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Speaker 1: News when you want it to with Bloomberg News Now,

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Speaker 1: I'm Doug Prisner. Key Republican lawmakers are speaking out against

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Speaker 1: a grand jury investigation of FED shared Jay Powell. On

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Speaker 1: Sunday night, Powell said the FED had been subpoenaed by

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Speaker 1: the DOJ with threats of a criminal indictment. Powell said

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Speaker 1: the action was related to his Congressional testimony in June

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Speaker 1: on renovations of the fed's headquarters, but he also said

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Speaker 1: this should be seen in the broader context of the

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Speaker 1: Trump administration's threats and ongoing pressure well immediately. Senator Tom Tillis,

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Speaker 1: a key Republican on the Banking Committee who is not

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Speaker 1: running for re election, vowed to oppose any Trump nominees

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Speaker 1: to the FED until this matter is resolved. At the

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Speaker 1: same time, senem majority leader John Thune said the allegations

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Speaker 1: against Powell better be real and serious. Here is Bloomberg's

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Speaker 1: Tyler Kendall.

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Speaker 2: It does appear that Powell is talking with the Senators

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Speaker 2: in real time. Senator Lisa Murkowski, a Republican from Alaska,

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Speaker 2: confirmed she spoke with him earlier the day this morning,

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Speaker 2: and she's now suggesting that Congress could launch its own

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Speaker 2: investigation into the Department of Justice's investigation and Joe, I'll

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Speaker 2: leave you with this one, the House Financial Services Chair

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Speaker 2: French Hill, saying that this is an unnecessary distraction, in

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Speaker 2: his words, appearing to take the side of the FED.

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Speaker 1: Chair that is Bloomberg's Tyler Kendle. Meantime, the US Attorney

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Speaker 1: for the District of Columbia, Janine Piro, said tonight she

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Speaker 1: did not seek a sign off from her bosses at

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Speaker 1: the Department of Justice before issuing a subpoena to the FED.

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Speaker 1: In a post on X, Piro also said she does

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Speaker 1: not plan to back down from this investigation, and she

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Speaker 1: said the word indictment has come out of mister Powell's mouth,

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Speaker 1: but no one else's. At the same time, this probe

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Speaker 1: has elicited objections from GOP lawmakers, while recent comments from

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Speaker 1: President Trump suggest he's trying to distance himself from this matter.

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Speaker 1: In company news, Meta Platforms is planning to cut around

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Speaker 1: ten percent of workers in its Reality Labs division. This

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Speaker 1: is part of a broader strategy to shift money away

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Speaker 1: from from some virtual reality products and into other AI wearables.

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Speaker 1: We are told these layoffsers set to be announced this week.

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Speaker 1: City Group is set to cut about a thousand jobs

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Speaker 1: this week. This is part of CEO Jane Fraser's plan

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Speaker 1: to keep a lid on cost and improve returns, and

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Speaker 1: Blackrock is cutting hundreds of jobs across the company. We

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Speaker 1: are told these cuts total about one percent of BlackRock's

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Speaker 1: total global headcount. That will amount to around two hundred

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Speaker 1: and fifty employees firm wide. We go to Iran next,

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Speaker 1: where the government says its security forces have full control

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Speaker 1: of the country after two weeks of violent unrest. At

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Speaker 1: the same time, President Trump said the US is mulling

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Speaker 1: potential options in response to reports of deadly crackdowns on

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Speaker 1: Iranian demonstrators. Here is White House Press Secretary Caroline Lovett.

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Speaker 3: One thing President Trump is very good at is always

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Speaker 3: keeping all of his options on the table, and air

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Speaker 3: stripes would be one of the many, many options that

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Speaker 3: are on the table for the commander in chief. Diplomacy

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Speaker 3: is always the first option for the president.

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Speaker 1: White House Press Secretary Caroline Levitt Now, in a post

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Speaker 1: on truth Social Today, President Trump said he will impose

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Speaker 1: a twenty five percent tariff on any country that trades

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Speaker 1: with Iran, effective immediately. The Danish energy firm or Stead

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Speaker 1: can resume a wind farm project off the coast of

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Speaker 1: Rhode Island while the company challenges a stop work order

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Speaker 1: from the government. This is after a federal judge concluded

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Speaker 1: the order may have been arbitrary and capricious and in

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Speaker 1: violation of the Administrative Procedures Act. Bloomberg's Amy Morris has

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Speaker 1: more from Washington.

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Speaker 4: The Trump administration had ordered a ninety day suspension of

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Speaker 4: five East Coast wind farm projects, citing national security concerns.

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Speaker 4: During a meeting with oil executives on Friday, the President

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Speaker 4: says he's not a fan of windmills. We have not

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Speaker 4: approved one windmill since I've been in office, and we're

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Speaker 4: going to keep it that way. My goal is to

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Speaker 4: not let any windmill be built.

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Speaker 2: Their losers.

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Speaker 4: Judge ruled the Revolution Wind project, intended to power hundreds

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Speaker 4: of thousands of homes in Rhode Island and Connecticut, would

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Speaker 4: be irreparably harmed unless work was allowed to continue. During

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Speaker 4: the legal fight with the Trump administration over renewable energy

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Speaker 4: in Washington, Amy Morris Bloomberg Radio in Sports.

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Speaker 1: Brooks Koepka is returning to the PGA Tour just five

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Speaker 1: weeks after leaving liv Golf Kopka has agreed to a

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Speaker 1: one time program for elite players that comes with a

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Speaker 1: financial penalty. And that is news when you want it

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Speaker 1: with Bloomberg News. Now, I'm Doug prisoner and this is

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Speaker 1: Bloomberg