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Speaker 1: News when you wanted with Bloomberg News Now, I'm Doug Krisner.

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Speaker 1: US Treasury Secretary Scott Besant is calling on the FED

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Speaker 1: to cut its policy rate by fifty basis points after

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Speaker 1: this week's report on consumer prices. Speaking earlier to Bloomberg Surveillance,

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Speaker 1: Bessin said that could be the beginning of a new

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Speaker 1: rate cutting cycle.

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Speaker 2: There's an adjustment and that the rates are too constrictive.

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Speaker 2: If you look at any model, that the we should

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Speaker 2: probably be one hundred and fifty one hundred and seventy

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Speaker 2: five basis points lower. So I think the committee needs

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Speaker 2: to step back.

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Speaker 1: That is US Treasury Secretary Scott Besson speaking earlier to Bloomberg.

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Speaker 1: By the way, you can hear the entire conversation on

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Speaker 1: the Bloomberg Talks podcast. Separately, we are told that Bessant

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Speaker 1: has been granted an extension after failing to fully divest

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Speaker 1: his assets in compliance with an ethics agreement. The Office

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Speaker 1: of Government Ethics has given Bessant until December fifteenth. O

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Speaker 1: P and leaders met virtually today with President Trump ahead

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Speaker 1: of his summit with Russian President Vladimir Putin in Alaska

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Speaker 1: on Friday. After today's meeting. Trump warned of severe consequences

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Speaker 1: if Putin did not agree to a ceasefire in Ukraine.

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Speaker 1: More from Bloomberg Samy Morrison Washington.

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Speaker 3: During the virtual meeting, European leaders urged Trump to press

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Speaker 3: Putin to agree to a ceasefire and a meeting with

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Speaker 3: Vladimir Zelensky Now. After the call, reporters pressed Trump on

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Speaker 3: what would happen if Putin doesn't agree.

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Speaker 4: There will be conctions. There will be I don't have

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Speaker 4: to say there will be very severe consequences.

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Speaker 3: Trump says he's already looking ahead to a possible second meeting.

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Speaker 3: Friday's meeting is at Joint Base Elmendorf Richardson in Anchorage.

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Speaker 3: That base played a key strategic role in monitoring and

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Speaker 3: deterring the Soviet Union during much of the Cold War.

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Speaker 3: In Washington, Amy Moore as Bloomberg.

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Speaker 1: Radio, President Trump signed an executive order today to ease

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Speaker 1: regulations for the commercial space industry as a way of

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Speaker 1: speeding up the licensing process for rocket launch. The executive

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Speaker 1: order directs the Secretary of Transportation to review regulatory requirements

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Speaker 1: to eliminate outdated, redundant, or overly restrictive rules for launch

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Speaker 1: and re entry vehicles companies such as SpaceX and other

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Speaker 1: commercial launch companies such as Jeff Bezos's Blue Origin could benefit.

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Speaker 1: Bitcoin hit a record high today, moving in lockstep with

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Speaker 1: the rally in US stocks. This move reflects a wider

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Speaker 1: move of greater risk taking in global markets. Wednesday evening

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Speaker 1: in New York, Bitcoin rose above one hundred twenty three thousand,

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Speaker 1: five hundred, and that milestone came soon after the S

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Speaker 1: and P five hundred closed at a record high for

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Speaker 1: the second consecutive session after the bell. Cisco Systems gave

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Speaker 1: a lukewarm forecast for the current fiscal year. Investors had

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Speaker 1: been hoping for a boost from the massive spending on

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Speaker 1: AI data centers. Cisco said that sales will be between

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Speaker 1: fifty nine billion and sixty billion dollars in the fiscal

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Speaker 1: year three through July twenty twenty six. David Bonson is

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Speaker 1: the chief investment officer of the Bonson Group.

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Speaker 4: Cisco does have a call option on AI. They have

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Speaker 4: a future growth play that they're very well positioned for,

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Speaker 4: but it isn't something that should be creating a twenty

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Speaker 4: percent move on the result of one quarterly announcement.

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Speaker 1: David Bonson from the Bonson Group shares in Cisco were

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Speaker 1: very little changed in late New York trading. Amazon is

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Speaker 1: planning to offer same day grocery delivery in twenty three

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Speaker 1: hundred cities by the end of the year, more than

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Speaker 1: doubling the current number. In a statement, Amazon also said

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Speaker 1: customers will be able to order perishable items. Bloomberg's anarog rana.

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Speaker 5: It looks like what they're trying to do is use

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Speaker 5: that existing logistics network and adding more capacity to it,

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Speaker 5: and then on top of that offering customers a lower

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Speaker 5: price point. So looks like mod off a marketshap gameploy

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Speaker 5: at this point.

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Speaker 1: That is Bloomberg's anarog rana from Bloomberg Intelligence. Was the

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Speaker 1: first day of trading for Digital Assetics change operator Bullish,

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Speaker 1: and it shares rallied eighty four percent. Here is Anthony Hughes,

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Speaker 1: Bloomberg's Equity Capital Markets reporter.

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Speaker 6: This is a company that has a crypto exchange which

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Speaker 6: has had explosive growth over a relatively short period of time.

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Speaker 6: But it also is a business that owns a lot

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Speaker 6: of digital assets. So it has two point seven billion

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Speaker 6: of cryptocurrency, which offers a bit of a cushion. Here

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Speaker 6: for investors.

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Speaker 1: That is Bloomberg's Anthony Hughes now Bullish offers crypto's spot

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Speaker 1: trading along with margin trading and derivatives trading, with a

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Speaker 1: focus on institutional investors. And that is news when you

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Speaker 1: want it with Bloomberg News. Now, I'm Doug Prisoner and

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Speaker 1: this is Bloomberg