October 1, 2025 • 5 mins
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Speaker 1 (00:01):
News when you want it with Bloomberg News Now. I'm
Doug Prisner. It is the first day of the US
government shutdown. Earlier today, the Senate failed to pass a
bill to reopen, but Republicans and Democrats are still at
odds over funding for healthcare. Democrats want to negotiate on
extending Affordable Care Act subsidies and reversing cuts to Medicaid. However,
(00:22):
top Republicans say they will not negotiate until the government reopens.
Here is Senate Democratic Leader Chuck Schumer.
Speaker 2 (00:29):
When Democrats had the White House, the Senate and the House,
when Democrats had the majority in this chamber, when I
was majority leader, we never had one shutdown in four years,
not one. You know why because we worked with our
Republican colleagues to find a way to keep the government funded.
Speaker 1 (00:48):
At the same time, today we heard from Senate Majority
Leader John Thune. He said his party is ready to
reopen the government.
Speaker 3 (00:55):
This could have been avoided. It's totally unavoidable, and everybody's
now asking the question, how does this end.
Speaker 4 (01:02):
Well, it ends when the Senate.
Speaker 1 (01:03):
Democrats pick this bill up passed by the House of
Representatives and vote for it. Senate Majority leader John Thune. Meantime,
the White House is planning to swiftly dismiss federal workers.
We are told Budget Director Russell Vote talked to House
lawmakers today and said some federal agencies will move to
terminate workers within one to two days. We also heard
(01:27):
today from Vice President jd. Vance.
Speaker 5 (01:29):
Because we are in a government shutdown, we are going
to have to lay some people off if the shutdown continues.
We don't like that, we don't necessarily want to do it,
but we're going to do what we have to to
keep the American people's essential services continuing to run.
Speaker 1 (01:42):
That was Vice President jd. Vance. Now, high profile legal
fights challenging policies from the Trump administration are being paused
due to the government shutdown. Courts will remain open, although
the Justice Department will scale backwork on non urgent civil cases.
And as a result of the government shutdown, the agency
responsible for releasing economic data, the BLS, will be forced
(02:06):
to delay those reports. Today, the head of the Chicago Fed,
Austin Goulesby, said this will make it difficult for the
Fed to measure the economy. Here is Goolsby in a
radio interview on the public radio program Marketplace.
Speaker 4 (02:19):
The data dogs are howling because you know we're not
getting our usual supply of information. I will say I
consider the Bureau of Labor Statistics job data to be
the absolutely best data source on jobs and statistics in
the entire world. If we aren't going to have those,
(02:42):
it's problematic. That said, the Chicago Fed has come out
with some new job market indicators and we'll be releasing
them tomorrow.
Speaker 1 (02:53):
That is the head of the Chicago Fed, Austin Goulesby,
speaking to the public radio program Marketplace. The Supreme Court
will not allow President Trump to immediately oust FED Governor
Lisa Cook while she sues to keep her job. It
means Cook can remain in her position while the Department
of Justice appeals a lower court ruling that found Cook
was likely to win her lawsuit over this firing. In
(03:16):
late August, President Trump said he would remove Cook over
allegations of mortgage fraud, which she has denied. Here is
White House Press Secretary Caroline Levitt.
Speaker 3 (03:26):
Look, we have respect for the Supreme Court, but they're
going to hear the actual case and make a determination
on the legal argument in January, and we look forward
to that because we maintain that she was fired well
within the president's legal authority to do so. She was
removed from the board, and we look forward to that
case being fully played out at the Supreme Court.
Speaker 1 (03:45):
White House Press Secretary Caroline Levitt. In South Korea, memory
chip maker Samsung and sk Heinez are rallying on news
the companies will supply chips to open AI's Stargate project.
The aim here is to create a longer term partnership
between America's most valuable AI startup and Asia's dominant players
(04:05):
in memory chips. Here is Masha Hero Wakasugi of Bloomberg Intelligence.
Speaker 6 (04:10):
I think that both Samson and also s K highness
could be benefiting from this AI shift. And maybe this
story is only talking about maybe you know, HBM or
probably AI related the dram, but also we think that
probably maybe you know, non fresh memory could be the
(04:31):
benefiting from the overall data expansion story. So I think
that maybe going forward the competition could be you know,
a bit in getting tough on tough up.
Speaker 1 (04:42):
It is Masha Hero Wakasugi of Bloomberg Intelligence. President Trump
is intending to confront Chinese President Chi Jinping over Beijing's
refusal to purchase American soybeans. Trump is facing pressure from
Republican lawmakers from agricultural states to break the impact with
China over soil being purchases. Here is Bloomberg's Stephen Engel.
Speaker 7 (05:02):
Well, we do know that Donald Trump is becoming increasingly
concerned by the unrest, if you will, by US farmers,
because keep in mind, you know, traditionally in the past
decade or so, anywhere between twenty eight to upwards of
sixty percent of US soybean crops, which is underway, by
the way, the harvest is underway right now, go to China.
Speaker 1 (05:25):
That was Bloomberg, Steven Engel. In sports, the MLB Wildcard
is underway, and in the American League, the Cleveland Guardians
defeated the Detroit Tiger six to one. At the same time,
the New York Yankees defeated the Boston Red Sox four
to three. Then in the National League, the San Diego
Padres defeated the Chicago Cubs three to nothing. All series
now tied at one game apiece. And that is news
(05:48):
when you want it with Bloomberg News. Now, I'm Doug Prisoner,
and this is Bloomberg
News when you want it with Bloomberg News Now. I'm
Doug Prisner. It is the first day of the US
government shutdown. Earlier today, the Senate failed to pass a
bill to reopen, but Republicans and Democrats are still at
odds over funding for healthcare. Democrats want to negotiate on
extending Affordable Care Act subsidies and reversing cuts to Medicaid. However,
(00:22):
top Republicans say they will not negotiate until the government reopens.
Here is Senate Democratic Leader Chuck Schumer.
Speaker 2 (00:29):
When Democrats had the White House, the Senate and the House,
when Democrats had the majority in this chamber, when I
was majority leader, we never had one shutdown in four years,
not one. You know why because we worked with our
Republican colleagues to find a way to keep the government funded.
Speaker 1 (00:48):
At the same time, today we heard from Senate Majority
Leader John Thune. He said his party is ready to
reopen the government.
Speaker 3 (00:55):
This could have been avoided. It's totally unavoidable, and everybody's
now asking the question, how does this end.
Speaker 4 (01:02):
Well, it ends when the Senate.
Speaker 1 (01:03):
Democrats pick this bill up passed by the House of
Representatives and vote for it. Senate Majority leader John Thune. Meantime,
the White House is planning to swiftly dismiss federal workers.
We are told Budget Director Russell Vote talked to House
lawmakers today and said some federal agencies will move to
terminate workers within one to two days. We also heard
(01:27):
today from Vice President jd. Vance.
Speaker 5 (01:29):
Because we are in a government shutdown, we are going
to have to lay some people off if the shutdown continues.
We don't like that, we don't necessarily want to do it,
but we're going to do what we have to to
keep the American people's essential services continuing to run.
Speaker 1 (01:42):
That was Vice President jd. Vance. Now, high profile legal
fights challenging policies from the Trump administration are being paused
due to the government shutdown. Courts will remain open, although
the Justice Department will scale backwork on non urgent civil cases.
And as a result of the government shutdown, the agency
responsible for releasing economic data, the BLS, will be forced
(02:06):
to delay those reports. Today, the head of the Chicago Fed,
Austin Goulesby, said this will make it difficult for the
Fed to measure the economy. Here is Goolsby in a
radio interview on the public radio program Marketplace.
Speaker 4 (02:19):
The data dogs are howling because you know we're not
getting our usual supply of information. I will say I
consider the Bureau of Labor Statistics job data to be
the absolutely best data source on jobs and statistics in
the entire world. If we aren't going to have those,
(02:42):
it's problematic. That said, the Chicago Fed has come out
with some new job market indicators and we'll be releasing
them tomorrow.
Speaker 1 (02:53):
That is the head of the Chicago Fed, Austin Goulesby,
speaking to the public radio program Marketplace. The Supreme Court
will not allow President Trump to immediately oust FED Governor
Lisa Cook while she sues to keep her job. It
means Cook can remain in her position while the Department
of Justice appeals a lower court ruling that found Cook
was likely to win her lawsuit over this firing. In
(03:16):
late August, President Trump said he would remove Cook over
allegations of mortgage fraud, which she has denied. Here is
White House Press Secretary Caroline Levitt.
Speaker 3 (03:26):
Look, we have respect for the Supreme Court, but they're
going to hear the actual case and make a determination
on the legal argument in January, and we look forward
to that because we maintain that she was fired well
within the president's legal authority to do so. She was
removed from the board, and we look forward to that
case being fully played out at the Supreme Court.
Speaker 1 (03:45):
White House Press Secretary Caroline Levitt. In South Korea, memory
chip maker Samsung and sk Heinez are rallying on news
the companies will supply chips to open AI's Stargate project.
The aim here is to create a longer term partnership
between America's most valuable AI startup and Asia's dominant players
(04:05):
in memory chips. Here is Masha Hero Wakasugi of Bloomberg Intelligence.
Speaker 6 (04:10):
I think that both Samson and also s K highness
could be benefiting from this AI shift. And maybe this
story is only talking about maybe you know, HBM or
probably AI related the dram, but also we think that
probably maybe you know, non fresh memory could be the
(04:31):
benefiting from the overall data expansion story. So I think
that maybe going forward the competition could be you know,
a bit in getting tough on tough up.
Speaker 1 (04:42):
It is Masha Hero Wakasugi of Bloomberg Intelligence. President Trump
is intending to confront Chinese President Chi Jinping over Beijing's
refusal to purchase American soybeans. Trump is facing pressure from
Republican lawmakers from agricultural states to break the impact with
China over soil being purchases. Here is Bloomberg's Stephen Engel.
Speaker 7 (05:02):
Well, we do know that Donald Trump is becoming increasingly
concerned by the unrest, if you will, by US farmers,
because keep in mind, you know, traditionally in the past
decade or so, anywhere between twenty eight to upwards of
sixty percent of US soybean crops, which is underway, by
the way, the harvest is underway right now, go to China.
Speaker 1 (05:25):
That was Bloomberg, Steven Engel. In sports, the MLB Wildcard
is underway, and in the American League, the Cleveland Guardians
defeated the Detroit Tiger six to one. At the same time,
the New York Yankees defeated the Boston Red Sox four
to three. Then in the National League, the San Diego
Padres defeated the Chicago Cubs three to nothing. All series
now tied at one game apiece. And that is news
(05:48):
when you want it with Bloomberg News. Now, I'm Doug Prisoner,
and this is Bloomberg
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