Israel Poised to Storm Gaza City; Trump's Surprise Fed Pick

Bloomberg Audio Studios, Podcasts, Radio News.
Good morning, I'm Nathan Hager and I'm Karen Moscow. Here
are the stories we're following today.
Karen, we begin this morning with new developments in the
Middle East. Israeli Prime Minister Benjamin Natanyahu has secured security
Cabinet approval for a military takeover of Gaza City, and
then Yahoo describes it as part of a final push
to topple Hamas after twenty two months of fighting and
to recover the militant group's final remaining fifty hostages. We
get more from Bloomberg Israel Bureau chief Ethan Bronner in
Tel Aviv.
The Prime Minister has said repeatedly for many months that
Israel must take over every square inch of Gaza in
order to clear it of Hamas' infrastructure and fighters and
governing authority so that Hamas and Gaza will never be
a threat again to Israel. So it's a very aggressive
act and we'll have to see where it goes. That
there are almost a million people living in Gaza City,
Israelis are going to forcibly evacuate them, to displace them
to go south, and at the same time with the
US they're talking about stepping up in a big way
the amount of food and aid that goes in in
order to take care of those people, at least in
some minimal fashion.
Bloomberg Zethan Bronner says, most polls show as Raeli's prefer
to see the war called off with hamas intact, if
that's the cost of recovering the hostages.
Now, Nathan the latest on the war in Ukraine. President
Trump had given Russia until today to reach a true
surface economic penalties. Now the President says he's willing to
meet with Russian President Vladimir Putin, with or without Ukrainian
President Vladimir Zelenski.
It's going to be up to him.
We're going to see what he has to say.
It's going to be up to him.
Very disappointing President Trump's Oval Office comments. So if a roade,
a White House official who'd said earlier that Putin would
need to agree to meet with Zelenski first. We get
more from Bloomberg's Tony Halpin.
So in many ways, this is Russia's ideal scenario. They've
long argued that the war in Ukraine isn't really against Ukraine,
that it's against the US and NATO, and that it's
being fought in Ukraine. And clearly, if they can demonstrate,
both to their people at home and in arguments abroad,
that they're sitting down with Trump to decide the war
in Ukraine, that only strengthens their argument.
That strengthens their hand.
In claiming that they're really dealing with the West rather
than having to confront the fact that they invaded Ukraine.
And as Bloomberg's Tony help in the Kremlin says, the
US and Russia have agreed on a venue and hope
to hold the talks next week.
Well, another major story we're following Karen involves the future
of the Federal Reserve. President Trump has nominated Council of
Economic Advisors chairman Stephen Myron to serve as a FED governor.
Bloomberg Zamy Morris reports from Washington. President Trump says Myron,
who will need to be confirmed by the Senate, would
only serve the remaining term of FED Governor Adriana Kugler,
which expires in January. Myron has been critical of the
Fed's track record and says tariffs are not like likely
to cause inflation pressure.
We've now got several months of data, and again there's
just zero macroeconomically significant evidence of price pressures from tariffs.
Stephen Myron, in a conversation just hours before the President's
announcement on Thursday with Balance of Power host Joe Matthew,
that view puts him somewhat at odds with Powell. The
FED chair has said that while the base case is
that tariff's effects on inflation could be short lived, FED
policymakers must guard against the alternative. In Washington, Amy Morris
Bloomberg Radio.
Amy, thank you well. Gold is trading near a record
high this morning. Right now co makes gold is it
thirty four eighty seven an ounce. This spike comes after
The Financial Times reported that bullion bars face US tariffs.
Begin more from Bloomberg Senior editor Bill Ferries.
It's one of these things that no one had on
their Bengo card. I think FT reporting that gold bars
at one kilogram, which are the most commonly traded form
on the gold futures market, that those will also be
subject to TARA and that was something I think traders
markets had really bet would not happen. That hits Switzerland hard.
It's another blow for them. They a lot of gold
comes in and out of Switzerland.
And Bloomberg's Bill Ferry says the levy will add to
troubles for Swiss President current Keller Sutter after President Trump
handed Switzerland the highest country tariff among developed nations.
Turning into some corporate news now, Karen Intel CEO Lipputan
says he has the full backing of his company's board.
That's after President Trump called for his resignation citing conflicts.
In a letter to staff posted on the Intel website,
Ton says he's reached out to the White House to
clear up what he calls quote misinformation about his track record.
Earlier this week, Republican Senator Tom Cotton asked the chairman
of Intel's board to answer questions about Ton's ties to China,
including investments in the country's semiconductor companies and others with
connections to its military.
Nathan, Japan's top trade negotiators, says the US has confirmed
it would end the stacking of universal riffs on Japan
and cut car levies as promised. His comments followed talks
in Washington on the details of last month's trade deal.
No official comment yet on the latest meetings from the
US side.
Let's get to the latest, Karen on the fight over
redistricting in the state of Texas. The latest is it's spreading.
Republican lawmakers in Florida talking now about redrawing their states
congressional map. Florida currently has twenty eight congressional districts, twenty
of them are held by Republicans. Meanwhile, Texas Senator John
Cornan says he's got the FBI involved in tracking down
the Democrats who left his state to block a vote
on their state's new map. House Minardi leader Hakim Jeffrey
says it's a ridiculous move.
The FBI should be spending its time chasing down violet criminals,
errorist drug traffickers, and child predators, not targeting political adversaries
in a democracy.
Here in America.
House Benardi leader Hakim Jeffreys is calling the Republican redistricting
effort in Texas a clear power grab.
Time now for look at some of the their stories
making news in New York and around the world, and
for that we're joined by Bloomberg's John Tucker.
John Good morning, Good morning, Karen. Extreme heat twills seared
down across the US Southwest, testing temperature records and putting
about seven and a half million people under a sweltering
high pressure dome. Bloomberg Mediornaldgist Craig allenenon.
This is quite a heat dome, and while parked in
the southwestern portion of the United States over the last
several days, it is going to be migrating towards the east.
A high pressure system is centered over the region, blocking cloudier,
rainier conditions and letting the temperatures build. The FBI facing
the most significant leadership shake up since Cash Bettel took
over as director. The Trump administration is forcing out more
senior officials, including a former acting director who resisted Trump
administration demands to turn over the names of the agents
who took part of the January six Capitol riot investigations.
Two Pennsylvania State troopers in stable condition and a woman
died after being shot in what officials say was a
calculated ambush. State Police Commissioner Christopher Paris.
Trooper Paroshinski was shot twice in the chest slash. Torso
Area Trooper Jenkins was shot twice as well, once in
each arm.
The ambush apparently started off as a dispute between two neighbors.
Pilli say the gunman was shot and killed. The New
York Mets will be honoring the sixtieth anniversary of the
Beatles performance at Chase Stadium more this morning from Bloomberg's
Charlie Pellet.
It happens August fifteenth. It's been a a nineteen sixty
five performance was a milestone because the Beatles became the
first rock band to perform a major stadium concert. The
first pitch will be thrown by members of the game
day staff who were working the famous consort. But after
the game, fans can stay put for a special theme.
Fireworks show in New York. Charlie Pellot's Bloomberg Radio who.
Global News twenty four hours a day, whenever you want it.
What Bloomberg knows now on John Tucker, This is Bloomberg.
Was like just yesterday, Karen.
Oh, don't tell me you were at that too, John,
I'm not taking that all right, John, thank you. It's
time now for the Bloomberg Sports Update. Here's John stash Hour.
John, Good morning, Morning Cares. Speaking of the Mets, they
lost eight of their last nine games. They played tonight
in Milwaukee, and the Brewers since July fifth are twenty
one and four they've won seventy games. Most of the
majors just had a six to zero road trip, although
Mets had a one in five homestand Yankees had a
one in five trip. They're back in the stadium to
play Houston seam that has had three recent ALCS wins
over the Yanks. Red Solas winners of seven and last eight.
I'm in San Diego. They'll face ex redslaff. Nick Pivetta,
who's eleven and three with the Padres in Toronto, said
that series sweep at Colorado by a combined score of
forty five to six. Blue Jays Tonight at the Dodgers
Battle of first place teams, that it's Max Scherzer against
Clayton Kershaw. Schurzer's got two hundred and eighteen career wins
in Kershaw two hundred and seventeen together in nearly sixty
five hundred strikeouts. The Jets preseason opener tomorrow night at
Green Bay. Jets have a new coach and a new quarterback,
and here's Aaron glenn on making sure Justin Fields remains company.
Listen, when you have that position at the quarterback, you
can't hide from dad. That's just part of when I
get it.
I do.
But that's the emotional maturity that we talk about. How man,
you can't let anything outside bother you. Man, just only
focus on the gas that's in house and only focus
on getting better every day because you can always hear
it and he understands the noises going. It's just part
of the business, so part of being.
A quarterback fields.
He said.
They've had some tough moments in training camp. Giants play
tomorrow afternoon in Buffalo. The Commanders and Patriots play tonight
in Foxborough. Ashley buck Tia with an opening around sixty two,
leads to Saint Joe Jude Golf in Memphis by one
over Tommy Fleetlot's got a Jefferdriels by five. Van Shelton
won the tennis final in Toronto on a third set tiebreaker,
the first American to win the event since Andy Ronnick
in two thousand and three. The women's winner was eighteen
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She had an upset of Coco Goffin in the final.
She beatn Naomi Osaka, John Stashawa, Bloomberg'sports Karen nycan.
Coast to Coast on Bloomberg Radio nationwide on Sirius Exam
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Bloomberg Business app. This is Bloomberg Daybreak.
Good morning.
I'm Nathan Hager. Israel's Security Cabinet has approved a plan
for a military takeover of Gaza City, Prime Minister Benjamin Natanya,
who describes it as a final push to the fIF
Ramas after nearly three years of fighting. The ultimate goal,
he says, is full control of the Gaza strip.
We intend to in order to assure our security, remove
Ramas there, enable the population to be free of Gaza
and to pass it to civilian governance. That is not
Camas and not anyone advocating the destruction.
To visual That was Israeli Prime Minister Benjamin Natanya, who
speaking to Fox News ahead of the Security Cabinet vote
and joining us this morning is Bloomberg News Israel Bureau
Chief Ethan Bronner. Ethan, good morning. Could this represent a
final phase in the war. What could the Israeli military
encounter if it does indeed push into Gaza City on
the ground?
Good morning, Good morning, Nathan.
Look, I mean it's going to encounter obviously, the kind
of guerrilla warfare that you know we've seen in Vietnam
and in Afghanistan and in Iraq. So yes, it's going
to certainly be bloody. What's going to happen now, in
theory is over the course of the coming weeks, Israel
is going to forcibly displace the many hundreds of thousands
of people who live in and around Gaza City to
the south. In theory, they're going to also step up
the provision of humanitarian aid to where they're to where
those folks are headed. And then several, perhaps six divisions
of Israeli soldiers are going to start moving into Gaza
City and to try to dismantle whatever remaining infrastructure and Hamas'
command structure exists. That is the plan.
Are the Israeli people behind this? There have been some
reticence in the past about going into Gaza City because
there was a thought that Hamas could be holding many
of the remaining hostages there.
Yes, you're right, I would say that public opinion at
the moment is essentially negative to skeptical. It's not totally
opposed because it does like the idea of trying to
eliminate Hamas, but it's very worried about the remaining hostages,
very worried about the soldiers going in. So I would
say that it is an uphill battle in public opinion
at the moment for this Prime Minister, in this government.
It has kind of felt that generally the world, the
US and even public opinion has been against a lot
of its bolder moves in Iran, in Lebanon, and they
feel that they have come out ahead in those endeavors
and that they will do so here as well.
And of course this is coming at a time that
you've written about extensively that Israel is pressing on with
this war despite the international outcry over the humanitarian crisis
in Gaza. A lot of Israelis have been starting to
speak out about that more as well. How could a
push into Gaza City exacerbate potentially what's happening in the
rest of Gaza right.
Now, Well, exactly, I mean, you're going to have hundreds
of thousands of people moving into a very small area
where there has not been enough medicine and food and
what people need to live decent life. And now you're
going to have more people. They say, with the help
of the United States, they're going to at least triple,
perhaps quadruple the amount of aid, the number of feeding stations,
and so on. But it has gone not well over
these last couple of months, and it seems likely to
continue to be a huge struggle. I mean, part of
it is just this incredibly difficult situation for everybody on
the ground has been there for nearly two years of this,
and the feeding stations aren't enough. And then there's of
course the internal attempt by Hamas and those who oppose
Israel and the United States to disrupt this whole procedure.
So I think we can expect a lot of pain
coming up for sure.
In our last minute Ethan, as we potentially prepare for
this invasion into Gaza's city. What about the thinking around
what comes after Hamas. We heard Nantayaho's saying there could
be some kind of civilian administration, But is that feasible.
Look, it's not my job to decide whether it's feasible
or not, but it is unquestionably difficult. That has been
this government's view that once Hamas has actually removed from Gaza,
then people there will no longer be afraid, it will
be willing to step forward as technocrats and as business
people to create a more decent situation. A lot of
people who think they know Gaza say that that is
very unlikely. And the other question is whether if this
government is not willing to let the palestine An authority
in and it says it's not so, who's left. So look,
I agree with you, it's very unclear whether it will work.
They think they have the people to make it work.
We will be watching.
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