TikTok Ban Update; Fed in No Rush to Cut

Bloomberg, Audio Studios, podcasts, radio news. 0:00:11.000 --> 0:00:13.800 Good morning, I'm Nathan Hager and I'm John Tucker. Here 0:00:13.840 --> 0:00:15.440 are these stories we're following today. 0:00:16.320 --> 0:00:18.600 We'll begin with the latest on the effort to force 0:00:18.600 --> 0:00:21.560 the sale of the Chinese owned social app TikTok. The 0:00:21.600 --> 0:00:25.200 issues now before the Senate. After the House overwhelmingly passed 0:00:25.200 --> 0:00:27.680 the bill that would ban TikTok in the US unless 0:00:27.720 --> 0:00:31.720 byte Dance sells it within six months, Senate Intelligence Chair 0:00:31.760 --> 0:00:35.600 Mark Warner tells Bloomberg's balance of power, senators should expedite 0:00:35.640 --> 0:00:36.120 this bill. 0:00:36.479 --> 0:00:38.320 I think we need to get this done. And again, 0:00:38.720 --> 0:00:39.120 what again? 0:00:39.159 --> 0:00:42.040 We need to make clear as somebody's talking about a band, 0:00:42.200 --> 0:00:47.680 we're talking about transferring the ownership and the algorithm to 0:00:48.880 --> 0:00:50.519 some other control of It's not Chinese. 0:00:50.960 --> 0:00:53.520 But lawmakers on both sides of the isle are urging 0:00:53.600 --> 0:00:57.320 more caution, including Senate Foreign Relations Chair Ben Carden. 0:00:57.880 --> 0:00:59.480 Don't want to inhibit free speech. 0:00:59.520 --> 0:01:02.320 We don't want to inhibit particularly a large segment of 0:01:02.360 --> 0:01:04.840 Americans who get a lot of information from TikTok. 0:01:05.319 --> 0:01:07.679 But it is a matter of concern that is right 0:01:07.720 --> 0:01:08.640 for us to take up. 0:01:08.840 --> 0:01:11.920 And other senators are calling for a full amendment process. 0:01:12.000 --> 0:01:14.800 That could tie up the bill for months. TikTok has 0:01:14.880 --> 0:01:18.199 been lobbying the Senate hard against this legislation even before 0:01:18.280 --> 0:01:19.200 the House passed it. 0:01:19.440 --> 0:01:22.520 And sticking with politics, it's a legal setback for former 0:01:22.560 --> 0:01:25.919 President Donald Trump. A federal judge in Florida has denied 0:01:25.959 --> 0:01:29.360 he has been to dismiss charges that he mishandled classified 0:01:29.440 --> 0:01:32.480 documents at mar A Lango. Trump's lawyers had argued the 0:01:32.560 --> 0:01:36.080 charges from Special counsel Jack Smith were too vague. US 0:01:36.200 --> 0:01:39.560 District Judge Alan Cannon, who's a Trump appointee, denied the 0:01:39.600 --> 0:01:43.480 former president's motion without prejudice, meaning the issue could be 0:01:43.600 --> 0:01:45.040 raised again later. 0:01:45.000 --> 0:01:47.640 And back on Capitol Hill, John sentim Majority leader Chuck 0:01:47.680 --> 0:01:51.360 Schumer has reached his breaking point over the war in Gaza. 0:01:51.440 --> 0:01:53.680 In a speech on the Senate flor Schumer called on 0:01:53.800 --> 0:01:57.760 Israel to hold new elections. He says Prime Minister Benjamin 0:01:57.800 --> 0:02:01.640 Netanyahu has lost his way with a mounting civilian death 0:02:01.640 --> 0:02:04.280 toll in Gaza and for opposing a two state solution 0:02:04.400 --> 0:02:05.440 with the Palestinians. 0:02:05.640 --> 0:02:09.120 As the highest ranking Jewish elected official in our government 0:02:09.800 --> 0:02:13.000 and as a staunch defender of israel I rise today 0:02:13.000 --> 0:02:17.160 to say unequivocally this is a grave mistake, but. 0:02:17.320 --> 0:02:20.640 Senate Minority Leader Mitch McConnell says it's Schumer who's making 0:02:20.639 --> 0:02:21.160 the mistake. 0:02:21.360 --> 0:02:27.120 It is grotesque and hypocritical for Americans, who hyperventilate about 0:02:27.240 --> 0:02:31.160 foreign interference in our own democracy to call for the 0:02:31.280 --> 0:02:34.919 removal of a democratically elected leader of. 0:02:34.919 --> 0:02:38.320 Israel, and the White House is stopping short of endorsing 0:02:38.400 --> 0:02:42.200 Senate Leader Schumer's remarks. National Security Council spokesman John Kirby 0:02:42.240 --> 0:02:44.840 says the White House is laser focused on getting a 0:02:44.880 --> 0:02:47.920 temporary ceasefire in place between Israel and Hamas. 0:02:47.639 --> 0:02:50.840 And we now head overseas, where France's President Emanuel Matcron 0:02:50.919 --> 0:02:55.760 says the European Union faces an existential threat unless Russian 0:02:55.840 --> 0:02:59.480 forces are defeated in Ukraine. Macron's been speaking to French 0:02:59.480 --> 0:03:01.880 television ahead of a meeting with the leaders of Poland 0:03:01.919 --> 0:03:02.520 and Germany. 0:03:04.160 --> 0:03:07.800 We have suffered the consequences in Europe, the price of gas, 0:03:08.080 --> 0:03:12.760 the economic situation, the price of grain, the economic disruptions 0:03:12.800 --> 0:03:17.280 that followed are the consequences of this war that Russia 0:03:17.360 --> 0:03:21.600 has started. If Russia wins this war, the credibility of 0:03:21.639 --> 0:03:25.720 Europe will be reduced to zero. What would be the 0:03:25.760 --> 0:03:30.360 credibility in our countries of an EU whose members allowed 0:03:30.560 --> 0:03:31.320 that to happen? 0:03:33.040 --> 0:03:36.360 He was speaking through an interpreter. Emmanuel Macron's comments as 0:03:36.440 --> 0:03:40.120 voters hinder the polls for a Russian presidential election that 0:03:40.240 --> 0:03:42.960 Vladimir Putin is all but guaranteed to win. 0:03:43.040 --> 0:03:45.680 And John another European leader's warning of the threat posed 0:03:45.680 --> 0:03:48.240 by Russia's invasion the head of Latvia, one of the 0:03:48.240 --> 0:03:51.760 Baltic states that borders Russia. Latvian Prime Minister of Viga 0:03:51.800 --> 0:03:54.840 Selina says a Russian victory would have a global impact. 0:03:55.120 --> 0:03:59.960 If Russia wins, those consequences will affect all the world. 0:04:00.400 --> 0:04:04.040 Also Washington, also United States, not just Europe, will be 0:04:04.080 --> 0:04:06.720 affected by this result of the conflict. 0:04:06.880 --> 0:04:09.560 Lad Via Prime Minister of Vica Selina ads she supports 0:04:09.600 --> 0:04:13.360 the idea of sending NATO troops to Ukraine to train 0:04:13.440 --> 0:04:16.720 the country soldiers. Get the full conversation on the Bloomberg 0:04:16.760 --> 0:04:19.360 Balance of Power podcasts. You can find it on Apple, 0:04:19.480 --> 0:04:22.360 Spotify and wherever you get your podcasts. 0:04:21.880 --> 0:04:25.440 And turning to the Marcus, futures are mixed to lower. 0:04:25.440 --> 0:04:28.279 As we close out the trading week, stocks fell yesterday, 0:04:28.360 --> 0:04:32.880 Treasury yields they climbed after another hot inflation report, reinforced 0:04:32.880 --> 0:04:35.000 bets the Fed is going to be a no rush 0:04:35.040 --> 0:04:38.200 to cut interest rates. Let's get more from Bloomberg Economy 0:04:38.400 --> 0:04:39.799 editor Jill Decease. 0:04:40.480 --> 0:04:42.719 When the Fed, which has been spending the last couple 0:04:42.800 --> 0:04:45.280 of months, really really pushing back from this idea of 0:04:45.360 --> 0:04:49.200 early interest rate cuts, this years need for patients, this 0:04:49.360 --> 0:04:51.880 need to sit back and examine the data before making 0:04:52.040 --> 0:04:55.080 those decisions on when to begin this trajectory toward rate cut. 0:04:55.160 --> 0:04:57.479 So I think that that's really kind of taking hold here. 0:04:57.520 --> 0:04:59.840 I mean, were getting this data that's showing us that 0:05:00.160 --> 0:05:02.240 there's still quite a bit of resilience in the economy. 0:05:02.240 --> 0:05:03.920 It's not time to cut rate check you know, as 0:05:03.920 --> 0:05:06.720 we're going, it's just pushing back further and further those 0:05:06.760 --> 0:05:09.039 expectations for those cuts until you know, at this point 0:05:09.080 --> 0:05:10.600 the middle of the back half of the year. 0:05:11.200 --> 0:05:14.200 And Bloomberg's Jill Lisa says traders have paired their vents 0:05:14.200 --> 0:05:16.880 on Fed rate cuts this year. The swaps markets are 0:05:16.880 --> 0:05:19.640 now fully pricing in the first move not in June 0:05:19.640 --> 0:05:20.320 but July. 0:05:20.720 --> 0:05:23.960 But john Bitcoin is extending its retreat as well from 0:05:24.000 --> 0:05:27.280 its latest record high. Checking the crypto currency right now, 0:05:27.320 --> 0:05:30.400 it's down more than five percent, trading at sixty six 0:05:30.880 --> 0:05:34.640 eight hundred dollars. There's an intensifying debate about whether crypto's 0:05:34.640 --> 0:05:37.200 bull run has reached a bubble. Bitcoin did reach an 0:05:37.200 --> 0:05:40.119 all time high of almost seventy four thousand earlier this week. 0:05:40.279 --> 0:05:42.480 A gauge of the top one hundred tokens, which also 0:05:42.560 --> 0:05:46.280 includes ether, BnB and Solana, is up about sixty percent 0:05:46.360 --> 0:05:47.120 so far this year. 0:05:47.400 --> 0:05:51.120 And meanwhile, copper handswers to an eleven month high. In fact, 0:05:51.120 --> 0:05:54.520 it rallied to nine thousand dollars a ton today on 0:05:54.640 --> 0:05:57.240 Best Today. You pick up in global manufacturing will push 0:05:57.279 --> 0:06:01.440 up demand for industrial commodities seen as a global economic 0:06:01.480 --> 0:06:04.760 bell weather the global economy. The metal has surged this 0:06:04.800 --> 0:06:07.440 week as investors warmed to the idea that the worst 0:06:07.440 --> 0:06:09.960 of a global downturn has passed. 0:06:09.760 --> 0:06:12.839 And checking individual stocks on the move, shares of Adobe 0:06:12.960 --> 0:06:15.599 are down more than eleven percent in early trading. The 0:06:15.640 --> 0:06:18.960 software company delivered a week sales outlook for the current quarter. 0:06:19.120 --> 0:06:21.159 We get the story from Bloomberg's Charlie Pellett. 0:06:21.440 --> 0:06:25.480 The quarter fueled concerns that new AI focus startups pose 0:06:25.520 --> 0:06:29.279 a competitive threat. Adobe said revenue will be five point 0:06:29.320 --> 0:06:33.359 two five to five point three billion in the period. Analysts, 0:06:33.440 --> 0:06:37.080 on average projected five point three to one billion. The 0:06:37.160 --> 0:06:41.280 longtime leader in software for creative arts professionals, has faced 0:06:41.360 --> 0:06:46.400 recurring anxieties that new generative AI based startups will cut 0:06:46.440 --> 0:06:48.400 into its market. In New York. 0:06:48.640 --> 0:06:54.600 Charlie Pellett Bloomberg Radio, All right, Charlie, thank you, and 0:06:54.640 --> 0:06:55.840 now it's time to take a look at some of 0:06:55.920 --> 0:06:58.159 the other stories making news in New York and around 0:06:58.200 --> 0:07:02.120 the world with Bloomberg's Michael Good Friday Morning, Michael Good. 0:07:01.880 --> 0:07:05.320 Friday, to you, Nathan. The Manhattan District Attorney is requesting 0:07:05.360 --> 0:07:08.919 a one month delay in former President Donald Trump's criminal 0:07:08.960 --> 0:07:13.680 case for allegedly concealing payments to adult film star Stormy Daniels. 0:07:13.920 --> 0:07:16.360 It comes less than two weeks before that trial was 0:07:16.400 --> 0:07:19.960 set to begin. Prosecutors said they just received tens of 0:07:20.000 --> 0:07:23.680 thousands of pages and documents from the Justice Department, and 0:07:23.720 --> 0:07:26.280 they want to give Trump's legal team up to thirty 0:07:26.360 --> 0:07:29.560 days to review them. The documents are related to Trump's 0:07:29.560 --> 0:07:33.040 former fixer Michael Cohen, who wrote the check to Daniels. 0:07:33.360 --> 0:07:36.160 Trump has pleaded not guilty. Police in New York City 0:07:36.240 --> 0:07:38.800 say a thirty six year old man has been hospitalized 0:07:39.000 --> 0:07:41.200 and a thirty two year old man is in custody 0:07:41.520 --> 0:07:45.480 after an argument at a Brooklyn subway station escalated into gunfire. 0:07:45.960 --> 0:07:49.360 Subway riders were ducking for cover moments after a man 0:07:49.520 --> 0:07:52.480 was shot in the head inside the station in downtown 0:07:52.520 --> 0:07:56.200 Brooklyn shortly before five pm. Witnesses say the man who 0:07:56.240 --> 0:07:59.920 was shot was acting quote aggressive and provocative and started 0:08:00.200 --> 0:08:03.800 an argument with a thirty two year old. NYPD Chief 0:08:03.800 --> 0:08:06.520 of Transit Michael Kempers said the man who was shot 0:08:06.680 --> 0:08:09.640 had brandished a knife or razor at first, but the 0:08:09.800 --> 0:08:11.640 argument continued and escalated. 0:08:12.200 --> 0:08:18.280 During this physical confrontation, that gun we believe was removed 0:08:18.880 --> 0:08:21.200 from the thirty six year old by the thirty two 0:08:21.280 --> 0:08:25.440 year old, and a thirty two year old fired multiple shots, 0:08:25.480 --> 0:08:27.080 striking the thirty six year old. 0:08:27.400 --> 0:08:29.920 The thirty six year old is in critical condition. This 0:08:30.040 --> 0:08:33.439 comes just days after Governor Hawkele sent the National Guard 0:08:33.520 --> 0:08:37.360 into stations across the city amid a thirteen percent spike 0:08:37.440 --> 0:08:40.680 and subway crime so far this year. James Crumbley, the 0:08:40.679 --> 0:08:44.080 father of a Michigan school shooter, has been found guilty 0:08:44.080 --> 0:08:47.880 of involuntary manslaughter. It is the second jury conviction against 0:08:47.920 --> 0:08:51.600 Ethan Crumbley's parents, who were accused of failing to secure 0:08:51.600 --> 0:08:54.360 a gun at home and doing nothing to solve the 0:08:54.480 --> 0:08:58.319 mental health problems. Ethan killed four students at Oxford High 0:08:58.320 --> 0:09:02.520 School in twenty twenty one. Gland County Prosecutor Karen McDonald. 0:09:02.200 --> 0:09:05.720 They could have prevented this shooting and saved these kids' 0:09:05.720 --> 0:09:08.440 lives and protected the hundreds of kids in the school 0:09:08.440 --> 0:09:10.959 that day and all of the members of the Oxford 0:09:10.960 --> 0:09:12.280 community that it devastated. 0:09:13.000 --> 0:09:17.400 Jennifer Cromwley was convicted of involuntary manslaughter in February. Ethan, 0:09:17.440 --> 0:09:20.640 now seventeen years old, is serving a life sentence. The 0:09:20.679 --> 0:09:24.480 Indiana State Police say there are many significant injuries after 0:09:24.520 --> 0:09:28.160 a tornado tour through the community of Winchester last night. 0:09:28.480 --> 0:09:32.080 Superintendent Doug Carter of the Indiana State Police, we. 0:09:32.000 --> 0:09:33.720 Don't know the extent of the damage on the south 0:09:33.800 --> 0:09:34.200 end of town. 0:09:34.280 --> 0:09:35.760 We do know that there have been some buildings and 0:09:35.800 --> 0:09:37.959 homes that are completely destroyed. 0:09:38.080 --> 0:09:40.560 The tornado is part of a storm system that also 0:09:40.640 --> 0:09:45.720 unleashed suspected twisters in parts of Ohio and Kentucky. Global 0:09:45.760 --> 0:09:48.200 news twenty four hours a day and whenever you want 0:09:48.240 --> 0:09:51.680 it with Bloomberg News Now. Hi, Michael Barr, this is Bloomberg. 0:09:51.760 --> 0:09:58.760 Nathan. All right, Michael, thank you. Half of the Bloomberg 0:09:58.800 --> 0:10:02.280 Sports Update. A brought price stayed out of years, John Stashauer, 0:10:02.440 --> 0:10:03.000 Thanks Nathan. 0:10:03.200 --> 0:10:05.839 Underway at the TPC at Sawgrass, opening round of the 0:10:05.840 --> 0:10:08.959 Players Championship, Rory McElroy hit two shots into the water, 0:10:09.480 --> 0:10:11.559 but at ten Birdie signed for a seven hundred and 0:10:11.559 --> 0:10:14.400 sixty five shares the lead for the American Xander Shotley 0:10:14.440 --> 0:10:16.640 and Wyndham Clark and Portland started the four game trip 0:10:16.640 --> 0:10:18.880 for the Nicks. They got forty five points from Jalen 0:10:18.880 --> 0:10:22.079 Bruns in his sixth game this season with forty or more, 0:10:22.160 --> 0:10:25.080 Nicks beat the Blazers one oh five ninety three. Celtics 0:10:25.080 --> 0:10:27.679 got thirty seven from Jalen Brown a home win over 0:10:27.720 --> 0:10:30.920 Phoenix Rangers of Tampa Bay led to nothing second period 0:10:30.960 --> 0:10:33.920 to that point, Igor's Jays Stirkin and not allowed a 0:10:33.960 --> 0:10:36.360 goal in seven straight periods, but the lightning got to 0:10:36.440 --> 0:10:39.600 him pulled away six to three. Brandon point in on 0:10:39.679 --> 0:10:42.040 all six three goals, three assists. Islanders are four to 0:10:42.040 --> 0:10:45.000 nothing lost in Buffalo, Devils won six to two. In Dallas, 0:10:45.040 --> 0:10:48.640 Bruins won in overtime at Montreal. Tons of upsets in 0:10:48.800 --> 0:10:52.240 college basketball, none more so than in the Atlantic Ten 0:10:52.320 --> 0:10:55.959 Tourney in Brooklyn. The top three seeds for Richmond, Loyola, 0:10:56.040 --> 0:10:58.760 and Dayton all lost in the quarterfinals at the ACC 0:10:58.960 --> 0:11:02.120 and DC n C State upset second seed to Duke. 0:11:02.160 --> 0:11:04.880 At the Big East at the Garden, Providence upset second 0:11:04.880 --> 0:11:08.280 seed to Creighton. Earlier, Saint John's beat Seaton Hall ninety 0:11:08.360 --> 0:11:11.319 one seventy two. The Red Storm will face heavily favored 0:11:11.360 --> 0:11:13.679 You Gone tonight at Saint John's. First time in the 0:11:13.679 --> 0:11:17.680 Big East. Simmis since two thousand and Philadelphia Sekuon Barkley 0:11:17.720 --> 0:11:20.079 introduced newest member of the Eagles. 0:11:20.559 --> 0:11:22.640 You know, fav a great footage, Giants fans and so 0:11:22.800 --> 0:11:26.480 thank for them. But unfortunately, you know, the NFL is 0:11:26.520 --> 0:11:29.440 a business, and I was able to get to a 0:11:29.480 --> 0:11:31.600 place that I know I can come here, I can 0:11:31.600 --> 0:11:34.200 compete atka Win, I can stay close to home, and 0:11:34.520 --> 0:11:36.000 I'm just happy that I was able to, you know, 0:11:36.080 --> 0:11:37.040 be part of team. 0:11:37.000 --> 0:11:40.080 In while surprising NFL trade, the Chargers sent their six 0:11:40.160 --> 0:11:42.480 time Pro Bowl whiteout Keenan Allen to the bearers for 0:11:42.600 --> 0:11:45.280 a fourth mount pick John Stashedward Bloomberg Sport. 0:11:45.400 --> 0:11:47.680 Let's get more. Now, what's happening in the nation's capital, 0:11:47.720 --> 0:11:50.440 where the momentum for the TikTok bill may be fading, 0:11:50.520 --> 0:11:54.120 Former President Trump's legal pressure isn't easing, and Senate Leader 0:11:54.160 --> 0:11:56.719 Schumer's support for Israel's government appears to have hit its 0:11:56.720 --> 0:11:59.920 breaking point. We're joined down by Derek Wallbank, managing at 0:12:00.559 --> 0:12:03.480 for Bloomberg News. Derek, good to talk with you this morning. 0:12:03.559 --> 0:12:06.000 Of course, the Senate has a reputation for being the 0:12:06.040 --> 0:12:10.120 place where hot legislation goes to cool, and that certainly 0:12:10.160 --> 0:12:12.560 seems to be the case for this TikTok divestment bill. 0:12:13.600 --> 0:12:18.040 Yeah, Nathan, I think that the Senate is under no, 0:12:19.200 --> 0:12:21.440 it's not in a hurry to move on the TikTok bill. 0:12:21.480 --> 0:12:23.480 Let's let's say it that way. Even if there is 0:12:24.440 --> 0:12:28.400 a fair amount of skepticism in the US upper Chamber 0:12:28.520 --> 0:12:33.760 for uh, you know, for TikTok, there's there's certainly you know, 0:12:33.840 --> 0:12:35.719 it's it's a place where there has been a lot 0:12:35.760 --> 0:12:41.360 of skepticism about China's role in the economy. I don't 0:12:41.400 --> 0:12:44.319 see right now. You know, we're certainly seeing signs from 0:12:44.720 --> 0:12:48.440 UH from top lawmakers in the Senate suggesting that this 0:12:48.640 --> 0:12:52.880 isn't going to UH to move wholesale and get some 0:12:53.040 --> 0:12:56.080 quick up or down vote. Now, I should also say this, 0:12:57.000 --> 0:13:00.079 you know you're in Washington. I spent a heck of 0:13:00.120 --> 0:13:02.440 a lot of time in Washington. We all know that 0:13:02.559 --> 0:13:04.440 right now. You know, a lot of the game in 0:13:04.480 --> 0:13:07.280 the Senate is what you use your floor time on. 0:13:07.360 --> 0:13:11.400 And there's other priorities that Senate Democratic Leader Chuck Schumer has, 0:13:12.520 --> 0:13:14.920 And so is this going to be the thing that 0:13:15.000 --> 0:13:17.400 he wants to spend a ton of time on. I 0:13:17.400 --> 0:13:19.360 don't know, because it's not just going to be should 0:13:19.360 --> 0:13:21.760 this get past or not? But do you want to 0:13:21.800 --> 0:13:23.800 take the time on the Senate floor to do this 0:13:23.960 --> 0:13:26.959 versus do other priorities. Last thing I'll note on this 0:13:27.440 --> 0:13:30.199 is that I know that House Speaker Mike Johnson wants 0:13:30.200 --> 0:13:32.320 the Senate to move quickly on this. But keep in 0:13:32.360 --> 0:13:34.560 mind that Mike Johnson has not been willing to move 0:13:34.640 --> 0:13:37.600 fast on the Senate's own priorities. So it's not as 0:13:37.600 --> 0:13:40.559 if he's built up a lot of capital with his 0:13:40.880 --> 0:13:43.680 friends on the other side of the Capitol that he 0:13:43.760 --> 0:13:45.600 can cash in right now to get that moving. 0:13:45.880 --> 0:13:48.720 Yeah, thinking about Ukraine aate in particular. But we just 0:13:48.800 --> 0:13:52.400 heard from a Senate Intelligence Chair, Mark Warner, not exactly 0:13:52.440 --> 0:13:56.400 a non powerful member of the Senate, arguing on Bloomberg's 0:13:56.400 --> 0:13:59.600 balance of power that this bill does need to be expedited. 0:13:59.720 --> 0:14:01.760 I mean, is he shouting in the wind here? 0:14:02.679 --> 0:14:04.440 I don't think he's shouting in the wind. But I 0:14:04.440 --> 0:14:07.839 do think that there's a question of how right, a 0:14:07.920 --> 0:14:12.280 question of what do you do? And a question of okay, 0:14:12.320 --> 0:14:15.199 if you say that something needs to be soldered or 0:14:15.559 --> 0:14:18.640 or shut, is it actually going to be divestible? Is 0:14:18.679 --> 0:14:21.920 it going to be something that or are you or 0:14:21.960 --> 0:14:25.560 are you actually passing something that really means that it's 0:14:25.600 --> 0:14:27.440 going to be shuttered? And what does that mean? I 0:14:27.760 --> 0:14:30.160 think all of those are live ball questions, and I 0:14:30.200 --> 0:14:34.080 think that the Senate is going to wrestle with what 0:14:34.120 --> 0:14:39.360 the real world impacts of this legislation really are before 0:14:39.440 --> 0:14:44.280 moving on something that could have major profound consequences, not 0:14:44.440 --> 0:14:46.920 least of which here Nathan is remember the fact that 0:14:47.000 --> 0:14:52.000 Donald Trump, who is now the presumptive Republican nominee as 0:14:52.040 --> 0:14:54.960 well as the single most powerful person in Republican politics 0:14:55.000 --> 0:14:59.360 by no small margin, has suggested that if you actually 0:14:59.400 --> 0:15:02.320 went through with this, that there might be some consolidation 0:15:03.120 --> 0:15:06.560 in the social media marketplace towards others, including Mark Zuckerberg 0:15:06.560 --> 0:15:08.520 and Facebook. And Donald Trump does not think that that's 0:15:08.560 --> 0:15:11.960 necessarily a good idea. His opinions are going to wait 0:15:12.040 --> 0:15:16.480 incredibly big. Not on Schumer, because you know what, does 0:15:16.560 --> 0:15:19.800 Chuck Schumer care about what Donald Trump thinks, but certainly 0:15:19.840 --> 0:15:21.960 on Republicans in the conference. And if this is going 0:15:22.040 --> 0:15:24.520 to move, you're going to need pretty well unified Republican support. 0:15:24.520 --> 0:15:26.080 So Donald Trump has a lot to say here. 0:15:26.480 --> 0:15:29.840 And speaking of Senator Schumer's priorities in our last minute here, 0:15:29.880 --> 0:15:33.640 I wonder what you made of this major floor speech yesterday, 0:15:33.840 --> 0:15:36.560 really coming out hard against the right wing government of 0:15:36.720 --> 0:15:38.200 Israeli Prime Minister Natanyahu. 0:15:39.040 --> 0:15:43.040 Well, I think it's been something that Democrats have struggled 0:15:43.040 --> 0:15:44.480 with for a long time as how to deal with 0:15:44.520 --> 0:15:48.200 Benjamin Nettnia, who has very clearly allied himself with the 0:15:48.240 --> 0:15:51.880 right flank of American politics for quite a long time. 0:15:52.000 --> 0:15:56.240 And Schumer is a big fan of Israel generally. But 0:15:56.320 --> 0:16:00.880 I think this represents and shows makes plain frustration that 0:16:00.920 --> 0:16:04.600 Democrats have had with the way that Netnya, who has 0:16:04.640 --> 0:16:10.480 prosecuted affairs in Gaza. I think that there has been 0:16:10.520 --> 0:16:16.080 a well documented frey on the left in in terms 0:16:16.120 --> 0:16:20.520 of the support from Israel, from some of the from 0:16:20.560 --> 0:16:23.960 some of the top people, including from President Joe Biden. 0:16:24.440 --> 0:16:27.760 You saw a big push towards getting people to vote 0:16:27.840 --> 0:16:31.320 uncommitted in Michigan and other states like that, right, and 0:16:31.360 --> 0:16:34.200 I think Chuck Schumer is reflecting some frustration. 0:16:37.080 --> 0:16:40.000 This is Bloomberg day Break Today, your morning brief on 0:16:40.080 --> 0:16:43.600 the stories making news from Wall Street to Washington and beyond. 0:16:43.920 --> 0:16:46.280 Look for us on your podcast feed by six am 0:16:46.320 --> 0:16:50.080 Eastern each morning, on Apple's Spotify and anywhere else you 0:16:50.120 --> 0:16:51.320 get your podcasts. 0:16:51.720 --> 0:16:54.440 You can also listen live each morning starting at five 0:16:54.480 --> 0:16:57.080 am Wall Street Time on Bloomberg eleven three to zero 0:16:57.120 --> 0:17:00.000 in New York, Bloomberg ninety nine to one in Washington, 0:17:00.080 --> 0:17:03.160 Bloomberg one oh sixty one in Boston, and Bloomberg nine 0:17:03.320 --> 0:17:04.719 sixty in San Francisco. 0:17:05.040 --> 0:17:07.679 Our flagship New York station is also available on your 0:17:07.720 --> 0:17:11.880 Amazon Alexa devices. Just say Alexa play Bloomberg eleven. 0:17:11.640 --> 0:17:15.200 Thirty plus listen coast to coast on the Bloomberg Business App, 0:17:15.280 --> 0:17:19.439 Sirius xmb iHeartRadio app, and on Bloomberg dot Com. I'm 0:17:19.520 --> 0:17:20.600 Nathan Hager and. 0:17:20.560 --> 0:17:22.920 I'm John Tucker. Join us again tomorrow morning for all 0:17:22.960 --> 0:17:25.000 the news you need to start your day right here 0:17:25.200 --> 0:17:26.280 on Bloomberg day Break