Chapter 1: What is the main topic discussed in this episode?
The UK stands apart as a place to do business, not because of one advantage, but many working together. Over Ā£10 trillion in capital, four of the world's top universities, a 10-year industrial strategy in action, its stability with dynamism, global reach with local depth. It all adds up to greater growth. Find out more at business.gov.uk slash growth.
News when you want it with Bloomberg News Now. I'm Ed Kalecki.
Chapter 2: What recent legislation did the Senate pass regarding government funding?
The Senate this evening passed a government spending package aimed at averting a long U.S. government shutdown as the White House continues to negotiate with Democrats on placing new limits on immigration raids that have provoked a national outcry.
Several government agencies are still headed for at least a short lapse in funding, with House Speaker Mike Johnson not planning to hold a vote on the legislation until Monday. Funding for those agencies, which include the Treasury, Defense, Homeland Security, Transportation, Health and Human Services and Labor Departments, expires at midnight.
The partial government shutdown is not expected to have widespread effects on government operations if it is resolved by early next week. Kevin Warsh waited almost a decade before finally clinching President Trump's nomination to be chair of the Federal Reserve. He won't need to wait as long before his first big test in the job.
Having won the race with a promise of regime change of the Fed, suggesting he would make significant changes, Warsh has pledged to shrink the Fed's balance sheet and argued that a productivity boom driven by artificial intelligence will keep inflation low. While that prognosis was enough to convince Trump, his Fed pick will now need to convince fellow policymakers and investors.
Democrat Senator Elizabeth Warren has concerns about the nomination.
Donald Trump has made clear he does not want an independent Fed. He wants a Fed that acts like a sock puppet for him. He has threatened to fire Jerome Powell. He started a bogus investigation, a bogus investigation of another member of the Fed, Lisa Cook. And he has said openly he will not name anyone to be Fed chair who does not agree with Donald Trump.
Donald Trump wants to be calling the shots.
Warren spoke with Joe Matthew on Bloomberg's balance of power. Federal Reserve Governor Stephen Myron tells Bloomberg News that Warsh will prove effective in his leadership of the Fed's Monetary Policy Committee.
Chairman-designate Warsh has a long and illustrious career in history as a very insightful thinker on monetary policy. I think he's a fantastic pick from the president. I think he's got enormous credibility. I think he's got enormous gravitas. I think he's got enormous respect from financial markets, from economists, from everyone. I think he's going to do just a knockout job.
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Chapter 3: What are the implications of the government shutdown on federal agencies?
The choice elevates a career staffer to run the federal government's leading agency for economic statistics, which has been without a commissioner since Trump fired its previous chief in August out of frustration with with numbers that showed bad news about the job market. The Justice Department on Friday released many more records from its investigative files on Jeffrey Epstein.
Resuming disclosures under a law intended to reveal what the government knew about the millionaire financier's sexual abuse of young girls and his interactions with the rich and powerful. Deputy Attorney General Todd Blanch said the department was releasing more than 3 million pages of documents in the latest Epstein disclosure, as well as more than 2,000 videos and 180,000 images.
The files posted to the department's website include some of the several million pages of records. that officials said were withheld from an initial release of documents in December. Congressional Democrats, who have been key to pushing for the release of case files on Epstein, are arguing that Friday's release is only about half of the files that have been collected.
Jeff Bezos' Blue Origin will pause tourist flights to space for no less than two years in order to prioritize development of its moon lander and other lunar technologies. Blue Origin said in a statement announcing the news that the decision reflects Blue Origin's commitment to the nation's goal of returning to the moon and establishing a permanent, sustained lunar presence.
Disney chief executive Bob Iger has told associates that he plans to step down as CEO and pull back from daily management before the December 31st end of his contract. This according to people familiar with the matter. The Entertainment Giants board of directors is planning to meet next week at its headquarters in Burbank, California.
where they are expected to vote on who should take the top job. Again, this according to people familiar with the matter. Actress Catherine O'Hara, best known for roles in films such as Home Alone and Best in Show, and TV series such as Schitt's Creek, has died at the age of 71.
The Friday numbers on Wall Street, the Dow fell 179, NASDAQ lost 223, the S&P dropped 29, the 10-year Treasury yield at 4.24%, the two-year at 3.52%. That's news when you want it with Bloomberg News Now. I'm Ed Kalecki. This is Bloomberg.
As a place to do business, the UK stands apart. Not because of a single advantage, but a uniquely powerful combination of many. As one of the world's leading financial centres, the UK puts over Ā£10 trillion to work every day, fuelling innovation across every sector. Home to four of the world's top universities, it provides exceptional talent and breakthrough research.
This sits alongside a clear 10-year industrial strategy, unlocking smarter regulation and making it faster and easier to operate. Stability with dynamism.
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Chapter 4: Who is Kevin Warsh and what is his significance in the Federal Reserve?
Global connectivity with local depth. It all adds up to greater growth. Visit business.gov.uk slash growth.
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