CPI Bolsters Fed Cut Bets, Trump Threatens to Send 2nd Carrier to Iran, More
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News when you want it with Bloomberg News Now, I'm Dan Schwartzman. Consumer prices rose just two-tenths of a percent in January, the lowest gain since July, while the core reading that leaves out food and energy came in where economists expected. Money markets priced in 63 basis points worth of Fed reductions in 2026, bolstering bets for as many as three rate cuts this year. President Trump, speaking to reporters outside the White House earlier, announced the possibility of a second aircraft carrier heading toward Iran.
Well, in case we don't make a deal, we'll need it. If we don't have a deal, we'll need it. If we have a deal, we could cut it short. It'll be leaving very soon. We have one out there that just arrived. If we need it, we have it ready. A very big force.
That's President Trump. Rocket and satellite maker SpaceX is considering a dual-class share structure in its planned IPO, which would give select shareholders stock with extra voting power, which would allow them to dominate decision-making. The move would also allow insiders such as founder Elon Musk to maintain control of the company, even with a minority stake. SpaceX is seeking to hold an IPO later this year in a deal that could raise as much as $50 billion to fund artificial intelligence data centers in space and a factory on the moon. Despite Republican Senator Tom Tillis holding firm in his vow to block any vote for Fed chair until the Justice Department's probe into the Fed's renovation of its headquarters is completed, Treasury Secretary Scott Besson said he expects a hearing on former Fed Governor Kevin Warsh's nomination to lead the central bank to still take place.
Tillis, speaking of Bloomberg TV at the Munich Security Conference, says he isn't going to allow a vote to happen.
I have no intention of allowing any Fed board nominee to move forward out of committee and to be confirmed until this matter is settled. Look, this is foundational to Fed independence, and I, for one, am going to stand on the side of certainty, and Fed independence is what delivers certainty in our markets.
That's Republican Senator Tom Tillis speaking to Bloomberg TV at the Munich Security Conference. Goldman Sachs' top lawyer Kathy Rumler is leaving her position on June 30th after a months-long saga over her previous association with Jeffrey Epstein. In documents released by the Department of Justice, it was revealed that Rumler had accepted tens of thousands of dollars in gifts from Epstein and had used affectionate nicknames in their interactions. Goldman Sachs CEO David Solomon continued to defend Rumler.
You know, we've worked very closely with Kathy over the last six years. The management teams worked very, very closely with her.
What recent economic indicators are influencing Fed cut bets?
We know her as a professional and we know her as a human being. And I think that's lost sometimes in some of the dialogue and some of the media reporting around all this. I'm disappointed that it got to this, but I respect your decision and we're moving on.
That's Goldman Sachs CEO David Solomon. Another big name goes down due to the release of the Epstein files, as DP World Chief Executive Officer Sultan Ahmed bin Sulaim has resigned. Bin Sulaim's relationship with Epstein was recently revealed, showing the two men exchanging intimate messages, contacts in both business and politics, as well as attempting to broker deals for one another. As many await a Supreme Court ruling on President Trump's signature tariffs, the court has scheduled February 20th as its next opinion day. A ruling against Trump would deliver his biggest legal defeat since beginning his second term. According to federal government data, the tariffs are currently costing importers more than $16 billion every month.
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