Bloomberg's Nathan Hager and Michael McKee discuss the latest PCE data and reaction from Fed Chair Jerome Powell. Plus, reaction from Wells Fargo Senior Economist Sarah House.

Bloomberg's Nathan Hager and Michael McKee discuss the latest PCE data and reaction from Fed Chair Jerome Powell. Plus, reaction from Wells Fargo Senior Economist Sarah House.

Listen for today's top stories, with context, in just 15 minutes. Get informed from Bloomberg's 3,000 journalists and analysts.

Listen for today's top stories, with context, in just 15 minutes. Get informed from Bloomberg's 3,000 journalists and analysts.

Bloomberg Daybreak: US Edition

Instant Reaction: Jay Powell Speaks

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/078c2bbc-0e57-43d5-8767-b1420113e6d5/transcript

On today's podcast:
1) An Immigration and Customs Enforcement officer fatally shot a woman during a confrontation in Minneapolis, sparking an uproar over the presence of ICE agents in the city and heightening political divisions around the Trump administration’s migrant crackdown. The Wednesday shooting — caught on video and shared widely on social media — happened during what federal officials described as a targeted operation amid a broader immigration effort. President Trump and his allies cast it as an incident of self-defense, a view that the mayor of Minneapolis called a “garbage narrative.” The deadly incident fueled a national debate over Trump’s efforts to send heavily armed federal agents into US cities in his push for mass deportations, with operations ramping up last year from Chicago to Los Angeles.
2) US forces seized two more sanctioned oil tankers as part of its energy quarantine of Venezuela, signaling that the Trump administration will ratchet up its pressure campaign days after capturing President Nicolas Maduro. The first ship, the M/V Bella 1, was seized in the Atlantic south of Iceland after a chase that began weeks ago when the vessel evaded capture near Venezuela and registered under a Russian flag in a bid to protect itself. The Pentagon then announced the seizure of the M/T Sophia, another sanctioned vessel that officials said had been conducting illicit activities in the Caribbean Sea.
3) US officials are rushing to come up with options for business deals and other ways to step up links to Greenland, taken by surprise by President Trump’s renewed demand to take over the island, people familiar with the matter said. Trump has long wanted the territory for what he says are security reasons. But after a flurry of activity on the issue early last year, including a trip there by his vice president, once-urgent efforts to realize the president’s vision moved to the back burner, according to sources. On Tuesday, the White House said it wouldn’t rule out military action, while European leaders issued an unprecedented warning to dissuade Washington from trying to seize territory from a NATO ally.

On today's podcast: 1) An Immigration and Customs Enforcement officer fatally shot a woman during a confrontation in&nbsp;Minneapolis, sparking an uproar over the presence of&nbsp;ICE&nbsp;agents in the city and heightening political divisions around the Trump administration&rsquo;s migrant crackdown.&nbsp;The Wednesday shooting &mdash; caught on video and shared widely on social media &mdash; happened during what federal officials described as a targeted operation amid a broader immigration effort. President&nbsp;Trump&nbsp;and his allies cast it as an incident of self-defense, a view that the mayor of Minneapolis called a &ldquo;garbage narrative.&rdquo; The deadly incident fueled a national debate over Trump&rsquo;s efforts to send heavily armed federal agents into US cities in his push for mass deportations, with operations ramping up last year from Chicago to Los Angeles. 2) US forces seized two more sanctioned oil tankers as part of its energy quarantine of Venezuela, signaling that the Trump administration will ratchet up its pressure campaign days after capturing President&nbsp;Nicolas Maduro. The first ship, the M/V Bella 1, was seized in the Atlantic south of Iceland after a chase that began weeks ago when the vessel evaded capture near Venezuela and registered under a Russian flag in a bid to protect itself. The Pentagon then announced the seizure of the M/T Sophia, another sanctioned vessel that officials said had been conducting illicit activities in the Caribbean Sea. 3) US officials are rushing to come up with options for business deals and other ways to step up links to Greenland, taken by surprise by President&nbsp;Trump&rsquo;s renewed demand to take over the island, people familiar with the matter said. Trump has long wanted the territory for what he says are security reasons. But after a flurry of activity on the issue early last year, including a trip there by his vice president, once-urgent efforts to realize the president&rsquo;s vision moved to the back burner, according to sources.&nbsp;On Tuesday, the White House said it wouldn&rsquo;t rule out&nbsp;military action, while European leaders issued an unprecedented warning to dissuade Washington from trying to seize territory from a NATO ally.

ICE Minneapolis Shooting Sparks Anger; US Seizes Two More Tankers in Venezuela Campaign

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/023b7b0c-d837-4f31-933f-b3cc00ac87d3/transcript

On today's podcast:
1) President Trump said Venezuela would relinquish as much as 50 million barrels of oil to the US, worth roughly $2.8 billion at the current market price, announcing the cargoes would be sold with proceeds benefiting both countries. The announcement late on Tuesday, which came with few details, marked a significant step up for the US government as it seeks to extend its economic influence in Venezuela and beyond after the capture of leader Nicolas Maduro over the weekend. It’s also a blow to China, previously the top buyer of the country’s oil and a close partner. The volumes cited by Trump would represent about 30 to 50 days of Venezuelan oil production before the US’s partial blockade of the country — much reduced from historic levels.
2)  President Trump won’t rule out the use of military force to acquire Greenland, the White House said, escalating tension with Denmark, a fellow NATO member, over a dispute that’s surged back into public view following the ouster of Venezuelan strongman Nicolas Maduro. Trump is considering many ways of achieving his goal of acquiring the Arctic island, White House Press Secretary Karoline Leavitt said in a statement. Still, Secretary of State Marco Rubio downplayed the notion of military action in a briefing with lawmakers on Monday, instead signaling that an invasion was not imminent and that the goal was to buy the island from Denmark, the Wall Street Journal reported.
3) President Trump implored Republicans to turn around their political fortunes ahead of November’s midterm elections, warning that if Democrats retake control of Congress, he would be impeached for a third time. Trump offered a familiar blueprint for majority parties, which historically have lost seats in off-year elections: blaming their troubles on messaging problems and insisting that voters just aren’t seeing their achievements. Trump predicted the GOP would pull off an “epic” victory and defy those trends. Yet polls showing Americans’ dissatisfaction with his leadership and the state of the economy bode poorly for Republicans’ chances of keeping control of Congress.

On today's podcast: 1) President&nbsp;Trump&nbsp;said Venezuela would relinquish as much as 50 million barrels of oil to the US, worth roughly $2.8 billion at the current market price, announcing the cargoes would be sold with proceeds benefiting both countries. The announcement late on Tuesday, which came with few details, marked a significant step up for the US government as it seeks to extend its economic influence in Venezuela and beyond after the capture of leader&nbsp;Nicolas Maduro&nbsp;over the weekend. It&rsquo;s also a blow to China, previously the top buyer of the country&rsquo;s oil and a close partner. The volumes cited by Trump would represent about 30 to 50 days of Venezuelan oil production before the US&rsquo;s partial blockade of the country &mdash; much reduced from historic levels. 2) &nbsp;President&nbsp;Trump&nbsp;won&rsquo;t rule out the use of military force to acquire Greenland, the White House said, escalating tension with Denmark, a fellow NATO member, over a dispute that&rsquo;s surged back into public view following the ouster of Venezuelan strongman&nbsp;Nicolas Maduro. Trump is considering many ways of achieving his goal of acquiring the Arctic island, White House Press Secretary&nbsp;Karoline Leavitt&nbsp;said in a statement. Still, Secretary of State&nbsp;Marco Rubio&nbsp;downplayed the notion of military action in a briefing with lawmakers on Monday, instead signaling that an invasion was not imminent and that the goal was to buy the island from Denmark, the Wall Street Journal&nbsp;reported. 3) President Trump&nbsp;implored Republicans to turn around their political fortunes ahead of November&rsquo;s midterm elections, warning that if Democrats retake control of Congress, he would be impeached for a third time. Trump offered a familiar blueprint for majority parties, which historically have lost seats in off-year elections: blaming their troubles on messaging problems and insisting that voters just aren&rsquo;t seeing their achievements. Trump predicted the GOP would pull off an &ldquo;epic&rdquo; victory and defy those trends. Yet polls showing Americans&rsquo; dissatisfaction with his leadership and the state of the economy bode poorly for Republicans&rsquo; chances of keeping control of Congress.

Trump Says Venezuela to Send Up to $2.8 BN of Oil; US Won’t Rule Out Military Force to Acquire Greenland

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/e6c083c4-8431-4018-9442-b3cb00ae01d3/transcript

On today's podcast:
1) Ousted Venezuela President Nicolás Maduro pleaded not guilty on Monday to US charges in a narco-terrorism case against him, kicking off an extraordinary legal battle with major geopolitical ramifications. The US accused Maduro over the weekend of using his positions in government for a quarter of a century to enrich himself and help transport cocaine into the country. The toppling of Maduro reverberated around the world and signaled President Trump’s willingness to reconfigure the global order. 
2) Venezuela’s government is reasserting itself after the capture of Nicolás Maduro, swearing in Delcy Rodríguez as acting president and flashing warning signs that a new wave of repression has begun. As the government continued to churn inside the presidential palace Miraflores, Venezuela’s military counterintelligence officials have been patrolling the streets of Caracas, according to at least two witnesses. At least seven journalists and members of the press were detained on Monday morning and early afternoon, most of them at the National Assembly and its surroundings, according to the national press workers syndicate.
3) President Trump suggested the US may subsidize efforts by energy companies to rebuild Venezuela’s oil industry as his administration seeks to convince firms to invest in the country days after ousting strongman Nicolás Maduro. Trump said the project to have US oil industry companies expand their operations in the country could be “up and running” in less than 18 months, in an interview Monday with NBC News — a timeframe starkly at odds with estimates from energy industry experts, while oil companies have been largely silent about their willingness to reinvest in Venezuela.

On today's podcast: 1) Ousted&nbsp;Venezuela&nbsp;President&nbsp;Nicol&aacute;s Maduro&nbsp;pleaded not guilty on Monday to US charges in a narco-terrorism case against him, kicking off an extraordinary legal battle with major geopolitical ramifications. The US accused Maduro over the weekend of using his positions in government for a quarter of a century to enrich himself and help transport cocaine into the country. The toppling of Maduro reverberated around the world and signaled President&nbsp;Trump&rsquo;s willingness to reconfigure the global order.&nbsp; 2) Venezuela&rsquo;s government is reasserting itself after the capture of&nbsp;Nicol&aacute;s Maduro, swearing in&nbsp;Delcy Rodr&iacute;guez&nbsp;as acting president and flashing warning signs that a new wave of repression has begun. As the government continued to churn inside the presidential palace Miraflores, Venezuela&rsquo;s military counterintelligence officials have been patrolling the streets of Caracas, according to at least two witnesses. At least seven journalists and members of the press were detained on Monday morning and early afternoon, most of them at the National Assembly and its surroundings, according to the national press workers syndicate. 3) President&nbsp;Trump&nbsp;suggested the US may subsidize efforts by energy companies to rebuild Venezuela&rsquo;s oil industry as his administration seeks to convince firms to invest in the country days after ousting strongman&nbsp;Nicol&aacute;s Maduro. Trump said the project to have US oil industry companies expand their operations in the country could be &ldquo;up and running&rdquo; in less than 18 months, in an interview Monday&nbsp;with NBC News&nbsp;&mdash; a timeframe starkly at odds with estimates from energy industry experts, while oil companies have been largely silent about their willingness to reinvest in Venezuela.

Maduro Pleads Not Guilty; Venezuela Regroups With New Leader

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/49041e9e-a79a-44f7-b64d-b3ca00aea754/transcript

Instant Reaction: Jay Powell Speaks

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