Benedict Kamel, the managing editor for Bloomberg News specializing in space and aviation, discusses the U.S. government's dramatic 10% flight capacity cut announced during the prolonged shutdown. This decision impacts high-volume markets but spares international routes, aimed at alleviating pressure on air traffic controllers. Meanwhile, reporter Monica Riggs covers the aftermath of the Louisville UPS crash and insights on SNAP benefit revisions, highlighting how the ongoing shutdown deeply affects the economy.
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insights INSIGHT
Staggered Flight Cuts To Protect Safety
The FAA will cut flight capacity by 10% at 40 high-volume U.S. locations to relieve strain on air traffic controllers during the shutdown.
Reductions start with staggered 4% and 5% cuts and spare international routes, increasing disruption risk if shutdown continues.
insights INSIGHT
Shutdown Deepens Economic And Political Stakes
The government shutdown is now the longest in U.S. history and is costing the economy roughly $10–$30 billion per week.
Senate Democrats, buoyed by election wins, demand extending Obamacare premium tax credits to force negotiations.
question_answer ANECDOTE
Mamdani Won On Affordability Platform
Zoran Mamdani won New York City's mayoral race campaigning on wealth inequality and affordability.
He signaled willingness to meet Wall Street leaders like Jamie Dimon despite progressive stances.
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On today's podcast: 1) The US will cut flight capacity by 10% at 40 high-volume markets across the country, though international routes will be spared, to alleviate pressure on air traffic controllers and the aviation system during what is now the longest government shutdown in history. The changes will start Friday, Transportation Secretary Sean Duffy said during a press briefing alongside the leader of the Federal Aviation Administration, Bryan Bedford. The agency plans to release the markets impacted on Thursday. The reductions are expected to be staggered, with US carriers informed Wednesday night that they should plan to cut flight volumes by 4% on Friday and 5% on Saturday, according to people familiar with the matter. 2) The US government shutdown has become the longest in history, and with no sign of a resolution soon its economic toll is deepening. Now in its 37th day, the shutdown has surpassed the previous record set in early 2019 during President Trump’s first term. Every week that passes costs the economy anywhere from $10 billion to $30 billion, based on analysts’ estimates, with several landing in the $15 billion range. Senate Democrats, bolstered by big election wins for their party Tuesday, are doubling down on demands for Republicans to negotiate extending Obamacare premium tax credits, or see the government shutdown drag on. 3) Zohran Mamdani clinched New York City’s mayoral race by campaigning against wealth inequality and promoting affordability. Now, he faces the challenge of delivering on the promises that got him elected while coming to the table with the city’s wealthiest residents, who have an outsized influence on the city’s politics, economy and revenue. At least one early Mamdani appointment shows that he is intent on taking a progressive approach toward business and economics. The mayor-elect has tapped former Federal Trade Commission chair Lina Khan to his transition team, a figure who raised the ire of corporations and dealmakers with her tough stances on antitrust cases. But Mamdani also said on Wednesday that he looks forward to meeting with JPMorgan Chase & Co.’s Jamie Dimon and other business leaders to discuss the city’s future, emphasizing the need for collaboration despite policy differences.
Bloomberg Daybreak: US Edition