ICE Shooting Political Anger, Dollar Drops, More
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What is the main topic discussed in this episode?
News when you want it with Bloomberg News Now. I'm Stephen Carroll.
And I'm Caroline Hepker.
Congressional Democrats are threatening a US government shutdown after federal immigration agents shot dead a second American citizen. On Saturday in Minnesota, ICE officers killed intensive care nurse Alex Pretti as they subdued him. Widely circulated videos showing the incident from multiple angles suggest that a handgun, which Preti had a permit to carry, may have been removed from him by an agent before other officers opened fire.
What incident sparked political anger regarding ICE and immigration?
Democratic Senator Amy Klobuchar of Minnesota spoke to ABC's This Week programme.
Somehow 50,000 peaceful protesters in 10 below weather, I was there with them marching, when they were able to march without any problems. And then the next day, a half a dozen ICE and border control agents couldn't handle a guy with a cell phone taking video of them and shot him. So I think it's pretty obvious what's going on here. And what needs to happen is they need to leave.
Senator Amy Klobuchar was speaking to ABC after Border Control Commander-at-Large Gregory Bovino said Alex Preti approached officers with a handgun and violently resisted attempts to disarm him. In a telephone interview with the Wall Street Journal on Sunday, President Trump declined to say whether the federal officer who had shot Preti had acted appropriately and said the administration was reviewing the incident.
Growing anger over the Trump administration's immigration crackdown now threatens to trigger a partial government shutdown this week. Senate Democratic leader Chuck Schumer says his party will vote against a sweeping funding package needed to keep the government running unless Republicans trip out funding for the Department of Homeland Security, which oversees ICE. Democratic Senator Adam Schiff of California spoke on NBC's Meet the Press.
Well, I'm not giving ICE or Border Patrol another dime, given how this agency, these agencies are operating. Democrats are not going to fund that. The government will shut down if Republicans insist that that be joined with other government funding. It will be a Republican decision.
Adam Schiff speaking there with the effects of any shutdown expected to be widespread, including possibly delaying the next Bureau of Labour Statistics report. And there are signs that some congressional Republicans are wavering. Speaking on Fox News, House Oversight Chairman James Comer suggested that President Trump should consider taking his immigration crackdown to another city.
The yen has extended gains against the dollar as traders start the week on alert for US and Japanese authorities intervening in the market. Coordinated currency intervention is rare, but has been fuelled by comments on Sunday from Japan's Prime Minister, Sanae Takeuchi, about addressing what she called speculative and highly abnormal movements. Traders reported on Friday that the New York Fed had contacted financial institutions to check on the yen's exchange rate, something that's seen as a precursor to intervention. The prospect of the US actually joining Japan on a foreign exchange intervention is just the latest in a series of blows to a currency which has now pushed the greenback to a four-month low.
The price of gold has surged past $5,000 an ounce for the first time. It extends a breakneck rally that has seen bullion more than double in value over the past two years. The latest gains come as pressure from the Trump administration on the Fed exists. There are also threats to annex Greenland and the prospect of military intervention in Venezuela have fuelled a flight away from sovereign bonds and currencies. And that uncertainty was underlined again this weekend after the US president threatened a 100% tariff on all Canadian goods if the country becomes what President Trump described as a drop-off port for Chinese exports to the US.
In the UK, allies of the Prime Minister have blocked Greater Manchester Mayor Andy Burnham from standing to become a Member of Parliament in an upcoming by-election.
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