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Speaker 1: News when you wanted with Bloomberg News Now, I'm Brian Curtis.

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Speaker 1: FED Chief Jerome Powell has signaled the FED may wait

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Speaker 1: longer than expected to cut interest rates. Powell pointed to

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Speaker 1: the lack of progress made on inflation since last year's

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Speaker 1: rapid decline.

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Speaker 2: So we've said at the FOMC that will need greater

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Speaker 2: confidence that inflation is moving sustainably toward two percent before

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Speaker 2: it be appropriate to ease policy. We took that cautious

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Speaker 2: approach and sought that greater confidence so as not to

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Speaker 2: overreact to the string of low inflation readings that we

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Speaker 2: had in the second half of last year.

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Speaker 1: Fedchaer J. Powell in Washington. FED Vice Chair Philip Jefferson

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Speaker 1: expects inflation to continue moderating with interest rates at their

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Speaker 1: current level. Chinese President Shi Jinping has pushed back against

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Speaker 1: pressure to rein in what the US and Europe see

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Speaker 1: has over capacity in manufacturing in China. Bloomberg Juan Wong

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Speaker 1: has more from Hong Kong.

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Speaker 3: She told German Chancellor ol Off Schultz. The surge and

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Speaker 3: clean technology experts from China has helped the world tackle inflation. Esays.

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Speaker 3: The exports have also helped the world transition to green technology.

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Speaker 3: His comments suggest China will not be swayed by a

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Speaker 3: push by the West for a reduction in manufacturing output.

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Speaker 3: Tensions between China and both at US and Europe are

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Speaker 3: mounting over trade. In recent weeks, the EU has launched

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Speaker 3: probes into electric vehicles and wind parks, and may soon

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Speaker 3: include medical devices. In a separate meeting with Schultz, Chinese

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Speaker 3: Premier Li Chang pushed back against perceived unfair market treatment.

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Speaker 3: These aid industrial subsidies are a common practice in the world.

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Speaker 3: In Hong Kong, Joanne Wang Bloomberg Radio.

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Speaker 1: In other news, the IMF has raised its estimates for

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Speaker 1: global growth this year. It cited strength in the US

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Speaker 1: and some emerging markets. It said global economic activity would

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Speaker 1: expand three point two percent in twenty twenty four. That's

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Speaker 1: up zero point one percentage point from its estimate back

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Speaker 1: in January. The IMF boosted its outlook for US growth

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Speaker 1: to two point seven percent this year. That's up from

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Speaker 1: two point one percent, but it downgraded the Euro Area,

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Speaker 1: and it said that China would grow four point six

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Speaker 1: percent this year, unchanged from the January forecast. In the meantime,

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Speaker 1: the IMF also warned US policymakers. It said stand out

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Speaker 1: US growth was in part driven by an unsustainable fiscal policy.

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Speaker 1: The US will impose new sanctions on Iran, targeting the

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Speaker 1: country's missile and drone program, thus following Iran's weekend attack

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Speaker 1: on Israel that threatened to push the Middle East into

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Speaker 1: a wider conflict. We get more from Bloomberg's Erica Herskowitz.

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Speaker 4: White House National Security Advisor Jake Sullivan said Tuesday sanctions

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Speaker 4: would be unveiled in the coming days, and added the

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Speaker 4: US's coordinating with Group of Seven Nations and other partners

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Speaker 4: on a comprehensive response. The US will also announce sanctions

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Speaker 4: against entities supporting the Islamic Revolutionary Guard Corps and Iran's

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Speaker 4: defense ministry, and expect allies to follow Iran's drone and

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Speaker 4: missile attack on Israel over the weekend. He didn't cause

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Speaker 4: any fatalities or serious damage after being largely intercepted by

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Speaker 4: Israeli defense systems alongside US, UK and French military assets.

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Speaker 4: Erka Herskowitz Bloomberg Radio.

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Speaker 1: Meantime, House speaker Mike Johnson is planning separate votes this

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Speaker 1: week on aid to Israel and Ukraine. He's hoping that

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Speaker 1: breaks the deadlock on Capitol Hill after Iran's weekend attack

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Speaker 1: on Israel. Bloomberg's Jody Schneider with details from Washington.

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Speaker 5: The Senate voted for that aid. It's been sitting at

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Speaker 5: the House, so now apparently Speaker Johnson is going to

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Speaker 5: have separate votes on that, hoping that given this feeling

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Speaker 5: that there's some urgent need for Israel AID, to go ahead,

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Speaker 5: do that first, then go ahead and do Ukraine AID,

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Speaker 5: and then actually vote on two other bills, one on

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Speaker 5: aid for Taiwan and one on some measures to kind

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Speaker 5: of punish Russia.

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Speaker 1: Former President Trump is set to have dinner with a

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Speaker 1: high profile politician while he's in New York. Bloomberg's Nathan

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Speaker 1: Hager has more Washington.

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Speaker 6: The former president plans to host Polish President Andre Dudah

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Speaker 6: for dinner at Trump Tower tomorrow night. That's what sources

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Speaker 6: are telling Bloomberg News. The visit is not on Dudah's

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Speaker 6: official schedule, but it does include meetings with UN Secretary

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Speaker 6: General Antonio Guterrez and Canadian Prime Minister Justin Trudeau. Dudah

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Speaker 6: will be the second Eastern European leader in as many

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Speaker 6: months to meet with the presumptive Republican presidential nominee. Hungary's

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Speaker 6: Prime Minister, Victor Orbin paid a visit to Trump's Marra

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Speaker 6: A Lago resort in Florida last month. In Washington, I'm

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Speaker 6: Nathan Hager Bloomberg Radio.

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Speaker 1: That's news when you want it With Bloomberg News Now,

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Speaker 1: I'm Brian Curtis, and this is Bloomberg