December 17, 2025: Trump Prime Time Address, Insists Economy is Strong, More

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Episode Transcript

Speaker 1 (00:01):
News when you wanted with Bloomberg News Now, I'm Doug Krisner.
We begin in Washington, where President Trump this evening addressed
the nation using his speech to detail the accomplishments he
has made during his first year in office.

Speaker 2 (00:14):
After eleven months, our border is secure, inflation has stopped,
wages are up, prices are down, our nation is strong,
America is respected, and our country is back stronger than
ever before.

Speaker 1 (00:29):
Trump also took the time to address plans for next year.

Speaker 2 (00:33):
Next year, you will also see the results of the
largest tax cuts in American history that were really accomplished
through our great, big, Beautiful Bill, perhaps the most sweeping
legislation ever passed in Congress. We wrapped twelve different bills
up into one beautiful bill.

Speaker 1 (00:52):
Public polling shows most US adults are frustrated with Trump's
handling of the economy, as inflation picked up following his
use of tariffs, and hiring began to slow. On Capitol Hill,
House Republicans have passed a partisan package of health care policies.
They are designed to provide a conservative alternative to extending
the subsidies under the Affordable Care Act set to expire

(01:15):
on December thirty first. House Speaker Mike Johnson, spoke to
reporters after the vote. I'm glad the Republicans stood together tonight.
Big night for us.

Speaker 3 (01:25):
We'll have another day on the legislative floor tomorrow and
then we will probably wind up the year.

Speaker 1 (01:30):
That is, House Speaker Mike Johnson. The GOP bill now
heads to the Senate after the bell. Micron Technology, the
largest US maker of computer memory chips, reported a blowout
quarter and offered even stronger guidance. We got reaction from
Jake Silverman, semiconductor analyst at Bloomberg Intelligence.

Speaker 3 (01:48):
If you look at the gross margin guidance as well,
which at midpoint was sixty eight percent, really just implies
such incredible pricing strength that they have right now, and
it really comes down to supply and demand. The most part,
there's just been a real supply limitation all of that
for the most part, driven well, for the most part,
driven by AI. Also there's been strong demand for PC's smartphones.

(02:11):
But the real story has been AI demand.

Speaker 1 (02:13):
That is, Jake Silverman's semiconductor analyst at Bloomberg Intelligence. Shares
and Micron were up six percent in late US trading.
Open AI has reportedly held preliminary discussions with some investors
about raising tens of billions of dollars, perhaps as much
as one hundred billion dollars. The Information reports the funding
could give open AI evaluation of around seven hundred and

(02:36):
fifty billion dollars. Shares in Medline searched forty two percent
in their trading debut. The medical supplier raised six and
a quarter billion dollars in the year's biggest initial public offering.
Bloomberg's Bailey Lipsholt says the success of this IPO says
a lot when the overall market had a down day.

Speaker 4 (02:55):
Also says a lot when you're an IPO that with
the green shoe being potentially exercise, you get close to
seven billion dollars, So the biggest USIPO since Rivian. I
would say, for all intents and purposes, this has been
a far better success in day one than I think
even the sponsors who backed this company would have expected.

Speaker 1 (03:12):
You can hear more from Bailey Lipschultz on the Bloomberg
Balance of Power podcast tomorrow before the opening bell. Will
get the report on consumer prices here as a preview
from Bloomberg's Michael McKee.

Speaker 5 (03:24):
The inflation report will encompass the past two months October
and November, so there won't be a month over month
change reported. We'll have only the annual rate. But that's
what largely matters to market considerations of what the Fed's
next move is. Is inflation rising, falling, or steady. Economists
say rising driven by Trump tariff taxes on goods, slowing

(03:45):
rents should hold down any acceleration in services. Any service
price jump would likely change the odds for FED easing ahead.
Michael McKee, Bloomberg Radio.

Speaker 1 (03:55):
FCC chairman Brenton carrs squared off with Senate lawmakers over
his criticism of mainstream news outlets. This was Carr's first
appearance since making remarks in September that led ABC to
briefly suspend Jimmy Kimmel over his comments after the death
of Charlie Kirk. Here is the exchange between Carr and

(04:15):
Minnesota Democratic Senator Amy Klobuchar.

Speaker 6 (04:18):
But after Jimmy Kimmel's monologue, you went on a podcast
and suggested that ABC should take Kimmel off the air,
saying we can.

Speaker 2 (04:26):
Do this the easy way or.

Speaker 6 (04:28):
The hard way. Those were your words. Do you think
it is appropriate to your position to threaten companies at
broadcast political satire.

Speaker 4 (04:38):
I think any licensee that operates on the public airwaves
has a responsibility to comply with the public interestandro and
that's been the case for decades.

Speaker 1 (04:46):
Carr also said he believed satire is protected speech under
the First Amendment, and that is news when you want
it with Bloomberg News. Now, I'm Doug prisoner and this
is Bloomberg.

Speaker 4 (05:00):
Yeah,