Wall Street Braces for Inflation Report; Key Primary Results

Bloomberg Audio Studios, Podcasts, Radio News. 0:00:11.000 --> 0:00:11.559 Good morning. 0:00:11.600 --> 0:00:14.400 I'm Nathan Hager and I'm Karen Moscow. Here are the 0:00:14.440 --> 0:00:16.400 stories we're following today, Karen. 0:00:16.440 --> 0:00:19.279 Stocks around the world are heading for fresh records. There 0:00:19.440 --> 0:00:23.560 is optimism that this morning's inflation report will not undermine 0:00:23.600 --> 0:00:26.599 the case for interest rate cuts from the Federal Reserve. 0:00:26.920 --> 0:00:30.080 Bloomberg's Michael McKee has more on the consumer price data 0:00:30.120 --> 0:00:31.520 coming for the month of April. 0:00:32.080 --> 0:00:35.440 There's some nervousness on Wall Street after yesterday's hot producer 0:00:35.520 --> 0:00:39.839 price index. Will consumer price increases start slowing again? The 0:00:39.920 --> 0:00:42.919 forecast is for the annual core rate to fall. How 0:00:43.000 --> 0:00:46.720 much may depend on housing. Economists and Fed officials have 0:00:46.760 --> 0:00:49.919 been waiting for this inflation goodo to show up. It 0:00:50.000 --> 0:00:54.160 represents about a third of the overall CPI index. Fed 0:00:54.240 --> 0:00:57.840 Chair Powell yesterday suggested it's about time for rent and 0:00:57.960 --> 0:01:01.200 house prices to cool. What happens, it may have a 0:01:01.240 --> 0:01:04.840 major impact on the Fed's thinking about rate cuts. Michael McKee, 0:01:04.840 --> 0:01:05.640 Bloomberg Radio. 0:01:05.880 --> 0:01:09.040 Sorry, Michael, thanks well. It's also a busy morning four politics. 0:01:09.080 --> 0:01:12.000 It was a primary election day in Maryland, West Virginia, 0:01:12.040 --> 0:01:16.120 and Nebraska, and one race in particular could determined control 0:01:16.160 --> 0:01:19.720 of the Senate. In November, Angela also Brooks defeated one 0:01:19.760 --> 0:01:22.640 of the richest members of Congress, David Schron in Maryland's 0:01:22.680 --> 0:01:27.040 Democratic Senate primary. Also Brooks won with fifty four percent 0:01:27.080 --> 0:01:29.319 of the vote to Trone's forty one point nine percent. 0:01:29.600 --> 0:01:33.000 She'll face former Republican Governor Larry Hogan in November. 0:01:33.319 --> 0:01:36.959 You know they said the Hogan brand of politics was debt. 0:01:37.360 --> 0:01:39.760 Well, once again we proved them wrong tonight. 0:01:40.200 --> 0:01:43.200 And Larry Hogan is a critic of former President Trump 0:01:43.240 --> 0:01:46.319 and is expected to be competitive against also Brooks. She'd 0:01:46.360 --> 0:01:48.720 be Maryland's first black Senator if elected. 0:01:49.000 --> 0:01:52.600 In West Virginia, Karen Republican Governor Jim Justice won the 0:01:52.640 --> 0:01:56.360 primary for retiring Democrat Joe Mansions Senate seat with sixty 0:01:56.400 --> 0:01:59.280 one point nine percent of the vote. Justice is heavily 0:01:59.320 --> 0:02:02.240 favored to wain. In November, a couple of candidates with 0:02:02.320 --> 0:02:05.160 ties to the January sixth attack on the US Capitol 0:02:05.240 --> 0:02:08.920 lost their races. Derek Evans, a former West Virginia state 0:02:08.960 --> 0:02:11.919 representative who served three months in prison for taking part 0:02:11.960 --> 0:02:14.799 in the riot. He lost a primary challenge to Republican 0:02:14.840 --> 0:02:18.239 congresswoman Carol Miller Evans took just thirty seven percent of 0:02:18.280 --> 0:02:22.000 the vote to Miller's sixty three. Former US Capitol Police 0:02:22.040 --> 0:02:25.760 officer Harry Dunn fell short to Maryland state Senator Sarah 0:02:25.760 --> 0:02:28.760 Elfreth and a crowded Democratic primary for the state's third 0:02:28.760 --> 0:02:32.040 congressional district. Elfreth took thirty five point four percent of 0:02:32.080 --> 0:02:35.760 the vote to Dunn's twenty four point nine. And in Nebraska, 0:02:36.000 --> 0:02:39.480 Senator Pete Ricketts won a Republican special primary to fill 0:02:39.520 --> 0:02:42.399 the rest of Ben Sass's term. He took seventy nine 0:02:42.440 --> 0:02:45.240 point one percent of the vote and will face Democrat 0:02:45.280 --> 0:02:47.200 Preston Love Junior in November. 0:02:47.639 --> 0:02:50.120 Well Nathan Nowe to the latest developments in the hush 0:02:50.160 --> 0:02:53.720 money trial of Donald Trump, The defense has been grilling 0:02:53.760 --> 0:02:57.880 the prosecution's star witness, Michael Cohen. Began more from Bloomberg 0:02:57.960 --> 0:02:59.680 law host jow In Grosso in New York. 0:03:00.240 --> 0:03:04.880 During cross examination, Trump's lawyer Todd Blanche tried to undermine 0:03:04.880 --> 0:03:09.360 Michael Cohen's credibility painting. Cohen is a Trump obsessed loyalist 0:03:09.520 --> 0:03:12.720 who was spurned by the former president and turned into 0:03:12.760 --> 0:03:17.720 a vengeful publicity hound, making millions of dollars from books, podcasts, 0:03:17.760 --> 0:03:22.359 and merchandise sales all devoted to condemning Trump. Cohen's cross 0:03:22.360 --> 0:03:26.160 examination will continue on Thursday. He will be the final 0:03:26.200 --> 0:03:31.200 witness in the prosecution's case in New York. June Grosso Bloomberg. 0:03:30.800 --> 0:03:33.680 Radio, Okay, June, thank you now. To the latest developments 0:03:33.720 --> 0:03:35.960 in the war in Ukraine, Bloomberg News has learned the 0:03:36.000 --> 0:03:39.280 Biden administration is working to send an additional Patriot air 0:03:39.360 --> 0:03:42.280 defense battery to Kiev. The US and its allies have 0:03:42.360 --> 0:03:45.200 been scrambling to meet Ukraine's demands for more weapons against 0:03:45.240 --> 0:03:49.800 an intensified Russian assault. Meanwhile, during his visit to Kiev, 0:03:50.000 --> 0:03:53.240 Secretary of State Anthony Blinkin played along with a local 0:03:53.280 --> 0:04:02.600 band on Neil Young's Rocking in the Free World. Secretary 0:04:02.600 --> 0:04:04.720 Blincoln told the bar crowd he knows it is a 0:04:04.760 --> 0:04:07.480 difficult time for Ukraine, but he said the United States 0:04:07.520 --> 0:04:09.880 and so much of the world are with. 0:04:09.800 --> 0:04:13.480 Them well, Nathan. Geopolitical tensions between the US and China 0:04:13.520 --> 0:04:16.800 also remain front and center. A day after President Biden 0:04:16.839 --> 0:04:21.120 announced increased tariffs on China, Senate majority leader Chuck Schumer 0:04:21.200 --> 0:04:24.320 is indicating he wants to spend billions on technology to 0:04:24.440 --> 0:04:27.440 challenge China and other rivals. We get the details from 0:04:27.440 --> 0:04:29.400 Bloomberg Steve Potisk in Washington. 0:04:29.839 --> 0:04:33.280 According to a thirty page policy blueprint from a bipartisan 0:04:33.320 --> 0:04:36.479 group of senators, the US needs to shield Americans from 0:04:36.520 --> 0:04:40.640 the risks posed by artificial intelligence. They advocate promoting the 0:04:40.680 --> 0:04:43.880 emerging technology. With at least thirty two billion dollars in 0:04:43.920 --> 0:04:48.040 annual government spending, US companies currently hold the global lead, 0:04:48.120 --> 0:04:51.560 Yet China's race to develop highly advanced systems is putting 0:04:51.560 --> 0:04:55.240 pressure on lawmakers to craft a more lasting approach. Challenging 0:04:55.400 --> 0:04:58.560 China over economic and national security has been a rare 0:04:58.680 --> 0:05:01.839 area of common ground for lawmakers. A new law that 0:05:01.960 --> 0:05:07.000 passed with wide bipartisan support requires TikTok's Chinese owner byte 0:05:07.080 --> 0:05:10.200 Dance to sell the popular video sharing app or face 0:05:10.240 --> 0:05:14.839 a ban in the US. In Washington, Steve Potis Bloomberg Radio. 0:05:14.760 --> 0:05:16.840 O case, Steve, thank you. Meanwhile, China is said to 0:05:16.880 --> 0:05:19.919 be considering a proposal that would have local governments buy 0:05:20.120 --> 0:05:23.600 millions of unsold homes. We get more from Bloomberg Daybreak 0:05:23.640 --> 0:05:25.160 Asia anchor Brian Curtis. 0:05:25.160 --> 0:05:27.520 In Hong Kong, the State Council is said to be 0:05:27.520 --> 0:05:30.960 seeking feedback from the provinces on the plan. If this 0:05:31.120 --> 0:05:33.159 course is taken, it would be one of the most 0:05:33.200 --> 0:05:37.120 ambitious attempts yet to fix the property downturn. Sources say 0:05:37.160 --> 0:05:39.800 local state owned enterprises would be asked to buy the 0:05:39.880 --> 0:05:44.000 homes from distressed developers. This would be done at steep discounts, 0:05:44.279 --> 0:05:47.039 and it would be aided by loans from state banks. 0:05:47.440 --> 0:05:51.000 Many of the properties would then be converted into affordable housing. 0:05:51.480 --> 0:05:56.240 Details still being debated in Hong Kong. Brian Curtis, Bloomberg Radio, All. 0:05:56.240 --> 0:05:59.160 Right, Brian, thanks well. Turning to markets now, shares of 0:05:59.200 --> 0:06:02.240 game Stop and AMC Entertainment Or among the most active 0:06:02.279 --> 0:06:04.640 in the pre market as we enter another round of 0:06:04.680 --> 0:06:08.159 the memestock craze and McGain moore from Bloomberg's John Tucker, 0:06:08.279 --> 0:06:09.240 John and Karen. 0:06:09.320 --> 0:06:12.240 GameStop has picked up more than eleven billion dollars in 0:06:12.240 --> 0:06:14.960 market value this month, while AMC has gained some one 0:06:15.000 --> 0:06:18.200 point two billion. The trading volume has soared this week 0:06:18.240 --> 0:06:20.680 for both of the stocks, with hundreds of millions of 0:06:20.720 --> 0:06:23.880 shares exchanging hands over the past couple of days. However, 0:06:23.920 --> 0:06:26.080 the value of those shares traded for both stocks that 0:06:26.240 --> 0:06:28.760 does remain far below the levels seen three years ago. 0:06:29.279 --> 0:06:32.080 This latest rally erupted on Monday, following the return to 0:06:32.120 --> 0:06:35.760 social media of Keith Gill, who drove the memestock Mania 0:06:35.880 --> 0:06:39.800 twenty twenty one under the moniker Roaring Kitty. Even former 0:06:39.839 --> 0:06:41.960 bond king Bill Gross has gotten in on of the action. 0:06:42.279 --> 0:06:45.400 His strategy centers on selling what he describes as four 0:06:45.480 --> 0:06:49.880 hundred percent annualized volatility AMC Entertainment shares in the pre 0:06:50.000 --> 0:06:53.839 market up seven percent. Game Stop also up eight percent. 0:06:54.000 --> 0:06:56.159 Right now, John Tucker, Bloomberg. 0:06:55.800 --> 0:07:01.320 Radio, All right, John, thank you. It is time now 0:07:01.360 --> 0:07:02.679 for a look at some of the o their stories 0:07:02.680 --> 0:07:04.839 making news in New York and around the world. And 0:07:04.880 --> 0:07:07.880 for that we're joined by Bloomberg's Michael Barr Michael, good Morning. 0:07:07.720 --> 0:07:10.720 Good morning, Karen. House Speaker Among Johnson says the House 0:07:10.800 --> 0:07:13.160 will be moving ahead with a vote on a measure 0:07:13.560 --> 0:07:16.560 that would force the White House to resume the transfer 0:07:16.600 --> 0:07:20.320 of certain weapons to Israel. This comes after President Biden 0:07:20.400 --> 0:07:23.320 last week paused a shipment of two thousand pound bombs 0:07:23.560 --> 0:07:26.800 over concerns they be used in Southern Ghazam. However, the 0:07:26.800 --> 0:07:30.239 Biden administration don'tified Congress that it will be issuing more 0:07:30.600 --> 0:07:34.200 than one billion dollars in new weapons deals to Israel. 0:07:34.600 --> 0:07:37.640 Speaker Johnson says, though that the House will still vote 0:07:37.800 --> 0:07:39.840 on the Israel security assistance. 0:07:40.440 --> 0:07:42.800 We'll have to see what effect that has in a legislation, 0:07:42.920 --> 0:07:47.240 but I think it's important for us to express again 0:07:47.280 --> 0:07:49.760 the will of Congress on the matter, and so I 0:07:49.760 --> 0:07:52.200 don't think we'll be changing what we do. 0:07:52.200 --> 0:07:55.800 In the legislation. Opening statements as scheduled to begin today. 0:07:56.120 --> 0:08:00.360 In Senator Robert Menendez's corruption trial in Manhattan, the New 0:08:00.440 --> 0:08:04.160 Jersey Democrat is charged with taking bribes including gold bars, cash, 0:08:04.200 --> 0:08:07.240 and a Mercedes to help send aid and weapons to 0:08:07.320 --> 0:08:10.480 Egypt and cut it. Days after the release of a 0:08:10.560 --> 0:08:14.880 scathing report detailing a toxic workplace culture, the head of 0:08:14.920 --> 0:08:18.640 the FDIC has apologized again and is preparing to face 0:08:18.720 --> 0:08:22.920 lawmakers on Capitol Hill. Bloomberg's Amy Morris reports from Washington. 0:08:23.080 --> 0:08:26.280 The report details a culture of widespread sexual harassment and 0:08:26.320 --> 0:08:30.400 discrimination at the FDIC. Chairman Martin Gruenberg is vowing to 0:08:30.440 --> 0:08:34.439 overhaul the agency's culture and is resisting calls to step down. 0:08:34.800 --> 0:08:38.199 He's scheduled to appear before the House Financial Services Committee today, 0:08:38.400 --> 0:08:41.400 where he is expected to apologize again for the harassment 0:08:41.440 --> 0:08:44.680 and abuse that employees endured, and explain the changes that 0:08:44.720 --> 0:08:47.880 he says he in his office are already making. Republicans 0:08:47.880 --> 0:08:51.000 are demanding his resignation in light of the Biden administration's 0:08:51.160 --> 0:08:55.240 zero tolerance policy for workplace bullying in Washington. Amy Morris, 0:08:55.280 --> 0:08:56.040 Bloomberg Radio. 0:08:56.240 --> 0:08:59.800 Finally, the top prize at the Westminster Kennel Club Dogs 0:08:59.800 --> 0:09:01.520 Shaw Show was awarded last night. 0:09:02.000 --> 0:09:04.360 The Best in Show winner at the one hundred and 0:09:04.400 --> 0:09:08.520 forty eighth annual Westminster Kettle Club Dog Show is the 0:09:08.520 --> 0:09:09.760 miniature poodle. 0:09:10.600 --> 0:09:14.320 Sage best at six other finalists. Global News twenty four 0:09:14.360 --> 0:09:16.400 hours a day and whenever you want it with Bloomberg 0:09:16.440 --> 0:09:19.640 News Now. I'm Michael Barr, and this is Bloomberg Karen. 0:09:19.800 --> 0:09:26.079 All right, Michael Barr, thank you time now for the 0:09:26.120 --> 0:09:29.319 Bloomberg Sports Update. But John stash Hour, John, good morning. 0:09:29.120 --> 0:09:30.160 Good morning, Karen Nixon. 0:09:30.160 --> 0:09:33.120 Pacers Game five, just two days after Indiana won Game 0:09:33.160 --> 0:09:36.199 four by thirty four, same players, but a different arena 0:09:36.320 --> 0:09:39.040 at the Garden this time the next one by thirty 0:09:39.080 --> 0:09:41.920 one twenty one ninety one. And for Jalen Brunson, that's 0:09:41.920 --> 0:09:43.959 more like it played very much like the guy who 0:09:44.040 --> 0:09:47.719 previously had four straight forty point playoff games. Brunson went 0:09:47.760 --> 0:09:50.360 for forty four twenty eight in the first half. 0:09:50.679 --> 0:09:53.440 It was big time and they played really well back 0:09:53.440 --> 0:09:55.599 in Indiana put us on our heels and this we 0:09:55.760 --> 0:09:58.400 needed to respond. And so just doing what we do 0:09:59.000 --> 0:10:02.480 and sick in to our values, our court principles, and 0:10:02.559 --> 0:10:05.000 just doing the things that we do that help us 0:10:05.000 --> 0:10:05.640 be successful. 0:10:06.040 --> 0:10:08.160 Runs of that help is Josh Shard, TuS Bride, and 0:10:08.200 --> 0:10:11.360 Alec Burks all scored seventeen or eighteen points. Knicks plus 0:10:11.400 --> 0:10:15.120 twenty four rebounding, Isaiah Hartenstein twelve offensive boards. Nicks now 0:10:15.240 --> 0:10:18.319 up three to two. Game six Friday at Indiana, Denver 0:10:18.440 --> 0:10:20.880 was down to nothing, won their third straight from Minnesota, 0:10:20.880 --> 0:10:24.120 won twelve ninety seven to Kolajoki scored forty. The Bruins 0:10:24.160 --> 0:10:27.280 stay alive, They're going. Jeremy Swiman pulled the Mark Messi 0:10:27.320 --> 0:10:29.800 a guaranteed victory in Game five, and he made a 0:10:29.840 --> 0:10:32.400 game saving stop with eight seconds left in a two 0:10:32.400 --> 0:10:35.000 to one win at Florida High Drama in Western Canada. 0:10:35.000 --> 0:10:37.720 A minute after Vancouver tied the game, Edmondson scored with 0:10:38.040 --> 0:10:40.679 thirty nine seconds left to win three to two. The 0:10:40.760 --> 0:10:44.520 WNBA debut of Caitlyn Clark not great struggle to score early, 0:10:44.559 --> 0:10:48.080 had ten turnovers. Indiana lost by twenty one. The Liberty 0:10:48.120 --> 0:10:50.520 won the opener. In Washington, Yankees beat the Twins five 0:10:50.559 --> 0:10:53.640 to one. Thirteen Yankee hits, including the giant Carlos, Stanton 0:10:53.679 --> 0:10:56.240 Homer and Alex Verdugo two on double Mets had only 0:10:56.280 --> 0:10:59.120 four hits off Aaron Nola lost to the Philliest four nothing. 0:10:59.400 --> 0:11:02.280 John Station were Bloomberg Sports garn Nathan. 0:11:04.320 --> 0:11:08.600 Coast to coast on Bloomberg Radio nationwide on SYRIASXM, and 0:11:08.720 --> 0:11:12.040 around the world on Bloomberg dot Com and the Bloomberg 0:11:12.080 --> 0:11:14.920 Business app. This is Bloomberg Daybreak. 0:11:15.120 --> 0:11:17.160 Good morning, I'm Nathan Hager. We want to turn now 0:11:17.200 --> 0:11:20.000 to a conversation with the founder and CEO of Citadel 0:11:20.080 --> 0:11:23.559 Ken Griffin from the Katar Economic Forum powered by Bloomberg. 0:11:23.880 --> 0:11:26.920 In a wide ranging interview with Bloomberg's Eric Shatzker, Griffin 0:11:26.960 --> 0:11:30.720 weighed in on key economic and political issues, from geopolitical 0:11:30.760 --> 0:11:33.880 tensions to America's place on the world stage, the twenty 0:11:33.920 --> 0:11:38.240 twenty four presidential election, and both candidates economic policies. Let's 0:11:38.280 --> 0:11:39.640 go to a part of that discussion. 0:11:40.040 --> 0:11:43.439 It's sort of a continuation of the incoherent economic policies 0:11:43.480 --> 0:11:48.200 of the Biden administration. We've seen this giant push towards 0:11:48.320 --> 0:11:51.320 green energy over the course of the last several years, 0:11:51.840 --> 0:11:54.559 and at the same time a set of policies that 0:11:54.640 --> 0:11:58.640 run completely contrary to the state of goal. Trying to 0:11:58.679 --> 0:12:02.640 head towards zero carbon world world and placing enormous tariffs 0:12:02.679 --> 0:12:07.360 and Chinese evs which are low cost, high quality, of 0:12:07.440 --> 0:12:10.960 great value to American consumers is yet another part of 0:12:11.000 --> 0:12:14.520 the incoherent bi economic strategy. The other part of the 0:12:14.520 --> 0:12:17.920 strategy I scratched my head about is the US refusing 0:12:18.000 --> 0:12:22.280 to provide new LNG permits. Right, if you want the 0:12:22.320 --> 0:12:25.160 world to head towards a lower carbon footprint and move 0:12:25.200 --> 0:12:28.680 away from coal, access to LNG is a really important 0:12:28.679 --> 0:12:31.320 part of the equation, and yet the United States is 0:12:31.360 --> 0:12:34.160 refusing to permit new facilities in the foreseeable future. 0:12:34.760 --> 0:12:38.560 Ken Katar is playing an instrumental role in the peace 0:12:38.640 --> 0:12:43.400 talks or the effort to create piece as it were, 0:12:43.840 --> 0:12:46.840 between the Israelis and the Palestinians and to resolve the 0:12:46.880 --> 0:12:50.200 situation in Gaza, and with respect to hamas you've been 0:12:50.200 --> 0:12:54.280 outspoken about the pro Palestinian protests back in the United States, 0:12:54.320 --> 0:12:57.640 they've royal university campuses. You've been particularly critical of your 0:12:57.640 --> 0:13:01.800 ala mater, Harvard. Here's my question to you. When people 0:13:01.840 --> 0:13:04.840 here in the Gulf region and across the globe for 0:13:04.920 --> 0:13:10.120 that matter, see the chaos at Harvard or Columbia or 0:13:10.240 --> 0:13:14.000 USC or MIT and police and combat gear moving to 0:13:14.120 --> 0:13:16.640 clear encountments. 0:13:16.400 --> 0:13:18.560 How do you think that shapes their view of America? 0:13:19.600 --> 0:13:20.120 Not well? 0:13:21.480 --> 0:13:22.000 Not well? 0:13:22.400 --> 0:13:25.600 And what is lost is that what's happening on campus 0:13:25.679 --> 0:13:28.200 is not is not free speech. 0:13:28.240 --> 0:13:29.000 It's anarchy. 0:13:29.559 --> 0:13:32.240 You know, in Columbia, when they storm a building, they 0:13:32.320 --> 0:13:36.720 vandalize a building, they're destroying property, and then they ask 0:13:36.760 --> 0:13:39.120 for humanitarian aid, which is the greatest of all ironies. 0:13:39.640 --> 0:13:43.640 It's just the wrong It is the wrong dynamic that 0:13:43.640 --> 0:13:45.720 we're seeing take place in American campuses. 0:13:46.160 --> 0:13:46.960 These are students. 0:13:47.160 --> 0:13:49.200 Most of these students on campuses are trying to learn, 0:13:49.559 --> 0:13:53.040 they're trying to have an education, and the university should 0:13:53.040 --> 0:13:57.880 be really trying to encourage a constructive debate between the 0:13:57.920 --> 0:14:00.840 students of different backgrounds, whether they're from the Middle East, 0:14:01.240 --> 0:14:04.920 whether they're of Jewish origin. It's really important that the 0:14:05.040 --> 0:14:07.720 generation that will be the generation that runs the world 0:14:07.720 --> 0:14:11.320 in forty years tries to learn from this horrible moment 0:14:11.320 --> 0:14:15.199 in history. And we're not fostering that environment on campuses today. 0:14:15.200 --> 0:14:19.480 And it's really it's a huge, huge disappointment that so 0:14:19.640 --> 0:14:22.520 much what we see on campus. You've seen the video 0:14:22.520 --> 0:14:24.560 footage of the kids interviewed, why are you here? What 0:14:24.600 --> 0:14:27.800 are you protesting about? Often they can't even answer basic 0:14:27.920 --> 0:14:31.400 questions about what's happening in the region and why it's 0:14:31.440 --> 0:14:32.080 taking place. 0:14:33.320 --> 0:14:34.080 Can people here? 0:14:34.120 --> 0:14:36.800 And I suspect those watching us around the world are 0:14:36.840 --> 0:14:41.840 eager for your insights into what might happen during and 0:14:41.960 --> 0:14:46.400 after the US election. How might US foreign policy and 0:14:46.480 --> 0:14:49.880 defense policy change if Donald Trump were to return. 0:14:49.640 --> 0:14:50.320 To the White House. 0:14:50.840 --> 0:14:53.960 So, if President Trump returns to the White House, I 0:14:54.000 --> 0:14:56.720 think you'll see a global perception of a stronger America. 0:14:57.240 --> 0:14:57.480 Now. 0:14:57.600 --> 0:15:04.000 The Biden administration's form policies, the actual policies are generally speaking, thoughtful, 0:15:04.720 --> 0:15:11.680 but to be blunt, America does not exude credibility or 0:15:11.720 --> 0:15:16.680 strength in its actions around the world today. Our positioning 0:15:16.800 --> 0:15:19.880 does not match the thoughtfulness of our policies. That's a 0:15:20.040 --> 0:15:23.320 very difficult place to be in a world which has 0:15:23.720 --> 0:15:26.840 the geopolitical cross currents that we spoke about earlier, and 0:15:26.880 --> 0:15:30.000 it means that those who are willing to push to 0:15:30.080 --> 0:15:33.000 see how far you can push America are willing to 0:15:33.040 --> 0:15:36.760 push harder than we want to see happening. And I 0:15:36.800 --> 0:15:40.320 think that anybody who knows President Trump knows that is 0:15:40.360 --> 0:15:42.840 not somebody you just pushed to see what's going to happen. 0:15:43.280 --> 0:15:47.480 That's the wrong strategy with President Trump. And so I 0:15:47.520 --> 0:15:50.640 believe that President Trump will have very good people in 0:15:50.760 --> 0:15:53.920 form policy and in the Department of Defense, but I 0:15:53.960 --> 0:15:58.280 think he will exude a level of strength that will 0:15:58.280 --> 0:16:01.560 help to stabilize the world in this very, very trying times. 0:16:01.840 --> 0:16:04.880 This is Bloomberg Daybreak Today, your morning brief on the 0:16:04.920 --> 0:16:08.360 stories making news from Wall Street to Washington and beyond. 0:16:08.640 --> 0:16:11.400 Look for us on your podcast feed at six am 0:16:11.480 --> 0:16:15.120 Eastern each morning, on Apple, Spotify, and anywhere else you 0:16:15.200 --> 0:16:16.360 get your podcasts. 0:16:16.480 --> 0:16:19.200 You can also listen live each morning starting at five 0:16:19.240 --> 0:16:21.880 am Wall Street time on Bloomberg eleven three to zero 0:16:21.880 --> 0:16:24.760 in New York, Bloomberg ninety nine to one in Washington, 0:16:24.840 --> 0:16:27.720 Bloomberg one oh six to one in Boston, and Bloomberg 0:16:27.800 --> 0:16:29.480 ninety sixty in San Francisco. 0:16:29.840 --> 0:16:33.000 Our flagship New York station is also available on your 0:16:33.040 --> 0:16:38.480 Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty plus. 0:16:38.520 --> 0:16:42.080 Listen coast to coast on the Bloomberg Business app, seriusxmb 0:16:42.240 --> 0:16:46.000 iHeartRadio app, and on Bloomberg dot Com. I'm Nathan Hager 0:16:46.080 --> 0:16:47.360 and I'm Karen Moscow. 0:16:47.440 --> 0:16:50.200 Join us again tomorrow morning for all the news you 0:16:50.320 --> 0:17:02.680 need to start your day right here on Bloomberg Daybreak