Trump Backs Off Greenland Tariffs, Lisa Cook Hearing, More
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Find us on Apple, Spotify, or anywhere you listen. News when you want it with Bloomberg News Now. I'm Doug Krisner. President Trump will refrain from imposing tariffs on goods from those European nations opposed to his effort to take possession of Greenland. Today in a post on Truth Social, Trump cited the framework of a future deal reached with NATO. And that post followed a meeting with NATO Secretary General Mark Rutte at the World Economic Forum in Davos. We get more from Bloomberg's Laura Davison.
What we can anticipate here is that two sides are talking. They are at least making positive sounds at each other. But have they really spelled out what this looks like? Have the lawyers on both sides started looking at this? Absolutely not. They're still in that early stages. But this did give Trump enough space to back off from those tariffs, back off from, you know, kind of the use of military force. We've seen that positive market reaction from this. And this is kind of how Trump likes to be like to deal in this and kind of being able to show that he gets support. something. And I think, you know, Mark Ruda at NATO has kind of figured out how to handle Trump in these situations.
That is Bloomberg's Laura Davison. Now, the New York Times is reporting the discussions on a framework included a compromise in which Denmark would give the U.S. sovereignty over a small pocket of land for the construction of military bases. President Trump's decision on a candidate to be the next Fed chair is near conclusion. The list includes finalists like BlackRock's Rick Reeder, NEC Director Kevin Hassett, Fed Governor Chris Waller, and former Fed Governor Kevin Warsh. Today, Treasury Secretary Scott Besson said the president would reach a decision next week. Trump talked about his process today with CNBC on the sidelines of the World Economic Forum in Davos.
I'd say we're down to three, but we're down to two. And I probably can tell you we're down to maybe one in my mind. But I will say this is very impressive. Yeah, he's been there for a while.
The betting markets have worse in the league.
What decision did Trump make regarding tariffs on Greenland?
Rick is very good. They're all good. You know, all three are good. All three would be, I think, good.
Trump went on to suggest that Jay Powell would not enjoy his tenure if he did stay on the Fed's Board of Governors. Now, Powell's term as chair expires in May. However, he could remain on the board until January 2028. The Supreme Court seems wary of President Trump's effort to fire Fed Governor Lisa Cook over unproven allegations of mortgage fraud. More from Bloomberg's Amy Morris in Washington.
Solicitor General John Sauer argues that Cook isn't fit to serve. The American people should not have their interest rates determined by someone who was, at best, grossly negligent in obtaining favorable interest rates for herself. But those allegations are unproven, and the justices seem to acknowledge that firing Cook could upend the Fed's independence. Justice Brent Kavanaugh expressed skepticism of there being no judicial review of the actions of the president.
very low bar for cause that the president alone determines, I mean, that would weaken if not shatter the independence of the Federal Reserve.
Fed Governor Cook released a statement saying that as long as she serves at the Federal Reserve, she will uphold the principle of political independence. In Washington, Amy Morris, Bloomberg Radio.
The House Oversight Committee has found Bill and Hillary Clinton in criminal contempt. The couple declined to appear for depositions regarding sex offender Jeffrey Epstein.
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