May 2, 2024 • 3 mins
Listen for the latest from Bloomberg News
See omnystudio.com/listener for privacy information.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:01):
News when you want it with Bloomberg News Now, I'm
Brian Curtis in Hong Kong. The Arizona Senate has voted
to repeal an eighteen sixty four law that would make
all abortions of crime. Bloomberg's Amy Morris has more.
Speaker 2 (00:15):
Arizona Supreme Court revived the one hundred and sixty year
old law in early April. It already passed the Arizona House,
and Governor Katie Hobbes has pledged to sign the repeal.
Repealing the Civil War era law then leaves the previous
law intact, and that one allows women in Arizona able
to have abortions until fifteen weeks of pregnancy. Amy Morris,
Bloomberg Radio.
Speaker 1 (00:35):
In other news, the presidents of Yale, UCLA and the
University of Michigan will testify about campus anti semitism on
Capitol Hill later this month. This has protests over the
war in Gaza rage across the country. Bloomberg Governments. Jonathan
Tumari reports tensions have proven difficult for President Biden to navigate.
Speaker 3 (00:55):
He's relied on strong support from Jewish voters for a
long time, and there are a lot of Jewish deemic
who support Israel. But there's also a lot of younger
voters who are an important part of the Democratic coalition,
who are very sympathetic to Palestinians and who are joining
these protests. And so it's an issue that can really
split the Democratic coalition in a way that could be
difficult in an election that's expected to be really, really close.
Speaker 1 (01:18):
Bloomberg' Jonathan Tamari the US and Saudi Arabia are nearing
a historic pact that would offer the kingdom's security guarantees
and would lay out a possible pathway to diplomatic tize
with Israel. Sources say negotiations have sped up in recent weeks,
and many officials are optimistic that Washington and Riod could
reach a deal within weeks. They say the agreement would
(01:40):
amount to a new version of a framework, a framework
that was scuttled when Hamas attacked Israel on October seventh.
Treasury Secretary Janet Yellen is delivering a warning here about
threats to democratic institutions and their economic impact. We get
the story from Bloomberg's Nathan Hagar in Washington to.
Speaker 4 (02:00):
Give a speech on Friday at the McCain Institute in Arizona,
but the Treasury departments already put out some excerpts. She
says federal reserve independence and transparency matter for financial stability
and economic growth. The Wall Street Journal reported last month
that advisors to former President Donald Trump are urging him
to put more influence on the FED, and Yellen is
invoking the January sixth attack at the US Capitol. She
(02:22):
says threats to democracy are growing and undercut the foundation
to sustainable growth. In Washington, I'm Nathan Hager Bloomberg Radio.
Speaker 1 (02:30):
The FED held its key rate steady again today, citing
a lack of progress on inflation. The Fed fund's target
has been in a range between five and a quarter
and five and a half percent since July of last year.
At his news conference, Chair J. Powell said, gaining confidence
to cut rates will take longer than expected.
Speaker 5 (02:47):
We know that reducing policy restraint too soon or too
much could result in a reversal of the progress we've
seen on inflation. At the same time, reducing policy restraint
too late or too little could unduly weaken economic activity
and employment. In considering any adjustments to the target range
for the Federal Funds rate, the Committee will carefully assess
incoming data, the evolving outlook, and the balance of risks.
Speaker 1 (03:09):
The decision to leave rates unchanged was unanimous. For reaction,
we turned to Bloomberg opinion columnists Mohammed el Arian. He said,
keeping rates higher for longer may not be the right answer.
Speaker 6 (03:21):
If you look at what is sticking in inflation, it's
not particularly responsive to higher interest rate for longer. It
really isn't. So if they acknowledge the soft economy, they
end up having to then discuss, at least internally, whether
two percent is a right inflation target.
Speaker 1 (03:39):
Mohammadel Arian. The Fed also outlined plans to slow the
pace of shrinking its balance sheet. The aim is to
reduce the risk of potential market turbulence. That's news when
you want it with Bloomberg News now. I'm Brian Curtis.
This is Bloombergs
News when you want it with Bloomberg News Now, I'm
Brian Curtis in Hong Kong. The Arizona Senate has voted
to repeal an eighteen sixty four law that would make
all abortions of crime. Bloomberg's Amy Morris has more.
Speaker 2 (00:15):
Arizona Supreme Court revived the one hundred and sixty year
old law in early April. It already passed the Arizona House,
and Governor Katie Hobbes has pledged to sign the repeal.
Repealing the Civil War era law then leaves the previous
law intact, and that one allows women in Arizona able
to have abortions until fifteen weeks of pregnancy. Amy Morris,
Bloomberg Radio.
Speaker 1 (00:35):
In other news, the presidents of Yale, UCLA and the
University of Michigan will testify about campus anti semitism on
Capitol Hill later this month. This has protests over the
war in Gaza rage across the country. Bloomberg Governments. Jonathan
Tumari reports tensions have proven difficult for President Biden to navigate.
Speaker 3 (00:55):
He's relied on strong support from Jewish voters for a
long time, and there are a lot of Jewish deemic
who support Israel. But there's also a lot of younger
voters who are an important part of the Democratic coalition,
who are very sympathetic to Palestinians and who are joining
these protests. And so it's an issue that can really
split the Democratic coalition in a way that could be
difficult in an election that's expected to be really, really close.
Speaker 1 (01:18):
Bloomberg' Jonathan Tamari the US and Saudi Arabia are nearing
a historic pact that would offer the kingdom's security guarantees
and would lay out a possible pathway to diplomatic tize
with Israel. Sources say negotiations have sped up in recent weeks,
and many officials are optimistic that Washington and Riod could
reach a deal within weeks. They say the agreement would
(01:40):
amount to a new version of a framework, a framework
that was scuttled when Hamas attacked Israel on October seventh.
Treasury Secretary Janet Yellen is delivering a warning here about
threats to democratic institutions and their economic impact. We get
the story from Bloomberg's Nathan Hagar in Washington to.
Speaker 4 (02:00):
Give a speech on Friday at the McCain Institute in Arizona,
but the Treasury departments already put out some excerpts. She
says federal reserve independence and transparency matter for financial stability
and economic growth. The Wall Street Journal reported last month
that advisors to former President Donald Trump are urging him
to put more influence on the FED, and Yellen is
invoking the January sixth attack at the US Capitol. She
(02:22):
says threats to democracy are growing and undercut the foundation
to sustainable growth. In Washington, I'm Nathan Hager Bloomberg Radio.
Speaker 1 (02:30):
The FED held its key rate steady again today, citing
a lack of progress on inflation. The Fed fund's target
has been in a range between five and a quarter
and five and a half percent since July of last year.
At his news conference, Chair J. Powell said, gaining confidence
to cut rates will take longer than expected.
Speaker 5 (02:47):
We know that reducing policy restraint too soon or too
much could result in a reversal of the progress we've
seen on inflation. At the same time, reducing policy restraint
too late or too little could unduly weaken economic activity
and employment. In considering any adjustments to the target range
for the Federal Funds rate, the Committee will carefully assess
incoming data, the evolving outlook, and the balance of risks.
Speaker 1 (03:09):
The decision to leave rates unchanged was unanimous. For reaction,
we turned to Bloomberg opinion columnists Mohammed el Arian. He said,
keeping rates higher for longer may not be the right answer.
Speaker 6 (03:21):
If you look at what is sticking in inflation, it's
not particularly responsive to higher interest rate for longer. It
really isn't. So if they acknowledge the soft economy, they
end up having to then discuss, at least internally, whether
two percent is a right inflation target.
Speaker 1 (03:39):
Mohammadel Arian. The Fed also outlined plans to slow the
pace of shrinking its balance sheet. The aim is to
reduce the risk of potential market turbulence. That's news when
you want it with Bloomberg News now. I'm Brian Curtis.
This is Bloombergs
Popular Podcasts
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations.
The Nikki Glaser Podcast
Every week comedian and infamous roaster Nikki Glaser provides a fun, fast-paced, and brutally honest look into current pop-culture and her own personal life.
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.