US-Denmark Differences over Greenland, Trump on Iran, More
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What is the main topic discussed in this episode?
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News when you want it with Bloomberg News Now. I'm Doug Krisner. The prime minister of Greenland has categorically ruled out joining the U.S. He said the Arctic territory prefers to be in union with Denmark. Now, these remarks came as diplomats from both Denmark and Greenland met with U.S. officials, and they agreed to create a working group to discuss ways to work through their differences. Here is Danish Foreign Minister Lars-Luka Rasmussen.
We have decided to form a high-level working group to explore if we can find a common way forward. The group, in our view, should focus on how to address the American security concerns while at the same time respecting the red lines of the kingdom of Denmark.
Now, for his part, President Trump said he is not going to give up on acquiring Greenland.
If we don't go in, Russia is going to go in and China is going to go in. And there's not a thing that Denmark can do about it, but we can do everything about it.
Meantime, Germany said it's sending military personnel to Greenland as European nations respond to those U.S. threats. Also today, President Trump said he has been assured that Iran would stop killing protesters. Trump said he was informed by very important sources.
We've been told that the killing in Iran is stopping. It's stopped. It's stopping. And there's no plan for executions or an execution or executions. So I've been told that a good authority will find out about it.
Crude oil declined after President Trump's remarks. A congressional committee is working with Fed Chair Jay Powell on scheduling his next appearance before lawmakers. We know the Fed was recently served grand jury subpoenas from the Department of Justice related to Powell's congressional testimony last June on renovations of the Fed's headquarters. Today, the head of the Minneapolis Fed, Neal Kashkari, said the investigation is a pretext for putting more pressure on the central bank to cut interest rates.
I think we all believe very strongly that the U.S. economy is best served by having an independent Federal Reserve making monetary policy decisions based on data and analysis and nothing else.
That is Neil Kashkari, the head of the Minneapolis Fed, speaking at the Wisconsin Bankers Association. Kashkari went on to say the Fed's independence would remain protected even after President Trump replaces Powell, whose term as chair ends in May. The Fed's latest survey on the American economy shows activity picked up since mid-November at a slight to modest pace in most parts of the U.S. Here is Bloomberg's Charlie Pellett.
The Fed's page book surveys regional contacts, and it's showing an improvement over the last three report cycles, where a majority of districts reported little change. Officials say employment levels were mostly unchanged in eight of the Fed's 12 regional districts. According to the report, wages grew at, quote, a moderate pace, with multiple contacts reporting that wage growth had returned to normal levels. In New York, Charlie Pellett, Bloomberg Radio.
Banking shares fell today after reporting quarterly results. Wells Fargo missed profit estimates.
What are the latest updates on Greenland's political stance towards the U.S.?
The stock was down 4.6%. Bank of America slid 3.8% given concern about the bank's outlook for expenses.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:00–3:57
2
What are the latest updates on Greenland's political stance towards the U.S.?
3:57–5:41
3
How is Denmark responding to U.S. security concerns regarding Greenland?
5:41–6:50
4
What did President Trump say about acquiring Greenland?
6:50–7:21
Speakers
9 identifiedMore from Bloomberg News Now
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