1 00:00:01,639 --> 00:00:10,160 Speaker 1: Bloomberg Audio Studios, podcasts, radio, news. 2 00:00:09,800 --> 00:00:13,120 Speaker 2: News When You Wanted with Bloomberg News. Now, President Biden 3 00:00:13,280 --> 00:00:17,440 Speaker 2: is weighing a unilateral attempt to tighten migrant rules. Bloomberg's 4 00:00:17,520 --> 00:00:18,919 Speaker 2: Ed Baxter has the story. 5 00:00:19,160 --> 00:00:23,759 Speaker 3: The administration is considering executive action, including curbing asylum claims 6 00:00:23,800 --> 00:00:27,240 Speaker 3: by migrants crossing the southern border. This while the President's 7 00:00:27,240 --> 00:00:30,240 Speaker 3: continuing to call on Congress to get border and aid 8 00:00:30,320 --> 00:00:34,400 Speaker 3: packages passed. Any unilateral action would include the so called 9 00:00:34,479 --> 00:00:38,280 Speaker 3: two twelve f which is very controversial and actually was 10 00:00:38,400 --> 00:00:42,040 Speaker 3: used by Donald Trump. Republicans have continually asked him to 11 00:00:42,080 --> 00:00:44,920 Speaker 3: act in this manner, and with immigration becoming the number 12 00:00:44,920 --> 00:00:47,879 Speaker 3: one issue now headed into the election, this could be 13 00:00:47,960 --> 00:00:51,080 Speaker 3: something he feels has to be done. It would face 14 00:00:51,120 --> 00:00:54,000 Speaker 3: court challenges. Ed Baxter, Bloomberg Radio. 15 00:00:54,160 --> 00:00:58,040 Speaker 2: A delegation of US lawmakers has arrived in Taiwan. The 16 00:00:58,080 --> 00:01:01,160 Speaker 2: group is led by Republican Mike Allegher and we'll meet 17 00:01:01,160 --> 00:01:04,120 Speaker 2: with President Hiing I as well as Vice President and 18 00:01:04,160 --> 00:01:07,840 Speaker 2: President elect Lyching Dubb and the incoming Number two shall 19 00:01:07,880 --> 00:01:11,200 Speaker 2: be Kim. The visit by the US lawmakers comes amid 20 00:01:11,240 --> 00:01:15,240 Speaker 2: tensions in the Taiwan Strait. This may exacerbate an already 21 00:01:15,280 --> 00:01:20,480 Speaker 2: front relationship between Taiwan and China. Commerce Secretary Genio Romando 22 00:01:20,560 --> 00:01:24,800 Speaker 2: says the US will need continued investments in semiconductor manufacturing 23 00:01:25,120 --> 00:01:29,320 Speaker 2: in order to regain leadership. The story from Bloomberg's Charlie. 24 00:01:29,040 --> 00:01:33,440 Speaker 1: Billett computing demands of artificial intelligence, adding that she had 25 00:01:33,480 --> 00:01:38,440 Speaker 1: spoken with OpenAI Chief executive officer Sam Altman, who's working 26 00:01:38,520 --> 00:01:42,200 Speaker 1: to secure US government approval for a massive venture to 27 00:01:42,280 --> 00:01:46,479 Speaker 1: boost global manufacturing of AI chips. The twenty twenty two 28 00:01:46,560 --> 00:01:50,440 Speaker 1: Chips Act set aside thirty nine billion dollars in direct 29 00:01:50,440 --> 00:01:54,600 Speaker 1: grants plus loans and loan guarantees worth seventy five billion 30 00:01:54,920 --> 00:01:59,760 Speaker 1: to revitalize domestic semiconductor production. Her remarks came during a 31 00:01:59,840 --> 00:02:03,840 Speaker 1: versevirtual appearance at an Intel event in New York. Charlie 32 00:02:03,880 --> 00:02:05,560 Speaker 1: Pellett Bloomberg Radio. 33 00:02:06,360 --> 00:02:09,280 Speaker 2: FTX founder Sam Bankman Freed will be back in court 34 00:02:09,320 --> 00:02:11,840 Speaker 2: for the first time since his conviction on a crypto 35 00:02:11,960 --> 00:02:16,560 Speaker 2: fraud charge last November. You'll face questions about possible conflicts 36 00:02:16,600 --> 00:02:21,040 Speaker 2: of interest for his lawyers. They're currently representing another crypto mogul, 37 00:02:21,280 --> 00:02:26,079 Speaker 2: former Celsia's CEO, Alex Mashinski. Bloomberg'schrist All Metch is at 38 00:02:26,120 --> 00:02:29,440 Speaker 2: the Federal Court House in Lower Manhattan. Mashinsky had his 39 00:02:29,520 --> 00:02:33,000 Speaker 2: own hearing yesterday and was asked if he wants different lawyers. 40 00:02:33,400 --> 00:02:36,919 Speaker 4: Mister Mashinski said, no problem. I'm happy to waive that right. 41 00:02:36,960 --> 00:02:39,480 Speaker 4: I understand there's some conflicts and there may be some problems, 42 00:02:40,680 --> 00:02:43,800 Speaker 4: you know, if there's overlap between the cases. But he 43 00:02:43,840 --> 00:02:45,560 Speaker 4: was willing to wave it, and I anticipate that's what'll 44 00:02:45,600 --> 00:02:48,040 Speaker 4: happen with Sam too. He wouldn't have hired these lawyers 45 00:02:48,680 --> 00:02:50,960 Speaker 4: without kind of knowing that that problem existed. 46 00:02:51,880 --> 00:02:55,760 Speaker 2: Bloomberg's christ All Metch reporting from the Federal Court in Manhattan. 47 00:02:56,120 --> 00:02:58,799 Speaker 2: Sam Bankman Freed faces up to twenty years in prison 48 00:02:58,840 --> 00:03:01,960 Speaker 2: when he is sentenced on March twenty eight. Nvidia has 49 00:03:02,000 --> 00:03:05,880 Speaker 2: delivered another strong sales forecast after the bell. The chipmaker 50 00:03:05,919 --> 00:03:08,720 Speaker 2: announced revenue in the current period would be about twenty 51 00:03:08,760 --> 00:03:12,280 Speaker 2: four billion dollars. Analysts had predicted about twenty one point 52 00:03:12,400 --> 00:03:16,800 Speaker 2: nine billion. The CEO of Nvidia, Jensenhang, said that demand 53 00:03:16,840 --> 00:03:20,040 Speaker 2: for AI related ships is surging around the world, and 54 00:03:20,120 --> 00:03:23,720 Speaker 2: Vidio reported that US restrictions cause sales in its Chinese 55 00:03:23,840 --> 00:03:27,600 Speaker 2: data center business to drop significantly. In other news. Minutes 56 00:03:27,639 --> 00:03:30,440 Speaker 2: from the last FED meetings show most officials are worried 57 00:03:30,480 --> 00:03:34,080 Speaker 2: about cutting interest rates too soon. They indicate that such 58 00:03:34,160 --> 00:03:37,520 Speaker 2: risk was greater than keeping rates elevated for too long. 59 00:03:37,960 --> 00:03:41,560 Speaker 2: Bloomberg's chief US economist is Anna Wong. She says the 60 00:03:41,560 --> 00:03:45,200 Speaker 2: minutes reveal why the FED is leaning toward higher for longer. 61 00:03:46,000 --> 00:03:49,840 Speaker 5: Part of it is that they have been surprised by 62 00:03:49,920 --> 00:03:53,640 Speaker 5: how strong the economy is relative to what they expected. 63 00:03:53,680 --> 00:03:57,040 Speaker 5: And recall that a couple days before the FOMC meeting 64 00:03:57,200 --> 00:04:00,520 Speaker 5: in January, they received the Q four GDP number, which 65 00:04:00,600 --> 00:04:03,840 Speaker 5: really surprised to the upside. And I think based on 66 00:04:03,880 --> 00:04:07,320 Speaker 5: the assessment, they're thinking that maybe the neutral rate is 67 00:04:07,360 --> 00:04:09,640 Speaker 5: in fact higher than what they thought. 68 00:04:10,160 --> 00:04:14,320 Speaker 2: Bloomberg Chief US economist Anna Wong. The minutes also indicated 69 00:04:14,360 --> 00:04:18,520 Speaker 2: growing support from policymakers for slowing the pace of shrinking 70 00:04:18,560 --> 00:04:22,440 Speaker 2: the balance sheet. China's securities regulator is said to be 71 00:04:22,560 --> 00:04:27,160 Speaker 2: barring major institutional firms from reducing their equity holdings at 72 00:04:27,160 --> 00:04:30,279 Speaker 2: the open and close of each trading day. This is 73 00:04:30,320 --> 00:04:32,359 Speaker 2: the latest move by the government to prop up the 74 00:04:32,400 --> 00:04:36,320 Speaker 2: stock market. Sources also say the China Securities Regulatory Commission 75 00:04:36,560 --> 00:04:39,800 Speaker 2: has created a task force with the nation's stock exchanges. 76 00:04:40,160 --> 00:04:43,320 Speaker 2: The task force will monitor short selling and issue warnings 77 00:04:43,360 --> 00:04:46,400 Speaker 2: to firms that profit from the wagers. That's news when 78 00:04:46,400 --> 00:04:49,159 Speaker 2: you want it with Bloomberg News Now. I'm Brian Curtis. 79 00:04:49,240 --> 00:04:50,000 Speaker 2: This is Bloomberg