Trump Cancels Iran Meetings, Dimon Talks Fed Independence, More
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What is the main topic discussed in this episode?
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News when you want it with Bloomberg News Now. I'm Nathan Hager. Help is on the way. That is what President Trump is telling Iranian protesters in a social media post as demonstrations continue in the Islamic Republic. The Oslo-based Iran Human Rights Group says at least 648 people have been killed in more than two weeks of unrest, though the group says that toll could be as high as 6,000. President Trump says the demonstrators should keep protesting. He says he's canceled all meetings with Iranian officials until the quote senseless killing of protesters stops. President Trump is also renewing his call for the Federal Reserve to cut interest rates after the latest read on inflation. Core consumer prices rose just two tenths of one percent in December.
That was less than economists expected. More from Bloomberg's Michael McKeon.
Bloomberg's Mike McKee reports investors are still pricing in almost no chance of a rate cut this month.
as Fed Chair Jay Powell continues to face pressure from the Justice Department. The grand jury subpoenas issued against the chairman and the central bank are now facing global pushback, as we hear from Bloomberg's Alistair Bull.
Investors may well heed comments by other central bankers and BIS. It could affect their long-term view on U.S. assets. That's obviously important. The bond market vigilante's do have a role to play here. But Senate Republicans can stop Trump from putting his nominee nominees on the Fed board. And that really sort of like blocks the Trump campaign to get more control over the central bank. So that's very serious pushback.
Bloomberg's Alistair Bull and the head of Wall Street's biggest bank is pushing back as well. JPMorgan Chase CEO Jamie Dimon says anything that chips away at Fed independence will raise inflation expectations and probably raise rates over time. Dimon spoke after JPMorgan kicked off big bank earning season with mostly positive results. Bloomberg's Dan Curtis has that.
Most measures beat estimates that included trading revenue because there's been so much volume in the markets. The company also topped estimates for managed net interest income, which is one of those key measures that Wall Street looks at.
That's Bloomberg's Dan Curtis reporting. And right now, JPMorgan Chase shares are lower by more than 3 percent. Today, President Trump will bring his economic message to Battleground, Michigan. Bloomberg's Tyler Kendall has a preview from Washington.
This is a president that's probably going to put more of a focus on his more populist messaging and that slew of policies that we've seen in recent days. Those proposals, including a cap on credit card interest rates, banning institutional investors from buying single-family homes, and then his post yesterday saying he's working to ensure big tech companies don't drive up electricity costs for consumers amid the AI boom.
That's Bloomberg's Tyler Kendall, who reports the president will visit a Ford F-150 factory and address the Detroit Economic Club. That speech is set for 2 p.m.
What recent actions has President Trump taken regarding Iran?
Wall Street time. You can hear it live on Bloomberg Radio or watch on Bloomberg Television or on the Bloomberg podcast page on YouTube. House Oversight Chairman James Comer says he is holding former President Bill Clinton in contempt of Congress.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:00–3:43
2
What recent actions has President Trump taken regarding Iran?
3:43–4:29
3
What is the current situation in Iran according to human rights groups?
4:29–5:54
4
How is President Trump addressing the Federal Reserve's interest rates?
5:54–7:23
Speakers
7 identifiedMore from Bloomberg News Now
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