Partial Govt Shutdown Hits DHS, TSA, Iran Nuclear Talks, More

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What are the impacts of the government shutdown on TSA and DHS?

Unknown 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.
Monica Ricks 0:29
News when you want it with Bloomberg News Now. I'm Monica Ricks.

What is the current status of Iran's nuclear talks?

Monica Ricks 0:33
TSA agents are working without pay at U.S. airports again due to another government shutdown. This one affects the Department of Homeland Security, which includes TSA, as Congress works on a funding plan that could include ICE reforms. Eric Rosen's known as the points guy. There aren't a ton of disruptions or cancellations. Most of those seem to be weather related.

How are recent protests in Iran affecting negotiations?

Monica Ricks 0:52
Parts of the tri-state area could get a couple inches of snow later tonight into Monday. But overall, we may not see mass flight cancellations like the ones we saw last fall because air traffic controllers are still getting paid. The Swiss government confirms the U.S. and Iran will hold a second round of talks over Tehran's nuclear program this week. President Trump has repeatedly threatened to strike Iran if they can't reach a deal, but Iranian officials say they're open to a compromise. The talks follow deadly anti-government protests in Iran where thousands are still being arrested for participating. Doctors Without Borders says it suspended some operations at one of Gaza's largest functioning hospitals after staff members say they witnessed masked men with weapons around the facility.
Monica Ricks 1:36
The aid group says it poses a serious security threat to teams and patients.

What are the financial implications of the Trump administration's deportation policy?

Monica Ricks 1:41
Israel has struck hospitals on repeated occasions, accusing Hamas of operating in and around them. Here at home, a new report shows the Trump administration's policy of deporting migrants to third-party countries has come with a hefty price tag. Bloomberg's Nathan Hager reports from Washington.
Nathan Hager 1:57
The report comes from Democrats on the Senate Foreign Relations Committee. It finds the administration spent more than $40 million to send roughly 300 migrants to countries they had no connection to. That's an average $133.3 thousand per deportee. The report says the bulk of the funds went directly to five foreign governments, Equatorial Guinea, Rwanda, El Salvador, Palau, and Eswatini.

How is inflation affecting the U.S. economy and Fed rate cuts?

Nathan Hager 2:20
It says the State Department did not use outside auditors to track how the money is spent. In Washington, I'm Nathan Hager, Bloomberg Radio.
Monica Ricks 2:27
The U.S. Consumer Price Index rose this week at the slowest annual pace since May. And with inflation easing a bit now, traders are boosting their bets that the Fed will make three rate cuts this year. Tiffany Wilding is an economist at PIMCO.
Tiffany Wilding 2:40
We're looking at the midpoint of the long run neutral estimate, which is right around three percent. You know, they're at three and a half now.

What challenges is Coinbase facing in the current crypto market?

Tiffany Wilding 2:47
So that implies two more cuts. You know, I think getting another one in would be the result of more disinflationary pressure potentially target below target inflation or the unemployment rate moving up.
Monica Ricks 2:59
PIMCO's Tiffany Wilding on Bloomberg surveillance. The unemployment rate did drop a bit this week to 4.3%, with employers adding 130,000 jobs in January. The data suggests the job market continues to stabilize. Crypto's not having a good year. Bloomberg's Charlie Pellett reports Coinbase revenue tanked this week.
Mark Palmer 3:18
Revenue in the fourth quarter tumbled a more than estimated 20% to $1.8 billion. Companies swung to a net loss of $667 million. Mark Palmer is senior equity researcher at The Benchmark Company.

What controversies arose during the Milano Olympics curling events?

Unknown 3:31
As much as Coinbase's stock price is highly correlated with the prices of crypto, the underlying value of its business really is not.
Mark Palmer 3:40
The results come as Bitcoin has fallen nearly 50% from an October high, a retreat that has left many retail traders sitting on the sidelines. Charlie Pellett, Bloomberg Radio.
Monica Ricks 3:50
Apple says Siri's long-planned upgrade may have to wait another year before its debut. The tech giant's also considering a delay of several other highly anticipated functions, including a new operating system.

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