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

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Speaker 1: We begin with news on the situation in Gaza. A

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Speaker 1: short while ago, on truth Social President Trump posted this,

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Speaker 1: Israel has agreed to the necessary conditions to finalize the

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Speaker 1: sixty day cease fire, during which time we will work

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Speaker 1: with all parties to end the war. The President also

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Speaker 1: warned Hamas to accept the terms before conditions worsen. We

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Speaker 1: go to Washington next, where the Senate narrowly passed President

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Speaker 1: Trump's tax and spending bill. The vote was fifty one

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Speaker 1: p fifty, with Vice President jd Vance breaking a tie. Now,

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Speaker 1: this bill has four and a half trillion dollars in

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Speaker 1: tax cuts and one point two trillion dollars in spending cuts.

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Speaker 1: House Speaker Mike Johnson admits there are members of Congress

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Speaker 1: who have concerns about this bill.

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Speaker 2: We have members across the conference who have concerns about

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Speaker 2: various provisions of the bills. But a lot of people

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Speaker 2: didn't get what they wanted. They didn't get they didn't

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Speaker 2: think some savings went as far as as they should

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Speaker 2: have gone, or that maybe some of the cuts went

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Speaker 2: too far. I mean, it depends upon who you ask

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Speaker 2: the have different opinions, but that's the beauty of a

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Speaker 2: large de liberative body, lots of different priorities and opinions

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Speaker 2: and districts represented.

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Speaker 1: That was House Speaker Mike Johnson speaking there. He went

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Speaker 1: on to say that he will do everything possible to

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Speaker 1: get the President's bill passed by July fourth. We also

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Speaker 1: heard from Miya McGuinness. She is the president of the

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Speaker 1: Committee for a Responsible Federal Budget and she says the

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Speaker 1: increase to the national debt could top four trillion dollars.

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Speaker 3: I think it will probably pass, but I do think

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Speaker 3: there's a big question about whether the House is going

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Speaker 3: to say, no, we're not going with the Senate version,

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Speaker 3: and we're going to need to go back to our

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Speaker 3: version and work out those differences.

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Speaker 1: She is Mia mcguinnis the president of the Committee for

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Speaker 1: a Responsible Federal Budget. Also today, President Trump saying that

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Speaker 1: he is not considering a delay of his July ninth

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Speaker 1: deadline for higher tariffs to resume. He threatened to cut

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Speaker 1: off trade talks and impose tariff rates on several nations,

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Speaker 1: including Japan. Here is Trump speaking earlier to reporters aboard

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Speaker 1: Air Force One.

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Speaker 3: I'm not thinking about the Post.

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Speaker 2: I'll be writing letters to a lot of countries, and

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Speaker 2: I think you just starting to understand the process.

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Speaker 4: We've dealt with Japan.

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Speaker 3: I'm not sure we're going to make it doubted with Japan,

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Speaker 3: they're very tough.

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Speaker 1: Trump criticized Tokyo for not accepting US rice exports, and

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Speaker 1: he called auto trade between the US and Japan imbalanced.

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Speaker 1: We go to New York City next, where the jury

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Speaker 1: in the sex trafficking trial of music mogul Sean didy

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Speaker 1: Kom says it has reached a verdict on four or

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Speaker 1: five counts. However, jurors were unable to reach a decision

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Speaker 1: on count one racketeering and conspiracy. Now the jury is

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Speaker 1: set to continue deliberations tomorrow. Here is Robert Mintz's partner

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Speaker 1: at Macarter and English.

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Speaker 3: It's not surprising that this has been the most difficult

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Speaker 3: charge for the jurors to reach. The unanimous verdict on

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Speaker 3: the racketeering charge was always the most challenging for prosecutors.

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Speaker 3: It requires proof of at least one other person acting

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Speaker 3: in conspiracy with mister Colmbs to commit two crimes or

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Speaker 3: predicate acts in furtherance of a racketeering enterprise.

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Speaker 1: That is former federal prosecutor Robert Mintz, who is now

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Speaker 1: a partner at Macarter and English. By the way, that

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Speaker 1: count one charge falls under the Racketeer, Influenced and Corrupt

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Speaker 1: Organizations Act or RICO. It's best known for being used

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Speaker 1: in organized crime and drug cartel cases. FED Chair J.

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Speaker 1: Powell says the Central Bank would likely have already cut

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Speaker 1: interest rates this year if not for President Trump's use

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Speaker 1: of tariffs. Even so, Powell is not ruling out a

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Speaker 1: rate cut in July. Here he is speaking at the

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Speaker 1: European Union Central Bank Forum in Central Portugal.

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Speaker 4: It's going to depend on the data, and we are

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Speaker 4: going meeting by meeting. I mentioned you know how I'm

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Speaker 4: thinking about that, but wouldn't take any meeting off the

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Speaker 4: table or put it directly on the table. It's going

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Speaker 4: to depend on how the data evolved.

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Speaker 1: That is Fedshair J. Powell. Now, despite political pressure to

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Speaker 1: move on rates, Powell said he's focused on maintaining the

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Speaker 1: fed's dual mandate. Now, despite political pressure from President Trump

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Speaker 1: to cut interest rates, Powell said he's focused on maintaining

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Speaker 1: the fed's dual mandate. By the way, the fed's next

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Speaker 1: meeting is July twenty ninth and thirtieth in Washington. And

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Speaker 1: that is news when you want it. With Bloomberg News Now,

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Speaker 1: I'm Doug Chrisner, and this is Bloomberg