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

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Speaker 1: Doug Prisoner. We begin with a Federal Reserve and Chair

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Speaker 1: J Powell saying today, the recent performance of the American

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Speaker 1: economy has been remarkably good, and it gives the FED

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Speaker 1: room to lower interest rates at a careful pace. Here's

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Speaker 1: Powell speaking earlier at an event hosted by the Dallas Fed.

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Speaker 2: I think in this situation, what it calls for is

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Speaker 2: us to be careful, move carefully, and as we as

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Speaker 2: we sort of reached the range or get near the

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Speaker 2: plausible range of neutral levels, it may be the case

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Speaker 2: that we slow the pace of what we're doing just

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Speaker 2: to increase the chances that we get this right.

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Speaker 1: Powell went on to express confidence in inflation continuing to

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Speaker 1: move toward the fed's two percent target. We also heard

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Speaker 1: today from Jamie Diamond, the CEO of JP Morgan Chase.

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Speaker 1: He said he's optimistic about the potential for economic growth

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Speaker 1: under the Trump administration. Here's Diamond speaking earlier at the

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Speaker 1: Apex CEO summit.

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Speaker 3: The President is inheriting what I think is an inflationary

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Speaker 3: environment that I'm not so optimistical go away so quickly.

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Speaker 3: So that's not because anything he did. But we've borrowed

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Speaker 3: ha spent a lot of money and still fueling through

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Speaker 3: the system. Is not quite clear where inflation is at

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Speaker 3: this point. So but growth will help. And then obviously

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Speaker 3: we're going to have to make decisions and you have

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Speaker 3: to leave it up to the president and his team.

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Speaker 1: That's Jamie Dimond, the CEO of JP Morgan Chase. He

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Speaker 1: went on to say that he believes the threats of

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Speaker 1: Trump's tariffs can be effective in getting other countries to

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Speaker 1: negotiate trade deals. President elect Trump has announced that he

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Speaker 1: will nominate Doug Bergham as Interior Secretary. He made the

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Speaker 1: announcement tonight at Mara a Lago.

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Speaker 4: Who's going to be announced tomorrow. And we have somebody

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Speaker 4: else that's probably coming up with him to be announced,

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Speaker 4: who's a big one. And we're going to do things

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Speaker 4: with energy and with land interior that is going to

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Speaker 4: be incredible, and so I look forward to doing the

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Speaker 4: formal announcement. Although this is a pretty big announcement right now.

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Speaker 1: That's President elect Trump alluding to a major position not

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Speaker 1: yet announced, Treasury Secretary. After the bell, we got a

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Speaker 1: disappointing revenue forecast from Applied Materials. The company is the

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Speaker 1: largest US maker of chip manufacturing equipment. It said first

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Speaker 1: quarter sales will miss estimates by around one hundred million dollars.

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Speaker 1: Shares and applied materials were down more than five percent

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Speaker 1: in late US trading. Meta Platforms has been slapped with

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Speaker 1: a seven hundred and ninety eight million euro fine for

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Speaker 1: linking its Facebook marketplace classified ads to its social network.

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Speaker 1: This is the company's first anti trust penalty from the

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Speaker 1: European Union and one of the last under outgoing EU

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Speaker 1: Anti Trust chief Marguerita Vesteger. Bloomberg Intelligence senior tech analyst

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Speaker 1: Mandeep Singh says it could be a warning shot for

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Speaker 1: other megacap tech companies.

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Speaker 5: Even though this particular fine is like a zero point

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Speaker 5: five percent of their total revenue, so really not a

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Speaker 5: big deal. But in the grand scheme of things, what

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Speaker 5: the EU is doing is saying their Digital Markets Act

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Speaker 5: which really prevents the gatekeeper companies, and Meta is deemed

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Speaker 5: as a gatekeeper along with Alphabet and Microsoft and Amazon

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Speaker 5: and Apple, these companies can give preferential treatment to their services.

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Speaker 1: He is Mandeep saying with Bloomberg Intelligence, by the way,

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Speaker 1: Meta intends on appealing this fine shares in Meta today,

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Speaker 1: we're down about a half of one percent in the

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Speaker 1: regular session. Senate Democrats are planning to use their last

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Speaker 1: weeks in the majority to try to make public a

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Speaker 1: House sexual misconduct probe into Representative Matt Gates, the president

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Speaker 1: elects controversial pick for Attorney General. We have the story

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Speaker 1: from Bloomberg. Scott Carr.

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Speaker 6: Chair of the Senate Judiciary Committee, Dick Durbin, issued a

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Speaker 6: statement calling on the House Ethics Committee to preserve and

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Speaker 6: share the report on Gates, who's been the subject of

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Speaker 6: an ongoing House investigation into allegations of sexual misconduct, illicit

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Speaker 6: drug use, and misuse of campaign funds. Republican representative from Kentucky,

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Speaker 6: Andy Bartell's Bloomberg he thinks the committee needs to release it. Yeah,

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Speaker 6: I think the Senate will demand that.

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Speaker 4: I think the Senate will need that information in order

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Speaker 4: or to work its will in the advice and consent process.

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Speaker 6: So far, Director of the House Ethics Panel Tom Rust

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Speaker 6: has declined to comment. In Washington, I'm Scott Carr, Bloomberg Radio.

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Speaker 1: President elect Trump has tapped Robert F. Kennedy Junior to

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Speaker 1: lead the Department of Health and Human Services. In reaction

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Speaker 1: we heard from House Minority Leader Hakim Jeffries on CNN.

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Speaker 7: The question that we all have to ask, with respect

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Speaker 7: to Robert F. Kennedy Junior and others, is this America's

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Speaker 7: very best? Is this the best that America has to

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Speaker 7: offer to safeguard the health and well being of the

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Speaker 7: American people. Of course it's not.

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Speaker 1: That is House Minority Leader Hakim Jeffries speaking earlier on CNN.

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Speaker 1: When news of the Kennedy selection leaked, shares in vaccine

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Speaker 1: makers fell. And that is news when you want it.

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Speaker 1: With Bloomberg News. Now, I'm Doug Chrisner, and this is

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Speaker 1: Bloomberg