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

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Speaker 1: Amy Morris. A panel of new vaccine advisors picked by

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Speaker 1: Health Secretary Robert F. Kennedy Junior, has voted to end

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Speaker 1: the Centers for Disease Control and Preventions universal recommendation that

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Speaker 1: people of all ages get COVID shots. They've essentially shifted

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Speaker 1: that decision from a personal one to one that you

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Speaker 1: have to make in coordination with your doctor. Congress has

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Speaker 1: moved closer to an October first government shutdown as Senate

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Speaker 1: Democrats and Republicans blocked each other's plans to provide temporary funding.

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Speaker 1: Democrats are demanding a boost to healthcare spending. Republicans refuse

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Speaker 1: to go along and back a simple bill to keep

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Speaker 1: the government running through November twenty first. Senate Democratic Leader

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Speaker 1: Chuck Schumer says time is running out.

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Speaker 2: Shutdown is devastating to Americans.

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Speaker 3: Democrats are doing everything we can to sit down and negotiate.

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Speaker 2: We do not want to shut down. Our position has

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Speaker 2: never changed.

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Speaker 1: Things get more complicated as the Senate leaves for a

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Speaker 1: week long break, meaning they will not return to Washington

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Speaker 1: until September twenty ninth, and funding deadline is October first.

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Speaker 1: President Trump says he'll meet with Chinese President Chijin being

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Speaker 1: on the sidelines of the upcoming Asia Pacific Economic Cooperation Summit,

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Speaker 1: and he hailed the progress made toward finalizing a deal

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Speaker 1: over TikTok. The two leaders spoke by phone today, their

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Speaker 1: first conversation since June. Trump says he plans to visit

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Speaker 1: China next year. The UN is preparing emergency measures to

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Speaker 1: slash global peacekeeping operations if funding doesn't come through. UN

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Speaker 1: Secretary General Antonio Guterra's plans to meet with President Trump

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Speaker 1: during the UN General Assembly meeting in New York.

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Speaker 4: People impacted by the cuts suffer less food distributed, less

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Speaker 4: vaccines distributed, less hivh treatment distributed.

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Speaker 1: The impact is not in the UN. The impact is

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Speaker 1: in those.

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Speaker 4: That benefit from the action of our humanitarian development agencies.

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Speaker 1: Here more of our interview with the UN Secretary General

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Speaker 1: Antonio Guterra's and the Bloomberg Talks podcast. The Central Bank

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Speaker 1: lowered its benchmark great by a quarter percentage point, as expected,

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Speaker 1: and then penciled in two more such moves this year.

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Speaker 1: Now we're hearing from FED officials. New FED Governor Stephen

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Speaker 1: Myron says he will not issue a standard written descent,

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Speaker 1: explaining his interest rate vote earlier this week, he was

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Speaker 1: the only one who voted against that quarter point cut.

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Speaker 1: Myron argued for a fifty basis point cut. He tells

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Speaker 1: CNBC it would be too much to explain in writing,

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Speaker 1: so he'll speak about it at the Economic Club of

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Speaker 1: New York on Monday.

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Speaker 3: This coming Monday, I'm going to be making a speech

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Speaker 3: where I'm going to give a full accounting for my

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Speaker 3: economic views and walk through a meticulous detail the economics

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Speaker 3: and the arithmetic behind getting to those numbers. People usually

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Speaker 3: write these descents in the sense, are you know, like

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Speaker 3: a page long, right, I'm going to walk through a

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Speaker 3: lot of economics and a lot of arithmetic and a

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Speaker 3: lot of math, and that's going to take a full

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Speaker 3: speech to do. So we're going to get a full

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Speaker 3: accounting of that on Monday.

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Speaker 1: Myron says his decision to dissent was driven by his

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Speaker 1: view that the president's tariff policies have had no material

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Speaker 1: impact on inflation, and the Fed's decision is getting solid

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Speaker 1: marks from Formers Lewis. FED President James Bullard. He's one

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Speaker 1: of the candidates who might succeed j Powell as chair

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Speaker 1: next year.

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Speaker 2: I thought the Fed's decision was a good one. Looks

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Speaker 2: like a sequence of three moves in a row through

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Speaker 2: the end of the year. Of course, you want to

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Speaker 2: be data dependent and chair stress that.

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Speaker 1: Bullard was a guest on Bloomberg Surveillance. You can watch

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Speaker 1: the full conversation on the Bloomberg Podcasts page on YouTube.

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Speaker 1: Minneapolis Fed President Neil Kashkari supported the move and penciled

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Speaker 1: in two additional cuts for the year, saying the FED

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Speaker 1: needs to make their reasoning clear.

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Speaker 5: I don't see the erosion yet, thankfully it's not there

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Speaker 5: in the data, but it's something that we need to

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Speaker 5: work extra hard to explain to the public why we're

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Speaker 5: making the action that we're making, why we're cutting rates

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Speaker 5: right now in light of the elevated inflation that we've

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Speaker 5: all been experiencing for four years.

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Speaker 1: Kushkari tel CNBC this week's cut and any coming reductions

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Speaker 1: are insurance to keep the labor market from falling dramatically

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Speaker 1: while inflationary dynamics play out. Stock still heading to all

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Speaker 1: time highs. We check the markets for you all day

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Speaker 1: long here at Bloomberg. The S and P five hundred

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Speaker 1: up four tenths seven percent, NASDAC up a little more

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Speaker 1: than a half percent, in the Dow up about four

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Speaker 1: tenth seven percent, the ten year treasury yield at four

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Speaker 1: point one three percent and the two year yield at

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Speaker 1: three point five to seven percent, and Apple's newest line

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Speaker 1: of iPhones went on sale around the globe today. Shares

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Speaker 1: of Apple right now more than three percent higher. Bloomberg

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Speaker 1: News is reporting Late Night TV host Jimmy Kimmel met

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Speaker 1: with Disney executives yesterday and that the soonest that show

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Speaker 1: could return to air is September twenty second. They are

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Speaker 1: reportedly discussing the fate of the show and whether Kimmel

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Speaker 1: should issue an apology. FCC Commissioner Anagomez says ABC's decision

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Speaker 1: to suspend Jimmy Kimmel amounted to a surrender.

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Speaker 4: What we are saying is this administration use whatever levers

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Speaker 4: of power it has in order to bring broadcasters to

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Speaker 4: heal and the news media in direct violation of the

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Speaker 4: First Amendment, which guarantees a freedom of speech.

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Speaker 1: Hear that entire interview with the fccs Ana Gomez on

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Speaker 1: the Bloomberg Talks podcast. President Trump is expected to sign

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Speaker 1: a proclamation to overhaul the H one B visa program,

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Speaker 1: requiring a one hundred thousand dollars fee for applications. The

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Speaker 1: President also plans to order the Labor Secretary to revise

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Speaker 1: prevailing wage levels for the H one B program to

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Speaker 1: limit the use of visas to undercut wages that would

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Speaker 1: otherwise be paid to American workers. Trump administration officials are

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Speaker 1: reportedly in discussions with the Taliban about re establishing a

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Speaker 1: small US military presence at Afghanistan's Bagram Air Base. Sources

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Speaker 1: tell The Wall Street Journal that base would then serve

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Speaker 1: as a launch point for counter terrorism operations. The surprise

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Speaker 1: announcement from President Trump is one potential component of a

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Speaker 1: broader diplomatic effort to normalize relations with the Taliban. That's

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

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Speaker 1: Amy Morris. This is Bloomberg