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Harold Hamm's Continental Set to Announce Venezuela Oil Deal

Bloomberg's Kevin Crowley joins Scarlet Fu on "Bloomberg Deals." Billionaire shale pioneer Harold Hamm's Continental Resources Inc. is set to announce a deal to invest in Venezuela as the Trump administration pushes US companies to revive the nation's oil sector, according to a person familiar with the matter.

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Trump's AI Defense Defies Voter Unease Ahead of Midterms

Bloomberg's Michael Shepard joins Scarlet Fu on "Bloomberg Deals." Senior Trump administration officials met Tuesday with Anthropic's top Washington executive to discuss AI's safety risks. Anthropic's IPO preparations came as OpenAI CEO Sam Altman, Anthropic CEO Dario Amodei and Elon Musk on Saturday all voiced the need to slow the pace of AI development due to escalating risks from the technology.

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Fed Chairman Warsh Calls Rate Hike a 'Sober' Decision

"The decision we made today was a sober decision, serious decision, responsible decision, one that we have been preparing for and thinking about in my hundred and ten or twenty days here," Federal Reserve Chairman Kevin Warsh said after the FOMC raised interest rates by a quarter percentage point. He speaks in Washington.

Read more: Fed Chairman Warsh Calls Rate Hike a 'Sober' Decision
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Zuckerberg, Huang Break With Industry Leaders on AI Warnings

Bloomberg's Mike Shepard said President Trump's opposition to AI guardrails is another instance of his anti-regulation position across all industries, as well as his closeness with Nvidia CEO Jensen Huang who recently pushed back on fears about AI safety. Shepard said that President Trump is also looking to his meeting with China's President Xi and wants no obstacles around AI heading into that conversation.

Read more: Zuckerberg, Huang Break With Industry Leaders on AI Warnings
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AI Is 'Huge Factor' In Success of US Economy, Says Stephen Moore

Stephen Moore, former senior economic adviser to President Donald Trump said that the AI industry is a 'huge factor' in the US economy given both the investment pouring into the space and the data center construction boom. Moore also discussed high oil and diesel prices, saying that as the price of energy rises so does 'everything else.' Despite high energy prices, Moore says he's bullish on the outlook for the US economy.

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Bloomberg
Financial

Fed Unanimously Raises Rates by a Quarter Point

The Federal Reserve voted unanimously to raise interest rates by a quarter percentage point and penciled in an additional hike later this year, steps aimed at containing inflation that will test Chairman Kevin Warsh's relationship with President Donald Trump. The benchmark federal funds rate is now in a range of 3.75% to 4%. Bloomberg's Michael McKee reports.

Read more: Fed Unanimously Raises Rates by a Quarter Point