August 9, 2025: Zelenskiy Rejects Ceding Land, Bowman Favors 3 Cuts in 2025, More

Listen for the latest from Bloomberg News

See omnystudio.com/listener for privacy information.

Episode Transcript

Speaker 1 (00:00):
News when you want it with Bloomberg News Now, I'm
mid Kalki. Ukrainian President Vladimir Zelenski says Kief won't seed
territory to bring an end to war. As European and
American security advisors met in the UK in advance of
a key US Russia summit, President Trump announced Friday that
he'll meet Russian President Vladimir Putin in Alaska Friday, August fifteenth,

(00:23):
with the apparent exclusion of Zelenski from talks aimed at
ending Russia's invasion of its neighbor. Now halfway through a
fourth year, Federal Reserve Governor Michelle Bowman delivered two key
pieces of news on Saturday, announcing she will host an
October ninth Community Bank Conference and favors three interest rate
cuts this year. Bowman, the Fed's top bank cop, said

(00:44):
the Community Bank conference will look at potential reforms to
the capital framework for those lenders. She has previously expressed
concerns about the competitive landscape for community banks, which have
long been losing market share to bigger lenders. President Trump
says he will hold a press for It's Monday at
the White House to address violent crime in Washington. DC
and Bloomberg's Hadriana loewen Kron says, one important thing to

(01:08):
note is.

Speaker 2 (01:09):
The seeing that violent crime. This was data that came
out early in January, so looking at twenty twenty four
is at a thirty year low, but it does come after,
you know, there have been kind of a handful of
incidents that the president has really used to, you know,
make this claim that the nation's capital is you know,

(01:30):
written with crime.

Speaker 1 (01:32):
And loewen Kron says those recent incidents include one where
a prominent former member of the president's doge team was attacked.

Speaker 3 (01:45):
Copies flushed down.

Speaker 1 (01:46):
An international crew of four astronauts is back home on
Earth Saturday after nearly five months aboard the International Space Station,
returning safely in a space X capsule. The spacecraft, carrying
US astronauts and McLean and Nicole A, Japan's taikuya Onishi
and Russian cosmonaut Kiri le Peskov, splashed down off California's

(02:06):
coast at eight forty four local time Saturday morning. Their
return marks the end of the tenth crew rotation mission
to the space station under NASA's Commercial Crew program, which
was created to succeed the Space shuttle error by partnering
with private industry. Bo Hines, the head of the White
House Presidential Council of Advisors for Digital Assets, says he's
stepping down and returning to the private sector. Heinz called

(02:29):
his role the honor of a lifetime in a post
on X and added, I love this community and all
we've built together. Heines, an ex college football player who
twice ran unsuccessfully for Congress from North Carolina, echoed President
Trump's false claims that he won the twenty twenty election,
which earned him attention from the President. VINAI. Prossad is

(02:50):
returning to his role at the US Food and Drug Administration.
Bloomberg's Denise Peligrini reports. The Department of Health and Human
Services says Prossad will resume leadership of the Center for
Biologic Evaluation and Research.

Speaker 3 (03:04):
Prasad departed really suddenly last month after backlash from Trump
Allied Laura Lumer and others over his handling of safety
issues on syrepti therapeutics gene therapy, and the FDA Commissioner
had been trying to get them to come back. Prasad
was also Chief Science Officer and Chief Medical Officer, but
it's not clear at this point if he'll be getting
those other roles back.

Speaker 1 (03:22):
Bloomberg's Denise Pellegrini reporting a major battle could be growing
between crypto firms and traditional banks now the new legislation
for stable coins is in effect. Bloomberg's Nathan Hager is
following this well.

Speaker 4 (03:34):
The Genius Act requires stable coin issuers to register, and
it's set off a rule writing process to decide how
far these companies can go in acting like traditional banks.
Firms like Circle and Ripple Labs have already applied for
National Trust Bank charters. Trade groups say the Treasury Department
shouldn't have let them without public comment first.

Speaker 1 (03:53):
As for the crypto firms, the charters would give them
more legitimacy and keep them from having to apply for
licenses state by state. The Washington Post reports the IRS
clashed with the White House over using tax data to
help locate suspected undocumented immigrants hours before Trump administration officials
forced IRS Commissioner Billy Long from his post on Friday.

(04:14):
The Department of Homeland Security sent the IRS a list
Thursday of forty thousand names of people DHS officials thought
were in the country illegally. And asked the IRS to
use confidential taxpayer data to verify their addresses. By using
tariffs as a foreign policy tool, the US president is
legitimizing China's own acts of economic coercion. Trump's bullying of

(04:37):
India is straight from She's playbook. You can read all
about it in Bloomberg's weekend edition, exploring the places where finance,
life and culture meet. Find it now on Bloomberg dot
Com and the Bloomberg Business app. That's news when you
want it with Bloomberg News Now. I'm in Kalengi. This
is Bloomberg