Chapter 1: What is the main topic discussed in this episode?
News when you want it with Bloomberg News Now. I'm Nathan Hager.
And I'm Karen Moscow.
Karen, we begin this morning with President Trump's attacks on Federal Reserve Chairman Jerome Powell. The president is not letting up despite pushback from Republicans, Democrats, business leaders and central bankers around the world. Let's get the update this morning from Bloomberg's John Tucker. John, good morning.
Chapter 2: What did President Trump say about Federal Reserve Chairman Jerome Powell?
Good morning, Nathan. President Trump had this to say about Powell as he left the White House yesterday.
He's billions of dollars over budget, so he either is incompetent or he's crooked. I don't know what he is, but he certainly doesn't do a very good job.
And Trump doesn't seem too concerned with pushback from lawmakers like Republican Tom Tillis, who vowed to oppose any Trump nominees to the Fed after the central bank was subpoenaed.
Well, that's why Tom's not going to be a senator any longer, I guess, right? But I like Tom Tillis. He's a nice guy. But look, he's not going to be a senator any longer because of views like that.
Trump said he would announce his nomination to replace Powell within the next few weeks, despite the backlash. The president also dismissed Jamie Dimon's criticism over the Justice Department probe into the Fed. He says the CEO of JPMorgan Chase is wrong to suggest he's attacking Fed independence. This all comes as the blowback gets more intense.
Three former heads of the Federal Reserve and four former Treasury secretaries in both Republican and Democratic administrations issued a statement saying this type of investigation has, quote, no place in the United States and is more characteristic of emerging markets with weak institutions. In New York, I'm John Tucker, Bloomberg Radio.
All right, John, thank you. Well, President Trump also has Iran on his mind. In a speech in Detroit heard live on Bloomberg Radio, the president urged Iranians to continue protesting against Supreme Leader Ayatollah Ali Khamenei's regime.
I've canceled all meetings with the Iranian officials until the senseless killing of protesters stops. And all I say to them is help is on its way. You saw that I put tariffs on anybody doing business with Iran.
The president says he'll act accordingly once he gets a sense of how many demonstrators have been killed. Reuters is reporting some personnel at a U.S. airbase in Qatar have been told to leave by tonight. The U.S.-based human rights activist news agency reports more than 2,500 people have died. making it the deadliest protest wave in Iran in decades.
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Chapter 3: How is Trump responding to Jamie Dimon's criticism of the DOJ probe?
That's down about 6% from last year's total enrollment. Experts warn more attrition is likely in the coming months as consumers face premiums that are on average more than doubling. Consumers have until tomorrow to elect new Obamacare plans for the year.
Let's turn to the markets now. Bloomberg News has learned Netflix is working on revised terms for its Warner Brothers Discovery acquisition. Bloomberg's Chris Palmieri says the streamer is discussing an all-cash offer for Warner's studios and streaming businesses.
a component about $4 out of the $27.75 that was going to be in Netflix stock. Netflix stock has taken a beating since this whole takeover war began, lost about a quarter of its value. And Netflix sees this as an opportunity to really just sort of strengthen the terms because they're competing against an all-cash offer from Paramount.
Bloomberg's Chris Palmieri says Netflix's offer has also faced opposition from politicians along with Paramount Skydance.
Well, overnight, Nathan, Sachs Global Holdings filed for bankruptcy. The bankruptcy filing from Sachs, which traces its roots back more than 150 years, marks a dramatic fall for the luxury retailer that just a year ago embarked on a major turnaround plan involving acquiring Neiman Marcus.
And reiterating the breaking news this morning, Karen, Japanese Prime Minister Sanae Takeuchi has told her ruling party she will dissolve parliament for an election soon. The co-leader of the Japan Innovation Party, says Takeuchi, says she'll give more details on Monday.
Time now for the Bloomberg Sports Update, and we bring in John Stashower. John.
Thanks, Karen. A crazy NFL offseason coaching carousel with now nine teams looking for a new coach after Mike Tomlin, just 15 hours after the Steelers season ended with that playoff loss to Houston, resigned. He was in Pittsburgh for 19 years. Nolan Arenado traded by St.
Louis to Arizona, spent five seasons with the Cardinals after nine with Colorado, an eight-time All-Star, a 10-time Gold Glove winning third baseman. Good news from snowboarding. Chloe Klim, her shoulder injury will not prevent her from competing in the upcoming Olympics. She'll be going for a third straight gold medal. That's your Bloomberg Sports Update.
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