Bloomberg News Now July 17, 2025: Crypto Bill Passes, Trump Responds to WSJ Article, More
Jul 18, 2025
Delve into the latest bipartisan bill regulating stablecoins, reshaping the $265 billion market. Discover the political dynamics surrounding Donald Trump and his ties to Jeffrey Epstein. Tune in for insights on Netflix's growth strategy amidst subscriber declines and the surprising cancellation of 'The Late Show with Stephen Colbert.' Plus, get an update on the Open golf tournament's leaderboard.
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First Stablecoin Law Passed
- Congress passed the first federal legislation regulating stable coins, legitimizing a $265 billion market.
- This law aims to enable faster, cheaper payments through bipartisan support.
Fed Building Renovations Explained
- The Fed is renovating two 1930s buildings requiring asbestos removal and interior reinforcements.
- Cost increases stem from uncontrollable circumstances, not VIP elevator construction.
Cut Rates Before Labor Worsens
- Fed Governor Chris Waller urges cutting interest rates preemptively to bolster a weak labor market.
- Acting early could mitigate further economic deterioration before inflation rises.