Trump Calls for Release of Epstein Jury Documents; Powell Answers Criticism of Fed Renovations
On today's podcast: 1) US President Donald Trump authorized the Justice Department to seek the release of grand jury testimony from the prosecution of Jeffrey Epstein, bowing to mounting pressure from his supporters for more transparency about the late, disgraced financier. 2) Federal Reserve Chair Jerome Powell in a Thursday letter countered criticisms leveled at the central bank by a top White House official over a $2.5 billion renovation project. 3) While rival media companies are unloading assets and cutting costs, Netflix Inc. continues to thrive.See omnystudio.com/listener for privacy information.
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Instant Reaction: Netflix Tops Wall Street Estimates
While rival media companies are unloading assets and cutting costs, Netflix Inc. continues to thrive. The owner of the world’s most popular paid streaming service on Thursday reported second-quarter results that exceeded investor expectations in every major metric, saying revenue grew to $11.1 billion and earnings jumped to $7.19 a share. The company also raised its forecast for full-year sales and profit margins. The second quarter is historically slow for Netflix, which typically adds more customers at the beginning and end of the year. But the company released a steady slate of popular shows, including two of the most-watched titles of the year — the third season of Ginny & Georgia and the final season of Squid Game. The company also benefited from a weaker dollar. More than two-thirds of its customers live outside the US. For instant reaction and analysis, hosts Tim Stenovec and Norah Mulinda speak with Geetha Ranganathan, Bloomberg Intelligence Senior Media Analyst and Mark Douglas, CEO of MNTN.See omnystudio.com/listener for privacy information.
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Trump-Powell Firing Drama Rattles Markets; Senate Passes DOGE Cuts
On today's podcast: 1) President Donald Trump said he’s not planning to fire Jerome Powell, and still managed to make it sound like a threat. 2) Republicans are set to succeed in their decades-long quest to end federal funding for public broadcasting after the Senate passed a $9 billion package of cuts derived from Elon Musk’s Department of Government Efficiency effort. 3) President Donald Trump said he would send letters to more than 150 countries notifying them their tariff rates could be 10% or 15% as he forges ahead with his trade agenda.See omnystudio.com/listener for privacy information.
President Donald Trump is likely to fire Federal Reserve Chair Jerome Powell soon, a White House official said, and discussed the possible move in a meeting with congressional Republicans on Tuesday night. While the lawmakers voiced support for the move, which would likely roil financial markets and lead to a consequential legal showdown, Trump has not made a final decision and could change his mind, according to the official who requested anonymity to discuss a private conversation. In response to multiple similar reports, President Trump says his administration is “very concerned”, but “not planning on doing anything” about Fed Chair Jerome Powell. Paul Sweeney and Lisa Mateo speak with Bloomberg's Chris Condon about the potential fallout.See omnystudio.com/listener for privacy information.
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Trump Threatens Drug Tariffs; Hassett Frontrunner For Fed Chair
On today's podcast: 1) President Donald Trump said he was likely to impose tariffs on pharmaceuticals as soon as the end of the month and that levies on semiconductors could come soon as well, suggesting that those import taxes could hit alongside broad “reciprocal” rates set for implementation on Aug. 12) Kevin Hassett, one of President Donald Trump’s longest-serving economic aides, is the early frontrunner to replace Jerome Powell as Federal Reserve chief next year, according to people familiar with the process.3) Nvidia Corp. boss Jensen Huang anticipates getting the first batch of US licenses to export H20 AI chips to China soon, formally allowing the company to resume sales of a much sought-after component to the world’s top semiconductor arena.See omnystudio.com/listener for privacy information.
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