Trump's Call with Putin; Gabbard Confirmed as Spy Chief

Bloomberg Audio Studios, Podcasts, Radio News. 0:00:10.240 --> 0:00:10.799 Good morning. 0:00:10.840 --> 0:00:13.680 I'm Nathan Hager and I'm Karen Moscow. Here are the 0:00:13.720 --> 0:00:15.160 stories we're following today. 0:00:15.360 --> 0:00:17.560 Karen, we begin with the latest efforts to end the 0:00:17.600 --> 0:00:20.639 war in Ukraine. President Trump says he has agreed to 0:00:20.760 --> 0:00:23.960 start negotiations to end the conflict in a phone call 0:00:24.040 --> 0:00:27.320 with Russian President Vladimir Putin. Here was the President, as 0:00:27.320 --> 0:00:28.520 heard on Bloomberg Radio. 0:00:29.280 --> 0:00:32.920 I'll be dealing with President Putin largely on the phone, 0:00:32.960 --> 0:00:36.479 and we ultimately expect to meet. In fact, we expect 0:00:37.320 --> 0:00:39.639 that he'll come here and I'll go there, and we're 0:00:39.640 --> 0:00:42.640 going to meet also probably in Saudi Arabia, the first 0:00:42.720 --> 0:00:44.800 time we'll meet in Saudi Arabia. Se if we get 0:00:45.159 --> 0:00:47.839 something done, but we want to end that war. That 0:00:47.880 --> 0:00:49.400 war is a disaster now. 0:00:49.400 --> 0:00:52.600 Critics say President Trump is sweeping aside three years of 0:00:52.760 --> 0:00:56.320 US policy with this call, in blind siding European allies. 0:00:56.600 --> 0:00:59.880 Defense Secretary Pete Hegseth says Trump's call with Putin is 0:01:00.200 --> 0:01:01.040 not a betrayal. 0:01:01.480 --> 0:01:02.480 Certainly not a betrayal. 0:01:03.200 --> 0:01:05.920 As I said to our allies yesterday, we recognized the 0:01:06.000 --> 0:01:09.400 incredible commitment that has been made over many years, and 0:01:09.480 --> 0:01:12.520 no country, as the President Trump has pointed out, has 0:01:12.560 --> 0:01:13.600 many larger commitment. 0:01:14.000 --> 0:01:17.120 Defense Secretary Pete Hegseth spoke earlier in Brussels. 0:01:17.800 --> 0:01:21.040 Meanwhile, Nathan, the President's effort to shrink this size the 0:01:21.040 --> 0:01:24.360 federal government continues, but is so called buyout offered to 0:01:24.440 --> 0:01:28.039 federal workers has fallen short, and Bloomberg's John Tucker joins 0:01:28.120 --> 0:01:29.440 us this morning with the details. 0:01:29.520 --> 0:01:31.160 John, good morning, Yeah, good morning, Karen. 0:01:31.280 --> 0:01:33.880 Only seventy five thousand federal employees signed up for the 0:01:33.959 --> 0:01:37.840 voluntary resignation program, so that makes up about three percent 0:01:38.120 --> 0:01:41.520 of the civilian federal workforce. The White House had previously 0:01:41.600 --> 0:01:43.920 set the goal at five to ten percent. Well, this 0:01:44.080 --> 0:01:47.440 now increases the likelihood of deeper mass firings. 0:01:47.840 --> 0:01:47.960 You know. 0:01:47.960 --> 0:01:50.880 An executive order signed earlier this week, as Elon Musk 0:01:50.880 --> 0:01:54.880 stood alongside him, President Trump ordered agency heads to promptly 0:01:55.000 --> 0:02:00.400 undertake preparations to initiate large scale reductions in forces. Has 0:02:00.440 --> 0:02:02.800 been the driving force behind the effort to reduce the 0:02:02.840 --> 0:02:06.440 size of government through a so called Department of Government Efficiency, 0:02:06.800 --> 0:02:09.600 and he just spoke about the effort at the annual 0:02:09.680 --> 0:02:10.840 World Government Summit. 0:02:11.520 --> 0:02:13.679 It's kind of like if they're leaving a weed. 0:02:13.800 --> 0:02:16.639 If you don't remove the roots of the weed, then 0:02:16.760 --> 0:02:18.400 it's easy for the weed to grow back. But if 0:02:18.440 --> 0:02:19.480 you remove the reach roots of. 0:02:19.440 --> 0:02:22.000 The weed, it doesn't stop weeds from ever going back, 0:02:22.000 --> 0:02:22.920 but it makes it harder. 0:02:23.240 --> 0:02:26.280 A US district judge in Boston did clear the way 0:02:26.360 --> 0:02:28.760 for the buyouts of the federal workers, ruling yesterday that 0:02:28.880 --> 0:02:32.520 their unions don't have legal standing to sue. You knoww 0:02:32.600 --> 0:02:34.280 York on John Tucker Bloomberg Radio. 0:02:34.440 --> 0:02:34.959 Thanks John. 0:02:35.000 --> 0:02:37.680 While the President moves ahead with shrinking the government, one 0:02:37.800 --> 0:02:40.720 major move is on hold for now. A federal judge 0:02:40.800 --> 0:02:43.840 in Washington, DC has blocked the president from removing the 0:02:43.919 --> 0:02:47.880 head of the independent agency that protects government whistleblowers. The 0:02:47.960 --> 0:02:51.280 administration did not give a reason for firing Hampton Dellinger 0:02:51.360 --> 0:02:53.919 as head of the Office of Special Counsel, but in 0:02:54.000 --> 0:02:57.240 a temporary restraining order, US District Judge Amy Berman Jackson 0:02:57.280 --> 0:03:00.880 said the move plainly goes against US law. The Justice 0:03:00.919 --> 0:03:01.800 Department says. 0:03:01.680 --> 0:03:03.800 It will appeal later today, Nathan. 0:03:03.880 --> 0:03:06.120 The Senate is set to vote on confirming Robert F. 0:03:06.200 --> 0:03:09.639 Kennedy Junior as Secretary of Health and Human Services. The 0:03:09.720 --> 0:03:11.799 seventy one year old is expected to pass through the 0:03:11.840 --> 0:03:15.799 full Senate despite concerns some Republicans have raised about his 0:03:16.000 --> 0:03:20.320 views on vaccines, but Republican Senator and doctor Bill Cassidy 0:03:20.560 --> 0:03:22.960 says his worries have been put to rest. 0:03:23.440 --> 0:03:24.240 Mister Kennedy and. 0:03:24.280 --> 0:03:28.119 The administration reached out seeking to reassure me regarding their 0:03:28.240 --> 0:03:33.640 commitment to protecting the public health benefit of vaccination. 0:03:34.120 --> 0:03:36.960 Senator Cassidy spoken the Senate floor last week. 0:03:37.080 --> 0:03:37.480 Robert F. 0:03:37.560 --> 0:03:40.480 Kennedy, Junior's confirmation would place him in charge of one 0:03:40.560 --> 0:03:44.880 point seven trillion dollars in spending on vaccines, food safety, 0:03:45.000 --> 0:03:47.200 and government health insurance programs ILL. 0:03:47.280 --> 0:03:50.000 Meanwhile, Karen Telsey Gabbert has been sworn in as Director 0:03:50.040 --> 0:03:53.280 of National Intelligence after she won Senate confirmation in a 0:03:53.400 --> 0:03:56.800 mostly party line vote. Gabbart is promising to get right 0:03:56.920 --> 0:03:57.240 to work. 0:03:57.880 --> 0:04:03.200 Unfortunately, the America and people have very little trust in 0:04:03.320 --> 0:04:06.880 the intelligence community, largely because they've seen the weaponization and 0:04:07.440 --> 0:04:13.320 politicization of an entity that is supposed to be purely 0:04:13.400 --> 0:04:15.480 focused on ensuring our national security. 0:04:15.720 --> 0:04:19.160 Tulsea Gabbert didn't specify how US intelligence has been weaponized 0:04:19.279 --> 0:04:22.360 or what changes she might make. Her office also says 0:04:22.400 --> 0:04:25.279 she plans to attend the Munich Security Conference this weekend. 0:04:25.720 --> 0:04:28.040 We turned to the markets now, Nathan and earnings are 0:04:28.080 --> 0:04:30.920 in focus this morning. In Europe, shares of Barclays or 0:04:31.000 --> 0:04:35.080 down five percent. The British bank's results did beat estimates, 0:04:35.120 --> 0:04:38.960 but the firm leftist guidance for next year unchanged. Barclay's 0:04:39.160 --> 0:04:42.839 CEO cs VN Kada Krishnan says he expects to benefit 0:04:42.920 --> 0:04:45.480 from a loosening of UK regulations. 0:04:46.000 --> 0:04:49.680 I expect that you will see some rebalancing, but you know, 0:04:49.800 --> 0:04:52.560 I should say that we want the rebalancing in the 0:04:52.720 --> 0:04:55.599 context of strongly regulated markets. 0:04:56.040 --> 0:04:57.640 We think all the major. 0:04:57.440 --> 0:05:01.600 Banks as included a good a of a well regulated 0:05:01.680 --> 0:05:04.720 financial system. It's what makes London great and so there 0:05:04.720 --> 0:05:07.000 should be some rebalancing, but in the context of a 0:05:07.080 --> 0:05:08.520 well regulated financial system. 0:05:08.960 --> 0:05:12.680 Barclay CEO cs and Katakrishnan says traders turned in their 0:05:12.760 --> 0:05:15.880 best fourth quarter performance in at least a decade. As 0:05:15.960 --> 0:05:20.000 President Trump's election spurred volatility across asset classes. 0:05:20.400 --> 0:05:23.599 In Asia, Cairen, shares of Ali Baba gained almost three percent. 0:05:23.680 --> 0:05:27.200 The e Commerce Giants chairman Joe Sai has confirmed Apple's 0:05:27.279 --> 0:05:31.920 iPhones will use his firm's AI technology. China is Apple's 0:05:31.960 --> 0:05:34.880 most important market after the US. It's the biggest market 0:05:34.960 --> 0:05:38.440 in the world for smartphones, computing, and artificial intelligence. 0:05:38.760 --> 0:05:41.120 We'll back here on the US. Nathan shares of Cisco 0:05:41.320 --> 0:05:44.120 searching more than six percent, the country's largest seller of 0:05:44.200 --> 0:05:46.960 networking gear, gave an up eat sales forecast for the 0:05:47.040 --> 0:05:50.080 current quarter. Cisco was held by companies spending more on 0:05:50.200 --> 0:05:53.320 infrastructure to take advantage of AI technology. 0:05:53.720 --> 0:05:55.960 On the flip side, care and shares of Reddit are 0:05:56.160 --> 0:05:59.440 down fourteen and a half percent. User growth at the 0:05:59.480 --> 0:06:02.360 social netw working platform missed Wall Street estimates for the 0:06:02.440 --> 0:06:06.120 fourth quarter. Reddit's blaming a change in Google's algorithm that 0:06:06.240 --> 0:06:09.600 impacted search traffic. Now, despite this morning's law says Reddit 0:06:09.760 --> 0:06:13.159 stock has increased more than sixfold since it went public 0:06:13.279 --> 0:06:13.840 last March. 0:06:14.360 --> 0:06:18.719 And finally, Nathan's officially over. Honda and Nissan have formally 0:06:18.920 --> 0:06:22.200 ended negotiations to combine. It brings a swift end to 0:06:22.279 --> 0:06:24.360 a partnership that would have created one of the world's 0:06:24.400 --> 0:06:27.479 biggest automakers. Still, both companies say they will continue their 0:06:27.520 --> 0:06:31.679 strategic partnership with Mitsubishi and collaborate on in house development 0:06:31.760 --> 0:06:39.279 of batteries, autonomous driving software and electric vehicle technology. Time 0:06:39.320 --> 0:06:40.760 now for a look at some of the other stories 0:06:40.800 --> 0:06:42.520 making news in New York and around the world, and 0:06:42.600 --> 0:06:44.479 for that we're joined by Bloomberg's Michael Barr. 0:06:44.600 --> 0:06:47.640 Michael, Good morning, Good morning, Karen. The Trump administration is 0:06:47.720 --> 0:06:51.000 suing New York over a twenty nineteen law that allows 0:06:51.080 --> 0:06:55.560 undocumented immigrants to obtain state identification while shielding their data 0:06:55.640 --> 0:06:59.040 from federal authorities. The lawsuit seeks to overturn the green 0:06:59.160 --> 0:07:03.000 light law that prohibit police officers during traffic stops to 0:07:03.120 --> 0:07:06.800 ask for immigration status. Attorney General Pam Bondi. 0:07:06.880 --> 0:07:12.560 New York has chosen to prioritize illegal aliens over American citizens. 0:07:13.120 --> 0:07:14.920 It stops, It stops today. 0:07:15.720 --> 0:07:19.640 New York Governor Kathy Hokul and Attorney General Letitia James 0:07:19.760 --> 0:07:23.520 have responded, defending the law and accusing the Trump administration 0:07:23.640 --> 0:07:27.480 of seeking to access New Yorker's data without a judicial warrant. 0:07:28.040 --> 0:07:31.520 New York Mayor Eric Adams is facing pushback over a 0:07:31.640 --> 0:07:36.040 planned visit today with Trump Borderzar Tom Homan. City and 0:07:36.160 --> 0:07:39.080 union leaders are accusing the mayor of selling out to 0:07:39.160 --> 0:07:43.080 get his corruption case dismissed by Trump's Justice Department. A 0:07:43.160 --> 0:07:47.400 recent directive from the mayor instructs municipal employees to allow 0:07:47.520 --> 0:07:51.200 ice agents into city buildings if they fear for their safety. 0:07:51.560 --> 0:07:54.640 Mayor Adams, during a city event, is standing by his work. 0:07:55.120 --> 0:07:57.520 Look at what I have done, how I have recovered 0:07:57.560 --> 0:08:01.960 the city, how we have for the safety of everyone 0:08:02.000 --> 0:08:05.120 in our care. There's nothing going to change with that. 0:08:05.360 --> 0:08:08.480 There's a level of consistency that we have accomplished. 0:08:08.520 --> 0:08:09.640 Are we going to continue to do that? 0:08:10.360 --> 0:08:13.960 Meanwhile, Mayor Adams is reportedly exploring the idea of possibly 0:08:14.080 --> 0:08:18.440 running in the spring Republican primary. The New York Times reports, 0:08:18.480 --> 0:08:22.240 according to a GOP official, Adams, a Democrat, has privately 0:08:22.480 --> 0:08:26.200 weighed for weeks whether to change is party affiliation or 0:08:26.280 --> 0:08:28.520 seek a waiver to run in both the Democratic and 0:08:28.640 --> 0:08:39.040 Republican primaries. In Washington, d C, parents, educators, community leaders, 0:08:39.080 --> 0:08:42.800 and elected officials gathered on the Capitol grounds to protest 0:08:42.880 --> 0:08:47.280 Department of Education cuts proposed by President Trump. They also 0:08:47.400 --> 0:08:51.360 protested student civil rights protections that have been curtailed or 0:08:51.400 --> 0:08:55.400 eliminated by Trump's executive orders. Global News twenty four hours 0:08:55.440 --> 0:08:58.320 a day and whenever you want it with the Bloomberg News. Now, 0:08:58.600 --> 0:08:59.400 I'm Michael Barn. 0:08:59.480 --> 0:09:01.679 This is Karen, Sorry Nuncle Barn. 0:09:01.760 --> 0:09:02.040 Thank you. 0:09:05.600 --> 0:09:07.520 Time now for the Bloombergy sportes ut Day, brought to 0:09:07.600 --> 0:09:10.520 you by Try straight Out EA. Here's John Stashauer. John, 0:09:10.559 --> 0:09:12.360 Good morning, Good morning, Karen Nixon. 0:09:12.400 --> 0:09:14.800 Hawks at the Garden, last game before the All Star 0:09:14.960 --> 0:09:17.640 very high scoring affair that went to overtime and saw 0:09:17.760 --> 0:09:19.440 Atlanta have a late lead. 0:09:20.800 --> 0:09:23.240 Hawks lead by one twenty second Formado. 0:09:23.360 --> 0:09:25.120 The shot clock is all. 0:09:27.679 --> 0:09:32.000 Luck shit defended by Daniels lunch Shitty puts it up. 0:09:35.679 --> 0:09:39.760 What forty nine los forty eight we e eleven second 0:09:39.840 --> 0:09:40.560 Svader that. 0:09:40.800 --> 0:09:43.000 Was the final MSG had the colla. Jalen Bruns in 0:09:43.040 --> 0:09:45.679 the last of his thirty six points. Karl Anthony Towns 0:09:45.679 --> 0:09:48.120 the night after scoring forty in the win at Indiana, 0:09:48.200 --> 0:09:51.520 scored forty four. He made seven of ten three pointers 0:09:51.559 --> 0:09:54.480 twenty six points for Precious at two and nets. Also 0:09:54.520 --> 0:09:57.040 at homebye Philadelphia one hundred and ninety six. That's have 0:09:57.120 --> 0:09:59.760 won three straight six and seven. Only loss was last 0:09:59.760 --> 0:10:01.920 week Washington, the worst team in the league. In Boston, 0:10:02.280 --> 0:10:04.920 Celtics fete the Spurs. Jason Tatum scored thirty two. He 0:10:04.960 --> 0:10:07.800 has scored over one hundred points over his last three games. 0:10:07.840 --> 0:10:09.959 Saint John's a top the Big East, but the Red 0:10:10.000 --> 0:10:13.160 Storm's ten game winning streat came to an end. Villanova's 0:10:13.160 --> 0:10:15.439 Tyler Perkins a three to four with eight seconds left. 0:10:15.480 --> 0:10:19.439 The Wildcats won seventy three seventy one duke twenty seven 0:10:19.480 --> 0:10:22.360 from star freshman Cooper Flag and easy win over cal 0:10:22.679 --> 0:10:25.840 Quia start to the Four Nation Faceoff, the round robin 0:10:25.920 --> 0:10:28.760 event that has replaced the NHL All Star Game. In Montreal, 0:10:28.800 --> 0:10:31.520 and Nathan McKinnon scored in the opening minute. Canada led 0:10:31.559 --> 0:10:35.559 three to one. Third period, Sweden rallied the tie. Toronto's 0:10:35.679 --> 0:10:38.880 Mitch Marner scored six minutes into overtime. Canada won four 0:10:38.880 --> 0:10:41.679 to three. Sidney Crosby assisted on the game winner, was 0:10:41.720 --> 0:10:44.320 his third assist of the night. Also in Montreal, tonight, 0:10:44.400 --> 0:10:47.120 it's the US against Finland. It took until the start 0:10:47.160 --> 0:10:50.000 of spring training, but free agent infielder Alex Bregman has 0:10:50.040 --> 0:10:53.079 a deal. After nine years playing third base for Houston, 0:10:53.480 --> 0:10:55.760 Reregman is going to the Red Socks, where they already 0:10:55.800 --> 0:10:58.000 have an All Star third baseman, Rafield Devers. The plan 0:10:58.160 --> 0:11:01.400 is for Bregman to play second. He agreed to three years, 0:11:01.440 --> 0:11:05.360 one hundred and twenty million, John Stasheward, Bloomberg Sports, Karen Nathan. 0:11:07.559 --> 0:11:11.920 Coast to coast on Bloomberg Radio, nationwide on Sirius XM, and. 0:11:12.080 --> 0:11:15.240 Around the world on Bloomberg dot Com and the Bloomberg 0:11:15.320 --> 0:11:15.920 Business app. 0:11:16.240 --> 0:11:17.800 This is Bloomberg Daybreak. 0:11:18.000 --> 0:11:19.480 Good morning. I'm Nathan Hager. 0:11:19.640 --> 0:11:23.160 President Donald Trump is reversing three years of US policy 0:11:23.280 --> 0:11:25.559 on the war in Ukraine in a phone call with 0:11:25.720 --> 0:11:29.640 Russian President Vladimir Putin. President says he has agreed to 0:11:29.720 --> 0:11:32.560 begin negotiating an end to the war with Russia's leader, 0:11:32.840 --> 0:11:36.600 and it's left European allies reeling, but Trump says it'll 0:11:36.640 --> 0:11:37.280 all work out. 0:11:37.720 --> 0:11:40.240 I think we're on the way to getting peace. I 0:11:40.320 --> 0:11:45.640 think President Putin wants peace and President Zelenski wants peace. 0:11:45.880 --> 0:11:48.240 And that was the President speaking from the Oval Office. 0:11:48.320 --> 0:11:51.079 Let's bring in Bloomberg News Senior editor Bill Ferries for 0:11:51.240 --> 0:11:53.719 war on this. Of course, Bill, there had been speculation 0:11:53.880 --> 0:11:56.880 almost from the time President Trump was inaugurated that there 0:11:56.960 --> 0:12:00.360 may be some kind of call between himself and the 0:12:00.440 --> 0:12:03.199 Russian president. Now it seems to be unfolding in a 0:12:03.240 --> 0:12:06.760 way that is really worrying European allies. 0:12:06.800 --> 0:12:11.199 Now good morning, Good morning, Nathan. Yeah, that's exactly right. 0:12:11.679 --> 0:12:15.680 President Trump announcing that he had this call that wasn't 0:12:15.720 --> 0:12:18.199 scheduled in advanced publicly at least, that he had this 0:12:18.320 --> 0:12:19.560 call with Vladimir Putin. 0:12:20.120 --> 0:12:21.559 He announced it on social media. 0:12:22.200 --> 0:12:24.800 Of course, there's a lot of European leaders and defense 0:12:24.880 --> 0:12:28.200 officials gathered in Munich for a security conference. They were 0:12:28.280 --> 0:12:31.719 all taken very much by surprise. In the past, in 0:12:31.800 --> 0:12:34.800 these kind of situations, a US president would often reach 0:12:34.880 --> 0:12:36.400 out to the allies to talk to. 0:12:36.440 --> 0:12:39.439 Them, consult with them ahead of a call like that. 0:12:40.000 --> 0:12:42.360 But President Trump coming out and saying that he and 0:12:42.480 --> 0:12:46.760 Vladimir Putin agreed to begin peace talks over the conflict 0:12:46.880 --> 0:12:50.880 in Ukraine. He's assigned a team that includes Secretary of 0:12:50.880 --> 0:12:54.800 State Marco Rubio and Director of the CIA John Ratcliffe 0:12:55.400 --> 0:12:59.040 to begin some of those talks. And then he said 0:12:59.120 --> 0:13:03.480 that he would be calling Ukrainian President Baltimore Zelenski to 0:13:03.800 --> 0:13:08.079 inform him of the call, so letting the world know, 0:13:08.360 --> 0:13:12.000 and then calling Zelenski to talk to him about the 0:13:12.080 --> 0:13:16.520 substance of the conversation. So very a big change from 0:13:16.559 --> 0:13:21.559 previous administration and from the European policy of no talks 0:13:21.600 --> 0:13:24.000 about Ukraine without Ukraine. 0:13:24.840 --> 0:13:26.040 So we'll see where this goes. 0:13:26.160 --> 0:13:28.599 But Europe definitely reeling from this latest move by the 0:13:28.640 --> 0:13:30.080 Trump administration. 0:13:29.920 --> 0:13:32.079 And to that point, Bill, from the comments that we've 0:13:32.160 --> 0:13:37.319 heard from Defense Secretary Pete Hegseth about Ukraine's aspiration to 0:13:37.400 --> 0:13:43.200 join NATO being unrealistic and the pre twenty fourteen borders 0:13:43.360 --> 0:13:46.840 not being realistic as well, it seems like the beginning 0:13:46.960 --> 0:13:50.480 of the negotiating position for Ukraine is pretty difficult. 0:13:52.120 --> 0:13:52.840 Yeah, exactly. 0:13:53.080 --> 0:13:56.120 I think that's been the criticism of this very public approach, 0:13:56.240 --> 0:14:01.079 with Defense Secretary Hegseth saying Ukraine's members in NATO's not 0:14:01.200 --> 0:14:05.160 a realistic goal, and then as you mentioned, saying that 0:14:05.320 --> 0:14:08.720 basically going back to a pre twenty fourteen world, which 0:14:08.800 --> 0:14:14.280 is when Russian troops invaded and took over Ukrainian Crimea, 0:14:15.320 --> 0:14:17.880 saying that that's really not going to be probably part 0:14:17.920 --> 0:14:22.440 of it, so immediately suggesting that Russia will probably get 0:14:22.520 --> 0:14:25.360 to hold on to quite a bit of territory. So 0:14:26.320 --> 0:14:28.080 I think a lot of people are seeing that is 0:14:28.320 --> 0:14:33.400 perhaps undercutting Ukraine's position. Ukraine does have a swath or 0:14:33.600 --> 0:14:36.800 a small piece of Russia as well, so there's a 0:14:36.960 --> 0:14:41.920 potential talk about trading territory for territory, but it's definitely, 0:14:42.040 --> 0:14:45.040 you know, it's perhaps not surprising, a very different approach 0:14:45.080 --> 0:14:47.480 from what we've seen the last three years from the US. 0:14:47.600 --> 0:14:49.880 And obviously we're seeing a very different approach when it 0:14:49.960 --> 0:14:54.560 comes to the federal government. Back in Washington, the President 0:14:54.680 --> 0:14:58.280 determined to shrink the size of the federal workforce. It 0:14:58.320 --> 0:15:01.960 seems like this buyout has fallen short of the White 0:15:02.000 --> 0:15:04.400 House goals in our last minute bill. What does that 0:15:04.640 --> 0:15:09.080 mean potentially for federal employees who didn't take the deferred 0:15:09.120 --> 0:15:10.280 resignation offer. 0:15:11.240 --> 0:15:13.520 Well, leaves them in a lot of uncertainty. 0:15:13.600 --> 0:15:16.760 It looks like about seventy five thousand federal employees did 0:15:16.960 --> 0:15:20.160 opt in for this voluntary resignation program to get paid 0:15:20.200 --> 0:15:24.320 through September. That is perhaps about three percent of the 0:15:24.560 --> 0:15:28.000 civilian federal workforce. The White House wanted something more like 0:15:28.080 --> 0:15:31.120 five to ten percent. There are reports out there in 0:15:31.360 --> 0:15:34.840 Washington Post New York Times about some agencies like GSA 0:15:35.080 --> 0:15:39.120 already starting to notify some workers of layoffs. We'll have 0:15:39.280 --> 0:15:41.680 to see how far they're able to go. There's certainly 0:15:41.720 --> 0:15:44.160 going to be a lot of lawsuits and questions about 0:15:44.200 --> 0:15:45.800 the legality of this going forward. 0:15:46.080 --> 0:15:49.520 This is Bloomberg Daybreak, your morning podcast on the stories 0:15:49.600 --> 0:15:52.520 making news from Wall Street to Washington and beyond. 0:15:52.880 --> 0:15:55.200 Look for us on your podcast feed by six am 0:15:55.280 --> 0:15:58.680 Eastern each morning, on Apple, Spotify, or anywhere else you listen. 0:15:58.920 --> 0:16:02.000 You can also listen each morning starting at five am 0:16:02.120 --> 0:16:04.560 Wall Street Time on Bloomberg eleven three to zero in 0:16:04.680 --> 0:16:07.400 New York, Bloomberg in ninety nine to one in Washington, 0:16:07.480 --> 0:16:11.360 Bloomberg ninety two nine in Boston, and nationwide on serious 0:16:11.640 --> 0:16:13.160 XM Channel one twenty one. 0:16:13.600 --> 0:16:16.280 Plus listen coast to coast on the Bloomberg Business app 0:16:16.360 --> 0:16:19.080 now with Apple CarPlay and Android Atto interfaces. 0:16:19.400 --> 0:16:22.000 And don't forget to subscribe to Bloomberg and News Now. 0:16:22.240 --> 0:16:24.800 It's the latest news whenever you want it in five 0:16:24.880 --> 0:16:27.880 minutes or less. Search Bloomberg News Now on your favorite 0:16:27.920 --> 0:16:31.520 podcast platform to stay informed all day long. I'm Karen 0:16:31.600 --> 0:16:32.440 Moscow and. 0:16:32.520 --> 0:16:35.080 I'm Nathan Hager. Join us again tomorrow morning for all 0:16:35.120 --> 0:16:37.040 the news you need to start your day right here 0:16:37.280 --> 0:16:38.320 on Bloomberg dab Ray