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Chapter 1: What is the main topic discussed in this episode?
Bloomberg Daybreak is your best way to get informed first thing in the morning, right in your podcast feed. Hi, I'm Karen Moskow.
And I'm Nathan Hager. Each morning, we're up early putting together the latest episode of Bloomberg Daybreak U.S. Edition. It's your daily 15-minute podcast on the latest in global news, politics, and international relations.
Listen to the Bloomberg Daybreak U.S. edition podcast each morning for the stories that matter with the context you need.
Find us on Apple, Spotify, or anywhere you listen. News when you want it with Bloomberg News Now. I'm Nathan Hager.
And I'm Karen Moscow.
Karen, we begin with the latest on the tensions in Minneapolis. President Donald Trump says he is looking to de-escalate after the killings of two U.S. citizens by federal immigration enforcement agents. The president sent in his border czar, Tom Holman, to replace Greg Bovino, the Border Patrol commander who had been the face of the crackdown.
But President Trump says he's not letting up with the enforcement.
I don't think it's a pullback. It's a little bit of a change. Everybody in this room that has a business, you know, you make little changes. You know, Bovino is very good, but he's a pretty out there kind of a guy. And in some cases, that's good. Maybe it wasn't good here.
President Trump tells Fox News he's largely satisfied with how his team has carried out the operation while acknowledging it may have inflamed tensions. He says Tom Holman has been meeting with Minnesota's governor and the mayor of Minneapolis, and he hears it's going well.
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Chapter 2: What are the latest tensions in Minneapolis regarding immigration enforcement?
Two Republican senators, Lisa Murkowski and Tom Tillis, also say Noem should step down. Noem has come under criticism for saying the latest shooting victim in Minneapolis, Alex Preddy, brandished a weapon and committed an act of terrorism. Multiple videos show Predick holding a cell phone before federal agents tackled and shot him.
White House Deputy Chief of Staff Stephen Miller says Noem's initial statement was based on reports from Border Patrol agents on the ground. He says they may not have followed the administration's protocols in the lead-up to the shooting.
Nathan Apple, CEO Tim Cook, is weighing in on the fatal shooting of ICU nurse Alex Preddy. In a memo on Apple's employee website, Cook said he is heartbroken by the events and called for calm. Cook added that he discussed the matter with President Trump earlier this week.
He had come under fire from employees for attending a White House screening of a documentary on First Lady Melania Trump the evening of the shooting.
We turn now to the weather, Karen, because frigid temperatures are here to stay. And look out, another winter storm may be brewing. Let's get the latest from Bloomberg meteorologist Craig Allen. Not again, Craig.
Yeah, Nathan, we're watching that very closely. We're starting off with a bitter cold this morning and even colder as we go through the week, though. Right now, listening to us in Boston, it is 13 with a wind chill of minus 3. There are single-digit numbers just to the west along 90 up in Massachusetts. Right now, Central Park, 15 with a wind chill of 4. And down towards D.C.
at Washington National, it's 18. Dulles, 17, also with wind chills currently in the single digits. As for that storm, it's developing once again and definitely will form Off the mid-Atlantic coastline, the question we have right now is whether or not that comes up the coast like it did last weekend, or whether or not it'll get pushed just slightly enough out to sea.
Something we will watch right through the next several days, and we'll talk about it more coming up in just a little bit. Nathan and Karen?
All right, that's Bloomberg meteorologist Craig Allen. Thank you, Craig. We'll be checking back with you throughout the morning. We want to turn to the markets now, and President Trump weighing in on the weakness of the dollar. Bloomberg's John Tucker joins us with the very latest. John, good morning.
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Chapter 3: How is President Trump responding to the situation in Minneapolis?
I mean, the value of the dollar, look at the business we're doing.
We asked former Dallas Fed President Robert Kaplan about the assertion a weak dollar makes U.S. goods more attractive.
Yes, it is true a weaker dollar boosts exports. However, we have in the United States has 39 trillion of debt on its way to 40 trillion plus. And when you have that much debt, I think stability of the currency probably trumps
exports. President Trump seeming indifference to the dollar's drop is seen by some as another signal to sell the currency and accelerate the quiet quitting of assets like U.S. Treasuries. And this dollar debasement pushing gold to a record high. Dollar DXY down a tenth of a percent this morning. Gold at 53.12 an ounce. In New York, I'm John Tucker, Bloomberg Radio.
All right, John, thanks for all this. As the Federal Reserve gets ready to make its first rate decision of the year, that's coming up this afternoon. And after three consecutive cuts, the central bank is widely expected to leave rates unchanged. We get a preview from Bloomberg's Michael McKee.
Today's question for the Fed, will it be policy or politics? The central bankers won't be changing the benchmark lending rate, and there's no new dot plot and no new economic forecasts. For the markets, the issue is whether they get any kind of hints about when or if rates will be cut again.
But for Washington and Wall Street, the overriding question is what impact President Trump's threats might have had on the policy committee and whether they have convinced Jay Powell to stay on as governor when his term as Fed chair expires in May. Will Powell repeat his angry response to being subpoenaed by the Justice Department or will he seek to de-escalate?
Any suggestion Powell may stay on to handicap Trump's efforts to control the Fed will have an impact on the rate outlook.
Michael McKee, Bloomberg Radio. All right, Mike, thanks. Be sure to stay with Bloomberg for full coverage of the Fed decision on a special edition of Bloomberg Surveillance. It starts at 1.30 p.m. Wall Street time on Bloomberg Radio, Bloomberg Television, and the Bloomberg Podcast channel on YouTube.
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