Bloomberg Daybreak: US Edition Bessent Calls for Fed Building Review; Stocks at All-Time Highs
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Jul 22, 2025 John Tucker, Bloomberg Radio correspondent covering the Federal Reserve and Washington developments, joins to discuss key topics impacting the financial landscape. He sheds light on Treasury Secretary Scott Bessent's call for an investigation into the Fed's costly renovations. The conversation also dives into the bullish stock market, with asset managers capitalizing on record highs despite global trade tensions. Additionally, Tucker touches on crucial meetings between U.S. and Japanese trade officials as tariff deadlines loom.
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Bessent Demands Fed Review
- Treasury Secretary Scott Bessent calls for a review of the Federal Reserve's renovation decisions.
- He suggests an exhaustive internal review of non-monetary functions to protect the Fed's independence.
Stocks Defy Geopolitical Turbulence
- S&P 500 continues to reach record highs despite geopolitical issues.
- Strategist Christopher Harvey predicts the index will rise above 7,000 by year-end.
Asset Managers Embrace Risk Rally
- Major asset managers are increasing bets on technology and emerging markets.
- Their optimism assumes a rollback from extreme trade disruptions by President Trump.