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

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Speaker 1: Brian Curtis in Hong Kong House. Republicans are going after

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Speaker 1: President Joe Biden through the Attorney General's office. Bloomberg's Ed

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Speaker 1: Baxter has the story.

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Speaker 2: GLP members have voted a whole Attorney General Merrick Garland

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Speaker 2: in contempt of Congress, also stepping up their rhetoric to

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Speaker 2: get Garland to release tapes of President Biden's interview regarding

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Speaker 2: the holding of classified documents. Speaker Mike Johnson.

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Speaker 3: The Attorney General doesn't get to decide whether he hides

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Speaker 3: the tape.

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Speaker 2: They say that the recordings call into some question Biden's

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Speaker 2: memory and mental acuity. Ed Baxter Bloomberg Radio.

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Speaker 1: World leaders are heading to the G seven summit in Italy.

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Speaker 1: Bloomberg's Emory Hordern is there.

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Speaker 4: The one thing that they do want to do as

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Speaker 4: a G seven leader as a group is to really

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Speaker 4: start to boost their support for Ukraine and also make

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Speaker 4: sure they're sending a signal to China that whether it's

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Speaker 4: semiconductors or whether it's potential third country banks that are

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Speaker 4: going on around trade restrictions, potentially using in Russia's version

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Speaker 4: of Swift.

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Speaker 1: Bloomberg's an Marie Hordern Bloomberg has learned the G seven

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Speaker 1: is calling on China to stop enabling Russia's war with

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Speaker 1: Ukraine with technology shipments. It's also calling on Hamas to

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Speaker 1: accept the ceasefire deal with Israel outlined by President Biden.

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Speaker 1: US Secretary of State Anthony Blincoln is raising new doubts

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Speaker 1: about a ceasefire in Gaza. Speaking to reporters in Doha,

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Speaker 1: he said that Hamas has demanded several changes that go

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Speaker 1: beyond previous positions. Blincoln said it means the war with

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Speaker 1: Israel will continue.

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Speaker 3: We are going to continue to push on an urgent

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Speaker 3: basis with our partners, with Cutter with Egypt to try

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Speaker 3: to close this deal.

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Speaker 1: Secretary Blincoln says he thinks the gaps between Israel and

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Speaker 1: Hamas are bridgeable, but that doesn't mean that they will

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Speaker 1: be bridged. Donald Trump will return to Capitol Hill on

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Speaker 1: Thursday to discuss what another Trump presidency will look like.

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Speaker 1: Bloomberg's Nancy Lyons reports.

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Speaker 5: Former President Trump has had differences with Republicans in the past,

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Speaker 5: but money are now standing staunchly behind it. Former Congressman

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Speaker 5: Kevin Brady now works with the Alliance for Competitive Taxation.

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Speaker 5: He predicts during today's meeting, they'll discuss extending Trump's twenty

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Speaker 5: seventeen tax cuts that expire next year. Despite the price.

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Speaker 6: Tag, lawmakers, as they extend the tax cuts will also

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Speaker 6: extend the reforms that help pay for that won't cover

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Speaker 6: all of it. It's a good, solid step.

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Speaker 5: According to The Washington Post, one lawmaker predicted chaos, while

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Speaker 5: another thought it would be morale building in Washington. Nancy

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Speaker 5: Lyons Bloomberg Radio.

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Speaker 1: The Federal Reserve has held interest rates steady for the

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Speaker 1: seventh consecutive meeting. The decision followed a softer than expected

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Speaker 1: CPI print. For May FED Chair Jerome Powell.

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Speaker 3: We see today's report as progress and as building confidence,

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Speaker 3: but we don't see ourselves as having the confidence that

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Speaker 3: would warrant that would warrant beginning to lose policy at

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Speaker 3: this time.

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Speaker 1: Pal noted progress on inflation, but said more work needs

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Speaker 1: to be done.

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Speaker 3: The most recent inflation readings have been more favorable in

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Speaker 3: earlier in the year, however, and there has been modest

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Speaker 3: further progress toward our inflation objective. We'll need to see

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Speaker 3: more good data to bolster our confidence that inflation is

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Speaker 3: moving sustainably toward two percent.

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Speaker 1: Officials penciled in just one interest rate cut this year,

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Speaker 1: down from three. The European Union is putting some additional

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Speaker 1: trade pressure on China, the EU announcing additional tariffs of

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Speaker 1: up to forty one percent on evs from China. Bloomberg's

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Speaker 1: Craig Trudell says there's a chance this could backfire.

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Speaker 6: There's also still questions about, you know, just how much

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Speaker 6: Chinese manufacturers will be able to sustain this blow, to

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Speaker 6: what extent they've been pricing their vehicles sort of strategically

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Speaker 6: to try to avoid this level of scrutiny and maybe

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Speaker 6: have a cushion to work with to bring you know,

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Speaker 6: the starting prices down and still be able to sell competitively.

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Speaker 1: Bloomberg's Craig Trudell well. Meantime, Tesla has asked the EU

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Speaker 1: to subject its evs to a lower tariff rate than

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Speaker 1: other manufacturers. The Wall Street Journal reports SpaceX CEO Elon

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Speaker 1: Musk pursued women working at the company for sex, including

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Speaker 1: a former intern. The journal cited affidavit signed by one

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Speaker 1: of the women and other interviews. Former SpaceX executives said

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Speaker 1: that company policies are not enforced with Musk and that

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Speaker 1: contributes to a culture of sexism and harassment. President Gwynn

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Speaker 1: Shotwell disagreed though with that assessment. She told the newspaper

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Speaker 1: that SpaceX fully investigates all complaints of harassment and takes

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Speaker 1: appropriate actions in response. That's news when you want it

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Speaker 1: with Bloomberg News Now, Ibrian Curtis, this is Bloomberg