Marker 02

On today's podcast:

1) Millions Head to Polls on a Day That Will Shape the November Vote

2) Apple’s iPhone Struggles in China Deepen With a 24% Sales Plunge

3) China Sets GDP Goal That Needs Policy Support ‘From All Fronts’ 

On today's podcast:
1) Millions Head to Polls on a Day That Will Shape the November Vote
2) Apple’s iPhone Struggles in China Deepen With a 24% Sales Plunge
3) China Sets GDP Goal That Needs Policy Support ‘From All Fronts’

Listen for today's top stories, with context, in just 15 minutes. Get informed from Bloomberg's 3,000 journalists and analysts.

Listen for today's top stories, with context, in just 15 minutes. Get informed from Bloomberg's 3,000 journalists and analysts.

Bloomberg Daybreak: US Edition

Super Tuesday Preview; Apple iPhone Sales Plunge in China

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/31f77b01-c9ad-4fe0-8815-b12a00ad316f/transcript

Breaking news from the White House.   

President Donald Trump said he intends to nominate Kevin Warsh to be the next chair of the Federal Reserve, according to a post on his Truth Social platform.   

“I have known Kevin for a long period of time, and have no doubt that he will go down as one of the GREAT Fed Chairmen, maybe the best,” Trump wrote. “On top of everything else, he is ‘central casting,’ and he will never let you down.”    

Warsh, who served on the US central bank’s Board of Governors from 2006 to 2011 and has previously advised Trump on economic policy, would succeed Jerome Powell when his term at the helm ends in May. It marks a comeback for Warsh, 55, whom the president passed over for the top job in 2017 when he selected Powell.   

If confirmed by the Senate, the former Fed governor will take charge of US monetary policy at a time when many economists and investors see its traditional insulation from elected officials as being under threat from the White House. Warsh aligned himself with the president in 2025 by arguing publicly for lower interest rates, going against his longstanding reputation as an inflation hawk.

Breaking news from the White House.&nbsp; &nbsp; President Donald Trump said he intends to nominate Kevin Warsh to be the next chair of the Federal Reserve, according to a post on his Truth Social platform.&nbsp; &nbsp; &ldquo;I have known Kevin for a long period of time, and have no doubt that he will go down as one of the GREAT Fed Chairmen, maybe the best,&rdquo; Trump wrote. &ldquo;On top of everything else, he is &lsquo;central casting,&rsquo; and he will never let you down.&rdquo;&nbsp; &nbsp;&nbsp; Warsh, who served on the US central bank&rsquo;s Board of Governors from 2006 to 2011 and has previously advised Trump on economic policy, would succeed Jerome Powell when his term at the helm ends in May. It marks a comeback for Warsh, 55, whom the president passed over for the top job in 2017 when he selected Powell.&nbsp; &nbsp; If confirmed by the Senate, the former Fed governor will take charge of US monetary policy at a time when many economists and investors see its traditional insulation from elected officials as being under threat from the White House. Warsh aligned himself with the president in 2025 by arguing publicly for lower interest rates, going against his longstanding reputation as an inflation hawk.

Instant Reaction: Trump Nominates Warsh for Fed Chair

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/73fafe19-8748-4e9b-9564-b3e200caeccd/transcript

Today's top stories, with context, in just 15 minutes.

On today's podcast:
1) The Trump administration is preparing for the president to nominate Kevin Warsh to be the next Federal Reserve chair, according to people familiar with the matter. President Trump said Thursday he plans to announce his pick to lead the US central bank on Friday morning. The people, who requested anonymity to discuss matters not yet public, cautioned that the selection is not final until Trump makes a formal announcement. The White House and Warsh did not immediately respond to requests for comment. Warsh, a former Fed governor and one of the four finalists on Trump’s shortlist to be the next central bank leader, visited the White House on Thursday, one person said.
2) President Trump and Senate Democrats have reached a tentative deal to avert a disruptive US government shutdown as the White House continues to negotiate with the Democrats on placing new limits on immigration raids that have provoked a national outcry. Trump announced that an agreement had been reached and urged both parties to vote for it. However, lawmakers are almost certain to fail to enact the measure before a Friday night deadline. While a short funding lapse and partial government shutdown is now seen as the most likely scenario, the effect on federal operations would be minimal if it’s swiftly resolved within a couple days.
3) The Trump administration is seeking to scale down the number of federal officers in Minneapolis after the killing of two US citizens during immigration raids sparked a nationwide uproar and weeks of protests. Tom Homan, the administration’s “border czar,” said Thursday at a press conference in Minneapolis that officials from Customs and Border Protection and Immigration and Customs Enforcement are working on a “draw down plan” that hinges on cooperation from local, state and federal officials.

Today's top stories, with context, in just 15 minutes. On today's podcast: 1) The Trump administration is preparing for the president to nominate&nbsp;Kevin Warsh&nbsp;to be the next Federal Reserve chair, according to people familiar with the matter. President Trump&nbsp;said Thursday he plans to announce his pick to lead the US central bank on Friday morning. The people, who requested anonymity to discuss matters not yet public, cautioned that the selection is not final until Trump makes a formal announcement. The White House and Warsh did not immediately respond to requests for comment. Warsh, a former Fed governor and one of the four finalists on Trump&rsquo;s shortlist to be the next central bank leader, visited the White House on Thursday, one person said. 2) President&nbsp;Trump&nbsp;and Senate Democrats have reached a tentative deal to avert a disruptive US government&nbsp;shutdown&nbsp;as the White House continues to negotiate with the Democrats on placing new limits on immigration raids that have provoked a national outcry. Trump announced that an agreement had been reached and urged both parties to vote for it. However, lawmakers are almost certain to fail to enact the measure before a Friday night deadline. While a short funding lapse and partial government&nbsp;shutdown&nbsp;is now seen as the most likely scenario, the effect on federal operations would be minimal if it&rsquo;s swiftly resolved within a couple days. 3) The Trump administration is seeking to scale down the number of federal officers in Minneapolis after the killing of two US citizens during immigration raids sparked a nationwide uproar and weeks of protests. Tom Homan, the administration&rsquo;s &ldquo;border czar,&rdquo; said Thursday at a press conference in Minneapolis that officials from Customs and Border Protection and Immigration and Customs Enforcement are working on a &ldquo;draw down plan&rdquo; that hinges on cooperation from local, state and federal officials.

Trump Administration Prepares for Warsh Fed Chair Nod; Government Shutdown Averted

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/5dd639ff-c3c9-49f7-a629-b3e200b12a11/transcript

Today's top stories, with context, in just 15 minutes.

On today's podcast:
1) The world’s largest tech firms show no signs of easing up on AI spending, a record wave that’s propelling hardware providers like Samsung Electronics Co. and SK Hynix Inc. That’s even as doubts persist about the staying power of artificial intelligence demand to justify all that capital. Meta Platforms Inc. alone revealed ambitions to spend as much as $135 billion this year — one of the biggest planned outlays of the business sphere. Meta, Microsoft and fellow hyperscalers such as Amazon.com Inc. and Alphabet Inc., are driving a wave of global spending on chips, servers and computers that’s firing up hardware suppliers around the world, particularly in Asia. A procession of industry linchpins’s results this week further underscored how voracious the appetite for AI hardware has grown — and how that’s likely to extend well into 2026.
2) Tesla Inc. has planned $20 billion of spending this year to streamline its electric-vehicle lineup and shift resources toward robotics and AI, part of a sweeping set of changes pushing the company further from its roots as an automobile manufacturer. The capital expenditure plans laid out Wednesday – roughly twice as much as Wall Street was expecting – will support production expansion at multiple factories, scaling up the nascent robotaxi business and building out AI infrastructure. Tesla also revealed plans to discontinue the Model S and X vehicles and devote that plant capacity to building Optimus humanoid robots.
3) Jerome Powell has two more opportunities to adjust interest rates before his term as Federal Reserve chair ends — and he may not need them. After the Fed kept borrowing costs on hold Wednesday, Powell talked up a “clear improvement” in the US outlook and said the job market shows signs of steadying. It signals a cautious optimism: Fed officials delivered three cuts last fall, and see nothing in the latest data to suggest more are needed to prop up the economy. Futures markets expect no shift in rates before June. By then, Powell’s term as chair will have ended and a new one should be in place — likely opening another phase of President Trump’s campaign for lower rates, which has upended the Fed over the past year. In a potential sign of what’s coming, the only two officials who voted for another cut this week were Governor Stephen Miran — on leave at the Fed from his post as a top Trump aide — and Governor Christopher Waller, one of four names on Trump’s shortlist of potential Powell successors.

Today's top stories, with context, in just 15 minutes. On today's podcast: 1) The world&rsquo;s largest tech firms show no signs of easing up on AI spending, a record wave that&rsquo;s propelling hardware providers like&nbsp;Samsung Electronics Co.&nbsp;and&nbsp;SK Hynix Inc.&nbsp;That&rsquo;s even as doubts persist about the staying power of artificial intelligence demand to justify all that capital. Meta Platforms Inc.&nbsp;alone revealed ambitions to spend as much as $135 billion this year &mdash; one of the biggest planned outlays of the business sphere. Meta, Microsoft and fellow hyperscalers such as&nbsp;Amazon.com Inc.&nbsp;and&nbsp;Alphabet Inc., are driving a wave of global spending on chips, servers and computers that&rsquo;s firing up hardware suppliers around the world, particularly in Asia. A procession of industry linchpins&rsquo;s results this week further underscored how voracious the appetite for AI hardware has grown &mdash; and how that&rsquo;s likely to extend well into 2026. 2) Tesla Inc.&nbsp;has planned $20 billion of spending this year to streamline its electric-vehicle lineup and shift resources toward robotics and AI, part of a sweeping set of changes pushing the company further from its roots as an automobile manufacturer. The capital expenditure plans laid out Wednesday &ndash; roughly twice as much as Wall Street was expecting &ndash; will support production expansion at multiple factories, scaling up the nascent robotaxi business and building out AI infrastructure. Tesla also revealed plans to discontinue the Model S and X vehicles and devote that plant capacity to building Optimus humanoid robots. 3) Jerome Powell&nbsp;has two more opportunities to adjust interest rates before his term as Federal Reserve chair ends &mdash; and he may not need them. After the Fed kept borrowing costs on hold Wednesday, Powell talked up a &ldquo;clear improvement&rdquo; in the US outlook and said the job market shows signs of steadying. It signals a cautious optimism: Fed officials delivered three cuts last fall, and see nothing in the latest data to suggest more are needed to prop up the economy. Futures markets&nbsp;expect&nbsp;no shift in rates before June. By then, Powell&rsquo;s term as chair will have ended and a new one should be in place &mdash; likely opening another phase of President&nbsp;Trump&rsquo;s campaign for lower rates, which has upended the Fed over the past year. In a potential sign of what&rsquo;s coming, the only two officials who voted for another cut this week were Governor&nbsp;Stephen Miran&nbsp;&mdash; on leave at the Fed from his post as a top Trump aide &mdash; and Governor&nbsp;Christopher Waller, one of four names on Trump&rsquo;s&nbsp;shortlist&nbsp;of potential Powell successors.

Tech Firms Unleash AI Spending Spree; Fed Holds Rates Steady

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/a76f321f-d1a3-4ed8-9618-b3e100ab6e0f/transcript

Super Tuesday Preview; Apple iPhone Sales Plunge in China

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