Chapter 1: What is the main topic discussed in this episode?
Donald Trump is rewriting the Washington rulebook and reshaping the global economy. If you're trying to connect the dots behind the headlines, Bloomberg's Trumponomics podcast is here to help. I'm Stephanie Flanders, Head of Government and Economics at Bloomberg. Every week I'll bring you a smart, focused conversation with reporters and experts from Washington, Wall Street and beyond.
Listen to new episodes every Wednesday and follow Trumponomics wherever you listen.
News when you want it. With Bloomberg News Now, I'm Ed Kalecki. President Trump has expressed reluctance toward nominating Kevin Hassett as Federal Reserve Chair, casting further doubt over his search for the next head of the central bank.
Trump on Friday said if Hassett were to leave his post as Director of the White House National Economic Council, it would deprive the administration of one of its most powerful messengers on the economy.
I actually want to keep you where you are if you want to know the truth. Kevin Hassett is so good. If I move them, these Fed guys, certainly the one we have now, they don't talk much. I would lose you. It's a serious concern to me. So I just want to say thank you very much. You've done incredible.
Hassett has been seen as a top contender to succeed Fed Chair Jerome Powell. Gold slipped the most in more than two weeks after President Trump expressed reluctance over nominating Hassett as Federal Reserve Chair, casting further doubt over his search for the next head of the central bank.
During an appearance on Fox Business, Treasury Secretary Scott Besant talked about when we may learn of President Trump's choice to lead the Fed.
We've run a process and it will be the president's decision in the next couple of days or weeks. I'd expected that we would here have a decision either before he leaves for Davos or when he returns.
Meanwhile, Federal Reserve Vice Chair Philip Jefferson said interest rates are near the level that neither slows nor stimulates the economy, leaving officials in a good place to respond to evolving risks.
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Chapter 2: What are the implications of Trump's reluctance to nominate Kevin Hassett as Fed Chair?
It was last invoked during the 1992 Los Angeles riots. The Supreme Court has agreed to hear Bayer's appeal, taking aim at thousands of lawsuits targeting its top-selling Roundup weed killer for causing cancer.
The high court agreed Friday to hear Bayer's challenge to a $1.25 million Missouri jury verdict against the company's Monsanto unit over Roundup on the grounds some of the claims in the 2023 case were preempted by federal law. Bayer officials hope the justice's ruling will help knock out thousands of Roundup cases that include failure to warn claims.
The company already has paid more than $10 billion in verdicts and settlements over the herbicide and its active ingredient glyphosate. It has set aside another $6 billion to deal with the litigation.
Venezuelan leader Marina Corina Machado, who emerged from hiding to accept the Nobel Peace Prize, spoke optimistically of a future democratically elected government following her meeting with President Trump, who decided to work with the current acting president of Venezuela.
I have no doubt that President Trump, his administration, and the people of the United States support democracy, justice, freedom, and the mandate of the people of Venezuela. I have absolutely no doubt because it's crucial for the American people
Marina Carina Machado. A down Friday and a losing week for the U.S. equity market. We get a wrap-up from Bloomberg's Charlie Pellett.
Stocks move lower on concern that President Trump is cooling on his dovish frontrunner Kevin Hassett to head the Federal Reserve. The S&P 500 struggled to gain traction and for the week down 0.4% while the Russell 2000 index of small cap shares kept rising and beat the S&P 500 for an 11th straight session. For January, the Russell 2000 is up 7.9%. For the week, Dow Industrials down 0.3%.
NASDAQ on the week down 0.7%. In New York, Charlie Pellett, Bloomberg Radio.
Using the common painkiller acetaminophen during pregnancy is not linked to neurodevelopmental disorders in children. This according to a study published in The Lancet on Friday. Researchers conducted a systematic review of numerous studies that looked at links between use of the pain reliever and autism, intellectual disabilities, and attention deficit hyperactivity disorder.
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