specifically and this is also the most common or most natural thing people are are thinking about here is it will improve forecasting and I think this is sort of where everybody's interested how are interest rates going how does the economy develop going forward how is inflation going forward so here we're going to see a lot already happening in terms of AI and I think here there's also a lot to learn going forward is it likely to make forecasting more accurate do you think I think definitely so I think one ...

>> THIS IS "BALANCE OF POWER" LIVE FROM WASHINGTON DC. KAILEY: FROM BLOOMBERG'S WASHINGTON DC STUDIOS TO OUR TV AND RADIO AUDIENCES WORLDWIDE, WELCOME TO "BALANCE OF POWER. " TYLER: THE PRESIDENT TODAY INTENSIFYING HIS CALL FOR THE CENTRAL BANK TO CUT INTEREST RATES AMID MOUNTING CRITICISM OF THE FED'S RECENT RENOVATIONS. WHAT COULD HAPPEN NEXT WHEN THE DEPUTY TREASURY SECRETARY JOINS US NEXT. KAILEY: PLUS WE WILL TALK ABOUT THE CRYPTO BILL CELEBRATION AT THE WHITE HOUSE. PRES. TRUMP: THE ENTIRE CRYPTO COMM ...

Market Trends & Economic Indicators - The Dow Jones Industrial Average slipped nearly 200 points, while the S&P 500 and Nasdaq trimmed gains near record highs [2] - The 10-year Treasury yield is off the 45% mark, down about three basis points, while the 30-year Treasury yield remains critically at 5% [6] - The US dollar index is down slightly today, up a little bit for the week [7] - June CPI ticked up a tenth of a percentage point to 29%, up from 28% previously, indicating a potential warning sign in core goods inflation [12] - The market is still pricing in two Fed rate cuts, each of 25 basis points or a total of 05%, by the end of the year [40] Tariff & Trade Impact - President Trump is reportedly pushing for a minimum of 15% to 20% tariff on EU goods as part of any deal [2] - New round of tariffs on domestic production parts, components, copper, and supplies, as well as revisiting tariffs on Canada and Europe, create uncertainty [14] - Imported goods are only 11% of GDP, but tariffs could have a larger impact if they lead to behavioral changes or retaliation [17] - Potential for stagflation exists with elevated inflation and slowing growth, but long-term impact to inflation from tariffs may not be extreme [64][70] Sector Performance - Utilities are leading the day, up 175%, while consumer discretionary is up thanks to Tesla [7] - Energy is down 1% due to crude oil under pressure, and communication services are down 07% [8] - Platinum is up 60%, palladium up 40%, copper up 40%, and silver up 30% year-to-date in commodities [44] Cryptocurrency & Digital Assets - President Trump is signing the Genius Act to regulate cryptocurrency, the first major crypto legislation passed by Congress into law [3] - Dollar-linked stable coins could reach $2 trillion or more in market capitalization, with some estimates as high as $37 trillion [52][53] - The Genius Act will unlock American dominance in the crypto industry by creating clear rules of the road and extending US dollar dominance globally [48] Company Specific News - Tesla is up 3% [9] - American Express is down 2%, Chevron is down almost 3%, Coca-Cola is down about two-thirds of a percent, and IBM is up 135% [9] - Chevron can move forward with the $53 billion acquisition of Hess after officials dismissed Exxon's attempt to block the deal [92] - American Express expenses increased 14%, higher than expected, due to investments in tech and risk management [95]

Fed Independence Concerns - The speaker expresses worry about the Federal Reserve's independence, particularly concerning potential pressures from political figures [1] - The speaker suggests that the Fed Chairman stepping down might paradoxically enhance the Fed's long-term independence [1] - The speaker anticipates potential scapegoating of the Fed Chairman if the economy weakens [2] - The speaker fears potential congressional actions to reduce the Fed's power and increase presidential control over it [4] - The speaker highlights that the Fed's powers derive from Congress, which can amend or revoke them [5] Potential Political Intervention - The speaker believes a Republican-controlled Congress might grant the president more control over the Fed if the economy declines and the Fed Chairman is blamed [5] - The speaker suggests the president might seek increased authority over the Fed, including the power to appoint the chairman at will [4] Economic Outlook - The speaker mentions the possibility of the economy weakening in the second half of the year, though not expecting it [2] - The speaker references potential criticism of the Fed Chairman for being too slow to address inflation [3]

LINE ANNOUNCER: THIS IS "BLOOMBERG BUSINESSWEEK DAILY." WITH INSIGHT ON THE PEOPLE, COMPANIES, AND TRENDS SHAPING TODAY'S COMPLEX ECONOMY, PLUS BUSINESS AND FINANCE AND TECH NEWS AS IT HAPPENS. "BLOOMBERG BUSINESSWEEK DAILY" WITH CAROL MASSAR AND TIM STENOVEC LIVE ON BLOOMBERG RADIO, TELEVISION, YOUTUBE, AND BLOOMBERG ORIGINALS. TIM: GOOD AFTERNOON.LIVE ON BLOOMBERG TV, RADIO, YOUTUBE, AND BLOOMBERG ORIGINALS. I AM TIM STENOVEC. THAT IS SONALI BASAK IN FOR CAROL MASSAR.IT IS GOOD TO HAVE YOU HERE. WELCOME. ...

You know what it's like being inside the Fed. You understand the independence of the Fed. But what have you made of this scenario as somebody that's now left the Fed behind and works principally as a private markets investor.Yeah, look, I think the most direct relationship between Fed policy and technology investing and venture capital investing is the path of interest rates. And in particular, what that means is, you know, interest rates have such a huge impact on valuations and returns in the private mark ...

Bring in show music, please. Today on SquawkPod, late night votes in the House. Speaker Mike Johnson.What I wanted everybody to know about the one big beautiful bill is it it it wasn't a magic trick. This was I think it was Vince Lombardi that said victory loves preparation. And his comments on the Epstein files, freeze the rent.An affordability focus boosted New York mayoral candidate Zoron Mandani, but the soaring cost of living hits beyond the big apple. Former New York housing commissioner and former HU ...

Markets are still betting that inflation will ease enough to allow central banks to continue cutting interest rates this year. But there are signs that a resurgence could be more of a risk than anticipated. https://t.co/ImYJl8FtHz ...

Labor Market Analysis - The private sector's employment growth is weaker than perceived, with a significant portion of recent job growth occurring in the public sector [1] - Underlying private sector data indicates a stagnant labor market, making it susceptible to economic shifts [4] - Firms are hesitant to hire, even with strong earnings, impacting the labor market [11] - Immigration is not identified as a primary cause of labor market issues, as unemployment rates for new college graduates remain high [11] Monetary Policy and Interest Rates - A potential July rate cut is under consideration, with the understanding that delaying until September may not be significantly different [13][22] - Dissent within the FOMC is viewed as healthy for policy debate and decision-making [16][17] - The Federal Reserve aims to act proactively, considering long and variable lags in monetary policy [24] Tariffs and Inflation - Economic theory suggests that one-time tariffs result in a one-time price effect, not persistent inflation, unless amplified by other mechanisms [26] - A rule of thumb suggests that a 10% tariff is typically absorbed in thirds by suppliers, firms, and consumers, resulting in a 0.3% impact on the inflation rate for a few months [29] - Continuous waves of increasing tariffs pose a greater risk to inflation than a single, uniform tariff [35] - Market-based inflation expectations are closely monitored, with less emphasis on consumer surveys, to gauge the impact of tariffs and other factors [43]

Federal Reserve Governor Christopher Waller said worries about hiring in the private sector have driven his call for the central bank to cut rates this month https://t.co/12Wo7vgCjS ...