Democrats Shift Focus from Biden to Trump; Day 2 of Powell Testimony

Bloomberg Audio Studios, Podcasts, Radio News. Good morning, I'm Amy 0:00:10.880 --> 0:00:13.760 Morris and I'm Karen Moscow. Here are the stories we're 0:00:13.800 --> 0:00:14.600 following today. 0:00:14.880 --> 0:00:17.360 Karen, we begin with the latest in the race for 0:00:17.400 --> 0:00:20.120 the White House. Democrats on Capitol Hill are starting to 0:00:20.120 --> 0:00:23.720 close ranks in support of President Biden, trying to shift 0:00:23.760 --> 0:00:27.680 the focus away from his mental acuity to Donald Trump's 0:00:27.720 --> 0:00:30.920 policy goals. We get those details from Bloomberg's Ed Baxter. 0:00:31.400 --> 0:00:33.560 A two hour closed door meeting of the caucus, with 0:00:33.640 --> 0:00:36.680 congressmen emerging saying in vast majority they have reached a 0:00:36.720 --> 0:00:40.000 turning point and need to line up behind Biden. Harris. 0:00:40.400 --> 0:00:43.120 Congressman Jerry Nadler, who over the weekend said Biden should 0:00:43.120 --> 0:00:44.640 step aside, is done on one to eighty. 0:00:44.760 --> 0:00:46.080 I'm fully supportive of him. 0:00:46.120 --> 0:00:49.240 I planned to campaign for him, and it's essentially anyway. 0:00:49.320 --> 0:00:51.839 And even if they were less enthusiastic, they say the 0:00:51.920 --> 0:00:55.240 job is to make sure Donald Trump doesn't win. Congressman 0:00:55.280 --> 0:00:56.360 Pete Aguilar. 0:00:56.160 --> 0:00:59.720 Every single member of the House Democratic Caucus is clear 0:00:59.760 --> 0:01:04.080 eye about what the stakes of this election are. Donald 0:01:04.080 --> 0:01:06.600 Trump cannot be allowed near the Oval office. 0:01:06.680 --> 0:01:11.120 Biden does have a news conference tomorrow. Ed Baxter Bloomberg Radio. 0:01:11.080 --> 0:01:13.080 All right, ed, thanks, so we might have a better 0:01:13.319 --> 0:01:16.160 idea now of who might be Donald Trump's running mate. 0:01:16.240 --> 0:01:19.200 During a campaign stop in Miami, Trump teased but did 0:01:19.240 --> 0:01:23.560 not officially announce that Florida Senator Marco Rubio could be 0:01:23.640 --> 0:01:26.959 Trump's choice as candidate for vice president, referring to the 0:01:27.080 --> 0:01:31.000 number of reporters and news outlets covering the rally, I think. 0:01:30.880 --> 0:01:33.399 They probably think I'm going to be announcing that Marco 0:01:33.480 --> 0:01:36.240 is going to be vice president at because that's a 0:01:36.280 --> 0:01:36.959 lot of press. 0:01:37.640 --> 0:01:40.200 But Trump did not announce his pick, instead saying that 0:01:40.240 --> 0:01:43.360 he was officially challenging President Biden to another debate, this 0:01:43.400 --> 0:01:44.720 time without moderators. 0:01:45.160 --> 0:01:48.720 Meanwhile, in Washington, NATO allies are offering Ukraine more help 0:01:48.800 --> 0:01:52.520 to bolster its air defenses. The US, Germany, and Romania 0:01:52.600 --> 0:01:55.840 will each send Ukraine a Patriot missile system, while a 0:01:55.920 --> 0:01:59.040 fourth will be assembled using parts from the Netherlands and others. 0:01:59.360 --> 0:02:02.880 Italy will send a ground based air defense system. President 0:02:02.920 --> 0:02:06.639 Biden promised to prioritize Ukrainian aid nine of states. 0:02:06.680 --> 0:02:10.760 We'll make sure that when we export critical air defense interceptors, 0:02:11.160 --> 0:02:16.560 Ukraine goes to the front of the line. So we'll 0:02:16.600 --> 0:02:20.200 get this assistance before anyone else gets it. All told, 0:02:21.000 --> 0:02:24.919 Ukraine will receive hundreds of additionals over the next year. 0:02:25.560 --> 0:02:28.519 Help me protect Ukrainian cities against Russian missiles. 0:02:29.240 --> 0:02:32.520 President Biden, speaking there at an event marking NATO's seventy 0:02:32.560 --> 0:02:36.600 fifth anniversary. Despite the commitment, the group's leaders resisted offering 0:02:36.639 --> 0:02:39.040 the country a path to membership well. 0:02:39.080 --> 0:02:41.040 Turning to the markets now, amy the S and P 0:02:41.200 --> 0:02:45.040 five hundred begins the day, once again in record territory, 0:02:45.080 --> 0:02:47.600 and a head of day two of congressional testimony by J. 0:02:47.880 --> 0:02:51.720 Powell yesterday, the Fed shear said officials are increasingly wary 0:02:51.800 --> 0:02:54.600 of potential risk to the labor market from high borrowing 0:02:54.639 --> 0:02:58.560 costs as they seek more evidence inflation is slowing down. 0:02:59.000 --> 0:03:03.359 Elevated inflation is not the only risk we face. Reducing 0:03:03.400 --> 0:03:06.720 policy restraint too late or too little could unduly weaken 0:03:06.760 --> 0:03:10.720 economic activity and employment. In considering adjustments to the target 0:03:10.800 --> 0:03:13.000 range for the Federal funds rate, the Committee will continue 0:03:13.040 --> 0:03:16.519 its practice of carefully assessing incoming data and their implications 0:03:16.760 --> 0:03:19.680 for the evolving outlook, the balance of risks, and the 0:03:19.720 --> 0:03:21.520 appropriate path of monetary policy. 0:03:21.880 --> 0:03:22.120 And J. 0:03:22.280 --> 0:03:26.120 Powell concludes his semi annual monetary policy testimony before the 0:03:26.200 --> 0:03:28.760 House Financial Services Committee this morning. 0:03:29.320 --> 0:03:32.880 And in Asia, China's consumer prices hovered near zero for 0:03:32.960 --> 0:03:36.600 a fifth month. In June, Bloomberg Daybreak Asia anchor Brian 0:03:36.680 --> 0:03:38.520 Curtis has more from Hong Kong. 0:03:38.560 --> 0:03:42.400 Yet another sign that deflation is stalking the Chinese economy. 0:03:42.560 --> 0:03:45.880 The CPI rowse zero point two percent from a year earlier, 0:03:45.960 --> 0:03:48.880 weaker than the estimate of zero point four percent. In 0:03:48.920 --> 0:03:52.800 the meantime, factory gate prices declined to zero point eight percent, 0:03:53.160 --> 0:03:56.240 in line with estimates. The PPI has been in deflation 0:03:56.360 --> 0:04:00.320 since late twenty twenty two. China's economy is uneven, some 0:04:00.480 --> 0:04:05.120 strength and manufacturing, some weakness in consumption. Investors are hoping 0:04:05.120 --> 0:04:07.840 for a fix from the Third Plenum next week. In 0:04:07.920 --> 0:04:09.960 on Brian Curtis Sloomberg. 0:04:09.560 --> 0:04:11.880 Radio, All right, Brian, thanks so well. A new poll 0:04:12.040 --> 0:04:16.120 says the US has a largely more favorable image than China. 0:04:16.120 --> 0:04:19.560 A few research surveyed thirty five high and middle income countries. 0:04:19.880 --> 0:04:22.960 More than twice as many people saw the US positively 0:04:23.120 --> 0:04:26.640 than they viewed China across eighteen high income countries, with 0:04:26.720 --> 0:04:29.200 a gap most stark in poll in Japan, the US 0:04:29.279 --> 0:04:32.960 and South Korea at contrasted views and the seventeen middle 0:04:32.960 --> 0:04:35.799 income countries polled, which favor both countries. 0:04:35.839 --> 0:04:39.880 Similarly, in Company news, Microsoft and Apple have given up 0:04:39.880 --> 0:04:43.599 its observer seat on open AI's board. The move comes 0:04:43.640 --> 0:04:47.279 as global antitrust regulators step up scrutiny of big tech's 0:04:47.279 --> 0:04:52.120 influence on artificial intelligence data. Bass covers Microsoft for Bloomberg, 0:04:52.400 --> 0:04:53.960 this position of. 0:04:53.960 --> 0:04:56.640 Having someone not a board member but still a board 0:04:56.640 --> 0:04:59.200 of server was becoming a bit of a flashpoint. A 0:04:59.240 --> 0:05:02.040 regulators for should interested in it and wondering what that 0:05:02.160 --> 0:05:05.400 meant and whether that played into the concerns about Microsoft's 0:05:05.400 --> 0:05:08.320 control as it relates to open ay. So this removes 0:05:08.400 --> 0:05:12.360 that issue from the table, and I'm sure Microsoft will 0:05:12.360 --> 0:05:15.280 be hoping that that makes some of the regulatory scrutiny 0:05:15.279 --> 0:05:15.719 go away. 0:05:15.960 --> 0:05:19.799 Bloomberg Steena Bess says Microsoft, which has invested thirteen billion 0:05:19.880 --> 0:05:22.880 dollars in the creator of Chad GPT, send a letter 0:05:22.920 --> 0:05:25.440 to the startup announcing its withdrawal from the board. 0:05:25.839 --> 0:05:29.840 Well, I mean, four unions representing fourteen thousand workers at 0:05:29.839 --> 0:05:33.240 Walt Disney's resort in Anaheim, California, will hold a strike 0:05:33.279 --> 0:05:36.520 authorization vote on July nineteenth. Then we get more from 0:05:36.560 --> 0:05:37.920 Bloomberg's Charlie Pellett. 0:05:38.160 --> 0:05:41.520 The results will be announced the next day. The employees 0:05:41.560 --> 0:05:45.320 include food service workers and other staffers of the company's 0:05:45.360 --> 0:05:48.719 theme parks, stores and hotels. They have been negotiating a 0:05:48.720 --> 0:05:52.080 new contract since April. They're seeking higher pay and changes 0:05:52.120 --> 0:05:55.159 to their work rules. Even if the employees do give 0:05:55.200 --> 0:05:58.760 their approval, union leadership would need to call a strike. 0:05:59.200 --> 0:06:02.159 Just authorizing a work stoppage can be a tactic that 0:06:02.279 --> 0:06:05.440 helps spur management to make bigger concessions at the bargaining 0:06:05.480 --> 0:06:09.440 table in New York. Charlie Pellett, Bloomberg Radio. 0:06:09.440 --> 0:06:13.040 Thank you, Charlie. Court victory for Elon Musk, the billionaire, 0:06:13.120 --> 0:06:15.960 defeated one of the lawsuits filed over the firing of 0:06:16.000 --> 0:06:19.640 thousands employees after his takeover of Twitter in twenty twenty two. 0:06:20.120 --> 0:06:23.000 The suit alleged Musk owed at least five hundred million 0:06:23.080 --> 0:06:25.880 dollars in severance pay to about six thousand laid off 0:06:25.880 --> 0:06:30.120 employees under provisions of the Federal Employee Retirement Income Security Act. 0:06:30.440 --> 0:06:33.599 The plaintiffs said workers got severance equal to only one 0:06:33.600 --> 0:06:36.719 month's pay. A district judge in San Francisco ruled the 0:06:36.800 --> 0:06:40.440 employee's claims weren't covered because the company told employees after 0:06:40.520 --> 0:06:43.240 Musk's takeover that any who were let go would only 0:06:43.279 --> 0:06:47.560 get cash payouts. 0:06:48.120 --> 0:06:49.400 And it's time now for a look at some of 0:06:49.440 --> 0:06:51.559 the other stories making news in New York and around 0:06:51.640 --> 0:06:54.520 the world. And for that we're joined by Bloomberg's Michael Barr. 0:06:54.600 --> 0:06:56.520 Michael, good morning, Good morning Karen. 0:06:56.600 --> 0:06:59.719 The return of sarring heat in Houston is deepening the 0:06:59.760 --> 0:07:03.919 misery for people still without power after Hurricane Barrel crashed 0:07:03.960 --> 0:07:07.400 into Texas. Many residents have no place to cool off 0:07:07.480 --> 0:07:11.000 and fuel up as the extended outages strain one of 0:07:11.040 --> 0:07:14.960 the nation's largest cities. Officials say restoring power is the 0:07:15.040 --> 0:07:19.160 number one priority. Texas Acting Governor Dan Patrick says the 0:07:19.280 --> 0:07:23.360 utility Cedar Point Energy is bringing in an additional eleven 0:07:23.800 --> 0:07:25.040 five hundred workers to. 0:07:25.000 --> 0:07:30.000 Help workers linemen tree trimmers to add to their force 0:07:30.040 --> 0:07:32.160 of sixteen hundred and seventy five that they have on 0:07:32.200 --> 0:07:35.040 the ground, and so we expect to see about a 0:07:35.120 --> 0:07:40.040 million customers get power by tomorrow. 0:07:40.720 --> 0:07:45.640 Acting Governor Dan Patrick. Opening statements in Alec Baldwin's manslaughter 0:07:45.760 --> 0:07:48.880 trial are set for today. The trial over the death 0:07:48.920 --> 0:07:53.680 of cinematographer Helena Hutchins on the Rust film set. A 0:07:53.840 --> 0:07:57.280 court in Santa Fe, New Mexico, selected eleven women and 0:07:57.400 --> 0:08:00.520 five men for the jury yesterday. They were asked about 0:08:00.520 --> 0:08:03.600 their thoughts on Baldwin's work as an actor, their opinions 0:08:03.640 --> 0:08:07.720 on gun ownership, and more. Jurors are instructed not to 0:08:07.760 --> 0:08:10.680 watch any news about the case or talk about it 0:08:10.680 --> 0:08:14.200 with friends or family. The Civil Rights Act was the 0:08:14.240 --> 0:08:18.600 defining moment of President Lyndon Johnson's administration in nineteen sixty four. 0:08:19.120 --> 0:08:23.840 Six decades later, Attorney General Merrick Garland recognized the federal 0:08:23.920 --> 0:08:27.800 law has not been a cure all for the country's problems. 0:08:28.320 --> 0:08:30.880 The sixtieth anniversary of the Civil Rights Act in nineteen 0:08:30.920 --> 0:08:35.040 sixty four presents an important moment to reflect on why 0:08:35.040 --> 0:08:38.800 we needed this law in nineteen sixty four and why 0:08:38.880 --> 0:08:40.400 we still need it today. 0:08:41.040 --> 0:08:44.520 Garland was emotional at times during this address yesterday about 0:08:44.520 --> 0:08:46.959 his choice to leave the bench and return to the 0:08:47.040 --> 0:08:50.760 DOJ and when he recited the names of George Floyd, 0:08:50.840 --> 0:08:55.199 Breonna Taylor, and Amand Aubrey. The Department of Justice says 0:08:55.280 --> 0:08:59.800 they've disrupted a new Russian disinformation campaign the DOJ is 0:09:00.040 --> 0:09:04.800 he's nearly one thousand social media accounts and two Internet domains. 0:09:05.240 --> 0:09:09.360 Official say those accounts for Max formerly Twitter used artificial 0:09:09.400 --> 0:09:14.359 intelligence to create disinformation aimed at furthering pro Russian narratives. 0:09:14.679 --> 0:09:17.440 Global news twenty four hours a day and whenever you 0:09:17.520 --> 0:09:19.040 want it with the Bloomberg News. 0:09:19.040 --> 0:09:19.240 Now. 0:09:19.360 --> 0:09:20.920 I'm Michael Barr, and this. 0:09:20.800 --> 0:09:22.079 Is Bloomberg Heron Ray. 0:09:22.080 --> 0:09:29.120 Michael Barr, thank you. It's time now for the Bloomberg 0:09:29.240 --> 0:09:31.280 Sports Update with John Stanshauer. 0:09:31.360 --> 0:09:33.880 John, good morning, Arey morning. Care of the Yankees at 0:09:33.920 --> 0:09:34.560 Tampa Bay. 0:09:34.600 --> 0:09:37.160 Carlos Redan, I'm the mound out to end of personal 0:09:37.280 --> 0:09:38.439 four game losing streak. 0:09:38.520 --> 0:09:39.840 First four batter. 0:09:39.679 --> 0:09:43.439 Single, double, single, three run homer by Isaac Paradis. The 0:09:43.559 --> 0:09:46.040 raise led four nothing before Renan had gotten it out. 0:09:46.040 --> 0:09:48.000 He did settle down Ben Race at two on home 0:09:48.080 --> 0:09:50.520 for the Yankees, but the raise one five to three. 0:09:50.720 --> 0:09:53.520 Nan was nine and two. He's now nine and seven. 0:09:53.600 --> 0:09:56.679 He's not the only picture to struggle during this tailspin 0:09:56.760 --> 0:09:59.160 that has seen the Yanks lose sixteen out of twenty one. 0:09:59.480 --> 0:10:01.599 Yankee Jim managers Brian Cashman. 0:10:01.800 --> 0:10:04.319 You can have that avalanche of positive stuff happen, and 0:10:04.960 --> 0:10:08.400 and it kind of wears on everybody in a positive way. 0:10:08.440 --> 0:10:12.440 But then you know, one one little thing can add 0:10:12.520 --> 0:10:14.120 up to a whole bunch of stuff, and next you 0:10:14.120 --> 0:10:16.080 know you're on the other side of it, where you know, 0:10:16.120 --> 0:10:18.080 an avalanche negative stuff starts to happen. 0:10:18.200 --> 0:10:20.280 The Orioles lost to the Cubs nine to two, so 0:10:20.280 --> 0:10:22.360 the Anks are still three games behind Baltimore, but they're 0:10:22.360 --> 0:10:24.079 not only three and a half ahead of the red 0:10:24.120 --> 0:10:26.600 hot Red Sox, who've won seven of eight to twelve 0:10:26.640 --> 0:10:29.240 to nine win over Oakland Mets back to five hundred 0:10:29.240 --> 0:10:33.000 and city field, great outing from Jose Quintana, seven scoreless sittings, 0:10:33.040 --> 0:10:33.880 allowed only one hit. 0:10:34.080 --> 0:10:35.720 Washington did get to the Mets. 0:10:35.480 --> 0:10:37.920 Bullpen home runs in the eighth and ninth innings, with 0:10:37.960 --> 0:10:40.319 the Mets held on beat the Nationals seven to five. 0:10:40.800 --> 0:10:43.800 Marquee National League Series underway in Philly, the Fills all 0:10:43.840 --> 0:10:46.400 over the Dodgers in the Battle of Division leaders ten 0:10:46.440 --> 0:10:49.040 to one. Trey Turner hit a Grand Slam. Janick Center 0:10:49.080 --> 0:10:52.200 and Carlos Alcarez have one Grand slams this year. They 0:10:52.200 --> 0:10:55.080 were expected to meet in the Wimbledon semifinals, but Center 0:10:55.400 --> 0:10:58.559 in the quarters lost in five sets to Neil Medvedev 0:10:58.600 --> 0:11:02.240 Alcarez one in four sets over American Tommy Paul. Last 0:11:02.280 --> 0:11:04.320 America on the women's side was Emma Navarro. She got 0:11:04.320 --> 0:11:07.560 trounced sixty two sixty one by Jasmine Paolini. She's the 0:11:07.559 --> 0:11:11.040 first evit from Italy to reach the Wimbledon women's semifinals. 0:11:11.080 --> 0:11:14.400 Will now take on Donna Beckett from Croatia. Quarterfinals wrap 0:11:14.480 --> 0:11:16.960 up today, matches for both Novak Djokovic and Taylor Fitz. 0:11:17.160 --> 0:11:19.199 Detroit Pistons just out of scenes when they want only 0:11:19.240 --> 0:11:21.240 fourteen games, when they do have a budding star and 0:11:21.480 --> 0:11:23.880 twenty two year old Kaid Cunningham, they've locked him up 0:11:23.920 --> 0:11:26.080 five years, two hundred and twenty four million. 0:11:26.320 --> 0:11:28.480 John Stashedward, Bloomberg Sports Karen. 0:11:28.440 --> 0:11:35.080 Ny Coast to coast on Bloomberg Radio, nationwide on Sirius XM, 0:11:35.160 --> 0:11:38.040 and around the world on Bloomberg dot Com and the 0:11:38.080 --> 0:11:39.320 Bloomberg Business app. 0:11:39.559 --> 0:11:43.120 This is Bloomberg Daybreak. Good morning. 0:11:43.160 --> 0:11:46.400 I'm Amy Morris, and world leaders are gathered in Washington, 0:11:46.480 --> 0:11:49.480 d C. For the NATO Summit, as Democrats are closing 0:11:49.559 --> 0:11:52.760 ranks around President Biden for the most part. We're joined 0:11:52.760 --> 0:11:55.800 now by Bloomberg Managing editor Derek Wallbank to break it 0:11:55.800 --> 0:11:58.520 all down for us. Derek, let's start with President Biden. 0:11:58.559 --> 0:12:02.120 More Democrats coming out to bored him, staying on the ticket. 0:12:02.520 --> 0:12:05.760 There's still some questions though, and more pushback within the party. 0:12:05.920 --> 0:12:07.720 What are you hearing now from Capitol Hill? 0:12:08.840 --> 0:12:12.679 Well, Amy, you haven't heard a ton of Democratic leaders, 0:12:12.679 --> 0:12:15.160 certainly some, but not a ton who have come out 0:12:15.440 --> 0:12:18.800 and said that Biden needs to go. You do hear 0:12:18.880 --> 0:12:22.480 people saying increasingly, you know, we're worried about Biden. We're 0:12:22.600 --> 0:12:25.920 not sure that he's done enough to convince us that 0:12:25.960 --> 0:12:29.520 he can go out and win this thing. Michael Bennett, 0:12:29.760 --> 0:12:33.439 the Democratic Senator from Colorado said last night, and I'm 0:12:33.440 --> 0:12:35.760 going to quote here in a CNN interview a quote 0:12:35.960 --> 0:12:38.160 Donald Trump is on track, I think, to win this 0:12:38.240 --> 0:12:41.080 election and maybe win it by a landslide and take 0:12:41.160 --> 0:12:45.120 with him and the House. You do hear that sort 0:12:45.160 --> 0:12:48.040 of thing being said again and again. I'm really interested 0:12:48.040 --> 0:12:50.320 to hear what Nancy Pelosi has to say. She's going 0:12:50.400 --> 0:12:55.040 to be on a morning television show, and so let's 0:12:55.040 --> 0:12:57.400 see what she has to say. So far, she has 0:12:57.520 --> 0:12:59.600 kept her powder a little bit dry, but been generally 0:12:59.640 --> 0:13:02.920 supported the president, people like her, people like Jim Clyburn, 0:13:04.000 --> 0:13:06.240 Chuck Schumer, Hakim Jeffreys. Those are the ones I think 0:13:06.240 --> 0:13:08.280 that Biden is in with a chance of listening to. 0:13:08.480 --> 0:13:11.280 If they were all to break, that would be a 0:13:11.320 --> 0:13:12.640 red headline worthy occurrence. 0:13:12.920 --> 0:13:15.280 Do you see this becoming an issue at the Democratic 0:13:15.400 --> 0:13:16.720 National Convention next month? 0:13:17.480 --> 0:13:21.160 It's certainly possible, but I would think it has to 0:13:21.200 --> 0:13:23.440 be solved earlier than that. And I've sort of got 0:13:23.440 --> 0:13:26.080 two reasons for that. One of them is that the 0:13:26.200 --> 0:13:29.800 simple it's math times too. The first bit of math 0:13:29.920 --> 0:13:34.120 is that Joe Biden has an overwhelming lead in the 0:13:34.160 --> 0:13:37.439 delegate count, and those delegates are pro Biden delegates. So 0:13:37.480 --> 0:13:39.480 you would think if something's going to break, it'll break 0:13:39.880 --> 0:13:42.280 among a different sort of set than that. Right, if 0:13:42.320 --> 0:13:44.559 it hasn't broken before, is that going to be the 0:13:44.559 --> 0:13:48.079 place where it breaks. The second thing is that there 0:13:48.080 --> 0:13:51.480 are some ballot deadlines that may may conflict and may 0:13:51.520 --> 0:13:53.360 actually come a little bit earlier, and so there has 0:13:53.400 --> 0:13:56.520 been a move among Democrats to want to formalize this 0:13:56.720 --> 0:14:00.720 process earlier, and that was in place before for the debate. 0:14:01.280 --> 0:14:03.880 Now all of this is playing out on an international stage, 0:14:04.320 --> 0:14:06.480 that has been brought to the back door of President 0:14:06.480 --> 0:14:08.559 Biden world leaders in Washington, d C. 0:14:08.720 --> 0:14:09.560 For the NATO Summit. 0:14:09.880 --> 0:14:12.679 Is there an impact being felt there or is this 0:14:12.720 --> 0:14:13.559 more wallpaper? 0:14:14.160 --> 0:14:15.680 Well? No, I do think there is going to be 0:14:15.720 --> 0:14:18.439 some impact, right you know there the goal of the 0:14:18.520 --> 0:14:23.000 NATO Summit is to is to triumph an alliance that 0:14:23.040 --> 0:14:26.320 has stood strong for what seventy five odd years, as 0:14:26.360 --> 0:14:29.560 well as to continue to provide support for Ukraine and 0:14:29.560 --> 0:14:32.200 then maybe also focus on the challenges that China presents 0:14:32.200 --> 0:14:37.040 in the world, you know, Visavia NATO Group. I do 0:14:37.120 --> 0:14:39.760 think that this becomes a question mark. You know, someone 0:14:39.880 --> 0:14:42.600 like Sir Kia Starmer, the new Prime Minister of the 0:14:42.680 --> 0:14:46.720 United Kingdom coming in, He's going to be asked an 0:14:46.720 --> 0:14:49.840 awful lot about about how he found Joe Biden. Is 0:14:49.880 --> 0:14:52.240 that the messaging he wants to have, So it does 0:14:52.360 --> 0:14:57.320 complicate things. I also think that it raises the It 0:14:57.440 --> 0:14:59.920 raises the stakes for every time that Biden is me 0:15:00.200 --> 0:15:02.840 with one of these world leaders having a public interaction, 0:15:03.000 --> 0:15:06.840 certainly the press conference he's planning to hold. All of 0:15:06.880 --> 0:15:08.800 those things I think are going to be very carefully 0:15:08.800 --> 0:15:12.600 watched and maybe maybe the headlines out of that aren't 0:15:12.640 --> 0:15:15.480 about Ukraine, and that's not necessarily what NATO wants. 0:15:15.960 --> 0:15:18.080 All Right, We've got less than a minute here, really quick. 0:15:18.120 --> 0:15:20.320 What else are you watching to come out of this 0:15:20.400 --> 0:15:22.200 NATO summit? What makes it successful? 0:15:22.920 --> 0:15:25.880 I'm watching for concrete talks about Ukraine. I'm watching to 0:15:25.960 --> 0:15:29.160 see whether or not Russia's attack on a hospital in 0:15:29.280 --> 0:15:32.680 Ukraine that shocked the conscience of many in the alliance, 0:15:34.360 --> 0:15:38.120 whether that is an escalatory thing. I'm particularly watching amy 0:15:38.120 --> 0:15:40.120 with an eye to November and the uncertainty that a 0:15:40.160 --> 0:15:44.040 possible Trump administration would bring. What Europeans are going to 0:15:44.080 --> 0:15:46.760 do in the NATO Alliance don't It's not going to 0:15:46.760 --> 0:15:48.160 be a situation where they're going to be able to 0:15:48.240 --> 0:15:50.480 count on the US to do all of the things 0:15:50.560 --> 0:15:53.600 if Trump wins, right, all of those contingencies that come 0:15:53.640 --> 0:15:57.240 out and the question marks that come out, So there 0:15:57.280 --> 0:15:59.440 really is a question right now, what does Germany do do? 0:16:00.120 --> 0:16:03.080 What does France do? That's what I'm really watching. 0:16:03.240 --> 0:16:06.600 You're listening to Bloomberg Daybreak Today, your morning brief on 0:16:06.680 --> 0:16:10.560 the stories making news from Wall Street to Washington and beyond. 0:16:10.680 --> 0:16:13.440 Look for us on your podcast feed at six am 0:16:13.520 --> 0:16:17.200 Eastern each morning on Apple, Spotify, and anywhere else you 0:16:17.240 --> 0:16:18.440 get your podcasts. 0:16:18.600 --> 0:16:21.840 You can also listen live each morning starting at five 0:16:21.880 --> 0:16:25.040 am Wall Street Time on Bloomberg eleven three to zero 0:16:25.080 --> 0:16:28.280 in New York, Bloomberg ninety nine to one in Washington, 0:16:28.640 --> 0:16:32.200 Bloomberg one oh sixty one in Boston, and Bloomberg nine 0:16:32.360 --> 0:16:33.920 sixty in San Francisco. 0:16:34.240 --> 0:16:37.400 Our flagship New York station is also available on your 0:16:37.440 --> 0:16:42.520 Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty. 0:16:42.400 --> 0:16:45.760 Plus listen coast to coast on the Bloomberg Business app, 0:16:46.000 --> 0:16:50.400 Sirius XM Channel one nineteen, the iHeartRadio app, and on 0:16:50.440 --> 0:16:53.400 Bloomberg dot com. I'm Amy Morris. 0:16:53.080 --> 0:16:56.240 And I'm Karen Moscow. Join us again tomorrow morning for 0:16:56.400 --> 0:16:58.880 all the news you need to start your day right 0:16:58.920 --> 0:17:00.520 here on Bloomberg Daybreak