President-elect Donald Trump said he is nominating Scott Bessent, who runs macro hedge fund Key Square Group, as the next US Treasury Secretary, enlisting a key adviser to manage the sweeping economic agenda he has vowed to enact in a second term. Bloomberg Balance of Power hosts Joe Mathieu and Kailey Leinz offer instant reaction.

President-elect Donald Trump said he is nominating Scott Bessent, who runs macro hedge fund Key Square Group, as the next US Treasury Secretary, enlisting a key adviser to manage the sweeping economic agenda he has vowed to enact in a second term. Bloomberg Balance of Power hosts Joe Mathieu and Kailey Leinz offer instant reaction.

Listen for reporting from the magazine that helps global leaders stay ahead. 

Hosts Carol Massar and Tim Stenovec bring you insight on the people, companies and trends shaping today's complex economy.  You can watch and listen to Businessweek LIVE on YouTube, weekdays from 2PM to 5PM ET: http://bit.ly/3vTiACF. 

Listen for reporting from the magazine that helps global leaders stay ahead. Hosts Carol Massar and Tim Stenovec bring you insight on the people, companies and trends shaping today's complex economy.&nbsp; You can watch and listen to Businessweek LIVE on YouTube, weekdays from 2PM to 5PM ET: <a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>.&nbsp;

Carol Massar and Tim Stenovec bring together the latest news from the world of business and finance and the interesting stories of global technology, politics, economics and more by harnessing the power of Bloomberg Businessweek reporters and editors.

Bloomberg Businessweek

SPECIAL REPORT: Trump Nominates Scott Bessent To Lead US Treasury

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/ced7e613-3572-40a5-af35-b231000b70ba/transcript

The people, companies and trends shaping the global economy. 

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF 

The Justice Department is ending a controversial investigation into building-renovation cost overruns at the Federal Reserve, potentially clearing a path to confirmation for Kevin Warsh, President Donald Trump’s pick to be the next chair of the central bank. 

Jeanine Pirro, US Attorney for the District of Columbia, said in a social media post Friday the Fed’s Office of Inspector General had been asked to scrutinize the cost overruns. She said she expects a report soon on the findings. 

“I have directed my office to close our investigation as the IG undertakes this inquiry,” Pirro said in the post. “Note well, however, that I will not hesitate to restart a criminal investigation should the facts warrant doing so.” 

The Fed’s OIG is already conducting a review of the renovation of the central bank’s headquarters, which it opened last year at the request of Fed Chair Jerome Powell. US Treasuries edged slightly higher following the announcement, with shorter-dated notes leading gains as some traders bet a Warsh-led Fed would be more inclined to cut interest rates. The two-year yield fell five basis points to 3.78%. 

The White House said in a statement “American taxpayers deserve answers about the Federal Reserve’s fiscal mismanagement, and the Office of the Inspector General’s more powerful authorities best position it to get to the bottom of the matter.” 

Today’s show features: 
Michael McKee, Bloomberg News International Economics & Policy Correspondent 
Grindr CEO George Arison on earnings and the company sponsoring the White House Correspondent Dinner Event 
Joshua Green, Bloomberg Businessweek National Correspondent, on Thomas Massie Gaining Ground with MAGA Base 
Ian King, Bloomberg News US Semiconductor Reporter on Intel and Texas Instruments 
Barbara Humpton, CEO at USA Rare Earth

The people, companies and trends shaping the global economy.&nbsp;
Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF&nbsp;
The Justice Department is ending a controversial investigation into building-renovation cost overruns at the Federal Reserve, potentially clearing a path to confirmation for Kevin Warsh, President Donald Trump&rsquo;s pick to be the next chair of the central bank.&nbsp;
Jeanine Pirro, US Attorney for the District of Columbia, said in a social media post Friday the Fed&rsquo;s Office of Inspector General had been asked to scrutinize the cost overruns. She said she expects a report soon on the findings.&nbsp;
&ldquo;I have directed my office to close our investigation as the IG undertakes this inquiry,&rdquo; Pirro said in the post. &ldquo;Note well, however, that I will not hesitate to restart a criminal investigation should the facts warrant doing so.&rdquo;&nbsp;
The Fed&rsquo;s OIG is already conducting a review of the renovation of the central bank&rsquo;s headquarters, which it opened last year at the request of Fed Chair Jerome Powell. US Treasuries edged slightly higher following the announcement, with shorter-dated notes leading gains as some traders bet a Warsh-led Fed would be more inclined to cut interest rates. The two-year yield fell five basis points to 3.78%.&nbsp;
The White House said in a statement &ldquo;American taxpayers deserve answers about the Federal Reserve&rsquo;s fiscal mismanagement, and the Office of the Inspector General&rsquo;s more powerful authorities best position it to get to the bottom of the matter.&rdquo;&nbsp;
Today&rsquo;s show features:&nbsp;
<ul>
<li>Michael McKee, Bloomberg News International Economics &amp; Policy Correspondent&nbsp;</li>
<li>Grindr CEO George Arison on earnings and the company sponsoring the White House Correspondent Dinner Event&nbsp;</li>
<li>Joshua Green, Bloomberg Businessweek National Correspondent, on Thomas Massie Gaining Ground with MAGA Base&nbsp;</li>
<li>Ian King, Bloomberg News US Semiconductor Reporter on Intel and Texas Instruments&nbsp;</li>
<li>Barbara Humpton, CEO at USA Rare Earth</li>
</ul>

DOJ Drops Powell Probe, Smoothing Path for Warsh to Lead Fed

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/2cacdb64-fc16-4af2-9632-b4360171900b/transcript

Doug Lucas, is a double board-certified physician in Orthopedic Surgery and in Anti-Aging & Regenerative Medicine, specializing in Osteoporosis Reversal, Hormone Replacement, and HealthSpan optimization. After completing his training at Stanford University and practicing nearly a decade as an orthopedic surgeon, Dr. Doug left surgery to pursue an additional fellowship and board certification in Anti-Aging and Regenerative Medicine.

Dr. Doug shares his passion for education and disease prevention. While he champions health and hormone optimization for all, his mission is especially focused on educating the world that osteoporosis is both preventable. He speak with Bloomberg's Carol Massar and Tim Stenovec.

Doug Lucas, is a double board-certified physician in Orthopedic Surgery and in Anti-Aging &amp; Regenerative Medicine, specializing in Osteoporosis Reversal, Hormone Replacement, and HealthSpan optimization. After completing his training at Stanford University and practicing nearly a decade as an orthopedic surgeon, Dr. Doug left surgery to pursue an additional fellowship and board certification in Anti-Aging and Regenerative Medicine.
Dr. Doug shares his passion for education and disease prevention. While he champions health and hormone optimization for all, his mission is especially focused on educating the world that osteoporosis is both preventable. He speak with Bloomberg's Carol Massar and Tim Stenovec.

Women Lose Significant Bone Density During Menopause

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/cc9d7fbe-8d0d-44db-8394-b435016b9f5a/transcript

The people, companies and trends shaping the global economy.

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.

The US Justice Department reclassified state-regulated marijuana as a less dangerous drug, a major shift that could increase legal cannabis sales and help a struggling industry.

The directive signed by acting Attorney General Todd Blanche moved licensed marijuana products from Schedule I — the same federal category as heroin and LSD — to the less strictly controlled Schedule III. The action stops short of fully legalizing the drug for recreational use nationwide, but it meets the demands of many advocates who have long argued for looser restrictions.

The move is likely to make operations easier for cannabis companies, including potentially gaining greater access to the banking system and reducing taxes, and bolster medical research with the drug. The US industry, which includes public firms, has been trying to revive growth in recent years after an initial surge last decade.

Shares of firms that sell marijuana products initially gained after the announcement, but then reversed course. The AdvisorShares Pure US Cannabis ETF declined as much as 15%. The drop for Curaleaf Holdings Inc., one of the largest US cannabis companies, hit 24%.

The order narrowly applied to medical use of cannabis only, rather than broadly addressing adult recreational usage, which “might also be causing some confusion,” Aaron Grey, an analyst with Alliance Global Partners, said in an interview.

Today's show features:
Curaleaf CEO Boris Jordan
Bloomberg Tech co-host Ed Ludlow on tech news roundup
Florian Ielpo, Head of Macro at Lombard Odier Investment on market reaction to Iran/geopolitics and inflation outlook latest
George Ferguson, Bloomberg Intelligence Senior Defense and Airlines Analyst on Airlines

The people, companies and trends shaping the global economy.
Watch Carol and Tim LIVE every day on YouTube:&nbsp;<a href="http://bit.ly/3vTiACF" data-destination="rte:bind">http://bit.ly/3vTiACF</a>.
The US Justice Department reclassified state-regulated marijuana as a less dangerous drug, a major shift that could increase legal cannabis sales and help a struggling industry.
The directive signed by acting Attorney General Todd Blanche moved licensed marijuana products from Schedule I &mdash; the same federal category as heroin and LSD &mdash; to the less strictly controlled Schedule III. The action stops short of fully legalizing the drug for recreational use nationwide, but it meets the demands of many advocates who have long argued for looser restrictions.
The move is likely to make operations easier for cannabis companies, including potentially gaining greater access to the banking system and reducing taxes, and bolster medical research with the drug. The US industry, which includes public firms, has been trying to revive growth in recent years after an initial surge last decade.
Shares of firms that sell marijuana products initially gained after the announcement, but then reversed course. The AdvisorShares Pure US Cannabis ETF declined as much as 15%. The drop for Curaleaf Holdings Inc., one of the largest US cannabis companies, hit 24%.
The order narrowly applied to medical use of cannabis only, rather than broadly addressing adult recreational usage, which &ldquo;might also be causing some confusion,&rdquo; Aaron Grey, an analyst with Alliance Global Partners, said in an interview.
Today's show features:
<ul>
<li>Curaleaf CEO Boris Jordan</li>
<li>Bloomberg Tech co-host Ed Ludlow on tech news roundup</li>
<li>Florian Ielpo, Head of Macro at Lombard Odier Investment on market reaction to Iran/geopolitics and inflation outlook latest</li>
<li>George Ferguson, Bloomberg Intelligence Senior Defense and Airlines Analyst on Airlines</li>
</ul>

US Reduces Marijuana Restrictions in Lift to Ailing Industry

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/897cd984-1e64-4074-aded-b435016b951e/transcript

SPECIAL REPORT: Trump Nominates Scott Bessent To Lead US Treasury

In 1 playlist(s)

Bloomberg Businessweek

Social links

Follow podcast

Recent clips