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Chapter 1: What is the main topic discussed in this episode?
The UK stands apart as a place to do business, not because of one advantage, but many working together. Over Ā£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.
News when you want it with Bloomberg News Now, I'm Doug Krisner.
Chapter 2: What recent developments have occurred regarding the U.S. government shutdown?
The Senate passed a spending package last Friday to avert a long U.S. government shutdown. Now the White House and Democrats are continuing to negotiate on placing new limits on immigration raids. Right now, the government is in a partial shutdown. House lawmakers will be returning to Washington on Monday. Here is House Speaker Mike Johnson on NBC's Meet the Press.
I tip my hat to everybody, appropriators in both parties who got this together. After the Senate acted over the weekend, we will now have 11 of 12 separate appropriations bills approved by both chambers. Because they modified our package, they've sent it over a little differently, which means we've got to address the bills again.
So they're going to separate the Department of Homeland Security bill. Our intention is by Tuesday to fund all agencies of the federal government except for that one, and then we'll have two weeks of good faith negotiations to figure it out.
House Speaker Mike Johnson speaking to NBC's Meet the Press. Homeland Security Secretary Kristi Noem has undermined her support as she fights to keep her job, and some members of Congress are frustrated by her rare appearances for hearings on Capitol Hill. Bloomberg's Amy Morris has more from Washington.
Republican Senator Tom Tillis blamed Homeland Security Secretary Kristi Noem for decisions that he said are tarnishing DHS's and ICE's reputation. But it's not just the fallout from Minneapolis. Noem's policy requiring her personal sign-off on expenses exceeding $100,000 has dramatically slowed recovery after hurricanes and floods, and some lawmakers feel like she's stiff-armed Congress.
All of this has raised questions about Noem's long-term job security, with some senators calling for her job, others expressing frustration with her interactions with Congress. In Washington, Amy Morris, Bloomberg Radio.
The Department of Justice has released another three million pages of material related to its probe of Jeffrey Epstein. Now, this release includes a draft indictment of Epstein, as well as financial and travel records, along with email correspondence. Now, the DOJ says there are some redactions in the latest release, such as identifiable information on victims.
Deputy Attorney General Todd Blanch signaled that no new charges will be brought in the Epstein investigation. Here is Blanch speaking on CNN's State of the Union.
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Chapter 3: How is House Speaker Mike Johnson addressing the funding of federal agencies?
The victims want to be made whole, and so we want that. The Attorney General wants that more than anything, but that doesn't mean we can just create evidence or that we can just kind of come up with a case that isn't there.
Deputy Attorney General Todd Blanch speaking on CNN's State of the Union. In Ukraine, more than a dozen people were killed on Sunday when a Russian drone struck a bus transporting workers in central Ukraine. Officials say the strike hit civilian infrastructure, burning down a bus with people inside. Now, the attack happened as the U.S. tries to mediate peace talks between Moscow and Kyiv.
According to Ukrainian President Volodymyr Zelensky, another round of negotiations will be held this Wednesday and Thursday in Abu Dhabi. President Trump has nominated Kevin Warsh as the next chair of the Federal Reserve, and if confirmed by the Senate, he would succeed current chair Jay Powell, whose term as chair ends in May.
Fed Governor Stephen Myron says he is expecting Warsh to be effective in his leadership.
I think that Chairman-designate Warsh has a long and illustrious career in history as a very insightful thinker on monetary policy. I think he's a fantastic pick from the president. I think he's got enormous credibility. I think he's got enormous gravitas. I think he's got enormous respect from financial markets, from economists, from everyone. I think he's going to do just a knockout job.
That is Fed Governor Stephen Myron speaking earlier to Bloomberg. Meantime, White House economic advisor Kevin Hassett tells Fox News the Fed should focus on getting its balance sheet as lean as possible.
The Fed should focus on its job, which is financial stability and lower interest rates and low unemployment rate, low inflation. And it should try to basically do that the old fashioned way quietly.
NEC Director Kevin Hassett speaking on Fox News' Sunday briefing. It's another busy week of earnings, including results from two more of the MAG-7. We have a preview from Bloomberg's Charlie Pellett.
Alphabet reports Wednesday, Amazon Thursday. Scott Cronert is head of U.S. equity strategy at Citigroup Global Markets.
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Chapter 4: What challenges is Homeland Security Secretary Kristi Noem currently facing?
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. 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.