July 1, 2025 • 4 mins
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Speaker 1 (00:01):
News when you wanted with Bloomberg News. Now I'm Doug Prisoner.
We begin with news on the situation in Gaza. A
short while ago, on truth Social President Trump posted this,
Israel has agreed to the necessary conditions to finalize the
sixty day cease fire, during which time we will work
with all parties to end the war. The President also
(00:22):
warned Hamas to accept the terms before conditions worsen. We'll
have more on this story as it develops. The Senate
narrowly passed President Trump's tax and spending bill. The vote
was fifty one p fifty, with Vice President jd Vance
breaking a tie. This bill has four and a half
trillion dollars in tax cuts and one point two trillion
(00:42):
dollars in spending cuts. Senate Minority Leader Chuck Schumer says
the American people will feel the impact of this bill.
Speaker 2 (00:49):
We're going to be fighting in July and August and
throughout the year reminding Americans when their hospitals close, when
their healthssurance is cut off, when they lose their friends,
lose their jobs because clean energy has been so decimated,
They'll remember. They'll remember. We will make sure of that.
Speaker 1 (01:10):
Senate Minority Leader Chuck Schumer.
Speaker 2 (01:12):
There.
Speaker 1 (01:12):
We also heard from Maya McGuinness. She is the president
of the Committee for a Responsible Federal Budget and she
says the increase to the national debt could top four
trillion dollars.
Speaker 3 (01:23):
I think it will probably pass, but I do think
there's a big question about whether the House is going
to say, no, we're not going with the Senate version,
and we're going to need to go back to our
version and work out those differences.
Speaker 1 (01:33):
She is Maya mcguinnis the president of the Committee for
a Responsible Federal Budget. Earlier today, President Trump toured the
migrant facility in the Florida Everglades known as Alligator Alcatraz.
Here is Trump speaking alongside Homeland Security Secretary Christy Nome.
Speaker 3 (01:50):
If they self deport and go home, they can come
back legally, we will let them come back.
Speaker 1 (01:54):
Then there is a lot of self importation.
Speaker 2 (01:57):
But if you wait and we bank you to this facility,
you don't ever get to come back to America.
Speaker 1 (02:03):
That is President Trump speaking alongside Homeland Security Secretary Christy Nome. Now,
this facility is part of Trump's efforts to ramp up
deportations by expanding detention capacity. The outlook for those FED
rate cuts seemed to dim a bit on signs of
a still healthy labor market, job openings in the US
hitting the highest level since November, and at the same
(02:26):
time layoffs declined. And today FED share J. Powell reiterated
his weight in sea stance on interest rates given the
inflationary implications of those higher tariffs. Even so, when asked
if July were too soon for a rate cut, Powell
didn't rule out the possibility. Also today President Trump doubled
(02:47):
down on his criticism of the FED share.
Speaker 2 (02:51):
And so we took it one hundred and twenty nine
million a tariffs already. We haven't even started no inflation.
Our country is strong. Our interest rate three points lower.
If our interest rate was three points lower, that's almost
a threeion dollars in costs.
Speaker 1 (03:06):
Kind of sto just by the signing of a pend.
Speaker 2 (03:07):
But we have a moron at the head of the FED.
Speaker 1 (03:10):
He's a moron, President Trump, speaking there of FED shar J. Powell.
We go to New York next, where the jury in
the sex trafficking trial of music mogul Sean Diddy Combs
says it's reached a verdict on four of five counts. However,
jurors have been unable to reach a decision on count one,
racketeering conspiracy. Here is Bloomberg Legal analyst June Grosso.
Speaker 3 (03:33):
This happens sometimes where they can't reach a thing, and
the judge says, go back and deliberate some more, and
then if they come out again and say we still
can't reach a verdict, then he'll give them what's called
an Allen charge or a dynamite charge, where he tells
them to go back and listen to the opinions of
your fellow jurors and try to reach a decision. If
they can't after that, then he might declare a mistrial.
Speaker 1 (03:55):
That is Bloomberg's June Grosso. Now, the count one charge
falls under the Racketeer Influenced and Corrupt Organizations Act or RICO.
It's best known for being used in organized crime and
drug cartel cases. And that is news when you want
it with Bloomberg News. Now, I'm Doug Chrisner, and this
is Bloomberg
News when you wanted with Bloomberg News. Now I'm Doug Prisoner.
We begin with news on the situation in Gaza. A
short while ago, on truth Social President Trump posted this,
Israel has agreed to the necessary conditions to finalize the
sixty day cease fire, during which time we will work
with all parties to end the war. The President also
(00:22):
warned Hamas to accept the terms before conditions worsen. We'll
have more on this story as it develops. The Senate
narrowly passed President Trump's tax and spending bill. The vote
was fifty one p fifty, with Vice President jd Vance
breaking a tie. This bill has four and a half
trillion dollars in tax cuts and one point two trillion
(00:42):
dollars in spending cuts. Senate Minority Leader Chuck Schumer says
the American people will feel the impact of this bill.
Speaker 2 (00:49):
We're going to be fighting in July and August and
throughout the year reminding Americans when their hospitals close, when
their healthssurance is cut off, when they lose their friends,
lose their jobs because clean energy has been so decimated,
They'll remember. They'll remember. We will make sure of that.
Speaker 1 (01:10):
Senate Minority Leader Chuck Schumer.
Speaker 2 (01:12):
There.
Speaker 1 (01:12):
We also heard from Maya McGuinness. She is the president
of the Committee for a Responsible Federal Budget and she
says the increase to the national debt could top four
trillion dollars.
Speaker 3 (01:23):
I think it will probably pass, but I do think
there's a big question about whether the House is going
to say, no, we're not going with the Senate version,
and we're going to need to go back to our
version and work out those differences.
Speaker 1 (01:33):
She is Maya mcguinnis the president of the Committee for
a Responsible Federal Budget. Earlier today, President Trump toured the
migrant facility in the Florida Everglades known as Alligator Alcatraz.
Here is Trump speaking alongside Homeland Security Secretary Christy Nome.
Speaker 3 (01:50):
If they self deport and go home, they can come
back legally, we will let them come back.
Speaker 1 (01:54):
Then there is a lot of self importation.
Speaker 2 (01:57):
But if you wait and we bank you to this facility,
you don't ever get to come back to America.
Speaker 1 (02:03):
That is President Trump speaking alongside Homeland Security Secretary Christy Nome. Now,
this facility is part of Trump's efforts to ramp up
deportations by expanding detention capacity. The outlook for those FED
rate cuts seemed to dim a bit on signs of
a still healthy labor market, job openings in the US
hitting the highest level since November, and at the same
(02:26):
time layoffs declined. And today FED share J. Powell reiterated
his weight in sea stance on interest rates given the
inflationary implications of those higher tariffs. Even so, when asked
if July were too soon for a rate cut, Powell
didn't rule out the possibility. Also today President Trump doubled
(02:47):
down on his criticism of the FED share.
Speaker 2 (02:51):
And so we took it one hundred and twenty nine
million a tariffs already. We haven't even started no inflation.
Our country is strong. Our interest rate three points lower.
If our interest rate was three points lower, that's almost
a threeion dollars in costs.
Speaker 1 (03:06):
Kind of sto just by the signing of a pend.
Speaker 2 (03:07):
But we have a moron at the head of the FED.
Speaker 1 (03:10):
He's a moron, President Trump, speaking there of FED shar J. Powell.
We go to New York next, where the jury in
the sex trafficking trial of music mogul Sean Diddy Combs
says it's reached a verdict on four of five counts. However,
jurors have been unable to reach a decision on count one,
racketeering conspiracy. Here is Bloomberg Legal analyst June Grosso.
Speaker 3 (03:33):
This happens sometimes where they can't reach a thing, and
the judge says, go back and deliberate some more, and
then if they come out again and say we still
can't reach a verdict, then he'll give them what's called
an Allen charge or a dynamite charge, where he tells
them to go back and listen to the opinions of
your fellow jurors and try to reach a decision. If
they can't after that, then he might declare a mistrial.
Speaker 1 (03:55):
That is Bloomberg's June Grosso. Now, the count one charge
falls under the Racketeer Influenced and Corrupt Organizations Act or RICO.
It's best known for being used in organized crime and
drug cartel cases. And that is news when you want
it with Bloomberg News. Now, I'm Doug Chrisner, and this
is Bloomberg
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