Bloomberg Businessweek

• Fed Cuts Rates With Three Dissents, Projects One Cut in 2026

  Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.Federal Reserve officials delivered a third consecutive interest-rate reduction and maintained their outlook for just one cut in 2026.The Federal Open Market Committee voted 9-3 Wednesday to lower the benchmark federal funds rate by a quarter point to a range of 3.5%-3.75%. It also subtly altered the wording of its statement suggesting greater uncertainty about when it might cut rates again.Speaking to reporters after the meeting, Chair Jerome Powell suggested the Fed had now done enough to bolster the threat to employment while leaving rates high enough to continue weighing on price pressures.When asked if it were a foregone conclusion that the Fed’s next move would be a cut, Powell demurred, but added that he didn’t see a rate hike as any official’s base case.Today's show features: Bloomberg Intelligence Chief US Interest Rate Strategist Ira Jersey on the bond market’s reaction to Wednesday’s Federal Reserve rate call Steve Moore, Co-Founder of Unleash Prosperity and a former Trump Economic Advisor, and Bloomberg Economics US and Canada Economist Stuart Paul, on the search for the next Chairman of the Federal Reserve Bloomberg Intelligence Senior Technology Analyst Anurag Rana breaks down quarterly earnings from Oracle and Adobe Zach Wasserman, Chief Financial Officer at Huntington National Bank, on the financial sector outlook following the Federal Reserve's latest rate decision See omnystudio.com/listener for privacy information.

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• Instant Reaction: Jay Powell on the Fed Decision

  Bloomberg's Tom Keene and Lisa Abramowicz discuss remarks from Fed Chair Jay Powell following the Federal Reserve's latest policy decision on a special edition of Bloomberg Surveillance. Federal Reserve officials delivered a third consecutive interest-rate reduction and maintained their outlook for just one cut in 2026. The Federal Open Market Committee voted 9-3 Wednesday to lower the benchmark federal funds rate by a quarter point to a range of 3.5%-3.75%. It also subtly altered the wording of its statement suggesting greater uncertainty about when it might cut rates again. Speaking to reporters after the meeting, Chair Jerome Powell suggested the Fed had now done enough to bolster the threat to employment while leaving rates high enough to continue weighing on price pressures: “This further normalization of our policy stance should help stabilize the labor market while allowing inflation to resume its downward trend toward 2% once the effects of tariffs have passed through,” he said.See omnystudio.com/listener for privacy information.

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• Instant Reaction: The Fed Decides

  Bloomberg's Tom Keene and Lisa Abramowicz break down the Federal Reserve's latest policy decision on a special edition of Bloomberg Surveillance.See omnystudio.com/listener for privacy information.

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• Critical Section of Real Estate in Focus for Wealth Managers

  Morgan Stanley Real Estate Investing (MSREI) is the global private real estate investment management business of Morgan Stanley. Considered one of the most active property investors in the world for over three decades, the company boasts 17 offices throughout the US, Europe and Asia that house regional teams of dedicated real estate professionals with local presence and significant transaction execution expertise.Lauren Hochfelder, Co-Chief Executive Officer of Morgan Stanley Real Estate Investing and Head of MSREI Americas, explains why she believes her sector is poised for its next upcycle heading into 2026. Lauren speaks with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.See omnystudio.com/listener for privacy information.

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• SpaceX Said to Pursue 2026 IPO Raising Far Above $30 Billion

  Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.SpaceX is moving ahead with plans for an initial public offering that would seek to raise significantly more than $30 billion, people familiar with the matter said, in a transaction that would make it the biggest listing of all time.The Elon Musk-led company is targeting a valuation of about $1.5 trillion for the entire company, which would leave SpaceX near the market value that Saudi Aramco established during its record 2019 listing. The oil major raised $29 billion at the time.SpaceX’s management and advisers are pursuing a listing as soon as mid-to-late 2026, said some of the people, who declined to be identified because the matter is confidential. The timing of the IPO could change based on market conditions and other factors, and one of the people said the timing could slip until 2027.A representative for SpaceX didn’t immediately respond to a request for comment.Bloomberg and other media reported on Friday that SpaceX is exploring a possible IPO as soon as late next year. Musk and the company’s board of directors advanced plans for the listing and fundraising — including hiring for key roles and how it would spend the capital — in recent days as SpaceX firmed up its latest insider share sale, one of the people said.SpaceX’s faster path to public markets is in parts fueled by the strength of its fast-growing Starlink satellite internet service, including the promise of a direct-to-mobile business, as well as the development of its Starship moon and Mars rocket.Today's show features: Bloomberg News Global Business of Space Editor Eric Johnson on SpaceX's plans for a 2026 IPO David Schassler, Head of Multi-Asset Solutions of VanEck Funds, on the market outlook ahead of Wednesday’s Fed decision and why he sees more volatility ahead in the tech sector Joyce Huang, Senior Client Portfolio Manager with American Century Investments, on the fixed income market and the Federal Reserve’s path forward Bloomberg News Americas Finance Team Leader Sally Bakewell on Saudi Arabia's Public Investment Fund, the Qatar Investment Authority, and Jared Kushner's Affinity Partners taking part in the Paramount Skydance hostile takeover bid for Warner Bros. Discovery See omnystudio.com/listener for privacy information.

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