Bloomberg Intelligence

Bloomberg's Lisa Abramowicz and Scarlet Fu discuss remarks from Fed Chair Kevin Warsh following the Federal Reserve's latest policy decision on a special edition of Bloomberg Surveillance.

Warsh vowed to restore price stability following his first policy meeting since taking the helm of the US central bank, after officials left interest rates unchanged and signaled growing support for rate hikes this year.

“Persistently high prices are a burden for the American people, but the recent past need not be prologue,” Warsh said in his debut press conference as chairman. Officials “are unambiguous and unanimous. This committee will deliver price stability.”
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Bloomberg's Lisa Abramowicz and Scarlet Fu break down the Federal Reserve's latest policy decision on a special edition of Bloomberg Surveillance.
Federal Reserve officials left interest rates unchanged and were split over whether they expect to raise rates this year.
Policymakers’ new projections indicated nine officials foresee at least one quarter-point hike this year, with six anticipating at least two. Another nine expected no move or a cut.
Notably, only 18 officials out of 19 entered their projections for rates at the end of 2026. The absence of an entry suggests new Chairman Kevin Warsh, who has been critical of so-called forward guidance, declined to submit a rate forecast.
In its first gathering under Warsh’s leadership, the Federal Open Market Committee voted unanimously Wednesday to hold its benchmark federal funds rate in a range of 3.5% to 3.75%.
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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu
Antonio Neri, HPE CEO, discusses the latest company news. Hewlett Packard Enterprise Co. introduced new networking gear for artificial intelligence data centers, building on the products it acquired from Juniper Networks. HPE unveiled networking switches that are specialized for inferencing, or running AI workloads, and said Siemens Energy AG will use a collection of AI technologies it has built with Nvidia Corp.
Mandeep Singh, Global Tech Research Head at Bloomberg Intelligence, discusses the latest at SpaceX and OpenAI. SpaceX shares declined for the first time since its record initial public offering, snapping a three-day rally that vaulted it past Amazon.com Inc. as the world’s fifth-largest stock. According to Bloomberg Intelligence: OpenAI’s losses of about $34 billion, coupled with the lowering of its token pricing for its latest model, show the company’s focus on expanding beyond consumer and into enterprise use cases, including coding-agent and LLM APIs, where Anthropic and Cursor (bought by SpaceX) have higher market share.
Michael Dean, Bloomberg Intelligence Head of Global Autos, discusses BMW saying its profit margin could dwindle to as little as 1% this year due to weakening Chinese demand and fallout from the Middle East conflict. The company plans additional cost savings beyond those announced this year, which will weigh on its business during the second half of the year.
Poonam Goyal, Senior U.S. E-Commerce and Retail Analyst at Bloomberg Intelligence, discusses Bloomberg Intelligence’s deep dive into E-Commerce. According to BI: Artificial intelligence is pushing US e-commerce into its next growth phase, with sales topping $2 trillion next year and nearing $2.6 trillion by 2030, despite pressure from tariffs and inflation. Amazon.com remains dominant, but Walmart, EBay, Wayfair, Temu, Shein, Etsy and Shopify-enabled merchants are widening competition through fulfillment, product data and agent-led shopping.
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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

-Seth Fiegerman, Bloomberg AI Team Leader, discusses SpaceX agreeing to take over Cursor in a deal that values the startup at $60 billion, part of Elon Musk's efforts to catch up with rivals on coding tools. The deal is expected to close in the third quarter, with Cursor investors having the right to receive SpaceX stock based on the implied $60 billion equity value of the startup.

-Gautam Mukunda, Lecturer at Yale School of Management and Bloomberg Opinion contributor, discusses his Bloomberg Opinion column: “Trillionaires and Republics Will Be a Toxic Mix.” SpaceX’s initial public offering made Elon Musk the world’s first trillionaire, giving him absolute power. A mega-billionaire has resources that approach or exceed those of many nation-states and can convert their wealth into power. The exchange rate between wealth and power has never been so favorable, with some individuals spending large sums on presidential elections and having significant influence over government decisions.

-Poonam Goyal, Senior U.S. E-Commerce and Retail Analyst at Bloomberg Intelligence, discusses how AI is pushing US e-commerce into a new growth phase. According to Bloomberg Intelligence: Amazon.com's Prime Day will be an early test of whether AI-driven shopping and bargain hunting can coexist. As inflation, higher gas prices and tariff-related costs keep consumers focused on value, Bloomberg Intelligence's fifth annual proprietary survey suggests shoppers are entering the June 23-26 event seeking deals with convenience and delivery speed defining Prime's core appeal.

-Michael Halen, Bloomberg Intelligence Senior Restaurant and Foodservice Analyst, discusses Yum! Brands selling its Pizza Hut division for $2.7 billion to focus on its KFC and Taco Bell chains. Private equity firm LongRange Capital will acquire Pizza Hut excluding China for $1.5 billion, and Yum China Holdings Inc. will buy the rest for $1.2 billion.
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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

-Geetha Ranganathan, Bloomberg Intelligence Analyst on US Media, discusses Fox agreeing to acquire Roku Inc. in a deal valued at about $22 billion including debt, creating a new television juggernaut and marking a big push into ad-supported streaming.

-Anurag Rana, Bloomberg Intelligence Technology Analyst, discusses Salesforce agreeing to buy Fin, a firm that develops artificial intelligence-powered customer agents, for about $3.6 billion as the software company works to win new business for enterprise AI.

-Mandeep Singh, Global Tech Research Head at Bloomberg Intelligence, discusses the US government ordering Anthropic to disable access to its most advanced AI platforms for all foreign nationals after discovering it's possible to "jailbreak" the Fable 5 AI model.

-Carmen Reinicke, Bloomberg Equities Reporter, discusses the Bloomberg Big Take story: “The $12 Trillion Stock Squeeze Gives Way to IPO Market Boom.” The US stock market is poised to see a surge in new equity issuance, with IPOs, secondary offerings, and other share sales expected to add roughly $1.5 trillion of stock to the market over the next two years. Companies such as SpaceX, OpenAI, and Anthropic are leading the charge, with plans to raise hundreds of billions of dollars in capital to fund their expansion and meet the enormous spending demands of the artificial-intelligence boom.
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