May 22, 2025: Supreme Court Agency Ruling, Harvard Foreign Student Ban, More

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Episode Transcript

Speaker 1 (00:01):
News when you want it. With Bloomberg News Now, I'm
Doug Chrisner, and we begin in Washington, where the Supreme
Court has sided with President Trump, allowing him to remove
officials from two independent federal agencies. However, this ruling shields
the Federal Reserve. The court said the FED is a
uniquely structured quasi private entity. Here is Bloomberg's Kate Davidson.

Speaker 2 (00:23):
I'm sure that it's a sigh of relief for the FED.
Although if we heard, if you're listening to j Powell
last month, he was speaking in Chicago, and he actually
said he sort of predicted this and said that he
was confident or had a feeling that the Supreme Court
would kind of create some sort of exemption or at
least make clear rather that the law the FED differently,

(00:43):
and that's exactly what they did today.

Speaker 1 (00:44):
That is Bloomberg's Kate Davidson. The Trump administration has barred
Harvard University from enrolling new international students, citing national security
and campus safety concerns. Now, the Department of Homeland Security
revoked Harvard's federal student visa certification and accuse the university
of fostering anti Semitism and foreign influence. Here is DHS

(01:07):
Secretary Christi Nomes speaking on Fox News.

Speaker 3 (01:11):
Any foreign student that wishes to get an education in
this country that is attending Harvard and not participating in
this criminal activity, they will have to find another university
to go to because Harvard has chosen instead to not
protect their students and to allow this kind of violent
and discriminatory action continue.

Speaker 1 (01:28):
That was DHS Secretary Christi Nomes speaking on Fox News. Now,
the government's move will affect nearly seven thousand foreign students
and it will cut off a key funding pipeline for Harvard.
The university is preparing legal action, with thousands of current
foreign students now facing possible deportation. The suspect accused of

(01:48):
gunning down too Israeli embassy staffers outside a Jewish museum
in Washington has been charged with murder. Officials are calling
it an anti Semitic hate crime. Here is in i'
from US Attorney for DC, jeaneene Piro.

Speaker 4 (02:02):
Violence against anyone based on their religion is an act
of cowardice. It is not an act of a hero.
It is the kind of case that we will vigorously pursue.
Anti Semitism will not be tolerated, especially in the nation's capital.

Speaker 1 (02:21):
That is intram us Attorney for DC, jeaneene Piro. Now
the suspect is identified as thirty year old Elias Rodriguez
of Chicago. Meantime, Israel said it's boosting security around its
embassies and diplomatic staff. Those locations had already been on
high alert given international outcry at the nineteen month old
war in Gaza. President Trump's Big Beautiful Bill narrowly passed

(02:45):
the House early Thursday by a vote of two fifteen
to two fourteen, with one abstention. The bill includes a
four trillion dollar increase in the US debt ceiling, and
it will extend President Trump's first term tax cuts. We
got reaction from Chuck Edwards, the Republican congressman from North Carolina.
He was speaking on Bloomberg's Balance of Power podcast.

Speaker 5 (03:07):
I believe that we're at a point right now where
Americans are demanding more fiscal responsibility, and I think we're
going to see that out of the Senate's product. I
know that Americans are desperate to not see taxes go up.
I think we're going to see that come out of
the Senate product. I know that Americans are demanding stricter

(03:30):
border control. We're going to see that come out of
the Senate product.

Speaker 1 (03:33):
Chuck Edwards, their Republican congressman from North Carolina. This bill
does raise the limit on the deduction for state and
local taxes to forty thousand dollars. It also temporarily exempts
tips and overtime pay from taxas. This bill goes next
to the Senate, where it will have to survive the
Chamber's complex reconciliation rules. The Trump Administrations Make America Healthy

(03:55):
Again Commission revealed its report today. It blames the rise
in diseases in the US on unhealthy food ingredients, chemicals,
and an over reliance on medication. Here is Health and
Human Services Secretary Robert F. Kennedy Jr.

Speaker 6 (04:11):
At its core. This report is a call to action
for common sense. We've relied too much on conflicted research,
ignored common sense, or what would some would call mother's intuition.

Speaker 1 (04:23):
HHS Secretary of Robert F. Kennedy Junior, speaking there. This
report also accuses corporations of spending money to influence scientific literature,
legislative actions, and regulatory agencies. And that is news when
you wanted to with Bloomberg News. Now I'm Doug prisoner,
and this is Bloomberg