Chapter 1: What is the main topic discussed in this episode?
News when you want it with Bloomberg News Now, I'm Doug Krisner.
Chapter 2: What are the GOP's reactions to the Powell probe?
Key Republican lawmakers are speaking out against a grand jury investigation of Fed Chair Jay Powell. It was on Sunday night Powell said the Fed had been subpoenaed by the DOJ with threats of a criminal indictment. He went on to say the action was related to his congressional testimony in June on renovations of the Fed's headquarters.
He also said this should be seen in the broader context of the administration's threats and ongoing pressure. Immediately, Senator Tom Tillis, a key Republican on the Banking Committee, vowed to oppose any Trump nominees to the Fed until the matter is resolved.
I've said repeatedly I very seldom disagree with the president, but I've disagreed with bad advice he's been given and acting on. He has publicly said he wasn't aware of this.
Now, other Republican senators, including Lisa Murkowski and Dave McCormick, offered pushback on the investigation. And Senate Majority Leader John Thune said the allegations against Powell better be real and serious.
Chapter 3: How is the state of Minnesota challenging federal immigration enforcement?
Now, we are told that Trump allies are worried this could discourage Powell from leaving the Fed once his term as chair ends in May. You see, Powell could stay on as Fed governor until 2028. Here is Betsy Duke, former governor for the Fed.
Chapter 4: What lawsuit did Senator Mark Kelly file against the Pentagon?
is it's hard for me to see Jay Powell leaving the Fed board, leaving his seat unoccupied and subject to appointment to somebody that he may not have confidence in, particularly while this lawsuit is going on.
Former Fed Governor Betsy Duke. The state of Minnesota and the twin cities of Minneapolis and St. Paul are suing the federal government to stop an enforcement surge by Immigration and Customs Enforcement.
Chapter 5: How is President Trump proposing to lower credit card interest rates?
Now this comes after the shooting death of a Minneapolis woman by an ICE officer. Here is Minnesota Attorney General Keith Ellison.
We allege that the obvious targeting of Minnesota for our diversity, for our democracy, and our differences of opinion with the federal government is a violation of the Constitution and of federal law.
Minnesota Attorney General Keith Ellison. Arizona Democratic Senator Mark Kelly has filed a lawsuit against the Pentagon over attempts to punish him for calling on troops to resist unlawful orders. Kelly is a former Navy aviator, and he's aiming to block his censure by Defense Secretary Pete Hegseth.
Chapter 6: What are the implications of Google and Apple's AI partnership?
Here's Kelly.
Pete Hegseth wants even our longest serving military veterans to live with the constant threat that they could be deprived of their rank and retirement pay years or even decades after they leave the military just because he or another secretary of defense or a president doesn't like what they've said.
Arizona Democratic Senator Mark Kelly. President Trump is calling on credit card companies to cap interest rates at 10% for a year. Now, this move could potentially wipe out billions of dollars in profits for the banking industry. Tonight, we heard from Massachusetts Democratic Senator Elizabeth Warren.
Chapter 7: What should we expect from JPMorgan Chase's upcoming earnings report?
She told us she spoke to President Trump to discuss ways to lower costs for American families.
i just want to say it was all about costs about how we reduce costs for american families and i've had proposals on the table for a very long time donald trump has talked about proposals that would reduce costs but so far hadn't lifted a finger to deliver so for me it's Put up time.
Massachusetts Democratic Senator Elizabeth Warren speaking on Bloomberg's balance of power. In company news, Google has entered a multi-year deal with Apple to power the iPhone maker's artificial intelligence technology. More from Bloomberg's Charlie Pellett.
It includes the Siri voice assistant. Terms were not disclosed. Bloomberg reported late last year that the two companies were finalizing such a deal, with Apple planning to pay about a billion dollars a year.
In the statement, the company said that Apple will maintain its privacy standards by continuing to run its AI services on consumers' devices or via private cloud compute, a secure online system. The Google technology will help support a new version of Siri that's due this year. in New York. Charlie Pellett, Bloomberg Radio.
Tomorrow morning before the opening bell, we'll get fourth quarter earnings from the nation's largest bank by deposits, JPMorgan Chase. Bloomberg's Tom Busby has more on what to look for.
JPMorgan Chase. Trading and investment banking businesses will be in focus, with revenue from trading stocks and bonds expected to rise 13% from a year ago, helping shares of the bank up 35% in the past 12 months, easily topping the 16% gain in the S&P 500 Financials Index.
Bloomberg Consensus calls for adjusted revenue of $46.35 billion for the fourth quarter on adjusted earnings per share of $4.92. Tom Busby. Bloomberg Radio.
And that is news when you want it. With Bloomberg News Now, I'm Doug Crisner and this is Bloomberg.
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