Winter Storm Pummels East Coast; Dems Threaten Shutdown After Latest Minneapolis Killing

Bloomberg Audio Studios, Podcasts, Radio News.
Good morning.
I'm Nathan Hager and I'm Karen Moscow. Here are the
stories we're following today.
Karen, we began with a powerful winter storm that pounded
a large part of the country. For the very latest
we bring in Bloomberg meteorologist Craig Allen, Craig tell us
it's over.
Yes, Nathan, it's basically over. The core of the storm
is over. The main precipitation in the form of snow, sleet,
and ice, is continuing over upstate New York and across
portions of Maine. Boston is still under a winter storm
warning this morning because of leftover ice, in other words,
a little bit of freezing rain and freezing drizzle Washington,
d C as well the New York City area. There's
nothing more right now than a cold weather advisory. Same
thing on down towards Washington, d C. The problem here
is that whatever we picked up over the weekend is
not going anywhere fast. It was approximately a five to
ten inch snowfall for DC and Baltimore, ten to fifteen
as you know around New York City, and fifteen to
twenty up towards Boston and there were some sections of
New England that picked up over twenty inches of snow,
came close to about two feet. So now you've got
this ice that's sitting on top of the snow, and
it's just going to get harder and harder to move.
So any kind of clearing during the day today or
the next several days is going to be very, very tough.
All right, Bloomberg meteorologist Craig Allen, thank you. Of course,
we'll be checking in with you throughout the morning, and travel,
particularly through the air, continues to be a major headache
this morning. Bloomberg's Lisa Matteo continues our team coverage in
New York. Lisa, good morning, Yeah.
Good morning, Karen. Airlines in the US, they are just
trying to get their schedules back on track, but it
is a top bottle ahead. After that winter storm. It
caused the most flight cancelations since the pandemic. Now, according
to flight Aware, more than thirty six hundred flights they
were canceled as of this morning, and that's down from
the roughly eleven six hundred cancelations on Sunday. You have
airlines like United, Jet, Blue, Delta, they've all said they're
looking to get back up and running.
But as you've been hearing from Craig Allen.
The extremely cold air, icy conditions at airports, along the
roads and highways, that's going to continue to make travel difficult.
US power grids they're also being put to the test.
More than eight hundred thousand homes and businesses nationwide have
been without electricity in New York. Lisa Matteo, Bloomberg Radio.
All right, Lisa, thank you well. Now we want to
get to the latest from Minnesota, where two very different
messages are emerging after a Border Patrol agent killed an
ICU nurse in Minneapolis over the weekend. Democratic Governor Tim
Waltz is renewing his call for ICE agents to leave
his state after the shooting death of Alex Preddy.
What side do you want to be on the side
of an all powerful federal government that can kill, injure
menace and kidnapped citizens off the streets, or on the
side of a nurse at the VA hospital who died
bearing witness to such government.
Minnesota Governor Tim Waltz is accusing federal authorities of selling
Pretty's name by saying he brandished a weapon and violently
resisted attempts to disarm him. Border Patrol Commander at Large
Greg Bovino says the investigation will continue.
I wasn't there wrestling that assaulted subject, that was assaulting
Border Patrol agents.
I wasn't there wrestling him myself, so I'm not going
to speculate. Border Patrol Commander Greg Bovino and Governor Tim
Waltz held competing news conferences yesterday. Video shot by bystanders
showed Pretty with a phone in his hand as he
stepped between an agent and a woman on the street.
During the scuffle, agents appeared to find a nine millimeter
semi automatic handgun on Pretty, then open fire after he
was disarmed. Pretty was licensed to carry a concealed weapon Nathan.
After Pretty's killing, more than sixty CEOs of Minnesota based
companies are calling for an immediate de escalation of tensions
between federal, state and localist way. The Minnesota Chamber of
Commerce shared a letter signed by chief executives from Target,
Best Buy, Landa Lakes, Cargil, General Mills, United Health, the
Minnesota Vikings, and Timberwolves. The letter says Minnesota's business community
has been working every day behind the scenes with authorities
to advance real solutions, and.
The shooting is reverberating in Washington, Karen. Senate Democrats, led
by Chuck Schumer, are calling for Department of Homeland Security
funds to be stripped out of a giant funding package
that has to pass by the end of the week
to prevent a government shutdown. Democratic Senator Amy Klobashar of
Minnesota says she won't support the bill as is.
We must have transparent investigations not only of the shooting
of alex Pride, but of course the shooting of Renee Good,
two people with no criminal record.
Senator Amy Klobashar appeared on NBC's Meet the Press, heard
Sundays on Bloomberg Radio. Senate Republicans plan to reject democrats
demands and pass the bill as is. And while they
have shown support for I and the Border Patrol before
that support maybe wavering. House Oversight Chairman James Comer is
suggesting the President Trump send agents to another city and
let Minneapolis decide how to proceed on immigration. Several other
Republicans are calling for a full investigation into alex Pretty's shooting.
Well it's turned a foreign policy now, Nathan. President Trump's
latest tariff threats could impact trade with Canada and Mexico,
and Bloomberg's Monica Rix explains.
Why President Trump threatened Canada with one hundred percent tariffs
this weekend if it reaches a trade deal with China
that would slash tariffs on Chinese electric cars in exchange
for lower tariffs on Canadian farm products. Treasury Secretary Scott
Besson slammed it too.
We count like Canada would come an opening that the
Chinese pour their cheap goods into the US.
Besson on ABC's This Week A deal between Canada and
China could mean months of all little talks as the US, Canada,
and Mexico prepared to review their trade pack this summer.
Many goods under that agreement are tariff free. Monica Ricks
Bloomberg Radio, All.
Right, Monica, thank you. Turning to the markets now, the
dollar is weakening and gold is once again soaring to
new heights. Let's bring in Bloomberg's John Tucker with more John.
Yeah, Nathan.
Gold smashing through five thousand dollars in ounce right now
fifty one nineteen. It is being fed by President Trump's
reshaping of international relations. Gold's dramatic gains underscores historic role
as a gauge of fear in the markets. Now fresh
from its best annual performance since nineteen seventy nine, it's
risen about eighteen percent so far. This here largely due
to the so called debasement trade, a swelling public debt
that has become another key pillar of Gold's rally. Meantime,
the dollar has fallen almost two percent in six sessions.
There is speculation the US may assist Japan in efforts
to boost the end and this is just adding to
worries over federal reserve independence and President Trump's erratic policy making.
Silver also spiking to a record. It was above one
hundred and ten dollars an ounce, gaining for a third day.
In New York Ime John Tucker Bloomberg Radio, All right.
John, thank you. Meanwhile, Wall Street's focus shifts to tech
earnings this week, and we get a preview with Bloomberg's
Charlie Pellett.
Meta Platforms and mag seven peers, Apple, Tesla, and Microsoft
will once again be scrutinized for how well their heavy
AI spending is translating into profits. Bob Dahl is the
CIO of Crossmark Global.
As long as Earning's expectations continue.
To move higher, which they have been, and the FED
is that worst neutral may be positive for the markets.
Stock's going to be fine.
Also reporting this week, Defense names RTX, lockeed Martin, and
Northrop Grumman, and we'll be hearing from GM, UPS, IBM,
and Starbucks in New York. Charlie Pellett's Bloomberg Radio.
Time Now for look at some of the other stories
making news in New York and around the world, and
for that rejoine by Bloomberg's Michael Barr.
Michael, good morning, Good morning Karen. There appears to be
some movement in the two week old strike with the
New York City nurses. The New York State Nurses Association
says they are close to an agreement on maintaining health
benefits at two hospitals. The nurses union says Mount Sinai
and New York Presbyterian have agreed to keep the nurses
current health plan. Montefior Hospital System says healthcare benefits were
never on the bargaining table. The man credited with helping
to eradicate smallpox has died. Doctor William Fagy, led the
CDC in the late seventies and early eighties and helped
found the Task Force for Global Health. But his real
legacy lives on in the fact that he ripped the
world of smallpox. Editor at large for KFF Health, doctor
Celine Gounder called him a giant of public health.
What set Bill Fagie apart wasn't just his brilliance, it
was his optimism. He believed that even the hardest problems
could be solved, not through wishful thinking, but through action,
through facing uncomfortable facts early, trusting science, and sticking with
the work even when things looked worse before they got better.
The kff's doctor Seline Gownder doctor William Fegi was eighty nine.
Ukrainian President Voladimir Zelenski set a security agreement with the
US as one hundred percent ready. Zelenski said Ukraine is
waiting for its partners to set a signing date. Speaking
Sunday at trilateral talks with Russia and the US in
Abu Dhabi, Zelenski emphasized Ukraine's push for European Union membership
by twenty twenty seven as an economic security guarantee. He
also acknowledged fundamental differences with Russia over territorial integrity. Despite
brutally cold weather, thousands in Raleigh, North Carolina, turned out
this weekend to the state capitol to see Buddhist monks
during their Walk for Peace stop this weekend. Thousands of
people were eager to see the monks walk for peace.
Just knew that this was something that I felt like
I needed to do. I'm gonna get all.
Emotional digits were in the teens, but fans say the
message of peace was important to hear. Global news twenty
four hours a day and whenever you want it with
Bloomberg News. Now, I'm Michael Barr, and this is Bloomberg Karen.
Thanks Michael.
Time now for our Bloomberg Sports update, and for that
we bring in John stash Hour.
Thanks Karen'll be the Patriots and the Seahawks in Super
Bowl sixty, New England won ten to seventh and Denver
game played in a second half driving snowstorm. Broncos had
to play without their starting quarterback Bow Nicks. Jared Stidham
had an early touchdown pass but across the football and
a late interception. The Seahawks beat the Rams thirty one
to twenty seven. Both quarterbacks Matthew Stafford and Sam Darnold
through three touchdown passes. Scottie Scheffler starts the year by
winning the American Express Golf by four shots. That's your
Bloomberg Sports update.
Stay with us.
More from Bloomberg day Break coming up after this.
Coast to coast on Bloomberg Radio, nationwide on Sirius XM,
and around the world on Bloomberg dot Com and the
Bloomberg Business app. This is Bloomberg Daybreak and.
It's five fourteen on Wall Street. Good Morning, I'm Karen
Moscow alongside Nathan Hager, and a massive winter storm dump sleet,
freezing rain and snow across much of the US, and
we want to get the very latest. It's Bloomberg Meteorologist
Rob Carolyn Rob Good morning. Is the worst of the
storm behind us?
Yes, it is, Karen. The storm system now moving off
the coast of New England and out into the Atlantic.
The good news is the really heavy snow we were
looking at yesterday and last night from parts in the
Mid Atlantic States through the Northeast has ended. There's some
residual snow right now over northern New York State, northern
New England that will continue to fall today. A little
bit of light snow over portions of southern New England
later on this morning and into the afternoon, but the
bulk of the accumulating snow is done, as is the
sleet and freezing rain. Still have a little bit of
freezing drizzles to miss this morning down over some of
the higher areas in western North and South Carolina, so
it's still slippery there, but the conditions across the southeast
will improve today as the coal front moves offshore and
the precipitation heads out into the Atlantic.
Rob can we talk about some of those accumulations. What
areas were heard ast hit well?
Outside southern New England. That's where we've seen the highest
amount so far, Karen into the areas to the north
of New York City. Boston reporting sixteen point seven inches
of snow at Logan Airport. Central Park was just under
twelve inches of snow and sleet. The Washington area we
saw anywhere from six to ten inches of snow and sleet.
And the real big problem in the south central United
States was over an inch of freezing rain falling in
parts of Mississippi. The problems around Oxford and Holly Springs
really bad. There's also been some icing over northeastern Georgia
and the western Carolinas.
And what about the dig out and a possible thaw.
Are we going to get any relief.
There's no thaw in sight, and that includes all of
the areas down into Texas, the Gulf Coast, North Florida.
We're looking at cold weather advisories and cold extreme cold
weather warnings in effect all the way as far south
as brown Brownsville, Texas, Pensacola, Panama City, and then we
have them into the eastern United States as well. It
looks like temperatures are going to remain below normal east
of the Rockies for the entire week.
All right, Well, Bloomberg meteorologist Rob Carolyn will be sure
to keep in touch with you then throughout the week.
Thank you so much, Nathan.
All right, Karen, thank you. And along with the deep freeze,
deep tensions are settling in in Minnesota. After another deadly
shooting of a US citizen during immigration enforcement in Minneapolis,
Minnesota Governor Tim Waltz says he has a message for
President Trump after the killing of Alex Pretty.
We believe in law and order in the state. We
believe in peace and we believe that Donald Trump needs
to pull these three thousand untrained agents out of Minnesota
before they kill another person.
That was Minnesota Governor Tim Walt's at a news conference yesterday.
And for more, we're joined by Bloomberg Suzanne Lynch. Suzanne,
good morning. We've been hearing very different narratives about what
happened on Saturday and a lot of video being shared
by bystanders. So what do we know about this latest
shooting in Minneapolis?
Good morning, good morning.
Well, what we do know is that there is growing
public disquiet and public outrage about what's happening in Minneapolis
now with the second death there at the hand of
federal agents. And I think it's significant politically because we
are seeing a number of Republicans coming out and criticizing
the administration about these actions.
Now.
Look, it's important to stress it's not a full break
with Donald Trump on this issue, but we have heard
some voices on the Republican side criticizing or at least
asking for more clarity on what happened. So we've got
people like the New York Republican Andrew Garberino. The he's
the chair of the Householdland Security Panel, an important committee
has requested public testimony from top immigration officials on this.
Other Republicans you know, who've, in fairness, have already broken
with Trump on some matters, have again expressed their views
on this. So the Texan Republican Michael McCall, he said,
we need to get to the bottom of these incidents
to maintain Americans confidence in our justice system. So, really
this is emerging as a serious political headache for the administration.
Well, have we gotten any response from the Trump administration,
from President Trump himself to some of these calls from
congressional Republicans.
Yeah.
So on Sunday, the President did a short interview with
the Wall Street Journal. Now he did not say he
did not take a stance on whether he think the
federal agents were right in their actions, but he said
they were going to get to the bottom of this,
and he said everything would be looked into. Now, I
think this is an indication that Donald Trump wanted to
come out publicly on this and try and perhaps quell
some of the growing disquiet over this issue. Now, whether
that will be enough to plaic hay things politically, Let's see,
Because we've had a lot of statements from members of
his administration calling out blaming this victim, this man, for
what happened. Donald Trump obviously moving back from that in
some way in those comments to the Wall Street Journal Sunday.
Well to that point, we heard, at least the initial
response to this shooting that the person there, Alex Pretty,
violently resisted agents, that he brandished a firearm. There's some
questions about that as well, in terms of what we
saw in the video, apparently showing a phone as he
sipped stood between agents and a woman. But what does
this mean for the gun debate in Washington, d C.
This idea that Alex Pretty, as far as we understand,
was licensed to carry a concealed weapon in Minnesota.
Yeah, it's been quite fascinating because the n or the
National Rifle Association had come out out and called for
a full investigation into this incident, arguing that Americans do
have the right and this man, it seems, was lawfully allowed,
permitted to carry this weapon and they should not be
shot at.
And targeted for this reason.
So you've got this extraordinary confluence now of different political
perspectives calling for further investigation into this incident. The gun
right lobby is not happy, they say that you know,
they're making the argument that just because someone carries a
gun doesn't mean that they pose a danger, and that's
one of the central premises of this right to bear
arms as they see it in the United States. So
you know, people who carry guns should not be risked
being lawfully shot by officers saying that this is dangerous
and wrong. So I think this political impulse is also
we can imagine weighing on minds in the White House
as they decide how to handle this. And as you said,
they're the videos here are the key issue. You know,
it's been said and you humorous time on talk should
over the day on Sunday that you know, American people,
many of whom, by the way, are at home because
of the snowstorms, watching this constantly, can see with their
own eyes from these videos what happened, and they're being
told something else by members of the Trump administration. So
this is inherently problematic now for the White House. So
it'll be interesting to see how they come out on
this this morning.
And to your point about some of the rhetoric we're
hearing from the Sunday political shows, more talk about potentially
not voting for this massive government funding bill that's supposed
to avert a government shut down by the end of
the week. Democrats are saying that they won't vote for
it unless it strips out funding for the Department of
Homeland Security, ICE and the border patrol. Are we staring
down the possibility of a government shut down at the
end of the week.
Possibly, I mean this is adding to this sense of
instability now as we enter the week.
So Democrats, as you say.
There, are demanding that they split off the funding for
the DHS and pass the rest of this huge funding
package to avoid a shutdown at the end of the week.
Now, Senate Republican.
Leaders have indicated that that's not going to happen, that
they still believe they're going to try and pass the
full spending package that includes money for ICE and border control.
In that now the votes in the Senate are not
you'd start until Tuesday evening due to this snowstorm. Let's
see how this pans out. But it undoubtedly another pressure
point and that's coming to bear here as we entered
the week.
In our last minute, here Susan, what else should we
be watching for in the days to come? As apparently
this immigration enforcement surge in Minneapolis continues.
Yeah, I think it was interesting hearing from Donald Trump,
as I said, is brief interview with the World Street Journal.
But he did kind of hint that, you know, these
officers would not be in Minneapolis forever the way he
put it. So, you know, are we going to see
a move by the US President, by by his officials
to move out some of the federal law enforcement officials
from the city where things are obviously getting and continuing
to be so tense.
Now, that could be.
A move to divert attention to other states. Donald trumpet
for example, it's talking about California, for example, and some
of what he says is the corruption there, for example.
So let's see if this is just a diversion strategy
by the administration.
Either this is Bloomberg Daybreak, your morning podcast on the
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