Bloomberg News Now
Rieder's Plans Seen as Boon for Fed Chair, Storm Cancels Flights, More
23 Jan 2026
Chapter 1: What is the main topic discussed in this episode?
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news when you want it. With Bloomberg News Now, I'm Amy Morris. Rick Rader's candidacy for the Federal Reserve's top job has been bolstered by his Wall Street experience and openness to making changes at the Fed. He is seen as looking the part of a central banker and has grabbed the president's attention with his ideas for overhauling the Fed.
President Trump says he is done interviewing candidates for Fed chair and that an announcement could come as soon as next week. Ryan Wedding's been arrested. The former Olympic snowboarder was among the FBI's most wanted fugitives. FBI Director Kash Patel.
This individual and his organization and the Sinaloa cartel poured narcotics into the streets of North America and killed too many of our youth and corrupted too many of our citizens.
And that ends today. Wedding is accused of running one of the world's largest cocaine networks and was sought for allegedly helping orchestrate a billion dollar drug enterprise with Mexico's Sinaloa cartel. Wedding competed for Canada in the 2002 Winter Olympics. He now faces charges related to drug trafficking and the killing of a federal witness.
At least 170 million people are on alert for a storm that's expected to bring a lot of winter weather, sleet, freezing rain, snow and ice. Bloomberg meteorologist Rob Carolin tells us ice is really the big concern, making travel hazardous and increasing the risk for power outages in sub-freezing temperatures.
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Chapter 2: What is Rick Rader's significance for the Federal Reserve chair position?
More on this with Bloomberg's Isabel Lee.
You know, Beijing is close to formally approving imports of components essential to running AI. That's according to people familiar with the matter. And this means Beijing will encourage companies to buy a certain amount of domestic chips as a conditional approval. So the government is obviously prioritizing the needs of major Chinese hyperscalers.
Bloomberg's Isabel Lee Nvidia shares nearly 2% higher. Intel shares are 18% lower now after the chipmaker CEO said gave a lackluster forecast and warned of continuing struggles with manufacturing issues. Bloomberg's Neil Campling with more.
Back in the day, Intel was the largest semiconductor company in the world. Today, NVIDIA, in market cap terms, is 17 times larger than Intel. And I think that sums it quite nicely as to where they are on the tech curve. And Intel are continuing to struggle with that technology footprint.
Bloomberg's Neil Campling. Wall Street ending a jittery week on a relatively quiet note with traders digesting the rally of the past two days in the run-up to the Federal Reserve decision and the start of the mega-cap earnings season. We check markets for you all day long here at Bloomberg. The S&P 500 is little changed on the downside. NASDAQ has gained three-tenths of a percent.
The Dow down seven-tenths of a percent. The 10-year Treasury yield at 4.25%. The two-year yield at 3.6%. Silver topped $100 an ounce for the first time, extending a rally built on surging demand for Haven assets. Silver now about 5% higher. On Wall Street, getting a fresh look now at how consumers feel.
From the University of Michigan, Bloomberg's Michael McKee has the university's final sentiment index for January.
We're a whole lot happier than we were yesterday or when the last time they took their survey. 56.4 up from 54. So a significant increase in sentiment. Current conditions rise to 55.4 from 52.4 and expectations to 57 from 55. So across the whole expectations curve, we see an improvement.
And Bloomberg's Mike McKee says inflation expectations for the next year are down as well to 4 percent, the lowest since last January. Children's programs in five states will still get their federal funds for now. Health and Human Services had frozen those funds, saying it had, quote, reason to believe that there was fraud in those states, California, Colorado, Illinois, Minnesota and New York.
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Chapter 3: What updates are there on the storm affecting travel and safety?
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