Name: Trump Demands Rate Cut After Jobs Report
Uploaded: 2026-09-04T23:12:14+00:00
Duration: 2874 s

Speakers

Mike McGlone — Senior Commodity Strategist, Bloomberg Intelligence

Donald Trump — President of the United States

Julia Fanzeres — Markets Reporter, Bloomberg

Larry Sabato — Founder and Director, University of Virginia Center for Politics

Greg Casar — U.S. Representative, Texas; Chair, Congressional Progressive Caucus

Cristina Aquino — Anchor, Bloomberg

Summary

The video covers President Trump's renewed pressure on the Federal Reserve to cut rates after a strong August jobs report, plus his executive order targeting beef prices. It also examines Republican midterm politics and mail-in voting legal fights, market reactions to the jobs data, and Mike McGlone's bearish commodity calls on crude, gasoline, diesel, natural gas, precious metals, and bitcoin. Later, Rep. Greg Casar discusses his proposed AI superintelligence ban and federal AI regulator.

August jobs report comes in well above estimates, prompting Trump to demand lower interest rates.
Trump signs an executive order targeting beef prices and pressures the Fed while threatening trade actions.
Larry Sabato argues the GOP midterm convention is unlikely to shift competitive House races and Democrats are favored.
Missouri redistricting and mail-in voting legal battles create election uncertainty.
Market recap: stocks edge lower and two-year Treasury yields rise after the strong jobs report.
Mike McGlone sees record crude, gasoline, and diesel prices as temporary and bearish.
McGlone also turns bearish on natural gas, gold, silver, platinum, palladium, and bitcoin.
Rep. Greg Casar outlines legislation to ban artificial superintelligence and create a federal AI regulator.

Ideas

Mike McGlone Senior Commodity Strategist, Bloomberg Intelligence 19:16

Record crude, gasoline, diesel prices temporary.

McGlone argues the record-high prices in crude oil, gasoline, and diesel are temporary. Gasoline typically falls in the second half of the year as fuel blends switch, the US surplus of crude oil and fuels is reaching a record, the Western Hemisphere is becoming the price maker, and these petroleum markets are highly correlated and rarely stay up long. He sees the bigger risk as prices falling.

Mike McGlone Senior Commodity Strategist, Bloomberg Intelligence 19:35

Natural gas collapse signals lower prices.

McGlone views natural gas as a key indicator for US heat and electricity costs, and notes the January natural gas futures price just fell to its lowest since Russia invaded Ukraine in 2022 and is down nearly 20% on the year. He says this points to lower energy prices and that natural gas led the way lower in 2023 and 2024.

Mike McGlone Senior Commodity Strategist, Bloomberg Intelligence 22:15

Gold too expensive; sell precious metals.

McGlone turns bearish on precious metals. He says gold is facing very high interest rates, is at its highest level versus the T-bond index in 40 years, and has become too expensive. He has selling inclinations in gold, silver, platinum, and palladium, and thinks gold may be stuck in a range for years if Treasury bonds are the guide.

Mike McGlone Senior Commodity Strategist, Bloomberg Intelligence 22:48

Bitcoin is stock puppet; expect lower.

McGlone calls bitcoin a 'stock puppet' that has shifted from a stud to a dud. He says bitcoin has only matched the S&P 500 on a performance basis since 2021, has unlimited supply, and that its glory days are over. He fully expects bitcoin to go lower, especially if the stock market does.

This Bloomberg Markets video, published September 04, 2026, features Mike McGlone discussing WTI, UGA, DIESEL, UNG, GLD, SILVER, PPLT, PALL, BTC. 4 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Mike McGlone · Tickers: WTI, UGA, DIESEL, UNG, GLD, SILVER, PPLT, PALL, BTC

Trump Demands Rate Cut After Jobs Report

Summary

Ideas

Up Next