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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. President Elect Trump is wrapping up his cabinet choices.

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Speaker 1: He has tapped Brooke Rawlins as Secretary of Agriculture. All

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Speaker 1: nominees do require Senate confirmation. However, some lawmakers on both

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Speaker 1: sides are concerned the transition team still has not agreed

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Speaker 1: to FBI background checks. GOP Senator Bill Haggerty is one

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Speaker 1: of those not concerned.

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Speaker 2: I don't think the American public cares who does the

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Speaker 2: background checks.

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Speaker 3: What the American public cares about is to see the

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Speaker 3: mandate that they voted in delivered upon.

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Speaker 1: That is Republican Senator Bill Haggerty, speaking on ABC's This Week.

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Speaker 1: At the same time, Democratic Senator Amy Klobuchar of the

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Speaker 1: Judiciary Committee says she's troubled that the Trump transition team

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Speaker 1: has not yet agreed to background checks.

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Speaker 4: We require these background checks of lyne DEA agents, drug

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Speaker 4: enforcement agents, we require of first time prosecutors for the

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Speaker 4: federal government. Why wouldn't we get these background checks for

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Speaker 4: the most important job in the United States government?

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Speaker 1: Senator Amy Klobuchar, speaking earlier on ABC's This Week. Right now,

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Speaker 1: we're seeing reaction to President elect Trump's choice for US

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Speaker 1: Treasury Secretary. He is Scott Bessent. He runs the macro

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Speaker 1: hedge fund Key Square Group. Right now, yields are lower

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Speaker 1: across the Treasury curve and the dollar is trading weaker.

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Speaker 1: We heard earlier from Brian Jacobson, the chief economist at

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Speaker 1: Annex Wealth Management. He told us Beson's nomination may ease

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Speaker 1: some concern about the impact of Trump's policies on other

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Speaker 1: countries economies and currencies.

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Speaker 3: I think that he actually brings this sense of almost

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Speaker 3: like gradualism to the administration, as opposed to taking some

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Speaker 3: sort of big bang approach to making big policy changes.

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Speaker 3: I think he understands that any changes that are to come,

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Speaker 3: whether it's with tariffs or on the fiscal situation, that

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Speaker 3: you want to telegraph what those policies might be and

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Speaker 3: then to implement them more gradually.

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Speaker 1: He is Brian Jacobson of Annex Wealth Management. Another Trump

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Speaker 1: ally is getting even richer. Elon Musk's net worth hit

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Speaker 1: three hundred forty seven point eight billion dollars. That is

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Speaker 1: a record high. More from Bloomberg's Charlie Pellet.

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Speaker 5: It's been driven by Tesla's ongoing stock rally and a

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Speaker 5: new funding round valuing his artificial intelligence startup Xai at

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Speaker 5: fifty billion dollars. Musk's numerous businesses have been surging in

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Speaker 5: value since Donald Trump's election victory propelled Musk, the so

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Speaker 5: called first Buddy, into the political spotlight. Tesla shares were

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Speaker 5: up three point eight percent Friday, reflecting ongoing optimism that

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Speaker 5: the Trump team's plans for self driving cars and electric

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Speaker 5: vehicle subsidies will give Musk's company an advantage over its

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Speaker 5: peers in New York. Charlie Pellett Bloomberg Radio, We.

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Speaker 1: Go to the Middle East. Next, Israeli Prime Minister Benjamin

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Speaker 1: Netnia who has confirmed the death of a rabbi who

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Speaker 1: went missing in the United Arab Emirates. Twenty eight year

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Speaker 1: old z V. Kagan, who worked for an Orthodox Jewish organization,

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Speaker 1: disappeared on Thursday. Here's Netniaho's speaking through a translator.

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Speaker 6: This murder was committed in the United Arab Emirates. The

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Speaker 6: murder of an Israeli citizen and Hubad emissary is an

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Speaker 6: abhorrent anti Semitic terrorist attack. I also sent my heartfelt

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Speaker 6: condolences to the Cogan family on your behalf.

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Speaker 1: That Israeli Prime Minister Benjamin nat Nyaho's speaking through a translator. Now,

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Speaker 1: the United Arab Emirates has arrested three suspects in connection

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Speaker 1: with this murder, and the Israeli government is praising the

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Speaker 1: UAE's cooperation in investigating the killing. Negotiators at the UN

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Speaker 1: Climate Summit struck a deal early on Saturday, but only

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Speaker 1: after talks appeared to be on the brink of collapse.

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Speaker 1: Wealthy nations were chided for a totally unacceptable and inadequate

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Speaker 1: proposal of two hundred and fifty billion dollars to help

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Speaker 1: developing countries confront rapidly warming temperatures. In the end, wealthy

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Speaker 1: nations pledge three high billion dollars per year in support

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Speaker 1: by twenty thirty five. Now, this agreement also calls on

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Speaker 1: parties to work toward unleashing a total of one point

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Speaker 1: three trillion dollars a year, with most of it expected

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Speaker 1: to come through private financing. Here is Nika Chi Kobi APAC,

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Speaker 1: Head of ESG Rating and Research at Fitch.

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Speaker 7: The sustainable debt market, which we cover at Sustainable Fitch,

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Speaker 7: is around one trillion dollars per year. Of course, not

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Speaker 7: all of that is climate related financing, some of that

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Speaker 7: is social financing or other non climate green financing. So

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Speaker 7: there is still a significant financing gap, and that can

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Speaker 7: explain why some countries like India and Nigeria pose very

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Speaker 7: strong objections at the end of the negotiation.

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Speaker 1: That is Nika chi Kob from Fitch. The level of

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Speaker 1: US inflation may prove stubborn next year, and there appears

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Speaker 1: to be limited chance that prices will fall when the

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Speaker 1: second Trump administration takes charge. Bloomberg's monthly survey of economists

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Speaker 1: suggest US inflation, as tracked by the Fed's preferred measure

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Speaker 1: of inflation, the PCE will run a touch hotter than expected.

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Speaker 1: Here's Bloomberg's Vinnie del judice.

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Speaker 2: As a result, economists now see one less FED rate cut,

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Speaker 2: and they projected a month ago with the benchmark running

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Speaker 2: between three point twenty five and three point five percent

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Speaker 2: next year. Though the Trump administration may be label pro business,

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Speaker 2: proposed tariffs are an inflation risk. Mass deportation of undocumented

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Speaker 2: migrants also anticipated, could trigger worker shortages and boost labor costs.

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Speaker 1: That is Bloomberg's Vinnidel judice. And that is news when

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Speaker 1: you want it. With Bloomberg News. Now I'm Doug Chrisner,

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Speaker 1: and this is Bloomberg