The Department of Justice is appealing the ruling that cleared Time Warner's $85 billion merger with AT&T, the government announced just before we put out yesterday's show. Today, we're trying to game out what's next, especially since the merger's already begun. Then, we'll look at the other huge media deal in the offing: Disney and Comcast's bidding war for 21st Century Fox, and Hulu's role in it. And, of course, we'll tackle the fire hose of political news in the Weekly Wrap.
Jay Powell's been the chairman of the Federal Reserve for about five and a half months. His office in the Federal Reserve Building on Constitution Avenue is still getting put together, but he's already put his mark on the central bank and chatting with us today is part of that. We talked about transparency, trade disputes and stagnant wages, but he wasn't able to talk about inflation. The numbers came out just minutes after our conversation ended, and they showed consumer prices are growing faster year over year than they have since 2012. We talk about what that means for the Fed and for you.
In the five months since Jerome “Jay” Powell took over as chairman of the Federal Reserve, the country is facing a growing number of tests: stagnant wage growth, tariff disputes around the world and a White House that likes to publicly offer the Fed economic advice.
In his first broadcast interview since taking the job, Powell told Kai Ryssdal that he is “not concerned” about political pressure and that he’s keeping his focus on carrying out the Fed’s mandate from Congress: “We have a long tradition here of conducting policy in a particular way, and that way is independent of all political concerns,” he said. They also talked about The White House's ongoing trade disputes, why wages aren't rising and inflation. You can also read the whole thing here.
If you thought all the Chinese trade talk was testy, you should see footage from President Donald Trump's first day of North Atlantic Treaty Organization meetings today. Trump slammed American allies, saying "many countries owe us a tremendous amount of money" from years of defense spending. And that was just the photo op. We'll fill you in on the NATO meeting and what to expect during the next few days of talks in Brussels. Plus, the latest on those tariffs. Then: Like a lot of cities hit hard by the housing crisis, foreclosed homes in South Euclid, Ohio were bought on the cheap by investors, who planned to flip them when the market recovered. But it didn't, really, and now some landlords are unloading them with shady rent-to-own deals.
President Donald Trump's nomination of Brett Kavanaugh to the Supreme Court came with a little surprise and a lot of theater. But what happens next should come as no surprise at all: millions of dollars and hundreds of hours of advertising for and against Kavanaugh's appointment. We'll talk about what to expect. Then: We'll explain the upcoming rent control ballot measure in California, and what it could mean for the affordable housing crisis around the country. Plus, what you need to know about Trump, Pfizer and the market for one of that company's most profitable drugs: Viagra.
We've heard of a "soft Brexit" and a "hard Brexit," but what about a "BRINO: Brexit In Name Only"? We'll kick off today's show with everything you need to know about negotiations and the furor Prime Minister Theresa May is trying to manage on a tight deadline. Then, we'll look at the future of HBO after the Time Warner-AT&T merger — and why it might look a lot like Netflix. Plus: We love to do the numbers, but there are a lot of them. So what are the best figures to look at if you want to know how the economy is doing? You've always wondered, so we'll break it down.