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Trump Presses Fed’s Cook to Quit After Mortgage Fraud Allegation Aug 20, 2025

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President Donald Trump called on Federal Reserve Governor Lisa Cook to resign after a staunch ally called for an investigation of the board member’s mortgages, intensifying his campaign on the central bank.
Federal Housing Finance Agency Director Bill Pulte urged Attorney General Pam Bondi to investigate Cook over a pair of mortgages, the latest in a series of moves by the Trump administration to increase legal scrutiny of Democratic figures and appointees. Cook was nominated to the Fed by former President Joe Biden.
Trump said Wednesday that Cook “must resign now,” citing Pulte’s allegations, while the FHFA head posted on social media that the accusations give Trump “cause to fire” her.
The dollar declined, yields pared losses and gold rose after Trump’s call for Cook’s ouster.Pulte wrote a letter to Bondi and Justice Department official Ed Martin on Aug. 15 suggesting that Cook may have committed a criminal offense. The letter, which was first reported by Bloomberg News, alleges that Cook “falsified bank documents and property records to acquire more favorable loan terms, potentially committing mortgage fraud under the criminal statute.” The Justice Department has received the letter, according to an official, who declined to elaborate further.
Today's show features:

Bloomberg TV Radio International Economics and Policy Correspondent Mike McKee on President Donald Trump calling on Federal Reserve Governor Lisa Cook to resign
Bloomberg News Space Reporter Loren Grush on recent struggles at SpaceX
Bloomberg News US Finance Reporter Todd Gillespie on his story about Citigroup hiring a law firm to investigate complaints about the behavior of the bank's wealth-management chief
David Haber, General Partner at Andreessen Horowitz, and Bloomberg News Consumer Finance Reporter Paige Smith on opportunities in fintech-related venture capital

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ICYMI: Block Improving Profitability, Keeping Eye on Crypto Aug 20, 2025

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Block's next growth chapter will likely come from improving profitability, with greater engagement and product penetration among existing clients and better operating leverage. According to Bloomberg Intelligence, the stock's addition to the S&P 500 should accelerate passive investment flows. The Square Seller ecosystem is upselling to larger merchants, expanding overseas and leveraging Cash App to connect sellers and consumer platforms. Cash App is among the top US apps, with 57 million monthly actives in March. Direct deposits are gaining traction, and better unit economics can aid medium-term gross profit.
Amrita Ahuja, Chief Financial Officer and Chief Operating Officer of Block, discusses the company's trajectory as well as the importance of cryptocurrency - especially Bitcoin - to its customer base. Amrita speaks with Tim Stenovec, Emily Graffeo and Nina Trentmann on Bloomberg Businessweek Daily.

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Trump Says Putin, Zelenskiy Must Be Flexible as He Pushes Summit Aug 19, 2025

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Donald Trump urged Russia’s Vladimir Putin and Ukraine’s Volodymyr Zelenskiy to show some “flexibility” as the US president accelerates his efforts to end the war in Ukraine and encourages the two leaders to hold a bilateral summit.
“I hope President Putin is going to be good, and if he’s not, it’s going to be a rough situation,” Trump said Tuesday in an interview on Fox News. “I hope that Zelenskiy, President Zelenskiy, will do what he has to do. He has to show some flexibility also.”
Trump’s comments follow a whirlwind stretch as the US president pushes to bring Russia’s war against Ukraine — now in its fourth year — to an end. Trump held a summit in Alaska with Putin last week and talks at the White House with Zelenskiy and European allies on Monday.
Trump spoke with Putin again on Monday and urged him to begin making plans for a bilateral summit with Zelenskiy — a sitdown that would mark the first time those leaders meet face-to-face since Russia invaded its neighbor in Feb. 2022. Trump said that if that meeting goes well, he’ll look to follow up with a trilateral summit with Putin and Zelenskiy.
Today's show features:

Bloomberg News Senior Reporter Jen Dlouhy on President Donald Trump urging Vladimir Putin and Volodymyr Zelenskiy to show flexibility in pursuit of a deal to end the war in Ukraine
Bloomberg News Economic Statecraft Reporter Joe Deaux on President Donald Trump's willingness to use the US government to directly intervene in corporate matters
Abby Roach, Senior Portfolio Analyst for the Empiric LT Equity team at Allspring Global Investments on Home Depot earnings and the US consumer
Jai Patel, Chief Financial Officer for the MTA, on the state of the agency’s finances

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ICYMI: The Latino-Driven Economy Aug 19, 2025

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US Latino GDP currently stands at $4 trillion. If measured independently, the figure equates to the world's fifth-largest economy, exceeding that of the United Kingdom and France, and tying with India, which boasts a population 20 times larger.
Ana Valdez is the President and CEO of the nonprofit Latino Data Collaborative, which researches and highlights the vital contributions of US Latinos to the American economy. She breaks down the key sectors being driven by US Latinos, and explains why investors who’ve ignored this emerging demographic are leaving significant money on the table. Ana speaks with Tim Stenovec and Emily Graffeo on Bloomberg Businessweek Daily.

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Trump Will Call Putin to Push for Trilateral With Zelenskiy Aug 18, 2025

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US President Donald Trump and Ukrainian leader Volodymyr Zelenskiy expressed optimism their summit with European leaders could result in trilateral talks with Vladimir Putin over ending the Russian leader’s war in Ukraine.
The White House meeting came days after the US president met Putin in Alaska. But while that gathering — which saw Trump say the onus was on Zelenskiy to end the three-year-long conflict — sparked concern among allies, Monday’s meeting provided Ukraine reason for hope.
Zelenskiy said he was encouraged that the US would participate in security guarantees as part of any peace deal, and signaled that Trump had agreed to a key ask: that discussion of territorial exchanges be reserved for direct talks with Putin. Trump signaled that he may be able to convince Russia to release as many as a thousand prisoners as a show of good faith.
More broadly, the two leaders — who have often struggled to work harmoniously since Trump’s return to power — spent the afternoon praising each other and underscoring the unity between Kyiv and Washington.
Today's show features:

Bloomberg Economics Chief Geoeconomics Analyst Jennifer Welch on Monday's White House summit on Ukraine
Dr. Angela Stent, Senior Fellow at the Brookings Institution, on President Donald Trump’s meeting with Ukraine’s Volodymyr Zelenskiy and EU leaders
Andrew Krei, Co-CIO of Crescent Grove Advisors, on key macro trends to watch for the rest of 2025
Andy Marsh, CEO of Plug Power, on recent earnings, clean hydrogen production progress and the company securing a loan from the Department of Energy earlier this year

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ICYMI: The Race to Roll Out Solid-State Batteries Aug 18, 2025

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The US Department of Energy intends to offer funding opportunities totaling nearly $1 billion “to advance and scale mining, processing, and manufacturing technologies across key stages of the critical minerals and materials supply chains,” it said in a statement this week. The proposed funding is meant to accelerate the US critical minerals and materials sector and reduce reliance on foreign suppliers.
One of the companies impacted by this announcement is Factorial Energy, a producer of solid-state batteries that has partnered with automotive manufacturers such as Mercedes Benz, Stellantis and Hyundai. Dr. Siyu Huang, Factorial's founder and CEO, discusses the market landscape for critical minerals in the midst of a global trade war. Dr. Huang speaks with Tim Stenovec and Carol Massar on Bloomberg Businessweek Daily.

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Bloomberg Businessweek Weekend -August 25th, 2025 Aug 15, 2025

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Featuring some of our favorite conversations of the week from our daily radio show "Bloomberg Businessweek Daily."

Hosted by Carol Massar and Tim Stenovec

Hear the show live at 2PM ET on WBBR 1130 AM New York, Bloomberg 92.9 FM Boston, WDCH 99.1 FM in Washington D.C. Metro, Sirius/XM channel 121, on the Bloomberg Business App, Radio.com, the iHeartRadio app and at Bloomberg.com/audio.

You can also watch Bloomberg Businessweek on YouTube - just search for Bloomberg Global News.

Like us at Bloomberg Radio on Facebook and follow us on Twitter @carolmassar @timsteno and @BW

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Trump, Putin Convene at Ukraine Summit in Alaska Aug 15, 2025

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Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.
President Donald Trump and Russian counterpart Vladimir Putin began discussions at a highly anticipated summit with the US leader looking to secure an end to the war in Ukraine.
Reporters later saw the two in a room with their aides, as the discussions formally began, but the leaders did not take any questions. Alongside Trump were US Secretary of State Marco Rubio and special envoy Steve Witkoff, while Putin was joined by Foreign Minister Sergei Lavrov and Kremlin foreign policy aide Yuri Ushakov.
Moments earlier, Trump had greeted Putin with a warm handshake and a pat on the arm in their first face-to-face encounter of the US president’s second term. The two leaders disembarked from their planes, walking across the tarmac to red carpets before meeting in a highly choreographed opening. Trump clapped as he watched Putin approach.
Trump and Putin paused for a moment to watch a flyover and the US president was seen putting his hand on the Russian leader’s back as they walked down a set of steps. The two leaders appeared to be engaged in friendly conversation as they entered the Beast, as the US president’s armored limousine is known, and departed.
The Russian leader was seen laughing as the vehicle departed as he began a visit that marked his first invitation to the US in nearly a decade.
Today's show features:

Elise Giuliano, Senior Lecturer in Political Science at Columbia University, on expectations for the Trump-Putin summit
Jimmy Lee, Founder and CEO of the Wealth Consulting Group, on the Federal Reserve, investing and asset allocation strategies
Monica Duffy Toft, Professor of International Politics for The Fletcher Schoo at Tufts University, on the next steps for Ukraine after the meeting between President Trump and Russia’s Vladimir Putin

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ICYMI: Why AI Won't Replace All the Coders Aug 15, 2025

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Creatio is a global software company specializing in low-code and no-code process automation for customer relationship management (CRM) and enterprise workflows with artificial intelligence tools increasingly playing a part. Millions of workflows are launched on the platform daily by thousands of clients across 100 countries, with a funding round completed in June 2024 having raised to company's value to $1.2 billion.
Katherine Kostereva, Creatio's founder and CEO, discusses the impact of AI on the tech labor landscape and why she believes the emerging technology won't negatively impact coders. Katherine speaks with Tim Stenovec and Carol Massar on Bloomberg Businessweek Daily.

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Trump Administration Said to Discuss Taking Stake in Intel Aug 14, 2025

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Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.
The Trump administration is in talks with Intel Corp. to have the US government potentially take a stake in the beleaguered chipmaker, helping support the company’s effort to expand domestic manufacturing, according to people familiar with the plan.
The deal would help shore up Intel’s planned factory hub in Ohio, said the people, who asked not to be identified because the deliberations are private. The company had once promised to turn that site into the world’s largest chipmaking facility, though it’s been repeatedly delayed. The size of the potential stake isn’t clear.
The plans stem from a meeting this week between President Donald Trump and Intel Chief Executive Officer Lip-Bu Tan, the people said. The idea is for the US government to pay for the stake and details are being sorted out, one of the people said. Another cautioned that the plans remain fluid.
Today's show features:

Bloomberg News Senior Executive Editor for Global Tech Tom Giles and Deals Reporter Ryan Gould on the Trump administration entering talks with Intel Corp. to potentially take a stake in the company
Bloomberg Economics Chief Geoeconomics Analyst Jennifer Welch on President Donald Trump’s comments ahead of his summit with Russia’s Vladimir Putin
Nicola Willis, Minister of Finance for New Zealand on the global trade war, golden visas and her nation’s economic outlook
Sarah Ponczek, Senior Vice President of Private Wealth Management for UBS Private Wealth Management, on markets and the Federal Reserve

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