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

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Speaker 1: Doug Prisner. It is the first day of the US

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Speaker 1: government shutdown. Earlier today, the Senate failed to pass a

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Speaker 1: bill to reopen, but Republicans and Democrats are still at

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Speaker 1: odds over funding for healthcare. Democrats want to negotiate on

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Speaker 1: extending Affordable Care Act subsidies and reversing cuts to Medicaid. However,

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Speaker 1: top Republicans say they will not negotiate until the government reopens.

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Speaker 1: Here is Senate Democratic Leader Chuck Schumer.

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Speaker 2: When Democrats had the White House, the Senate and the House,

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Speaker 2: when Democrats had the majority in this chamber, when I

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Speaker 2: was majority leader, we never had one shutdown in four years,

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Speaker 2: not one. You know why because we worked with our

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Speaker 2: Republican colleagues to find a way to keep the government funded.

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Speaker 1: At the same time, today we heard from Senate Majority

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Speaker 1: Leader John Thune. He said his party is ready to

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Speaker 1: reopen the government.

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Speaker 3: This could have been avoided. It's totally unavoidable, and everybody's

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Speaker 3: now asking the question, how does this end.

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Speaker 4: Well, it ends when the Senate.

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Speaker 1: Democrats pick this bill up passed by the House of

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Speaker 1: Representatives and vote for it. Senate Majority leader John Thune. Meantime,

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Speaker 1: the White House is planning to swiftly dismiss federal workers.

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Speaker 1: We are told Budget Director Russell Vote talked to House

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Speaker 1: lawmakers today and said some federal agencies will move to

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Speaker 1: terminate workers within one to two days. We also heard

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Speaker 1: today from Vice President jd. Vance.

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Speaker 5: Because we are in a government shutdown, we are going

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Speaker 5: to have to lay some people off if the shutdown continues.

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Speaker 5: We don't like that, we don't necessarily want to do it,

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Speaker 5: but we're going to do what we have to to

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Speaker 5: keep the American people's essential services continuing to run.

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Speaker 1: That was Vice President jd. Vance. Now, high profile legal

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Speaker 1: fights challenging policies from the Trump administration are being paused

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Speaker 1: due to the government shutdown. Courts will remain open, although

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Speaker 1: the Justice Department will scale backwork on non urgent civil cases.

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Speaker 1: And as a result of the government shutdown, the agency

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Speaker 1: responsible for releasing economic data, the BLS, will be forced

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Speaker 1: to delay those reports. Today, the head of the Chicago Fed,

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Speaker 1: Austin Goulesby, said this will make it difficult for the

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Speaker 1: Fed to measure the economy. Here is Goolsby in a

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Speaker 1: radio interview on the public radio program Marketplace.

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Speaker 4: The data dogs are howling because you know we're not

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Speaker 4: getting our usual supply of information. I will say I

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Speaker 4: consider the Bureau of Labor Statistics job data to be

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Speaker 4: the absolutely best data source on jobs and statistics in

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Speaker 4: the entire world. If we aren't going to have those,

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Speaker 4: it's problematic. That said, the Chicago Fed has come out

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Speaker 4: with some new job market indicators and we'll be releasing

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Speaker 4: them tomorrow.

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Speaker 1: That is the head of the Chicago Fed, Austin Goulesby,

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Speaker 1: speaking to the public radio program Marketplace. The Supreme Court

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Speaker 1: will not allow President Trump to immediately oust FED Governor

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Speaker 1: Lisa Cook while she sues to keep her job. It

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Speaker 1: means Cook can remain in her position while the Department

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Speaker 1: of Justice appeals a lower court ruling that found Cook

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Speaker 1: was likely to win her lawsuit over this firing. In

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Speaker 1: late August, President Trump said he would remove Cook over

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Speaker 1: allegations of mortgage fraud, which she has denied. Here is

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Speaker 1: White House Press Secretary Caroline Levitt.

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Speaker 3: Look, we have respect for the Supreme Court, but they're

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Speaker 3: going to hear the actual case and make a determination

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Speaker 3: on the legal argument in January, and we look forward

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Speaker 3: to that because we maintain that she was fired well

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Speaker 3: within the president's legal authority to do so. She was

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Speaker 3: removed from the board, and we look forward to that

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Speaker 3: case being fully played out at the Supreme Court.

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Speaker 1: White House Press Secretary Caroline Levitt. In South Korea, memory

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Speaker 1: chip maker Samsung and sk Heinez are rallying on news

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Speaker 1: the companies will supply chips to open AI's Stargate project.

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Speaker 1: The aim here is to create a longer term partnership

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Speaker 1: between America's most valuable AI startup and Asia's dominant players

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Speaker 1: in memory chips. Here is Masha Hero Wakasugi of Bloomberg Intelligence.

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Speaker 6: I think that both Samson and also s K highness

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Speaker 6: could be benefiting from this AI shift. And maybe this

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Speaker 6: story is only talking about maybe you know, HBM or

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Speaker 6: probably AI related the dram, but also we think that

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Speaker 6: probably maybe you know, non fresh memory could be the

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Speaker 6: benefiting from the overall data expansion story. So I think

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Speaker 6: that maybe going forward the competition could be you know,

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Speaker 6: a bit in getting tough on tough up.

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Speaker 1: It is Masha Hero Wakasugi of Bloomberg Intelligence. President Trump

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Speaker 1: is intending to confront Chinese President Chi Jinping over Beijing's

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Speaker 1: refusal to purchase American soybeans. Trump is facing pressure from

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Speaker 1: Republican lawmakers from agricultural states to break the impact with

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Speaker 1: China over soil being purchases. Here is Bloomberg's Stephen Engel.

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Speaker 7: Well, we do know that Donald Trump is becoming increasingly

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Speaker 7: concerned by the unrest, if you will, by US farmers,

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Speaker 7: because keep in mind, you know, traditionally in the past

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Speaker 7: decade or so, anywhere between twenty eight to upwards of

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Speaker 7: sixty percent of US soybean crops, which is underway, by

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Speaker 7: the way, the harvest is underway right now, go to China.

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Speaker 1: That was Bloomberg, Steven Engel. In sports, the MLB Wildcard

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Speaker 1: is underway, and in the American League, the Cleveland Guardians

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Speaker 1: defeated the Detroit Tiger six to one. At the same time,

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Speaker 1: the New York Yankees defeated the Boston Red Sox four

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Speaker 1: to three. Then in the National League, the San Diego

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Speaker 1: Padres defeated the Chicago Cubs three to nothing. All series

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Speaker 1: now tied at one game apiece. And that is news

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

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Speaker 1: and this is Bloomberg