July 18, 2025: DOJ Asks to Unseal Epstein Grand Jury Transcripts, Trump Sues, More

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Episode Transcript

Speaker 1 (00:01):
News when you want it with Bloomberg News Now, I
met Kleggy. The Trump administration asked a federal court to
unseal grand jury transcripts related to the case of late
discreased financier Jeffrey Epstein, following claims that government officials were
hiding documents and information related to his sex trafficking case.
Justice Department lawyers made the requests Friday to two judges

(00:23):
in Manhattan, where prosecutors hailed separate criminal cases against Epstein
and his former associate, Gislaine Maxwell. It's unclear of courts
would grant the administration's request, or whether the request will
satisfy critics, including some of President Trump's own allies, who
have demanded more information on the case. Grand Jury deliberations

(00:44):
are typically kept secret. The judges could also take time
to make a decision, according to court records. President Trump
has sued Dow Jones in Company News Corp end Rupert
Murdoch for libel. Trump's move came after The Wall Street
Journal published a story alleging that he once sent a
suggestive birthday letter to Jeffrey Ebstein. The president said the
letter was fake. In a social media post, he threatened

(01:06):
to sue the paper, its parent company, News Corp. And
owner Rupert Murdoch, calling the story false, malicious, and defamatory.
President Trump Friday afternoon signed the first federal bill to
regulate stable coins, calling it a big step.

Speaker 2 (01:19):
We take a giant step to cement the American dominance
of global finance and crypto technology as we signed the
landmark Genius Act into law.

Speaker 1 (01:32):
The measure sets regulatory rules for US dollar backed stable coins,
including a requirement for firms to hold dollar for dollar
reserves in short term government debt or similar products overseen
by stater Federal regulators advocate see it as allowing for
the broader adoption of digital assets in finance. President Trump
is once again pressuring FED Chair J Powell on interest rates,

(01:53):
calling the chairman a numbskull la on truth social and
saying that high rates are choking the housing market. FED
Governor Christopher Waller has been mentioned as a possible successor
to Powell. We asked Waller if he feels that pressure
in the committee.

Speaker 3 (02:07):
Room to be absolutely honest, we just do our job
every day I go in, I just focus on my
work on monetary policy, payments and oversight of the reserve banks.
That's what I do. I let this stuff go and
then just try to focus on my job, and I
think that's how all of us are proceeding with this.

Speaker 1 (02:26):
Waller tells Bloomberg Surveillance the President has not contacted him
about the chairmanship, but he would serve if asked. Waler
usso restated the case he first revealed in a Thursday
speech that the FED should cut when policymakers gather later
this month, given data suggesting the US labor market is
on the edge.

Speaker 3 (02:44):
Half of the employment growth we saw last month was
in the public sector, and that means the private sector
is not doing particularly well.

Speaker 1 (02:51):
Catch the full conversation on the Surveillance podcast. Treasure resented
Friday higher following dubvish comments by FED Governor Waller and
lower than anticipated consumer inflation expectations. In the University of
Michigan sentiment survey, the s and P five hundred index
did score a winning week. We get more on this
from Bloomberg's Charlie Pellett.

Speaker 4 (03:10):
The SMP five hundred index had its third winning weekend
the last four after consumer sentiment rose to a five
month high during Friday's trading declines in technology and energy
shares offset gains elsewhere. The S and P five hundred
index was down one tenth of one percent after notching
a fresh record a day earlier. NASDAK end of the

(03:32):
week at a record for the week, the SMP five
hundred index was up six tenths of one percent. NASTAK
up one and a half percent. The Dow this week
down for a second week, falling one tenth of one
percent in New York. Charlie Pelle at Bloomberg Radio, The.

Speaker 1 (03:47):
EPA on Friday said it's eliminating its research and development
arm and will be sending reduction in force notices to
individual employees. The EPA says the changes will deliver seven
hundred and forty eight million dollars in savings. At the
same time, the EPA announced its creating a new Office
of Applied Science and Environmental Solutions, which it said will

(04:08):
allow it to prioritize research and science more than ever
before and put it at the forefront of rule makings
and technical assistance to states. After two rounds of the
Open Championship, Scottie Scheffler seven under on Friday, ten under
four the tournament. He will enter Saturday's third round with
a one shot lead. The Friday numbers on Wall Street,

(04:28):
the Dow lost one forty two, NASDAK gained ten, the
SMP just a tad lower. The ten year treasury yields
at four point four two percent, the two year at
three point eight seven percent. That's news when you want
it with Bloomberg News. Now, I'm in Kalggi. This is
Bloomberg