August 4, 2025 • 16 mins
On today's podcast:
1) President Donald Trump said he will announce a new Federal Reserve governor and a new jobs data statistician in the coming days, two appointments that may shape his economic agenda amid anxiety over the trajectory of global growth.
2) Workers at Boeing Co.’s St. Louis-area defense factories are striking for the first time in almost three decades after union members rejected the company’s modified contract offer.
3) US Trade Representative Jamieson Greer sounded a cautiously optimistic note on discussions with China on rare earth flows, following trade talks that further steadied ties between the economies.
See omnystudio.com/listener for privacy information.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
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, this could be a big week when it comes
to economic personnel. President Trump says he will announce a
new Federal Reserve governor and a new jobs data statistician
in the coming days. On Friday, one of the FED
seven governors, Adriana Kugler, said she intends to step down early.
On his way back to the White House for a
weekend in Bedminster, New Jersey, the President said he would
(00:36):
be filling Coogler's seat soon.
Speaker 4 (00:38):
No, I have a couple of people in mind. I'll
be announcing somebody for the filling of the person that left.
A woman left, as you know, who is a I
guess a Biden appointment, either Biden or Obama, but I
think a Biden appointment.
Speaker 1 (00:54):
And she left early.
Speaker 4 (00:54):
And I think she left because she agreed with me
on interest rates, and yet they were on the other
side of the ball, right. So I'll be announcing that
probably over the next couple of days.
Speaker 3 (01:05):
With FED Governor Adriana Kugler's departure, President Trump now has
the opportunity to appoint a governor who more closely aligns
with his preference for lower interest rates.
Speaker 5 (01:14):
Well Nathan.
Speaker 2 (01:15):
The changes on the Fed Board come as a major negative.
Revision to jobs data has upended views on the weakness
of the labor market. The revised figures make the past
three months the worst for job creation since the pandemic.
After the report, the White House fire the Bureau of
Labor Statistics boss Erica mcintarfer. Whitehouse National Economic Council Director
(01:35):
Kevin Hassett said the firing was because the revision was
poorly explained.
Speaker 6 (01:40):
The President wants his own people there so that when
we see the numbers, they're more transparent and more reliable.
And if there are big changes in big revisions, we
expect more big revisions for the job data in September,
for example. Then we want to know why. We want
people to explain it to us.
Speaker 2 (01:55):
Kevin Hasset made the comments on NBC's Meet the Press,
and you can catch the program every sun day right
here on Bloomberg Radio.
Speaker 3 (02:02):
This morning, Karen, workers at Boeing Saint Louis area defense
factories are on strike for the first time in almost
three decades. The walkout by almost thirty two hundred machinists
come after union members rejected Boeing's modified contract offer. Julie
Johnson covers the company for Bloomberg.
Speaker 7 (02:19):
Boeing Defense in Space has built fighter jets in Saint
Louis for a very long time. They also support some
of the commercial jet programs out of there, but it's
primarily military aircraft and munitions and missiles are also built there.
Speaker 3 (02:34):
Bloomberg's Julie Johnson says Boeing's offer would have raised wages
by twenty percent and boosted retirement contributions. The last time
the union went on strike was nineteen ninety six. That
stoppage lasted ninety nine days. This morning's shares of Boeing
are down a half percent, well Nathan.
Speaker 2 (02:49):
In Europe, UBS shares are down about seven tenths of
Upper sent the Swiss banking group a great to pay
three hundred million dollars to settle a mortgage related case
with a US Department of Justice London and get the
latest with Bloombery's Caroline Hegger.
Speaker 8 (03:03):
It's another item ticked off UBS's list of legal issues,
partly inherited from Credit Suez, the bank that it rescued
in twenty twenty three. In a statement, UBS says this
three hundred billion dollar payment will resolve all the outstanding
payments from a settlement that was reached in twenty seventeen
from residential mortgage backed securities dating back to two thousand
(03:25):
and six seven. EBS says that it expects this to
have a positive impact on its third quarter results, as
it will be able to release a contingency liability. The
agreement closes UBS's biggest US legal headache. In London, callin
hepgar Bloomberg Radio.
Speaker 3 (03:42):
Okay, Caroline, thank you. Let's get to the latest on trade.
The US and China have eight days until their tariff
truce expires. US Trade Representative Jamison Greer is sounding cautiously
optimistic after last week's talks in Stockholm. He says rare
earths were a key topic in the discussions for.
Speaker 9 (03:57):
The United States. We're focused on making sure that the
flow of magnets from China to the United States and
the adjacent supply chain can flow as freely as it
did before the control and I'd say we're about halfway there.
Speaker 3 (04:10):
US Trade Representative Jamison Griertel CBS has faced the Nation.
It will be up to President Trump whether to extend
the tariff truce with China beyond August twelfth. Face the
Nation can be heard every Sunday on Bloomberg Radio.
Speaker 2 (04:21):
Nathan now to a political issue in Texas that's caught
the nation's attention. Democratic lawmakers in the Lone Star state
have left the state to keep Republicans from redrawing their
congressional map. Last month, the Justice Department determined four of
Texas's House districts were racially jerrymandered. President Trump then called
and Republicans to redraw the map to add five GOP
(04:41):
seats ahead of next year's midterms. Democratic Illinois Governor JB.
Pritzker is blessing the Republicans.
Speaker 10 (04:48):
Trump came up with a new scheme rig the system
by ramming through a corrupt mid decade redistricting plan that
would steal five congressional seats, silencing millions of voices, especially.
Speaker 11 (05:01):
Black and Latino votes. Let's be clear, this is not
just rigging the system in Texas. It's about rigging the
system against the rights of all Americans.
Speaker 2 (05:11):
Illinois Governor JB. Pritzker spoke at a news conference alongside
many of the Texas Democrats saface fines of five hundred
dollars a day for leaving the state legislature short of
a quorum. Texas Governor Greg Abbott says a court could
decide whether the lawmakers have abandoned their office, allowing him
to swiftly replace them. State Attorney General Ken Paxton posted
on x that the lawmakers should be arrested and brought
(05:34):
back to the capital.
Speaker 3 (05:35):
Let's turn back to the markets now, Karen. Futures are
higher as we kick off the trading week. On Friday,
stocks sold off after the week jobs data. The S
and P five hundred fell one point six percent, while
the Nasdaq lost two and a quarter percent. Morgan Stanley
is recommending investors buy stocks on any pullbacks. In a note,
strategist Mike Wilson said, quote, We're buyers of pullbacks and
(05:56):
bullish the next twelve months end quote. He added that
he thinks the Fed will eventually transition to interest rate cuts.
Speaker 2 (06:03):
Well Nathan stocks in Switzerland and falling half a percent
on concerns President Trump's punitive thirty nine percent export tariff
on the country will denned corporate profits. The market was
closed Friday, for all holiday, so prices had not yet
reflected the tariffs or the President's push for drug makers
to lower prices.
Speaker 3 (06:21):
And Karen Oil is down more than one percent this morning.
OPEC Plus has closed a two year chapter in its
oil strategy, completing a series of oil production increases, but
delegates emphasized that the next move could be a cut
or a hike.
Speaker 2 (06:39):
Time now for 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 John Tucker. John, Good Morning,
Good morning.
Speaker 12 (06:46):
Karen. Blackstone reopening its New York headquarters this morning after
keeping the office shuttered the wake of that shooting spree
that killed four people, including one of its senior executives
last week. The world's biggest alternal advansset manager also gave
to have the option to work remotely for the entire week.
Official to say it was a miracle nobody was hurt.
A large concrete and steel awning collapsed onto the sidewalk
(07:08):
in Brooklyn Sunday. The yawning connected to the Hotel Saint George,
which opened more than one hundred years ago. A three
point zero magnitude earthquake shook out the area outside New
York City Saturday night, with the epicenter rooted in Hasburg Heights,
New Jersey. People across the tri state area reported feeling
tremor shortly after ten pm.
Speaker 13 (07:27):
We're we're seeing my living room in the whole house shoke.
Speaker 12 (07:31):
Nobody was hurt. Republican hopes of holding on to power
in the Senate after the twenty twenty six midterms are
receiving a boost from powerful, well funded super packs. That
story from Bloomberg's Amy Morris.
Speaker 5 (07:43):
New filings show large sums of cash flowing to aid
Republican candidates in states including South Carolina, Louisiana, Florida, Michigan,
and Maine. Superpacks may play a significant role in influencing
the outcome of the twenty twenty six primaries and general elections,
when control of the House and the Senate are up
for grabs. In other FEC filings, Elon Musk donated five
(08:06):
million dollars apiece to the Congressional Leadership Fund and Senate
Leadership Fund, which aid House and Senate Republicans respectively. In Washington,
Amy Morris, Bloomberg Radio.
Speaker 13 (08:18):
I'm a WKRP.
Speaker 12 (08:20):
And Simpson Lannie Anderson, best known for her role on
the radio station sitcom WKRP in Cincinnati, has died. She
was seventy nine. Her publicist said she died Sunday in
Los Angeles after in acute prolonged illness. Global News twenty
four hours Day and whenever you want it with Bloomberg
News Now, I'm John Tucker. Vic's Bloomberg Karen.
Speaker 2 (08:42):
All right, John Tucker, thank you time now for the
Bloomberg Spores update. Here's John stash Hour, John, good.
Speaker 14 (08:52):
Morning, you want to care?
Speaker 2 (08:53):
In?
Speaker 14 (08:53):
The Miami Marlins had previous series wins with the Yankees.
In fact, they once won a World Series from them,
but they had never swept. The Yanks had that wild
thirteen to twelve win Friday night, two nothing shut out Saturday,
and then they got to Luis Heel early on spoiling
Heels season debut. Later put the game away.
Speaker 15 (09:12):
That's a shot deep right field, quick back his belcher,
He looks up and it's gone. Kyle Stowers has done
it again, this time a three run shot off the left, six.
Speaker 14 (09:26):
One Miami on Marlins TV. Miami won seven to three.
To spite the difference in payroll, the Yankees is more
than double the sweep not all that surprising. Since June thirteenth,
the Marlins record is thirty and fourteen. The Yankees record
in that time is eighteen and twenty seven. Are now
in third place. Red Sox a weekend sweep at Fenway.
The West leading Astro Socks won six to one behind
(09:48):
Lucas Giolito gave up just three hits. He's now eight
and two at City Field and ex Red Sock dd
damage to the Mets.
Speaker 16 (09:54):
He swashes out on the right field. Oh my goodness,
headed for those second duck, a three run Classic Devers
home run, and it's four to one Giants and he
is floating around the bases. That's big boy, big boy
to end.
Speaker 2 (10:15):
Wow.
Speaker 14 (10:16):
Giants TV calling the Raffie Devers homer. Day after the
Mets won twelve to six. The Giants won twelve to four,
but Phillies topp Detroit two to nothing in the Phils
takeover first place. The first ever MLB game in Tennessee
and the first of a NASCAR track postponed from Saturday
due to ragin announced crown of ninety one thousand, so
the Braves beat the Red Spot to two. The Wyndham
(10:37):
golf in Greensboro, won by American Cam Young. He finished
twenty two under par, one by six shots at one point,
led by nine. It's his first PGA win. John Station
went Bloomberg Sports.
Speaker 1 (10:50):
Coast to coast on Bloomberg Radio, nationwide on Sirius Exam
and around the world on Bloomberg dot Com and the
Bloomberg Business opp This is Bloomberg.
Speaker 14 (11:00):
Good Morning.
Speaker 3 (11:01):
I'm Nathan Hager. President Donald Trump is getting ready to
put his stamp on the Federal Reserve and the agency
that puts out the monthly jobs report. The President says
he's going to rename replacements for FED Governor Adriana Kugler
and his fired Bureau of Labor Statistics chief Erica mcintarfer.
Very soon.
Speaker 4 (11:18):
We'll be announcing a new statistician sometime over the next
three four days. We had no confidence. I mean, the
numbers were ridiculous what she announced.
Speaker 3 (11:28):
That was the President speaking to reporters on his way
back to Washington from Bedminster, New Jersey.
Speaker 12 (11:32):
This morning.
Speaker 3 (11:33):
We're joined by Bloomberg News Senior editor Bill Ferries. And
Bill after all the pressure that we have seen from
President Trump on the Federal Reserve, now with the firing
of the BLS chief, we go into a pretty unprecedented territory.
Speaker 12 (11:47):
Good morning, Yeah, good morning.
Speaker 13 (11:49):
Yeah, it's true. It's a highly unusual move to go
after the head of essentially the government's chief statistics bureau.
The BLS has long been considered the gold standard when
it comes to collecting this data, and there have been
challenges with getting enough responses to the data, and perhaps
that has explained some of the revisions that we've seen.
(12:12):
But revisions have been typical for decades. So it does
seem the President is reacting more. He's going after the
messenger here because of frustrations over the message. But as
you mentioned, there's also a heap of pressure on the
Federal Reserve and Trump getting a chance to shape it
a few months earlier than he probably expected.
Speaker 3 (12:34):
To, considering that Adrona. Kugler's term wasn't due to expire
until January. The President says he thinks that Kugler stepped
aside because she agrees with him on the need to
lower interest rates. Is that the sense that we have
that that's the reason why she's stepping aside.
Speaker 13 (12:52):
Yeah, there's no, there's really no evidence of that in
terms of her previous comments or her stance at the
these chief these key meetings that they have on rates.
I do think though it obviously gives the President a
chance to get someone in onto the FED who shares
his view, at least philosophically, that interest rates should be
(13:15):
coming down and coming down faster, and perhaps even basically
put in someone in the job who would be his
replacement for Jerome Powell when Palell's term expires in May.
Speaker 3 (13:25):
So could we get begetting to a situation where we
could see something like a shadow FED share once this
announcement is put in place here. I mean, I've got
to imagine there's going to be a lot of attention
on the Senate confirmation process for whoever replaces Governor Coogler.
Speaker 13 (13:43):
Yeah, certainly, and that process will take you know, will
take some time. So it's not going to be an
immediate thing, but there's going to be you know, as
soon as that name comes out, there's gonna be a
lot of scrutiny. There's going to be a lot of
look at any papers or public comments. I mean, we
may very well when you look at some of the
people who are likely on the short list we're talking about,
you know National Economic Council director Kevin Hassett, former FED
(14:07):
Governor Kevin Walsh, they would possibly be on that list.
There's always been speculation that Scott Besst, the Treasury Secretary,
could be on it. So you know these people, these
are people who have been very supportive of the President,
who have backed his idea that rate should come down.
Powell is still in that job until May. I mean
he's the one who will be making the arguments in
those policy committee meetings, but there will certainly be the
(14:31):
market will be pricing in changes that come after Powell leaves.
Speaker 3 (14:35):
On top of the pressure from the President, on the
FED and the BLS, Bill, Boeing is facing some rare
pressure from its defense factory workers this morning.
Speaker 13 (14:45):
That's right, we're seeing a real unusual strike by Boeing workers.
In this case, it's the first time in almost thirty
years workers at the Saint Louis factories striking after they
reach to the company's contract office offer. We're talking about
thirty two, one hundred machinists who walked off the job.
(15:08):
The union's last strike was about ninety nine days. I
mean Boweing listen. Bowing has had several very difficult years.
It's been caught up in the spat with China. They
weren't able to sell a lot of their planes to
China in that time. They had the crash of the
Max several years ago, so this kind of comes on
top of a lot of tumult at Boeing. So I
(15:28):
think they'll be looking to try to resolve this as
soon as possible and get back to work. But it is,
you know, it's been almost thirty years, so we're almost
in unprecedented territory.
Speaker 2 (15:40):
This is Bloomberg Daybreak, your morning podcast on the stories
making news from Wall Street to Washington and beyond.
Speaker 3 (15:47):
Look for us on your podcast feed by six am
Eastern each morning, on Apple, Spotify, or anywhere else you listen.
Speaker 2 (15:53):
You can also listen live each morning starting at five
am Wall Street Time on Bloomberg eleven three to zero
in New York, Bloomberg Are You ninety nine to one
in Washington, Bloomberg ninety two nine in Boston, and nationwide
on serious XM Channel one twenty one.
Speaker 3 (16:07):
Plus listen coast to coast on the Bloomberg Business app
Now with Apple CarPlay and Android Atto interfaces.
Speaker 2 (16:13):
And 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 on your favorite podcast
platform to stay informed all day long.
Speaker 3 (16:25):
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 Daybreak.
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, this could be a big week when it comes
to economic personnel. President Trump says he will announce a
new Federal Reserve governor and a new jobs data statistician
in the coming days. On Friday, one of the FED
seven governors, Adriana Kugler, said she intends to step down early.
On his way back to the White House for a
weekend in Bedminster, New Jersey, the President said he would
(00:36):
be filling Coogler's seat soon.
Speaker 4 (00:38):
No, I have a couple of people in mind. I'll
be announcing somebody for the filling of the person that left.
A woman left, as you know, who is a I
guess a Biden appointment, either Biden or Obama, but I
think a Biden appointment.
Speaker 1 (00:54):
And she left early.
Speaker 4 (00:54):
And I think she left because she agreed with me
on interest rates, and yet they were on the other
side of the ball, right. So I'll be announcing that
probably over the next couple of days.
Speaker 3 (01:05):
With FED Governor Adriana Kugler's departure, President Trump now has
the opportunity to appoint a governor who more closely aligns
with his preference for lower interest rates.
Speaker 5 (01:14):
Well Nathan.
Speaker 2 (01:15):
The changes on the Fed Board come as a major negative.
Revision to jobs data has upended views on the weakness
of the labor market. The revised figures make the past
three months the worst for job creation since the pandemic.
After the report, the White House fire the Bureau of
Labor Statistics boss Erica mcintarfer. Whitehouse National Economic Council Director
(01:35):
Kevin Hassett said the firing was because the revision was
poorly explained.
Speaker 6 (01:40):
The President wants his own people there so that when
we see the numbers, they're more transparent and more reliable.
And if there are big changes in big revisions, we
expect more big revisions for the job data in September,
for example. Then we want to know why. We want
people to explain it to us.
Speaker 2 (01:55):
Kevin Hasset made the comments on NBC's Meet the Press,
and you can catch the program every sun day right
here on Bloomberg Radio.
Speaker 3 (02:02):
This morning, Karen, workers at Boeing Saint Louis area defense
factories are on strike for the first time in almost
three decades. The walkout by almost thirty two hundred machinists
come after union members rejected Boeing's modified contract offer. Julie
Johnson covers the company for Bloomberg.
Speaker 7 (02:19):
Boeing Defense in Space has built fighter jets in Saint
Louis for a very long time. They also support some
of the commercial jet programs out of there, but it's
primarily military aircraft and munitions and missiles are also built there.
Speaker 3 (02:34):
Bloomberg's Julie Johnson says Boeing's offer would have raised wages
by twenty percent and boosted retirement contributions. The last time
the union went on strike was nineteen ninety six. That
stoppage lasted ninety nine days. This morning's shares of Boeing
are down a half percent, well Nathan.
Speaker 2 (02:49):
In Europe, UBS shares are down about seven tenths of
Upper sent the Swiss banking group a great to pay
three hundred million dollars to settle a mortgage related case
with a US Department of Justice London and get the
latest with Bloombery's Caroline Hegger.
Speaker 8 (03:03):
It's another item ticked off UBS's list of legal issues,
partly inherited from Credit Suez, the bank that it rescued
in twenty twenty three. In a statement, UBS says this
three hundred billion dollar payment will resolve all the outstanding
payments from a settlement that was reached in twenty seventeen
from residential mortgage backed securities dating back to two thousand
(03:25):
and six seven. EBS says that it expects this to
have a positive impact on its third quarter results, as
it will be able to release a contingency liability. The
agreement closes UBS's biggest US legal headache. In London, callin
hepgar Bloomberg Radio.
Speaker 3 (03:42):
Okay, Caroline, thank you. Let's get to the latest on trade.
The US and China have eight days until their tariff
truce expires. US Trade Representative Jamison Greer is sounding cautiously
optimistic after last week's talks in Stockholm. He says rare
earths were a key topic in the discussions for.
Speaker 9 (03:57):
The United States. We're focused on making sure that the
flow of magnets from China to the United States and
the adjacent supply chain can flow as freely as it
did before the control and I'd say we're about halfway there.
Speaker 3 (04:10):
US Trade Representative Jamison Griertel CBS has faced the Nation.
It will be up to President Trump whether to extend
the tariff truce with China beyond August twelfth. Face the
Nation can be heard every Sunday on Bloomberg Radio.
Speaker 2 (04:21):
Nathan now to a political issue in Texas that's caught
the nation's attention. Democratic lawmakers in the Lone Star state
have left the state to keep Republicans from redrawing their
congressional map. Last month, the Justice Department determined four of
Texas's House districts were racially jerrymandered. President Trump then called
and Republicans to redraw the map to add five GOP
(04:41):
seats ahead of next year's midterms. Democratic Illinois Governor JB.
Pritzker is blessing the Republicans.
Speaker 10 (04:48):
Trump came up with a new scheme rig the system
by ramming through a corrupt mid decade redistricting plan that
would steal five congressional seats, silencing millions of voices, especially.
Speaker 11 (05:01):
Black and Latino votes. Let's be clear, this is not
just rigging the system in Texas. It's about rigging the
system against the rights of all Americans.
Speaker 2 (05:11):
Illinois Governor JB. Pritzker spoke at a news conference alongside
many of the Texas Democrats saface fines of five hundred
dollars a day for leaving the state legislature short of
a quorum. Texas Governor Greg Abbott says a court could
decide whether the lawmakers have abandoned their office, allowing him
to swiftly replace them. State Attorney General Ken Paxton posted
on x that the lawmakers should be arrested and brought
(05:34):
back to the capital.
Speaker 3 (05:35):
Let's turn back to the markets now, Karen. Futures are
higher as we kick off the trading week. On Friday,
stocks sold off after the week jobs data. The S
and P five hundred fell one point six percent, while
the Nasdaq lost two and a quarter percent. Morgan Stanley
is recommending investors buy stocks on any pullbacks. In a note,
strategist Mike Wilson said, quote, We're buyers of pullbacks and
(05:56):
bullish the next twelve months end quote. He added that
he thinks the Fed will eventually transition to interest rate cuts.
Speaker 2 (06:03):
Well Nathan stocks in Switzerland and falling half a percent
on concerns President Trump's punitive thirty nine percent export tariff
on the country will denned corporate profits. The market was
closed Friday, for all holiday, so prices had not yet
reflected the tariffs or the President's push for drug makers
to lower prices.
Speaker 3 (06:21):
And Karen Oil is down more than one percent this morning.
OPEC Plus has closed a two year chapter in its
oil strategy, completing a series of oil production increases, but
delegates emphasized that the next move could be a cut
or a hike.
Speaker 2 (06:39):
Time now for 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 John Tucker. John, Good Morning,
Good morning.
Speaker 12 (06:46):
Karen. Blackstone reopening its New York headquarters this morning after
keeping the office shuttered the wake of that shooting spree
that killed four people, including one of its senior executives
last week. The world's biggest alternal advansset manager also gave
to have the option to work remotely for the entire week.
Official to say it was a miracle nobody was hurt.
A large concrete and steel awning collapsed onto the sidewalk
(07:08):
in Brooklyn Sunday. The yawning connected to the Hotel Saint George,
which opened more than one hundred years ago. A three
point zero magnitude earthquake shook out the area outside New
York City Saturday night, with the epicenter rooted in Hasburg Heights,
New Jersey. People across the tri state area reported feeling
tremor shortly after ten pm.
Speaker 13 (07:27):
We're we're seeing my living room in the whole house shoke.
Speaker 12 (07:31):
Nobody was hurt. Republican hopes of holding on to power
in the Senate after the twenty twenty six midterms are
receiving a boost from powerful, well funded super packs. That
story from Bloomberg's Amy Morris.
Speaker 5 (07:43):
New filings show large sums of cash flowing to aid
Republican candidates in states including South Carolina, Louisiana, Florida, Michigan,
and Maine. Superpacks may play a significant role in influencing
the outcome of the twenty twenty six primaries and general elections,
when control of the House and the Senate are up
for grabs. In other FEC filings, Elon Musk donated five
(08:06):
million dollars apiece to the Congressional Leadership Fund and Senate
Leadership Fund, which aid House and Senate Republicans respectively. In Washington,
Amy Morris, Bloomberg Radio.
Speaker 13 (08:18):
I'm a WKRP.
Speaker 12 (08:20):
And Simpson Lannie Anderson, best known for her role on
the radio station sitcom WKRP in Cincinnati, has died. She
was seventy nine. Her publicist said she died Sunday in
Los Angeles after in acute prolonged illness. Global News twenty
four hours Day and whenever you want it with Bloomberg
News Now, I'm John Tucker. Vic's Bloomberg Karen.
Speaker 2 (08:42):
All right, John Tucker, thank you time now for the
Bloomberg Spores update. Here's John stash Hour, John, good.
Speaker 14 (08:52):
Morning, you want to care?
Speaker 2 (08:53):
In?
Speaker 14 (08:53):
The Miami Marlins had previous series wins with the Yankees.
In fact, they once won a World Series from them,
but they had never swept. The Yanks had that wild
thirteen to twelve win Friday night, two nothing shut out Saturday,
and then they got to Luis Heel early on spoiling
Heels season debut. Later put the game away.
Speaker 15 (09:12):
That's a shot deep right field, quick back his belcher,
He looks up and it's gone. Kyle Stowers has done
it again, this time a three run shot off the left, six.
Speaker 14 (09:26):
One Miami on Marlins TV. Miami won seven to three.
To spite the difference in payroll, the Yankees is more
than double the sweep not all that surprising. Since June thirteenth,
the Marlins record is thirty and fourteen. The Yankees record
in that time is eighteen and twenty seven. Are now
in third place. Red Sox a weekend sweep at Fenway.
The West leading Astro Socks won six to one behind
(09:48):
Lucas Giolito gave up just three hits. He's now eight
and two at City Field and ex Red Sock dd
damage to the Mets.
Speaker 16 (09:54):
He swashes out on the right field. Oh my goodness,
headed for those second duck, a three run Classic Devers
home run, and it's four to one Giants and he
is floating around the bases. That's big boy, big boy
to end.
Speaker 2 (10:15):
Wow.
Speaker 14 (10:16):
Giants TV calling the Raffie Devers homer. Day after the
Mets won twelve to six. The Giants won twelve to four,
but Phillies topp Detroit two to nothing in the Phils
takeover first place. The first ever MLB game in Tennessee
and the first of a NASCAR track postponed from Saturday
due to ragin announced crown of ninety one thousand, so
the Braves beat the Red Spot to two. The Wyndham
(10:37):
golf in Greensboro, won by American Cam Young. He finished
twenty two under par, one by six shots at one point,
led by nine. It's his first PGA win. John Station
went Bloomberg Sports.
Speaker 1 (10:50):
Coast to coast on Bloomberg Radio, nationwide on Sirius Exam
and around the world on Bloomberg dot Com and the
Bloomberg Business opp This is Bloomberg.
Speaker 14 (11:00):
Good Morning.
Speaker 3 (11:01):
I'm Nathan Hager. President Donald Trump is getting ready to
put his stamp on the Federal Reserve and the agency
that puts out the monthly jobs report. The President says
he's going to rename replacements for FED Governor Adriana Kugler
and his fired Bureau of Labor Statistics chief Erica mcintarfer.
Very soon.
Speaker 4 (11:18):
We'll be announcing a new statistician sometime over the next
three four days. We had no confidence. I mean, the
numbers were ridiculous what she announced.
Speaker 3 (11:28):
That was the President speaking to reporters on his way
back to Washington from Bedminster, New Jersey.
Speaker 12 (11:32):
This morning.
Speaker 3 (11:33):
We're joined by Bloomberg News Senior editor Bill Ferries. And
Bill after all the pressure that we have seen from
President Trump on the Federal Reserve, now with the firing
of the BLS chief, we go into a pretty unprecedented territory.
Speaker 12 (11:47):
Good morning, Yeah, good morning.
Speaker 13 (11:49):
Yeah, it's true. It's a highly unusual move to go
after the head of essentially the government's chief statistics bureau.
The BLS has long been considered the gold standard when
it comes to collecting this data, and there have been
challenges with getting enough responses to the data, and perhaps
that has explained some of the revisions that we've seen.
(12:12):
But revisions have been typical for decades. So it does
seem the President is reacting more. He's going after the
messenger here because of frustrations over the message. But as
you mentioned, there's also a heap of pressure on the
Federal Reserve and Trump getting a chance to shape it
a few months earlier than he probably expected.
Speaker 3 (12:34):
To, considering that Adrona. Kugler's term wasn't due to expire
until January. The President says he thinks that Kugler stepped
aside because she agrees with him on the need to
lower interest rates. Is that the sense that we have
that that's the reason why she's stepping aside.
Speaker 13 (12:52):
Yeah, there's no, there's really no evidence of that in
terms of her previous comments or her stance at the
these chief these key meetings that they have on rates.
I do think though it obviously gives the President a
chance to get someone in onto the FED who shares
his view, at least philosophically, that interest rates should be
(13:15):
coming down and coming down faster, and perhaps even basically
put in someone in the job who would be his
replacement for Jerome Powell when Palell's term expires in May.
Speaker 3 (13:25):
So could we get begetting to a situation where we
could see something like a shadow FED share once this
announcement is put in place here. I mean, I've got
to imagine there's going to be a lot of attention
on the Senate confirmation process for whoever replaces Governor Coogler.
Speaker 13 (13:43):
Yeah, certainly, and that process will take you know, will
take some time. So it's not going to be an
immediate thing, but there's going to be you know, as
soon as that name comes out, there's gonna be a
lot of scrutiny. There's going to be a lot of
look at any papers or public comments. I mean, we
may very well when you look at some of the
people who are likely on the short list we're talking about,
you know National Economic Council director Kevin Hassett, former FED
(14:07):
Governor Kevin Walsh, they would possibly be on that list.
There's always been speculation that Scott Besst, the Treasury Secretary,
could be on it. So you know these people, these
are people who have been very supportive of the President,
who have backed his idea that rate should come down.
Powell is still in that job until May. I mean
he's the one who will be making the arguments in
those policy committee meetings, but there will certainly be the
(14:31):
market will be pricing in changes that come after Powell leaves.
Speaker 3 (14:35):
On top of the pressure from the President, on the
FED and the BLS, Bill, Boeing is facing some rare
pressure from its defense factory workers this morning.
Speaker 13 (14:45):
That's right, we're seeing a real unusual strike by Boeing workers.
In this case, it's the first time in almost thirty
years workers at the Saint Louis factories striking after they
reach to the company's contract office offer. We're talking about
thirty two, one hundred machinists who walked off the job.
(15:08):
The union's last strike was about ninety nine days. I
mean Boweing listen. Bowing has had several very difficult years.
It's been caught up in the spat with China. They
weren't able to sell a lot of their planes to
China in that time. They had the crash of the
Max several years ago, so this kind of comes on
top of a lot of tumult at Boeing. So I
(15:28):
think they'll be looking to try to resolve this as
soon as possible and get back to work. But it is,
you know, it's been almost thirty years, so we're almost
in unprecedented territory.
Speaker 2 (15:40):
This is Bloomberg Daybreak, your morning podcast on the stories
making news from Wall Street to Washington and beyond.
Speaker 3 (15:47):
Look for us on your podcast feed by six am
Eastern each morning, on Apple, Spotify, or anywhere else you listen.
Speaker 2 (15:53):
You can also listen live each morning starting at five
am Wall Street Time on Bloomberg eleven three to zero
in New York, Bloomberg Are You ninety nine to one
in Washington, Bloomberg ninety two nine in Boston, and nationwide
on serious XM Channel one twenty one.
Speaker 3 (16:07):
Plus listen coast to coast on the Bloomberg Business app
Now with Apple CarPlay and Android Atto interfaces.
Speaker 2 (16:13):
And 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 on your favorite podcast
platform to stay informed all day long.
Speaker 3 (16:25):
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 Daybreak.
Popular Podcasts
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Special Summer Offer: Exclusively on Apple Podcasts, try our Dateline Premium subscription completely free for one month! With Dateline Premium, you get every episode ad-free plus exclusive bonus content.
24/7 News: The Latest
The latest news in 4 minutes updated every hour, every day.