Johnson: Diplomacy's 'Way to Go' in Greenland, EU Reacts, More
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I'm Barry Ritholtz, inviting you to join me for the Masters in Business podcast. Every week, we bring you fascinating conversations with the people who shape markets, investing, and business. CEOs, fund managers, billionaires, Nobel laureates, traders, analysts, economists, everybody that affects what's going on in the market, whether you own stocks, bonds, real estate, commodities, crypto, you really need... to hear these conversations. Sometimes it's behaviorists like Dick Thaler or Bob Schiller. Sometimes it's fund managers like Peter Lynch, Bill Miller, Ray Dalio.
What is the significance of Greenland in U.S. diplomacy?
Sometimes it's authors, Michael Lewis, author of The Big Short and Moneyball. Regardless of the conversation, these are the folks that move markets each week. That's the Masters in Business podcast with me, Barry Ritholtz. Listen on Apple, Spotify or wherever you get your podcasts.
News when you want it with Bloomberg News. Now I'm Monica Ricks. House Speaker Mike Johnson says Greenland is important to the US, but he doesn't foresee military intervention despite President Trump's threats to take total control of the territory.
I think diplomatic channels is the way to go, and I think the president's appointment of an envoy recognizes that.
Speaker Johnson on the BBC. But European lawmakers have now called for a halt to a US-EU trade truce that Trump set last summer, as ambassadors meet today to discuss the bloc's next steps, including France's request to activate the European Union's anti-coercion instrument. It's designed to respond to coercive actions from third countries, that used trade measures to pressure policy choices of the EU or its members. Up until now, it's never been used. Whether Trump's tariffs take effect also depends on a pending ruling from the Supreme Court. And Wall Street is looking ahead to Tuesday to hear from those justices. Bloomberg's Nathan Hagers in Washington.
The high court has gone through two opinion days this year without ruling on President Trump's emergency tariffs. Investors will see whether the third day is the one. The justices have set this Tuesday as their next opinion day. As usual, the high court never says which cases it will decide on until the justices return to the bench. If a tariff ruling doesn't come this week, it could be a while. The Supreme Court scheduled for a month-long break starting after this Wednesday. In Washington, I'm Nathan Hager, Bloomberg Radio.
The Supreme Court's expected to hear oral arguments on Wednesday and decide whether the president has the authority to fire Fed Governor Lisa Cook for cause. The president accused Cook of alleged mortgage fraud last year, which she denies. Former Fed Chair Janet Yellen talked to Bloomberg about it, and she says a ruling in Trump's favor would be devastating.
This is just going too far because when a president weaponizes the Department of Justice and uses pretenses to go after enemies, you know, we're not living in a democracy anymore if that's allowed to happen.
Hear more from Janet Yellen on the Everybody's Business podcast. Trump's also tried to fire Fed Chair Jerome Powell for cause following repeated attacks for not lowering interest rates enough. BlackRock CEO Rick Reeder is on Trump's shortlist to be the next Fed chair, and his candidacy now seems to be gaining traction. Sources tell Bloomberg Reeder's interview with the president went well last week. Fed governors Kevin Warsh and Christopher Waller are also up for the job. President Trump's economic and geopolitical agenda hit the global stage this week. Here's Bloomberg's Andrew O'Day.
He is slated to address the World Economic Forum in Davos, Switzerland. Trump's National Economic Council Director Kevin Hassett says among items the president plans to announce at Davos will be a plan for letting savers in 401k retirement plans use some of their money for down payments on a home purchase. Andrew O'Day, Bloomberg Radio.
Violent clashes continue in Minneapolis amid pro ice demonstrations now happening in the city. There are only ones escalating.
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