WEBVTT - Rate Debate Heats Up as Fed Meeting Begins; Intel to Make AI Chip for Amazon

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<v Speaker 1>Karen, we begin with the most highly anticipated FED meeting

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<v Speaker 1>in years. Policymakers begin their two day session today with

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<v Speaker 1>a decision coming tomorrow. Central bankers have all been guaranteed

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<v Speaker 1>a first rate cut in more than four years, but

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<v Speaker 1>with just one day to go, markets are showing a

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<v Speaker 1>toss up between a quarter point or half point reduction.

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<v Speaker 1>Bill Dudley, former president of the New York Fed and

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<v Speaker 1>current Bloomberg opinion columnist, is calling for fifty.

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<v Speaker 2>Doing twenty five would have been awkward because it would

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<v Speaker 2>have disappointed market expectations. They probably would have shown only

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<v Speaker 2>another fifty basis points in their summary wreck and out projections,

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<v Speaker 2>so that they would be essentially saying we're goingly going

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<v Speaker 2>to do seventy five basis points this year when the

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<v Speaker 2>market was priced for about one hundred and twenty. So

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<v Speaker 2>I think doing fifty brings the Fed more in alignment

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<v Speaker 2>with the market, and it also fits the logic of

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<v Speaker 2>the moment.

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<v Speaker 1>Former New York Fed President Bill Dudley thinks inflation will

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<v Speaker 1>get back to near two percent.

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<v Speaker 3>Well, Nathan. Whatever the fedish sides, a rate cut could

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<v Speaker 3>be good news for investors. According to a Bloomberg News

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<v Speaker 3>No analysis of the past six FED using cycles going

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<v Speaker 3>back to nineteen eighty nine, the S and P five

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<v Speaker 3>hundred index treasuries and gold have typically risen as the

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<v Speaker 3>FED starts lowering rates. In the equity market, the SNP

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<v Speaker 3>is rallied by an average thirteen percent in the six

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<v Speaker 3>months after the Central Bank started cutting, except during the

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<v Speaker 3>recessionary years of two thousand and one and two thousand

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<v Speaker 3>and seven.

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<v Speaker 4>Karen.

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<v Speaker 1>Several tech stocks are in the news this morning. Shares

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<v Speaker 1>of Intel are jumping close to seven percent. Bloomberg's John

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<v Speaker 1>Tucker's following this, John, looks like Intel's landed a new customer.

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<v Speaker 5>Not just any customer, Nathan, It's Amazon. Amazon's AWS is

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<v Speaker 5>going to be a customer for Intel's manufacturing business. Intel

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<v Speaker 5>and AWS will coinvest in a fabric chip that's a

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<v Speaker 5>custom semiconductor for artificial intelligence computing. And now this potentially

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<v Speaker 5>brings work to new Intel plants under construction of the

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<v Speaker 5>US and both CEO Pat Gelsinger's efforts to turn around

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<v Speaker 5>the imbattled chip maker. Intel has been facing some pretty

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<v Speaker 5>tough times recently. They announced plans last month year recall

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<v Speaker 5>to slash fifteen thousand workers find ten billion dollars in

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<v Speaker 5>cost savings and also suspend their dividend. Well, Amazon Web

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<v Speaker 5>Services is the largest provider of cloud computing, and it

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<v Speaker 5>could help build confidence that Intel can compete. In another win,

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<v Speaker 5>Intel said that it's eligible to receive as much as

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<v Speaker 5>three billion dollars in US government funding to manufacture chips

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<v Speaker 5>for the military. Intel still has a pretty long way

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<v Speaker 5>to go to win back Wall Street's full confidence after

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<v Speaker 5>years of losing ground to rivals and seeing its technological

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<v Speaker 5>edge slip away. These Silicon Valley pioneers valued at less

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<v Speaker 5>than ninety billion dollars in New York. I'm John Tucker,

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<v Speaker 5>Bloomberg Radio.

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<v Speaker 3>All right, John, thank you well. Amazon CEO Andy Jassey

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<v Speaker 3>is ordering the e commerce companies employees to return to

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<v Speaker 3>working in the office five days a week beginning in January.

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<v Speaker 3>We get that story from Bloomberg Sturley Pellett.

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<v Speaker 4>Previously, Amazon could require employees to badge in at least

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<v Speaker 4>three days, depending on the requirements of their team. In

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<v Speaker 4>an ode to employees, Chassis said N's return to office

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<v Speaker 4>plans will make exceptions for extenuating circumstances or cases where

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<v Speaker 4>managers had already approved a fully remote position. Chassis also

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<v Speaker 4>taking aim at bureaucracy and layers of management. After Amazon

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<v Speaker 4>ballooned in size during the last decade. In New York,

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<v Speaker 4>Charlie Pellett Bloomberg Radio.

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<v Speaker 1>Thanks Charlie and sticking with big tech. Shares of Microsoft

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<v Speaker 1>up about one and a half percent. The software giant

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<v Speaker 1>unveiled the new sixty billion dollar stock buyback program. We

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<v Speaker 1>get the details from Bloomberg's Doug Prisner.

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<v Speaker 6>The plan has no expiration date and it replaces a

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<v Speaker 6>sixty billion dollar buyback program announced in twenty twenty one.

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<v Speaker 6>Microsoft also raised its quarterly dividend by ten percent. Now,

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<v Speaker 6>in recent years, Microsoft has benefited from market exuberants for

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<v Speaker 6>artificial intelligence. The software maker has infused its product line

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<v Speaker 6>with AI technology from partner OpenAI, and Microsoft has touted

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<v Speaker 6>the tool's ability to all augmented its business applications such

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<v Speaker 6>as Teams, Word and Outlook. Early on Monday, Microsoft released

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<v Speaker 6>a new range of AI tools in New York. I'm

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<v Speaker 6>Doug Prisoner, Bloomberg Radio.

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<v Speaker 3>All right, Doug, thank you. Now to the latest on

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<v Speaker 3>the presidential race and the apparent attempt on Donald Trump's life.

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<v Speaker 3>The former president talked about hearing shots ring out on

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<v Speaker 3>his golf course. During an X spaces event last night

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<v Speaker 3>promoting a crypto venture, I.

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<v Speaker 7>Was with an agent and the agent did a fantastic job.

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<v Speaker 2>There was no question that we were off that course.

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<v Speaker 8>I would have loved to have sank that last put,

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<v Speaker 8>but we decided.

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<v Speaker 9>We get out of here.

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<v Speaker 3>And in an earlier interview with Fox News, Trump blamed

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<v Speaker 3>Vice President Kamala Harris's rhetoric for inflaming the would be gunman,

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<v Speaker 3>though he didn't provide evidence. Bloomberg's Bill Ferries has more

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<v Speaker 3>on what we do know about the suspect.

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<v Speaker 8>The fifty eight year old suspect, Ryan Ralth, may have been,

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<v Speaker 8>according to his cellular phone data, spending about twelve hours

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<v Speaker 8>in the area where he was with his rifle and

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<v Speaker 8>back pack, waiting for the president a former president, to

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<v Speaker 8>show up. This is all according to the FBI and

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<v Speaker 8>police investigation.

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<v Speaker 3>Bloomberg's Bill Ferries reports. Ryan Routh is charged with two

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<v Speaker 3>firearm counts, including possession by a convicted felon. Meanwhile, the

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<v Speaker 3>latest USA Today Suffolk University poll shows Kamala Harris ahead

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<v Speaker 3>of Trump in Pennsylvania by three percentage points. That's within

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<v Speaker 3>the poll's four point four percent margin of error. The

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<v Speaker 3>survey was taken after last week's debate in Philadelphia.

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<v Speaker 1>I want to turn out to the Middle East, Karen

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<v Speaker 1>for our exclusive interview with Iraq's Prime Minister Mohammad Shia

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<v Speaker 1>al Sudani. He sat down with Bloomberg's Jumani Persecci in Baghdad.

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<v Speaker 1>It's older he plans to announce a timetable for the

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<v Speaker 1>withdrawal of US troops from his country. Speaking through an interpreter,

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<v Speaker 1>the Prime minister also commented on the upcoming US presidential election.

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<v Speaker 10>Of course, we respect the choice of the American people

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<v Speaker 10>according to the democratic process. We will deal with any

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<v Speaker 10>administration that gains confidence love. It's of interest to us

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<v Speaker 10>to activate the strategic fore work that was signed in

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<v Speaker 10>two thousand and eight and building a relationship based on

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<v Speaker 10>these principles of mutual interests and respecting Iraqi savaranty.

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<v Speaker 1>Iraq's Prime Minister Mohammad Shia Alsudani speaking with Bloomberg's Jumana Borsecci.

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<v Speaker 11>Stick with us.

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<v Speaker 1>We're going to bring you more of that exclusive conversation

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<v Speaker 1>in a few minutes.

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<v Speaker 3>And Nathan, another news this morning. For the six year

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<v Speaker 3>in a row, Stanford has topped a Bloomberg BusinessWeek's rankings

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<v Speaker 3>of best business schools in the country. The university maintains

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<v Speaker 3>strong scores, and four of the five areas we index compensation, learning, networking,

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<v Speaker 3>and entrepreneurship running out the top five Chicago's Booth School,

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<v Speaker 3>northwesterns Kellogg, Dartmouth's Talk, and Virginia's Dardin time now for

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<v Speaker 3>a look at some of the other stories making news

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<v Speaker 3>in New York and around the world. And for that

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<v Speaker 3>we're joined by Bloomberg's Michael Barr Michael good Morning, Good.

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<v Speaker 11>Morning, Karen, hip Hop mogul Sean Diddy Combs was arrested

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<v Speaker 11>late last night in New York, where he faces a

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<v Speaker 11>sealed criminal indictment. Combs has faced stream of allegations by

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<v Speaker 11>women in recent months who accused him of sexual assault.

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<v Speaker 11>The charges come from an investigation of Combs that was

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<v Speaker 11>revealed when Homeland Security agents raided his homes in Los

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<v Speaker 11>Angeles and Miami in March. Combs's lawyer called the prosecution unfair. Springfield, Ohio,

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<v Speaker 11>is in the spotlight and the race for the White House.

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<v Speaker 11>It started after former President Donald Trump repeated rumors during

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<v Speaker 11>the presidential debate last week about the Haitian immigrants legally

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<v Speaker 11>living in the city are eating people's pets. Since then, businesses, schools,

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<v Speaker 11>and college campuses have closed down after threats were made.

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<v Speaker 11>Ohio Governor Mike de Wine.

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<v Speaker 6>We've taken action in regard to cameras.

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<v Speaker 2>We have taken action into putting a large number of

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<v Speaker 2>numbers of highway patrol here.

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<v Speaker 11>Governor DeWine also says schools in Springfield we'll have more

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<v Speaker 11>police officers beginning today. Meanwhile, in a new twist, the

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<v Speaker 11>Trump campaign says the former press and has offered a

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<v Speaker 11>campaign there. A Coast Guard hearing is underway and South

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<v Speaker 11>Carolina focused on last year's deadly voyage by the ocean

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<v Speaker 11>Gate submersible to visit the Titanic. All five on board

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<v Speaker 11>were killed when it imploded. In testimony, ocean Gate's former

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<v Speaker 11>engineering director Tony Nissen told the Coastguard panel he was

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<v Speaker 11>fired because he did not approve of Titan traveling to

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<v Speaker 11>the Titanic, and said there were warning signs in early tests.

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<v Speaker 2>We hadn't early gone deep enough long enough, and we

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<v Speaker 2>were reflecting a thirty seven percent more so, it was

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<v Speaker 2>the first warning.

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<v Speaker 11>Officials revealing one of the last messages from Titan to

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<v Speaker 11>its support ship was all good here, officials say. A

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<v Speaker 11>massive pipeline fire that has burned for hours near Houston

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<v Speaker 11>began after a vehicle struck in above ground valve after

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<v Speaker 11>driving through a fence. Officials in deer Park said that

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<v Speaker 11>police and local FBI agents I found no evidence of

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<v Speaker 11>terroristic activity. The investigation includes an effort to identify the

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<v Speaker 11>driver operator. Central Point Energy shut off the flow of

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<v Speaker 11>natural gas liquids in the pipeline, but Deer Park Mayor

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<v Speaker 11>Jerry Mouton says the line is still burning.

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<v Speaker 7>The fire is it's very hot, so a lot of

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<v Speaker 7>the house structures that are adjacent to that are still

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<v Speaker 7>catching on fire, even though we're putting a lot of

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<v Speaker 7>water on them to try to control that.

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<v Speaker 11>Mayor Muton says the fire could burn off. Today Global

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<v Speaker 11>News twenty four hours a day and whenever you want

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<v Speaker 11>it with Bloomberg News Now. I'm Michael Barn. This is Bloomberg.

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<v Speaker 12>Karen.

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<v Speaker 3>All right, Michael Barr, thank you time now for the

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<v Speaker 3>Bloomberg Sports Update with John stash Hour.

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<v Speaker 13>John, good morning, Good morning, Karen, Good day and night

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<v Speaker 13>for the Mets. First, they got encouraging news on franciscild

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<v Speaker 13>Indoor's back injury. Then they hosted Washington looking to end

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<v Speaker 13>their first two game losing streactions mid August. Mets one

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<v Speaker 13>two to one shut out until the eighth inning they

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<v Speaker 13>wanted on a Starling Marte hit in the tenth. Sean

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<v Speaker 13>and I and three relievers together allowed only five hits,

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<v Speaker 13>one walk, ten strikeouts. As for the Lindor, who had

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<v Speaker 13>not missed the game all season, he was not able

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<v Speaker 13>to play a full game in any of the three

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<v Speaker 13>this past weekend, but the MRI was cleaned.

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<v Speaker 9>I'm great. I still have a little bit of pain,

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<v Speaker 9>but we had good use. Everything seems like it's good.

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<v Speaker 9>You know, he could be.

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<v Speaker 4>Three to five days or it could be two to three.

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<v Speaker 9>Depends on how my back reacts the training. They have

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<v Speaker 9>an amazing game plan and then he's gonna be up

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<v Speaker 9>to Mendy and if I feel okay to play.

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<v Speaker 13>The Mets also got good news in other games. Atlanta

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<v Speaker 13>lost the Dodgers nine and other in La scored nine

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<v Speaker 13>runs on four hits. In Arizona lost in the bottom

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<v Speaker 13>of the ninth Tenny of Colorado three to two. The

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<v Speaker 13>Mets leave the praise for the third NL Wildcard by

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<v Speaker 13>one game. They're one behind the d Backs for the

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<v Speaker 13>second wildcard good Monday Night at Falcons and Eagles in Philly.

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<v Speaker 13>Six lead changes, The last one came of the fun

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<v Speaker 13>Donald a minute a Kirk Cousin's touchdown pass to Drake

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<v Speaker 13>London Atlanta one twenty two to twenty one. Both teams

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<v Speaker 13>are one and one. The Giants are zero to two

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<v Speaker 13>for the ninth time in the last twelve years, and

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<v Speaker 13>they'll be without their kicker for a few weeks. Draham

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<v Speaker 13>Jenew heard his hamstring in Sunday's opening kickoff. The Jets

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<v Speaker 13>have lost Jermaine Johnson for the season torn achilles, so

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<v Speaker 13>down a defensive lineman. Will that lead to signing ha

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<v Speaker 13>Son Redick, who remains in a contract hold out. The

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<v Speaker 13>Jets have a second straight short work week. They host

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<v Speaker 13>the Patriots Thursday, quarterback change at Carolina. The veteran Andy

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<v Speaker 13>Dalton will start Sunday against Las Vegas. The struggling Panthers

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<v Speaker 13>have bench Bryce Young, who they took with the first

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<v Speaker 13>overall pick of the twenty twenty three draft. John stanshantw're

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<v Speaker 13>Bloomberg Sports, Candon.

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<v Speaker 12>Athor Coast to Coast on Bloomberg Radio Nationwide on Sirius

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<v Speaker 12>XM and around the world on Bloomberg dot Com and

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<v Speaker 12>the Bloomberg Business app. This is Bloomberg Daybreak.

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<v Speaker 1>Good morning, I'm Nathan Hager, turning now to a Bloomberg

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<v Speaker 1>News exclusive our interview with Iraq's Prime Minister Mohammad Shia

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<v Speaker 1>al Sudani. The Iraqi leader sat down with Bloomberg's Jumana

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<v Speaker 1>Bursechi in Baghdad. They discussed why he thinks US troops

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<v Speaker 1>are no longer needed in his country and how, in

0:12:12.080 --> 0:12:15.960
<v Speaker 1>his view, the US has largely succeeded in defeating Isis.

0:12:16.200 --> 0:12:19.360
<v Speaker 1>Alsudani also talked about the upcoming US election, as well

0:12:19.400 --> 0:12:22.840
<v Speaker 1>as a timeline for restarting a key oil pipeline to

0:12:22.920 --> 0:12:27.080
<v Speaker 1>help iraqet closer to its opek output quota. Iraqi Prime

0:12:27.080 --> 0:12:30.760
<v Speaker 1>Minister Mohammad Shia al Sudani spoke with Jumana through a translator.

0:12:30.840 --> 0:12:32.199
<v Speaker 1>Let's go to that discussion.

0:12:33.080 --> 0:12:38.640
<v Speaker 10>Bidet Hokuma ti vivaramamaj Hokumi. My government started a government

0:12:38.720 --> 0:12:41.599
<v Speaker 10>run program that was proposed to Parliament and put to

0:12:41.679 --> 0:12:45.640
<v Speaker 10>a vote after the Ministerial Cabinet presented it. This was

0:12:45.720 --> 0:12:51.000
<v Speaker 10>according to the constitutional measures part of the ministerial program

0:12:51.480 --> 0:12:54.960
<v Speaker 10>was ending the coalition's mission after the justifications for its

0:12:55.040 --> 0:13:00.240
<v Speaker 10>presence had ended. Today, Iraq in twenty twenty four is

0:13:00.320 --> 0:13:04.559
<v Speaker 10>not the same as Iraq of twenty fourteen. We have

0:13:04.679 --> 0:13:09.040
<v Speaker 10>defeated DYSH with our sacrifices in the Iraqi people's position,

0:13:09.679 --> 0:13:12.719
<v Speaker 10>from all of its components and factions, and with the

0:13:12.760 --> 0:13:16.439
<v Speaker 10>support of the international community and friends, and we do

0:13:16.600 --> 0:13:22.520
<v Speaker 10>appreciate that we found that the justifications ended and there

0:13:22.600 --> 0:13:25.280
<v Speaker 10>is no longer a need for a coalition of eighty

0:13:25.360 --> 0:13:29.000
<v Speaker 10>six countries. We moved from a period of wars to

0:13:29.120 --> 0:13:33.439
<v Speaker 10>a period of stability. DYSH doesn't pose a threat to

0:13:33.559 --> 0:13:36.840
<v Speaker 10>the state. They may be part of the security challenges

0:13:37.280 --> 0:13:40.720
<v Speaker 10>like drug trade and criminal offenses. It's at that level.

0:13:41.280 --> 0:13:44.840
<v Speaker 10>It's not equal to DYISH now a group of terrified

0:13:44.920 --> 0:13:48.160
<v Speaker 10>people hiding in caves in the desert in the mountains,

0:13:48.520 --> 0:13:53.120
<v Speaker 10>and the real threat to security and stability. Based on

0:13:53.240 --> 0:13:57.240
<v Speaker 10>this vision and evaluation, we initiated a conversation with our

0:13:57.280 --> 0:14:01.439
<v Speaker 10>friends in the International Coalition and it was honest and

0:14:01.559 --> 0:14:05.640
<v Speaker 10>included more discussions on various levels, and was culminated with

0:14:05.800 --> 0:14:09.320
<v Speaker 10>my visit to Washington, d C. And talking to President Biden.

0:14:11.080 --> 0:14:13.800
<v Speaker 10>We formed a joint committee in August of twenty twenty

0:14:13.840 --> 0:14:17.920
<v Speaker 10>three between military commanders to start the conversation, and in

0:14:18.040 --> 0:14:22.400
<v Speaker 10>fact the committee reached an understanding to arrange for that withdrawal.

0:14:23.960 --> 0:14:27.240
<v Speaker 10>It was hoped that the conclusion would be announced, but

0:14:27.400 --> 0:14:30.280
<v Speaker 10>out of our keenness not to mix things or create

0:14:30.320 --> 0:14:34.280
<v Speaker 10>a misunderstanding about the end of the coalition's mission, the

0:14:34.400 --> 0:14:37.320
<v Speaker 10>desire was to postpone the announcement and we hope to

0:14:37.400 --> 0:14:40.200
<v Speaker 10>announce it soon and we will take part in an

0:14:40.240 --> 0:14:45.720
<v Speaker 10>international conference for the Coalition against dish or terrorism and

0:14:45.800 --> 0:14:48.920
<v Speaker 10>Iraq is a genuine member that lead the ranks.

0:14:48.640 --> 0:14:49.680
<v Speaker 4>To face terrorism.

0:14:51.240 --> 0:14:54.280
<v Speaker 10>Ending the coalition's mission and this is an important point,

0:14:55.080 --> 0:14:59.200
<v Speaker 10>does not mean a breakdown between Iraq and the coalition countries,

0:14:59.480 --> 0:15:03.640
<v Speaker 10>including the United States. On the contrary, at the same time,

0:15:04.240 --> 0:15:07.960
<v Speaker 10>we are in bilateral talks to build a sustainable security

0:15:08.040 --> 0:15:13.520
<v Speaker 10>relationship other than the economic, cultural, and scientific and social ties.

0:15:14.200 --> 0:15:16.480
<v Speaker 14>You say that ISIS is less of a threat, and

0:15:16.600 --> 0:15:19.440
<v Speaker 14>yet on Fridays, since common ounts that a raid was

0:15:19.480 --> 0:15:24.239
<v Speaker 14>conducted in western Iraq, US military alongside Iraqi security officials

0:15:24.720 --> 0:15:28.120
<v Speaker 14>killed some senior ISIS commanders. That tells me that the

0:15:28.240 --> 0:15:29.880
<v Speaker 14>ISIS threat is still there no.

0:15:32.840 --> 0:15:32.880
<v Speaker 2>No.

0:15:36.440 --> 0:15:40.000
<v Speaker 10>Of course, this was one of the quality operations that

0:15:40.200 --> 0:15:45.600
<v Speaker 10>was executed between security agencies and the international coalition. This

0:15:45.800 --> 0:15:48.920
<v Speaker 10>is proof La daesh Or. This is proof that the

0:15:49.000 --> 0:15:53.200
<v Speaker 10>security agencies have reached the phase of capability where they

0:15:53.280 --> 0:15:57.440
<v Speaker 10>started finding these people in caves, in mountains, in deserted

0:15:57.480 --> 0:16:00.880
<v Speaker 10>areas and killed them. This is proof of the level

0:16:01.000 --> 0:16:04.920
<v Speaker 10>of ability and capability that our security forces have reached.

0:16:05.440 --> 0:16:08.840
<v Speaker 10>Dyash today doesn't own a land or an area to

0:16:08.920 --> 0:16:12.080
<v Speaker 10>be in and has lost its incubator, and this is

0:16:12.120 --> 0:16:15.840
<v Speaker 10>the fundamental win achieved. Following up on the cells of

0:16:15.920 --> 0:16:19.120
<v Speaker 10>these individuals doesn't mean that there is a real threat.

0:16:19.720 --> 0:16:24.040
<v Speaker 10>When we used to talk about DYSHDYSH used to hold areas, villages,

0:16:24.520 --> 0:16:29.240
<v Speaker 10>and cities, and today Dash doesn't have this existence except

0:16:29.320 --> 0:16:32.280
<v Speaker 10>for these isolated groupings in deserted areas.

0:16:33.720 --> 0:16:37.160
<v Speaker 14>There's a US presidential election coming up very soon. What

0:16:37.240 --> 0:16:39.960
<v Speaker 14>would you like to see out of the next US president,

0:16:40.080 --> 0:16:41.920
<v Speaker 14>be it President Harris or President Trump.

0:16:46.760 --> 0:16:47.040
<v Speaker 11>Riki.

0:16:47.560 --> 0:16:50.200
<v Speaker 10>Of course, we respect the choice of the American people

0:16:50.400 --> 0:16:53.920
<v Speaker 10>according to the democratic process. We will deal with any

0:16:53.960 --> 0:16:57.920
<v Speaker 10>administration that gains confidence. It's of interest to us to

0:16:58.040 --> 0:17:00.800
<v Speaker 10>activate the strategic framework that was in two thousand and

0:17:00.840 --> 0:17:04.320
<v Speaker 10>eight and building of relationship based on these principles of

0:17:04.480 --> 0:17:07.359
<v Speaker 10>mutual interests and respecting Iraqi sovereignty.

0:17:07.480 --> 0:17:11.840
<v Speaker 14>President Trump has been historically very hawkish on Iran. Do

0:17:11.920 --> 0:17:14.159
<v Speaker 14>you worry that a return of President Trump could be

0:17:14.240 --> 0:17:16.080
<v Speaker 14>even more destabilizing for the region.

0:17:17.480 --> 0:17:23.280
<v Speaker 10>For our understanding of the situation of the relationship between

0:17:23.440 --> 0:17:28.040
<v Speaker 10>Iraq and Iran is based on mutual interests and mutual respect.

0:17:28.720 --> 0:17:31.840
<v Speaker 10>Iran is a neighboring country and we share one four

0:17:31.920 --> 0:17:34.920
<v Speaker 10>hundred kilometers and it's in our interest to have a

0:17:35.000 --> 0:17:39.240
<v Speaker 10>close relationship, especially that Iran has been supportive of the

0:17:39.320 --> 0:17:44.960
<v Speaker 10>political process and our efforts in combating terrorism. Of course,

0:17:45.160 --> 0:17:47.959
<v Speaker 10>Iraq is the only country in the region that has

0:17:48.000 --> 0:17:52.159
<v Speaker 10>a special relationship between Iran and the United States, and

0:17:52.320 --> 0:17:56.119
<v Speaker 10>we try through this positive characteristic to help in bringing

0:17:56.600 --> 0:18:01.080
<v Speaker 10>opinions closer. And we are interested to have stability in

0:18:01.200 --> 0:18:05.400
<v Speaker 10>the region away from the access policy. We don't want

0:18:05.480 --> 0:18:09.280
<v Speaker 10>the tense relationships and the stances of other countries of

0:18:09.400 --> 0:18:13.639
<v Speaker 10>the world to impact the Iraqi situation. This is our

0:18:13.760 --> 0:18:19.320
<v Speaker 10>diplomatic effort and movements in terms of our bilateral and regional.

0:18:19.040 --> 0:18:22.160
<v Speaker 1>Ties, and that was the Prime Minister of Iraq Mohammad

0:18:22.200 --> 0:18:25.240
<v Speaker 1>Shia al Sudani speaking through an interpreter there with Bloomberg's

0:18:25.320 --> 0:18:28.600
<v Speaker 1>Jumana Bursechi. You can catch their full conversation on the

0:18:28.640 --> 0:18:32.120
<v Speaker 1>Bloomberg Talks podcast. Subscribe to download all of our high

0:18:32.200 --> 0:18:36.560
<v Speaker 1>profile discussions anywhere you get your podcasts. And Jumana is

0:18:36.640 --> 0:18:39.919
<v Speaker 1>here with us now for more on this very important interview. Jumana,

0:18:39.960 --> 0:18:43.200
<v Speaker 1>of course, the anchor of Bloomberg Horizons on Bloomberg Television,

0:18:43.760 --> 0:18:47.960
<v Speaker 1>joining us out of Dubai this morning. Jumana, congratulations on

0:18:48.160 --> 0:18:51.960
<v Speaker 1>this discussion. Really interesting to hear the Prime minister talk

0:18:52.080 --> 0:18:54.560
<v Speaker 1>about his country moving from a period of wars to

0:18:54.680 --> 0:18:58.040
<v Speaker 1>a period of stability. Walk us through your impressions of

0:18:58.160 --> 0:19:00.760
<v Speaker 1>this conversation that you had with the Prime Yeah.

0:19:00.800 --> 0:19:02.840
<v Speaker 14>So we had a half hour sit down with him

0:19:03.280 --> 0:19:05.639
<v Speaker 14>and we spoke about a broad array of different topics

0:19:05.680 --> 0:19:09.160
<v Speaker 14>as you can imagine, the ongoing war and Gaza regional geopolitics,

0:19:09.640 --> 0:19:12.720
<v Speaker 14>the threat of ISIS and also opek. So lots of

0:19:12.840 --> 0:19:15.320
<v Speaker 14>different topics were brought up. But I would say if

0:19:15.359 --> 0:19:19.160
<v Speaker 14>there was one headline or one major takeaway from that interview,

0:19:19.800 --> 0:19:22.080
<v Speaker 14>it was this one and he said, the Iraq of

0:19:22.119 --> 0:19:24.920
<v Speaker 14>twenty twenty four is not the same as the Iraq

0:19:24.960 --> 0:19:28.359
<v Speaker 14>of twenty fourteen. And specifically we talk about twenty fourteen

0:19:28.480 --> 0:19:32.240
<v Speaker 14>because that was when the US, alongside other coalition forces

0:19:32.760 --> 0:19:36.080
<v Speaker 14>returned back to Iraq to combat the threat of ISIS.

0:19:36.359 --> 0:19:39.440
<v Speaker 14>Now back in twenty fourteen, you may also remember that

0:19:39.560 --> 0:19:42.639
<v Speaker 14>at one point Isis took over about a third of

0:19:42.680 --> 0:19:45.320
<v Speaker 14>the land in Syria and Iraq. It was a real

0:19:45.720 --> 0:19:49.000
<v Speaker 14>and present, very present danger. What he's saying is you

0:19:49.080 --> 0:19:52.520
<v Speaker 14>fast forward a decade later, Isis, in their eyes, is

0:19:52.640 --> 0:19:55.679
<v Speaker 14>no longer a threat anymore. They say that DASH has

0:19:55.760 --> 0:19:59.840
<v Speaker 14>mostly been defeated. They're not the force that they once was,

0:20:00.119 --> 0:20:02.920
<v Speaker 14>and therefore there's less of a justification for the US

0:20:03.000 --> 0:20:06.000
<v Speaker 14>forces and coalition forces to still be present on the ground.

0:20:06.000 --> 0:20:09.520
<v Speaker 14>They're around twenty five hundred US troops and advisors still

0:20:09.560 --> 0:20:11.960
<v Speaker 14>stationed in Iraq, and he's saying that they want to

0:20:12.040 --> 0:20:17.280
<v Speaker 14>work towards a more bilateral relationship based on security and

0:20:17.400 --> 0:20:20.480
<v Speaker 14>diplomacy as opposed to having the US having an active

0:20:20.520 --> 0:20:22.960
<v Speaker 14>presence on the grounds. And he also hinted that an

0:20:23.000 --> 0:20:24.160
<v Speaker 14>announcement could be coming soon.

0:20:24.320 --> 0:20:26.760
<v Speaker 1>Yeah, of course, we heard you press the Prime Minister

0:20:26.960 --> 0:20:29.840
<v Speaker 1>on the attacks that ISIS has managed to carry out

0:20:29.960 --> 0:20:33.960
<v Speaker 1>despite the US troop presence there. What's your impression, Jumana,

0:20:34.119 --> 0:20:37.479
<v Speaker 1>of the stability of the al Sudani government given all

0:20:37.520 --> 0:20:40.399
<v Speaker 1>the instability we've seen since the overthrow of Saddam Hussein.

0:20:40.600 --> 0:20:43.800
<v Speaker 14>Yeah, it's a really important question because when you think

0:20:43.840 --> 0:20:46.880
<v Speaker 14>about Iraq today, I guess one of the first things

0:20:46.920 --> 0:20:49.520
<v Speaker 14>people think of is the threat of ISIS, and he

0:20:49.720 --> 0:20:52.879
<v Speaker 14>is right, and that the ongoing threat is less and

0:20:52.960 --> 0:20:54.800
<v Speaker 14>less that it used to be. Nowadays you just have

0:20:55.280 --> 0:20:58.040
<v Speaker 14>the odds ISIS commander hiding in a cave. They don't

0:20:58.080 --> 0:21:01.520
<v Speaker 14>have incubators, they don't have control roll over cities or towns,

0:21:01.560 --> 0:21:04.119
<v Speaker 14>so very different from what it once was. But what

0:21:04.320 --> 0:21:07.440
<v Speaker 14>has happened in the last couple of years is what

0:21:07.640 --> 0:21:12.760
<v Speaker 14>we are saying is increasing penetration from Iranian affiliated political

0:21:12.800 --> 0:21:17.600
<v Speaker 14>groups into mainstream political parties, and so the Sudani government

0:21:17.720 --> 0:21:21.000
<v Speaker 14>is actually held up by a majority of these Shia

0:21:21.160 --> 0:21:23.920
<v Speaker 14>political parties. And of course Iran and Iraq historically have

0:21:24.040 --> 0:21:26.439
<v Speaker 14>very close religious relations as well. You have to remember

0:21:26.520 --> 0:21:29.920
<v Speaker 14>that some of the key Shia Muslim shrines are also

0:21:30.680 --> 0:21:33.760
<v Speaker 14>in Iraq, so they have these close historical religious ties.

0:21:33.800 --> 0:21:36.520
<v Speaker 14>But increasingly that Iran has had more of a political

0:21:36.560 --> 0:21:38.720
<v Speaker 14>presence within Iraq, and that is one of the concerns here,

0:21:38.840 --> 0:21:41.919
<v Speaker 14>and that if we are talking about broader regional tension,

0:21:42.920 --> 0:21:45.400
<v Speaker 14>the axis of resistance, so to speak. At some point

0:21:45.480 --> 0:21:47.680
<v Speaker 14>in the interview you may have noticed he said, we

0:21:47.800 --> 0:21:50.200
<v Speaker 14>don't want to be a part of any particular axis.

0:21:50.359 --> 0:21:53.360
<v Speaker 14>We see ourselves as a mediator and somebody who has

0:21:53.400 --> 0:21:55.000
<v Speaker 14>relations with both Iran and the US.

0:21:55.560 --> 0:21:58.840
<v Speaker 1>Just thirty seconds left Jumana. But could Iraq's relationship with

0:21:58.960 --> 0:22:02.360
<v Speaker 1>Iran pose risk for the US in the years to come.

0:22:02.960 --> 0:22:04.879
<v Speaker 14>I think it is a concern, and I think what

0:22:05.040 --> 0:22:08.680
<v Speaker 14>El Sudania is trying to do is to distinguish himself

0:22:08.760 --> 0:22:12.760
<v Speaker 14>from those paramilitary troops that are operating within Iraq. But

0:22:12.840 --> 0:22:15.320
<v Speaker 14>the big challenge for his government is to be able

0:22:15.440 --> 0:22:19.160
<v Speaker 14>to reaffirm state control over some of these paramilitary organizations,

0:22:19.240 --> 0:22:21.080
<v Speaker 14>and that will be the challenge in years to come.