September 7, 2025: OPEC+ to Increase Production, Trump’s Finalists for Fed Chair, More

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Speaker 1 (00:00):
News when you want it with Bloomberg News Now, I'm
in Kulaki. Opek has agreed in principle to increase production
again next month, according to delegates, as the group doubles
down on its policy ship to pursue market share instead
of defending prices. Key Alliance members said they expect to
approve adding about one hundred and thirty seven thousand barrels
during a video call on Sunday, as the group, led

(00:23):
by Saudi Arabia and Russia, begins unwinding the next layer
of halted supplies, having just completed the surprised fast tracking
of a previous trunch. An October increase will start the
return of one point sixty six million barrels a day
of cuts that were scheduled to remain in place until
the end of twenty twenty six. President Trump says that
he sees White House Economic Advisor Kevin Hassett, Federal Reserve

(00:45):
Governor Christopher Waller, and former Fed Governor Kevin Walsh as
the finalists as he chooses a replacement for the Central
Bank's chair Jerome Powell. Earlier, Trump indicated that while he
had some idea of who he wanted to pick, for
the position. He was committed to an interview process. Treasury
Secretary Scott Bessen, who was thought to be a contender
for the job before removing himself from contention, is organizing

(01:07):
the search and reiterated Friday that he was not interested
in the position. The New York Times reports the Trump
administration has initiated an immigration and customs enforcement operation in Massachusetts,
including the Boston area. It's expected to last several weeks.
The initiative, which began late this week, is called Operation
Patriot two point zero. The operation came just days before

(01:28):
the Trump administration was expected to kick off an immigration
crackdown in Chicago, and as immigration arrests have ramped up
in Washington. South Korea's top diplomat said he'll travel to
Washington if needed over a US migrant rate at a
Hyundai manufacturing complex, confirming that more than three hundred among
four hundred seventy five people detained under the operation are

(01:50):
its citizens. Foreign Minister Choe Hung presided over an emergency
response meeting in Soul Saturday after US federal agians carried
out the sweep at a construction site or an electric
vehicle battery plant near Savannah Georgia.

Speaker 2 (02:03):
This week.

Speaker 1 (02:04):
South Korean First Vice Minister of Foreign Affairs Park Yun
Ju called the incident regrettable. During a Saturday phone call
with US Undersecretary of State four Political Affairs Alison Hooker.
Ken View shares plunged nine point four percent Frauday on
a report that Robert F. Kennedy Junior will link Tailan
Aal to autism. We get that story from Bloomberg's Charlie Pellett.

Speaker 2 (02:26):
The decline came after The Wall Street Journal reported that
the Health and Human Services Secretary is likely to link
the company's Tailanal painkiller to autism, though the agency says
the news report is quote speculation. The federal government is
expected to release its findings on autism this month. The journal,
citing sources, said the report is likely to say the

(02:48):
use of over the counter pain medication with sidaminefin, which
is the active ingredient in thailanol, may cause autism in
New York. Charlie Pellett Bloomberg Radio.

Speaker 1 (02:59):
The Trump administration is rewriting the rules on who gets
hired in the federal government. Bloomberg's Nathan Hager has the
details from Washington.

Speaker 3 (03:07):
The White House has published a new rule replacing what's
long been known as the rule of three that's required
civil service examiners to narrow a list of qualified candidates
for a government job to the top three scorers on
a competitive exam. The new rule lets hiring managers choose
from a wider field, while giving them more latitude to
winno people out if they've been passed over more than
three times for the same job. The new hiring rule

(03:29):
takes effect in November. In Washington, I'm Nathan Hager Bloomberg Radio.

Speaker 1 (03:34):
Postal traffic into the United States plunged by more than
eighty percent after the Trump administration ended a tiff exemption
for low cost imports. We get more from Bloomberg's Denise Pellegrini.

Speaker 4 (03:45):
That drop off comes as eighty eight postal operators tell
the UN's Postal Agency they have suspended Some are all
postal services to the US until they have a solution.
On most US bound parcels valued at eight hundred dollars
or less, which used to escape customs charges before President
Chump did away with the exemption last month. Most of
the purchases now require vetting and are subject to their

(04:05):
original country's applicable tariff rate from ten to fifty percent.
President Trump did even place a smaller exemption incoming gifts,
valued it up to one hundred dollars on. Up to
two hundred dollars worth of personal souvenirs from trips abroad
are still not being taxed. Denise Pellgreen Bloomberg Radio.

Speaker 1 (04:21):
One of the fastest growing groups of US consumers is
hitting the brakes. What started a few months ago with
makers of beer brands like Modello warning of a pullback
among Hispanic customers as anxiety about immigration raids and tariffs
set in, has now extended to other parts of the economy.
According to research firm Numerator, consumption by Hispanic families barely
rose in the year through June. Spending by white and

(04:42):
black households meanwhile continued to grow, albeit at a slower
pace than seen in twenty twenty four. And Davy Johnson,
an All Star second baseman who won the World Series
twice with the Baltimore Orioles as a player and managed
the New York Mets to the title when nineteen eighty six,
has died he was eighty two. Johnson also made the
final out in the nineteen sixty nine World Series when

(05:03):
the Orioles lost to the Mets. And at the US Open,
top seed Arena Sablenka wins the women's championship by defeating
Amanda Anisimova in straight set sixty three, seven to six.
President Trump plans to attend the men's final on Sunday.
That's news when you want it with Bloomberg News. Now,
I made Kleggi. This is Bloomberg