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Speaker 1: News when you wanted with Bloomberg News Now, I'm Charlie Pellett.

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Speaker 1: Israel's Security Cabinet has approved a plan to take over

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Speaker 1: Gaza City. That word coming from Prime Minister Benjamin Netanyahu's office.

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Speaker 1: The decision, taken early Friday, marks another escalation of Israel's

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Speaker 1: twenty two month offensive, launched in response to Ramas's October

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Speaker 1: seventh attack. Out of a Security Cabinet meeting which began

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Speaker 1: Thursday and ran through the night, Netnyaho said Israel plan

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Speaker 1: to retake control of the entire territory and eventually handed

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Speaker 1: off to friendly Arab forces opposed to Ramas. President Trump

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Speaker 1: is nominating Council of Economic Advisors chairman Stephen Myron to

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Speaker 1: serve as a Federal Reserve governor. Bloomberg's Amy Morris reports

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Speaker 1: from Washington.

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Speaker 2: President Trump says Myron, who will need to be confirmed

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Speaker 2: by the Senate, would only serve the remaining term of

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Speaker 2: FED Governor Adriana Coogler, which expires in January. Myron has

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Speaker 2: been critical of the Fed's track record and says tariffs

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Speaker 2: are not likely to cause inflation pressure.

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Speaker 3: We've now got several months of data and again there's

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Speaker 3: just zero macroeconomically significant evidence of price pressures from tariffs.

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Speaker 2: Stephen Myron, in a conversation just hours before the President's

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Speaker 2: announcement on Thursday with Balance of Power host Joe Matthew

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Speaker 2: that view puts him somewhat at odds with Powell. The

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Speaker 2: FED chair has said that while the base case is

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Speaker 2: that tariff's effects on inflation could be short lived, Fed

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Speaker 2: policymakers must guard against the alternative. In Washington, Amy Morris

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Speaker 2: Bloomberg Radio.

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Speaker 1: Sources tell Bloomberg Federal Reserve Governor Christopher Waller is emerging

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Speaker 1: as a top candidate to serve as a central Bank's

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Speaker 1: chair among President Trump's advisors, and with more on that

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Speaker 1: story Bloomberg's Denise Pellegrini.

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Speaker 4: They're searching for a replacement for j Powell, and one

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Speaker 4: of the sources says Trump advisors are impressed with Waller's

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Speaker 4: willingness to move on policy based on forecasting rather than

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Speaker 4: current data, and on his deep knowledge of the FED

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Speaker 4: system as a whole. They say Waller has met with

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Speaker 4: the president's team about the role, but has yet to

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Speaker 4: meet with President Trump himself. The sources also say Kevin Wirsh,

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Speaker 4: a former FED official and Kevin has It. Currently. Trump's

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Speaker 4: National Economic Council Director also remain in contention for the

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Speaker 4: job in New York, Denise Pelagreney Bloomberg Radio.

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Speaker 1: As for the outlook for the Federal Reserve and potential

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Speaker 1: rate cuts, Seema Shaw is Chief Global Strategistic Principal Global Investors.

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Speaker 3: From a political side, I think it's been very, very

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Speaker 3: difficult for the FED to avoid cutting rates. We've, of course,

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Speaker 3: we've seen so many FED speakers in the last few

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Speaker 3: days falling onto that side with Wallace. So we are

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Speaker 3: expecting a cut and rate in September now. But I

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Speaker 3: have to say, I don't think there's going to be

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Speaker 3: much need for really aggressive rate cuts because we still

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Speaker 3: have a constructive view of the economy. We still actually

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Speaker 3: have some concerns about inflation.

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Speaker 1: Seema Shaw of Principal Global Investors. President Trump is calling

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Speaker 1: on Intel CEO Lip Bhutan to resign due to what

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Speaker 1: he called conflicts of interest. Writing on Truth Social the

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Speaker 1: President gave no evidence or additional detail on the potential

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Speaker 1: conflicts of interest. The post came after Republican Senator Tom

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Speaker 1: Cotton asked the chairman of Intel's board this week to

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Speaker 1: answer questions about Tan's ties to China, including investments in

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Speaker 1: the country's semiconductor companies. Ian King covers the semiconductor industry

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Speaker 1: for Bloomberg News, and he says it adds to the

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Speaker 1: challenges for a company that is supposed to anchor restoration

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Speaker 1: of the US semiconductor industry.

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Speaker 5: Intel recently during innings cast doubts on whether it'll build

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Speaker 5: the plants in Ohio that everybody's looking at as a

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Speaker 5: cornerstone of chip manufacturing in the US, that it'll be

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Speaker 5: very measured in its introduction of new new chip technology

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Speaker 5: that has obviously created an undermining of this story of

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Speaker 5: bringing back chip manufacturing to the US and sort of

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Speaker 5: making the US great again in that particular area. So

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Speaker 5: clearly that has caught the attention of politicians, and clearly

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Speaker 5: they're not happy with the direction that that's going.

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Speaker 1: In Bloomberg's Ian King reporting an Intel was down three

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Speaker 1: point one percent. It was the first day of trading

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Speaker 1: for Firefly Aerospace shares. They gained thirty four percent with

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Speaker 1: more here's Bloomberg's Dan Schwartzmann.

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Speaker 2: It marks the next evolution for a company that survived

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Speaker 2: bankruptcy and turmoil to develop its own fleet of rockets

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Speaker 2: and successfully land a private spacecraft on the Moon.

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Speaker 1: The Cedar Park, Texas based space firm becomes the most

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Speaker 1: recent test case of whether a launch company can maintain

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Speaker 1: a sustainable business where other space companies have failed.

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Speaker 2: In March, the company made history by successfully landing a

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Speaker 2: robotic spacecraft called Blue Ghost on the surface of the

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Speaker 2: Moon in partnership in NASA.

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Speaker 1: In New York, Dan Schwartzman Bloomberg Radio a mixed day

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Speaker 1: for the US stock market, with the S and P

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Speaker 1: five hundred index little change down five points, down under

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Speaker 1: one tenth of one percent. The Dow was down two

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Speaker 1: hundred and twenty four, down five tenths, but the Nestak

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Speaker 1: composite indecks closed at a record up seventy three, up

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Speaker 1: by three tenths of one percent. And that's news when

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Speaker 1: he wanted with Bloomberg News. Now, I'm Charlie pellattand this

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Speaker 1: is Bloomberg