Bloomberg News Now
Trump Threatens Insurrection Act, Meets with Venezuela's Machado, More
15 Jan 2026
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 South Alabama to protect civil rights demonstrators.
Chapter 3: How does the use of military for domestic law enforcement differ from historical precedents?
Homeland Security Secretary Christine Ohm says she does not think ICE has gone too far.
Our ICE agents are following the law and running their operations according to training.
President 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 governors.
Chapter 4: What is the significance of Maria Corina Machado's meeting with President Trump?
Venezuelan opposition leader Maria Corina Machado is at the White House for talks with President Trump. He sidelined her since toppling Nicolas Maduro.
Chapter 5: What are the details of the NCAA basketball point-shaving conspiracy?
Machado is trying to court Trump a day after the president used glowing terms to describe his first known call with Venezuela's interim president, Delce Rodriguez, a Maduro ally. 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.
Chapter 6: How are major banks adjusting their workforce in response to market conditions?
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. Efficiency is the name of the game on Wall Street these days. The six largest U.S. banks cut their combined headcount last year by the most in almost a decade, more than 10,600 to keep a lid on costs. Some firms like Wells Fargo and Citigroup cut jobs.
Others, like Goldman and Morgan Stanley, added to their ranks.
Chapter 7: What are the latest updates on jobless claims and the labor market?
Goldman Sachs blew through expectations for equities trading revenue, posting an all-time Wall Street record of $4.31 billion in the final three months of last year. CEO David Solomon on the analyst's call.
While the bar for transformational M&A remains very high, we will continue to look for ways to accelerate growth in asset and wealth management.
Goldman Sachs CEO David Solomon and Morgan Stanley's debt bankers increased revenue 93% in the fourth quarter, by far the biggest jump on Wall Street, capping a record year. During the analyst call, CEO and Chairman Ted Pick spoke about the 2026 outlook, predicting a mix of tailwinds and headwinds to prevail.
We are well served to watch for any overreaching against ongoing global uncertainties and higher asset prices. 2025 results, and in fact the results for every quarter over the last eight, are a blueprint for Morgan Stanley's success.
Morgan Stanley, CEO, Ted Pick. And we check markets for you all day long here at Bloomberg. The S&P 500 up 7 tenths of a percent. NASDAQ up 9 tenths of a percent. The Dow up 8 tenths of a percent. 10-year Treasury yield at 4.15 percent and the two-year yield at 3.56 percent.
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. He says he sees lower rates ahead as long as there's evidence of improvement on the inflation front. Richmond Fed President Thomas Barkin says retailers are no longer as confident that they can pass along higher costs.
He spoke at an event in Richmond saying that consumers are stretched and that the two engines of the economy today are the AI ecosystem and wealthy consumers. Kansas City Fed President Jeff Schmid said interest rates should stay at a level where they continue to put pressure on the economy so inflation can cool further.
He says he doesn't think further cuts in interest rates will do much to patch over any cracks in the labor market. San Francisco Fed President Mary Daly posted on social media projections for growth are solid, the labor market is stabilizing, and inflation is expected to improve over the course of the year. She says there is still some uncertainty.
The Trump administration continues to face criticism from high-level Republicans over the Justice Department probe into Fed Chair Jay Powell's congressional testimony. That includes House Financial Services Chairman French Hill.
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