Ed Kalecki

Former FEMA Director Deanne Criswell tells Bloomberg the first step now is to get people in the storm-threatened areas to prepare for the worst.

Former FEMA Director Deanne Criswell.

According to people familiar with the White House deliberations, Rick Reeder's Wall Street bona fides and openness to making changes at the Federal Reserve have bolstered his candidacy for the central bank's top job.

The BlackRock executive is seen as looking the part of a central banker and has also grabbed President Trump's attention with his myriad of ideas for overhauling the Fed.

Reeder, one of four contenders to be Trump's pick to lead the central bank, has elicited positive reaction from bond market participants as Trump administration officials have sought investor views on the shortlist of Fed chair candidates.

Intel shares plunged 17 percent after Chief Executive Officer Lipu Tan gave a lackluster forecast and warned that the chipmaker was struggling with manufacturing problems.

First quarter projections for revenue and earnings both fell well short of Wall Street estimates.

At a conference call with analysts where Tan said it would take time and resolve to turn around the company, sent the shares down further.

Production snags have hampered the comeback bid, a disappointment for investors who anticipated more of a boost from new products.

A New York judge has approved a state gerrymander that redrew the congressional district represented by the city's only Republican, Congresswoman Nicole Meliotakis.

She talked about it in a Bloomberg interview.

New York Republican Nicole Malliotakis.

Attorney General Pam Bondi says former Olympic snowboarder Ryan Wenning, who was on the FBI's most wanted list for allegedly running one of the world's largest cocaine networks, has been arrested.

Wenning, who competed for Canada in the 2002 Winter Olympics, was being sought for allegedly helping to orchestrate a billion-dollar drug enterprise with Mexico's Sinaloa cartel.

In November, the U.S.

placed a $15 million bounty on Wedding.

The Justice Department said Wedding's organization imported about 60 metric tons of cocaine a year into Los Angeles by semi-truck from Mexico, roughly the weight of 40 standard cars, before shipping it north to Canada.

On Wall Street, we're getting a fresh look at how consumers are feeling from the University of Michigan.

Bloomberg's Michael McKee has the university's final sentiment index for January.

And Bloomberg's Mike McKee says inflation expectations for the next year are down as well to 4%.