Bloomberg Audio Studios, podcasts, radio news, the.
Single best idea and really want to speak about subscribing to Bloomberg podcasts. Search Bloomberg Podcasts on YouTube to search Bloomberg Surveillance, but all of our other product over the weekend out of Apple Podcasts, extraordinary political coverage today. We'll get to that in a moment, but I just really can't emphasize enough the eclecticism away from what I'm doing every day here at Bloomberg News and across all of our audio and video product. It's just been an exhausting
and extraordinary twenty four hours. Last night, seven pm ish, I did a quick call with the various people that tell me what to do, and I said, there's only one name I really want to talk to, and he's a prosecut and lo and behold, Eric hit the ball out of the park and we were able to line up someone it's tough to get and for those of you of a certain age, you will remember the name Leon Jeworski. Nick Ackerman was an assistant to Leon Jeworski
at Watergate. He comes out of U mass Amherston, Harvard. He's absolutely definitive, literally the stereotype of the grizzled prosecutor, and he's hugely popular within the media because there's no flamboyancy. There's none of this modern theatric stuff. It's literally what Perry Mason tried to be fifty sixty years ago. It's just straightforward discussion. I was thunderstruck at Nick Ackerman's comments this morning.
Let's listen based on at least the fact that Michael Cohen served three years for these violations, and that Alan Weiselberg, the CFO of Trump Org, who is instrumental in setting up the phony corporate records on this and the payments that went out to reimburse Michael Cohen. He's already served three months in Rikers Island for unrelated matters and now he's serving three months another three months in Rikers Island
for Lyne. And I think the judge is going to have to consider that here are two people that were instrumental in this crime that did serve jail time, and I find it hard to believe that he is not going to feel compelled to give Donald Trump at least some jail time.
Is it something creative and different or is it Are you telling me the former president of the United States could enjoy a month at Rikers Island.
Yeah, absolutely. I mean I think what they'd have to do was create a presidential suite at Rikers Island because the Secret Service has to be there with him. Obviously, I think there is a very strong likelihood that he is going to be sentenced to imprison them. Will he be protected from other prisoners. I'll just be as direct about it as I can. Absolutely, I don't see how anyway he can be put into the general population.
Nick Ackerman, and I can say, in multiple decades of doing this, that is one of the most extraordinary seven minute conversations I've ever ever heard. Thanks to Joe Matthew and Balance of Power for helping us deliver mister Ackerman to you. I'm Bloomberg surveillance. So there was economic data today as well, key inflation data, at least for the FED.
Jason Furman was along from Harvard University's Slice and Dy said, I love Professor Furman's ecumenical inflation analysis, taking twenty four data points from I believe it's eight series, I can't remember, and he's got a fancy grid out there. You pass fail for X ten and you know where I am on that matrix. But Jason Furman, with an ecumenical CPI market economists in the trenches have to react to this very quickly. Here is Neil Dutta of Renaissance Macro on the economic data this morning.
When economics you have often different ways of measuring the same kind of concept. You have cp GDI, you have PC and CPI, and the PCE number it just covers them. It has a much wider scope, right. That's why unlike CPI forty percent is not shelter, right, I mean, because they have it has a much wider scope. But also it looks at things covering payments made on behalf of an individual. I mean CPI only looks it out of
pocket expenses. So I think one way of thinking about it is CPI kind of reflects what people think they spend their money on, and the PC data reflects what people accreate their money on. And I think that's one of the reasons why that looking at pcee.
Neil Dudda there on the inflation report, the summary of it, I mean, in the blur of all we did this morning, I've got to admit I'm pretty much off target on it. Other than to say there was a negative statistic for inflation adjusted spending. That does get my attention. Some of the voices we spoke to said, well, that's just one data point and we'll have to see. But some very good charts out today. I think it was Neil Dudda Renmack that put up a chart showing the continued disinflation
of certain inflation sectors out there. Of course, all of it wrapped around real estate as well. The single best idea is just a set of conversations, and those conversations happen in a blur. I can't begin to describe the blur when there's breaking news and important news about trying to get you the best voices that are out there.
I thought we were successful today to stay away from punditry and to talk about the future the nation, the future of our executive branch, and of course what we'll see as we take this one hour exactly before scheduled comments from the former President of the United States. We're out an android on Apple car Play, look for that on YouTube. Search for Bloomberg Podcasts and you can subscribe
to Bloomberg Podcasts. And that's important given just the wall of news we're being hit with here in the end of May, and on Apple podcasts of course, each day we can, we give you single best idea