Bloomberg News Now
White House Weighs Credit Card Executive Action, DOJ Investigating Walz & Frey, More
17 Jan 2026
Chapter 1: What is the main topic discussed in this episode?
News when you want it. With Bloomberg News Now, I'm Ed Kalecki. The White House is weighing an executive action to enact President Trump's call for a cap on credit card interest rates, in addition to other measures seeking to ease U.S. affordability challenges. The plan, which is still being crafted as administration officials discuss the terms with industry and Congress,
Chapter 2: What executive action is the White House considering regarding credit card interest rates?
His design to rent on credit cards is part of a broader push to reduce costs for Americans. Trump's action may also call on regulators to relax certain liquidity standards to help make the plan more attractive for the banks. The Department of Justice is investigating both Minnesota Governor Tim Walz and Minneapolis Mayor Jacob Fry over an alleged conspiracy to impede a federal immigration agent.
Meanwhile, President Trump told reporters Friday he would hold off on invoking the Insurrection Act after previously threatening to use the law to deploy military troops in Minnesota. Still, the president did not rule out using the 19th century law at a later date, saying, if I needed it, I'd use it.
A day earlier, Trump posted on social media that he would institute the Insurrection Act if the state's leaders failed to quell protests there. The 1807 statute allows the president to use regular military troops on U.S. soil for domestic law enforcement during an insurrection or civil disturbance without congressional approval. It was last invoked during the 1992 Los Angeles riots.
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 him, 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 3: What allegations are being investigated against Minnesota Governor Tim Walz and Minneapolis Mayor Jacob Fry?
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.
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Chapter 4: What are the implications of President Trump's comments on the Insurrection Act?
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.
They concluded there was no link between use of the drug with its brand name Tylenol and those outcomes in newborns. The Lancet paper comes after the Trump administration linked the use of Kenview's Tylenol to autism in September and advised pregnant women to avoid the drug. The Friday numbers on Wall Street, the Dow lost 83, Nasdaq fell 14, the S&P shed 4.
The 10-year Treasury yielded 4.22%, the two-year at 3.59%. That's news when you want it with Bloomberg News Now. I'm Ed Kalecki. This is Bloomberg.