Trump Meeting with Oil Execs, MN Calls for Fed Cooperation, 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. The U.S. and Venezuelan governments are meeting today in Caracas to explore the possibility of restoring diplomatic relations and reopening the U.S. embassy.
What diplomatic discussions are taking place between the U.S. and Venezuela?
A small team of U.S. diplomats and security officials from the Trump administration arrived in the country today. And it comes as a group of about 20 oil executives meet with President Trump this hour at the White House. They're discussing rebuilding Venezuela's energy sector. Interior Secretary Doug Burgum will be there.
The expectation today is to have a great conversation about the opportunity to continue President Trump's agenda, which his agenda, of course, has been always about the safety and security, national security of our country. That begins with you can't have national security without border security. You can't have national security without energy security.
Interior Secretary Doug Burgum on Bloomberg surveillance. A White House official says reps from big oil companies like Chevron and ExxonMobil will be at this meeting, along with a few other smaller players like Continental Resources and Hillcorp Energy. Meantime, the president's called off a second wave of attacks on Venezuela, citing improved cooperation from the country after some political prisoners were released. But U.S. forces did intercept another sanctioned oil tanker in the Caribbean today.
What is the significance of the meeting between Trump and oil executives?
It's the fifth tanker in the last few weeks. President Trump says he looks forward to meeting with Colombian President Gustavo Petro in Washington next month. The two leaders are set to meet the first week of February following threats from Trump of a potential U.S. attack in the country over drug trafficking. Petro said yesterday he hopes ongoing dialogue with Trump would, quote, stop a world war. Minneapolis officials say they are outraged state investigators still aren't giving them access to any evidence to look into Renee Good's death. Mayor Jacob Fry says he just wants this investigation to be fair.
This is not a time to hide from the facts. This is a time to embrace them, making sure that we're pushing for transparency every step of the way. The Department of Justice and this presidential administration has already come to a conclusion about those facts from the very beginning.
Good was shot and killed by an ICE agent earlier this week, and Homeland Security officials and the Trump administration both say this agent acted in self-defense. Eyewitness accounts, video from the incident, and assessments from Minnesota officials say otherwise. Traders are starting to walk back bets now that the Federal Reserve will cut interest rates later this month following the release of today's jobs report, which was weaker than expected. Here's Bloomberg's Michael McKee.
50,000 is the change in non-farm payrolls with a net revision to October and November of a negative 76,000. So over the three months, we're down by 26,000. Change in private payrolls, 37,000. Manufacturing payrolls, we're down 8,000. The private payrolls is only half of what was forecast.
Michael McKee there. The case for additional Fed interest rate cuts is now resting on how the labor market performs in the coming months. And some officials are worried that inflation remains above their target.
How is the U.S. addressing energy security in relation to Venezuela?
Artificial intelligence could also shift how jobs are created. BlackRock's chief investment officer of global fixed income, Rick Reeder, weighed in today.
This year, you're running at a number where we just saw 50,000, 39,000 was in health care. Point being, and part of why, you know, I think the interest rate tool doesn't really affect health care. It doesn't really affect education, which was another part of the job market. Meaning, I think we're just seeing a productivity revolution. I mean, you break down the numbers, you really look at it, it's pretty extraordinary. And I think the labor dynamic is quite, quite significant.
BlackRock's Rick Reeder on Bloomberg's open interest. Bond traders are still predicting we'll see two rate cuts overall in 2026.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:00–0:13
2
What diplomatic discussions are taking place between the U.S. and Venezuela?
0:13–1:14
3
What is the significance of the meeting between Trump and oil executives?
1:14–3:04
4
How is the U.S. addressing energy security in relation to Venezuela?
3:04–5:51
Speakers
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