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ICYMI: Inside Gap’s Last-Ditch, Tariff-Addled Turnaround Push Jun 25, 2025

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Bloomberg Businessweek Senior Reporter Amanda Mull break down how Gap, the iconic ’90s retailer, was on the precipice of death for years. Then CEO Richard Dickson finally had momentum for a comeback— and then came Trump.

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Powell Reiterates Desire to Hold Rates Jun 24, 2025

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Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.
Federal Reserve Chair Jerome Powell had plenty of opportunities Tuesday to tell lawmakers definitively the central bank will cut interest rates soon. He didn’t take any of them.
Instead, Powell reiterated his view that policymakers need not rush to adjust policy, a counter to President Donald Trump’s demands and recent statements from Fed Governors Christopher Waller and Michelle Bowman that signaled the two would be open to lowering rates as soon as July.
“If it turns out that inflation pressures do remain contained, then we will get to a place where we cut rates, sooner rather than later,” Powell said in response to a question about the possibility of a rate cut next month during a House Financial Services Committee hearing. “But I wouldn’t want to point to a particular meeting. I don’t think we need to be in any rush because the economy is still strong.”
Powell’s remarks before the congressional panel came on the heels of the Fed’s decision last week to leave interest rates unchanged in a range of 4.25%-4.5%. He has maintained policymakers should take a cautious approach to rate cuts as they wait for more clarity on the impacts of Trump’s economic policies, particularly on tariffs.
“The effects of tariffs will depend, among other things, on their ultimate level,” Powell said. “For the time being, we are well positioned to wait to learn more about the likely course of the economy before considering any adjustments to our policy stance.”
Today's show features:

Michael McKee, Bloomberg International Economics and Policy Correspondent and Alix Steel, Bloomberg Radio and TV host, on Powell testimony and global oil markets
Bloomberg Middle East Geoeconomics Reporter Dina Esfandiary on latest in the Middle East
Craig Trudell, Bloomberg Global Autos Editor & Bloomberg Businessweek Senior Reporter Max Chafkin on boom in driverless cars
Katie Hubbard, EVP of Capital Markets for Walton Global

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ICYMI: Tit for Tat Strikes in the Mideast Jun 24, 2025

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Tony Capaccio, Bloomberg Pentagon Reporter discusses how the US hit Iran, possible retaliation tactics, and next steps from the US to deter further conflict.
Iran pledged to respond “proportionately and decisively” to US strikes at the weekend and Qatar suspended traffic over its airspace, amid signs American bases there could be targeted as the conflict between the Islamic Republic and Israel showed signs of boiling over.
The Wall Street Journal reported that Iran was moving missile launchers for a possible attack on American forces, citing US officials. Axios reported that missiles had been launched toward US bases in Qatar. The White House didn’t immediately respond to requests for comment.

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US and Iran Trade Blows in the Middle East Jun 23, 2025

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Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.
Iran fired missiles at a US air base in Qatar after promising it would respond “proportionately and decisively” to President Donald Trump’s weekend airstrikes on three of its nuclear facilities.
There were no reported casualties in the attack on Al Udeid base — the biggest such US facility in the Middle East — amid signs Iran gave advance notice of the strike plan. Qatar said the missile barrage was intercepted and the base had been evacuated in advance. Oil plunged on relief that Tehran’s limited response didn’t target energy supplies. The salvo marks another widening in the conflict that began 10 days ago when Israel attacked Iran, targeting nuclear and missile installations and military leaders. Iran has responded with several days of missile strikes on Israel, and the war threatened to escalate after the US joined the campaign with a bunker-buster bombing raid.
Iran’s move “looks like a largely symbolic retaliation,” saud Ziad Daoud, Bloomberg Economics’ chief emerging-market economist. “Plenty of warning was given — Qatar shut its airspace and the US issued warnings to citizens.”
Trump said the nuclear sites struck by the US were totally destroyed, and vowed to meet any Iranian retaliation with force “far greater” than those weekend strikes. He also hinted at the possibility of “regime change” in Iran, though US officials stressed that isn’t their aim. Defense Secretary Pete Hegseth said the strikes had the “limited” objective of eliminating Iran’s atomic program. Officials have said it’s too early to definitely assess damage.
There was no immediate indication of how the US will respond to Monday’s Iranian missile launch. The administration was anticipating that Iran would retaliate, and doesn’t want more military engagement in the region, CNN cited a senior White House official as saying.
The attack included at least six missiles fired toward Al Udeid — the regional headquarters for US Central Command, which oversees the American military in the region, and home to several thousand US service-members — according to a person familiar with the matter.
Today's show features:

Bloomberg News National Security Team Leader Nick Wadhams on potential Iran retaliation and security back in the US
Ariel Cohen, Senior Fellow at the Atlantic Council on Geopolitical Tensions in Middle East
Torsten Slok, Chief Economist and Partner at Apollo Global Management
and we Drive to the Close with Megan Horneman, Verdence Capital Advisors CIO

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ICYMI: Pride Under Pressure Jun 23, 2025

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Jennie Glazer, CEO at Coqual, a global think tank helping companies redesign how they work and lead. A strategist, facilitator, and builder of high-performing teams, Jennie leads Coqual’s research, advisory, and insight platforms—guiding senior leaders through complexity and toward clarity, trust, and measurable impact. Here, she discusses their latest report that offers urgent new data, stark realities, and a path forward for companies navigating rising backlash, legal uncertainty, and employee fear.

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Bloomberg Businessweek Weekend - June 20th, 2025 Jun 20, 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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Life in Israel and Iran as Threat of War Escalates Jun 20, 2025

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Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.
US President Donald Trump signaled he would give diplomacy a chance before deciding whether to strike Iran, dialing back on recent comments that suggested military action could be imminent.
“Based on the fact that there’s a substantial chance of negotiations that may or may not take place with Iran in the near future, I will make my decision whether or not to go within the next two weeks,” Trump said in a dictated message, according to White House spokeswoman Karoline Leavitt. Iran maintained Friday it won’t negotiate with the US while an Israeli assault continues. The only way to end the imposed war is to “unconditionally stop” the enemy’s aggression, Iranian President Masoud Pezeshkian said Friday in a post on X.
Oil prices fell following a report from Reuters that Iran is ready to discuss limitations on nuclear enrichment, but will not consider stopping entirely. That puts the country’s leadership at odds with Trump, who has called for zero enrichment.
Israel launched its surprise attack on Iran a week ago, saying the threat of its sworn enemy acquiring nuclear weapons had to be neutralized. While that goal hasn’t been fully met, the Islamic Republic’s military capabilities have been degraded and a number of its top generals and atomic scientists have been killed. Iran has struck back at Israel with waves of ballistic missiles and drones, and there have been heavy casualties on both sides.
Trump, who is scheduled to attend a national security meeting in the Oval Office on Friday, has publicly mused for days about the US joining the fray. His latest stance signals a step back after a run of tough rhetoric, including demands for Tehran residents to relocate and threats toward Iran’s Supreme Leader Ayatollah Ali Khamenei, and his early departure from this week’s Group of Seven summit in Canada to return to Washington.
Today's show features:

Dan Williams, Reporter for Bloomberg News Based in Jerusalem, on life in Israel given the Israel/Iran War
Alex Vatanka, Senior Fellow at the Middle East Institute on life in Iran
John Erath, Senior Policy Director for the Center for Arms Control and Non-Proliferation on Iran's nuclear ambitions
and Peter Atwater, President of Financial Insyghts on the overall US macro environment

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Fed Leaves Rates Unchanged, Iran's Nuclear Capabilities Jun 18, 2025

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Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.
Federal Reserve officials left interest rates unchanged and continued to pencil in two rate cuts in 2025, saying uncertainty over the economic outlook was still high but had diminished. The Federal Open Market Committee voted unanimously on Wednesday to hold the benchmark federal funds rate in a range of 4.25%-4.5%, as they have at each of their meetings this year.
Officials also downgraded their estimates for economic growth this year while lifting their forecasts for unemployment and inflation.
Speaking to reporters following the decision, Chair Jerome Powell repeated his view that the central bank was “well positioned to wait to learn more about the likely course of the economy before considering any adjustments to our policy stance.”
While the median expectation for two rate cuts in 2025 didn’t change, a number of officials lowered their projections. Seven officials now foresee no rate cuts this year, compared with four in March. Two others pointed to one cut this year
Today's show features:

Ross Mayfield, Investment Strategist at Baird Private Wealth Management & Ira Jersey Bloomberg Intelligence Chief US Interest Rates Strategist on FOMC Reaction
Heather Williams, Director of Project on Nuclear Issues and Senior Fellow for Defense and Security at Center for Strategic and International Studies
Michael Lohan, head of IDA Ireland on trade, tariffs and EU’s view of Trump.

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FOMC Preview with Frank Sorrentino Jun 18, 2025

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With Federal Reserve officials signaling an extended hold on interest rates, investors and economists will look to Chair Jerome Powell this week for clues on what might eventually prompt the central bank to make a move, and when.
A fourth straight meeting without a cut could provoke another tirade from President Donald Trump. But policymakers have been clear: Before they can make a move they need the White House to resolve the big question marks around tariffs, immigration and taxes. Israel’s attacks on Iranian nuclear sites have also introduced another element of uncertainty for the global economy.
Frank Sorrentino, Founder and CEO of ConnectOne Bankcorp previews what the Fed may do at the next FOMC meeting.

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Threat of War Escalates Jun 17, 2025

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Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.
President Donald Trump met with his national security team in Washington on Tuesday to discuss the escalating Middle East conflict, according to people familiar with the matter, fueling fresh speculation that the US is on the verge of joining Israel’s attack on Iran.
The meeting lasted over an hour and the White House provided no immediate statement afterward. Before gathering his advisers in the Situation Room, Trump posted a demand for Iran’s “UNCONDITIONAL SURRENDER” and warned of a possible strike against the country’s leader, Ayatollah Ali Khamenei. “We know exactly where the so-called ‘Supreme Leader’ is hiding. He is an easy target, but is safe there - We are not going to take him out (kill!), at least not for now,” Trump posted on social media.
Israel also sought to ratchet up pressure on Iran, signaling it will intensify a campaign of air strikes that have targeted the country’s nuclear facilities as well as military leaders and infrastructure. US weapons are seen as key to achieving a more complete destruction of the Islamic Republic’s atomic program than anything Israel can do alone.
The escalating war began with an Israeli attack late last week and has seen the sworn enemies trade missile salvos for five days. Trump departed early from the Group of Seven leaders meeting in Canada to deal with the crisis.
Today's show features:

Bloomberg News Pentagon and National Security Reporter Tony Capaccio
Dana Telsey, Founder, CEO and Chief Research Officer of Telsey Advisory Group
Stamatis Tsantanis, Chairman & Chief Executive Officer of global shipping companies Seanergy Maritime and United Maritime
Travis McCready, JLL’s Head of Industries, Leasing Advisor

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