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Speaker 1: Bloomberg Audio Studios, podcasts, radio news.

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Speaker 2: News when you want it with Bloomberg News Now, I'm

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Speaker 2: in Kleggy. President Joe Biden Friday predicted the Federal Reserve

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Speaker 2: would move to cut rates as the administration places greater

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Speaker 2: emphasis on housing costs in its election neer fight with

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Speaker 2: against Donald Trump. Biden said, quote, I can't guarantee it,

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Speaker 2: but I bet you betcha those rates come down more

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Speaker 2: because I bet you that that little outfit that sets

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Speaker 2: interest rates, it's going to come down unquote. Biden said

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Speaker 2: this on Friday in a speech in Philadelphia. He did

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Speaker 2: not specify when he thought the cuts might begin. Markets

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Speaker 2: expect Federal Reserve Chair Jerome Powell to soon begin easing rates,

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Speaker 2: with investors anticipating guts beginning in June. Powell told lawmakers

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Speaker 2: this week officials are not far from gaining enough confidence

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Speaker 2: that the time is right to start cutting, bolstering expectations

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Speaker 2: for a rate reduction in the coming months. The Senate

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Speaker 2: Friday passed legislation to fund several federal agencies through September,

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Speaker 2: thus averting a partial government shutdown. The four hundred and

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Speaker 2: sixty seven point five billion dollars spending package funds agriculture, transportation, housing, energy, veterans,

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Speaker 2: and other programs through the end of the fiscal year.

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Speaker 2: On September thirtieth, the Senate vote was seventy five to

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Speaker 2: twenty two. A United Airlines aircraft ran off the taxiway

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Speaker 2: into a grassy area after landing at Houston on Friday.

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Speaker 2: It was the third incident this past week involving the

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Speaker 2: airline's Boeing planes. The incident follows the mid air loss

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Speaker 2: of attire from a United Boeing seven seventy seven two

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Speaker 2: hundred Thursday, just after the plane took off from San

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Speaker 2: Francisco on a flight to Osaka, Japan, and an engine

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Speaker 2: fire on a United flight from Houston to Fort Myers, Florida.

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Speaker 2: Earlier this week. The plane in the Houston to Florida

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Speaker 2: flight had to make an emergency landing after one of

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Speaker 2: its engines burst into flames ten minutes after takeoff. The

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Speaker 2: twenty one year old aircraft was also A seven thirty seven,

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Speaker 2: but according to flight Radar two twenty four, it is

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Speaker 2: an earlier version than the Max. General Electrics Aerospace Division

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Speaker 2: set plans to return more of its profits to shareholders,

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Speaker 2: including restoration of a significant dividend as it accelerates earnings

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Speaker 2: as an independent company. GE CEO Larry Colp sat down

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Speaker 2: with Wall Street Week's David Weston to discuss the future

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Speaker 2: of the division.

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Speaker 3: Now, obviously there's a little bit of political dysfunction relative

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Speaker 3: to the budget currently in Washington, but what we shared

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Speaker 3: with investors was very much that same geopolitical backdrop. Unfortunately

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Speaker 3: that may not get better before it gets more tense.

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Speaker 3: And again, both here in the US and around the world,

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Speaker 3: our business supports the warfighter, both in both configurations, and

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Speaker 3: we know that there are advanced technologies that governments want

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Speaker 3: to deploy or be ready to deploy over time, and

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Speaker 3: that's where we're investing from an R and D perspective.

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Speaker 2: You can hear David's interview with Ry Culp this weekend

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Speaker 2: on Bloomberg Radio and television. ARC Investment Management head Kathy

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Speaker 2: Wood says semiconductor stocks may endure a market correction as

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Speaker 2: the supply chain for the technology perks up.

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Speaker 1: The one place where we could see a correction, and

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Speaker 1: it's just a correction we're not calling at the end

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Speaker 1: of this at all, is in the chip space.

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Speaker 2: Kathy Wood on Bloomberg Business Week semiconductor stocks are among

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Speaker 2: the best performing stocks this year, with shares of Nvidia

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Speaker 2: up around eighty percent. Wood bought Nvidia in twenty fourteen,

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Speaker 2: but sold out of most of her position before the

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Speaker 2: company's rally last year. A reminder, you can hear the

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Speaker 2: entire interview with Kathy Wood on the Bloomberg Business Week podcast.

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Speaker 2: And New York Community Bank Corp. Said it awarded newly

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Speaker 2: appointed chief executive officer Joseph Adding a pay package worth

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Speaker 2: as much as five point seventy five million dollars for

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Speaker 2: his first year at the bank, and stock options already

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Speaker 2: twenty one point three million and the money the troubled

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Speaker 2: lender known for catering to New York apartment landlords, disclosed

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Speaker 2: Otting's initial compensation in a regulatory filing on Friday. The

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Speaker 2: former US Controller of the currency was named this week

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Speaker 2: to take over the bank as it received more than

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Speaker 2: one billion dollars in fresh equity from an investor group

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Speaker 2: led by former Treasury Secretary Stephen Venuchin. The company said

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Speaker 2: the pile of fifteen million stock options with a strike

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Speaker 2: price of two dollars will invest in twelve quarterly installments,

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Speaker 2: and that's news when you want it with Bloomberg News.

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Speaker 2: Now I met Kleggi, and this is Bloomberg