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

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Speaker 1: Doug Prisner.

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Speaker 2: Today.

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Speaker 1: President Trump addressed the issue of affordability earlier, speaking to

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Speaker 1: a crowd in Pennsylvania, the President touted his tariff policies.

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Speaker 1: Here's Trump.

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Speaker 3: It's trillions of dollars, not billions of dollars, right, So

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Speaker 3: it's amazing. It's the smart people understand it. Other people

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Speaker 3: are starting to learn, but the smart people really understand it.

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Speaker 1: That was President Trump speaking earlier in Pennsylvania. Now, his

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Speaker 1: remarks come as recent day to show Americans are feeling

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Speaker 1: squeezed by higher prices. The equity market ended little changed

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Speaker 1: in front of the fed's final interest rate decision of

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Speaker 1: twenty twenty five. Here's Bloomberg's Michael McKee.

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Speaker 4: Well ibeto all Street is it a FED chair of

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Speaker 4: j POWLLL is going to try to suggest that this

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Speaker 4: was the last insurance cut that they're going to take

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Speaker 4: out for a while, that they will probably pause in

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Speaker 4: January to see where the economy is. Of course, they

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Speaker 4: don't have a great idea yet because we're still missing

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Speaker 4: a lot of data. But they're beginning to get to

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Speaker 4: the point where some people think they're at neutral, and

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Speaker 4: if they were to cut anymore, they'd be over stimulative,

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Speaker 4: and inflation is certainly not back to their target. So

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Speaker 4: this may be the last one. That's kind of I

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Speaker 4: think going to be the message from mister Powell.

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Speaker 1: That is Bloomberg's Michael McKee. Meantime, President Trump will reportedly

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Speaker 1: launch the last round of interviews for fed share this week.

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Speaker 1: The FT is saying it will pit White House Economic

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Speaker 1: advisor Kevin Hassett against a trio of other candidates. Now

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Speaker 1: Hassett is considered to be the front runner. Today, President

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Speaker 1: Trump was asked to comment on that FT report.

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Speaker 3: We're going to be looking at a couple of different people,

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Speaker 3: but I have a pretty good idea who I wanted.

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Speaker 1: That was President Trump, speaking to reporters earlier. Aboard Air

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Speaker 1: Force one, SpaceX is moving ahead with plans for an IPO,

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Speaker 1: perhaps as soon as mid to late twenty twenty six. Now,

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Speaker 1: the company would seek to raise significantly more than thirty

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Speaker 1: billion dollars. We are told SpaceX is targeting a value

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Speaker 1: for the entire company of around one and a half

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Speaker 1: trillion dollars. Now, SpaceX is expecting to use some of

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Speaker 1: these funds to develop space based data centers, including purchasing

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Speaker 1: the chips required to run them. Here is Bloomberg's Eric Johnson.

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Speaker 2: Over the years, SpaceX executives have talked about an IPO,

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Speaker 2: and the idea was is that, you know, they as

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Speaker 2: they become cashflow positive, they could spin off Starlink as

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Speaker 2: its own IPO. It's more of a consumer tech play.

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Speaker 2: But the plans have change. And if you look at

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Speaker 2: the growth of SpaceX and you look at not just

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Speaker 2: becoming the most prolific launch rocket launch company on Earth,

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Speaker 2: but now they've got plans for their gigantic starship.

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Speaker 1: That is Bloomberg's Eric Johnson. We are getting more details

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Speaker 1: on President Trump's move to allow Nvidia to sell its

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Speaker 1: H two hundred chips to China. We were total the

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Speaker 1: administration felt the move carried a lower security risk because

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Speaker 1: China's Huahwei Technology already offered AI systems with compo performance.

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Speaker 1: Here is bloomberg s Ed Ludlow.

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Speaker 5: The President was presented with a range of options from

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Speaker 5: send the absolute latest technology and flood the Chinese market

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Speaker 5: to suffocate Harway's ability to develop its own tech stack

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Speaker 5: there right through to do nothing at all, allow no

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Speaker 5: technology to go even if deprecated. The H two hundred

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Speaker 5: decision is seen as a kind of best case scenario

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Speaker 5: because even though it is eighteen months behind Blackwell generation

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Speaker 5: at the cutting edge, it is enough where it makes

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Speaker 5: it attractive for Chinese technology companies to use.

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Speaker 1: That is Bloomberg's Ed Ludlow. Now, the President met privately

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Speaker 1: with Nvidia CEO Jensen Huang before making that decision, and

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Speaker 1: Huang pressed for relief from US export controls. In Miami,

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Speaker 1: Democrat Eileen Higgins has won the race for mayor. She

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Speaker 1: defeated a Republican endorsed by President Trump. Now this victory

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Speaker 1: is providing Democrats with some momentum heading into next year's

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Speaker 1: high stakes midterms. GOP is looking to keep its grip

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Speaker 1: on Florida. In Kentucky, one student was killed and another

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Speaker 1: is in critical but stable condition after a shooting at

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Speaker 1: a residence hall at Kentucky State University. Officials say the

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Speaker 1: suspect is in custody. Here is Kentucky Governor Andy Basher.

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Speaker 6: This was not a mass shooting or a random incident

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Speaker 6: based on what I've been told, and the suspected shooter

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Speaker 6: is already in custody. That means that while this was scary.

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Speaker 6: There is no ongoing threat, and I believe our families

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Speaker 6: are safe.

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Speaker 1: Kentucky Governor Andy Basheer, And that is news when you

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Speaker 1: want it with Bloomberg News. Now I'm the prisoner and

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Speaker 1: this is Bloomberg