August 7, 2025: Israel Poised to Seize Gaza City, Miran Named Fed Gov, More

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Episode Transcript

Speaker 1 (00:00):
News when you wanted with Bloomberg News Now, I'm Charlie Pellett.
Israel's Security Cabinet has approved a plan to take over
Gaza City. That word coming from Prime Minister Benjamin Netanyahu's office.
The decision, taken early Friday, marks another escalation of Israel's
twenty two month offensive, launched in response to Ramas's October

(00:21):
seventh attack. Out of a Security Cabinet meeting which began
Thursday and ran through the night, Netnyaho said Israel plan
to retake control of the entire territory and eventually handed
off to friendly Arab forces opposed to Ramas. President Trump
is nominating Council of Economic Advisors chairman Stephen Myron to

(00:41):
serve as a Federal Reserve governor. Bloomberg's Amy Morris reports
from Washington.

Speaker 2 (00:47):
President Trump says Myron, who will need to be confirmed
by the Senate, would only serve the remaining term of
FED Governor Adriana Coogler, which expires in January. Myron has
been critical of the Fed's track record and says tariffs
are not likely to cause inflation pressure.

Speaker 3 (01:02):
We've now got several months of data and again there's
just zero macroeconomically significant evidence of price pressures from tariffs.

Speaker 2 (01:09):
Stephen Myron, in a conversation just hours before the President's
announcement on Thursday with Balance of Power host Joe Matthew
that view puts him somewhat at odds with Powell. The
FED chair has said that while the base case is
that tariff's effects on inflation could be short lived, Fed
policymakers must guard against the alternative. In Washington, Amy Morris
Bloomberg Radio.

Speaker 1 (01:30):
Sources tell Bloomberg Federal Reserve Governor Christopher Waller is emerging
as a top candidate to serve as a central Bank's
chair among President Trump's advisors, and with more on that
story Bloomberg's Denise Pellegrini.

Speaker 4 (01:42):
They're searching for a replacement for j Powell, and one
of the sources says Trump advisors are impressed with Waller's
willingness to move on policy based on forecasting rather than
current data, and on his deep knowledge of the FED
system as a whole. They say Waller has met with
the president's team about the role, but has yet to
meet with President Trump himself. The sources also say Kevin Wirsh,

(02:04):
a former FED official and Kevin has It. Currently. Trump's
National Economic Council Director also remain in contention for the
job in New York, Denise Pelagreney Bloomberg Radio.

Speaker 1 (02:13):
As for the outlook for the Federal Reserve and potential
rate cuts, Seema Shaw is Chief Global Strategistic Principal Global Investors.

Speaker 3 (02:21):
From a political side, I think it's been very, very
difficult for the FED to avoid cutting rates. We've, of course,
we've seen so many FED speakers in the last few
days falling onto that side with Wallace. So we are
expecting a cut and rate in September now. But I
have to say, I don't think there's going to be
much need for really aggressive rate cuts because we still
have a constructive view of the economy. We still actually

(02:43):
have some concerns about inflation.

Speaker 1 (02:44):
Seema Shaw of Principal Global Investors. President Trump is calling
on Intel CEO Lip Bhutan to resign due to what
he called conflicts of interest. Writing on Truth Social the
President gave no evidence or additional detail on the potential
conflicts of interest. The post came after Republican Senator Tom

(03:04):
Cotton asked the chairman of Intel's board this week to
answer questions about Tan's ties to China, including investments in
the country's semiconductor companies. Ian King covers the semiconductor industry
for Bloomberg News, and he says it adds to the
challenges for a company that is supposed to anchor restoration
of the US semiconductor industry.

Speaker 5 (03:25):
Intel recently during innings cast doubts on whether it'll build
the plants in Ohio that everybody's looking at as a
cornerstone of chip manufacturing in the US, that it'll be
very measured in its introduction of new new chip technology
that has obviously created an undermining of this story of
bringing back chip manufacturing to the US and sort of

(03:47):
making the US great again in that particular area. So
clearly that has caught the attention of politicians, and clearly
they're not happy with the direction that that's going.

Speaker 1 (03:57):
In Bloomberg's Ian King reporting an Intel was down three
point one percent. It was the first day of trading
for Firefly Aerospace shares. They gained thirty four percent with
more here's Bloomberg's Dan Schwartzmann.

Speaker 2 (04:11):
It marks the next evolution for a company that survived
bankruptcy and turmoil to develop its own fleet of rockets
and successfully land a private spacecraft on the Moon.

Speaker 1 (04:19):
The Cedar Park, Texas based space firm becomes the most
recent test case of whether a launch company can maintain
a sustainable business where other space companies have failed.

Speaker 2 (04:28):
In March, the company made history by successfully landing a
robotic spacecraft called Blue Ghost on the surface of the
Moon in partnership in NASA.

Speaker 1 (04:36):
In New York, Dan Schwartzman Bloomberg Radio a mixed day
for the US stock market, with the S and P
five hundred index little change down five points, down under
one tenth of one percent. The Dow was down two
hundred and twenty four, down five tenths, but the Nestak
composite indecks closed at a record up seventy three, up
by three tenths of one percent. And that's news when

(04:58):
he wanted with Bloomberg News. Now, I'm Charlie pellattand this
is Bloomberg