crypto czar david sachs indicated the u.s.nment will not use taxpayer money to fund a strategic stockpile of the digital asset ordered by president donald trump. bloomberg technology will be speaking to david sacks. don't miss that one. the check on gap shares, they are 17.5%. in the premarket it exceeded sales estimates and saw strong results in its namesake brand along with old navy, banana republic but it did report an unexpected decline in the athleisure brand. . the results indicate the ceo's turnaround plan is paying off. elsewhere, goldman sachs is pushing managers to move away from expensive office locations. job informally by some as project wage, the aim is to drive down costs and -- project voyage, the aim is to drive down costs. the bank telling managers in new york and london to relocate to dallas or south lake city or risk losing their job. and that's your brief. jonathan: more from dani a little bit later on. five years ago, it would be like oh no, doubt send me. i love new york. five years later, i just wonder

february, for four days arranged meetings with several lawmakers including jim jordan but also david sachsnted to express their dissatisfaction with how donald trump was attacking their laws on online content and ai as government overreach. the message was not well received. the us lawmakers didn't care to try to understand their laws and they are not targeting us companies but lawmakers are like it feels like you are. feel like this is overreach and censorship. what about freedom of speech? stuart: when the day, the europeans can innovate the way we innovate i will listen to them. until then, be quiet. why did larry sankar reach out to elon musk? lauren: he wanted to investigate wikipedia, please determine what branches of the us government if any have employees paid to edit, update, lobby wikipedia? such operations should be defunded if any. it has long been a critic of the online encyclopedia he founded. >> if you look at an article about global warming from 2004, it actually tried to take her neutral position but a few years after that it was definitely 1-sided. there was a fact of the

crypto summit as trump signs the bitcoin reserve executive order, white house ai crypto czar david sachs joins us to discuss. ai spending going strong as broadcom gave an upbeat forecast with ai being a key driver in the first quarter. hpe is out with earnings but shares are tumbling because of tariffs. breaking news moments ago, russia is willing to discuss a potential truce with ukraine, but it is with conditions. they are willing to discuss a temporary truce if there is towards a final piece settlement. what's the nuance? kaylee: -- kailey leinz: we just broke the story, but this is apparently something that russia presented in saudi arabia in talks last month, a suggestion that they are willing to agree to a temporary truce provided there is an effort towards a peace deal that russia likes. specifically what they have asked for is clear guidance on the parameters of peace and what that would look like and specifically what a peacekeeping mission in ukraine would constitute as russia has rejected the presence of nato troops on u.n. soil -- on their soil. complicating the idea that fra

be joined by commerce secretary howard lutnick and white house ai and chip, the crypto czar david sachs, , another to make very highly respected people. it's great to have you guys involved and david thank you very much for coming on. david is sort of baking of intellect in that world. we had some good people. today taiwan semiconductor is announcing that they will be investing at least 100 alien dollars in new capital in the united states over the next short period of time. the bill stated the manufacturing facility i think will see it's going to be in arizona which is what i understand which is a great a great state. i i like it because i won it. but i won most of them actually there but i did. we won it and we wanted to dig the most powerful ai chips in the world will be made right here in america. and he will be a big percentage of chips made by his company but as you know they are based mostly in taiwan. and far and away the biggest. there's nobody even close. this $100 billion in investment going to building five cutting edge fabrication facilities in the great state that we just

and david sachs ai and crypto sorry. day has been marked by the creation of the first-ever united states crypto reserve. david sachs renouncing on x that the reserve will be capitalized by bitcoin owned by the federal government that was forfeited as part of a criminal or civil asset forfeiture proceeding. this means it will not cost taxpayers a dime. the u.s. will not sell any bitcoin deposited into the reserve, it will be kept as a stored value. the reserve is like a digital fort knox for cryptocurrency often called digital gold to. i'm going to risk and now a moment to that can beat reminiscent of katie couric and matt lauer on "the today show" asking what is the internet to. i'm going to risk a moment of not pretending like i am an expert on something i don't think about. every time i talked to an expert on cryptocurrency i find myself feeling like i understand it less. you saw it flashed on your screen. i decided to bring in one of the smartest people i know periods intelligence matches the bow tie, the physical app

way of exploring this then it gives background for particularly marc andreessen peter thiel, david sachs and of course elon musk. right. so these are kind of like the four tech billionaires who's in politics and the media has brought us kind of to where we are today. it their right wing radicalization. and then it also examines kind of they brought the silicon valley mentality, the move fast and break things which we're seeing now in the federal government, they brought to media and the results of this right wing alternative media ecosystem kind of created a lot of the foundation for the kind of misinformation and disinformation landscape that we find ourselves in now thank. so as you just said, we've got sort of a journalism media story here and tech, silicon valley finance story, and it becomes a political at some point, too. a lot of the book is written in terms of the individual piece that that you're focused and you sort of follow some of some the big public moments, debates that they were part of and and events even world changing events that they were part of one thing that maybe

he's senior equity strategist at goldman sachs. ben it's great to speak with you today. i mean we've had four and a half days since this latest tranche of tariffs were implemented. it almost feels like four years. and headlines moving in every direction. developments coming every which way depending on which white house official or cabinet official is speaking, including the president himself just earlier today. how do you navigate this as an investor, especially given the fact that we went into this administration just 47 days ago with stocks overvalued? >> i think. >> you're exactly right. >> the key issue so far this. year has been the market's struggle to assess the forward trajectory of the economy. and as you noted, we entered this year with investors very optimistic. >> about what that growth path would. >> look like. >> and over the last. >> few weeks we've seen a. >> very sharp downgrade. now, the good news. >> is if we look at where. >> things are priced. >> today, they look. >> much more. reasonable in our view. >> and so our base case. >> here is. still the e

way of exploring this then it gives background for particularly marc andreessen peter thiel, david sachs and of course elon musk. right. so these are kind of like the four tech billionaires who's in politics and the media has brought us kind of to where we are today. it their right wing radicalization. and then it also examines kind of they brought the silicon valley mentality, the move fast and break things which we're seeing now in the federal government, they brought to media and the results of this right wing alternative media ecosystem kind of created a lot of the foundation for the kind of misinformation and disinformation landscape that we find ourselves in now thank. so as you just said, we've got sort of a journalism media story here and tech, silicon valley finance story, and it becomes a political at some point, too. a lot of the book is written in terms of the individual piece that that you're focused and you sort of follow some of some the big public moments, debates that they were part of and and events even world changing events that they were part of one thing that maybe

he's now a goldman sachs vice chairman. with me, as you see at post nine, it's nice to have you on a day like this. >> good to. >> see you. how tough of a spot is the fed in now? >> they're going to have. to balance what. >> is a potential. >> slowing in the economy. versus the fact that inflation progress has stalled out. and if anything may be going a little bit backwards. and so unlike 2019, i was there when we cut rates in response to tariffs because we're worried about slower growth. fed is more constrained now. and so they'll have to balance the fact that the inflation job isn't done. and i agree with steve. i think when you see the s&p the forecast in march, i think the market will be somewhat disappointed. i would guess the median will be closer to two cuts, not 3 or 4. >> i mean, you've clearly articulated why they are in the pickle that they they may be where do they air. do they air on the side of the economy, even if they're worried about the impacts that they don't know from inflation, they can't let one get ou

donald trump but but david. >> sachs. >> is a large investor in bitwise asset management. would stand to. >> make an. >> enormous amount of money and with very little regulation, which is what we have right now. who's going to stop them? >> i mean, this is the this is one of the questions i want to ask you. i mean, you have so many sources in the business community, they poured hundreds of millions of dollars into electing trump and other pro-crypto candidates. what are they hoping for here? or what are you watching for in terms of what happens and who and how it's going to benefit them? >> today. >> i spoke to one of the. largest crypto investors out there who actually said to me straight. >> up, this is just a grift. i mean, in the. >> last few weeks, we have seen the civil suits that were against some of the bad guys in crypto. and let's be clear, because of the lack of regulation, we know money laundering, dark money, we know a lot of bad stuff happens in the crypto zone. it was eric trump who said they got involved in crypto because after january. >> 6th, a lot of bus

il faut qu'on sache ce qu'il s'est passé et que les associations, l'onu et différents acteurs puissent les exactions? normalement, l'armée que dirige ahmed al-charaa obéit aux ordres. je ne pense pas qu'ils aient commis les exactions dont on parle. mais on ne le sait pas. il faut voir ce qu'il se passe. - elisabeth allain: on retrouve dana alboz à damas. dana, vous nous écoutez depuis tout à l'heure. les autorités de transition ont annoncé la fin de l'opération militaire et parlent de "succès". l'osdh est incapable de dire que le calme est revenu de façon durable. pouvez-vous le dire depuis damas? - dana alboz: un calme fragile commence à revenir dans les villes de tartous et lattaquié, dans l'ouest de la syrie. les forces de l'ordre mènent des opérations pour poursuivre les loyalistes à l'ancien régime, dans des villages et des montagnes, dans des zones difficiles d'accès. la peur règne parmi les habitants de ces villages. ils ont peur d'être persécutés ou poursuivis. il y a eu beaucoup de cas de violences et de meurtres dans ces villages. beaucoup de civils ont été tués. ils étaient

joining us now is david miracle of goldman sachs -- goldman sachs.anged over the past few weeks? david: more has changed on the sentiment side. we begin to see some surveys come down from peak post-election optimism. i don't we have yet seen a substantial weakness on the hard data side. we saw one month of weaker consumer spending data but i would highlight this follows six extremely strong months and dan -- january because of weather and the can be volatile. we are still waiting to see and we are seeing more on friday with the impact of the policy uncertainty is on the hiring side and the capital spending side and that is probably the key question going forward. lisa: are you saying if we get a weaker number for nonfarm payrolls on friday, the uncertainty we keep hearing or are you saying there was weakness in the system that will come to fruition? it is important we can attribute that to. david: it is always probably a little bit excessive to draw too much from one monthly payrolls report and attributing where any strength or weakness came to recen

ipo for clark, aiming to price in april targeting $15 million with banks led by goldman sachs, j.p.n and morgan stanley. we look at possible reprieve for trump's tariffs. that is coming up, this is bloomberg. ♪ tom: these are the stories that site your agenda. bonds selloff, soaring to their highest in a decade after bonds doubled on most since 1990. trump gives carmakers and exemption. leaders gather for a summit in brussels and central cuts rates. leaving economists divided in frankfurt. the dax is putting in the best gain since 2022. the outperformance versus the u.s. counterparts continues. focus on defense pledge from germany and other nations, gains of 51 points. nasdaq futures as the tech theme continues. we have jobless claims ready in terms of data, further selloff in yields pointing higher, closing at the biggest jump since 1990. hedge funds pile into positions. 108, brent $69 a barrel. president trump is waiting exempting some agricultural goods from terrace on canada and mexico after he gave automakers a one-month reprieve. the u.s. pharmacy secretary telling us u.s. tar

i do not want sachs.t want banana republic. >> reporter: but the mayor says there are practical conditions. not every business is right on the plaza and she's worried about what could happen to those locations if there's a severe downturn in the economy. >> the concern is they don't get any foot traffic beyond the plaza. what happens if there's an empty storefront and you've got these restrictions and so then it remains empty? so that's my concern still, that there's going to be down the road maybe some downturn in the economy, downturn in tourism. all those things could happen to us and they have. >> reporter: she voted for the ordinance with a provision that exceptions could be made if elected officials decide it's in the best interest of the city and while homing healdsburg unique is a bedrock principle right now, it's not exactly written in stone. >> the good news about an ordinance, i guess, though -- this is what i've been told -- we can change it, right? if it doesn't work, we could also change the

david sachs yes, they've said make david sachs the ai and the crypto czar because he knows it so well's hugely invested. these insiders are the people making the rules. >> so this is where i'm curious as to how it's going to play out, because you're talking about deregulating the wild, wild west. so you're. >> saying it's. >> already it's already. that's exactly what i mean, right? like it's already wild enough and then you're going to deregulate it. so from a legal standpoint i'm looking at not even three, but let's say 5 to 7 years down the line. what does the sec look like in terms of how it holds up to its mission and its responsibilities? while all of this is going on. >> its mission and its responsibilities are completely different right now because the person who's in charge of the sec is all in crypto. >> i mean, the sec has to they've thrown out the rule boo. they're drafting new rules for, like, all of crypto. and let's guess, like, are these rules going to say that donald trump's meme coin is illegal? like, no, of course it's going to allow it. and the new acting head of th

christian miller glassman head of asset allocation research at goldman sachs.ow turning to the us data. a us pce inflation came in at 2.5% on the year in january, up 30 basis points on the month as expected. meanwhile, core inflation eased to 2.6% on the year, down from 2.9% in december. china's manufacturing activity grew at the fastest pace in three months in february, thanks to new orders and higher purchase volumes. the official manufacturing pmi came in at 50.2 last month, up from 49.1 in january. a private survey also showed growth, with the manufacturing pmi rising to 50.8. the annual meeting of the chinese people's political consultative conference. that's a mouthful, starts on tuesday. that will be followed by the opening of the national people's congress, where investors will be looking out for growth and fiscal deficit targets seen at five and 4%, respectively. coming up on the show, we'll take a look inside l'oreal's newest research and innovation center. as the ceo tells charlotte, the cosmetics giant wants to expand its beauty offerings. stay tune

i want to thank the white house, i and crypto czar david sachs, treasury secretary, this is david right case you don't know, you know david and the man who's doing a great job as secretary of the treasury, scott bessent, who's right here. scott, thank you very much. commerce secretary howard lutnick, wherever you may be. howard. hi, howard. >> how are you? >> he's doing some interesting work right now with all that's going on. he's right in the middle of it and doing a great job. thank you. sba administrator kelly loeffler. and thank you, sec commissioner hester peirce. thank you. hester, acting cftc chairman caroline pham. house majority whip tom emmer hello, tom. representative bryan steil, thank you, brian, thank you very much. digital assets council director bo hines. good bo, great job and many other distinguished guests. we have a lot of very distinguished people around the table. some of them will be speaking. i want to thank marco rubio also, who's right over there. and we have tremendous people very interested in this subject. and last year i promised to make america the bitcoi

i kind of say the manage the cool was very difficult to goldman sachs conditions. but they managed to do something regarding the sole unlimited amount of home and the administrative amount of items which have fixed on your last so many. it shows that it was on the 1000000 impression and we wish that we will not reach this point. yes is very complicated to manage on such conditions. many of these days. yes, we have these 5 love the the positions are getting worse and worse. thank you so much for talking to us about this. thank you for your time mr. i'm josh. show our director of the palestinian and jose network now as israel is located of gaza continues, as you've heard that the us, as we've been reporting, has been holding directs talks with her moss. let's bring in your day who's in amman from on this, nor is in amman because it's really government in the palestinian authority have found out just here from reporting from israel. knew of quite significant that these direct talks has been going on between the americans and how mosque did israel have prior knowledge

martin carney, global and economist and bank are a former executive for goldman sachs, the former governor of the bank of canada. and the bank of england is canada's new prime minister. and throughout his election campaign, he said his experience as the 1st person to serve as the governor of 2 central banks meant, he was the best candidate to deal with us president donald trump and any trade war with the united states. and in a sense, we will never, ever be part of the united states in any way, shape or form. we have to recognize that donald trump today is different than the donald trump of several years ago. then his objective was to take more of our market now he wants to take our country. as soon as justin crudo announced he was stepping down in january. carney became a favorite to replace him during his campaign. courtney said he push dollar for dollar retaliatory terrace against the united states and promise to grow the canadian economy. which under true, though carnie said was not good enough. the election of a relative political outside or could mean a fresh start for the liberal pa

we were at amazing in new york in parliament that were jeffrey sachs said this is not even baby geo politics. he said, this is not thinking of all. and i think he's right. they are not painting at all. they've been completed about 10 years ago. europe decided to look at its decides how would they make themselves safer? and to come up with the answer they advise, it's what they called bizarrely, a group of personalities and they weren't movie stars. they were actually in the majority, they were representative. so if you are p and defense industry and they came up with a solution which was do you know how to make yourselves safe? now the best way to do that, just by spending a lot more money on militarization on from da surprised surprise. that's what they gauge. and the very same companies who advise them, who says we're, we're not, we're your partners weren't, we're not industry but your partners. they were the beneficiaries of those contracts, and that's where you saw the 1st your being defense found, and this is all before the warm ukraine for, for the 1st time that we're giving a big in y

but earlier i was speaking with right now and economist jeffrey sachs about the complex relations between ukraine, america, the you also of goals with roster, and this new multi polar world have i listened to your so he's got trapped by following the united states getting a blind to kind of way, guy, and just trying to be the great cheer leader of us a gemini. i obviously, the whole us approach. the unit polar approach was delusional. what happened during the last 30 years? i'm going to put it because this is a 30 year us project. is that the united states said were you in a polar, we do what we want. we expand militarily, where we want, we expand our influence, where we want i, in 2008 the us said, now we move made over to ukraine to georgia. i and a, this is a replay, by the way of the pry me and more of 185321856, almost a, almost almost at the blueprint. and the russians said, no, i, that's not going to happen. i. the point is, europe got into line with it. the u. s. a strategist, so if i could call them and it's, it's the exaggeration in my view. but the us strategist said, when, bec

so he's got a lot of economic policy acumen and credibility, because he's originally from goldman sachs and then he became a g 7 deputy at the ministry of finance where, where i know i'm from. and then he went on to be governor of the bank of canada, a governor of the bank of england headed the financial stability board. so he's got a lot of credibility in that area. in terms of dealing with mr. trump, you know, mark carney's so he's a tough customer. he's very clever. he's very confident. i'm very charming. uh so i think, and i, i do think, and i don't mean this in, at the george of what i think he has. i think he can go for the drug dealer as mr. trump can. so i think he is a, i think he can, to a great extent. so some of those expectations that canadians may have of him, but not connie has a lack of real political experience, doesn't cammie could that's eventually become a week. well, i mean, the officially, you can say yes, he has a lack of political experience that may help in somebody's. he doesn't seem like a career politician, but he's got a political mind. i don't think any eco