Trump Goes Dovish On China Tariffs, Fed Pressure, Cabinet Confirmations Push

Bloomberg Audio Studios, Podcasts, Radio News. 0:00:10.240 --> 0:00:13.440 Good morning, I'm Nathan Hager and I'm Karen Moscow. Here 0:00:13.440 --> 0:00:15.160 are the stories we're following today. 0:00:15.360 --> 0:00:17.480 Karen, we begin with two words that start with tea, 0:00:17.680 --> 0:00:21.479 Trump and tariffs. President Trump says he would prefer not 0:00:21.600 --> 0:00:25.159 to impose tariffs on China. It's a softening compared to 0:00:25.280 --> 0:00:29.440 his pre election thread of sixty percent additional import taxes. 0:00:29.760 --> 0:00:32.959 Trump spoke with Fox News Channel's Handity, we have. 0:00:33.760 --> 0:00:38.040 One very big power over China, and that's tariffs, and. 0:00:37.960 --> 0:00:39.839 They don't want them, and I'd rather not have to 0:00:39.920 --> 0:00:40.239 use it. 0:00:40.800 --> 0:00:44.040 President Trump has floated the idea of ten percent tariffs 0:00:44.080 --> 0:00:46.120 on China from next month, but so far has stopped 0:00:46.120 --> 0:00:47.560 short of imposing them on Beijing. 0:00:47.640 --> 0:00:49.280 In his first days in office. 0:00:49.720 --> 0:00:52.879 Well, Nathan, President Trump reiterated as tariffs threats in a 0:00:52.960 --> 0:00:56.120 virtual speech to the World Economic Forum and Davos, and 0:00:56.160 --> 0:00:58.760 he said he'll demand that Saudi Arabia and Opek and 0:00:58.840 --> 0:01:00.440 bring down the cost of oil. 0:01:00.920 --> 0:01:04.200 You got to bring it down, which, frankly, I'm surprised 0:01:04.240 --> 0:01:06.680 they didn't do before the election. That didn't show a 0:01:06.680 --> 0:01:09.080 lot of love by them not doing it. I was 0:01:09.120 --> 0:01:12.199 a little surprised by that if the price came down, 0:01:12.280 --> 0:01:14.680 the rush of Ukraine war would end immediately. 0:01:15.160 --> 0:01:18.480 Those are marks when President Trump sent oil prices lower, 0:01:18.520 --> 0:01:21.399 though it's unclear whether Opek will heed his call, and 0:01:21.440 --> 0:01:23.880 the President said he would not stop there. 0:01:24.160 --> 0:01:27.360 With oil prices going down, I'll demand that interest rates 0:01:27.400 --> 0:01:30.680 drop immediately, and likewise they should be dropping all over 0:01:30.720 --> 0:01:32.800 the world. Interest rates should follow us. 0:01:33.240 --> 0:01:36.480 And in a surprise broadside, President Trumpec used a Bank 0:01:36.480 --> 0:01:41.160 of America CEO Brian moynihan of limiting business with conservative clients, 0:01:41.480 --> 0:01:44.160 telling him quote, I hope you start opening your bank 0:01:44.200 --> 0:01:46.919 to conservatives, because what you're doing is wrong. 0:01:47.120 --> 0:01:49.600 And on the topic of interest rates, Karen, President Trump 0:01:49.600 --> 0:01:52.560 said he'll speak with Federal Reserve Chairman Jerome Powell about 0:01:52.600 --> 0:01:56.080 lowering rates at the quote right time. The President spoke 0:01:56.120 --> 0:01:59.040 to reporters while signing executive orders in the Oval Office. 0:01:59.280 --> 0:02:01.840 I think I know interest rates much better than they do, 0:02:02.640 --> 0:02:04.680 and I think I know it's certainly much better than 0:02:06.080 --> 0:02:08.919 the one who's primarily in charge of making that decision. 0:02:09.000 --> 0:02:12.280 But no, I'm guided by them very much. But if 0:02:12.320 --> 0:02:14.240 I disagree, I will let it be known. 0:02:14.400 --> 0:02:16.720 President Trump spoke ahead of the first rate decision of 0:02:16.760 --> 0:02:18.000 twenty twenty five for J. 0:02:18.200 --> 0:02:20.600 Powell and the FED that's coming up next week. 0:02:20.680 --> 0:02:23.200 Well, Nathan, Senators may be working through the weekend to 0:02:23.240 --> 0:02:26.360 get President Trump's cabinet appointees confirmed. Do we get that 0:02:26.400 --> 0:02:28.280 story with bloomberge Dina Servetti. 0:02:28.720 --> 0:02:31.040 So far, just two of Trump's picks have cleared, the 0:02:31.080 --> 0:02:36.120 Senate Secretary of State Marco Rubio and CIA director John Ratcliffe. 0:02:36.160 --> 0:02:40.000 But Defense nominee Pete Hegsith cleared a key procedural hurdle 0:02:40.120 --> 0:02:44.280 yesterday despite opposition from two Republicans. He's set for a 0:02:44.320 --> 0:02:48.440 final confirmation vote tonight. If the Senate sticks around this weekend, 0:02:48.480 --> 0:02:51.720 it could vote on Scott Bessant for Treasury Secretary and 0:02:51.800 --> 0:02:56.720 Christy Nome to lead Homeland Security. Other nominees, including Robert F. Kennedy, 0:02:56.840 --> 0:03:00.680 Junior Tulci Gabbard, and Cash Pateel have here set for 0:03:00.800 --> 0:03:03.959 next week. Gina Cervetti Bloomberg Radio. 0:03:04.080 --> 0:03:04.840 Gina, thank you. 0:03:04.919 --> 0:03:08.400 President Trump's pledge to keep TikTok operational in the US 0:03:08.520 --> 0:03:12.600 is being handled differently by different tech giants. Bloomberg's John 0:03:12.639 --> 0:03:14.880 Tucker's here with more on that story. So John sounds 0:03:14.880 --> 0:03:16.800 like there's a little bit of confusion out there. 0:03:16.840 --> 0:03:17.480 To say the least. 0:03:17.560 --> 0:03:20.160 Nathan Apple and Google they remove the app from their 0:03:20.160 --> 0:03:23.120 respective app stores to comply with the January nineteenth van, 0:03:23.880 --> 0:03:26.960 and they've held off on relisting TikTok. The app's been 0:03:27.080 --> 0:03:30.360 unavailable for the past five days, even after Trump's pledge 0:03:30.400 --> 0:03:34.960 that the government won't enforce the law that raised potential penalties. Oracle, 0:03:35.000 --> 0:03:38.600 on the other hand, they have kept TikTok operational. Oracle 0:03:38.640 --> 0:03:43.080 provides cloud services for TikTok and lawmakers and other Washington insiders. 0:03:43.400 --> 0:03:46.880 They have raised concerns even with a nod for Donald Trump. 0:03:46.880 --> 0:03:49.480 The critics argue the company could open itself up to 0:03:49.560 --> 0:03:53.800 lawsuits from current shareholders and massive fines from a future 0:03:53.840 --> 0:03:58.160 administration that may want to retroactively enforce those penalties. There's 0:03:58.200 --> 0:04:01.280 also the possibility that Donald Trump could change his mind 0:04:01.400 --> 0:04:04.400 on enforcement. In New York, I'm John Tucker Bloomberg Radio. 0:04:04.720 --> 0:04:06.960 All right, John, thank you well. President Trump is heading 0:04:07.000 --> 0:04:11.360 to hurricane battered Western and North Carolina and wildfire ravaged 0:04:11.360 --> 0:04:15.640 Los Angeles. Meanwhile, firefighters across southern California are making progress 0:04:15.680 --> 0:04:18.599 battling new blazes that were fanned by gusty wins. The 0:04:18.640 --> 0:04:22.000 new wildfires come a week's after other blazes killed twenty 0:04:22.040 --> 0:04:26.640 eight people, displaced thousands, and destroyed more than sixteen thousand structures. 0:04:26.880 --> 0:04:29.400 A forecast of rain this weekend is offering the potential 0:04:29.480 --> 0:04:30.320 for some relief. 0:04:30.600 --> 0:04:32.320 Well, Karen Let's turn to markets now. 0:04:32.640 --> 0:04:36.400 Futures are modestly lowered this morning, following a record close 0:04:36.480 --> 0:04:38.520 for the S and P five hundred and several key 0:04:38.640 --> 0:04:41.760 stocks are on the move, watching shares of Boeing. 0:04:42.160 --> 0:04:44.599 They are down nearly two percent in early trading. 0:04:44.640 --> 0:04:47.680 The planemaker posted preliminary sales about a billion and a 0:04:47.720 --> 0:04:51.640 half dollars below estimates. Overall, Boeing, which is hit by 0:04:51.640 --> 0:04:55.279 a workers strike, loss roughly four billion dollars in the quarter. 0:04:55.720 --> 0:04:58.839 Well Nathan shares of Texas Instruments are down almost five percent. 0:04:58.960 --> 0:05:01.520 The chip maker gave it pointing Earning's forecast for the 0:05:01.560 --> 0:05:05.039 current period. Analysts say it's a sign it's still contending 0:05:05.080 --> 0:05:08.200 with still sluggish chip demand and higher cost tied to 0:05:08.240 --> 0:05:10.520 a factory expansion in Europe. 0:05:10.560 --> 0:05:13.560 Karen's shares of Eric Center down more than eight percent. 0:05:13.640 --> 0:05:17.719 The Swedish telecom missed analysts forecasts for earnings in the 0:05:17.720 --> 0:05:18.320 fourth quarter. 0:05:18.720 --> 0:05:21.599 On the flip side, Nathan Shears Burbery higher by twelve 0:05:21.600 --> 0:05:23.640 and a half percent to pick up a US demand, 0:05:23.680 --> 0:05:26.839 boosted the Trench code makers results. Sales in the America's 0:05:26.880 --> 0:05:30.880 unexpectedly climbed well, China fell less than estimated. 0:05:30.720 --> 0:05:33.919 And oh, it's staying in the Asia Pacific, Karen. The 0:05:33.920 --> 0:05:37.160 Bank of Japan raised its key policy rate to the 0:05:37.240 --> 0:05:39.800 highest level in seventeen years and took a more bullish 0:05:39.920 --> 0:05:43.320 view on the strength of inflation. Boj lifted the overnight 0:05:43.320 --> 0:05:46.200 call rate by a quarter percentage point to half percent. 0:05:46.640 --> 0:05:49.960 The decisions feeling expectations for more rate hikes and is 0:05:50.000 --> 0:05:53.040 supporting the end checking it against the dollar right now 0:05:53.080 --> 0:05:59.720 it is stronger at one fifty five point seven zero. 0:06:00.360 --> 0:06:01.719 And it's time now for a look at some of 0:06:01.680 --> 0:06:03.960 the their stories making news in New York and around 0:06:03.960 --> 0:06:06.480 the world. And for that we're joined by Bloomberg's Michael Barr. 0:06:06.600 --> 0:06:08.240 Michael, Good morning, Good morning, Karen. 0:06:08.279 --> 0:06:12.280 A federal judge in Washington State has temporarily blocked President 0:06:12.360 --> 0:06:16.559 Trump's executive order denying US citizenship to the children born 0:06:16.680 --> 0:06:20.400 from undocumented parents living in the country. The hearing didn't 0:06:20.400 --> 0:06:23.720 even take a half an hour. Judge John Kunauer said 0:06:23.800 --> 0:06:26.760 in his four decades on the bench, he'd never seen 0:06:26.880 --> 0:06:30.840 such a clear case. That Reagan appointee called President Trump's 0:06:30.960 --> 0:06:35.359 order blatantly unconstitutional and said it boggles his mind that 0:06:35.440 --> 0:06:40.560 any lawyer would unequivocally assert otherwise. President Trump pledged to 0:06:40.600 --> 0:06:40.960 fight it. 0:06:41.440 --> 0:06:43.920 Obviously will appeal if they put it before a certain 0:06:44.000 --> 0:06:46.000 judge in Seattle. 0:06:46.040 --> 0:06:50.760 I guess right, and there's no surprises with that judge. 0:06:51.120 --> 0:06:54.359 Loyola Law School professor Jessica Levinson. 0:06:54.480 --> 0:06:57.280 For a judge at a temporary restraining order to say 0:06:57.560 --> 0:07:01.640 blatantly unconstitutional, it is where emphasizing that you don't typically 0:07:01.720 --> 0:07:04.839 see that type of language at this initial stage. 0:07:05.040 --> 0:07:08.919 Professor Levinson spoke to CBS. Trump's order aims to block 0:07:09.000 --> 0:07:12.760 the issuance of passports and Social Security numbers to children 0:07:12.800 --> 0:07:17.600 born to undocumented women or on temporary visas unless the 0:07:17.680 --> 0:07:20.360 father is a US citizen or a Green card holder, 0:07:20.920 --> 0:07:24.480 and ice raid conducted at a Newark, New Jersey business 0:07:24.520 --> 0:07:28.320 as the city's mayor outraged, immigration officials took away three 0:07:28.320 --> 0:07:32.360 workers who couldn't prove citizenship while working at the Ocean 0:07:32.600 --> 0:07:37.080 Seafood Depot in Newark. The owner of that business. Luis 0:07:37.200 --> 0:07:39.440 Ganoda believes this was a step too far. 0:07:40.040 --> 0:07:42.800 I feel that we have to be a country law, 0:07:42.840 --> 0:07:43.960 but go off. 0:07:43.880 --> 0:07:46.600 To bad people, not working people. Visit people, these a 0:07:46.680 --> 0:07:48.720 family people? Is it people that would show up to 0:07:48.760 --> 0:07:49.480 work every day. 0:07:50.000 --> 0:07:53.280 The raid yesterday was part of a nationwide enforcement following 0:07:53.320 --> 0:07:56.560 President Trump's executive order. One of the people taken into 0:07:56.600 --> 0:07:59.880 custody was a US veteran. In a statement, Newark Mayor 0:08:00.280 --> 0:08:03.760 Baraka called it egregious and a violation of the Fourth Amendment. 0:08:04.000 --> 0:08:07.600 Baraka insists the proper warrant was not presented. President Trump 0:08:07.680 --> 0:08:10.360 has ordered the release of thousands of classifying the governmental 0:08:10.400 --> 0:08:14.000 records related to the assassination of President John F. Kennedy. 0:08:14.280 --> 0:08:18.560 The executive order Trump signed yesterday also aims to declassify 0:08:18.680 --> 0:08:22.640 records relating to the assassinations of Senator Robert F. Kennedy 0:08:22.680 --> 0:08:25.679 and Martin Luther King Jr. Global News twenty four hours 0:08:25.680 --> 0:08:27.960 a day and whenever you want it with Bloomberg News Now. 0:08:28.360 --> 0:08:31.040 Michael Barn, This is Bloomberg Karen Uncle Barr. 0:08:31.120 --> 0:08:38.360 Thank you time now for the Bloomberg Scores update, brought 0:08:38.400 --> 0:08:41.520 to you by try Stan Outy. Here's John Stanshauer John. 0:08:41.320 --> 0:08:42.920 Good morning, Good morning, Karen Novak. 0:08:42.960 --> 0:08:45.920 Djokovich is at ten for an eleventh Australian Open title, 0:08:45.920 --> 0:08:49.320 a record breaking twenty fifth Grand Slam, and then suddenly 0:08:49.360 --> 0:08:52.720 in Melbourney at upset Carlos Alcarez in the quarterfinals despite 0:08:52.760 --> 0:08:55.520 taking an injury time out getting his left leg taped 0:08:55.559 --> 0:08:56.439 up of the semis. 0:08:56.600 --> 0:08:57.880 He took on alex Zavera. 0:08:57.920 --> 0:08:59.959 They've played a long and tight first sets of Vera 0:09:00.120 --> 0:09:02.360 won a tiebreaker and then the match was over. 0:09:03.360 --> 0:09:07.200 Djokovic was struggling. He didn't know how Battley Patrick he did. 0:09:07.679 --> 0:09:09.880 And the cloud is absolutely stunted. 0:09:09.880 --> 0:09:10.320 Stunned. 0:09:10.400 --> 0:09:13.640 Lady Shanny, his name was seconds. 0:09:13.200 --> 0:09:17.040 Ago is he was very much in that tipe breaking 0:09:17.440 --> 0:09:19.480 second did he missed the volley. 0:09:19.200 --> 0:09:20.160 To lose the set. 0:09:20.600 --> 0:09:21.880 He came forward to shake. 0:09:21.679 --> 0:09:24.600 Hands and this is for disappointing the drive at twenty 0:09:24.600 --> 0:09:26.280 five NS right here on ESPN. 0:09:26.360 --> 0:09:28.800 Djokovic said later due to the muscle tear in the leg, 0:09:28.840 --> 0:09:30.559 he would not have been able to finish even had 0:09:30.559 --> 0:09:31.640 he won that first set. 0:09:31.679 --> 0:09:32.400 Soaver evern the. 0:09:32.320 --> 0:09:33.800 Final will take you on the winner of the match 0:09:33.880 --> 0:09:36.400 going on now. Top seed Yannick Sinner just won a 0:09:36.440 --> 0:09:39.960 first set tiebreaker from the Herd, serving young American Ben Shelter. 0:09:40.040 --> 0:09:43.320 The Rangers on November nineteenth were twelve and four. Rest 0:09:43.320 --> 0:09:46.120 of twenty twenty four they went four and fifteen, but 0:09:46.200 --> 0:09:48.240 since the new year began there are eight, one and 0:09:48.360 --> 0:09:50.120 three very much back in the playoff picture. 0:09:50.160 --> 0:09:51.760 It was easy at the Garden. 0:09:51.840 --> 0:09:54.640 Sixty one rout of Philadelphia was six different goal scorers. 0:09:54.679 --> 0:09:56.640 The capital is a top the NHL. They won three 0:09:56.679 --> 0:09:59.640 nothing at Seattle career goal number eight seventy five for 0:09:59.679 --> 0:10:03.120 a Solovashkian. Bruins won two nothing over Ottawa Celtics in LA. 0:10:03.559 --> 0:10:06.360 Lost to the Lakers once seventeen ninety six Spurs meet 0:10:06.360 --> 0:10:10.360 the Pacers in Paris. NBA All Stars starters announced some 0:10:10.400 --> 0:10:13.200 familiar names Lebron James, Kevin durand Steph Curry, and two 0:10:13.280 --> 0:10:16.600 next were named Jalen Brunston and Karl Anthony Towns. Thirty 0:10:16.640 --> 0:10:18.520 nine year old Liam Cohen is the new coach of 0:10:18.520 --> 0:10:21.959 the Jacksonville Jaguars. He had been coaching Tampa Bay's offense. 0:10:22.000 --> 0:10:26.040 The Cowboys said to be moving closer to promoting Brian Schottenheimer, 0:10:26.120 --> 0:10:29.440 Dallas's current offensive Cornada. The Atlanta Braves have signed free 0:10:29.480 --> 0:10:32.480 agent outfielder Jerkson Profar just had his best season with 0:10:32.640 --> 0:10:33.320 San Diego. 0:10:33.400 --> 0:10:35.200 John Stanshallen Bloomberg. 0:10:34.720 --> 0:10:41.559 Sports Coast to Coast on Bloomberg Radio, nationwide on Sirius Exam, 0:10:41.679 --> 0:10:44.520 and around the world on Bloomberg dot Com and the 0:10:44.559 --> 0:10:47.680 Bloomberg Business app. This is Bloomberg Daybreak. 0:10:47.840 --> 0:10:49.360 Good morning. I'm Nathan Hager. 0:10:49.440 --> 0:10:54.040 President Trump is calling for lower oil prices, lower interest rates, 0:10:54.040 --> 0:10:57.200 and higher tariffs in a virtual address to the global 0:10:57.240 --> 0:10:59.440 elites gathered at the World Economic Forum. 0:10:59.520 --> 0:11:03.360 In my message to every business in the world is 0:11:03.440 --> 0:11:06.360 very simple. Come make your product in America and we 0:11:06.440 --> 0:11:09.800 will give you among the lowest taxes of any nation 0:11:10.120 --> 0:11:10.640 on Earth. 0:11:11.320 --> 0:11:12.200 We're bringing them. 0:11:12.040 --> 0:11:15.760 Down very substantially, even from the original Trump tax cuts. 0:11:15.920 --> 0:11:18.600 And the President reiterated that message at the Oval Office 0:11:18.640 --> 0:11:21.319 and in an interview with Fox News Channel. Joining us 0:11:21.320 --> 0:11:25.760 now is doctor Lindsay Newman, geopolitical risk analyst and calumnist 0:11:26.080 --> 0:11:28.960 at G zero Media. Thanks for being with us this morning, 0:11:29.400 --> 0:11:33.520 doctor Newman. The President is reiterating these tariff threats at 0:11:33.520 --> 0:11:36.720 the same time, though saying in that Fox interview that 0:11:36.960 --> 0:11:40.640 he would rather not impose tariffs on China. Where do 0:11:40.720 --> 0:11:43.679 you see the message from the President when it comes 0:11:43.720 --> 0:11:48.319 to the potential for trade wars with adversaries and allies 0:11:48.360 --> 0:11:49.199 at this point. 0:11:49.920 --> 0:11:52.480 Thanks Nathan, thank you for having me on again. It's 0:11:52.520 --> 0:11:54.959 a great question around what is the signal and what 0:11:55.080 --> 0:11:58.200 is the noise here. As you said, he said in 0:11:58.240 --> 0:12:01.800 his Davos remarks yesterday that he thinks the relationship with China, 0:12:01.880 --> 0:12:04.320 he expects it to be very good. He wants a 0:12:04.360 --> 0:12:06.720 fair relationship, he said. He doesn't need to be phenomenal, 0:12:06.800 --> 0:12:09.640 but he does want it to be fair. And as 0:12:09.679 --> 0:12:12.079 you said, he said he would rather not He knows 0:12:12.160 --> 0:12:14.360 China doesn't want those tariffs and posted and he himself 0:12:14.360 --> 0:12:18.040 would rather not impose those tariffs. But he also went 0:12:18.040 --> 0:12:20.760 on to then say it is a tremendous point of 0:12:20.840 --> 0:12:24.000 power or a tremendous point of leverage. We're hearing this 0:12:24.120 --> 0:12:27.160 number right now, around ten percent tariffs to be imposed 0:12:27.160 --> 0:12:29.640 on China, potentially to be imposed on China on February first, 0:12:29.800 --> 0:12:32.720 a far cry from the sixty to one hundred percent 0:12:33.240 --> 0:12:36.600 tariffs that he talked about during the campaign trail. But 0:12:36.679 --> 0:12:38.920 I think we need to be cautious here. And here's 0:12:39.040 --> 0:12:41.800 my one indicator that I would suggest to watch already, 0:12:41.960 --> 0:12:44.719 which is that in his executive order for trade, the 0:12:44.800 --> 0:12:48.599 sweeping America First Trade Policy Executive Order, he has instructed 0:12:49.280 --> 0:12:52.360 his team to not only investigate all and review all 0:12:52.720 --> 0:12:55.760 potential areas where tariffs could be warranted, but he's also 0:12:55.800 --> 0:12:59.240 setting up this external reserve services. You don't set up 0:12:59.240 --> 0:13:01.840 an organization to collect tariffs if you're not looking to 0:13:01.880 --> 0:13:02.680 collect tariffs. 0:13:02.960 --> 0:13:05.120 The President also said he was going to demand that 0:13:05.120 --> 0:13:09.400 Saudi Arabia and OPEK bring down the cost of oil, 0:13:09.960 --> 0:13:13.960 couching it as the idea that it could help bring 0:13:14.000 --> 0:13:16.520 the war in Ukraine to a more rapid end. 0:13:16.600 --> 0:13:18.720 What did you make of that comment. 0:13:19.640 --> 0:13:22.359 It was a really interesting one because most of yesterday's 0:13:22.360 --> 0:13:25.480 address by Trump at the World Economic Forum was really 0:13:25.520 --> 0:13:28.280 just a highlight reel of what his very young administration 0:13:28.320 --> 0:13:32.200 has already done in this first week, including taking responsibility 0:13:32.240 --> 0:13:34.720 for that ceasefire agreement in Israel, and then of course 0:13:34.760 --> 0:13:37.480 all these executive orders, which he touched on everything from 0:13:38.160 --> 0:13:41.600 inflation to deregulation efforts, immigration, etc. But then he broke 0:13:41.640 --> 0:13:44.200 some news, as you're saying here about this energy point, 0:13:44.240 --> 0:13:46.560 where he's saying he's going to ask the Kingdom and 0:13:46.720 --> 0:13:49.959 Obak to bring down oil pricing. We saw since that 0:13:50.600 --> 0:13:53.760 discussion he in fact, since this point that he raised it, 0:13:53.800 --> 0:13:56.160 oil did come down. And as you said, he even 0:13:56.240 --> 0:13:59.800 connected very interestingly the ongoing conflict in Russian Ukraine with 0:14:00.120 --> 0:14:01.880 height and oil price is saying he was even a 0:14:01.880 --> 0:14:04.080 bit if the sense was that he was a bit 0:14:04.200 --> 0:14:07.360 miffed that the prices haven't come down, because if they would, 0:14:07.440 --> 0:14:09.720 he thinks that the war would end immediately, and he's 0:14:09.760 --> 0:14:13.160 been very clear about how this war needs to end immediately. 0:14:13.679 --> 0:14:15.640 This relationship is one that we're going to have to 0:14:15.640 --> 0:14:18.440 watch closely. We should be watching closely between the US 0:14:18.520 --> 0:14:22.640 and Saudi Arabia, Between Donald Trump and MBS, we know, 0:14:22.720 --> 0:14:25.800 for example, that they had that the first foreign Leader's 0:14:25.840 --> 0:14:29.400 call was with MBS, where they talked about the kingdom's 0:14:29.640 --> 0:14:31.960 ambitions over the next years and next four years and 0:14:32.000 --> 0:14:35.880 how they can collaborate together. I wouldn't be surprised if, 0:14:36.440 --> 0:14:39.320 yet again, that is Donald Trump's first foreign trip. 0:14:39.960 --> 0:14:43.840 And how about the relationship between President Trump and global 0:14:43.880 --> 0:14:46.440 central banks. We heard the President in the Oval Office 0:14:46.520 --> 0:14:48.920 yesterday saying that he knows interest rates better than Jay 0:14:48.920 --> 0:14:51.880 Powell does. That he at the Davos forum called for 0:14:52.840 --> 0:14:55.520 central banks around the world to follow the US lead 0:14:55.560 --> 0:14:56.720 and lowering interest rates. 0:14:56.720 --> 0:14:58.600 Do you see a threat to FED independence? 0:15:00.000 --> 0:15:02.240 This is classic Donald Trump. This is nothing new. We 0:15:02.240 --> 0:15:05.680 saw it during first his first term where he also 0:15:06.280 --> 0:15:10.560 had these barbs around interest rates. In Powell, really, I 0:15:10.600 --> 0:15:13.600 would not expect anything sort of substantive there. We can 0:15:13.640 --> 0:15:17.000 expect more of that same rhetoric, and it is a 0:15:17.040 --> 0:15:20.000 point of leverage that he looks to apply to make 0:15:20.040 --> 0:15:22.720 it clear to both the domestic and global audience that 0:15:23.120 --> 0:15:25.160 he's going to ask for what he expects, and he's 0:15:25.200 --> 0:15:28.000 going to make clear what he expects, and he expects 0:15:28.040 --> 0:15:30.360 to see interest rates come down both further at home 0:15:30.440 --> 0:15:34.120 and in the global in the global economy. But Powell 0:15:34.120 --> 0:15:37.200 has been very clear about holding the line and domestic 0:15:37.240 --> 0:15:38.040 FED independence. 0:15:38.400 --> 0:15:40.280 Just thirty seconds left, He's going to ask for what 0:15:40.320 --> 0:15:42.280 he wants. Do you expect the world to answer? 0:15:44.000 --> 0:15:44.240 Well? 0:15:44.400 --> 0:15:47.560 So far, we've seen a ceasefire agreement in Israel that 0:15:47.720 --> 0:15:51.560 was at a logjam for many, many months on the 0:15:51.560 --> 0:15:55.000 Biden administration. It's this way in which he will intend 0:15:55.000 --> 0:15:57.960 to be quite ambitious, sort of flooding the field with 0:15:58.480 --> 0:16:02.400 his asks using both Caroden sticks this time around in 0:16:02.440 --> 0:16:05.000 which he will He will reshape the world. I think 0:16:05.040 --> 0:16:07.040 so in his vision. 0:16:07.360 --> 0:16:10.800 This is Bloomberg Daybreak, your morning podcast on the stories 0:16:10.880 --> 0:16:13.880 making news from Wall Street to Washington and beyond. 0:16:14.160 --> 0:16:16.560 Look for us on your podcast feed by six am 0:16:16.600 --> 0:16:20.000 Eastern each morning, on Apple, Spotify, or anywhere else you listen. 0:16:20.200 --> 0:16:23.040 You can also listen live each morning starting at five 0:16:23.080 --> 0:16:25.800 am Wall Street Time on Bloomberg eleven three to zero 0:16:25.800 --> 0:16:28.720 in New York, Bloomberg ninety nine to one in Washington, 0:16:28.760 --> 0:16:32.720 Bloomberg ninety two nine in Boston, and nationwide on serious 0:16:32.920 --> 0:16:34.480 XM Channel one twenty one. 0:16:34.880 --> 0:16:37.600 Plus listen coast to coast on the Bloomberg Business app 0:16:37.640 --> 0:16:40.480 now with Apple CarPlay and Android auto interfaces. 0:16:40.680 --> 0:16:43.720 And don't forget to subscribe to Bloomberg News Now. It's 0:16:43.720 --> 0:16:46.440 the latest news whenever you want it in five minutes 0:16:46.560 --> 0:16:49.680 or less. Search Bloomberg News Now and your favorite podcast 0:16:49.680 --> 0:16:53.880 platform to stay informed all day long. I'm Karen Moscow. 0:16:53.640 --> 0:16:54.640 And I'm Nathan Hager. 0:16:54.760 --> 0:16:56.840 Join us again tomorrow morning for all the news you 0:16:56.880 --> 0:16:59.640 need to start your day right here on Bloomberg Daybreak.