"Balance of Power" focuses on the intersection of politics and global business. On today's show, Doug Rediker, Managing Partner at International Capital Strategies and formerly represented the US on the Executive Board of the International Monetary Fund (IMF), says former Fed Chair Jerome Powell’s continued presence on the Board of Governors is a “tempering influence” on current Fed Chair Kevin Warsh. Rep. Greg Landsman (D-OH) says naming a White House AI czar would not provide the level of oversight needed around AI and data centers. Chris Swonger, President and CEO of the Distilled Spirits Council of the United States, says the US represents 93% of the Canadian spirits industry and warns that restrictions on cross-border trade will hurt the hospitality economy on both sides of the border. (Source: Bloomberg)
Chris Swonger, President and CEO of the Distilled Spirits Council of the United States, says the US represents 93% of the Canadian spirits industry and warns that restrictions on cross-border trade will hurt the hospitality economy on both sides of the border. Swonger says the spirits industry has thrived with no trade barriers and zero-to-zero tariffs, and says the sector is also facing pressure from GLP-1 medications, younger consumers drinking less and inflationary challenges. He speaks with Kailey Leinz and Joe Mathieu on Bloomberg’s "Balance of Power." (Source: Bloomberg)
Rep. Greg Landsman (D-OH) says naming a White House AI czar would not provide the level of oversight needed around AI and data centers. Rep. Landsman says nondisclosure agreements surrounding data-center deals should be banned and says his legislation would require data centers to pay their costs rather than pass them on to individuals. Rep. Landsman says the bill would fine data centers $15 million a day for noncompliance and transfer authority over who pays to the Federal Energy Regulatory Commission. He speaks with Kailey Leinz and Joe Mathieu on Bloomberg’s "Balance of Power." (Source: Bloomberg)
Doug Rediker, Managing Partner at International Capital Strategies and formerly represented the US on the Executive Board of the International Monetary Fund (IMF), says former Fed Chair Jerome Powell’s continued presence on the Board of Governors is a “tempering influence” on current Fed Chair Kevin Warsh. Rediker says he has been reluctant to think the Fed would raise rates because of the proximity to the midterm elections, though he says he is not highly confident in that view. Rediker also says bond markets in the US and France are subject to the influence of “bond vigilantes” and says he would not rule out the 10-year Treasury yield reaching 6%. He speaks with Kailey Leinz and Joe Mathieu on Bloomberg’s "Balance of Power." (Source: Bloomberg)
Two Iranian nationals who entered the UK on small boats have been charged with preparing acts of terrorism, the Metropolitan Police said in a statement, with tensions between Britain and Iran already high over another security incident.
The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF
September employment data showing the US added fewer jobs than economists estimated eroded expectations for a Fed rate hike this month or in December. Nonfarm payrolls increased 29,000 last month after a downward revision to the prior two months, according to Bureau of Labor Statistics data out Friday. That missed all estimates in a Bloomberg survey of economists. The unemployment rate rose to 4.2%, partly reflecting a growing workforce.
On today's episode:
Mike McKee, Bloomberg News & Kathy Bostjancic, Chief Economist at Nationwide
Nathan Dean, Senior US Policy Analyst for Bloomberg Intelligence
Michael Lohan, CEO of IDA Ireland
Yannick Benjamin, Founder of Wine on Wheels (Source: Bloomberg)
Bloomberg Money takes the pulse of your financial life, powered by the reporting of our global newsroom. Today's guests: NYU Professor of Management Practice Suzy Welch and Apollo Chief Economist Torsten Slok. (Source: Bloomberg)
President Donald Trump said he won’t ban US diesel exports, after Group of Seven nations and their partners agreed to release some of their emergency fuel stockpiles in a bid to bring down soaring prices.
President Donald Trump threatened new trade retaliation against South Korea if it doesn’t follow through with an investment in a liquefied natural gas project in Alaska.
White House Council of Economic Advisers Chairman Chris Phelan says that inflation is coming down sufficiently fast. Speaking on "Bloomberg The Close," Phelan also adds that he doesn't think the Federal Reserve's last interest rate hike was justified. (Source: Bloomberg)
A slowdown in the US jobs market drove stocks higher on speculation the Federal Reserve won’t be forced to lift rates any time soon. The US added fewer jobs than expected in September and wage growth slowed, signaling some caution among employers amid rising costs. We get reaction from Bloomberg's Mike McKee & Kathy Bostjancic, Senior Vice President & Chief Economist at Nationwide. Network Solutions Group CFO Jennifer Buchanon joins Bloomberg's Nina Trentmann for our CFO Briefing. Plus - Illinois Governor JB Pritzker is signaling that he still sees hope his state will head off the Chicago Bears’ plan to move to Indiana. Vanessa Perdomo-Maglione, Bloomberg Sports Business Reporter, joins for a closer look. All on the latest episode of "Bloomberg Businessweek Daily."
(Source: Bloomberg)
The US Justice Department isn’t reopening a criminal investigation into former Federal Reserve Chairman Jerome Powell for cost overruns related to the central bank’s building renovation project. During an interview with Bloomberg's Myles Miller, Attorney General Todd Blanche says the department didn’t rule out continuing to look into the project’s oversight and potentially take action if evidence of wrongdoing came to light. (Source: Bloomberg)
Bloomberg's Sarah Foster joins Scarlet Fu an Tom Keene on "Bloomberg Money." Heading into the November midterm elections, frustration over affordability issues has largely focused on rising fuel, food and housing costs. But for millions of Americans, those expenses are piling on top of another threat to their household budgets: surging student loan bills.
(Source: Bloomberg)
The UK’s Crown Prosecution Service has decided to prosecute a 28-year-old man for preparing acts of terrorism, including against Reform UK leader Nigel Farage, according to a statement.
On the early edition of Balance of Power, Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz discuss the latest US economic data. On today's show, Groundwork Collaborative Senior Fellow Kitty Richards, Stonecourt Capital Partner Rick Davis, Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino and Elias Law Group Litigation Chair Elisabeth Frost. (Source: Bloomberg)
The US Justice Department isn’t reopening a criminal investigation into former Federal Reserve Chair Jerome Powell for cost overruns related to the central bank’s building renovation project.
Premier Giorgia Meloni’s budget is aiming to finally get Italy’s deficit below the European Union’s limit this year, helped by faster-than-expected growth.
President Donald Trump is expected to name US Director of National Intelligence Jay Clayton as his next artificial intelligence czar, according to people familiar with the matter, tasking him with spurring the technology’s development even as it faces backlash over safety risks.
