Global stock markets tumbled as concerns about a US economic slowdown intensified. Traders ramped up bets that the Federal Reserve will step in with an emergency interest rate cut. For instant reaction to this selloff, and how Fed officials will respond, Bloomberg's Nathan Hager speaks with Veronica Clark, US Economist at Citigroup.

Global stock markets tumbled as concerns about a US economic slowdown intensified. Traders ramped up bets that the Federal Reserve will step in with an emergency interest rate cut. For instant reaction to this selloff, and how Fed officials will respond, Bloomberg's Nathan Hager speaks with Veronica Clark, US Economist at Citigroup.

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: Will the Fed Cut Quicker After This Selloff?

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/efadad13-32d3-4354-a83e-b1c300bbe0fc/transcript

On today's podcast:
1) Tensions in Minneapolis escalated again Wednesday night after a federal officer shot a man in the leg during an attempted arrest. Homeland Security says the Venezuelan man fled in a vehicle, crashed, and then struck an officer with a shovel as two others joined the struggle. City leaders condemned ICE’s presence, urging the agency to “leave the state immediately,” while Police Chief Brian O’Hara warned of growing unrest. The shooting occurred as tensions between protesters and immigration enforcement officers continued to flare in the city following the fatal shooting of 37-year-old Renee Good last week.
2) Denmark said a “fundamental disagreement” remained after a high-stakes meeting with the US over Greenland as several countries including Germany said they’d send military personnel to the Arctic island. Foreign ministers from Denmark and Greenland met with US Vice President JD Vance and Secretary of State Marco Rubio in Washington, agreeing to establish a working group that’s set to gather within weeks to plot the way forward, while the US refrained from backing down on its demands. On Thursday, Germany’s “exploration mission” will arrive in Nuuk as European nations begin to work out how to ensure security in the region.
3) President Trump faulted Ukraine’s leader Volodymyr Zelenskiy as the main obstacle to an agreement to end the war Russia launched against his country four years ago. Trump, in an interview with Reuters on Wednesday, described Russian President Vladimir Putin as “ready to make a deal,” Reuters reported. When pressed on what was impeding a deal, Trump replied, “Zelenskiy,” Reuters said. Trump has oscillated between blaming Ukraine and Russia for failing to reach an accord, which he had claimed during his 2024 presidential campaign could be easily resolved. The US has prepared further sanctions should Trump decide to act on Russia’s continued rejection of a peace deal. US and Ukrainian officials have said they’ve made significant progress on a 20-point plan to end the fighting, however Kyiv and Moscow remain at an impasse over a number of issues including territorial control of areas Russia claims that remain under Ukrainian control.

On today's podcast: 1) Tensions in Minneapolis escalated again Wednesday night after a federal officer shot a man in the leg during an attempted arrest. Homeland Security says the Venezuelan man fled in a vehicle, crashed, and then struck an officer with a shovel as two others joined the struggle. City leaders condemned ICE&rsquo;s presence, urging the agency to &ldquo;leave the state immediately,&rdquo; while Police Chief Brian O&rsquo;Hara warned of growing unrest. The shooting occurred as tensions between protesters and immigration enforcement officers continued to flare in the city following the fatal shooting of 37-year-old Renee Good last week. 2) Denmark said a &ldquo;fundamental disagreement&rdquo; remained after a high-stakes meeting with the US over Greenland as several countries including Germany said they&rsquo;d send military personnel to the Arctic island. Foreign ministers from Denmark and Greenland met with US Vice President&nbsp;JD Vance&nbsp;and Secretary of State&nbsp;Marco Rubio&nbsp;in Washington, agreeing to establish a working group that&rsquo;s set to gather within weeks to plot the way forward, while the US refrained from backing down on its demands. On Thursday, Germany&rsquo;s &ldquo;exploration mission&rdquo; will arrive in Nuuk as European nations begin to work out how to ensure security in the region. 3) President Trump&nbsp;faulted Ukraine&rsquo;s leader&nbsp;Volodymyr Zelenskiy&nbsp;as the main obstacle to an agreement to end the war Russia launched against his country four years ago. Trump, in an interview with Reuters on Wednesday, described Russian President Vladimir Putin as &ldquo;ready to make a deal,&rdquo; Reuters reported. When pressed on what was impeding a deal, Trump replied, &ldquo;Zelenskiy,&rdquo; Reuters said. Trump has oscillated between blaming Ukraine and Russia for failing to reach an accord, which he had claimed during his 2024 presidential campaign could be easily resolved. The US has prepared further sanctions should Trump decide to act on Russia&rsquo;s continued rejection of a peace deal. US and Ukrainian officials have said they&rsquo;ve made significant progress on a 20-point plan to end the fighting, however Kyiv and Moscow remain at an impasse over a number of issues including territorial control of areas Russia claims that remain under Ukrainian control.

Second ICE Shooting in Minneapolis as Protests Intensify; Denmark-US Rift Persists Over Greenland

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/4e711ab6-5d93-4b06-818a-b3d300ad0d93/transcript

On today's podcast:
1) President Trump dismissed Jamie Dimon’s criticism over the Justice Department probe into the Federal Reserve, saying the JPMorgan Chase & Co. chief executive officer was “wrong” to suggest he was undermining the independence of the central bank. Earlier Tuesday, Dimon expressed concern about the investigation into Fed Chair Jerome Powell over the cost of the central bank’s headquarters renovation and his subsequent congressional testimony about the project. Trump said he would press ahead with plans to announce Powell’s replacement within “the next few weeks” despite the backlash to the probe, which has drawn criticism from Republican lawmakers — including a threat by Senator Thom Tillis, a retiring North Carolina Republican and swing vote on the Senate Banking Committee. Tillis has said he would block new nominations to the Fed until the matter is resolved.
2) More than 2,500 people have been killed in Iranian protests that have swept the nation, activist groups said, as Tehran continued its crackdown despite President Trump’s threat of action over mounting fatalities. The US-based Human Rights Activists News Agency reported 2,571 deaths as of Wednesday, up from about 500 at the start of the week and amid speculation the actual toll could be dramatically higher. On Tuesday, Trump urged Iranians to continue protests against the regime of Supreme Leader Ayatollah Ali Khamenei.
3) Top diplomats from Greenland and Denmark are gearing up for the test of a lifetime as they work to persuade the Trump administration to back off on its demands for the Arctic territory that threaten to break up the NATO defense alliance. Danish Foreign Minister Lars Lokke Rasmussen and his counterpart from Nuuk, Vivian Motzfeldt, will face US Vice President JD Vance and Secretary of State Marco Rubio at the White House on Wednesday, just hours after the island’s prime minister said that if made to choose, Greenland would opt for Denmark.

On today's podcast: 1) President&nbsp;Trump&nbsp;dismissed&nbsp;Jamie Dimon&rsquo;s criticism over the&nbsp;Justice Department&nbsp;probe into the Federal Reserve, saying the&nbsp;JPMorgan Chase &amp; Co.&nbsp;chief executive officer was &ldquo;wrong&rdquo; to suggest he was undermining the independence of the central bank. Earlier Tuesday, Dimon expressed concern about the investigation into Fed Chair Jerome Powell over the cost of the central bank&rsquo;s headquarters renovation and his subsequent congressional testimony about the project. Trump said he would press ahead with plans to announce Powell&rsquo;s replacement within &ldquo;the next few weeks&rdquo; despite the backlash to the probe, which has drawn criticism from Republican lawmakers &mdash; including a threat by Senator&nbsp;Thom Tillis, a retiring North Carolina Republican and swing vote on the&nbsp;Senate Banking Committee. Tillis has said he would block new nominations to the Fed until the matter is resolved. 2) More than 2,500 people have been killed in Iranian protests that have swept the nation, activist groups said, as Tehran continued its crackdown despite President&nbsp;Trump&rsquo;s threat of action over mounting fatalities. The US-based&nbsp;Human Rights Activists News Agency&nbsp;reported 2,571 deaths as of Wednesday, up from about 500 at the start of the week and amid speculation the actual toll could be dramatically higher.&nbsp;On Tuesday, Trump urged Iranians to continue protests against the regime of Supreme Leader Ayatollah Ali Khamenei. 3) Top diplomats from Greenland and Denmark are gearing up for the test of a lifetime as they work to persuade the Trump administration to back off on its demands for the Arctic territory that threaten to break up the NATO defense alliance. Danish Foreign Minister Lars Lokke Rasmussen and his counterpart from Nuuk, Vivian Motzfeldt, will face US Vice President JD Vance and Secretary of State Marco Rubio at the White House on Wednesday, just hours after the island&rsquo;s prime minister said that if made to choose, Greenland would opt for Denmark.

Trump Defends DOJ's Powell Probe; Iran Death Toll Jumps

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/04fee8af-dde3-40e4-a5dd-b3d200abfba9/transcript

On today's podcast:
1) President Trump faced rare opposition from key Republican lawmakers after Federal Reserve Chair Jerome Powell accused the Department of Justice of launching a grand jury investigation to pressure and intimidate the central bank. Senator Thom Tillis, a key Republican on the Banking Committee who isn’t running for reelection, vowed quickly Sunday night to oppose any Trump nominees to the Fed until the matter is resolved. Other Republican senators, including former Bridgewater Associates CEO Dave McCormick, offered more measured pushback on Monday. Tillis’s threat is a potential roadblock to Trump’s plans to bend the bank to his will. Opposition from Tillis would likely deadlock any Fed nominee on the Senate Banking Committee, which is divided 13-11 between the two parties. And under current Senate rules, it takes 60 votes to successfully discharge a contentious nomination from a committee and Democratic senators are highly unlikely to come to Trump’s aid.
2) Minnesota officials are suing over the “unprecedented surge” of US immigration authorities in the state, taking the Trump administration to court days after a federal agent shot and killed a Minneapolis woman. In a lawsuit filed Monday, the state accused the Department of Homeland Security and Secretary Kristi Noem of deploying thousands of officers in Minneapolis and Saint Paul out of a “desire to punish political opponents and score partisan points.” The state is arguing that the deployment unconstitutionally violates its sovereignty and is retaliation against its Democratic-elected leadership. Minnesota officials allege the administration’s policies — such as having officers wear masks — violate state laws and that agents are illegally using excessive force and making warrantless arrests of people they suspect aren’t authorized to be in the US.
3) President Trump said he is imposing a 25% tariff on goods from countries “doing business” with Iran, ratcheting up pressure on the government in Tehran that has been rocked by widespread protests. Trump posted on social media on Monday that the new duty would be “effective immediately,” without providing details about the scope or implementation of the charges. The action has the potential to disrupt major US trading relationships across the globe. Iran’s partners include not only neighboring states, but large economies including India, Turkey and China.

On today's podcast: 1) President&nbsp;Trump&nbsp;faced rare opposition from key Republican lawmakers after&nbsp;Federal Reserve&nbsp;Chair&nbsp;Jerome Powell&nbsp;accused the&nbsp;Department of Justice&nbsp;of launching a grand jury investigation to pressure and intimidate the central bank. Senator&nbsp;Thom Tillis, a key Republican on the Banking Committee who isn&rsquo;t running for reelection, vowed quickly Sunday night to oppose any Trump nominees to the Fed until the matter is resolved. Other Republican senators, including former Bridgewater Associates CEO&nbsp;Dave McCormick, offered more measured pushback on Monday.&nbsp;Tillis&rsquo;s threat is a potential roadblock to Trump&rsquo;s plans to bend the bank to his will. Opposition from Tillis would likely deadlock any Fed nominee on the Senate Banking Committee, which is divided 13-11 between the two parties. And under current Senate rules, it takes 60 votes to successfully discharge a contentious nomination from a committee and Democratic senators are highly unlikely to come to Trump&rsquo;s aid. 2) Minnesota officials are suing over the &ldquo;unprecedented surge&rdquo; of US immigration authorities in the state, taking the Trump administration to court days after a federal agent shot and killed a Minneapolis woman. In a&nbsp;lawsuit&nbsp;filed Monday, the state accused the Department of Homeland Security and Secretary&nbsp;Kristi Noem&nbsp;of deploying thousands of officers in Minneapolis and Saint Paul out of a &ldquo;desire to punish political opponents and score partisan points.&rdquo; The state is arguing that the deployment unconstitutionally violates its sovereignty and is retaliation against its Democratic-elected leadership. Minnesota officials allege the administration&rsquo;s policies &mdash; such as having officers wear masks &mdash; violate state laws and that agents are illegally using excessive force and making warrantless arrests of people they suspect aren&rsquo;t authorized to be in the US. 3) President&nbsp;Trump&nbsp;said he is imposing a 25% tariff on goods from countries &ldquo;doing business&rdquo; with Iran, ratcheting up pressure on the government in Tehran that has been rocked by widespread protests. Trump posted on social media on Monday that the new duty would be &ldquo;effective immediately,&rdquo; without providing details about the scope or implementation of the charges. The action has the potential to disrupt major US trading relationships across the globe. Iran&rsquo;s partners include not only neighboring states, but large economies including India, Turkey and China.

Powell Probe Stirs GOP Concern; Trump Vows 25% Tariff on Iran's Trading Partners

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/00ffabb0-2d17-45e0-8e22-b3d100b06374/transcript

Instant Reaction: Will the Fed Cut Quicker After This Selloff?

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