Bloomberg News Now August 21, 2025: CA Redistricting Plan Approved, DOJ Signals Probe of Fed's Cook, More
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Aug 22, 2025 A new redistricting plan in California aims to bolster Democratic representation and responds to Republican maneuvers in Texas. Inflation trends and monetary policy updates are also on the agenda. In tech, production halts due to Chinese regulations and executive changes at Meta make headlines. Legal battles arise with a court ruling impacting a federal prosecutor's role, alongside the Attorney General's appeal plans. A case study illustrates how tech glitches can cause financial woes for businesses, emphasizing the need for proactive solutions.
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Redistricting Escalates Partisan Battles
- California lawmakers passed a partisan redistricting plan aiming to win Democrats up to five more U.S. House seats by 2026.
- The move is framed as retaliation after Texas Republicans advanced their own map to boost their House majority.
Fed Watching Inflation Signals Closely
- Chicago Fed head Austin Goolsbee says mixed inflation data leaves hope inflation woes may be a blip.
- Markets will watch Fed Chair Jay Powell's speech for clues about future interest-rate moves.
FHFA Refers Cook Case To DOJ
- FHFA Director Bill Pulte referred an investigation of Fed Governor Lisa Cook to the DOJ as routine mortgage-fraud enforcement.
- The DOJ signaled the matter needs further examination, noting only the president can remove a Fed governor for cause.