'Framework' Greenland Deal, Trump Fed Chair Search, More
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News when you want it with Bloomberg News Now, I'm Doug Krisner. President Trump will refrain from imposing tariffs on goods from those European nations opposed to his effort to take possession of Greenland. Earlier today in a post on Truth Social, Trump cited a framework on a future deal reached with NATO. This followed a meeting with NATO Secretary General Mark Rutte at the World Economic Forum in Davos. Later in the day, Rutte explained the Greenland framework. On Fox News, Rutte said the talks with Trump did not include Danish control of Greenland.
That issue did not come up anymore in my conversations tonight, Mr. President. He very much focused on what do we need to do to make sure that that huge Arctic region, where change is taking place at the moment, where the Chinese and Russians are more and more active, how we can protect that. That was really the focus of our discussions.
That is NATO Secretary-General Mark Rutte speaking earlier on Fox News. President Trump's decision on a candidate to be the next Fed chair is near conclusion. The list includes finalists like BlackRock's Rick Reeder, NEC Director Kevin Hassett, Fed Governor Chris Waller, and former Fed Governor Kevin Warsh. Today, Treasury Secretary Scott Besson said the president would reach a decision next week. Trump talked about his process today with CNBC on the sidelines of the World Economic Forum in Davos.
I'd say we're down to three, but we're down to two. And I probably can tell you we're down to maybe one in my mind. But I will say this is very impressive. Yeah, he's been there because for a while the betting markets had wars in the league. Rick is very good. They're all good. You know, all three are good. All three would be, I think, good.
Trump went on to suggest that Jay Powell would not enjoy his tenure if he did stay on the Fed's Board of Governors. Now, Powell's term as chair expires in May. However, he could remain on the board until January 2028. The Supreme Court seems wary of President Trump's effort to fire Fed Governor Lisa Cook over unproven allegations of mortgage fraud. Today, the high court heard arguments and Trump's own appointees were among the skeptics. Justice Brett Kavanaugh said the president's position would weaken, if not shatter, the independence of the Fed. We got reaction from former Fed vice chair Lael Brainard.
Well, look, I think what Justice Kavanaugh got to in his questioning, which is if a governor can be fired without any hearing, without any due process, without any real establishment of for cause, it really fundamentally means that the American economy continues can be in for higher inflation, less credibility on the part of the central bank, because that is what central bank independence is so important.
That is former Fed Vice Chair Lael Brainard. Incidentally, the Supreme Court is set to issue a ruling in this case by July. The House Oversight Committee has found Bill and Hillary Clinton in criminal contempt. The couple declined to appear for depositions regarding sex offender Jeffrey Epstein. Here is Committee Chair James Comer reading the votes.
What is the significance of the Greenland deal discussed by Trump?
The ayes have it. Pursuant to this vote, the committee hereby favorably reports and adopts this report recommending that the House of Representatives find William J. Clinton in contempt of Congress for refusal to comply with the subpoena duly issued by this committee.
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