Trump Doubtful on Hassett Fed Pick, Holds Off on Iran Hit, More
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What is the main topic discussed in this episode?
News when you want it with Bloomberg News Now. I'm Monica Ricks. President Trump is raising new doubts about one of his top Fed picks.
Kevin Hassett is so good.
Why is Trump expressing doubt about Kevin Hassett as a Fed nominee?
I'm saying, wait a minute. If I move him, these Fed guys, certainly the one we have now, they don't talk much. I would lose you. It's a serious concern to me.
The president making that comment at a rural health forum this morning. But Dana Peterson is chief economist at the conference board, and she says CEOs are watching and worried about Trump's potential pick.
The path of interest rates is very important for the cost of capital, also for credit card interest rates, which is something the administration's also focused on. And markets really want certainty in terms of what the composition of the FOMC is going to look like so that they can determine whether or not we're going to see more interest rate cuts or a pause, an extended pause where interest rates are down.
Conference Board Chief Economist Dana Peterson on Bloomberg Intelligence. Traders have been hedging their bets on a possible rate cut later this month, but have predicted at least two cuts this year. We check the markets for you all day long here at Bloomberg and not much movement on Wall Street since Trump's Fed comments. The Dow, Nasdaq and S&P all up about a tenth of a percent right now. The 10-year Treasury yields at 4.2 percent. The two-year yields at about 3.6 percent. President Trump is defending his decision to hold off on attacking Iran after getting assurances that protest killings will stop there. He talked to reporters outside of the White House today about whether Israeli and Arab officials convinced him not to strike.
How are CEOs and economists reacting to uncertainty over the Fed pick and rate path?
Nobody convinced me. I convinced myself. You had yesterday scheduled over 800 hangings. They didn't hang anyone. They canceled the hangings. That had a big impact.
But fears of a wider protest crackdown are now building in Iran, with the country now under its longest Internet blackout on record. Golnar Modavali heads Bloomberg's Iran coverage.
What President Trump does next with regards to Iran is going to be critical. Everybody's keeping a sharp eye on that. And he's kept us very busy over the past year. few days and we're getting every day there seems to be fresh news, whether it comes to U.S. military deployments or whether it's a statement from Trump that's softer on Iran. It seems to change.
That's Bloomberg's Gholar Motivali covering Iran from London. So far, activists say about 3,500 people have been killed. Tens of thousands of Cubans are now protesting across from the U.S. Embassy in Havana today over the killing of 32 Cuban officers in Venezuela. They were part of President Nicolas Maduro's security detail and were killed in the U.S. 's raid there earlier this month. Cuba's foreign ministry has described the protest as a response to threats against its peace and sovereignty. President Trump made demands last week for Cuba to negotiate with him amid tightened sanctions and economic struggles. But Venezuelan opposition leader Maria Karina Machado says she's grateful to Trump. Venezuela is going to be free and that's going to be achieved with the support of the people of the United States and the president.
Machado speaking at the Heritage Foundation in Washington, D.C. today after meeting with Trump yesterday at the White House. She slammed Venezuela's interim president, Delcy Rodriguez, as a communist and main ally to Russia, China and Iran. President Trump set to unveil a plan for letting savers in 401k retirement plans use some of their money for down payments on new homes. We're told the mechanics are still being worked out, but officials say the president will put out a final plan in Davos next week. Meantime, Trump did lay out a plan for big tech companies to pay for their own AI power needs. Trump and several northeastern governors are now asking a major power grid operator to auction off 15-year electricity contracts to major tech firms as a way to tame surging utility bills for consumers.
We get more on that from Bloomberg's Mike Shepard.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:00–0:09
2
Why is Trump expressing doubt about Kevin Hassett as a Fed nominee?
0:09–1:33
3
How are CEOs and economists reacting to uncertainty over the Fed pick and rate path?
1:33–4:06
4
What was the market response to Trump’s Fed comments and current yield movements?
4:06–5:32
Speakers
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