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Speaker 1: News when you want it. With Bloomberg News Now I'm

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Speaker 1: Doug Prisoner. We begin in Texas, where the State House

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Speaker 1: of Representatives gave preliminary approval to a new state congressional

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Speaker 1: map backed by President Trump. This CAP's a week's long

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Speaker 1: political standoff, and it now sets the stage for a

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Speaker 1: final vote. State Representative Jen Wu is vowing to keep fighting.

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Speaker 2: This is far from over. In my heart, I know

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Speaker 2: the American people will win and we will see a

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Speaker 2: bright day again.

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Speaker 1: That is Texas State Representative Gene Wu speaking there now.

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Speaker 1: Democrats delay the vote for two weeks by fleeing the state. However,

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Speaker 1: they were brought back under police escort, and now Democrats

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Speaker 1: are planning to battle the new map in court once

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Speaker 1: Republican Governor Greg Abbott signs it into law. This new

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Speaker 1: map may add five GOP seats in next year's midterm elections.

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Speaker 1: President Trump is calling on Fed Governor Lisa Cook to

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Speaker 1: resign over accusations from a Trump ally of mortgage fraud.

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Speaker 1: More from Bloomberg's Denise Pellegrini.

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Speaker 3: Federal Housing Finance Agency Director Bill Poulties suggests Cook may

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Speaker 3: have committed a criminal offense by falsifying bank documents and

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Speaker 3: property records to acquire more favorable loan terms. In a

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Speaker 3: letter seen by Bloomberg, he alleges Cook signed a mortgage

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Speaker 3: agreement for a property in Michigan, claiming it would be

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Speaker 3: her primary residence for at least a year, and then

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Speaker 3: two weeks later claimed the same thing on a residence

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Speaker 3: in Georgia. Pulty's effort comes as President Trump and Paulty

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Speaker 3: press the FED to lower interest rates and FED chair

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Speaker 3: J Powell to resign before his term as chair expires

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Speaker 3: in May. Cook was nominated by President Biden. She became

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Speaker 3: the first black woman to serve on the Board of

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Speaker 3: Governor's Her term expires in twenty thirty eight. Denise Pelgritty

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Speaker 3: Bloomberg Radio.

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Speaker 1: Later in the day, Cook issued a statement saying she

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Speaker 1: had no intention of being bullied to step down, and

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Speaker 1: she said that she intends to take questions about her

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Speaker 1: financial history seriously and gather accurate information to answer legitimate

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Speaker 1: questions and provide facts. Minutes of the last FED meeting

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Speaker 1: show committee members saw upside risks to inflation when they

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Speaker 1: met last month, and they viewed that risk as being

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Speaker 1: greater than the concern over a weaker labor market. Here

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Speaker 1: is Bloomberg US economist Stuart Paul.

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Speaker 4: As we read through the minutes, and as we think

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Speaker 4: about the data that we have seen, everything basically points

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Speaker 4: to an incremental move toward monetary policy getting a little

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Speaker 4: bit less restrictive and a little bit of additional comfort

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Speaker 4: in the balance of risk shifting towards cooling employment. And

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Speaker 4: I think the Powell is going to need to acknowledge.

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Speaker 1: That that is Bloomberg economist Stuart Paul. There. Now, the

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Speaker 1: Fed did leave interest rates unchanged last month in a

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Speaker 1: range of four and a quarter to four and a

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Speaker 1: half percent, and shar Jay Powell said the central Bank

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Speaker 1: must guard against persistent inflation. Now, these minutes arrive ahead

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Speaker 1: of Powell's Jackson Hole speech that will happen on Friday,

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Speaker 1: and investors are expecting fresh signals on rate policy. President

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Speaker 1: Trump's decision to deploy federal law enforcement and the National

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Speaker 1: Guard to Washington, d C. Is drawing pushback. Critics are

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Speaker 1: calling it a political stunt. The White House says the

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Speaker 1: crackdown has netted more than five hundred arrest including gang members,

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Speaker 1: along with illegal firearms. Today, Vice President JD. Vance praised

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Speaker 1: the effort as a model for other cities. While demonstrators

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Speaker 1: protested outside Union Station.

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Speaker 5: I think that if we set a standard in Washington,

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Speaker 5: BC that political will power cans bring some common sense,

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Speaker 5: long order back to these communities, then maybe some other

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Speaker 5: communities and other cities will fall suit.

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Speaker 1: That is Vice President jd Vance there Now, a U

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Speaker 1: gov poll shows that forty seven percent of Americans disapprove

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Speaker 1: of the federal takeover of DC's policing, a move that

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Speaker 1: Trump administration has long contemplated. To Corporate News, next, Google

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Speaker 1: has unveiled a wave of new hardware technology. This includes

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Speaker 1: Google's Pixel ten smartphones, a new pay watch, and wireless earbuds.

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Speaker 1: All are deeply tied to Google's Gemini AI. Now these

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Speaker 1: new devices will run on Google's new Tensor G five chip.

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Speaker 1: We heard earlier from Rick Osterlow. He is Senior VP

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Speaker 1: of Platforms and Devices at Google.

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Speaker 6: A big focus of Tensor all along has been on

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Speaker 6: trying to run AI and we're trying to show what

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Speaker 6: AI on devices can do for the whole Android ecosystem.

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Speaker 6: And we're making an example with Tensor, but also working

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Speaker 6: with all of our other silicon partners like Media Tech

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Speaker 6: and Qualcomm and others.

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Speaker 1: That is Google's Rick Osterlow speaking earlier to Bloomberg at

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Speaker 1: the same time. Today, Google named NBA star Steph Curry

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Speaker 1: as the company's performance advisor for Google Health and fit

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Speaker 1: Bit wearable products. Shares in Google parent Alphabet today we're

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Speaker 1: down by more than one percent. And that is news

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Speaker 1: when you want it with Bloomberg News. Now, I'm Doug Krisner,

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Speaker 1: and this is Bloomberg