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Trump Names Miran to Fill Seat on Federal Reserve Board Aug 07, 2025

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Watch Bloomberg Businessweek Daily LIVE every day on YouTube: http://bit.ly/3vTiACF.
President Donald Trump said he had chosen Council of Economic Advisers Chairman Stephen Miran to serve as a Federal Reserve governor.
“He has been with me from the beginning of my Second Term, and his expertise in the World of Economics is unparalleled — He will do an outstanding job,” Trump said in a social media post.
Trump said that Miran, who will need to be confirmed by the US Senate, would only serve the expiring term of Fed Governor Adriana Kugler, which ends in January.
“In the meantime, we will continue to search for a permanent replacement,” Trump said. The Federal Reserve did not immediately respond to a request for comment.
Miran has been critical of the Fed’s track record in recent years. In a March 2024 paper, Miran and Dan Katz, now chief of staff at the Treasury Department, laid out a 24-page plan for reforming the Fed that blames policy errors at the central bank on “groupthink.” It also takes the Fed to task for having expanded into political areas that they argue are beyond its remit.
Today's show features:

Bloomberg TV and Radio International Economics & Policy Correspondent Mike McKee on Federal Reserve
Bloomberg News US Semiconductor & Networking Reporter Ian King on President Donald Trump’s criticism of Intel CEO Lip-Bu Tan
Governor Christopher Waller emerging as a top candidate to serve as the central bank's next chair
Dr. Gracelin Baskaran, Director of the Critical Minerals Security Program at the Center for Strategic and International Studies, and Bloomberg News Economic Statecraft Reporter Joe Deaux on the rare earth materials market
Dr. Angela Stent, Senior Fellow at the Brookings Institution, on the latest developments between the US and Russia surrounding the War in Ukraine

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ICYMI: MNTN's First Earnings Report Aug 07, 2025

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MNTN is redefining how brands use television by making TV advertising as measurable, precise, and performance-driven as Internet searches and social media. MNTN’s software is helping a new generation of marketers turn Connected TV into a core part of their growth strategy.
Mark Douglas, the company's founder, chairman and CEO, says he's bullish about the future of TV ads with MNTN developing new technologies and bringing on content creators to help small businesses build ads on streaming platforms. Mark speaks with Carol Massar and Matt Miller on Bloomberg Businessweek Daily

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Trump, Apple Announced Fresh $100 Billion US Investment Aug 06, 2025

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Watch Bloomberg Businessweek Daily every day on YouTube: http://bit.ly/3vTiACF.
President Donald Trump announced that Apple Inc. will commit to spending another $100 billion on domestic manufacturing, the latest pledge by the tech giant to increase US production of its products as it seeks to avoid punishing tariffs on its flagship iPhones.
The announcement at the White House on Wednesday included a new manufacturing program designed to bring more of Apple’s supply chain to the US, with an eye toward assembling additional critical components domestically, according to a White House official who detailed the announcement on the condition of anonymity. Apple Chief Executive Officer Tim Cook attended the event.
The company had previously announced it plans to spend $500 billion in the US over the next four years, which will include work on a new server manufacturing facility in Houston, a supplier academy in Michigan and additional spending with its existing suppliers in the country. Wednesday’s announcement brings Apple’s cumulative commitment to $600 billion, the White House said.
Today's show features:

Bloomberg News Managing Editor for Global Consumer Tech Mark Gurman on Apple’s $100 billion US investment and Tim Cook’s visit to the White House
Bloomberg Intelligence Global Equity Strategist Associate Gillian Wolff on her latest market research
Bloomberg Intelligence Senior Media Analyst Geetha Ranganathan on Disney’s quarterly earnings report
Amy Rubenstein, CEO of Clear Investment Group, on the distressed real estate market

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ICYMI: Latin America's E-Commerce Empire Aug 06, 2025

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MercadoLibre Inc. investors brushed off a second-quarter report that missed estimates for profit, betting on the Latin American e-commerce giant’s long-term strategy.

The company’s earnings, released Monday evening, fell short of analyst estimates for net income, pressured by rising costs tied to an expansion of free-shipping policy in Brazil. Still, revenue growth remained strong and executives doubled down on their plans to keep expanding across the region.

Martin de los Santos, MercadoLibre's CFO, breaks down the quarter and the outlook for the $120 billion powerhouse. Martin speaks with Carol Massar, Matt Miller and Nina Trentmann on Bloomberg Businessweek Daily.

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Stocks Fall as US Services Flash Warning Signals Aug 05, 2025

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Watch Bloomberg Businessweek Daily LIVE every day on YouTube: http://bit.ly/3vTiACF.
Stocks wiped out gains after data showed weakening US services amid sticky price pressures, raising concern about the Federal Reserve’s policy challenges. Short-dated Treasuries underperformed. Oil sank as Russia was said to mull an air-truce with Ukraine.
Following a rally that put S&P 500 on the brink of all-time highs, the benchmark lost steam. A gauge of chipmakers slid over 1% ahead of Advanced Micro Devices Inc.’s results. Two Chinese nationals were arrested this week on charges they sent tens of millions of dollars worth of advanced AI chips made by Nvidia Corp. to China in violation of US export restrictions, according to authorities.
A soft $58 billion sale of three-year notes kicked off a trio of US auctions this week. The yield on 10-year Treasuries was little changed at 4.20%, while those on two-year notes rose four basis points to 3.72%.
The US services sector stagnated as firms — faced with tepid demand and rising costs — reduced headcount. Data out last week showed weaker-than-expected jobs data while inflation-adjusted consumer spending barely rose.
President Donald Trump told CNBC that Treasury Secretary Scott Bessent said he did not want to be nominated to replace Jerome Powell as the next Fed chair. Trump also said that US tariffs on semiconductor and pharmaceutical imports would be announced “within the next week or so.”
Today's show features:

Joyce Huang, Senior Client Portfolio Manager for American Century Investments on the fixed income market
Bloomberg Senior Editor for Technology & Strategic Industries Michael Shepard on new tariff concerns on pharmaceuticals and semiconductors
Rick Smith, Founder and CEO of Axon, on earnings and the market for physical security tools and equipment
Bloomberg News Tech and Venture Capital Reporter Kate Clark on her Businessweek story: AI Founders Jump Ship for Big Tech, Leaving Colleagues Stranded

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ICYMI: How SparkCharge Is Taking EV Fleet Charging Off-Grid Aug 05, 2025

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SparkCharge bills itself as the “World's Largest Electric Vehicle Fleet Charging Network.” The company's mission is to revolutionize the EV charging industry by making charging faster, more accessible, and more sustainable. Through innovative technology and mobile solutions, SparkCharge says it seeks to empower businesses to charge anywhere, anytime — eliminating barriers to EV adoption and driving the world toward a cleaner, more electrified future.
Founder and CEO Josh Aviv details the company's growth trajectory and examines the demand for electric vehicles among Americans under the Trump administration. Josh speaks with Carol Massar and Matt Miller on Bloomberg Businessweek Daily.

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Wall Street Is Warning Investors to Get Ready for Stocks to Drop Aug 04, 2025

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A chorus of stock market prognosticators at some of Wall Street’s biggest firms is warning clients to prepare for a pullback as sky-high equity valuations slam into souring economic data.
On Monday, Morgan Stanley, Deutsche Bank AG and Evercore ISI all cautioned that the S&P 500 Index is due for a near-term drop in the weeks and months ahead. The predictions come after a furious rally from April’s lows that propelled the gauge to levels it has never seen before.
Morgan Stanley strategist Mike Wilson sees a correction of up to 10% this quarter as tariffs hit consumers and corporate balance sheets. Evercore’s Julian Emanuel is expecting a more substantial decline of as much as 15%. And a team at Deutsche Bank led by Parag Thatte notes that a small drawdown in equities is overdue considering they’ve been on a tear for over three months.
Today's show features:

Bill Smead, Founder, Chairman and CIO of Smead Capital Management, on concentration risk in markets
Joyce Mullen, President and CEO of Insight Enterprises, on recent earnings and customers putting off new projects and saving for future investments in AI
Aaron Jagdfeld, Chairman, President and CEO of Generac, on earnings, the state of manufacturing in America, and US trade policy impact
Kate Gulliver, Chief Financial Officer of Wayfair, on quarterly earnings and the health of the American consumer

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ICYMI: CraftCo. Navigating Crowded Spirits Market, Tariffs Aug 04, 2025

Show notes

Holland, Michigan-based CraftCo. Brands has a diverse portfolio of innovative distilled alcoholic beverages comprised of more than 30 spirits and liqueurs across the bourbon, gin, vodka, rye, and ready-to-drink categories. CraftCo. competes in an industry that is increasingly dominated by consolidation, the speed with which companies can get their products to the shelves, and ever-evolving trends.
Ali Anderson, the company's CEO, discusses the state of the alcohol industry, consumer habits and the potential impact of tariffs for her business. Ali speaks with Tim Stenovec and Carol Massar on Bloomberg Businessweek Daily.

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Bloomberg Businessweek Weekend - August 1st, 2025 Aug 01, 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 Says He’ll Fire BLS Head After Weak Jobs Data Aug 01, 2025

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Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.
President Donald Trump said he was directing officials to fire Erika McEntarfer, the commissioner of the Bureau of Labor Statistics, hours after a report showed US job growth cooled sharply over the last three months.
“I have directed my Team to fire this Biden Political Appointee, IMMEDIATELY,” Trump said on social media Friday, accusing her, without evidence, of politicizing the jobs report. “She will be replaced with someone much more competent and qualified. Important numbers like this must be fair and accurate, they can’t be manipulated for political purposes.”
Friday’s jobs report from the BLS showed payrolls increased 73,000 in July after the prior two months were revised down by nearly 260,000. In the past three months, employment growth has averaged a paltry 35,000 — the worst since the pandemic.
BLS didn’t immediately respond to a request seeking comment. Former President Joe Biden nominated McEntarfer to head the statistical agency in 2023. She was confirmed in January of 2024, an election year, by a vote of 86-8, with then-Senator JD Vance voting “yea.”
Today's show features:

Bloomberg News Economic Editor Molly Smith and Bloomberg News Senior Editor, Equities Americas Eric Weiner on the week in markets, and President Donald Trump's move to fire the head of the Bureau of Labor Statistics
Bloomberg Intelligence Senior Defense Analyst Wayne Sanders on heightened tensions between the United States and Russia
Laura Martin, Senior Analyst at Needham & Company on this week's earnings from Apple, Meta and Amazon
Dr. Ellen Wald, President of Transversal Consulting and Senior Fellow at the Atlantic Council, on earnings from Exxon and Chevron, and the global energy trade

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