Marker 01

Your morning briefing. The news you need in just 15 minutes. 
On today's podcast:
1) President Biden touts economic progress 
2) Jay Powell doubles down on more rate hikes 
3) Credit Suisse will pay bonuses in installments 

Your morning briefing. The news you need in just 15 minutes. On today's podcast: 1) President Biden touts economic progress 2) Jay Powell doubles down on more rate hikes 3) Credit Suisse will pay bonuses in installments

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

Jeers for Biden and Banker Bonus Woes

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/eb75c946-6938-4618-8f9d-afa300ab6ef3/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

On today's podcast:
1) Federal Reserve Chair Jerome Powell said the US central bank had been served grand jury subpoenas from the Justice Department threatening a criminal indictment, a dramatic escalation of the Trump administration’s attacks on the institution. In a forceful written and video statement released Sunday evening, Powell said the action was related to his June congressional testimony on ongoing renovations of the Fed’s headquarters. But he said the move “should be seen in the broader context of the administration’s threats and ongoing pressure.” In an interview with NBC News on Sunday, President Trump denied having any knowledge of the DOJ’s investigation into the central bank.
2) Top diplomats from Denmark and Greenland will meet US Secretary of State Marco Rubio in Washington DC on Wednesday, TV2 reports. Denmark’s Foreign Minister Lars Lokke Rasmussen and his Greenlandic counterpart Vivian Motzfeldt are set to attend the meeting, the Danish broadcaster says, citing a calendar from the US Department of State, which also notes that changes to the schedule may occur. Denmark is banking on the meeting in Washington to defuse President Trump’s renewed push on Greenland and to help reset strained ties with the US over the strategic island.
3) Iran’s Foreign Minister said security forces have “full control” of the country after two weeks of ongoing upheaval, accusing Israel and the US of fomenting the nationwide protests in which hundreds of people have been killed. Abbas Araghchi repeated claims by the Iranian government that “rioters and terrorists” had killed police and civilians and destroyed public property using “daesh-style violence,” referring to the Arabic acronym for Islamic State. Protests in Iran erupted on December 28th after a sudden collapse in the value of the currency. More than 540 have been killed in the protests and over 10,000 arrested, according to the Human Rights Activist News Agency, which is tracking demonstrations in 186 cities across Iran’s 31 provinces.

On today's podcast: 1) Federal Reserve&nbsp;Chair&nbsp;Jerome&nbsp;Powell&nbsp;said the US central bank had been served grand jury subpoenas from the Justice Department threatening a criminal indictment, a dramatic escalation of the Trump administration&rsquo;s attacks on the institution. In a forceful written and video&nbsp;statement&nbsp;released Sunday evening,&nbsp;Powell&nbsp;said the action was related to his June congressional testimony on ongoing renovations of the Fed&rsquo;s headquarters. But he said the move &ldquo;should be seen in the broader context of the administration&rsquo;s threats and ongoing pressure.&rdquo; In an interview with NBC News on Sunday, President&nbsp;Trump&nbsp;denied having any knowledge of the DOJ&rsquo;s investigation into the central bank. 2) Top diplomats from Denmark and Greenland will meet US Secretary of State&nbsp;Marco Rubio&nbsp;in Washington DC on Wednesday, TV2&nbsp;reports. Denmark&rsquo;s Foreign Minister&nbsp;Lars Lokke Rasmussen&nbsp;and his Greenlandic counterpart Vivian Motzfeldt are set to attend the meeting, the Danish broadcaster says, citing a calendar from the US Department of State, which also notes that changes to the schedule may occur. Denmark is banking on the meeting in Washington to defuse President&nbsp;Trump&rsquo;s renewed push on Greenland and to help reset strained ties with the US over the strategic island. 3) Iran&rsquo;s Foreign Minister said security forces have &ldquo;full control&rdquo; of the country after two weeks of ongoing upheaval, accusing Israel and the US of fomenting the nationwide protests in which hundreds of people have been killed.&nbsp;Abbas Araghchi repeated claims by the Iranian government that &ldquo;rioters and terrorists&rdquo; had killed police and civilians and destroyed public property using &ldquo;daesh-style violence,&rdquo; referring to the Arabic acronym for Islamic State. Protests in Iran erupted on December 28th after a sudden collapse in the value of the currency. More than 540 have been killed in the protests and over 10,000 arrested, according to the Human Rights Activist News Agency, which is tracking demonstrations in 186 cities across Iran&rsquo;s 31 provinces.

Fed Served With DOJ Subpoenas; Iran Says Protests Quelled After Hundreds Reported Killed

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/41bc2a81-d0e6-4b98-9edb-b3d000b14427/transcript

Jeers for Biden and Banker Bonus Woes

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