1
00:00:01,480 --> 00:00:03,600
Speaker 1: News when you want it. With Bloomberg News Now, I'm

2
00:00:03,640 --> 00:00:06,240
Speaker 1: Doug Krisner, and we begin with a conflict in the

3
00:00:06,280 --> 00:00:10,480
Speaker 1: Middle East. Senior US officials are preparing for the possibility

4
00:00:10,600 --> 00:00:13,119
Speaker 1: of a strike on Iran in the coming days. We

5
00:00:13,160 --> 00:00:17,160
Speaker 1: are being told there are potential plans for a weekend strike,

6
00:00:17,239 --> 00:00:21,800
Speaker 1: although this situation is evolving. Earlier today, speaking to reporters,

7
00:00:21,840 --> 00:00:25,320
Speaker 1: President Trump remained coy about whether the US would join

8
00:00:25,760 --> 00:00:26,800
Speaker 1: Israel's offensive.

9
00:00:27,160 --> 00:00:28,840
Speaker 2: I have ideas as to what to do, but I

10
00:00:28,840 --> 00:00:29,640
Speaker 2: haven't Madinal.

11
00:00:29,720 --> 00:00:32,200
Speaker 3: I like to make the final decision one second before

12
00:00:32,240 --> 00:00:34,000
Speaker 3: it's due, you know, because things change, I.

13
00:00:33,960 --> 00:00:35,480
Speaker 4: Mean, especially with war.

14
00:00:35,560 --> 00:00:36,600
Speaker 2: Things change with war.

15
00:00:36,640 --> 00:00:38,960
Speaker 5: It can go from one extreme to the other.

16
00:00:39,560 --> 00:00:44,160
Speaker 1: That was President Trump speaking there. Meantime, GOP lawmakers addressed

17
00:00:44,200 --> 00:00:48,000
Speaker 1: the sixth day of aerial attacks between Israel and Iran.

18
00:00:48,080 --> 00:00:51,320
Speaker 1: Here is South Carolina Republican Senator Lindsay Graham.

19
00:00:51,680 --> 00:00:54,880
Speaker 6: Israel has done an amazing job to control these guys.

20
00:00:55,600 --> 00:00:58,680
Speaker 6: We have one facility, would be hard to Israel to

21
00:00:58,760 --> 00:01:02,640
Speaker 6: hit without our help. We'll see what the prosduct does.

22
00:01:02,680 --> 00:01:07,440
Speaker 6: But I've never felt better about the end of the

23
00:01:07,480 --> 00:01:10,440
Speaker 6: Iran nuclear program is very close.

24
00:01:11,360 --> 00:01:14,560
Speaker 1: That was South Carolina Senator Lindsay Graham. We go to

25
00:01:14,600 --> 00:01:19,160
Speaker 1: monetary policy next. FED officials left interest rates unchanged today,

26
00:01:19,240 --> 00:01:22,320
Speaker 1: and they are still penciling in two rate cuts this year.

27
00:01:22,600 --> 00:01:26,119
Speaker 1: They say uncertainty over the economic outlook was still high,

28
00:01:26,440 --> 00:01:29,360
Speaker 1: but it had diminished. And at the same time, FED

29
00:01:29,360 --> 00:01:33,039
Speaker 1: officials lowered their estimates for economic growth this year, and

30
00:01:33,120 --> 00:01:37,280
Speaker 1: they raise forecast for both unemployment and inflation. Here is

31
00:01:37,280 --> 00:01:39,800
Speaker 1: Fedshair J. Powell in support of our goals.

32
00:01:39,840 --> 00:01:42,680
Speaker 5: Today, the Federal Open Market Committee decided to leave our

33
00:01:42,720 --> 00:01:47,000
Speaker 5: policy interest rate unchanged. We believe that the current stance

34
00:01:47,040 --> 00:01:50,760
Speaker 5: of monetary policy leaves us well positioned to respond in

35
00:01:50,800 --> 00:01:53,280
Speaker 5: a timely way to potential economic development.

36
00:01:53,360 --> 00:01:56,280
Speaker 1: That is Fedshaired J. Powell speaking there. And we got

37
00:01:56,320 --> 00:01:59,960
Speaker 1: reaction to the Fed's decision from former FED Vice Chairs

38
00:02:00,040 --> 00:02:00,840
Speaker 1: Richard Clarida.

39
00:02:00,920 --> 00:02:04,040
Speaker 7: It is a Davish lean from the committee. I do

40
00:02:04,160 --> 00:02:06,600
Speaker 7: know that apparently they took out one cut next year,

41
00:02:06,640 --> 00:02:08,960
Speaker 7: but that's way down the road, so they still have

42
00:02:09,040 --> 00:02:12,040
Speaker 7: those two cuts in even though they see more inflation

43
00:02:12,200 --> 00:02:13,920
Speaker 7: than they did in March.

44
00:02:14,160 --> 00:02:18,080
Speaker 1: That is former FED Vice Chair Richard clarat Is speaking there. Meantime,

45
00:02:18,120 --> 00:02:21,480
Speaker 1: President Trump once again criticized FED Chair J. Powell for

46
00:02:21,520 --> 00:02:24,959
Speaker 1: his refusal to lower interest rates. And we heard from

47
00:02:24,960 --> 00:02:29,840
Speaker 1: Massachusetts Democratic Senator Elizabeth Warren. She stressed the importance of

48
00:02:29,880 --> 00:02:33,400
Speaker 1: an independent FED. Warren spoke with Bloomberg's Balance of Power.

49
00:02:33,840 --> 00:02:38,519
Speaker 3: Donald Trump has really crowded the FED into pretty much

50
00:02:38,520 --> 00:02:43,639
Speaker 3: an untenable position. The FED raises rates and they further

51
00:02:43,880 --> 00:02:46,760
Speaker 3: soften the job market. They lower rates, and they run

52
00:02:46,800 --> 00:02:51,640
Speaker 3: the risk of igniting inflation. And that's the problem they've

53
00:02:51,639 --> 00:02:54,720
Speaker 3: got right now. And it's all self inflicted because of

54
00:02:54,760 --> 00:02:55,840
Speaker 3: what Donald Trump has.

55
00:02:55,760 --> 00:02:56,200
Speaker 6: Been up to.

56
00:02:56,440 --> 00:03:00,760
Speaker 1: Elizabeth Warren there, the Democratic senator from Massachusetts. The Trump

57
00:03:00,760 --> 00:03:04,120
Speaker 1: administration is urging the Supreme Court to turn away a

58
00:03:04,200 --> 00:03:08,080
Speaker 1: request for fast track review of the president's tariffs. The

59
00:03:08,120 --> 00:03:12,120
Speaker 1: administration said that justices should give lower courts more time

60
00:03:12,200 --> 00:03:15,919
Speaker 1: to weigh in. Here's Bloomberg's Greg store yesterday.

61
00:03:16,160 --> 00:03:19,200
Speaker 4: One of the challengers to companies that make educational toys.

62
00:03:19,600 --> 00:03:22,680
Speaker 4: They had won a federal district judge ruling a few

63
00:03:22,720 --> 00:03:25,760
Speaker 4: weeks ago, and they urged the Supreme Court not to

64
00:03:25,800 --> 00:03:28,480
Speaker 4: wait for a federal appeals court to review their case,

65
00:03:28,760 --> 00:03:32,720
Speaker 4: but to bypass that stage and take up their challenge

66
00:03:32,840 --> 00:03:35,760
Speaker 4: right away so that we could get a ruling, maybe

67
00:03:35,800 --> 00:03:37,200
Speaker 4: as early as this fall.

68
00:03:37,640 --> 00:03:41,000
Speaker 1: And that is Bloomberg's Gregg's Store. Microsoft is planning to

69
00:03:41,040 --> 00:03:45,280
Speaker 1: cut thousands of jobs, particularly in sales more from Bloomberg's

70
00:03:45,320 --> 00:03:46,040
Speaker 1: Charlie Pellett.

71
00:03:46,480 --> 00:03:49,680
Speaker 2: It's part of the company's latest move to Trimmitt's workforce

72
00:03:49,720 --> 00:03:54,440
Speaker 2: amid heavy spending on artificial intelligence. Sources tell Bloomberg. The

73
00:03:54,480 --> 00:03:57,360
Speaker 2: cuts are expected to be announced early next month, following

74
00:03:57,400 --> 00:04:01,360
Speaker 2: the end of Microsoft's fiscal year. Say the reductions will

75
00:04:01,360 --> 00:04:05,880
Speaker 2: not exclusively affect sales teams, and the timing could still change.

76
00:04:06,320 --> 00:04:09,480
Speaker 2: The terminations would follow a previous round of layoffs in

77
00:04:09,520 --> 00:04:12,800
Speaker 2: May that hit six thousand people and fell hardest on

78
00:04:12,920 --> 00:04:16,200
Speaker 2: product and engineering positions in New York.

79
00:04:16,320 --> 00:04:19,920
Speaker 1: Charlie Pellett, Bloomberg Radio and we go to Sports next.

80
00:04:20,040 --> 00:04:23,400
Speaker 1: The Bus family has agreed to sell majority ownership of

81
00:04:23,440 --> 00:04:26,320
Speaker 1: the Los Angeles Lakers. We are told the buyer is

82
00:04:26,480 --> 00:04:30,560
Speaker 1: Mark Walter, the CEO of Guggenheim Partners. Genie Buss will

83
00:04:30,600 --> 00:04:33,880
Speaker 1: continue to serve in the role of governor after the sale.

84
00:04:34,120 --> 00:04:38,320
Speaker 1: Walter has interest in multiple professional sports teams. They include

85
00:04:38,600 --> 00:04:42,359
Speaker 1: the Los Angeles Dodgers and the Los Angeles Sparks. And

86
00:04:42,440 --> 00:04:44,680
Speaker 1: That is News when you want it with Bloomberg News. Now,

87
00:04:44,760 --> 00:04:46,760
Speaker 1: I'm Doug Krisner, and this is Bloomberg