Bloomberg News Now: Trump, Fed, Macron, Epstein, Paramount Merger, and VW Tariffs

Trump's Visit to the Federal Reserve

• 🏛️ President Trump visited the Federal Reserve headquarters, expressing concerns about renovation costs, which he claimed had increased significantly.
• 🤝 Despite a tense moment regarding the project's budget, Trump indicated it wasn't enough reason to fire Fed Chair Jay Powell.
• 📉 Trump reiterated his desire for the Fed to lower interest rates, stating it would be the primary way for Powell to appease his criticism.
• 🗓️ This visit marked the first time in nearly two decades a president has visited the Fed in person, with the central bank's next policy decision due Wednesday.

Jeffrey Epstein Case Developments

• ⚖️ The Trump administration is addressing Republican concerns regarding the Jeffrey Epstein case.
• 🗣️ Deputy Attorney General Todd Blanche met with Elaine Maxwell, who is serving a 20-year sentence for her role in Epstein's crimes.
• 📝 Maxwell reportedly answered all questions during an all-day interview, though it remains unclear if she provided new information beyond public records.
• 🔄 Blanche is scheduled to speak with Maxwell again today.

International Relations and Middle East

• 🌍 The U.S. is criticizing French President Emmanuel Macron for his plan to recognize the state of Palestine in September.
• ⚠️ Secretary of State Marco Rubio called Macron's decision reckless, stating it aids Hamas propaganda and hinders peace efforts.
• 💔 Ceasefire talks in Gaza have faced a significant setback, with both the U.S. and Israel withdrawing negotiators from Qatar.

Business and Regulatory News

• 📈 Paramount Global's merger with Skydance Media has been approved by the FCC in a 2-1 vote, with shares of Paramount rising.
• 🤝 Concessions were made regarding political coverage and diversity practices following the Trump administration's involvement.
• 📺 Paramount recently announced the cancellation of Stephen Colbert's talk show due to financial decisions.
• 📉 Volkswagen has lowered its financial outlook for the year, citing the escalating costs of President Trump's tariffs on its earnings.
• 🚗 The CFO noted that 25% tariffs necessitate a solution that balances U.S. administration needs with those of European automakers.
• 📊 Volkswagen now anticipates flat revenue for the year, down from a previous forecast of 5% growth, and has also reduced its free cash flow outlook.