Chapter 1: What is the main topic discussed in this episode?
News when you want it with Bloomberg News Now. I'm Monica Ricks. President Trump raised new doubts today about one of his top Fed picks.
I actually want to keep you where you are if you want to know the truth.
Chapter 2: What concerns does President Trump have about his Fed pick Kevin Hassett?
Kevin Hassett is so good. 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 Treasury Secretary Scott Besson says he expects the president to make a decision soon.
We've run a process and it will be the president's decision in the next couple of days or weeks. I'd expected that we would here have a decision either before he leaves for Davos or when he returns.
Besant today on Fox Business. He says BlackRock's chief investment officer, Rick Reeder, met with the president yesterday. Fed governors Kevin Warsh and Christopher Waller are also said to be pretty high on Trump's shortlist. By the way, the president's also said to unveil a plan in Davos to let savers in 401k retirement plans use some of their money for down payments on new home purchases.
We're told mechanics are still being worked out, but a final plan is expected sometime next week. We check the markets for you all day long here at Bloomberg. And any momentum on Wall Street dwindled after Trump's Fed comments today. The Dow lost 83 points. The Nasdaq was down about 15. The S&P was down five points. The 10-year Treasury yield is at 4.2 percent.
The two-year yield at about 3.6 percent. Shares of Bayer also fell 1.4% today after the Supreme Court agreed to hear the company's appeal to get thousands of pending lawsuits tossed over its Roundup weed killer. People have claimed for years long-term exposure to glyphosate, the active ingredient in Roundup, causes cancer. But Bayer maintains the weed killer is safe.
The Trump administration has paused its efforts to seize student debt from borrowers' paychecks. The Education Department says it's part of an effort by the White House to make a concerted push around an affordability agenda, with policy proposals aimed at easing costs for Americans ahead of midterms.
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.
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.
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