Monica Ricks

Fed Governor Michael Barr is warning of the risks of looser bank rules on Wall Street.

Bloomberg's Ed Kalecki has that story.

After Friday's big Wall Street sell-off, reports on housing and consumer sentiment could help get the market back on track this week.

Wednesday will also get what Bloomberg economists think could be the highest measure of inflation this year, 4.1 percent year-over-year due to a spike in gas prices.

And New York Knicks fans are being asked to arrive early for Game 3 tomorrow as Madison Square Garden steps up security for President Trump's visit.

Secret Service will be implementing TSA-style screening procedures with a strict no-bag policy.

It'll be the first time a sitting president's ever attended an NBA Finals game.

And that's news when you want it with Bloomberg News Now.

I'm Monica Ricks.

And this is Bloomberg.

News when you want it with Bloomberg News Now.

I'm Monica Ricks.

U.S.

and Iranian forces continue to trade fresh attacks as negotiations continue on a potential peace deal.

Central Command posted on social media this morning saying it shot down two Iranian drones that threatened international maritime traffic in the Strait of Hormuz.

There were no reports of damage, but this follows drone and missile attacks on Bahrain and Kuwait on Friday.

CENTCOM confirms those were intercepted too.

Meantime, the Trump administration plans to use Iranian assets to help rebuild and repair any future damage caused by Iran in the Gulf.

And that could include frozen Iranian assets as well as ships the U.S.

has seized.