New York City's Brooklyn Navy Yard has evolved from a collection of warehouses into a model for 21st-century manufacturing, where climate-tech, smart city solutions, and advanced fabrication companies grow alongside distilleries, designers, and robotics startups. Now, the mission-driven industrial park is prompting a broader rethink of what manufacturing looks like in big cities, and how to solve some of today’s biggest problems, from climate change to health care access.Lindsay Greene, President and CEO of the Brooklyn Navy Yard, discusses her vision for the Big Apple's business ecosystem. Lindsay speaks with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.See omnystudio.com/listener for privacy information.
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Fed Cuts Rates by Quarter-Point; Powell Cites Weakness in Jobs
Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.Federal Reserve officials lowered their benchmark interest rate by a quarter percentage point and penciled in two more reductions this year following months of intense pressure from the White House to slash borrowing costs.Chair Jerome Powell pointed to growing signs of weakness in the labor market to explain why officials decided it was time to cut rates after holding them steady since December amid concerns over tariff-driven inflation.The decision comes at an extraordinary moment for the Fed. President Donald Trump, who has demanded drastic rate reductions and sought to exert more control over the US central bank, continued his legal battle this week to remove one official from the Fed board and install his own top economic adviser ahead of the highly anticipated gathering.Fed Governor Lisa Cook and newly-sworn-in Governor Stephen Miran, who is on a temporary leave from his role as chair of the White House Council of Economic Advisers, both attended the meeting.The Federal Open Market Committee voted 11-1 on Wednesday to cut the target range for the federal funds rate to 4%-4.25%, after holding rates steady for five straight meetings this year.Today's show features: Danielle DiMartino Booth, CEO and Chief Strategist at QI research, on what to watch for from the FOMC for the rest of 2025 Ethan Penner, 2026 Candidate for Governor of California and Managing Partner and co-Founder of Mosaic Real Estate Investors, on his political platform as an independent candidate Bloomberg "Open Interest" Co-Host Matt Miller on Tesla working on a redesign of its door handles that have drawn safety scrutiny Bloomberg News Reporter Zach Mider on Treasury Secretary Scott Bessent’s contradictory mortgage pledges See omnystudio.com/listener for privacy information.
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Instant Reaction: Jay Powell on the Fed Decision
Bloomberg's Tom Keene, Jonathan Ferro 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 lowered their benchmark interest rate by a quarter percentage point and penciled in two more reductions this year following months of intense pressure from the White House to slash borrowing costs. Chair Jerome Powell pointed to growing signs of weakness in the labor market to explain why officials decided it was time to cut rates after holding them steady since December amid concerns over tariff-driven inflation. “Labor demand has softened, and the recent pace of job creation appears to be running below the break-even rate needed to hold the unemployment rate constant,” Powell told reporters in his post-meeting press conference. He added, “I can no longer say” the labor market is “very solid.” See omnystudio.com/listener for privacy information.
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Instant Reaction: The Fed Decides
Bloomberg's Tom Keene, Jonathan Ferro and Lisa Abramowicz break down the Federal Reserve's latest policy decision on a special edition of Bloomberg SurveillanceSee omnystudio.com/listener for privacy information.
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Babbel Makes a Splash in AI-Assisted Language Learning
Language-learning platform on Tuesday announced the launch of its new feature called Babbel Speak, which is designed to help first-time learners go from silence to speech. Introduced to the Babbel app via a new tab on the home screen, the AI-powered, voice-led trainer solves one of the most common barriers in language learning: not knowing how to begin speaking. Newly appointed Babbel CEO Tim Allen, who took over the role in June, discusses his expectations for the enhanced features as well as competition from the likes of Duolingo, and wearable translation aides from Apple and Alphabet. Tim speaks with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.See omnystudio.com/listener for privacy information.
Carol Massar and Tim Stenovec bring you reporting from the magazine that helps global leaders stay ahead, plus insight on the people, companies and trends shaping today's complex economy. Watch us LIVE on YouTube: http://bit.ly/3vTiACF.
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