Dems Block Budget Bills, Trump to Name Fed Chair Next Week, More

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Bloomberg News Now 7 min 5 speakers 4 chapters transcribed

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What is the main topic discussed in this episode?

Amy Morris 0:00

The UK stands apart as a place to do business, not because of one advantage, but many working together. Over £10 trillion in capital, four of the world's top universities, a 10-year industrial strategy in action, its stability with dynamism, global reach with local depth. It all adds up to greater growth. Find out more at business.gov.uk slash growth. News when you want it. With Bloomberg News Now, I'm Amy Morris. With about 36 hours to go before the shutdown deadline, Senate Democrats blocked a spending package while lawmakers sought a deal with President Trump to rein in his immigration crackdown. Senate Minority Leader Chuck Schumer has insisted Republicans agree to remove long-term Homeland Security funding from a massive spending bill to keep the government open past Friday.

Unknown 0:52

Americans do not support ICE terrorizing our streets. If Republicans refuse to work with us to rein in ICE and to end the violence, they're telling the American people they're choosing to protect ICE over choosing to protect people's safety.

Amy Morris 1:06

Senate Majority Whip John Barrasso says they will keep working.

Unknown 1:10

Republicans are going to keep working with Democrats to keep the government open. This nation deserves safety and security, not another government shutdown.

Amy Morris 1:20

The deadline for a deal is Friday night. President Trump's border czar, Tom Holman, says the administration will draw down the number of immigration enforcement officers in Minnesota after cooperation from state officials. The priority is to turn over more immigrants from the state's prisons and jails.

Unknown 1:37

So if we get these agreements in place, that means less agents on the street. More agents in the jail means less agents in the street.

Amy Morris 1:46

California Governor Gavin Newsom says it all started in California about a year ago and that Americans shouldn't stand for it.

Unknown 1:53

You want your republic, you want to save this democracy, you want to enjoy the 250th anniversary, maybe make the 251st anniversary of the historic project of our founding fathers. It's not an option.

Amy Morris 2:04

California Governor Newsom speaking to Bloomberg's Brad Stone at a newsmaker event in San Francisco. And Republican Senator Susan Collins of Maine says immigration officials have ceased their enhanced operations in the state. Collins' announcement comes more than a week after immigration officers began their operation in Maine called Catch of the Day. ICE says more than 200 people have been arrested since that operation began. President Trump says he'll announce his nominee to chair the Federal Reserve next week. He reiterated his expectation that the new Fed chair will lower interest rates.

Donald Trump 2:36

It's not cutting. It's not saying we have to get rid of jobs. It's just like literally so easy to do. But we have a guy that doesn't want to do it because I think he's politically biased.

Amy Morris 2:46

Fed Chair Jay Powell's term expires in May, but he could stay on at the Fed through 2028.

What recent budget issues are Senate Democrats facing?

Amy Morris 2:51

The Fed did decide to hold rates steady during the meeting this week. President Trump announced during a cabinet meeting that Venezuelan airspace is about to reopen.

Donald Trump 3:00

I've instructed Sean Duffy and everybody else concerned, including the military, that if you would, by the end of today, I'd like you to add up the Airspace over Venezuela. Planes can go to Venezuela opened up. OK. Yes. Thank you very much.

Amy Morris 3:15

President Trump says he's had what he calls a very productive telephone conversation with Mexico's president, Claudia Scheinbaum. President Trump says they'll talk more soon and will set up meetings with Scheinbaum in both the U.S. and Mexico. The president posted on social media that most of their conversation focused on the border, drug trafficking and trade. Russian attacks have killed six people in central and southern Ukraine. The attacks come as Ukraine grapples with its toughest winter since the start of the war, with Russian strikes cutting heating and power to millions as temperatures linger well below freezing. President Trump says he's asked Russia to temporarily stand down.

Donald Trump 3:53

And because of the cold, extreme cold, they have the same that we do.