WEBVTT - Congress Meets to Certify Trump's Victory; NYC Congestion Pricing Begins                                                                                    

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, Radio News.

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<v Speaker 2>Good morning, I'm Nathan Hager and I'm Karen Moscow. Here

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<v Speaker 2>are the stories we're following today.

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<v Speaker 3>Karen, we begin with the latest from Washington, d C.

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<v Speaker 3>Where Congress is set to meet on a snowy Capitol

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<v Speaker 3>Hill today to certify President elect Donald Trump's win in November.

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<v Speaker 3>President Biden invited a group of new Democratic lawmakers to

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<v Speaker 3>the White House last night and urged them to commit

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<v Speaker 3>to a peaceful transfer of power.

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<v Speaker 4>Now it's your duty to tell the truth. Remember what happened,

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<v Speaker 4>and I'll let January sixth be rewritten as or even erased.

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<v Speaker 3>The riot at the Capitol on January sixth, four years

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<v Speaker 3>ago has turned into a political flashpoint, and President elect

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<v Speaker 3>Trump is widely expected to grant swift clemency to the

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<v Speaker 3>thousand plus people convicted over the events of that day.

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<v Speaker 3>We get that story from Bloomberg's Doug Prisner.

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<v Speaker 5>The President elect has downplayed the severity of the attack

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<v Speaker 5>and announced its prosecutions, and he's expected to fulfill his

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<v Speaker 5>promises of swift clemency for the one thousand plus people

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<v Speaker 5>convicted and the hundreds more with pending cases. The question

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<v Speaker 5>is how such a move would impact democracy and the

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<v Speaker 5>rule of law. Mass pardons would also set the tone

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<v Speaker 5>for how Trump might wield the presidency to reward loyalist

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<v Speaker 5>and critics fear punish opponents. This year's January sixth election

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<v Speaker 5>certification has for the first time been designated a National

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<v Speaker 5>Special Security event. In New York. I'm Doug Prisner, Bloomberg.

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<v Speaker 2>Radio, all right, dog, thank you, while looking to our

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<v Speaker 2>neighbors to the north. Canada's Prime Minister Justin Trudeau is

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<v Speaker 2>said to be preparing to announce his resignation. The Globe

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<v Speaker 2>and Mail newspaper says the announcement could come as early

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<v Speaker 2>as today. It would trigger a race for the party leadership,

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<v Speaker 2>with the winner becoming PM. Trudeau has been under pressure

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<v Speaker 2>from lawmakers in his party to quit for months. Scrutiny

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<v Speaker 2>grew last month after his Finance minister, Christia Freeland quit.

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<v Speaker 3>And politics around the Globe Karen, South Korea's corruption watchdog

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<v Speaker 3>has asked a court in Seoul to extend a warrant

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<v Speaker 3>to arrest President yunsuk yol. The move comes after their

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<v Speaker 3>first attempt last week ended in failure following an hour's

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<v Speaker 3>long standoff with the UN's security team. Secretary of State

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<v Speaker 3>Anthony Blincoln is in Seoul. He expressed confidence in South

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<v Speaker 3>Korea's acting.

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<v Speaker 6>Later, We've got serious concerns about some of the actions

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<v Speaker 6>that President unon took. We communicated those directly to the government.

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<v Speaker 6>At the same time, we have tremendous confidence in the

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<v Speaker 6>resilience of South Korea's democracy.

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<v Speaker 3>And while Secretary of State Anthony Blincoln's in Seoul, North

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<v Speaker 3>Korea fired an intermediate range ballistic missile toward its eastern waters.

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<v Speaker 2>Well, Nathan, back here in the US, it's the first

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<v Speaker 2>full work day with the New York City congestion pricing

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<v Speaker 2>program in effect. Dim we get this story with Bloomberg's

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<v Speaker 2>John Tucker and John it's something of a first Yeah.

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<v Speaker 7>In fact, this was the first such program in the

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<v Speaker 7>United States. Karen Morales lives north of New York and

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<v Speaker 7>she's the main caregiver for her aging father who lives

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<v Speaker 7>in Lower Manhattan, and her reaction is typical among drivers.

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<v Speaker 7>She calls the toll and abuse of the working class

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<v Speaker 7>to try to.

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<v Speaker 3>Make more payments.

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<v Speaker 8>Just to do that, I think it's hard for middle

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<v Speaker 8>class person.

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<v Speaker 7>Jenno Lieber, the head of the MTA, would rather focus

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<v Speaker 7>on the benefits.

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<v Speaker 9>The good news for the.

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<v Speaker 7>Core function of fire and EMS is one of the

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<v Speaker 7>principal goals is to make response.

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<v Speaker 3>Times faster, and that's especially.

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<v Speaker 7>Important for EMS fourteen hundred cameras and easy Pass detectors

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<v Speaker 7>who are switched on Sunday to catch every vehicle traveling

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<v Speaker 7>south of sixtieth Street and to hit them with a

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<v Speaker 7>new nine dollars toll during peak travel times. This is

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<v Speaker 7>all part of the plan to bring fifteen billion dollars

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<v Speaker 7>to the MTA to upgrade subways and mass transit. The

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<v Speaker 7>goal is to coax more people to use mass transit

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<v Speaker 7>and encourage trucks to make deliveries overnight. One hurdle is

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<v Speaker 7>that some residents still feel safe on the subways. The

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<v Speaker 7>fatal burning last month of a woman sitting in a

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<v Speaker 7>subway car at Cody Onand shocked the city. There have

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<v Speaker 7>been several stabbings and incidents of people pushing riders onto

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<v Speaker 7>train tracks and looming large over congestion. Pricing is the

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<v Speaker 7>change of administration at Washington. President elect Trump opposes it

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<v Speaker 7>New York. I'm John Tucker Bloomberg Radio.

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<v Speaker 2>Well, we turn to the markets now and futures are hire.

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<v Speaker 2>As we kick off the first full trading week of

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<v Speaker 2>the new year. This morning, the yield on the thirty

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<v Speaker 2>year treasury climb to its highest level since November of

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<v Speaker 2>twenty twenty three. Right now, futures again higher, SMP futures

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<v Speaker 2>up four tenths of percent, down futures up a tenth

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<v Speaker 2>of up percent, NASDAG futures up seven tenths of percent,

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<v Speaker 2>and the thirty year yield four point eight three percent.

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<v Speaker 3>And this first full trading week of the year, Karen

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<v Speaker 3>is going to feature a jobs report, fed minutes and

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<v Speaker 3>a smattering of earnings news. Let's get a preview from

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<v Speaker 3>Bloomberg's Charlie Pellett.

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<v Speaker 9>Magnificent seven. Profit growth this year is projected to slow

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<v Speaker 9>to seventeen point nine percent, learnings increases for the rest

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<v Speaker 9>of the s and P five hundred accelerate to ten

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<v Speaker 9>point nine percent. Emily Rowland is co chief investment strategist

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<v Speaker 9>at JH Investments.

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<v Speaker 10>In order for earnes to see these double digit estimates

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<v Speaker 10>that are being banked in right now, you probably need

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<v Speaker 10>to see bondyields come down a bit. Here. You probably

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<v Speaker 10>need to see that cost of borrowing again sort of

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<v Speaker 10>become a little bit more mitigated.

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<v Speaker 9>Here this week, we hear from Constellation Brands, Delta and

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<v Speaker 9>Sam Song in New York. Charlie Pale, Bloomberg Radio.

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<v Speaker 2>All right, Charlie, thank you well. In deal news, Bloomberg

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<v Speaker 2>News has learned Paychecks As in advanced talks to acquire

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<v Speaker 2>pay Corps, a smaller rival in payroll processing. The acquisition

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<v Speaker 2>would bring together two major players in the human resources

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<v Speaker 2>software and services market, allowing for cost cuts and bundled

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<v Speaker 2>services for customers. Shares of pay Core they are arising

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<v Speaker 2>in early trading. They are of almost nineteen They're of

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<v Speaker 2>at least twelve percent in early trading.

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<v Speaker 3>Turning to the economy now Karen, two FED officials say

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<v Speaker 3>the central bank must finish its fight on inflation and

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<v Speaker 3>reach the two percent target. At the American Economic Association,

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<v Speaker 3>FED Governor Adriana Kugler said the economy is growing at

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<v Speaker 3>a healthy pace, but everyone needs to keep their eye

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<v Speaker 3>on the labor market.

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<v Speaker 8>It has cooled but remain resilient. And it has remained resilient.

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<v Speaker 8>We still see real wages growing at about one point

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<v Speaker 8>five one point six percent, and at the same time,

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<v Speaker 8>though the unemployment rate has been stepping up a bed.

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<v Speaker 3>It's still at.

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<v Speaker 8>Four point two percent, which is a historically low rate

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<v Speaker 8>of unemployment.

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<v Speaker 3>Adriana Kugler went on to say the FED is moving

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<v Speaker 3>toward the two percent inflation target, but there is work

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<v Speaker 3>that still needs to get done. Speaking separately, Mary Daily,

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<v Speaker 3>head of the San Francisco FED, said inflation remains uncomfortably

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<v Speaker 3>above the fed's target.

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<v Speaker 2>As time. Now, we're look at some of the other

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<v Speaker 2>stories making news in New York and around the world,

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<v Speaker 2>and for that we're joined by Bloomberg's Michael bar Michael,

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<v Speaker 2>good morning, Good.

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<v Speaker 11>Morning, Karen. A major winter blast off snow, ice, high winds,

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<v Speaker 11>and plunging temperatures. They're stirring up dangerous conditions across the

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<v Speaker 11>US Central and Southern states all the way to the

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<v Speaker 11>East Coast. Bloomberg Media religiust Rob Carolyn has the latest.

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<v Speaker 12>A significant winter storm will be affecting areas from the

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<v Speaker 12>Ohio River Valley to the mid Atlantic today, with heavy

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<v Speaker 12>snow likely in the district in Baltimore. Some areas are

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<v Speaker 12>probably going to see anywhere from six to as much

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<v Speaker 12>as ten inches of snow from this system. There will

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<v Speaker 12>also be heavy rain extending from the system through the

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<v Speaker 12>Carolinas into parts of Georgia and the Florida Panhandle. Behind

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<v Speaker 12>the system, very cold air stretching from the Dakota's southward

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<v Speaker 12>into Texas, and some of that'll be moving into the

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<v Speaker 12>mid Atlantic States later this week. I'm Rob Carolyn Bloomberg Radio.

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<v Speaker 11>Thank you Rob. It's a busy week for law enforcement

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<v Speaker 11>in Washington, d C. They are preparing for the state

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<v Speaker 11>funeral a former president, Jimmy Carter. Carter's body will remain

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<v Speaker 11>in Atlanta through today before making the trip to d

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<v Speaker 11>C for Thursday's funeral, where President Biden will delivered the eulogy.

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<v Speaker 11>Thousands of extra police officers are being brought in, with

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<v Speaker 11>hundreds of soldiers on standby, and the DC National Guard

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<v Speaker 11>has been activated. The FBI says the man responsible for

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<v Speaker 11>the deadly truck attack in New Orleans on New Year's

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<v Speaker 11>Day visited the city twice before and recorded video of

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<v Speaker 11>the French Quarter with smart glasses. Authorities saying the attack

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<v Speaker 11>by Shim's Dude Dean Jabbar, killed fourteen people and injured

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<v Speaker 11>dozens of others. The former US Army soldier proclaimed his

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<v Speaker 11>support for Ices in online videos posted hours before he

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<v Speaker 11>struck the Brutalist was crowned Best Drama Film at the

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<v Speaker 11>Golden Globes last night. Adrian Brody won for Best Actor.

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<v Speaker 11>In the movie, he plays a Hungarian Jewish architect who

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<v Speaker 11>immigrates to the US to escape the Holocaust. During the

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<v Speaker 11>CBS telecast broad he had a message for real life immigrants.

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<v Speaker 1>I hope that this work stands to lift you up

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<v Speaker 1>a bit and to give you a.

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<v Speaker 3>Voice, and I'm so grateful. I will cherish this moment. Treford,

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<v Speaker 3>thank you.

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<v Speaker 11>Emilia Perez took home the Best Motion Picture, Musical or Comedy.

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<v Speaker 11>Global News twenty four hours a day and whenever you

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<v Speaker 11>want it with Bloomberg News. Now, I'm Michael Barr, and

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<v Speaker 11>this is Bloomberg Cameron.

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<v Speaker 2>All right, Michael Barr, thank you time now for the

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<v Speaker 2>Bloomberg Sports Outdate, brought to you by Tri State Audie.

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<v Speaker 2>Here's John Stanshower.

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<v Speaker 3>John, good morning, Good morning care.

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<v Speaker 13>In the NFL regular season ended in Detroit, Lions and

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<v Speaker 13>Vikings both came in with a gaudy fourteen and two record,

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<v Speaker 13>but only one would get the first round by home

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<v Speaker 13>field advantage. The loser would have to play likely all

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<v Speaker 13>their playoff games on the road. It figured to be

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<v Speaker 13>a close game. It was not all Lions. They won

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<v Speaker 13>thirty one to nine. There were four touchdowns scored in

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<v Speaker 13>all four by Detroit Jamiir Gibbs. As for the Giants,

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<v Speaker 13>the one hundred season in franchise history one of the worst.

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<v Speaker 13>The club record fourteen losses, a twelfth loss in a

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<v Speaker 13>row in Philadelphia, even with the Eagles arresting their best players, Philly,

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<v Speaker 13>led by third string quarterback Tanner mc he won twenty

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<v Speaker 13>to thirteen. And now we'll see if the Giants clean

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<v Speaker 13>house or decide to keep coach Brian dave All and

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<v Speaker 13>GM Joe Shane. We know the Jets are looking for

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<v Speaker 13>a new coach in GM, probably a new QB.

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<v Speaker 3>If this was Aaron Rodgers.

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<v Speaker 13>Last Jet game, it was his best and it included

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<v Speaker 13>a career milestone.

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<v Speaker 3>Good shotgun for Rogers.

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<v Speaker 14>Presaul in motion, He's back to throw steps up with

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<v Speaker 14>the pocket Sidearms went over the middle top touchdown.

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<v Speaker 13>Tyler Conklin and that is.

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<v Speaker 14>Career touchdown pass number five hundred.

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<v Speaker 13>Wax two Rogers joining the club with only four other

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<v Speaker 13>members Tom Brady, Drew Brees, Peyton Manning and Brett Farvey.

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<v Speaker 13>Through four teen passes, and the Jets beat Miami thirty

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<v Speaker 13>two to twenty. The Patriots beat the Bills twenty three sixteen,

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<v Speaker 13>but they went just four and thirteen for the second

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<v Speaker 13>straight year, and just after the game ended, they fired

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<v Speaker 13>Gerond Meyo. He gets just one season as Bill Belichick's successor.

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<v Speaker 13>We'll see if Dallas fires Mike McCarthy after a season

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<v Speaker 13>with only two home wins. The Cowboys on a TV

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<v Speaker 13>with three seconds left, lost to Washington three three to nineteen.

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<v Speaker 13>Commanders went twelve and five, their best season since nineteen

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<v Speaker 13>ninety one. Denver got the last playoffs bought in the AFC.

0:11:07.000 --> 0:11:08.959
<v Speaker 13>Tampa Bay got the last one in the NFC. The

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<v Speaker 13>playoffs begin Saturday. The Rangers won six two at Chicago.

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<v Speaker 13>The golf at Kapalua won by Hedeki Matsuyama with a

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<v Speaker 13>PGA record score of thirty five.

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<v Speaker 3>On DUPA, John stash that We're Bloomberg Sports.

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<v Speaker 5>Kenny and Nathan.

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<v Speaker 1>Coast to coast on Bloomberg Radio nationwide on Sirius XM,

0:11:28.520 --> 0:11:31.360
<v Speaker 1>and around the world on Bloomberg dot Com and the

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<v Speaker 1>Bloomberg Business Appum. This is Bloomberg Daybreak.

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<v Speaker 3>Good morning, I'm Nathan Hager. Memories of January sixth, twenty

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<v Speaker 3>twenty one are hanging over this January sixth, this Congress

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<v Speaker 3>gets ready to gather today to certify Donald Trump as

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<v Speaker 3>the next president of the United States. Outgoing President Joe

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<v Speaker 3>Biden says it is a day American should never forget.

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<v Speaker 4>Today that most of our history we took for granted

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<v Speaker 4>the sixth, but I hope we never take it for

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<v Speaker 4>granted again. You know, four years year ago, in January sixth,

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<v Speaker 4>this capital was attacked by a violent.

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<v Speaker 3>Mom and as president like Trump considers clemency for his

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<v Speaker 3>supporters that day, President Biden told new Democratic lawmakers it

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<v Speaker 3>is their duty to uphold the peaceful transfer of power. Today.

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<v Speaker 3>Joining us this morning is Bloomberg's Kevin White Law. Kevin,

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<v Speaker 3>we really are expecting this to be a much different

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<v Speaker 3>January sixth than four years ago, aren't we a good morning?

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<v Speaker 11>Yeah?

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<v Speaker 14>I mean yes, thanks, we are, and I think you're seeing.

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<v Speaker 14>First of all, it's being taken much more seriously as

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<v Speaker 14>a security risk and many many more precautions being taken.

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<v Speaker 14>There was no fencing around the Capitol last time. It

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<v Speaker 14>hadn't been declared a major national security event. Up to

0:12:38.640 --> 0:12:42.520
<v Speaker 14>that point, always been a reasonably pro former kind of

0:12:42.559 --> 0:12:44.640
<v Speaker 14>thing where it kind of went and people didn't even

0:12:44.679 --> 0:12:47.760
<v Speaker 14>really notice it. This time it's a very different thing.

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<v Speaker 14>But you also have an administration in the Biden administration

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<v Speaker 14>that is committed to a smooth process, taking part in

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<v Speaker 14>it and making sure that they set an example for

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<v Speaker 14>what a peaceful transfer of power is supposed to look like.

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<v Speaker 3>And I guess we're seeing elements of that example in

0:13:06.120 --> 0:13:09.640
<v Speaker 3>an op ed from the President in the Washington Post

0:13:09.720 --> 0:13:13.760
<v Speaker 3>this morning talking about his determination to uphold the peaceful

0:13:13.800 --> 0:13:17.080
<v Speaker 3>transfer power, even to return to the capital on January

0:13:17.160 --> 0:13:21.640
<v Speaker 3>twentieth to attend President Trump's inauguration, something that the former

0:13:21.800 --> 0:13:26.240
<v Speaker 3>now president elect did not afford President Biden four years ago.

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<v Speaker 3>How likely is it, though, that President elect Trump moves

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<v Speaker 3>quickly on clemency for his supporters from that.

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<v Speaker 14>Yeah, I mean, he certainly has promised that he's going

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<v Speaker 14>to move very quickly to you know, possibly even on

0:13:38.360 --> 0:13:41.280
<v Speaker 14>the first day, to do some kind of clemency. I

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<v Speaker 14>think the only question really is sort of how broad

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<v Speaker 14>it is and is it a pardon, is it clemency

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<v Speaker 14>for is it selective? Does it sort of encompass all

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<v Speaker 14>of the prosecutions. There's obviously a lot of concern among

0:13:55.360 --> 0:13:59.440
<v Speaker 14>sort of the Justice Department folks and prosecutors and even

0:13:59.440 --> 0:14:01.880
<v Speaker 14>some judges who have made it clear this was obviously

0:14:01.960 --> 0:14:04.440
<v Speaker 14>a very serious event. There were people who were injured.

0:14:04.440 --> 0:14:06.760
<v Speaker 14>There there was even one who was killed. It was

0:14:07.160 --> 0:14:11.600
<v Speaker 14>an event that did also tear apart of the country

0:14:11.600 --> 0:14:16.480
<v Speaker 14>a little bit. And the notion of a mass pardon

0:14:16.600 --> 0:14:19.040
<v Speaker 14>is has a lot of people worried about what that

0:14:19.160 --> 0:14:23.480
<v Speaker 14>says about sort of, you know, potential future problems. Should

0:14:23.480 --> 0:14:26.240
<v Speaker 14>should there be another kind of similar moment where someone

0:14:26.760 --> 0:14:30.760
<v Speaker 14>in power resists the peaceful transfer of power. It's really

0:14:30.840 --> 0:14:33.160
<v Speaker 14>unclear exactly what Trump is going to do, and it

0:14:33.200 --> 0:14:35.640
<v Speaker 14>is possible that there will be a somewhat more you know,

0:14:35.640 --> 0:14:39.480
<v Speaker 14>he could, for instance, separate non violent versus violent offenders

0:14:39.520 --> 0:14:44.240
<v Speaker 14>and handle them differently. That's a possibility, but the broadery

0:14:44.320 --> 0:14:47.240
<v Speaker 14>goes the more controversial. It's obviously going to be just.

0:14:47.200 --> 0:14:50.080
<v Speaker 3>Thirty seconds left, Kevin. But if the president elect does

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<v Speaker 3>do like a blanket clemency or a wide move like that,

0:14:54.240 --> 0:14:57.000
<v Speaker 3>what does that mean for setting his agenda? I mean,

0:14:57.040 --> 0:14:59.520
<v Speaker 3>he's talked about trying to pass a whole bunch of

0:14:59.520 --> 0:15:01.320
<v Speaker 3>things in fell Swoop.

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<v Speaker 14>Well, it does, and obviously a lot of what he's

0:15:03.840 --> 0:15:06.280
<v Speaker 14>going to have to do if he wants to really

0:15:06.360 --> 0:15:09.720
<v Speaker 14>be broad is could do it through this process called reconciliation,

0:15:09.800 --> 0:15:12.160
<v Speaker 14>which is a way of doing it without the votes

0:15:12.200 --> 0:15:15.320
<v Speaker 14>of Democrats. But it's going to be extremely hard. His

0:15:15.440 --> 0:15:20.960
<v Speaker 14>margins and Congress are very narrow, and the broader clemency

0:15:21.000 --> 0:15:23.320
<v Speaker 14>movement goes, the less Democrats are going to be willing

0:15:23.400 --> 0:15:27.160
<v Speaker 14>to give him space on other parts of his agenda

0:15:27.200 --> 0:15:28.600
<v Speaker 14>that will indeed need their votes.

0:15:28.960 --> 0:15:32.360
<v Speaker 2>This is Bloomberg Daybreak, your morning podcast on the stories

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0:16:17.800 --> 0:16:19.720
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<v Speaker 2>Dabray