Trump Orders New Iran Attack, Warsh Could Cut Fed Meetings, More
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What is the main topic discussed in this episode?
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News when you want it with Bloomberg News Now. I'm Monica Ricks. President Trump is weighing new attacks on Iran this weekend. That's according to the Wall Street Journal, which is citing sources that are now casting doubts on negotiations to end the war. The president also talked to reporters about it from Camp David yesterday.
They're being decimated. They have no Navy. They have no Air Force. They have no anti-aircraft. Doesn't mean they don't have any capability.
The U.S. and Iran exchanged more airstrikes this week, and Trump has repeatedly expressed frustration with the state of the conflict, which continues to cause disruptions to global energy markets and could now create political risks for Republicans in November. The president's pick for Attorney General, Acting Attorney General Todd Blanch, now faces an uncertain path to confirmation after Trump doubled down yesterday on an anti-government weaponization fund that would pay his political allies, including January 6th rioters. Why not just put that in writing?
But, you know, I wish it weren't, to be honest with you. I think people were horribly treated, horribly abused. This has nothing to do with Todd. This was me. Horribly abused. And I'd like to see them compensated for the pain.
Republican Senators John Cornyn and Tom Tillis have refused to confirm Blanche unless the president kills the fund in writing. Stocks ended a chaotic week and month yesterday as investors weighed big tech earnings and decision-making at the Fed under guidance of new chairman Kevin Warsh. The New York Times reports Warsh may be considering scaling back the central bank's scheduled policy meetings now, undoing decades of precedent. Bloomberg's Ed Kalecki has more.
Currently, Fed policymakers meet eight times a year for a two-day gathering, after which they announce their policy decision. A reduction in the number of meetings would mark a significant shift for the U.S. central bank, coming at a moment when investors have criticized Warsh's attempt to limit guidance to markets on the direction of interest rates and as the Fed faces mounting pressure to do more to curb inflation. Ed Kalecki, Bloomberg Radio.
The Fed held interest rates steady this week, which was expected, but investors weren't happy when Warsh declined to explain why.
Is the Trump administration planning new military strikes on Iran?
Now, Jonathan Golub is chief equity strategist at Seaport Research Partners and weighed in on Warsh, saying the market doesn't like uncertainty.
The moves are going to be more clumpy. If the Fed wants to raise or lower rates, they're going to have to move less frequency in bigger amounts. The speculation around that goes up, the volatility goes up. And the value of assets, whether it be equities or bonds, is lower in that kind of an environment.
Equity strategist Jonathan Golub on Bloomberg This Weekend. Cybersecurity experts are blaming Anthropic and OpenAI for sloppy safeguards and say they could now be threats to national security after their models broke into outside organizations. Anthropic's model Clawed was supposed to be off the internet during experiments, but an error allowed it to access the web and conduct attacks. OpenAI suffered a similar mishap with Hugging Face last week. FIFA's president's backing off a plan now to sell a stake in the World Cup to outside investors after days of fierce international backlash. Sports marketing analyst Bob Dorfman called it shocking.
Infantino saw the writing on the wall and realized that this wasn't going to go anywhere. It didn't help that he really didn't let on that this was going on. He didn't really advance notice anyone.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:00–2:41
2
Is the Trump administration planning new military strikes on Iran?
2:41–4:00
3
What did President Trump say at Camp David about Iran’s military capabilities?
4:00–6:08
4
How could the president’s comments affect the confirmation of Acting AG Todd Blanche?
6:08–6:37
Speakers
5 identifiedMore from Bloomberg News Now
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