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Speaker 1: News when you wanted with Bloomberg News Now, I med Keleggy,

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Speaker 1: President of Like. Donald Trump's team stood by Pete Hegseth,

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Speaker 1: his nominee four Defense secretary, after media reports that police

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Speaker 1: investigated a sexual assault claim against him and that his

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Speaker 1: tattoos raised concern by a fellow army member. Stephen Chung,

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Speaker 1: Trump's communication director said in a statement, mister Hegseith has

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Speaker 1: vigorously denied any at all accusations and no charges were filed.

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Speaker 1: The Washington Post reported Friday that Hegseth was investigated by

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Speaker 1: police in California following an allegation that he sexually assaulted

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Speaker 1: a woman in twenty seventeen, and that Trump's transition team

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Speaker 1: is weighing his future in light of the revelations. The

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Speaker 1: Post report cited a person familiar with the complaint, without

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Speaker 1: identifying them. Monterey Police said they investigated Hegseth, an Army

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Speaker 1: veteran and Fox News host, and that the incident did

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Speaker 1: not result in criminal charges. The Post quoted Tim Parlatour,

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Speaker 1: an attorney for Hegseeth, as saying that the assault allegation

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Speaker 1: was fully invent, destigated, and found not to be true.

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Speaker 1: President elect Trump filled more cabinet positions Friday North Dakota

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Speaker 1: Governor Doug Bergham for Interior Secretary, Stephen Chung for White

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Speaker 1: House Communications Director, Caroline Levitt for White House Press Secretary,

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Speaker 1: and Todd Blanche for Deputy Attorney General. President elect Trump

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Speaker 1: is still weighing candidates for Treasury Secretary. The list includes

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Speaker 1: Key Square Group founder Scott Bessant, Canter Fitzgerald CEO, Howard Lutnik,

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Speaker 1: and Robert Leiteizer, Trump's first term trade advisor. This according

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Speaker 1: to sources, Bloomberg's Selia Mosen says, it appears the President

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Speaker 1: elect is leaning towards a Wall Street friendly pick.

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Speaker 2: It does seem like Trump wants to pick someone with

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Speaker 2: Wall Street pedigree, which is what he did in his

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Speaker 2: first term. He has Steven Mnusian, who came from Goldman Sachs,

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Speaker 2: a Hollywood financier, an interesting background there and had known

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Speaker 2: Trump for many, many years, and he was someone that

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Speaker 2: he had a long term relationship with and saw him

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Speaker 2: as someone who would implement his policies.

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Speaker 1: Salaja Mosen, speaking Withlomberg's Kelly Lines. Larry Kudlow, Trump's former

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Speaker 1: National Economic Council director, who was in the Mix for

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Speaker 1: a senior economic policy job, informed the President elect's team

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Speaker 1: that he does not want a role. Republican Speaker of

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Speaker 1: the House Mike Johnson is urging the House Ethics Committee

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Speaker 1: to keep secret AIDS findings on alleged sexual and other

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Speaker 1: misconduct by former House Member Matt Gates. President elect Trump's

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Speaker 1: choice for Attorney General, Bloomberg Scott Carr has.

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Speaker 3: More even some members of Trump's own party have been

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Speaker 3: wary of approving Gates as the nation's chief law enforcement officer.

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Speaker 3: Senators from both sides of the aisle continued to press

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Speaker 3: for the results of the investigation by a House Ethics

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Speaker 3: panel into the allegations that Gates engaged in sexual misconduct,

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Speaker 3: took illicit drugs, and accepted improper gifts to be released,

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Speaker 3: at least to them prior to any Senate confirmation hearings.

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Speaker 3: Speaker Johnson says giving in to calls to release the

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Speaker 3: report would open a Pandora's box, setting a precedent for

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Speaker 3: disclosing potentially derogatory information on former members of Congress. Gates

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Speaker 3: has denied the allegations. In Washington, Scott car Bloomberg, Radio.

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Speaker 1: Democrat Jared Golden won reelection in Maine second Congressional district.

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Speaker 1: According to the Associated Press, Golden defeated Republican Austin Terrio,

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Speaker 1: a state lawmaker and former NASCAR driver. Golden has held

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Speaker 1: the seat since twenty nineteen. In addition, Democratic Representative Josh

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Speaker 1: hard won re election to a US House seat representing

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Speaker 1: California Friday, defeating Republican Kevin Lincoln. Harder, who had been

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Speaker 1: a venture capitalist, was first elected in twenty eighteen when

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Speaker 1: he defeated a four term GOP incumbent. As President Biden

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Speaker 1: meets with China's Xijin Ping, the prospect of a policy

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Speaker 1: reversal by the president elect looms large. Representative Ashley Hinted,

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Speaker 1: Republican from Iowa, is a member of both the Agriculture

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Speaker 1: Appropriation Subcommittee and the China Competition Committee. She said in

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Speaker 1: a Bloomberg interview that she favors a tougher policy towards China.

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Speaker 4: What we will see as president, she probably take a

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Speaker 4: little bit of a different posture. Now, who's coming in

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Speaker 4: next and he's seen this show before. He knows that

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Speaker 4: President Trump talks tough. We still need to be able

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Speaker 4: to sell our products to China. For every action that

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Speaker 4: we take. We know China is going to take some

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Speaker 4: sort of action to retaliate.

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Speaker 1: When President Trump levied tariffs on China in his first term,

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Speaker 1: China retaliated against American farm exports, leading to more US

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Speaker 1: government farm subsidy payments. Federal Reserve Bank of Chicago President

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Speaker 1: Austin Goulesby sees rates coming down in line with the

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Speaker 1: FEDS dot plot over the next year.

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Speaker 5: I still think we have a long way to go

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Speaker 5: down with raids. There's some dispute about what is the

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Speaker 5: neutral rate at which we're going to settle down. If

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Speaker 5: there's disagreement about that, that we don't just charge right

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Speaker 5: to it, that we slow the pace as we get

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Speaker 5: toward it.

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Speaker 1: Austin Golesby spoke with Bloomberg's Michael McKee on Bloomberg Business Sweek.

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Speaker 1: Goolsby added that interest rates remain restrictive, so there's still

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Speaker 1: room to cut borrowing costs to a more neutral level.

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Speaker 1: The country is producing millions of small, lightweight drones, but

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Speaker 1: Kiev has a limited budget to buy them. Above Ukraine,

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Speaker 1: a sky full of drones is changing the war. You

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Speaker 1: can read all about it in Bloomberg's weekend edition exploring

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Speaker 1: the places where finance, life and culture meets. Find it

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Speaker 1: now on Bloomberg dot com, in the Bloomberg Business App.

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Speaker 1: The Friday numbers on Wall Street, the Dow was down

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Speaker 1: three hundred and six, Nasdaq lost four one hundred and

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Speaker 1: twenty eight, and the S and P was down seventy nine.

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Speaker 1: That's news when you want it with Bloomberg News Now.

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Speaker 1: I met Kleggi, and this is Bloomberg