Chapter 1: What is the main topic discussed in this episode?
News when you want it with Bloomberg News Now. I'm Amy Morris. Multiple news outlets are now reporting that the federal immigration agents involved in the deadly shooting of Alex Pretty in Minneapolis have reportedly been placed on administrative leave. Lawmakers, including Republican Senator Rand Paul, called for those agents to be taken out of the field.
Chapter 2: What happened with ICE agents in Minneapolis?
President Trump has criticized Minneapolis Mayor Jacob Frye. after Fry said the city would not change its immigration policies. Trump posted on social media that Fry's statement is a serious violation of the law and that he is, quote, playing with fire.
A day after President Trump's comments about the dollar sent it tumbling, Treasury Secretary Scott Besant touted the longstanding strong dollar policy in the U.S., and that helped the greenback bounce back.
If we have sound policies, the money will flow in. And we are bringing down our trade deficits. So automatically, that should lead to more dollar strength over time.
The yen sank against the dollar after Secretary Besant told CNBC that the U.S. is absolutely not intervening in the market for Japan's currency. The Bloomberg Dollar Spot Index is three-tenths of a percent higher. The stock rally waned after the S&P touched the 7,000 mark and traders still waiting for the Fed decision. We check the markets for you all day long here at Bloomberg.
The S&P 500, little changed on the downside. NASDAQ, little changed on the upside. The Dow is flat. 10-year Treasury yield at 4.23%. The two-year yield at 3.58%. The Fed makes its first rate decision of 2026 today. Bloomberg's Michael McKee reporting the central bank is widely expected to keep rates on hold. And then we hear from Fed Chair Jay Powell.
Will Jay Powell talk about policy only or will he delve into the politics of his relationship with the president and the Fed's relationship with the Trump administration? What's the Fed's strategy here? Engage or... cool down the temperature.
Bloomberg's Mike McKee notes this will be Powell's first news conference under a Justice Department investigation. President Trump has a warning for Iran to make a nuclear deal with the U.S. or face military strikes. Trump says the U.S. fleet, led by the USS Abraham Lincoln aircraft carrier, is, quote, ready, willing and able to rapidly fulfill its mission with speed and violence if necessary.
Iran said it stands ready for dialogue based on mutual respect and interests, but also warned that if pushed, it will defend itself.
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Chapter 3: How did Treasury Secretary Scott Bessent address the strong dollar?
Secretary of State Marco Rubio says the Trump administration is prepared to use force to ensure Venezuela's acting president, Delce Rodriguez, cooperates with the U.S. Rubio says Rodriguez has committed to opening Venezuela's energy sector to U.S. companies and providing preferential access to oil production.
Rubio testified before our Senate committee on the Trump administration's military actions in Venezuela.
After this operation happened, look at the people who criticized it. China, Russia, Iran, Hamas, these were the people that were upset about this raid and what we did. And I can tell you that in many countries in the Western Hemisphere, there was great pleasure in the fact that Maduro was removed and that it didn't involve all that war and invasions.
Democrats have criticized the Trump administration's actions, with Senator Jeanne Shaheen saying that Rodriguez's cooperation appears tactical and temporary, and that the U.S. has traded one dictator for another. Amazon cutting about 16,000 corporate jobs as the e-commerce giant looks to cut bureaucracy in the AI race. Mandeep Singh is global head of tech research at Bloomberg Intelligence.
They have their own chips, but clearly they are trailing when it comes to the likes of Google TPUs, and that's where I feel the streamlining of operations is probably the first step, but they have to protect their cloud share because clearly there is more competition on the AI infrastructure.
Mandeep Singh with Bloomberg Intelligence. Starbucks sales topped expectations. Global sales at established locations rose 4% in the most recent quarter. Starbucks issued its first full-year outlook under CEO Brian Nicol, with sales from established locations seen growing at least 3% in fiscal 2026, and the company has identified $2 billion in cost reductions over the next couple of years.
Shares of Starbucks are more than 2% higher. Treasury and the White House today celebrated the upcoming launch of a program they view as a key milestone, Trump Accounts. A Trump account is a new savings tool where money is invested in the stock market on behalf of a child... with the child unable to access that money until they turn 18.
Parents can contribute up to $2,500 a year in pre-tax income to a Trump account. Employers, relatives and friends can also contribute. Yearly contributions are capped at $5,000.
Dozens of major employers have signed up to add the Trump account contributions to their employee benefit packages, including Uber, Schwab. Charter Communications and many, many others.
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