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Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.

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Speaker 2: Good morning.

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Speaker 1: I'm Nathan Hager and I'm Karen Moscow. Here are the

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Speaker 1: stories we're following today.

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Speaker 2: Karen, we begin with politics and the Trump transition. President

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Speaker 2: like Donald Trump is nominating Florida Representative Matt Gates to

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Speaker 2: be his Attorney general. We get more from Bloomberg's Doug Prisner.

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Speaker 3: The choice reflects Trump's aim to overhaul the justice departments

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Speaker 3: and carry out his agenda on immigration, crime, and social issues.

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Speaker 3: Gates has been a steady ally of Trump since he

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Speaker 3: left the White House. The Florida Republican representative is the

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Speaker 3: subject of a House inquiry into allegations of sexual misconduct.

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Speaker 3: He promptly resigned from Congress, effectively ending that investigation. Gates

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Speaker 3: has denied wrongdoing. When asked by reporters about the choice,

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Speaker 3: Senator John Corne of Texas said, I'm trying to absorb

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Speaker 3: all this. Another Republican, Lisa Murkowski of Alaska, said she

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Speaker 3: doesn't believe Gates is a serious candidate for the post.

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Speaker 3: In New York, I'm Doug Prisner, Bloomberg Radio.

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Speaker 1: All right, Doke, thank you all. Matt Gates's nomination maybe

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Speaker 1: overshadowing some of President elect Trump's other cabinet pigs. Telsea Gabber,

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Speaker 1: the former Democratic congressman from Hawaii turned Republican, is Trump's

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Speaker 1: pick to be Director of National Intelligence. Gabert is an

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Speaker 1: Iraq War veteran and has been skeptical of support for Ukraine,

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Speaker 1: but she does not have direct experience in the intelligence community,

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Speaker 1: and Trump has confirmed her name Florida Senator Marco Rubio

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Speaker 1: as his Secretary of State. Rubio is a longtime Shina critic,

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Speaker 1: and his call for bringing the Ukraine War to a

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Speaker 1: quick end well Karen.

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Speaker 2: Trump has yet to pick a nominee for Treasury Secretary,

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Speaker 2: but the Wall Street Journal is reporting Howard Lutnick wants

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Speaker 2: the job. The paper says the Cancer FitzGeralds CEO has

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Speaker 2: gone directly to the President elect about the position. Lutnick

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Speaker 2: was the co chair of Trump's transition team, Nathan.

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Speaker 1: President Elect Trump could have a much easier time enacting

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Speaker 1: his agenda with Republicans maintaining their hold the House majority.

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Speaker 1: The GOP secured the two hundred and eighteenth seat it

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Speaker 1: needed with a win in Arizona. Republican one Ciscomanni won

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Speaker 1: re election against the Democrat Kirsten Engele and the sixth

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Speaker 1: District forty nine point six percent to forty seven point

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Speaker 1: nine percent. Nine House races are still left to be decided,

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Speaker 1: but they won't be enough for Democrats to take over

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Speaker 1: the Chamber. And while a GOP majority in the Senate

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Speaker 1: is assured, at least one race there is headed for

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Speaker 1: a recount. The Associated Press has called the race in

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Speaker 1: Pennsylvania for Republican Dave McCormick. The Democratic can come and

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Speaker 1: Bob Casey is not conceded. McCormick leads the race by

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Speaker 1: four tenths of one percent. Anything below a half percent

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Speaker 1: triggers an automatic recount.

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Speaker 2: Well, all these latest developments care income as the president's elect,

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Speaker 2: Donald Trump and met with President Biden at the White House,

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Speaker 2: and they made a brief statement before reporters.

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Speaker 4: Looking forward to having likely said, it's both transition to everything.

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Speaker 4: We can make sure you're accommodator what you need. I'm

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Speaker 4: good chance to talk across on out today.

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Speaker 5: It's good, welcome, Thank you, Mary jay Man, thank you

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Speaker 5: very much. And politics is tough, and it's many cases

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Speaker 5: not a very nice world, but it is a nice

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Speaker 5: world today. And I appreciate very much a transition that's

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Speaker 5: so smooth. It'll be as smooth as.

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Speaker 6: You can get.

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Speaker 5: And I very much appreciate that you you are all.

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Speaker 2: The face to face meeting in the Oval Office was

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Speaker 2: preceded by President elect Trump appearing at an event in Washington,

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Speaker 2: where he told House Republicans it's quote nice to.

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Speaker 1: Win, well Nathan. Earlier this week, Trump tapped Elon Musk

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Speaker 1: to help had a new project to clear away government inefficiencies.

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Speaker 1: Critics say he's a conflict have Musk, who runs six companies,

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Speaker 1: including Tesla and SpaceX, to be involved in the administration.

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Speaker 1: Former Speaker of the House Kevin McCarthy disagrees.

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Speaker 7: Elon doesn't benefit from government. America has benefited from Elon,

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Speaker 7: and for Elon to sacrifice his time away from business

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Speaker 7: because he cares about a country that opened up those

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Speaker 7: arms that he immigrated to that we are so proud of,

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Speaker 7: doesn't matter where you stood in the political spectrum. But

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Speaker 7: when you watched in the middle of the campaign that

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Speaker 7: Elon sent a rocket to space reusable, came back and

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Speaker 7: grabbed it, and nobody else in the world can do it.

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Speaker 7: And that wasn't government, that was SpaceX so the people

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Speaker 7: who benefit is American from Elon, is not the other

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Speaker 7: way around.

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Speaker 1: Kevin McCarthy made the comments in an interview with Bloomberg

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Speaker 1: at the Barclays Asia Forum in Singapore.

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Speaker 2: Well care in some of the biggest beneficiaries of Trump's

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Speaker 2: wind have been bitcoin investors. The digital coin is holding

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Speaker 2: above ninety one thousand dollars this morning. Michael Novogratz is

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Speaker 2: the billionaire head of crypto investment firm Galaxy Digital.

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Speaker 8: We're seeing something globally. When Trump advocated in Nashville that

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Speaker 8: he was going to be a crypto president, a bitcoin president,

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Speaker 8: and now he's the president. Let me tell you, other

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Speaker 8: leaders heard that, and so I think we're strapping in

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Speaker 8: for what could be an amazing rally.

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Speaker 2: Michael novagrats of Galaxy Digital says there's a low likelihood

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Speaker 2: that the US would set up a bitcoin strategic reserve,

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Speaker 2: as Trump has proposed, but if one is established, novograt

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Speaker 2: says bitcoin could rise to five hundred thousand dollars.

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Speaker 1: Well, Nathan wall Straight aways another key reading on inflation.

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Speaker 1: Today we get producer prices for October at eight thirty

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Speaker 1: am Wall Street time. Yesterday, we heard the core consumer

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Speaker 1: price index increase three tenths of up percent for a

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Speaker 1: third month. In an interview with Bloomberg minutes after the

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Speaker 1: CPI release, Minneapolis Fed President Neil Kashkari said it would

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Speaker 1: take an upside surprise and inflation to derail the rate

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Speaker 1: cut path.

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Speaker 2: Right now, I think that inflation has had in the

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Speaker 2: right direction.

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Speaker 6: I've got confidence about.

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Speaker 1: That, but we need to wait.

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Speaker 6: We've got another month.

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Speaker 9: Or six weeks of data to analyze before we make

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Speaker 9: any decisions.

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Speaker 1: Minneapolis Fed President Neil Cashgary added it would be difficult

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Speaker 1: for the labor market to heat up substantially between now

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Speaker 1: and the December meeting. And a programming note, FED Chair

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Speaker 1: J Powell speaks in a conversation who stood by the

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Speaker 1: Dallas Fed Later today. You can hear those are marks

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Speaker 1: live at three pm Wall Street Time on Bloomberg Radio

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Speaker 1: and the Bloomberg Podcast page on YouTube Now.

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Speaker 2: Listen up if you're making your way into New York

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Speaker 2: City this morning. The plan to cut traffic by charging

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Speaker 2: drivers to enter Manhattan streets is back on track. Bloomberg's

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Speaker 2: John Tucker's here with more. John, what do we need

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Speaker 2: to know.

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Speaker 10: Well, Nathan, Governor Kathy Hochels said to announce details of

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Speaker 10: the revised congestion pricing plan today. It'll cost motorists nine

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Speaker 10: dollars instead of the originally planned fifteen to get into

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Speaker 10: the city below sixtieth Street. Now, Advocates in favor of

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Speaker 10: the controversial plan hope to see a take effect before

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Speaker 10: President like Trump can quash it. Opponents like Republican Congressman

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Speaker 10: Nicole Malatakis trying to block the governor's plan.

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Speaker 8: Look for every.

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Speaker 11: Legal and legislative avenue to stop congestion pricing. And we

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Speaker 11: think it's very cynical that she paused it just so

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Speaker 11: she could try to help the Democrats in an election,

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Speaker 11: and now has brought it back and is trying to

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Speaker 11: jam it through before President Trump takes office.

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Speaker 10: Now, Hokeel needs to act fast. The new plan requires

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Speaker 10: the federal government to approve the revised tooling structure and

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Speaker 10: also sign a value Pricing Pilot Program agreement. Donald Trump

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Speaker 10: said he'd terminate congestion pricing in his first week back

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Speaker 10: at the White House, New York. I'm John Tucker Bloomberg Radio.

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Speaker 1: And it's time now for a look at some of

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Speaker 1: the other stories making news in New York and around

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Speaker 1: the world. And for that rejoined by Bloomberg to Amy

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Speaker 1: Morris Amy, good morning.

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Speaker 12: Good morning Karen. An unprecedented shakeup at the Pentagon as

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Speaker 12: reportedly in the works. Reuters as reporting members of President

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Speaker 12: elect Trump's transition team are making a list of military

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Speaker 12: officers to be fired, with sources saying the shakeup could

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Speaker 12: include the Joint chiefs of Staff now. One of those

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Speaker 12: sources says the incoming administration will likely focus on military

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Speaker 12: officers those who were connected to Mark Milly, the former

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Speaker 12: chairman of the Joint Chiefs of Staff under Don Trump.

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Speaker 12: Former Secretary of State John Kerrey says the incoming Trump

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Speaker 12: administration can take advantage of the work that the Biden

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Speaker 12: administration has done regarding the conflict in the Middle East.

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Speaker 12: Carrie tells Bloomberg that a lot of the work was

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Speaker 12: already being done to bring Saudi Arabia to the table

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Speaker 12: to recognize Israel.

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Speaker 9: It depends hugely, if not entirely, on how you approach

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Speaker 9: the question of Gaza, how you begin to deal with

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Speaker 9: Palestinian future. And there's a lot to Nibilon, but it

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Speaker 9: is a table that has been said for negotiation.

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Speaker 12: Former Treasurer Secretary of State John Kerrey on the sideline

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Speaker 12: of the Barclays Asia Forum in Singapore. Israel's Special Envoy

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Speaker 12: for Climate Change and Sustainability says he hopes Donald Trump's

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Speaker 12: second term in office will lead to more cooperation on

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Speaker 12: climate issues. Bloomberg's Jomani Versecci sat down with Ambassador Gideon Behar.

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Speaker 13: There have so many challenges in the region that they

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Speaker 13: dissolved handling them met together like what skeat City, like

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Speaker 13: footsecre with the and more. And we hopefullyly that we

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Speaker 13: time will be able to move into more closure co.

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Speaker 10: Operation in the region.

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Speaker 12: Israel Special Envoy Ambassador Gideon Bahar, speaking with Bloomberg at

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Speaker 12: the Climate Change Summit in Azerbaijan. And we are expecting

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Speaker 12: today the annual update by the Climate Action Tracker, which

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Speaker 12: finds global warming projections for twenty one hundred have not

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Speaker 12: improved for the past three years. Bill hare is CEO

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Speaker 12: of Climate Analytics, one of the organizations behind the project.

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Speaker 6: This is something that governments could change if they had

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Speaker 6: the will to.

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Speaker 12: Climate scientists warn the Earth is on a path toward

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Speaker 12: warming by two point seven degrees Celsius. Global News twenty

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Speaker 12: four hours a day and whenever you want it with

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Speaker 12: Bloomberg News.

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Speaker 14: Now.

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Speaker 12: I'm Mammy Morris and this is Bloomberg Karen and.

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Speaker 1: Nathan all Right, Amy, thank you time now for the

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Speaker 1: Bloomberg Sports update. Bronti you by try state Houdi. Here's

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Speaker 1: John stash Hour, John all.

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Speaker 14: Right, Karen Nixon Bulls at the Garden and for much

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Speaker 14: of the night the crowd was silent. Chicago was dominating,

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Speaker 14: had a twenty two point lead with less than four

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Speaker 14: minutes to go in the third quarter, and suddenly the

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Speaker 14: Knicks woke up. Finished the quarter on a seventeen to

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Speaker 14: nothing run. They took the lead, but with three seconds left,

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Speaker 14: Josh Hart fouled the Bulls Kobe White on a three pointer.

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Speaker 14: He made all three. Chicago was up by one. The

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Speaker 14: Knicks had the last.

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Speaker 10: Shot, Brunston looking to get free. They wanted to guesses.

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Speaker 2: Two seconds to Joel Brunson turns.

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Speaker 14: Puts it up for the win.

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Speaker 1: It's off for him.

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Speaker 2: Looks like I was gonna fall through. How did that

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Speaker 2: ball come and the Knicks lose a heartbreaker?

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Speaker 14: He had the perfect look. How did that ball come out?

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Speaker 14: On MSG Clyde, everyone else saw runs and shots circle

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Speaker 14: around and out. Chicago won, won, twenty four to one

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Speaker 14: to twenty three in defeat Karl Anthony Towns forty six points,

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Speaker 14: though he missed six free throws. Knicks fall to five

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Speaker 14: and six. Their next two games, both at home against

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Speaker 14: the Nets, who had Barkley's loss of the Celtics one

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Speaker 14: thirty nine, one to fourteen Jason Tatum thirty six points

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Speaker 14: rebound shy of a triple double. Lebron James had a

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Speaker 14: triple double. He's done that three games in a row.

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Speaker 14: Lakers beat Memphis in Milwaukee's overtime, went over Detroit fifty

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Speaker 14: nine points for Giannis unto the Compo, and San Antonio's

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Speaker 14: went over Washington fifty points for twenty year old Victor Webbinyama.

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Speaker 14: The Spurs being coached by assistant Mitch Johnson, who was

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Speaker 14: revealed that their seventy five year old legendary coach Greg

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Speaker 14: Popovich recently suffered a mild stroke no timetable on his

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Speaker 14: return college hoops. Saint John's ranked to the top twenty

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Speaker 14: five for the first time in nearly six years. Redstorm

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Speaker 14: with a sixty six forty five win over Wagner. Their

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Speaker 14: next game is Sunday at MSG against New Mexico which

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Speaker 14: means Rick Patino will coach against his son. Hofstra upset

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Speaker 14: Seaton Hall forty nine to forty eight. Week eleven begins tonight,

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Speaker 14: Commanders and Eagles in Philadelphia. They're playing for first place

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Speaker 14: in the NFC East. John Stashedward Bloomberg Sports Karend Nathan.

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Speaker 6: Coast to Coast on Bloomberg Radio, nationwide on Sirius XM,

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Speaker 6: and around the world on Bloomberg and the Bloomberg Business app.

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Speaker 6: This is Bloomberg Daybreak. Good morning, I'm Nathan Hager.

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Speaker 2: Just over a week since the election, Donald Trump is

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Speaker 2: already sending shockwaves through Washington with some of his transition decisions.

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Speaker 2: The latest case in point Matt Gates the choice to

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Speaker 2: lead the Justice Department as Attorney General. The Florida Congressman

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Speaker 2: was full throated in support of the president elected this

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Speaker 2: year's Republican National Convention.

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Speaker 14: We are on a mission to rescue and save this country,

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Speaker 14: and we ride or die with Donald John Trump.

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Speaker 9: To the end.

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Speaker 2: Joining us now for more, Bloomberg News Senior editor Bill Ferries. Bill,

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Speaker 2: We've been talking for the last couple of days about

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Speaker 2: President elects Trump's unconventional cabinet picks. This one may be

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Speaker 2: the most unconventional of all. Good morning, Good morning.

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Speaker 15: You're right, I think even for people who try to

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Speaker 15: think outside the box on Trump's nominees and what he

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Speaker 15: might do, this was outside of that box as well. Listen,

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Speaker 15: Matt Gates. It's surprised. It surprised a lot of Republicans,

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Speaker 15: both in the Senate and the House. He is pretty

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Speaker 15: widely unpopular with a lot of his Republican colleagues, and

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Speaker 15: I think, you know, there will be questions about whether

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Speaker 15: he or some of the other nominees we've heard about,

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Speaker 15: would get through a confirmation process. I think with Gates,

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Speaker 15: you have people wondering whether he gets to the confirmation.

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Speaker 15: But you know, someone who was being investigated for allegedly

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Speaker 15: having sexual activity with a minor. There was apparently a

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Speaker 15: report from the House Ethics Committee due to come out

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Speaker 15: in the next couple of days that may have also

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Speaker 15: sparked Gates's decision to resign from the House. Very surprising decision,

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Speaker 15: had a lot of Republicans scratching their heads. But you know,

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Speaker 15: there have been a number of unconventional nominees in the

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Speaker 15: last couple of days, and so this is just probably

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Speaker 15: the first on a list of them.

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Speaker 2: I gotta be honest, I was waiting to hear former

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Speaker 2: House Speaker Kevin McCarthy's reaction to this decision. He did

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Speaker 2: speak with Bloomberg in Singapore with our Hustlinda Amin, saying

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Speaker 2: that the Gates choice is a good deflection on Trump's

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Speaker 2: part from some of his other picks. Of course, McCarthy,

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Speaker 2: but it heads very publicly with Matt Gates during the

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Speaker 2: leadership fight. But could this decision post some more problems

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Speaker 2: for some of the President intellect's other cabinet choices.

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Speaker 15: Well, it'd just be very interesting to see what happens.

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Speaker 15: We're still more than two months out from inauguration day

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Speaker 15: at this point. What happens when we get closer. Is

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Speaker 15: there enough pushback on Gates or other nominees that some

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Speaker 15: of them maybe don't make it to a confirmation hearing.

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Speaker 15: It's possible. I think in his first term President Trump

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Speaker 15: had I believe, three nominees who didn't who were withdrawn.

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Speaker 15: It's very unusual to have someone go through the confirmation

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Speaker 15: process and then get rejected. I think John Tower is

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Speaker 15: one kind of notable exception into that, but that was

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Speaker 15: a couple decades ago. At this point. So usually the

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Speaker 15: Republicans or the party in power of the Senate sends

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Speaker 15: enough signals to the White House saying you may want

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Speaker 15: to reconsider this, and it's reconsidered. But you know, the

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Speaker 15: other the factor that I think Senate Republicans will really

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Speaker 15: have to take into account is if they do reject

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Speaker 15: a Trump nominee, are those Republicans who voted against it

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Speaker 15: willing to face the full firepower of Donald Trump's Twitter account,

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Speaker 15: Elon Musk's Twitter account. There's going to be a lot

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Speaker 15: of headaches that come with going against this president.

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Speaker 2: Only about thirty seconds left here, Bill, But if Gates

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Speaker 2: does make it through confirmation, what kind of changes could

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Speaker 2: that mean at the Justice Department?

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Speaker 15: Well, I think, you know, he's going to have he's

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Speaker 15: going to be able to, first of all, look into

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Speaker 15: into the files about the investigation into the things he

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Speaker 15: was being probed for. But I think he's going to

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Speaker 15: you know, he's going to wield power over a huge

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Speaker 15: agent see overseen, you know, the appointment of attorney generals

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Speaker 15: of district attorneys across the country. It's going to wield

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Speaker 15: massive influence over the you know, federal law and order

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Speaker 15: and its enforcement around the United States.

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