Big Take

• The Fed Just Cut Rates Again. Here’s What’s Ahead for 2026

  On Wednesday, the Federal Open Market Committee cut rates by 25-basis points. It was the scenario a lot of close watchers of the Federal Reserve expected — but what comes after this Fed Meeting is an open question. With President Trump poised to name Chair Jerome Powell’s replacement by early 2026, both markets and the Federal Reserve itself could start to look to Trump’s nominee for guidance. Kevin Hassett has emerged as the front-runner for the role, who currently serves as director on Trump’s Council of Economic Advisers. On Today’s Big Take podcast, Bloomberg Economics’ Chief US Economist Anna Wong joins host Sarah Holder to break down the economic impact of the latest rate cut and what the Federal Reserve could look like next year if Hassett is nominated to succeed Powell. Read more: Fed Cuts Rates With Three Dissents, Projects One Cut in 2026See omnystudio.com/listener for privacy information.

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• India Wanted to Become The World’s Toymaker. Then Tariffs Happened

  The US tariff war with China sent American companies scrambling to find alternative manufacturing hubs. India looked promising until the White House upended everything. On today’s Big Take Asia podcast, K. Oanh Ha heads to India, where she goes inside two toy factories scrambling to adapt to Washington’s shifting trade policies. How sky-high tariffs are undercutting India’s ambitions to take China’s crown as the world’s factory floor and forcing American manufacturers to make a tough choice. Read more: Cutting Ties With China Is Harder Than Companies Expected Further listening: An American Toymaker Struggles to Break Up With ChinaThe American Toymaker Suing Trump Over Destructive TariffsSee omnystudio.com/listener for privacy information.

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• What to Expect in the DOJ Epstein Files Release

  After last month’s passage of the Epstein Files Transparency Act, the US Department of Justice is on the clock to release an enormous cache of documents related to convicted sex trafficker Jeffrey Epstein. So what could be in the files? And what might the government hold back? On today’s Big Take, host David Gura is joined by Bloomberg investigative reporter Jason Leopold, who specializes in making government documents public and co-hosts Bloomberg’s Disclosure podcast. They talk through how the release could play out and how to parse the files once they’re available. Subscribe to Jason’s FOIA Files newsletter and Disclosure podcastSee omnystudio.com/listener for privacy information.

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• Weekend Listen: Salman Rushdie Isn’t Afraid of Free Speech

  Salman Rushdie was nearly killed when he was stabbed 15 times on stage in upstate New York in 2022. His injuries were so severe that he lost an eye. It was an attack that came decades after he was first subjected to death threats over his novel, The Satanic Verses.Once he had recovered, he found he was unable to write fiction. However, after publishing an account of what happened to him, the stories returned, with five brought together in his latest book, The Eleventh Hour.In this conversation with Mishal Husain, Rushdie talks about free speech, the family connection they both share and the places he’s called home, from India to Britain and the US. 02:30 - “Don’t waste your time”04:40 - Writing as a form of optimism05:00 - Starting out as a writer 08:00 - Meeting E.M. Forster as a teenager10:00 - “You write the story to find out what story you’re writing”11:15 - Writing Midnight’s Children 12:46 - The family connection between Salman Rushdie and Mishal Husain14:35 - The women in the family16:00 - Getting together as a family17:55 - Returning to India to write about childhood20:30 - Reclaiming India 22:55 - India today and Prime Minister Modi24:24 - “If you’re paying attention you see things coming”24:50 - The family reacts to Midnight’s Children26:44 - A farewell to India? 28:45 - Before and after the fatwa31:30 - Defending free speech 32:25 - Banning books in the US34:30 - Zohran Mamdani’s campaign38:50 - The next novel 40:25 - “I’m a bit clumsier”Watch this podcast here: https://www.youtube.com/playlist?list=PLe4PRejZgr0Ns_wjGlmjlPz0cded0nTYS You can find the written version of this interview with Mishal’s notes on Bloomberg Weekend: https://www.bloomberg.com/latest/weekend-interview Contact The Mishal Husain Show [email protected] Subscribe today on Apple Podcasts and Spotify.See omnystudio.com/listener for privacy information.

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• Netflix’s $82 Billion Power Play for Warner Bros.

  News broke overnight that Netflix is acquiring Warner Bros. Discovery in a cash-and-stock deal valued at $82.7 billion. It’s a deal raising eyebrows in the entertainment industry, from Netflix competitors including Paramount — and reportedly even the White House. On today’s Big Take, host David Gura sits down with Screentime writer and entertainment reporter Lucas Shaw to discuss the ins and outs of the deal, what we know about how it would impact viewers at home, and the regulatory challenges moving forward.See omnystudio.com/listener for privacy information.

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