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Trump: Warsh Wants Rate Cuts, Gold Plunges, More Epstein Files Released, More
30 Jan 2026
Chapter 1: What is the main topic discussed in this episode?
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News when you want it with Bloomberg News Now. I'm Amy Morris.
Chapter 2: What does President Trump say about Kevin Warsh's interest in rate cuts?
President Trump says his pick for Fed chair, Kevin Warsh, wants to cut interest rates, but that he won't pressure him to do it.
I want to keep it nice and pure, but he certainly wants to cut rates. I've been watching him for a long time.
Warsh, who served on the U.S. Central Bank's Board of Governors from 2006 to 2011, would succeed Jay Powell when his term ends in May. In April last year, Warsh addressed the International Monetary Fund, saying the Fed's, quote, current wounds are self-inflicted.
Chapter 3: How has Neil Dutta criticized Warsh's performance during the 2008 financial crisis?
Institutional drift has coincided with the Fed's failure to establish and achieve an essential part of its statutory remit, price stability. And the Fed's outsized role and underperformance have weakened the important and worthy case for monetary policy independence.
Neil Dutta is head of economic research at Renaissance Macro and says Warsh's performance as a Fed governor during the 2008 global financial crisis should be disqualifying.
To be that concerned about inflation at a time when the unemployment rate was rising very rapidly, you know, kind of strange fragility.
Renaissance Macro's Neil Dutta was a guest on Bloomberg Surveillance. Fed Governor Stephen Myron says he believes Warsh will be persuasive as Fed chair. Atlanta Fed President Rafael Bostic tells CNBC he doesn't have much experience with Warsh and that they'll all learn more as they work together.
The Federal Reserve is designed to have a different time horizon for its policy thinking than other policymakers. That creates tension. That is going to inherently lead to people having different views about what is important and how things should be weighted.
This week was Bostick's last as a policymaker. He will retire at the end of February. Republican Senator Tom Tillis says he will continue to oppose the confirmation of any Fed nominee until the DOJ's inquiry into current Fed Chair Jay Powell is resolved. He tells Bloomberg Surveillance that Kevin Warsh is qualified, but that won't change his stance.
They're pursuing, on the basis of criminal intent, testimony in a banking committee hearing. that clearly had no criminal intent.
Tillis says protecting the independence of the Federal Reserve from political interference or legal intimidation is, quote, non-negotiable. Trump says if Tillis doesn't lift the block, he'll wait him out. Tillis is not running for re-election. Fed Governor Christopher Waller, who was considered for the Fed chair position, is speaking out about why he dissented at this week's Fed meeting.
The board voted to keep rates steady, but Waller says economic data signals more cuts are needed. Waller, for months, has pointed to warning signs in the employment outlook. Spot gold has now dropped 10%. It's the biggest drop for gold in decades.
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Chapter 4: What are the implications of the Justice Department releasing more Epstein files?
We do check markets for you all day long here at Bloomberg. The S&P 500 down 7 tenths of a percent. NASDAQ down 1%. The Dow down 9 tenths of a percent. The 10-year Treasury yield at 4.24%. The two-year yield
Chapter 5: What details are revealed about the contents of the Epstein files?
At 3.53%, the Bloomberg Dollar Spot Index is about three-quarters of a percent higher. The Justice Department releasing millions more pages of documents in connection with the late disgraced financier Jeffrey Epstein and the government's latest move to comply with a new law ordering files be made public.
Deputy Attorney General Todd Blanche says the latest trope of documents is being released today in response to legislation passed by Congress in November.
The 2,000 videos and 180,000 images are not all videos and images taken by Mr. Epstein or someone around him. They include large quantities of commercial pornography and images that were seized from Epstein's devices.
The release follows earlier tranches, including thousands of pages of pictures, phone records, correspondence and notes. Blanche also says the Justice Department has opened a federal civil rights investigation into the death of Alex Preddy, the Minneapolis resident killed by Border Patrol officers. DHS officials say the FBI will lead that federal probe.
Former CNN anchor Don Lemon was arrested last night in California in connection with a federal case stemming from a protest at a Minnesota church. Lemon was filming the demonstration as part of his own journalism program and walked into the church as protesters did, calling out the pastor for helping ICE with deportation efforts. Robin Nunn is a lawyer and legal analyst in New York.
This case turns on whether the government can show probable cause the line into criminal conduct.
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Chapter 6: What recent developments surround Don Lemon's arrest?
These are serious federal rights, civil rights charges, but they hinge on conduct, not speech.
Federal prosecutors had tried to charge Lemon before, but the chief federal judge in Minneapolis declined to allow the case, saying there's no probable cause. Attorney General Pam Bondi says she ordered Lemon's arrest. The death penalty is off the table for now for Luigi Mangione. U.S.
District Judge Margaret Garnett ruled that prosecutors cannot pursue a murder charge that could have led to the death penalty if Mangione were found guilty. The government is expected to appeal. Mangione is awaiting trial for the killing of UnitedHealth executive Brian Thompson.
In her final downhill race before next month's Winter Olympic Games, skier Lindsey Vonn crashed as she was landing a jump and ended up tangled in the safety nets. She skied slowly to the finish line but had to be airlifted from the course. The U.S. ski team says Vonn is being evaluated.
Chapter 7: How is Lindsey Vonn's crash affecting her Olympic participation?
It is not clear how this will impact her participation in the Olympics, which begin February 6th. That's news when you want it with Bloomberg News Now. I'm Amy Morris.
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This sits alongside a clear 10-year industrial strategy, unlocking smarter regulation and making it faster and easier to operate. Stability with dynamism. Global connectivity with local depth. It all adds up to greater growth. Visit business.gov.uk slash growth.