Chapter 1: What is the main topic discussed in this episode?
News when you want it with Bloomberg News Now, I'm Amy Morris.
Chapter 2: What are the implications of Trump threatening to invoke the Insurrection Act?
President Trump has threatened to invoke the Insurrection Act and deploy troops to quell persistent protests against ICE officers in Minneapolis. Dean of the UC Berkeley School of Law, Erwin Chemerinsky, says it would be truly extraordinary to use the Insurrection Act and the military in these circumstances.
There is a strong tradition in the United States that we don't use the military for domestic law enforcement. No president has done it without a governor's request since 1965 when President Johnson sent troops into Selma, Alabama to protect civil rights demonstrators.
Homeland Security Secretary Kristi Noem says she doesn't think ICE has gone too far.
Our ICE agents are following the law and running. their operations according to training.
Trump has repeatedly threatened to invoke the Insurrection Act to deploy the military or federalize the National Guard for domestic law enforcement over the objections of state governors. U.S. forces in the Caribbean Sea have seized another sanctioned oil tanker the Trump administration says has ties to Venezuela. Homeland Security Secretary Kristi Noem says the motor tanker Veronica
was operating in defiance of President Trump's quarantine of sanctioned vessels in the Caribbean. This is the sixth tanker seized by U.S. forces. The U.S. is imposing new sanctions on Iranian officials accused of repressing protests against Iran's theocratic government. The Treasury Department targeted the Secretary of the Supreme Council for National Security,
for allegedly calling for violence against protesters. The sanctions also affect 18 people and companies involved in a shadow banking network linked to Iranian financial institutions. A judge ruled Equinor can resume building its wind project near New York. This is the second time this week a federal court has blocked the Trump administration from stopping offshore wind developments.
Ford CEO Jim Farley says there is urgent need to update the North American trade agreement critical to the region's automotive industry. Farley says the company needs to work through a long list of issues with Trump's administration, including revising the trade agreement and more relief from tariffs.
We've made progress on mitigating some of the tariffs, but we have more work to do. We have a high exposure to aluminum, for example. The EPA changes are really welcome, frankly.
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Chapter 3: How has the U.S. responded to oil tankers linked to Venezuela?
That includes House Financial Services Chairman French Hill.
It is, in my personal opinion, an overreaction to concerns about the construction at the Fed, and I don't agree with that approach.
House Financial Services Chair French Hill tells Bloomberg surveillance he's spoken with Powell about the subpoenas and is working to schedule his semi-annual monetary policy testimony on Capitol Hill. Chicago Fed President Austin Goolsbee says the central bank's main priority should be to tame inflation as the labor market shows signs of stabilizing.
Goolsbee says he still sees lower rates ahead. Federal prosecutors are charging 20 people, including 15 former college basketball players, in what they call a scheme to rig NCAA and Chinese basketball association games. Andrew Bailey is deputy director at the FBI.
Over the past two years, the FBI's Philadelphia field office has conducted a wide-ranging investigation into a point-shaving conspiracy involving at least 15 NCAA men's college basketball teams.
Dozens of schools were affected by the scheme, including Fordham, Buffalo, Georgetown, Kent State and DePaul. That's news when you want it with Bloomberg News Now. I'm Amy Morris and this is Bloomberg.
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