inflation going up, and stagflation is
(06:13):
a little higer.
Speaker 12 (06:13):
Than other people think.
Speaker 3 (06:14):
By JP Morgan, Chase CEO Jamie Diamond predicts his bank
will be fine amid the market turbulence, the firm sticking
with its forecast for full year net interest income of
ninety four and a half billion dollars.
Speaker 2 (06:25):
We turn to the economy now, Nathan and Atlanta FED
President Raphael Bostik still expects the central Bank to deliver
one interest rate cut this year, but the timing will
depend heavily on trade policy. Bollstick told Bloomberg's Michael McKee
prolonged tariff negotiations could delay the Fed's next move.
Speaker 4 (06:44):
Things could go faster.
Speaker 13 (06:45):
It could be the case that these negotiations bear a
lot of fruit. We know what the numbers are and
they perhaps come in lower than people are expecting. In
that case, we may be able to pull forward some
of our actions because there may not be as much
that we need to do in terms of the Mountain,
the price level.
Speaker 2 (07:01):
Atlanta FED President Raphael Bostak spoke to Bloomberg at the
Atlanta Fed Annual Policy and Research event, and you can
watch the full conversation on the Bloomberg podcast page on YouTube.
And it's time now for it look at some of
the other stories making news in New York and around
the world, and for that we're joined by Bloomberg's Michael Barr.
Speaker 4 (07:21):
Michael, good Morning, Good morning, Karen.
Speaker 12 (07:23):
NTSB officials continue to investigate after a Mexican Navy tall
ship that crashed into the Brooklyn Bridge Saturday night, killing
two crew members. The ship was said to have lost
power before its masts hit the main span of the bridge.
NTSB member Michael Graham there is.
Speaker 8 (07:40):
No significant structural damage to the load bearing elements of
the bridge. There is some damage on one of the
travelers which they use to access and survey the bridge
at this point, but nothing structural from the bridge is
an issue at this plant.
Speaker 12 (07:57):
The NTSB's Michael Graham says the training who was carrying
nearly three hundred people. New Jersey's top federal prosecutor says
she is charging Democratic Representative Lamonica mcgiver with assault after
a skirmish with federal officers who arrested the mayor of
Newark outside and Immigration Detention Center. Interim US Attorney Alina
(08:18):
Haba also announced that her office is dismissing the misdemeanor
case brought against Newark Mayor ros Baraka. Tornadoes have been
reported from Oklahoma and Nebraska overnight as severe storms move
across the country. Bloomberg's Craig Allen has.
Speaker 14 (08:32):
More severe thunderstorms have been spawning tornadoes and producing baseball
sized hell moving out of the Central Plains and the
Mississippi Valley states and now going into the Lower Ohio
Valley as well as Tennessee Valley states. An enhanced risk
for over two hundred and fifty thousand square miles across
the east central portion of the US for today, and
(08:54):
nearly thirty million people will be under some kind of
severe thunderstorm or tornado watch at some point during the day.
Speaker 12 (09:01):
Bloomberg's Craig Allen singer Don Richard has told the jury
and the sex trafficking and racketeering trial of Sean Diddy
Combs that he threatened her with death if she told
anyone that she saw the influential hip hop promoter beat
his longtime girlfriend, the singer Cassie. Global News twenty four
hours a day and whenever you want it with the
Bloomberg News. Now, I'm Michael Barr, and this is Bloomberg Heart.
Speaker 2 (09:23):
All right, Michael Barr, thank you time now for the
Bloomberg Sports Update. Here's John Stashauer.
Speaker 4 (09:32):
John, good morning, Good morning there. And the Mets lost again.
Speaker 15 (09:35):
They are in a slump and they are no longer
in first place at Fenway Park. The Red Sox got
the Mets as code I singa early on another.
Speaker 16 (09:43):
Line, right bad one down, the right for you line
all the way the way, Dobias churing around thirties being
a way to do. He's gonna score in the third
base standing up with another triple, Jaron Durant to go
this dumble little first day and the suck so I'm
talking to.
Speaker 15 (10:00):
Nothing, yess In the car Red Sox led three to
one third inning. There was no scoring after that. Metsov
lost four their last five. They are under five hundred
on the road and under five hundred over their last
twenty three games. And when the Phillies won at Colorado,
the Phils moved ahead of the Mets in the NLA's
Juan Soto is batting just two forty six.
Speaker 17 (10:19):
Think it's part of the game, is an all was
gonna be uh great. You know who's gonna hop up
and downs. Who's just got to keep our chin up
and keep moving forward. You know, it's a game of failure.
Sometimes you've gotta fail and you just gotta keep moving forward.
Speaker 15 (10:33):
Sodo has only driven in twenty runs with the Yankees.
Last season, they drove in one hundred and nine Yankees
at the stadium tonight to play Texas. The NBA Tonight
has Game one in the West, the NHL as the
opener in the East. Mix and Facers get going tomorrow
at the Guard in the ninth playoff series between the
two teams. Indiana has won five of the eight, including
last year when the next season ended with a Game
(10:54):
seven loss at MSG. Philadelphia Eagles just won the Super Bowl.
They have awarded coach Nick Sirianni with a contract extension.
The Eagles have also rehired to their front office Joe Douglas,
who left Philly when it became general manager of the Jets.
The Eagles are pushing NFL teams did not get rid
of the tush push the play Philly has perfected but
got tabled last month and may get banned this week
(11:17):
when NFL owners meet in Minnesota. For the play to
be no longer allowed, twenty four of the thirty two
teams need to vote, to Bannett John Stashley that we're
Bloomberg Sports Karen Nathan.
Speaker 12 (11:29):
Coast to Coast on Bloomberg Radio nationwide on Serious Exam and.
Speaker 15 (11:33):
Around the world on Bloomberg dot Com and the Bloomberg
Business app.
Speaker 4 (11:38):
This is Bloomberg Daybreak. Good morning, I'm Nathan Hager.
Speaker 3 (11:41):
It was just a few days ago President Trump was
calling for new sanctions on Russia if President Vladimir Putin
would not agree to a thirty day ceasefire with Ukraine. Now,
after a two hour phone call with the Russian leader,
the President is airing more frustrations with the process.
Speaker 6 (11:57):
This was a European situation. It should have remained a
European situation. Should have remain what we have because the
past administration felt very strongly that we should be involved,
and we get involved much more than Europe did.
Speaker 3 (12:13):
That was President Trump, speaking at the White House hours
after his Putin call for more We were joined this
morning by Rosalind Mathis and Bloomberg's news director for Europe,
the Middle East and Africa, Roz if we take the
president of this word that it should have been a
European situation, what's the feeling in Europe about where things
stand now between Russia and Ukraine after this call?
Speaker 4 (12:31):
Good morning, good morning.
Speaker 5 (12:33):
Well, it certainly seems like Donald Trump at this point
is saying, in fact that he's punting this over to
Europe to handle, in that he's not going to be
directly mediating conversations around the seas far between Russia and Ukraine,
and he wants this to happen, but he wants others
to be sorting it from here. The question is can
(12:54):
Europe actually do this? I mean, it's very difficult for Europe,
which has been a bit sidelined for months in these
conversations and certainly to be getting in the middle with
Russia on this one. And so the big question for
Europe and for Russia and for Ukraine particularly now is
what is the path forward to direct talks between Russia
(13:15):
and Ukraine. Can those talks happen, where would they happen,
under what parameters might they happen, what level of officials
would be there, and who's going to arrange all of
that now, like who is the go between for Russia
and Ukraine to make this happen if the US is
withdrawing a bit, as per Donald Trump's comments or indications
(13:37):
rather yesterday, and so for Europe probably a lot of
disappointment at how those calls went. That Trump did not
increase the pressure, if anything, on Vladimir Putin, did not
talk about sanctioning Russia potentially, and they were hoping that
he would lean heavily on Vladimir Putin to get to
the table, and that didn't happen. And so now is
(13:57):
the question is how is this going to move forward?
And again who's going to be able to drive it forward?
Speaker 3 (14:02):
Well before this cal raz President Trump had said nothing
was going to happen until he gets face to face
with Vladimir Putin.
Speaker 4 (14:10):
Is the implication that that's off the table now? Well, actually, he.
Speaker 5 (14:14):
Indicated he's still quite happy to meet the Russian leader
and vice versa, that at some point the two of
them do want to find a way to sit down together.
But perhaps that conversation, while touching on Ukraine, would also
be about a bunch of other matters, and most particularly increasingly,
it seems about the bilateral relationship between the US and Russia,
including economic ties, investment ties, trade ties, business ties, and
(14:40):
all that kind of stuff. And so it'd be a
lot more about the direct relationship between the US and
Russia going forward from a business perspective, versus being a
big meeting to set the parameters again for Ukraine going forward.
So he's still talking about wanting to meet Vladimir Putin,
and again Vladimir Putin seems open to that, but the
nature of that conversation might end up being quite different.
Speaker 3 (15:03):
Just thirty seconds left, Rose of the Republican Senator Lindsey
Graham had talked about bone crushing sanctions on Russia.
Speaker 4 (15:09):
Things didn't move forward. Is that still on the table?
Speaker 5 (15:12):
Well, certainly from what Don Trump was saying yesterday, it
seems not or there's not going to be a big
amount of push coming from the US to put sanctions,
further sanctions on Russia, increase that pressure on Russia in
the near term. Mean, Don Trump did say he doesn't
rule out that happening at some point, but he didn't
indicate is any rush to do so. And that leaves
Europe again increasing some of the sanctions on Russia from there,
(15:34):
but without the US leverage, which is arguably perhaps more
significant on Russia on the economic side. Again, those sanctions
may not have so much of an impact in terms
of potentially altering the cause for Vladimir Putin or his behavior.
Speaker 2 (15:48):
This is Bloomberg Daybreak, your morning podcast on the stories
making news from Wall Street to Washington and beyond.
Speaker 3 (15:54):
Look for us on your podcast feed by six am
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Speaker 2 (16:00):
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 3 (16:15):
Plus listen coast to coast on the Bloomberg Business app
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Speaker 2 (16:21):
And don't forget to subscribe to Bloomberg News Now. It's
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Speaker 3 (16:33):
I'm Karen Moscow, 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 (00:10):
Good morning, I'm Nathan Hager and I'm Karen Moscow. Here
are the stories we're following today.
Speaker 3 (00:15):
Karen, we begin with the latest on efforts to end
the war in Ukraine. President Trump held a two hour
phone call yesterday with Russian President Vladimir Putin. He came
away from it saying both sides will immediately start negotiations,
but possibly without the US.
Speaker 4 (00:29):
The President talked about the call at the White House
last night.
Speaker 5 (00:33):
I think something is going to happen.
Speaker 6 (00:36):
It's a very big egos involved. I tell you, big
egos involved. But I think something's going to happen. And
if it doesn't, I just back away.
Speaker 4 (00:46):
And they're going to have to keep going.
Speaker 3 (00:47):
President Trump says the war should have remained a European situation.
At the same time, he says he's not ruling out
further sanctions on Russia, but he's not giving a timeline
for talks.
Speaker 4 (00:56):
We get more from Bloomberg's Pyotr Skolamowski.
Speaker 7 (00:59):
Trump the conversation as excellent. Putting talked about it being
frank and constructive. As a matter of fact, what was
produced was certain commitment for Russia and Ukraine to present
memorandums that will then go into four discussions. But what
Trump made clear is that he is effectively stepping away
as a broker in the conflict and trying to kind
(01:21):
of be a referee in bringing two sites together.
Speaker 3 (01:24):
Bloomberg's Pyotr Skolamowski reports President Trump also talked about the
Vatican as a possible host for peace negotiations.
Speaker 2 (01:31):
Now to the latest on the war in the Middle East,
Nathan Prime Minister Benjamin and Yahoo says Israel will take
over the entire Gaza strip and the military will carry
out a quote unprecedented attack on Hamas. The new developments
come as the leaders of France, Britain and Canada called
on Israel to stop its military operations in Gaza and
allow humanitarian aid to enter the territory. Here's a British
(01:54):
Prime Minister, Kiir Starmer.
Speaker 8 (01:56):
This is a really serious, unacceptable, intolerable situation and that's
why we are working intensely to coordinate with other leaders
how we respond to this.
Speaker 2 (02:06):
British Prime Minister Keir Starmer, Cutter's Prime Minister says Israel's
new Gaza offensive will prevent peace.
Speaker 3 (02:13):
Back in Washington, Karen. President Trump will be on Capitol
Hill later this morning. He'll be pressuring Republicans to put
their differences aside and get behind his big tax and
spending cut package. Plenty of disagreements remain, including on how
much to cut programs like Medicaid and food stamps, and
how much to raise the state and local tax deduction.
But how Speaker Mike Johnson says they're getting there.
Speaker 9 (02:35):
This is the arguably the largest and most confrehensive use
of legislation that Congress has worked on in probably generations
of one of the most in the history of the country.
There's a lot of moving parks and a lot of
preferences and ideas on how to.
Speaker 7 (02:47):
Handle all that.
Speaker 3 (02:48):
House Speaker Mike Johnson spoke after a late night meeting
with Republicans from high tax states. He is still hoping
for a vote on the package by the end of
the week, and we're going to hear more from Speaker
Johnson tomorrow he sits down with Bloomberg's Marie Hordern in Washington.
We'll bring you that conversation live at nine am Wall
Street Time on Bloomberg Radio and the Bloomberg Podcast page
on YouTube.
Speaker 2 (03:09):
Well if and it's back to normal this morning for
tens of thousands of rail commuters following a strike settlement
at New Jersey Transit, and we get the latest of
the Bloomberg's John Tucker, John, Good morning.
Speaker 4 (03:19):
Yeah, normal so far, Karen.
Speaker 10 (03:20):
The first scheduled train was number thirty eight oh six
that left Trenton just before four am and headed to
Newark and New York Penn Station. Now this morning is
the first time the trains are running in four days
after a walkout that started early Friday. New Jersey Transit
and the Train Engineers Union did reach a tenetive agreement
on Sunday, but it took at least a day to
inspect tracks and conduct safety checks. On its website this morning,
(03:44):
NJ Transit indicates all trains are on time and if
tickets or passes expired during the strike, they will still
be honored. And the state officials had asked commuters to
work from home during the strike of their presence in
the workplace was not considered essential. It's now the union's
job to go back in brief their members and put
the agreement up for ratification. The engineers had already voted
(04:05):
down a previous agreement, but New Jersey givenor Phil Murphy
says he has a high degree of confidence that the
engineers will find the new terms acceptable. In New York
on John Tucker Bloomberg.
Speaker 3 (04:15):
Radio, all right, John, thanks, many of those commuters are
headed to Wall Street this morning, they'll find futures headed lower.
Following yesterday's turnaround, Retail investors helped fuel the S and
P five hundred to another day of gains. We get
more from Bloomberg's Valery Titel.
Speaker 1 (04:30):
Thanks straight datas and gains for the s ME five hundred,
and we totally shrugged off the Moody's downgrade. I mean,
yesterday morning, at one point the sp was down one
point four percent in the futures. It totally reversed that
in the afternoon. I think the takeaway was that Moody's, frankly,
isn't telling us anything new. We already knew about the
interest expense, We already knew about this wide deficit of
(04:50):
the US government, And frankly, it just opened up a
dip buying opportunity.
Speaker 3 (04:55):
Bloomberg's Valerie Titel says individual investors purchased in at four
point one billion in US stocks through twelve thirty pm
in New York. That's the largest level ever for that
time of day. JP Morgan Chase says it broke the
four billion threshold by noon for the first time ever.
Speaker 2 (05:11):
Nathan Carlisle Group co founder David Rubinstein sees the US
deficit has a bigger issue than trade. At an event
hosted by the firm in Tokyo, the billionaire said the
US has been allowed to accumulate dead because the dollar
is the world's reserve currency. He said, quote, if we
don't get it under control, at some point, people will
become more nervous about the dollar as a reserve currency
(05:33):
and its stability. David Rubinstein also hosts peer to peer
conversations on Bloomberg Television and Karin.
Speaker 3 (05:39):
JP Morgan Chase CEO Jamie Diamond says elevated inflation and
stagflation are more likely than many think, and that today's
markets aren't pricing in the chance of a downturn. Diamond
spoke yesterday at JP Morgan's Investor.
Speaker 11 (05:52):
Day, you haven't seen in effective tariffs. The market came
down ten percent, it's back on ten percent. I think
that's an extraordinary amount of placency. That's my own view
that when I've seen all these things adding up that
are on the fringes of extreme kind of thing, I
don't think we could predict the outcome, And I think
there's a chance of inflation going up, and stagflation is
(06:13):
a little higer.
Speaker 12 (06:13):
Than other people think.
Speaker 3 (06:14):
By JP Morgan, Chase CEO Jamie Diamond predicts his bank
will be fine amid the market turbulence, the firm sticking
with its forecast for full year net interest income of
ninety four and a half billion dollars.
Speaker 2 (06:25):
We turn to the economy now, Nathan and Atlanta FED
President Raphael Bostik still expects the central Bank to deliver
one interest rate cut this year, but the timing will
depend heavily on trade policy. Bollstick told Bloomberg's Michael McKee
prolonged tariff negotiations could delay the Fed's next move.
Speaker 4 (06:44):
Things could go faster.
Speaker 13 (06:45):
It could be the case that these negotiations bear a
lot of fruit. We know what the numbers are and
they perhaps come in lower than people are expecting. In
that case, we may be able to pull forward some
of our actions because there may not be as much
that we need to do in terms of the Mountain,
the price level.
Speaker 2 (07:01):
Atlanta FED President Raphael Bostak spoke to Bloomberg at the
Atlanta Fed Annual Policy and Research event, and you can
watch the full conversation on the Bloomberg podcast page on YouTube.
And it's time now for it look at some of
the other stories making news in New York and around
the world, and for that we're joined by Bloomberg's Michael Barr.
Speaker 4 (07:21):
Michael, good Morning, Good morning, Karen.
Speaker 12 (07:23):
NTSB officials continue to investigate after a Mexican Navy tall
ship that crashed into the Brooklyn Bridge Saturday night, killing
two crew members. The ship was said to have lost
power before its masts hit the main span of the bridge.
NTSB member Michael Graham there is.
Speaker 8 (07:40):
No significant structural damage to the load bearing elements of
the bridge. There is some damage on one of the
travelers which they use to access and survey the bridge
at this point, but nothing structural from the bridge is
an issue at this plant.
Speaker 12 (07:57):
The NTSB's Michael Graham says the training who was carrying
nearly three hundred people. New Jersey's top federal prosecutor says
she is charging Democratic Representative Lamonica mcgiver with assault after
a skirmish with federal officers who arrested the mayor of
Newark outside and Immigration Detention Center. Interim US Attorney Alina
(08:18):
Haba also announced that her office is dismissing the misdemeanor
case brought against Newark Mayor ros Baraka. Tornadoes have been
reported from Oklahoma and Nebraska overnight as severe storms move
across the country. Bloomberg's Craig Allen has.
Speaker 14 (08:32):
More severe thunderstorms have been spawning tornadoes and producing baseball
sized hell moving out of the Central Plains and the
Mississippi Valley states and now going into the Lower Ohio
Valley as well as Tennessee Valley states. An enhanced risk
for over two hundred and fifty thousand square miles across
the east central portion of the US for today, and
(08:54):
nearly thirty million people will be under some kind of
severe thunderstorm or tornado watch at some point during the day.
Speaker 12 (09:01):
Bloomberg's Craig Allen singer Don Richard has told the jury
and the sex trafficking and racketeering trial of Sean Diddy
Combs that he threatened her with death if she told
anyone that she saw the influential hip hop promoter beat
his longtime girlfriend, the singer Cassie. Global News twenty four
hours a day and whenever you want it with the
Bloomberg News. Now, I'm Michael Barr, and this is Bloomberg Heart.
Speaker 2 (09:23):
All right, Michael Barr, thank you time now for the
Bloomberg Sports Update. Here's John Stashauer.
Speaker 4 (09:32):
John, good morning, Good morning there. And the Mets lost again.
Speaker 15 (09:35):
They are in a slump and they are no longer
in first place at Fenway Park. The Red Sox got
the Mets as code I singa early on another.
Speaker 16 (09:43):
Line, right bad one down, the right for you line
all the way the way, Dobias churing around thirties being
a way to do. He's gonna score in the third
base standing up with another triple, Jaron Durant to go
this dumble little first day and the suck so I'm
talking to.
Speaker 15 (10:00):
Nothing, yess In the car Red Sox led three to
one third inning. There was no scoring after that. Metsov
lost four their last five. They are under five hundred
on the road and under five hundred over their last
twenty three games. And when the Phillies won at Colorado,
the Phils moved ahead of the Mets in the NLA's
Juan Soto is batting just two forty six.
Speaker 17 (10:19):
Think it's part of the game, is an all was
gonna be uh great. You know who's gonna hop up
and downs. Who's just got to keep our chin up
and keep moving forward. You know, it's a game of failure.
Sometimes you've gotta fail and you just gotta keep moving forward.
Speaker 15 (10:33):
Sodo has only driven in twenty runs with the Yankees.
Last season, they drove in one hundred and nine Yankees
at the stadium tonight to play Texas. The NBA Tonight
has Game one in the West, the NHL as the
opener in the East. Mix and Facers get going tomorrow
at the Guard in the ninth playoff series between the
two teams. Indiana has won five of the eight, including
last year when the next season ended with a Game
(10:54):
seven loss at MSG. Philadelphia Eagles just won the Super Bowl.
They have awarded coach Nick Sirianni with a contract extension.
The Eagles have also rehired to their front office Joe Douglas,
who left Philly when it became general manager of the Jets.
The Eagles are pushing NFL teams did not get rid
of the tush push the play Philly has perfected but
got tabled last month and may get banned this week
(11:17):
when NFL owners meet in Minnesota. For the play to
be no longer allowed, twenty four of the thirty two
teams need to vote, to Bannett John Stashley that we're
Bloomberg Sports Karen Nathan.
Speaker 12 (11:29):
Coast to Coast on Bloomberg Radio nationwide on Serious Exam and.
Speaker 15 (11:33):
Around the world on Bloomberg dot Com and the Bloomberg
Business app.
Speaker 4 (11:38):
This is Bloomberg Daybreak. Good morning, I'm Nathan Hager.
Speaker 3 (11:41):
It was just a few days ago President Trump was
calling for new sanctions on Russia if President Vladimir Putin
would not agree to a thirty day ceasefire with Ukraine. Now,
after a two hour phone call with the Russian leader,
the President is airing more frustrations with the process.
Speaker 6 (11:57):
This was a European situation. It should have remained a
European situation. Should have remain what we have because the
past administration felt very strongly that we should be involved,
and we get involved much more than Europe did.
Speaker 3 (12:13):
That was President Trump, speaking at the White House hours
after his Putin call for more We were joined this
morning by Rosalind Mathis and Bloomberg's news director for Europe,
the Middle East and Africa, Roz if we take the
president of this word that it should have been a
European situation, what's the feeling in Europe about where things
stand now between Russia and Ukraine after this call?
Speaker 4 (12:31):
Good morning, good morning.
Speaker 5 (12:33):
Well, it certainly seems like Donald Trump at this point
is saying, in fact that he's punting this over to
Europe to handle, in that he's not going to be
directly mediating conversations around the seas far between Russia and Ukraine,
and he wants this to happen, but he wants others
to be sorting it from here. The question is can
(12:54):
Europe actually do this? I mean, it's very difficult for Europe,
which has been a bit sidelined for months in these
conversations and certainly to be getting in the middle with
Russia on this one. And so the big question for
Europe and for Russia and for Ukraine particularly now is
what is the path forward to direct talks between Russia
(13:15):
and Ukraine. Can those talks happen, where would they happen,
under what parameters might they happen, what level of officials
would be there, and who's going to arrange all of
that now, like who is the go between for Russia
and Ukraine to make this happen if the US is
withdrawing a bit, as per Donald Trump's comments or indications
(13:37):
rather yesterday, and so for Europe probably a lot of
disappointment at how those calls went. That Trump did not
increase the pressure, if anything, on Vladimir Putin, did not
talk about sanctioning Russia potentially, and they were hoping that
he would lean heavily on Vladimir Putin to get to
the table, and that didn't happen. And so now is
(13:57):
the question is how is this going to move forward?
And again who's going to be able to drive it forward?
Speaker 3 (14:02):
Well before this cal raz President Trump had said nothing
was going to happen until he gets face to face
with Vladimir Putin.
Speaker 4 (14:10):
Is the implication that that's off the table now? Well, actually, he.
Speaker 5 (14:14):
Indicated he's still quite happy to meet the Russian leader
and vice versa, that at some point the two of
them do want to find a way to sit down together.
But perhaps that conversation, while touching on Ukraine, would also
be about a bunch of other matters, and most particularly increasingly,
it seems about the bilateral relationship between the US and Russia,
including economic ties, investment ties, trade ties, business ties, and
(14:40):
all that kind of stuff. And so it'd be a
lot more about the direct relationship between the US and
Russia going forward from a business perspective, versus being a
big meeting to set the parameters again for Ukraine going forward.
So he's still talking about wanting to meet Vladimir Putin,
and again Vladimir Putin seems open to that, but the
nature of that conversation might end up being quite different.
Speaker 3 (15:03):
Just thirty seconds left, Rose of the Republican Senator Lindsey
Graham had talked about bone crushing sanctions on Russia.
Speaker 4 (15:09):
Things didn't move forward. Is that still on the table?
Speaker 5 (15:12):
Well, certainly from what Don Trump was saying yesterday, it
seems not or there's not going to be a big
amount of push coming from the US to put sanctions,
further sanctions on Russia, increase that pressure on Russia in
the near term. Mean, Don Trump did say he doesn't
rule out that happening at some point, but he didn't
indicate is any rush to do so. And that leaves
Europe again increasing some of the sanctions on Russia from there,
(15:34):
but without the US leverage, which is arguably perhaps more
significant on Russia on the economic side. Again, those sanctions
may not have so much of an impact in terms
of potentially altering the cause for Vladimir Putin or his behavior.
Speaker 2 (15:48):
This is Bloomberg Daybreak, your morning podcast on the stories
making news from Wall Street to Washington and beyond.
Speaker 3 (15:54):
Look for us on your podcast feed by six am
Eastern each morning, on Apple, Spotify, or many else you listen.
Speaker 2 (16:00):
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 (16:15):
Plus listen coast to coast on the Bloomberg Business app
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Speaker 2 (16:21):
And don't forget to subscribe to Bloomberg News Now. It's
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Speaker 3 (16:33):
I'm Karen Moscow, 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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