1
00:00:01,680 --> 00:00:04,560
Speaker 1: News when you want it with Bloomberg News Now. I'm

2
00:00:04,559 --> 00:00:08,119
Speaker 1: Brian Curtis in Hong Kong. Kevin McCarthy has been ousted

3
00:00:08,160 --> 00:00:10,959
Speaker 1: as House Speaker by dissidence in his own party.

4
00:00:11,320 --> 00:00:16,000
Speaker 2: On this vote, the yea's are two sixteen, the nays

5
00:00:16,720 --> 00:00:21,400
Speaker 2: are two ten. The resolution is adopted without objection. The

6
00:00:21,440 --> 00:00:25,040
Speaker 2: motion to reconsider is laid on the table. The office

7
00:00:25,400 --> 00:00:28,720
Speaker 2: of Speaker of the House of the United States House

8
00:00:28,760 --> 00:00:32,200
Speaker 2: of Representatives is hereby declared vacant.

9
00:00:32,720 --> 00:00:36,240
Speaker 1: McCarthy becomes the first Speaker removed from office. His fate

10
00:00:36,320 --> 00:00:40,080
Speaker 1: was sealed by hardliners frustrated with his bipartisan deal making,

11
00:00:40,360 --> 00:00:44,080
Speaker 1: and Democrats refuse to rescue him. As to McCarthy, he

12
00:00:44,120 --> 00:00:45,960
Speaker 1: says he won't run for speaker again.

13
00:00:46,400 --> 00:00:48,960
Speaker 2: I believe I can continue to fight, maybe in a

14
00:00:48,960 --> 00:00:51,720
Speaker 2: different manner. I will not run for speaker again.

15
00:00:52,280 --> 00:00:54,040
Speaker 3: I'll have the conference pick somebody else.

16
00:00:54,720 --> 00:00:57,880
Speaker 1: This puts an end to McCarthy's tumultuous nine months in

17
00:00:58,000 --> 00:01:00,880
Speaker 1: the job. A gag order has been put in place

18
00:01:00,880 --> 00:01:03,520
Speaker 1: for all parties in the Donald Trump fraud trial in

19
00:01:03,600 --> 00:01:06,720
Speaker 1: New York. Bloomberg's Ed Baxter has the story.

20
00:01:06,560 --> 00:01:09,120
Speaker 4: The judge saying that Trump posted on social media an

21
00:01:09,200 --> 00:01:12,640
Speaker 4: attack on the judge's clerk and shared a photo to

22
00:01:12,720 --> 00:01:16,560
Speaker 4: his followers. The judge, saying any attack of any members

23
00:01:16,560 --> 00:01:20,520
Speaker 4: of his staff are not acceptable, also told parties not

24
00:01:20,600 --> 00:01:23,560
Speaker 4: to talk about the case outside the courtroom now going

25
00:01:23,600 --> 00:01:25,600
Speaker 4: into today's hearing, Trump he's.

26
00:01:25,400 --> 00:01:31,320
Speaker 5: Been given paulse information, misleading information, and corrupt information by

27
00:01:31,440 --> 00:01:34,440
Speaker 5: a very corrupt and incompetent attorney general.

28
00:01:34,959 --> 00:01:38,199
Speaker 4: Trump deleted the post I'm ed Baxter Bloomberg Radio.

29
00:01:38,400 --> 00:01:41,160
Speaker 1: In some other news, Treasury yields hit new highs after

30
00:01:41,200 --> 00:01:44,959
Speaker 1: the government reported an unexpected increase in job openings in August.

31
00:01:45,440 --> 00:01:46,720
Speaker 1: Or from Bloomberg's Michael.

32
00:01:46,520 --> 00:01:50,240
Speaker 6: McKee, we've gone up in terms of job openings by

33
00:01:50,240 --> 00:01:53,200
Speaker 6: six hundred and ninety thousand and two over nine million. Again,

34
00:01:53,320 --> 00:01:57,280
Speaker 6: that is a significant increase. For the Jolts report job

35
00:01:57,320 --> 00:02:02,000
Speaker 6: openings and labor turnover hirings. The number of people getting

36
00:02:02,080 --> 00:02:05,600
Speaker 6: hired changed little, is still at about five point nine million,

37
00:02:05,680 --> 00:02:09,560
Speaker 6: so a very stable situation there. And then the quit

38
00:02:09,639 --> 00:02:12,320
Speaker 6: rate everybody's been focused on. The quit rate doesn't change

39
00:02:12,320 --> 00:02:15,520
Speaker 6: at all. Quits three point six million, pretty much the

40
00:02:15,560 --> 00:02:18,600
Speaker 6: same as the prior month, and that leaves the quit

41
00:02:18,840 --> 00:02:21,200
Speaker 6: rate unchanged at two point three.

42
00:02:21,120 --> 00:02:25,280
Speaker 1: Percent, boomergs Michael McKee the jump in job openings was

43
00:02:25,360 --> 00:02:29,640
Speaker 1: driven mainly by white collar positions. Atlanta FED President Raphaeld

44
00:02:29,639 --> 00:02:32,680
Speaker 1: Bostik says that rates should be held at elevated levels

45
00:02:32,720 --> 00:02:35,840
Speaker 1: for a long time to bring inflation down, but Treasury

46
00:02:35,880 --> 00:02:39,240
Speaker 1: Secretary Janet Yellen says higher rates are not a given.

47
00:02:39,800 --> 00:02:46,000
Speaker 3: I'm very optimistic about the US economic outlook. Short term

48
00:02:46,200 --> 00:02:50,720
Speaker 3: inflation is coming down in the context of an extremely

49
00:02:50,919 --> 00:02:56,080
Speaker 3: strong labor market. We're now engaging in a very substantial

50
00:02:56,280 --> 00:03:00,560
Speaker 3: program of investments to strengthen our economy.

51
00:03:01,600 --> 00:03:04,640
Speaker 1: Higher rates lifted yields and the dollar. The yield on

52
00:03:04,680 --> 00:03:08,040
Speaker 1: the tenure treasury now in Tokyo four point eight three percent,

53
00:03:08,080 --> 00:03:11,480
Speaker 1: the two year at five point one five percent. In

54
00:03:11,560 --> 00:03:14,400
Speaker 1: other news, jury selection has been conducted in the trial

55
00:03:14,400 --> 00:03:18,000
Speaker 1: of Sam Bankman Freed. He's accused of swindling billions of

56
00:03:18,040 --> 00:03:22,320
Speaker 1: dollars from the crypto exchange FTX. Tomorrow, the prosecution will

57
00:03:22,320 --> 00:03:25,520
Speaker 1: begin laying out its case. Here's Bloomberg's Kayley lines.

58
00:03:25,760 --> 00:03:29,480
Speaker 5: The prosecution also will be assisted by the accounts of

59
00:03:29,600 --> 00:03:33,320
Speaker 5: multiple key witnesses, some of the bankman Fried's closest associates

60
00:03:33,360 --> 00:03:35,360
Speaker 5: at the time all of this went down, Gary Wong,

61
00:03:35,400 --> 00:03:38,480
Speaker 5: who co founded FTX with him, Nishad Saying who used

62
00:03:38,520 --> 00:03:41,440
Speaker 5: to be ftx's head of engineering, and Caroline Ellison, who

63
00:03:41,480 --> 00:03:44,640
Speaker 5: was the CEO of Alimi to research the aforementioned training firm,

64
00:03:44,640 --> 00:03:47,360
Speaker 5: and also his ex girlfriend. All of them have already

65
00:03:47,360 --> 00:03:50,920
Speaker 5: cleaned guilty to federal charges and are cooperating with prosecutors

66
00:03:50,960 --> 00:03:53,520
Speaker 5: so they will be able to lean on their testimony

67
00:03:53,720 --> 00:03:56,160
Speaker 5: on the defense side, though Sam Bankman Freeing already leading

68
00:03:56,280 --> 00:03:58,560
Speaker 5: up to this trial, has said repeatedly it was never

69
00:03:58,640 --> 00:04:02,200
Speaker 5: his intention to fraud, and intention is what is going

70
00:04:02,240 --> 00:04:04,440
Speaker 5: to have to be proven over the course of this trial.

71
00:04:05,280 --> 00:04:08,640
Speaker 1: Bloomberg's Kaylee Lion, that's news when you want it with

72
00:04:08,680 --> 00:04:12,280
Speaker 1: Bloomberg News Now. I'm Brian Curtis. This is Bloomberg