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- [00:00]
David Gura
So there's a lot of noise about AI, but time's too tight for more promises. So let's talk about results. At IBM, we work with our employees to integrate technology right into the systems they need. Now a global workforce of 300,000 can use AI to fill their HR questions, resolving 94% of common questions, not noise. Proof of how we can help companies get smarter by putting AI where it actually pays off. Deep in the work that moves the business. Lets create smarter business.
- [00:29]
Sponsor/Commercial Announcer
IBM okay, before we get into it, little side note for the IT leaders listening in. I was reading up on a Microsoft Commission survey the other day and learned that teams using Windows 11 Pro PCs report 62% fewer security incidents compared to Windows 10 PCs, including three times fewer firmware attacks. Pretty significant.
- [00:51]
David Gura
With security built in, you'll have AI ready it.
- [00:55]
Sponsor/Commercial Announcer
That sets you up for operational efficiency
- [00:57]
David Gura
as well as long term resilience.
- [00:59]
Sponsor/Commercial Announcer
Upgrade to Windows 11 Pro@Windows means business.com this coffee shop running smooth thanks to genius from Global Payments, Instant transactions, effortless inventory and synchronized operations. Big league reliability for any business, that's genius.
- [01:21]
Christine Raffini
Bloomberg Audio Studios Podcasts Radio News welcome to the Bloomberg this Weekend podcast with David Gura, Christina Raffini and Lisa Mateo. Thanks for joining us for today's selection of conversations from the show.
- [01:40]
David Gura
You can listen to our favorite discussions right here on the podcast, but also make sure to join us live every Saturday and Sunday morning starting at 7am Eastern.
- [01:48]
Lisa Mateo
We're on Bloomberg Television Radio and the Bloomberg Business app, bringing you unique takes and in depth interviews on news, politics, lifestyle, culture.
- [01:59]
Christine Raffini
All right. Tomorrow we will hopefully get word on more opinions from the Supreme Court. Key decisions are still on the docket, including birthright citizenship and President Trump's attempt to fire Federal Reserve Governor Lisa Cook.
- [02:11]
David Gura
Joining us now is Bloomberg Supreme Court reporter Greg Storr. He's been incredibly busy filing numerous reports and all the decisions we have got handed down. Waiting on these, of course. Let's take them in kind if we could. And let's start with that Lisa Cook decision. This is about whether the President can do this temporarily, but of course the ramifications extend far beyond that. Greg, get us up to speed on sort of where things stand and how the arguments in that case kind of color what you expect to happen when that is handed down.
- [02:35]
Greg Storr
Yeah, Good morning, David and Christina. This is a huge case for the independence of the Federal Federal Reserve. The President has tried to fire Lisa Cook, a Fed governor, for alleged mortgage fraud. She denies the allegation and the question before the Supreme Court as You said is just whether he can oust her while that legal fight goes forward. The arguments back in January did not go especially for the President. There was certainly a lot of skepticism that he should be allowed to remove her before she even had a chance to defend herself, defend herself against the allegations, and to say that he's overstepping his authority. The court was also, though, pretty, pretty wary of what this decision might mean down the road for other cases. There's concern about saying too much about what power the president does have to fire somebody. Federal law says that he can fire somebody for cause. Exactly what that means, it has not been spelled out. So we may get a relatively narrow decision that keeps her in office, but doesn't answer every single question.
- [03:38]
Christine Raffini
This is also tied to another case that we're waiting for, which is the FTC commissioner, Slaughter v. Trump, because it's a different federal agency, and it's likely the court is going to support the President in that one. But based on the arguments and what we were hearing from even some of the conservative justices, they seem very leery of the president's power to get rid of Cook. So talk to us about the difference in this case and how you think the court might try to split those different arguments.
- [04:08]
Greg Storr
Right. So that case is known as Slaughter has to named after a Democratic member of the Federal Trade Commission. So it goes back to the 1930s. The Supreme Court at that point said Congress can set up independent federal agencies and say the leaders of them, the commissioners of the ftc, for example, can't be removed unless the President has a good reason like misconduct. And that laid the legal groundwork for the administrative state that we all came to know. And the Supreme Court has been chipping away at that. And what the court could do this coming week is say we're going to overturn that big 1935 precedent and say the President can fire the heads of those agencies for any reason because. Because they have executive powers and the executive power under the Constitution belongs to the President, So he must be able to fire them whenever they're not adhering to his policy preferences. Now, important note, the Supreme Court has suggested earlier that the Fed is not part of that discussion, that the Fed is different, and that whatever it does in this case involving the Federal Trade Commission is not going to affect the Fed. And that's why the Lisa Cook case matters. Because there, the President says it's not just for any reason. I think she has done something wrong, and that's why I'm firing her. So that's a Different category of case, Greg.
- [05:27]
David Gura
The other big one that we're waiting for is this birthright citizenship case. And correct me if I'm wrong, my understanding is by statute and by the 14th amendment, if you have a kid in this country, regardless of who you are, in all likelihood that kid will be a US Citizen. The Trump administration wants to change that policy. Again, I'll ask you sort of what the arguments in that case tell you about what outcome we might see here when that decision is handed down.
- [05:50]
Greg Storr
Yeah, that's exactly right. So the 14th Amendment, enacted after the Civil War, says that if you're born in the U.S. and quote, subject to the jurisdiction thereof, you are a United States citizen. And that has long been understood, as you described, basically making virtually everybody who is born on US Soil a US Citizen. And the president, when he came back into office last year, enacted an executive order that said, I'm going to limit that right to people who are born of either a US Citizen parent or a green card holder parent. And that would completely upend this understanding that everybody has had for more than a century. The arguments, again, did not go especially well for the President on that issue. There was a good deal of skepticism both on the constitutional point and the statutory point. The statutes you mentioned have the exact same language. So with both of those cases, even though this is a very conservative Supreme Court, it is not. It would not, both the Cook and the birthright citizenship case, it would not at all be surprised a surprise for the Supreme Court to rule against the President.
- [07:02]
Christine Raffini
One of the other things that I thought was interesting in the arguments is some of the justices were asking John Sauer, who's representing the government, essentially the status of the child would be in limbo and then would have to be litigated for months based on whether or not the President, I'm sorry, the parent was determined to domicile there, whether or not they had status. Like it seems like the adjudication part of that would be just insurmountable. And there's no apparatus to decide whether or not, you know, like, there's no end point for that. Right. That was one of the big arguments as well as just a lot of case law here, going back to the Chinese Exclusion act, the Dred Scott decision. This has been the long established precedent the court would be asked to go against.
- [07:41]
Greg Storr
Yeah, one of the big arguments against this is just that it would not be administrable if, if a hospital has to check for a birth certific of a parent or some other proof of citizenship from the parent in order to decide whether to issue a birth certificate to that child. There's also questions about what it would mean for people who are already born, people who were born to two non citizen parents in the past. Is their citizenship suddenly in question? So a ruling that sided with the president that upheld this executive order would have tremendous implications and we really don't what all those implications are going to be. It would be a real challenge for everybody to figure out how it would be applied.
- [08:28]
David Gura
Greg, our last question is a logistical one and somewhat selfish as well as
- [08:32]
Christine Raffini
we kind of completely selfish.
- [08:33]
David Gura
Go for it. So I understand tomorrow, Monday, 10 o' clock Eastern Time. That's the first opportunity justices have to hand down these, these decisions. I gather there's another date in the week ahead. Any likelihood that this gets pushed, that we might get decisions in the week after, for instance?
- [08:47]
Christine Raffini
Also, it's two people who have been on standby like three weeks in a row along with you for these decisions that haven't come down. Let's have it.
- [08:54]
Greg Storr
So it's selfish for me too. I certainly hope not. And in fact, I'm quite confident everything will come this week. In my time covering the Supreme Court, the only time the court has gone past the Fourth of July was in the pandemic year. And that was obviously a different category because the whole schedule got upended there. I would be I don't know when that second day is going to be, but I would be very surprised if we didn't get the last Supreme Court opinions sometime either Tuesday, Wednesday or Thursday.
- [09:21]
David Gura
We'll be waiting for your reporting and analysis. Greg, thank you very much. That's Greg Storr covers the primordial for us here at Bloomberg News and a
- [09:26]
Christine Raffini
very generous colleague who's provided a lot of guidance throughout these weeks to all of us. So thanks again, Greg.
- [09:32]
David Gura
Stay with us for more on Bloomberg this weekend, right after this. So there's a lot of noise about AI, but time's too tight for more promises. So let's talk about results. At IBM, we work with our employees to integrate technology right into the systems they need. Now a global workforce of 300,000 can use AI to fill their HR questions, resolving 94% of common questions, not noise. Proof of how we can help companies get smarter by putting AI where it actually pays off, deep in the work that moves the business. Let's create smarter business.
- [10:08]
Sponsor/Commercial Announcer
IBM support for the show comes from public.com if you're actively involved in your portfolio, you probably catch yourself repeating the same actions, buying the dip, manually sweeping Idle Cash Putting on a hedge on Public you can now create AI agents that handle all these tasks on your behalf. Just describe what you want to do in plain English like if the Vix hits 25, buy a put option on the S&P 500 or if my cash balance goes above $20,000, move the excess into my direct index. You approve the workflow and your agent handles the risk, monitoring the market, watching for your conditions and executing your strategies exactly as defined. An investing platform driven by your intent, not just your clicks. You can also get full read and write access to your account via the public API. Go to public.com market and fund your account in five minutes or less. That's public.com market paid for by Public
- [11:05]
Greg Storr
Investing Brokerage Services by Open to the Public Investing Inc. Member FINRA and SIPC Advisory Services by Public Advisors, LLC SEC registered advisor complete disclosures available@public.com disclosures when you own your
- [11:19]
Chase Sapphire Reserve Business Card Announcer
own business, you own every decision. Now own the card that rewards you for it. The Chase Sapphire Reserve for Business Card brings the best Sapphire Reserve benefits to business owners who expect hard working rewards. Designed to meet the needs of business owners at scale, this Pay in Full card elevates your travel experience and offers premium benefits and value toward business services that will take your business to the next level, fuel your business and maximize rewards with 8x points on all purchases through Chase Travel, 3x points on social media and search engine advertising, annual partnership credits and more. Make every journey more rewarding with a $300 annual travel credit and access to a network of airport lounges. Whether you're looking for pre flight productivity or time to rest and recharge. Chase Sapphire Reserved for business it's the card that gives back all you put in. Learn more@chase.com reserve business chase for Business make more of what's yours. Accounts subject to credit approval restrictions and limitations apply. Cards are issued by JPMorgan Chase Bank NA member FDIC.
- [12:32]
Christine Raffini
In December of 2025, President Trump announced plans to revisit renovate Dulles International Airport, citing that it was, quote, incorrectly designed.
- [12:42]
David Gura
We're also going to rebuild Dulles Airport because it's not a good airport. It should be a great airport and it's not a good airport at all. It's a terrible airport. It was incorrectly designed with a good building.
- [12:54]
Kristen Capps
Actually.
- [12:54]
David Gura
It's got a beautiful terminal. We have a design that's amazing for Dulles. It's going to take Dulles and make it a really bad. It was a badly designed airport.
- [13:03]
Kristen Capps
We're going to make it into as
- [13:05]
David Gura
good as there is in the country. It'll be exciting.
- [13:08]
Christine Raffini
As good as there is in the country. That's part of a $22 billion pitch aiming to remake the Washington area airport into one of the best in the world.
- [13:16]
David Gura
How feasible is that? We're joined now by Kristen Capps of citilab. Kristen, great to speak with you. The first question I had written down that I wanted to ask is, what's wrong with Dulles Airport? But maybe we could all take a chance. We could all take a turn answering that question. But this is an airport.
- [13:29]
Christine Raffini
We have so many opinions.
- [13:30]
David Gura
Let me get started. Very far outside of Washington, D.C. david's ready to go. Antiquated technology, yes. Some architecture of note, but not a very easy place to get carpeting. Tina, the carpeting. Carpeting.
- [13:40]
Christine Raffini
You're trying to drag your suitcase along this friction carpeting. And the buses, the people mover buses where you rush off the plane. You're so excited to get out, and you have to wait for everyone else who was on your plane to load into this bus to drive to the other terminal because they still don't have trains. All right, your turn, pylon.
- [13:57]
David Gura
Kristen, anything else you want to add?
- [13:58]
Christine Raffini
Jump in here.
- [14:00]
Kristen Capps
You know, the real problem with those people movers that you're supposed to load into is that they weren't designed as cocktail lounges like they were originally meant to be. I think it might be a little easier if you had wait, they were really supposed to be cocked your hand as your gate was moving. They were supposed to be. That was the idea. It was going to be a very kind of Jetsons vibe. You sit down, you have a drink, and then your gate just takes you to your plane. But as anyone who's flown into Dulles knows, that is not the vibe.
- [14:26]
Greg Storr
No.
- [14:28]
David Gura
Let me just sort of ask you where we are. We heard the president there saying, Dulles is going to be great. It's going to be an airport like it should be, et cetera, et cetera. We had the creation of this Beautifying Transportation Infrastructure Council. Has anything tangible come out of that sort of. What are the plans for Dulles that we know of?
- [14:42]
Kristen Capps
The Department of Transportation put out a request for ideas. They said, send us your suggestions. What do you want to see at Dulles? And they received a couple of dozen different responses, ranging ranging from very fantastical renderings to just comments from, you know, the peanut gallery. And after that, there was a much bigger submission, a bigger proposal that came from United Airlines and the Metropolitan Washington Airport Authority. Those are the entities that run the planes out of Dulles and run Dullitz itself. And what they had in mind was a $22 billion revitalization plan that would make it arguably the best airport in the country.
- [15:25]
Christine Raffini
And that plan has an eight year timeline, as you mentioned. It is United. If you are a United frequent flyer, as my, some of my friends are, you got their lives going out to Dulles rather than flying out of the much closer Reagan, which is closer downtown D.C. but 70% of the flights out of Dulles are United Airlines. Can they get this done in 8 years and is it worth it to them? What do they have to gain? Because people are already held hostage to the points that they are accruing. They're going to go out there regardless.
- [15:52]
Kristen Capps
I mean, just to put it in context, it's difficult to imagine any kind of airport upgrade taking place on a timescale that quickly. And this is like many, many upgrades happening all at once. It's a $22 billion plan that could be broken down into five or six multibillion dollar plans that involve the construction of new concourses, the expansion of an underground air train to unite them, and unfortunately for those fans who might be out there, the shelving of the quirky people movers.
- [16:28]
David Gura
You mentioned the price. $22 billion. I'm going to go out on a limb and guess that United will not be ponying up the entire amount of money there. Who would pay for this, this reconstruction, this reinvention of Dulles?
- [16:39]
Kristen Capps
Yeah. So to give you some context, $22 billion is a, about what Qatar paid for Doha. It is an incredible amount of money for an airline. And Qatar, you know, is able to do that because they make airports a big national priority in the Middle east and in Southeast Asia, in the United States, it's a little bit different. This is not going to be directly government funded. This is not going to be paid directly by United. It's going to be paid by passengers. And based on the estimates that we've seen from the reporting on this, that could be $100 extra for every ticket just to pay the debt on this expansion.
- [17:19]
Christine Raffini
Wow. That's crazy. All right, before we let you go, last time you and I hung out in Washington, we did a little tour of some of the monuments that have had facelifts at the behest of the
- [17:27]
David Gura
President or might, or might get them
- [17:29]
Christine Raffini
or the President's name put on them. And I know you have spent some time at the, the Lincoln Memorial Reflecting Pool. What is the update there? Where are we with this the vibes
- [17:40]
Kristen Capps
are not great in Washington. It looks like a site of a natural disaster, really. Not just because the pool is green and also a little bit blue with things floating in it, whether it's algae or paint slabs, but also because there's fencing all around. Now, you can't get anywhere close. And if you try to, as I did earlier today, you will get chewed away by National Guard. The national guard presence in D.C. is really astronomical. It's about doubled to I think, 4800 soldiers. So it's some kind of event for
- [18:17]
David Gura
250 here in D.C. some kind of event indeed. Look, we go to you for insight into architecture and urban planning. Talk a bit just about the unique challenges of these reflecting pools. This is not the first time we should say that there's been a giant algae bloom in these waters on the
- [18:32]
Christine Raffini
national tilting of windmills or hoovering reflecting pools seem to be the same kind of utility. Expert.
- [18:38]
David Gura
What, what, what are the inherent problems with the plan as it was implemented here to build these reflecting pools on the National Mall?
- [18:48]
Kristen Capps
Well, not to put too fine a point on it, but it's really geese, you know, Canadian geese, the ducks you're blaming. Yes, yes, I'm sorry to say, but, but the geese have really grown a lot in Washington, D.C. and it's made the reflecting pool a little bit more problematic for maintenance. But in general, when we're talking about maintenance of these unique monuments, there are very large teams of people that make sure that these things are done according to a series of really byzantine laws and historic preservation codes. And there are federal oversight bodies. And the Trump administration is not going through that process, to put it mildly. They are calling contractors and starting the work and then asking the questions later.
- [19:35]
Christine Raffini
Is there any long term concern. We've only got a couple of seconds left. That a lot of these things that have been quote, unquote refurbished are going to have to be fixed again in a more measured way, in a more historically accurate way, in a more lasting way, all over again.
- [19:52]
Kristen Capps
I think that, you know, eventually they can get the reflecting pool right. They're going to drain it after the 4th of July and start over. The bigger question, of course, is the White House east wing and what the ballroom is going to look like and whether that's ever going to get finished.
- [20:06]
David Gura
And if the claw remains clause still there, if I'm not mistaken, the giant UFC arena still there.
- [20:13]
Kristen Capps
It's been taken down and now it looks like a vast scorched hole in the South Lawn.
- [20:18]
Lisa Mateo
Excellent.
- [20:19]
Christine Raffini
You and I will have to go get kicked out of there next because you and I got pushed off the Kennedy center grounds. You've done the reflecting pool. We'll add a third one to our list.
- [20:26]
Kristen Capps
Kristen Capps I'm sure we can make it happen.
- [20:28]
David Gura
Correspondent covering urban planning, architecture, scorched holes in the White House lawn, algae reflecting pools, airports. Always good to speak to you, Kristen.
- [20:39]
Christine Raffini
Stay with us for more on Bloomberg this weekend, right up after this.
- [20:45]
Sponsor/Commercial Announcer
Support for the show comes from public.com if you're actively involved in your portfolio, you probably catch yourself repeating the same actions. Buying the dip, manually sweeping idle cash, putting on a hedge on public. You can now create AI agents that handle all these tasks on your behalf. Just describe what you want to do in plain English like if the Vix hits 25, buy a put option on the S&P 500 or if my cash balance goes above $20,000, move the excess into my direct index. You approve of the workflow and your agent handles the risk, monitoring the market, watching for your conditions and executing your strategies exactly as defined. An investing platform driven by your intent, not just your clicks. You can also get full read and write access to your account via the public API. Go to public.com market and fund your account in five minutes or less. That's public.com market paid for by Public
- [21:41]
Greg Storr
Investing Brokerage Services by Open to the Public Investing Inc. Member FINRA and SIPC Advisory Services by Public Advisors LLC SEC registered advisor complete disclosures available@public.com disclosures when you own your
- [21:55]
Chase Sapphire Reserve Business Card Announcer
own business, you own every decision. Now own the card that rewards you for it. The Chase Sapphire Reserve for Business Card brings the best Sapphire Reserve benefits to business owners who expect hard working rewards. Designed to meet the needs of business owners at scale, this Pay in Full card elevates your travel experience and offers premium benefits and value toward business services that will take your business to the next level, fuel your business and maximize rewards with 8x points on all purchases through Chase Travel, 3x points on social media and search engine advertising, annual partnership credits and more. Make every journey more rewarding with a $300 annual travel credit and access to a network of airport lounges. Whether you're looking for pre flight productivity or time to rest and recharge, Chase Sapphire Reserve for Business it's the card that gives back all you put in. Learn more@chase.com reservebusiness chase for business make more of what's yours Accounts subject to credit approval restrictions and limitations apply. Cards are issued by JPMorgan Chase Bank NA member FDIC as a restaurant Genius.
- [23:02]
Christine Raffini
I know the experience starts long before the food hits the table. Genius by Global Payments makes it easy. Digital menus and price updates in real time. No reprints, no surprises. The kitchen and floor stay perfectly in sync, so every dish arrives exactly as it should. From game day crowds to memorable meals. Big league reliability for any business. That's genius.
- [23:39]
Lisa Mateo
Welcome back to Bloomberg this week. And I'm Lisa Mateo. Well, as the school year wraps up, a new group of graduating seniors, they are entering the next chapter of their lives. Teachers. They're hoping a personal finance course will give students the financial knowledge needed to succeed. Well, I visited a personal finance classroom at the Brooklyn Preparatory Academy to see how the students are benefiting.
- [23:58]
Diana Isearn
You're going to tell me by the end. First of all, what is Bitcoin? How would you describe it?
- [24:04]
Lisa Mateo
Personal finance is the hot new commodity in the classroom, with more schools making it a requirement. According to the Council for economic education, 39 states mandate high school students take a personal finance course to graduate four more than in 2024. Leslie Finnan, senior advocacy director for the CEE, says nearly 30 years ago, it wasn't even a thing.
- [24:26]
Christine Raffini
The first year we did the study in 1998, the only one state required students to take personal finance. This is reaching almost 3 million graduating seniors a year. Research shows that when students take personal finance in high school, they make better financial decisions later. They have higher credit scores, lower loan default rates. When they take out student loans, they take better student loans. They just altogether are better consumers, better citizens, and make better decisions.
- [24:51]
Diana Isearn
This is similar to the chart that I just showed you. Why do you think it was so low for so long?
- [24:58]
Sponsor/Commercial Announcer
Because it was new, didn't have any history.
- [25:03]
Lisa Mateo
This fall, all high school students in New York State must have some sort of exposure to personal finance in order to receive their diploma.
- [25:11]
Diana Isearn
It can be embedded in an economics class or a math class, or it could be electives, or it can be a standalone, depending on the school and how they want to structure it.
- [25:20]
Lisa Mateo
Diana Isearn is assistant principal and financial literacy educator at Brooklyn Preparatory High School. She's been teaching her Money Moves class for six years, covering everything from investing in real estate to taxes and budgeting for our students.
- [25:35]
Diana Isearn
I talk to them about credit and credit scores, credit cards, credit reports, all that kind of stuff. Because if we can get to them prior to making big decisions in their life that are going to impact them for 20, 30, 40 years and possibly not get them into debt and so that they have to kind of climb out of holes, then we need to do that earlier and just make them aware, make them informed about those things as soon as we can. I want you to look up today's price of one single bitcoin, and I want you to find out how much those pizzas would cost today. So I show my gas bill, my electric bill, my. My food, my grocery list, the whole thing. They're like, whoa. It's like, you spend $500 a month on grocery. And I'm like, yeah, that's with coupons, you know? And so what I do is I have an assignment where they go home and they fill out an itemized list of what their family spends on these things, if their family, of course, is comfortable sharing that. And most are. Most are overjoyed to share that because they're like, okay, I need this kid to know that we spend $300 on Con Ed, on electricity. And that's why I tell him to turn off the lights in the room when he leaves. I have parents telling me, asking me about opening a Vanguard account, Fidelity or E Trade, you know, whatever the companies are. And they want to come. I've had parents come in, I've sat down with them and show them in English and in Spanish. So it's a cycle of a ripple effect that continues to expand.
- [26:57]
Emily Sweeney
The paper that you guys have, can
- [26:59]
Christine Raffini
you please flip it over to the other side?
- [27:01]
Lisa Mateo
Leah Mejia is a senior at Brooklyn Prep and a curriculum leader for the class.
- [27:06]
Christine Raffini
I even told some of my family members, like, how to start investing and what to do. They're just always coming up to me, like, leah, how do you do this? How do you start? So, yeah, it's just mainly, like, interest on, like, how to grow my money and not be so dependent on my family and how to be independent by myself.
- [27:27]
Lisa Mateo
Bentley Rivera is a sophomore.
- [27:29]
Christine Raffini
My favorite part of the class is learning about the real estate because I
- [27:32]
Diana Isearn
feel like it's important to know how
- [27:34]
Christine Raffini
to own a home, how to rent a home.
- [27:36]
Diana Isearn
And that was just a really fun
- [27:38]
Christine Raffini
part of the class.
- [27:39]
Lisa Mateo
What do you want to do after high school, after you graduate? And has this class changed what you're thinking about?
- [27:45]
Christine Raffini
My major is going to be in finance, so this class has prepared me, like, on the basics at least, so
- [27:54]
Emily Sweeney
I know what I'm getting into.
- [27:56]
Diana Isearn
This class.
- [27:56]
Christine Raffini
It made me more interested in finance,
- [27:59]
Diana Isearn
so I've been looking into other classes
- [28:01]
Christine Raffini
and stuff for it.
- [28:02]
Lisa Mateo
But while personal finance takes a front row seat, economics has fallen off. Only 22 states now mandate economics for graduation, down from 26 in 2024, yet still up from 13 when the study began in 1998.
- [28:18]
Christine Raffini
Personal finance is just so much more hands on. Visible economics is a more academic, theoretical thing. We think that they are both important and the gold standard would be a full year of economics and personal finance. So a student understands the market and how everything works and also their place in it. We'd rather they do both, but it's hard to argue that personal finance is not important. Every meeting I have the only the first response is yeah, why don't we teach kids about personal finance so it just makes sense.
- [28:49]
Lisa Mateo
Stay with us for more on Bloomberg this weekend right after this.
- [29:05]
Christine Raffini
Welcome back to Bloomberg this weekend. I'm Christine Arfini with David Gura and Lisa Mateo. Okay, so South Africa is going to face Canada today in the World Cup's first knockout stage match in L. A. But one of the biggest stories of this North American tournament is the cultural influx in American cities, particularly in Boston.
- [29:23]
David Gura
From Scotts to Haitians, Boston has been a hotspot for memorable moments. We are joined now by Boston Globe Emily Sweeney. Emily, great to have you back with us once again. I was in the greater Boston area last week. I was in Cambridge and someone with whom I spoke said the thing to get are these fan bands. They were talking about going down to the common to the Garden. These are like bracelets. You can get them that have kind of site specific accoutrements. What's the flavor been like in Boston? The Scots have left but this is still.
- [29:50]
Christine Raffini
Talk to us about the accoutrement.
- [29:51]
David Gura
Emily obsessed city.
- [29:55]
Emily Sweeney
Well, I gotta say, you know, Boston really misses the Scots. It's, you know what I mean? It's, it's amazing to see there's still traffic cones on statues heads that are appearing. You know the Tottenhami started that tradition and I think that tradition with the traffic cones going on statues heads is going to continue. At least from what I've seen
- [30:14]
David Gura
that's tartan and not Taunton, the city in Massachusetts. I just want to be very clear about that. I feel like I have to. Yes. Okay.
- [30:21]
Christine Raffini
Don't, don't let him give you shade. We've got, for our video viewers we've got my favorite cone video which I requested from our producer is where the city of Boston seemed really down with this and let them use a cherry picker so that they could cone a statue that would have been otherwise out of reach. And this is like, I don't know, they do this in Scotland.
- [30:43]
David Gura
Why is it happening? Why is it happening?
- [30:45]
Christine Raffini
I don't know. Emily, do you know well, you know,
- [30:47]
Emily Sweeney
I mean, there was, like, estimated to be about 50,000 Scottish folks who visited Boston. And again, nobody was prepared for the traffic cone trick. Suddenly appearing on everybody from, like, you know, you know, Bobby Orr right in front of the Boston Garden. I got a photo of that. Somebody put a cone on his head. He looked great. Like diving after making his goal. Looks better than ever. But, yeah, no, I mean, the Scots really made an impact here. And, you know, a lot of other people that local fans like cheering on Haiti, Cape Verde, obviously making it to the knockout round is huge. People are going crazy about that.
- [31:24]
Christine Raffini
I'm so excited.
- [31:25]
Lisa Mateo
I gotta ask you, Emily. So you mentioned the Scots. Okay, so Boston, you think St. Patrick's Day, that's a big drinking day. Okay, but the Scots out drink this. I mean, did you party with these guys or what?
- [31:37]
Christine Raffini
How they literally drank Boston out of beer.
- [31:40]
Emily Sweeney
Well, you know, you couldn't walk out of the Globe newsroom. There were just kilts everywhere on the streets of Boston. Seriously, I've never seen so many kilts in my life. And, you know, the Scott ever, you know, everybody I spoke to from Scotland was just so friendly, so cool, so nice. And the bars, like, you know, there were lines out the door. I was walking to work in the morning, and there literally were lines, like, to get into the bars, you know, full of Scottish fans. But, you know, everything was really cool because as much as they drink, you know, it was very peaceful. No fighting or anything like that. Just a lot of good fun, a lot of good vibes. And like I said, all the Scottish people I talked to were so cool and so nice as well.
- [32:18]
David Gura
I understand your mayor is going to formalize this. Michelle Wu has formalized this kind of relationship between Bostonians and the Scots. Tell us a bit about that.
- [32:26]
Emily Sweeney
Yeah, so there was an announcement made about being like a sister city of sorts, like a formal partnership with the city of Glasgow. And I know personally, my friends who are now planning trips to Scotland to. To visit, like, you know, people that weren't even thinking about going on vacation there. So, you know, it was really cool. I think, you know, I witnessed history getting made, like, on the streets of Boston. I've never heard so much singing in my life on the streets of Boston. And now it's a little bit quieter now. Now the Scott, the Scots have left, you mentioned.
- [32:56]
Christine Raffini
I will say they did go to Miami and try the traffic cone trick. And the Miami Dade Police were not into it. It was. Was not allowed. You mentioned the Scots. You mentioned the Haitians, Cape Verde but there is another fan headed your way. This is this viral Twitter star, Freddie. He's been tweeting his adventures in America he's gotten. Everyone is following him. Just a joyous trip through our nation. What does Boston have in store? What do you expect with the German fans coming to town?
- [33:26]
Emily Sweeney
Yeah, well, you know, I wish I knew what Freddie looked like.
- [33:28]
Christine Raffini
You don't. We have pictures now, and he's got a little smiley faces on his friends, and he puts different soccer players in front of his face. Yeah, yeah.
- [33:36]
Emily Sweeney
Last I saw, he was in a gunkwit, which I got to say, hands down, is like my favorite beach in New England. He picked a good one. But, yeah, we're hoping Freddie comes down, and we're just hoping everybody has a good time, and that's what's been happening. I mean, I think Boston wasn't prepared for how much fun the World cup has been. And, you know, I think we're embracing it, so we're looking forward to it.
- [33:57]
Lisa Mateo
Emily, what do you think about Team usa? Do we have a chance? I mean, you seem to be the World cup know how. Tell us.
- [34:03]
Emily Sweeney
Yeah, well, you know, I like Cape Verde. Like, has my heart, I gotta say. I don't want to sound like a trader, but, you know, Team USA made it to the knockout round, too. I mean, I'm looking forward to watching them on Wednesday. I think, you know, it's gonna be interesting to see what happens next, you know, with the slate of teams that they're going to be facing. But making it to the knockout round in the World cup is huge. So for Team USA and for, like, a small country like Cape Verde. Oh, my God. And with Cape Verde, it being their first time ever, so I get, like, two teams I'm gonna be rooting for for sure very quickly here.
- [34:37]
David Gura
We're complaining a lot about traffic and all the transportation issues here in New York. It's been rough in New York. How's Boston been handling it? How's that the trek out to Foxborough been for folks?
- [34:45]
Emily Sweeney
You know, the first trips, you know, when I was talking to people who went out to Gillette Stadium, AKA Boston Stadium, were, you know, there were really long lines, you know, but I mean, those lines were there, you know, to make sure the flow of people, they wouldn't get, like, bottlenecked. But. But from what I've heard, like, it got. It got better as, like, the week went, as the games went on. So, you know, I think the first ones, people had to wait a long time. But, you know, other than that there weren't any major issues that I've heard of.
- [35:12]
Christine Raffini
All right, the Boston Globes one and only Emily Sweeney. You've gotten this new job since we saw you last. It's perfect fit. Thank you so much for joining us.
- [35:19]
Emily Sweeney
Thank you.
- [35:22]
David Gura
Stay with us for more on Bloomberg this weekend right after this.
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- [37:43]
Christine Raffini
From game day crowds to memorable meals, Genius by Global Payments keeps your kitchen and floor perfectly in sync. Real time menus, seamless Updates big league reliability for any business. That's genius. Welcome back to Bloomberg this weekend, or BT Dubs, as I like to call it. Btw, as David Gura likes to call it. I'm Christine Rafini. That's David Gura, that's Lisa Mateo. She's going to join us with some of the stories you might have missed this week. All right.
- [38:20]
Sponsor/Commercial Announcer
That's a lot.
- [38:21]
Lisa Mateo
All right, this one is going to bring back some memories for you guys back. And we'll take you back to the 90s.
- [38:25]
David Gura
1990s.
- [38:26]
Lisa Mateo
Yes, yes. Remember?
- [38:27]
Christine Raffini
No, the 1890s. 1890s.
- [38:30]
Lisa Mateo
Remember hacky sacks, right? They were the fun things.
- [38:33]
Christine Raffini
Okay, Definitely.
- [38:34]
Lisa Mateo
This is on Bloomberg, this on the terminal. Hacky sacks are cool again and somehow cost $23. So, you know, they're the little, you know, round little bags, right? You kick them around with your feet, your hands, and you try to do all these things and just bounce them and not let it hit the floor. See these guys here? They're doing it. They're doing the little hacky sack. I actually saw a lot of kids doing this. My daughter was playing softball and the boys baseball team was there, and they were doing this. So it's back. Because of social media, people have been posting it about it, and it's getting kids to start and buy them again. Now the stores are selling out of these things. They were about 5 to 15 bucks. Now they can go up as much as 23.
- [39:12]
David Gura
Inflationary environment.
- [39:13]
Lisa Mateo
On ebay, you can get it for like 65.
- [39:15]
Christine Raffini
Packy sack, also not a durable commodity.
- [39:18]
David Gura
Did you do this as a very young child in the 1990s?
- [39:21]
Emily Sweeney
I did.
- [39:22]
Christine Raffini
I did. No, but it stuck around for a while, especially I was in Colorado Springs. We were always like 10 years behind everybody. But, like the cool counterculture. Boys and I use counterculture very lightly. Were always hacky sacking in, like, the quad. And I was very cute.
- [39:36]
David Gura
Yeah, yeah.
- [39:38]
Christine Raffini
And this is not a bad trend, right? People are interacting.
- [39:40]
Lisa Mateo
They're going outside because these gen Alpha gens, like, they grew up with, like, iPads. So this is helping them get out and, you know, get some exercise and get off of their devices.
- [39:50]
David Gura
Except to learn how to do it on YouTube.
- [39:53]
Lisa Mateo
It's true.
- [39:54]
Christine Raffini
Eventually they're getting outside. I support it.
- [39:56]
David Gura
Interesting. I'll keep an eye out.
- [39:57]
Lisa Mateo
All right, this one is for you, Christina. Doggies. I love the doggies.
- [40:00]
Christine Raffini
Turning into a crazy dog. Lady Athletic.
- [40:02]
Lisa Mateo
Here we go. How USMNT's World cup campaign is being helped by puppies. Bud, Drew, Pop, and Bloom. Okay, so this is the US Men's soccer team, right? They get a visit from these three special little guests. So this is their way to kind of recoup. Like, they get the massages and they refuel. But this is part of their recovery mission. They have a marketing promotion. It's Purina and wax for walks. But more soccer teams are doing this because they say the dogs make them feel better. It brings a team together, you know, like, it's a little bit more team bonding experience.
- [40:34]
David Gura
I've noticed that when you bring your dog in, we all come together.
- [40:37]
Christine Raffini
But it's like, David, you'd be like, we're bonded more when Brutus is here.
- [40:40]
David Gura
Yes. No, it's, you know.
- [40:41]
Christine Raffini
No, he doesn't.
- [40:42]
David Gura
It's a thing to remark on and pet.
- [40:46]
Christine Raffini
You were asking me the other day because I said something about talking to somebody in the park. You said you talked to the dog owner in the park. You do. So the dog does kind of give you much, like, Hacky sack, something to kind of circle around and talk about.
- [40:55]
David Gura
Maybe you can combine both. Maybe Brutus would eat the hacky sack.
- [40:58]
Christine Raffini
Brutus would fetch it and run off
- [41:00]
Lisa Mateo
and not bring it back 100%.
- [41:01]
Christine Raffini
Yeah. Yeah.
- [41:02]
David Gura
You don't have a dog. I love it.
- [41:04]
Lisa Mateo
I don't know. But they say, like, studies show it can help with your heart rate. Like, it just. When you see a dog, it makes a lot of people, like, feel better. Like, when I see Brutus, I'm like, oh, come here, little one. You know, it's the cutest thing. It makes you.
- [41:15]
Christine Raffini
I don't get the similar reaction from David. Similar reaction, but it makes sense. Me very happy.
- [41:20]
David Gura
So thank you, Lisa.
- [41:22]
Lisa Mateo
Okay, now here's a question for you. When you're feeling a little under the weather, do you go and Google things? Do you go to ChatGPT? Do you go to WebMD? All the places. Okay. There's a new place that people are going to. Okay, so this in the New York Times, it says the doctor, the patient, and the podcaster. So a lot more people, they're going to their doctors, you know, with questions, because they've heard it on a podcast. So doctors are dealing with this now. You know, they've always had to deal with the, hey, I Googled this, and I think I should be taking this. That doctors deal with. But now they're hearing entire episodes. Yes, some doctors are okay with it. They think that, you know, people are embracing their. Taking their health in stride. Like, they're taking it advantage of proactive.
- [42:06]
David Gura
They want to know what's happening.
- [42:07]
Christine Raffini
I was losing my words.
- [42:08]
Lisa Mateo
Thank you. But other doctors are saying, you know what? You have to look at some of these guys, like, what are their credentials? Like, these podcasters, Are they doctors? Are they holistic practitioners?
- [42:19]
David Gura
That's another word. That's.
- [42:20]
Christine Raffini
That one has come up a lot in my life.
- [42:23]
Kristen Capps
Yeah.
- [42:23]
Lisa Mateo
So it's hard. It's back and forth. I mean, a lot of studies show that, you know, a lot of people, more people are getting them from these podcasters.
- [42:29]
David Gura
Interesting.
- [42:30]
Lisa Mateo
And they have millions and millions of followers, so more people are listening to them, and doctors are just getting a little flushed out at the same time.
- [42:37]
David Gura
I see that. I think my doctor is getting a
- [42:38]
Christine Raffini
little frustrated just with you in general. Yeah, that was a big issue.
- [42:41]
David Gura
Oh, yeah. Just with me. Very good. Well played. Point one point for you on that one. No, I think it's because, well, not podcast necessarily, but, like, people will come in thinking they know they've diagnosed themselves in advance of going to the appointment. And I think they're just saying, like, okay, like, we'll get through this.
- [42:55]
Christine Raffini
But I can't imagine. I can't imagine going through that many years of school to have someone come in and be like, hey, I saw this thing on my phone. I would. I would not.
- [43:03]
David Gura
I also just don't need to, like, foster my hypochondria by, like, listening to three hours on whatever agreement.
- [43:08]
Christine Raffini
Agree. Because so many of them are, like, amorphous and symptomatic.
- [43:10]
David Gura
I do have that, right?
- [43:11]
Christine Raffini
I'm tired today that I can have all the things I got up at 3am it's because of all the things. All right, Lisa, what else?
- [43:18]
Lisa Mateo
All right, last one I got. This one's on Bloomberg, too. It's about. Okay, us set to end brake pedal requirements for driverless vehicles.
- [43:25]
Emily Sweeney
Okay.
- [43:26]
Lisa Mateo
So, yeah, DOT is National Highway Traffic Safety Administration. They're looking into it. It could clear the way for things like Waymo Tesla to release more robo taxis. I mean, think of it like. Like Tesla Cyber Cab. Right. That one has to. Look, it's an electric car with no steering wheel or foot pedals. It's still, you know, testing out, but they just don't want the foot pedals. You know, a lot of these companies say, you know, why do you have
- [43:46]
David Gura
a pedal in a way, in case you need to, like, jump up there and do it?
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- [43:49]
David Gura
I guess that's the reason I kind of still want that. I kind of want to have to
- [43:53]
Christine Raffini
be able to, like, if I. To crawl over the seat and smash it with my hand.
- [43:56]
Lisa Mateo
You can't.
- [43:57]
Christine Raffini
They're spending all this money on the streets.
- [43:58]
David Gura
Have you ridden one of these?
- [43:59]
Christine Raffini
They can't pay for a foot pedal. I have not of you.
- [44:01]
David Gura
Absolutely not.
- [44:02]
Lisa Mateo
No, you. I've seen them. No. All over when I went to San Francisco. They're all over and people just in the backseat just relaxing.
- [44:07]
David Gura
Still wary of them.
- [44:08]
Christine Raffini
I can't.
- [44:09]
Lisa Mateo
I can't.
- [44:09]
Christine Raffini
Listen. I was stuck in a cab for an hour yesterday. I had the best conversation with my driver. We solved all the world's problems. I learned all about New York. I need that in my. I need that in my life.
- [44:19]
David Gura
Great New York story.
- [44:20]
Christine Raffini
Yeah.
- [44:20]
David Gura
Can't do that in a Waymo talked
- [44:21]
Christine Raffini
about Ghana, talked about the World Cup.
- [44:23]
David Gura
My word.
- [44:23]
Christine Raffini
Had a great time. Waymo can't offer that.
- [44:25]
David Gura
You should have talked about your stew from Uzbekistan.
- [44:29]
Christine Raffini
Well remembered. That's a deep cut for our lovely this weekend.
- [44:32]
David Gura
Deep cut. We're going to put the recipe out on Social.
- [44:36]
Christine Raffini
No waymos for us and no dog team building for David.
- [44:39]
David Gura
Thank you, Lisa.
- [44:39]
Christine Raffini
You thank you, Lisa. Thanks for joining us on today's Bloomberg this Weekend podcast. Don't forget to tune in live for the show every Saturday and Sunday morning starting at 7am Eastern.
- [44:50]
David Gura
We're on Bloomberg Television Radio and the Bloomberg Business app, bringing you unique takes and in depth interviews on news, politics, lifestyle and culture.
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