One-Time Rivals Praise Trump at RNC; Trump Speaks to Bloomberg

Bloomberg Audio Studios, Podcasts, Radio News. 0:00:09.880 --> 0:00:10.440 Good morning. 0:00:10.480 --> 0:00:13.280 I'm Nathan Hager and I'm Karen Moscow. Here are the 0:00:13.320 --> 0:00:14.800 stories we're following today. 0:00:15.080 --> 0:00:18.280 Karen, let's start with the latest from the Republican National Convention. 0:00:18.440 --> 0:00:21.000 The second night of the event in Milwaukee saw a 0:00:21.040 --> 0:00:24.480 full throated show of support for former President Donald Trump 0:00:24.720 --> 0:00:28.040 from his former primary rivals, including Nicky Haley. 0:00:28.760 --> 0:00:33.480 Donald Trump has my strong endorsement period. 0:00:34.720 --> 0:00:38.000 The former South Carolina governor was not originally scheduled to 0:00:38.040 --> 0:00:41.040 speak at this convention, but after the attempt on Trump's 0:00:41.120 --> 0:00:43.960 life last weekend, Haley says she agreed to appear in 0:00:44.000 --> 0:00:46.920 the name of unity. The delegates also heard from another 0:00:46.920 --> 0:00:50.440 twenty twenty four primary candidate, Florida Governor Ron DeSantis. 0:00:50.960 --> 0:00:51.519 We need a. 0:00:51.479 --> 0:00:55.120 Commander in chief who can lead twenty four hours a 0:00:55.200 --> 0:01:02.120 day and seven days a week. America cannot four more 0:01:02.280 --> 0:01:05.200 years of a weekend at Bernie's presidency. 0:01:06.120 --> 0:01:09.360 Governor DeSantis and other convention speakers focused on the theme 0:01:09.440 --> 0:01:12.760 of the evening make America Safe Again. The accused President 0:01:12.760 --> 0:01:16.520 Biden of letting the country be overrun by undocumented migrants 0:01:16.600 --> 0:01:17.360 and fentanyl. 0:01:17.840 --> 0:01:21.120 Well, Nathan Bloomberg News has learned security around Trump was 0:01:21.160 --> 0:01:24.479 boosted by the Secret Service after they picked up intelligence 0:01:24.520 --> 0:01:28.080 of an Iranian plot to assassinate him. Officials say there 0:01:28.160 --> 0:01:31.920 is no indication that there's any link to Thomas Matthew Crooks, 0:01:31.920 --> 0:01:34.720 who's accused of shooting at Trump at a rally on Saturday. 0:01:35.000 --> 0:01:37.880 Begin More from Bloombergs senior editor Bill Ferries. 0:01:38.600 --> 0:01:41.960 We've seen a threat against the number of former Trump 0:01:42.040 --> 0:01:46.440 administration officials, a lot of that tied to the administration's 0:01:46.560 --> 0:01:49.760 killing of the top Iranian general, case of Solimani in 0:01:49.840 --> 0:01:53.760 early twenty twenty. We know that officials like former Secretary 0:01:53.760 --> 0:01:57.440 of State Mike Pompeo, former National Security Advisor John Bolton, 0:01:57.760 --> 0:02:01.040 those men all have added security, which is unusual for 0:02:01.120 --> 0:02:04.000 a former official because of those threats. But this is 0:02:04.040 --> 0:02:07.120 the first time we've learned about a direct threat against 0:02:07.120 --> 0:02:08.280 Donald Trump himself. 0:02:08.440 --> 0:02:11.960 Bloomberg's Bill Ferries Aarana said in a social media post 0:02:12.000 --> 0:02:14.760 that the reports of its involvement in a plot against 0:02:14.800 --> 0:02:16.720 Trump are baseless. 0:02:16.240 --> 0:02:16.680 Well Karen. 0:02:16.720 --> 0:02:20.000 Prior to last weekend's assassination attempt, and shortly before his 0:02:20.040 --> 0:02:23.680 debate with President Biden, Donald Trump spoke to Bloomberg BusinessWeek 0:02:23.720 --> 0:02:27.120 about his economic plans for a second term. Nancy Cook 0:02:27.280 --> 0:02:29.799 was one of the Bloomberg journalists who conducted the ninety 0:02:29.800 --> 0:02:32.400 minute interview. She says they asked Trump if he wants 0:02:32.440 --> 0:02:35.240 to remove FED chair J Powell from his position. 0:02:35.960 --> 0:02:38.840 He said, there's a lot of false information out there. 0:02:39.000 --> 0:02:41.280 These were his words. And then we asked him if 0:02:41.320 --> 0:02:43.880 he would allow j. Powell to serve out the term 0:02:43.919 --> 0:02:46.200 that Biden appointed him to, and he said he would 0:02:46.280 --> 0:02:49.080 allow him to serve. He did add the caveat like, 0:02:49.639 --> 0:02:51.680 as long as I thought he was doing things right. 0:02:52.000 --> 0:02:54.200 He said he did not think that they should cut 0:02:54.240 --> 0:02:57.440 interest rates before the election, sort of again implying that 0:02:57.480 --> 0:02:59.799 if they did, that would be like a political move 0:03:00.080 --> 0:03:03.120 to sort of help Biden. And also he sort of 0:03:03.160 --> 0:03:06.800 resisted several questions that we asked him about sort of 0:03:07.080 --> 0:03:09.000 nudging the FED or what he would do. 0:03:09.240 --> 0:03:11.839 Bloomberg's Nancy Cook says Trump also told her he wants 0:03:11.919 --> 0:03:14.800 to bring the corporate tax rate to his lowest fifteen percent, 0:03:15.160 --> 0:03:17.960 and that he'd even consider Jamie Dimon to be the 0:03:18.000 --> 0:03:21.000 next Treasury secretary. Hear more from Nancy on who sit 0:03:21.120 --> 0:03:23.160 down with Donald Trump on the latest edition of The 0:03:23.160 --> 0:03:25.880 Big Take podcast with David Gura. You can get it 0:03:25.919 --> 0:03:29.800 on Apple, Spotify or anywhere else you get your podcasts. 0:03:29.440 --> 0:03:33.560 Well, Nathan. While the Republican Convention continues, President Biden is 0:03:33.600 --> 0:03:35.920 back out on the campaign trail. He reached down to 0:03:35.960 --> 0:03:39.520 black voters at the NAACP's convention in Las Vegas. 0:03:40.000 --> 0:03:41.760 Just think about where the black community was and we 0:03:42.000 --> 0:03:44.440 can you know, is when I came to office, think about 0:03:44.440 --> 0:03:45.000 how far the. 0:03:44.960 --> 0:03:47.760 Black community has come. We still got a lot way 0:03:47.800 --> 0:03:48.080 to go. 0:03:48.680 --> 0:03:51.240 And the President said the political temperature needs to come 0:03:51.280 --> 0:03:54.320 down after the shooting at former President Trump's rally, but 0:03:54.400 --> 0:03:58.080 he also says Americans should not ignore violence against Black 0:03:58.120 --> 0:04:01.000 Americans and easy access to us on the streets. 0:04:01.160 --> 0:04:05.040 Meantime, Karen, the Biden administration's considering a tougher chip crackdown 0:04:05.120 --> 0:04:08.040 against China. The US has tolled allies. It's considering the 0:04:08.080 --> 0:04:11.760 most severe trade restrictions against companies like Tokyo Electron and 0:04:11.840 --> 0:04:16.920 ASML if they continue giving China access to advanced semiconductor technology. 0:04:17.000 --> 0:04:18.760 We get more from Bloomberg's Oliver Krug. 0:04:19.160 --> 0:04:21.000 This would be basically using a new instrument, which is 0:04:21.000 --> 0:04:24.160 the Foreign Direct Product Rule, which is basically imposing that 0:04:24.320 --> 0:04:27.400 any foreign made products that use even a little bit 0:04:27.520 --> 0:04:30.560 of China of American technology within it would be legally 0:04:30.680 --> 0:04:32.680 banned from doing so, right, and this is aimed really 0:04:32.720 --> 0:04:35.039 at the service and repair of many of the chip 0:04:35.080 --> 0:04:37.600 building equipment that is already in China, rather than new 0:04:37.640 --> 0:04:40.799 stuff coming in which US firms are already banned from doing, 0:04:40.839 --> 0:04:43.000 and there are already some restrictions there, but this would 0:04:43.000 --> 0:04:45.360 be a sort of patent sort of ban on them. 0:04:45.760 --> 0:04:48.760 Bloomberg's Aali Kruk shares of asml or down six and 0:04:48.760 --> 0:04:51.360 a half percent. Tokyo Electron is down seven and a 0:04:51.440 --> 0:04:52.159 half percent. 0:04:52.720 --> 0:04:55.200 Turning to the markets now, Nathan stocks entering the day 0:04:55.240 --> 0:04:59.080 at record highs, and they're not led by big tech. 0:04:59.200 --> 0:05:01.599 Wall Street extent and did a pattern of money rotating 0:05:01.640 --> 0:05:04.800 into small caps and out of megacap safety since last 0:05:04.800 --> 0:05:07.720 week's soft inflation data. Over the past four sessions, the 0:05:07.720 --> 0:05:10.240 Wrestle two thousand has beaten the Nasdaq one hundred by 0:05:10.279 --> 0:05:13.920 almost twelve percentage points, which has not happened since twenty eleven. 0:05:14.080 --> 0:05:16.279 Man Karen Shares a Bank of America closed it a 0:05:16.320 --> 0:05:19.720 two year high following better than expected earnings. Bank's CEO 0:05:19.960 --> 0:05:23.760 Brian moynihan tells Bloomberg's David Weston BAA's adding customers in 0:05:23.880 --> 0:05:26.000 small and mid market business loans. 0:05:26.320 --> 0:05:30.000 If you look across the loan categories, credit card growth 0:05:30.040 --> 0:05:33.080 was decent. Homeworker growth is kind of bouncing along because 0:05:33.480 --> 0:05:35.720 consumers aren't using their home ecre loans yet they may 0:05:37.080 --> 0:05:38.880 morgas lending. The activity relatively flat. 0:05:38.880 --> 0:05:39.320 There you go. 0:05:39.320 --> 0:05:41.039 On the commercial side, the great news is we grew 0:05:41.080 --> 0:05:43.200 small business and business banking, which is our fifty many 0:05:43.279 --> 0:05:46.239 hire segment. It grew for small business for the twentieth 0:05:46.279 --> 0:05:47.320 consecutive quarter with. 0:05:47.360 --> 0:05:48.680 The number one small business lender. 0:05:48.720 --> 0:05:50.919 Despite what you hear, we are the largest small business 0:05:50.960 --> 0:05:54.080 lender in America and that grew, which it means there's activity. 0:05:54.279 --> 0:05:57.040 Bank of America CEO Brian moynihan says the company also 0:05:57.080 --> 0:06:00.040 notched its best second quarter ever for stock trading. And 0:06:00.120 --> 0:06:02.680 hear his full conversation with David Weston on the Bloomberg 0:06:02.720 --> 0:06:06.640 Talks podcast that's available anywhere you get your podcasts. 0:06:06.880 --> 0:06:09.760 We have a bullish forecast on Tesla Nathan from a 0:06:09.880 --> 0:06:14.080 top investor. ARC Investment's Kathy Woods says the ev maker 0:06:14.120 --> 0:06:17.279 will search tenfold because of its move into the more 0:06:17.320 --> 0:06:21.320 profitable autonomous taxi platform business. What has been bullish on 0:06:21.400 --> 0:06:24.240 Tesla for a long time, making it a top holding 0:06:24.279 --> 0:06:27.320 in our Arc Innovation ETF. The fund is lost nearly 0:06:27.440 --> 0:06:28.640 nine percent this year. 0:06:28.800 --> 0:06:31.640 Thank Caerry, We've got a change of the guard at HSBC. 0:06:31.800 --> 0:06:34.800 The bank has named George L. Hedri its next chief 0:06:34.839 --> 0:06:38.920 executive officer. This continues the lenders' tradition of picking insiders 0:06:38.960 --> 0:06:41.040 to run the bank. The fifty year old is currently 0:06:41.200 --> 0:06:44.760 HSBC's Chief Financial Officer. Al Henry takes over as CEO 0:06:44.800 --> 0:06:48.000 in September, replacing Noel Quinn. In April, he announced a 0:06:48.080 --> 0:06:51.880 surprise decision to retire from HSBC after a more than 0:06:51.960 --> 0:06:53.080 three decade career. 0:06:56.480 --> 0:06:57.760 And it's time now for a look at some of 0:06:57.760 --> 0:06:59.880 the other stories making news in New York and around 0:06:59.880 --> 0:07:03.039 the world. For that, we're joined by Bloomberg's Michael Barr Michael, 0:07:03.080 --> 0:07:03.919 Good Morning. 0:07:03.680 --> 0:07:07.200 Good Morning, Karen, New Jersey. Senator Bob Menendez says he 0:07:07.320 --> 0:07:11.000 plans to appeal Tuesday's conviction for taking bribes from Egypt. 0:07:11.520 --> 0:07:14.960 The jury found the former Senate Foreign Relations Chair guilty 0:07:15.320 --> 0:07:19.560 on all sixteen counts, accepting gold bars, lavish gifts and 0:07:19.640 --> 0:07:23.600 other items in exchange for official favors. The calls rang 0:07:23.640 --> 0:07:26.520 out from Menendez to resign, including from a Senate majority 0:07:26.640 --> 0:07:30.560 leader Chuck Schumer, Junior, New Jersey Senator Corey Booker, and 0:07:30.880 --> 0:07:34.360 New Jersey Governor Phil Murphy. Menendez spoke after. 0:07:34.160 --> 0:07:38.080 The verdict, I have never ever been a foreign agent, 0:07:38.560 --> 0:07:42.040 and the decision ridened it by the jury today would 0:07:42.040 --> 0:07:45.080 put at risk every member of the United States Senate 0:07:45.400 --> 0:07:48.520 in terms of what they think a foreign agent would be. 0:07:49.080 --> 0:07:53.000 Meanwhile, the US Attorney Damian Williams said Menendez's years of 0:07:53.120 --> 0:07:56.360 selling his office to the highest bidder finally come to 0:07:56.400 --> 0:08:00.200 an end. Christine Curtis, acting Assistant Director of the FBI 0:08:00.360 --> 0:08:02.000 New York Office. 0:08:01.680 --> 0:08:05.520 Public corruption investigations are vital to our democracy because they 0:08:05.520 --> 0:08:09.320 hold our leaders accountable and ensure they serve the public's interest, 0:08:09.640 --> 0:08:10.320 not their own. 0:08:10.720 --> 0:08:15.120 Menendez is due to be sentenced October twenty ninth. Newark 0:08:15.240 --> 0:08:19.080 City Council President Lamonica mcgiver is the victor and Tuesday 0:08:19.160 --> 0:08:23.360 Special House Democratic primary to succeed the late Donald Payne 0:08:23.400 --> 0:08:27.200 in Congress. Mcguver at forty seven percent, beat her closest 0:08:27.240 --> 0:08:30.720 challenger by more than thirty points. Payne died in April, 0:08:30.760 --> 0:08:33.720 after serving in the House for over two decades. A 0:08:33.760 --> 0:08:37.520 special general election will take place September eighteenth to fill 0:08:37.559 --> 0:08:41.160 the remainder of Payne's term ending January twenty fifth. In 0:08:41.200 --> 0:08:46.880 the heavily democratic tenth District. Republican Carmen Bucco was uncontested 0:08:46.960 --> 0:08:49.760 in the GOP primary and is the nominee and the 0:08:49.800 --> 0:08:53.600 regular election as well. A big boom made more than 0:08:53.679 --> 0:08:56.080 a few people in the New York City area look 0:08:56.200 --> 0:09:00.080 up and take notice yesterday afternoon. NASA now confirm I 0:09:00.280 --> 0:09:02.960 a small medior flew over the New York City area. 0:09:03.400 --> 0:09:05.480 This New Yorker was with his cat and dog. 0:09:06.000 --> 0:09:09.200 There was the initial boom, and then like less than 0:09:09.200 --> 0:09:12.000 a second after that, there was a tremble of the 0:09:12.040 --> 0:09:14.920 house any a dog, Golden Retriever and a cat, both 0:09:14.960 --> 0:09:17.280 of which the Golden tree jumps out of a skin, 0:09:17.320 --> 0:09:19.640 and the cat and just darted under the sofa. 0:09:20.320 --> 0:09:23.559 NASA says the media originated above New York City and 0:09:23.720 --> 0:09:27.959 passed over the Statue of Liberty before disintegrating above New Jersey. 0:09:28.480 --> 0:09:31.000 Global News twenty four hours a day and whenever you 0:09:31.080 --> 0:09:34.360 wanted with Bloomberg News. Now, I'm Michael Barr and this 0:09:34.600 --> 0:09:35.600 is Bloomberg. Karen. 0:09:35.880 --> 0:09:42.360 All right, Michael Barr, thank you, and it's time now 0:09:42.400 --> 0:09:45.160 for the Bloomberg Scores update with John stash Hour. 0:09:45.280 --> 0:09:47.800 John, good morning, Good morning, Karen. The stars were out 0:09:47.840 --> 0:09:50.560 in Texas, and there's no bigger star right now than 0:09:50.640 --> 0:09:52.920 Shoe Aotani. In the third and in he had a 0:09:52.960 --> 0:09:55.160 three run homer off the Red Sox tailor out to 0:09:55.240 --> 0:09:57.240 National Lee took a three nothing All Star Game lead, 0:09:57.679 --> 0:10:00.680 but didn't score again alside the game bottom of third 0:10:00.720 --> 0:10:02.800 the Yankees Juan Soto two run double. 0:10:02.800 --> 0:10:05.560 He later scored it was three to three in the fifth. 0:10:06.240 --> 0:10:07.959 And this is the guy that will take the extra 0:10:08.000 --> 0:10:10.720 base if he puts it in play, and this one maybe. 0:10:10.480 --> 0:10:11.079 Out of play. 0:10:11.160 --> 0:10:15.040 He smacks one dright can it is way out of here? 0:10:15.720 --> 0:10:20.040 Sharon Durant on twenty five rows up great center field 0:10:20.080 --> 0:10:23.880 a two run home run, and now the American League is. 0:10:23.920 --> 0:10:26.360 On top of the ESPN Radio had a duranzomer coming 0:10:26.360 --> 0:10:28.680 off the Giants Logan web Al one five to three, 0:10:28.679 --> 0:10:31.720 a game that saw twenty pitchers used, although not the Yankees. 0:10:31.760 --> 0:10:34.760 Clay Homes, Aaron Judge, a couple of groundouts, Pete Alonzo 0:10:34.800 --> 0:10:37.240 the Mets came up once he struck out. Caleb Williams, 0:10:37.320 --> 0:10:39.680 drafted first over all this past able, but the Chicago 0:10:39.760 --> 0:10:43.239 Bears has his contract four years, thirty nine million fully guaranteed, 0:10:43.679 --> 0:10:46.120 expected to be the Bears Week one starting QB. Only 0:10:46.200 --> 0:10:49.160 four first round picks have not yet signed. Forty nine 0:10:49.240 --> 0:10:52.760 Ers wide out Brandon Ayuk has seen top stall regarding 0:10:52.800 --> 0:10:54.880 a new contract. He's asked for a trade. The Niners 0:10:54.920 --> 0:10:58.040 say they have no intention, though well traveled thirty six 0:10:58.160 --> 0:11:00.840 year old Patrick Beverly, who's played for an NBA team 0:11:00.920 --> 0:11:02.679 just in the last six years, as a new team 0:11:03.200 --> 0:11:05.959 Tel Aviv, but the Israeli League NBA Summer League in 0:11:06.000 --> 0:11:09.000 Las Vegas. Alex Saar, who last month was the second 0:11:09.000 --> 0:11:11.000 pick of the draft of Washington, had a night to forget. 0:11:11.040 --> 0:11:14.240 The nineteen year old Frenchman shot zero for fifteen. Kobe 0:11:14.240 --> 0:11:16.480 Bryant's father has passed away. Joe Bryant played in the 0:11:16.559 --> 0:11:18.959 NBA many years in Italy, had recently suffered at stroke. 0:11:19.360 --> 0:11:23.000 Joe Jellyban Bryant the sixteen nine John Stashedward Bloomberg Sports. 0:11:23.040 --> 0:11:23.439 Can you. 0:11:25.880 --> 0:11:30.000 Coast to Coast on Bloomberg Radio nationwide on Sirius XM 0:11:30.080 --> 0:11:32.960 and around the world on Bloomberg dot Com and the 0:11:33.040 --> 0:11:36.439 Bloomberg Business app. This is Bloomberg Daybreak. 0:11:36.640 --> 0:11:39.880 Good morning on Nathan Hager. A message of unity is 0:11:39.920 --> 0:11:43.600 coming through at the Republican National Convention. One time rivals 0:11:43.640 --> 0:11:47.480 of former President Donald Trump, including Nicki Haley, are getting 0:11:47.559 --> 0:11:48.640 behind their nominee. 0:11:49.160 --> 0:11:52.720 I'm here tonight because we have a country to save, 0:11:54.559 --> 0:11:59.280 and a unified Republican Party is essential for saving her. 0:12:00.880 --> 0:12:03.000 For more this morning, we were joined by Bloomberg News 0:12:03.000 --> 0:12:06.320 Senior editor Bill Ferries spill. Good morning. We've heard a 0:12:06.320 --> 0:12:09.720 lot of talk about unifying after the attempt on former 0:12:09.760 --> 0:12:12.920 President Trump's life, but we just heard from Nicki Haley. 0:12:13.360 --> 0:12:16.560 Unifying the Republican Party sounds a lot like the message 0:12:16.559 --> 0:12:17.920 we're getting out of Milwaukee. 0:12:19.200 --> 0:12:23.000 Yeah, Nathan, absolutely. It was a parade of former rivals 0:12:23.080 --> 0:12:27.079 to President Trump taking the stage there at the Republican Convention. 0:12:27.240 --> 0:12:30.480 But Nicky Haley was probably one of the biggest there. 0:12:30.520 --> 0:12:33.840 You know, she led the longest primary fight against the 0:12:33.880 --> 0:12:37.280 former president this year, and there were even doubts when 0:12:37.320 --> 0:12:41.000 she withdrew whether she would really be behind Trump or 0:12:41.040 --> 0:12:44.800 not heading into this election. But she was there saying that, 0:12:45.040 --> 0:12:48.080 you know, Donald Trump is the best choice for the 0:12:48.120 --> 0:12:53.240 next president. You you had former rivals like Ron DeSantis 0:12:53.320 --> 0:12:56.320 taking the stage, and they also DeSantis and Trump had 0:12:56.360 --> 0:12:59.520 a very bitter fight in the primaries, and for a 0:12:59.559 --> 0:13:02.760 long time Desanta's had the money war chest that dwarfed 0:13:02.840 --> 0:13:05.520 what President Trump had, but he was there as well. 0:13:05.920 --> 0:13:08.760 You had Laura Trump take the stage just to enforce 0:13:08.840 --> 0:13:11.360 the idea that this is really Trump's party. It's his 0:13:11.520 --> 0:13:13.440 daughter a law and she is a co chair of 0:13:13.440 --> 0:13:16.840 the RNC. So it was an impressive display of unity 0:13:17.400 --> 0:13:19.920 at a time when the Democrats, of course, are still 0:13:20.360 --> 0:13:23.640 facing a lot of disunity over whether Joe Biden should 0:13:23.640 --> 0:13:26.080 be the candidate for them going forward into November. 0:13:26.360 --> 0:13:30.760 So we're seeing the display of unity from the speakers. 0:13:30.800 --> 0:13:34.880 Are we hearing a unified message in terms of the 0:13:34.880 --> 0:13:38.160 themes the issues that the Republicans are going to put 0:13:38.160 --> 0:13:39.720 forward as this campaign goes on. 0:13:40.440 --> 0:13:43.679 Well, the platform this year is noticeably thin compared to 0:13:43.800 --> 0:13:46.800 years past. This is really you know, I think people 0:13:46.880 --> 0:13:50.840 are putting aside their public differences and getting on board. 0:13:50.880 --> 0:13:54.360 And it's clear from the attendance at the RNC that 0:13:55.000 --> 0:13:56.679 you know, there's a lot of people, there are a 0:13:56.720 --> 0:13:59.880 lot of people who aren't there this year. There are 0:14:01.000 --> 0:14:04.080 former presidents and vice presidents, and you talk about people 0:14:04.160 --> 0:14:06.679 like George Bush or Dan Quayle. I mean, these kind 0:14:06.760 --> 0:14:08.840 of people would be standard, you know, they would be 0:14:08.920 --> 0:14:13.160 standard participants in a Republican Convention in any other year, 0:14:13.960 --> 0:14:16.360 they are not there. You had Mitch McConnell getting on 0:14:16.480 --> 0:14:19.960 stage and receiving a lot of booze at the RNC. 0:14:20.120 --> 0:14:23.480 So I think what we've seen so far this week 0:14:23.560 --> 0:14:26.880 shows that former President Trump has a very very tight 0:14:26.920 --> 0:14:31.320 grip on the messaging of the RNC and the actual 0:14:31.360 --> 0:14:32.000 control of it. 0:14:32.280 --> 0:14:34.560 Well, we're certainly getting a lot of ideas about what 0:14:34.600 --> 0:14:37.080 a second Trump term might mean in terms of policy. 0:14:37.120 --> 0:14:39.560 In this wide ranging interview that's going to be on 0:14:39.600 --> 0:14:43.520 the cover of Bloomberg Business Week, talk us through a 0:14:43.560 --> 0:14:46.040 little bit of that in terms of what we could 0:14:46.040 --> 0:14:49.280 get from the former president in terms of tax policy, 0:14:49.360 --> 0:14:50.680 in terms of foreign policy. 0:14:51.600 --> 0:14:55.240 Yeah, President Trump spoke with our reporters at length at 0:14:55.320 --> 0:14:58.280 mar A Lago. This was in late June, just before 0:14:58.440 --> 0:15:01.800 the primary debate with Joe Biden. He talked a lot 0:15:01.880 --> 0:15:04.560 about the economy, who talked a lot about foreign policy 0:15:04.920 --> 0:15:07.440 in terms of the specifics, you know, he talked about 0:15:07.440 --> 0:15:10.640 tax policy. He said he'd like to see his signature 0:15:10.760 --> 0:15:14.240 twenty seventeen tax cuts, which are due to expire, I 0:15:14.240 --> 0:15:17.640 think at the end of next year extended. He'd maybe 0:15:17.680 --> 0:15:20.720 even like to see an additional reduction in the corporate 0:15:20.760 --> 0:15:24.120 tax rate, which his law lowered from thirty five percent 0:15:24.120 --> 0:15:26.720 to twenty one percent. He talked about seeing it at 0:15:26.760 --> 0:15:30.800 twenty percent or lower. He made some very interesting comments 0:15:30.840 --> 0:15:33.320 about the Federal Reserve. You know, the markets have been 0:15:33.720 --> 0:15:38.400 pricing in two rate cuts, possibly later this year. At 0:15:38.480 --> 0:15:40.680 President Trump came in and said he doesn't think the 0:15:40.720 --> 0:15:44.000 FED should make any cuts before the election, signaling that 0:15:44.040 --> 0:15:46.880 he thinks that would only serve to help Joe Biden. 0:15:47.560 --> 0:15:49.960 But on another point with the Fed that people are watching, 0:15:50.000 --> 0:15:53.320 he said that he would likely keep j. Powell in 0:15:53.400 --> 0:15:56.080 his position as chairman for the rest of his term. 0:15:56.640 --> 0:15:58.480 There are a lot of questions about whether he would 0:15:58.520 --> 0:16:02.400 try to pressure Power out if he got elected in November. 0:16:02.440 --> 0:16:05.760 So that was another interesting development. If you look at 0:16:05.800 --> 0:16:11.000 the foreign policy side, he reiterated his interest in maintaining 0:16:11.120 --> 0:16:14.120 or raising tariffs on a whole range of imported goods. 0:16:14.520 --> 0:16:18.200 He signaled that he's not really inclined to support Taiwan 0:16:19.000 --> 0:16:21.720 or doesn't feel obligated to support Taiwan if there's a 0:16:21.760 --> 0:16:25.520 conflict with China. So across the board, I think a 0:16:25.560 --> 0:16:29.640 lot of interesting signals on economic policy and for American 0:16:29.680 --> 0:16:31.000 allies and rivals abroad. 0:16:31.320 --> 0:16:34.200 This is Bloomberg day Break Today, your morning brief on 0:16:34.280 --> 0:16:37.920 the story's making news from Wall Street to Washington and beyond. 0:16:38.080 --> 0:16:40.880 Look for us on your podcast feed at six am 0:16:40.960 --> 0:16:44.600 Eastern each morning, on Apple, Spotify, and anywhere else you 0:16:44.680 --> 0:16:45.840 get your podcasts. 0:16:45.960 --> 0:16:48.680 You can also listen live each morning starting at five 0:16:48.720 --> 0:16:51.360 am Wall Street time on Bloomberg eleven three to zero 0:16:51.360 --> 0:16:54.240 in New York, Bloomberg ninety nine to one in Washington, 0:16:54.320 --> 0:16:57.520 Bloomberg one six to one in Boston, and Bloomberg ninety 0:16:57.520 --> 0:16:58.920 sixty in San Francisco. 0:16:59.280 --> 0:17:02.480 Our flagship New York station is also available on your 0:17:02.520 --> 0:17:07.960 Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty plus. 0:17:08.000 --> 0:17:11.439 Listen coast to coast on the Bloomberg Business app, SERIUSXM, 0:17:11.520 --> 0:17:14.600 the iHeartRadio app, and on Bloomberg dot Com. 0:17:14.640 --> 0:17:16.720 I'm Nathanhager and I'm Karen Moscow. 0:17:16.920 --> 0:17:19.679 Join us again tomorrow morning for all the news you 0:17:19.800 --> 0:17:23.040 need to start your day right here on Bloomberg Daybreak