Bloomberg News Now
Trump Threatens Sanctuary Cities, Continues Fed Chair Criticism, More
13 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 actions is President Trump taking against sanctuary cities?
President Trump says sanctuary cities or states with sanctuary cities will not receive payments from the federal government starting February 1st. During a speech at the Detroit Economic Club, the president said the federal government has stopped making payments to those cities and states. He also doubled down on his criticism of Fed Chair Jay Powell.
Chapter 3: How does President Trump criticize Fed Chair Jay Powell?
And just last week, the average 30-year mortgage dropped below 6% for the first time in many years. It's coming down very rapidly, and that's not with the help of the Fed. If I had the help of the Fed, it would be easier.
Chapter 4: What are President Trump's views on U.S. manufacturing and trade agreements?
But that jerk will be gone soon.
President Trump is in Michigan to promote his efforts to boost U.S. manufacturing.
Chapter 5: What is President Trump's message to Iranian protesters?
During a tour of a Ford factory in Dearborn, the president called the North American trade agreement that he brokered irrelevant.
Chapter 6: How is SpaceX providing support to Iran during protests?
I don't even think about USMCA. I want to see Canada and Mexico do well, but the problem is we don't need their product. We don't need cars made in Canada. We don't need cars made in Mexico. We want to make them here.
Trump's comments mark another warning shot that the scheduled renegotiation of the USMCA could turn into an airing of grievances by Washington against Mexico and Canada. And President Trump posted on social media that he canceled talks with Iranian officials amid a protest crackdown, telling Iranian citizens, quote, help is on its way.
At the Detroit Economic Club, Trump encouraged the demonstrators in Iran to keep going.
Chapter 7: What recent developments are occurring in the Supreme Court regarding transgender athletes?
Keep protesting. Take over your institutions if possible. Abusing you, you're being very badly abused.
Democratic Representative Pete Aguilar of California.
We want the people of Iran to be safe. We don't want people exercising their opinions to die in the streets. But the president needs to consult with Congress on actions that involve the United States military.
Activists say the death toll from those protests in Iran spiked to at least 2,000 people killed. So now SpaceX is offering free Starlink satellite service in Iran. The company has lifted the subscription fee so anyone with a receiver in Iran can access that service for free. SpaceX isn't commenting, but a source familiar with the operations confirms to Bloomberg...
The service is available for those who need it in Iran. And the president said his administration expects to win the tariff case that's now before the U.S. Supreme Court.
Every prediction the critics made about our tariff policy has failed.
To materialize. Trump says if he doesn't win the case, he'll figure something else out. Wall Street traders sent stocks lower as inflation data failed to alter bets on a pause in Fed rate cuts. We check those markets for you all day long here at Bloomberg, the S&P 500. Down four-tenths of a percent. NASDAQ down four-tenths of a percent. The Dow down nine-tenths of a percent.
The 10-year Treasury yield at 4.16% and the two-year yield at 3.5%. Underlying inflation rose less than expected last month after shutdown-related distortions complicated the previous report on consumer prices. Bloomberg's Michael McKee reports the December Consumer Price Index rose three-tenths of a percent. The core number that leaves out food and energy rose just two-tenths.
The interesting thing is housing because there was a feeling that the lack of October data would depress the housing numbers and keep them depressed. But we see owner's equivalent rent come in by three-tenths gain. That's up a little bit. And rent itself up four-tenths on the month.
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