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

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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 an escalation in the feud between

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<v Speaker 3>President Donald Trump and FED Chair j Powell. This time

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<v Speaker 3>the Justice Department is involved. Bloomberg's John Tucker joins us

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<v Speaker 3>with the very latest, John and Nathan.

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<v Speaker 4>Federal Reserve Chair Jerome Pal s as the US Central

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<v Speaker 4>Bank has been served grand jury subpoenas from the Justice Department,

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<v Speaker 4>threatening a criminal indictment. Pal made the announcement in an

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<v Speaker 4>extraordinary video statement released last night.

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<v Speaker 5>This unprecedented action should be seen in the broader context

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<v Speaker 5>of the administration's threats and ongoing pressure.

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<v Speaker 4>The Trump administration last summer ramped up scrutiny at the

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<v Speaker 4>feds renovation of two buildings and rising costs associated with

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<v Speaker 4>the projects. But Powell says this is just pretext to

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<v Speaker 4>end FED independence.

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<v Speaker 5>The threat of criminal charges is a consequence of the

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<v Speaker 5>Federal Reserve setting interest rates based on our best assessment

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<v Speaker 5>of what will serve the public, rather than following the

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<v Speaker 5>preferences of the President.

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<v Speaker 4>In an interview with NBC News on Sunday, President Trump

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<v Speaker 4>denied having any knowledge of the DOJ's investigation into the

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<v Speaker 4>Central Bank. The President has repeatedly called for aggressive rate

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<v Speaker 4>cuts and has repeatedly mused about firing Pale. At the

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<v Speaker 4>end of last year, Trump said he was considering what

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<v Speaker 4>he called a gross incompetence lawsuit against Powell. In another

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<v Speaker 4>extraordinary staff he sought to fire FED Governor Lisa Cook,

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<v Speaker 4>where the Supreme Court is sent to take up the

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<v Speaker 4>Cook case later this month in New York, Coome John

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<v Speaker 4>Tucker Bloomberg.

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<v Speaker 2>Radio, All right, John, thank you well. Bloomberg News has

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<v Speaker 2>learned Federal Housing Finance Agency Director Bill Poulte was a

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<v Speaker 2>driving force behind the Trump administration's decision to subpoena the

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<v Speaker 2>Federal Reserve Balty has been a vocal force within the

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<v Speaker 2>administration investigating Trump's foes for mortgage fraud. He also submitted

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<v Speaker 2>a criminal referral to the Jay about FED Governor Lisa

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<v Speaker 2>Cook that is at the root of Trump's push to

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<v Speaker 2>fire her. The latest FED subpoena has drawn criticism from

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<v Speaker 2>Democrats like Massachusetts Senator Elizabeth Warren and Republican Senator Tom

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<v Speaker 2>Tillis of North Carolina. Tillis says he will oppose the

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<v Speaker 2>confirmation of any nominee for the FED until the legal

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<v Speaker 2>matter is fully resolved on Nathan Cel. America's sentiment is

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<v Speaker 2>sweeping through markets today after the Trump administration escalated its

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<v Speaker 2>attacks on the federal reserve. The dollar, treasuries, and US

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<v Speaker 2>equity futures are all sliding in early trading. The selloff

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<v Speaker 2>revives debate over just how far the President Kennon should

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<v Speaker 2>influence the nation's rate stance, which in recent decades has

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<v Speaker 2>been insulated from political interference so as to ensure price stability.

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<v Speaker 2>Gold and silver, in turn, are trading at record highs

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<v Speaker 2>this morning.

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<v Speaker 3>There's some geopolitical tensions to follow this morning as well.

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<v Speaker 3>Karen Iron's foreign minister says security forces have quote full

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<v Speaker 3>control of the country after two weeks of ongoing upheaval.

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<v Speaker 3>Activists say at least five hundred and forty people have

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<v Speaker 3>been killed so far in the latest waves of protests

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<v Speaker 3>in Iran. President Trump says he is closely monitoring the

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<v Speaker 3>protests and considering potential military options.

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<v Speaker 6>We're looking at it very seriously.

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<v Speaker 7>The military is looking at it, and we're looking at

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<v Speaker 7>some very strong options.

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<v Speaker 8>The president added.

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<v Speaker 3>The regime's leaders have contacted the US for negotiations. Iran's

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<v Speaker 3>parliament speaker, Mohammed Bager Khalibov, had this warning for the

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<v Speaker 3>US if it chooses to strike in.

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<v Speaker 9>Given your explicit admissions regarding your intention to carry out

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<v Speaker 9>military aggression against Iran within the framework of legitimate self defense,

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<v Speaker 9>we do not consider ourselves limited to reacting only after

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<v Speaker 9>an attack occurs, and we will act based on concrete

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<v Speaker 9>indications of threats.

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<v Speaker 3>It was Iran's parliament speaker, speaking through an interpreter. Communications

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<v Speaker 3>in Iran remain largely cut off and that has made

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<v Speaker 3>it difficult to track the full scope of the protest movement.

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<v Speaker 2>Well, Nathan, we want to turn out to new developments

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<v Speaker 2>involving Greenland. Danish broadcaster tvqu who says top diplomats from

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<v Speaker 2>Denmark and Greenland will meet Secretary of State Marco Rubio

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<v Speaker 2>in Washington on Wednesday. Denmark is banking on the meeting

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<v Speaker 2>to defuse President Trump's renewed push on Greenland. The President

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<v Speaker 2>insists ownership of the island is a key issue.

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<v Speaker 7>Book If we don't take Gleenland Russia, what China will

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<v Speaker 7>And I'm not letting that happen. If we don't take

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<v Speaker 7>Gleenland Russia, what China will take Greenland?

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<v Speaker 1>And I am not going to let that happen.

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<v Speaker 10>Yeah.

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<v Speaker 7>Sure, I'd looked at it and make a deal with

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<v Speaker 7>them that's easier. But one way or the other, we're

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<v Speaker 7>going to have Greenland.

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<v Speaker 2>May while Bloomberg News has learned a group of European countries,

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<v Speaker 2>led by the UK and Germany, as discussing plans for

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<v Speaker 2>a military presence in Greenland.

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<v Speaker 3>Meanwhile, Karen, President Trump is signaling he is leaning toward

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<v Speaker 3>excluding Exon mobil from his push for US oil majors

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<v Speaker 3>to rebuild Venezuela's petroleum industry. The President says he's displeased

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<v Speaker 3>with the company's response to his initiative viving oil and

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<v Speaker 3>then dooing years of under investment and mismanagement in Venezuela

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<v Speaker 3>would buy some estimates, require one hundred billion dollars and

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<v Speaker 3>take a decade.

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<v Speaker 2>Well back here, nathantentions are made high in Minneapolis days after,

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<v Speaker 2>and immigration and Customs enforcement officers shot and killed a

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<v Speaker 2>woman drive during a tense confrontation in her car. Now,

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<v Speaker 2>Homeland Security Secretary Christie Nomes says even more federal agents

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<v Speaker 2>are headed to the city.

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<v Speaker 11>We're sending more officers today and tomorrow they'll arrive. There'll

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<v Speaker 11>be hundreds more, and in order to allow our Ice

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<v Speaker 11>and our Border patrol individuals that are working in Minneapolis

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<v Speaker 11>to do so safely.

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<v Speaker 2>Homeland Security Secretary Christie Nome appeared on the Fox News

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<v Speaker 2>programs Sunday Morning Futures. But the debate continues over whether

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<v Speaker 2>ICE agent Jonathan Ross was justified in shooting Renee Good,

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<v Speaker 2>with multiple videos of the incident adding to the fearer.

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<v Speaker 2>Democratic Senator Tina Smith Minnesota is saying that federal investigators

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<v Speaker 2>need to work with state and local law enforcement.

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<v Speaker 12>We need to have a free, fair and unbiased investigation

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<v Speaker 12>so we can gather all of the evidence and all

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<v Speaker 12>of the information and we can know exactly what's happening.

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<v Speaker 12>And what I think is going on here is the

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<v Speaker 12>administration does not want that to happen, and that looks

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<v Speaker 12>to me like a cover up.

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<v Speaker 2>Minnesota Democrat Unis Smith appeared on ABC's This Week Heard

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<v Speaker 2>Every Sunday on Bloomberg Radio.

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<v Speaker 3>Turning back to Markets Now, Karen, besides fed pressure, investors

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<v Speaker 3>have another thing to focus on this week, bank earnings

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<v Speaker 3>let's get a preview of that from Bloomberg's Charlie Pellett.

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<v Speaker 8>The results from the nation's biggest banks will give us

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<v Speaker 8>the first glimpse into how Wall Street navigated the last

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<v Speaker 8>months of twenty twenty five amid President Trump's trade wars

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<v Speaker 8>and ongoing geopolitical tensions. Betsy Graysia is Global head of

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<v Speaker 8>Banks at Morgan Stanley.

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<v Speaker 13>Our setup is positive for Tuesday kickoff, and what I

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<v Speaker 13>think matters is both the outlook here for earnings as

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<v Speaker 13>well as the pent up backlog building in the capital markets.

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<v Speaker 8>JP Morgan Chase reports Tuesday. City Group, Bank of American,

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<v Speaker 8>Wells Fargo all report on Wednesday in New York. Charlie

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<v Speaker 8>Pellett Bloomberg Radio.

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<v Speaker 2>All right, Charlie, thank you. Credit Card Company is falling

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<v Speaker 2>in early trading. The drop comes after President Trump said

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<v Speaker 2>that credit card lenders would be in violation of the

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<v Speaker 2>law if they do not heed his call to cap

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<v Speaker 2>interest rates at ten percent for one year. Right now,

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<v Speaker 2>Capital One and Synchrone Financial are both down about nine percent,

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<v Speaker 2>and American Express is down more than four percent.

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<v Speaker 3>Walmart Karen is up more than three and a half percent.

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<v Speaker 3>The retail giant's getting ready to join the NASDAQ one

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<v Speaker 3>hundred index, replacing Astra Zeneca. The change takes effect before

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<v Speaker 3>the market opens January twentieth. Walmart's edition follows its move

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<v Speaker 3>last year to shift its stock listing from the New

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<v Speaker 3>York Stock Exchange to the Nasdaq.

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<v Speaker 2>And in Europe, Nathan Heinegan looking for a new boss.

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<v Speaker 2>CEO Dolph benden Brink is stepping down after six years

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<v Speaker 2>at the Helm of the Brewer. The move comes months

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<v Speaker 2>after the company warn't on profit overfalling beer sale. Time

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<v Speaker 2>now for look at some of the other stories making

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

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<v Speaker 2>never joined by Bloomberg's Michael Barr Michael, good morning.

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<v Speaker 10>Good morning Karen. About sixteen thousand nurses at New York

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<v Speaker 10>City hospitals are set to strike any moment now. If

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<v Speaker 10>the union does not reach a contract agreement with private

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<v Speaker 10>hospitals soon, it would be considered the largest nurses strike

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<v Speaker 10>in city history. Their contract expired December thirty first, The union,

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<v Speaker 10>the New York State Nurses Association, is still in talks

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<v Speaker 10>with those private hospitals. They want higher pay and safer

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<v Speaker 10>working conditions. It comes as flu cases are spiking In

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<v Speaker 10>New York, Governor Kathy Hochele has declared a state of

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<v Speaker 10>emergency ahead of the potential strike, pleading with both sides

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<v Speaker 10>to stay at the table.

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<v Speaker 13>This could jeopardize the lives of thousands of New Yorkers

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<v Speaker 13>and patients.

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<v Speaker 10>Forty two states, including New York, are seeing high or

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<v Speaker 10>very high levels of flu activity. A plan protest in Westwood, California,

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<v Speaker 10>by Los Angeles' Iranian community was disrupted Sunday afternoon when

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<v Speaker 10>a U haul truck drove into the crowd. After running

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<v Speaker 10>to get out of the way, people went after the driver,

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<v Speaker 10>dragging him out of the cab of the box truck.

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<v Speaker 10>LAPD Captain Richard Galbadon was asked about charges against the driver.

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<v Speaker 10>It's an open traffic investigation.

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<v Speaker 4>We're looking a possible assault with the daily weapon, the

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<v Speaker 4>daily weapon being the vehicle of being used.

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<v Speaker 10>But that's all going right now, Captain Galbadon says. The

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<v Speaker 10>driver's identity has not been released and is being treated

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<v Speaker 10>at a local hospital for injuries. Paul Thomas Anderson's Ragtag

0:09:39.200 --> 0:09:43.600
<v Speaker 10>revolutionary saga One Battle after Another and the Shakespeare drama

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<v Speaker 10>Hamnet took top honors at Sunday's eighty third Golden Globes,

0:09:47.960 --> 0:09:51.400
<v Speaker 10>Anderson became just the second filmmaker in Golden Globes history

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<v Speaker 10>to ever sweet Best Film, Best Director, and Best Screenplay.

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<v Speaker 10>Only Oliver Stone were born on the fourth of July nine,

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<v Speaker 10>is the same feet Timothy Chalamay won his first Golden

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<v Speaker 10>Globe for Marty Supreme.

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<v Speaker 14>My dad instilled in me a spirit of gratitude growing up.

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<v Speaker 14>Always be grateful for what you have. It's allowed me

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<v Speaker 14>to leave the ceremony in the past empty handed, my

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<v Speaker 14>head held high, grateful just to be here. But I'd

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<v Speaker 14>be lying if I didn't say those moments didn't make

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<v Speaker 14>this moment that much sweeter.

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<v Speaker 10>Centners won for Best Score in Cinematic and Box Office Achievement.

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<v Speaker 10>The ceremony was broadcast on CBS Global News twenty four

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<v Speaker 10>hours a day and whenever you want it with Bloomberg News. Now.

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<v Speaker 10>I'm Michael Barr, and this is Bloomberg Karen.

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<v Speaker 2>Thanks Michael all the time. Now for our Bloomberg Sports Update,

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<v Speaker 2>and for that we bring in John Stashauer.

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<v Speaker 10>Thanks Daring.

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<v Speaker 6>The NFL playoff tripleheader begin in Jacksonville. The Bills and

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<v Speaker 6>Jaguars six lead changes four in the fourth quarter, Josh

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<v Speaker 6>Allen's touchdown Ronald just over a minute to play gave

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<v Speaker 6>Buffalo a twenty seven to twenty four victory. It's the

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<v Speaker 6>Bill's first playoff road win since nineteen ninety two. Next,

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<v Speaker 6>top Philadelphia, the forty nine ers a trick play touchdown

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<v Speaker 6>first play of the fourth quarter, and then with five

0:10:59.160 --> 0:11:01.719
<v Speaker 6>minutes to go, Christian McCaffrey scored on a past with

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<v Speaker 6>Rock Purty. Niners dethroned the Eagles twenty three to nineteen.

0:11:05.440 --> 0:11:08.079
<v Speaker 6>Last night, the Patriots beat the Chargers sixteen to three.

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<v Speaker 6>That's your Bloomberg Sports Update.

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<v Speaker 2>Stay with us more from Bloomberg day Break coming up

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<v Speaker 2>after this.

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

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<v Speaker 1>and around the world on Bloomberg dot Com and the

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

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<v Speaker 3>Good morning, I'm Nathan Hager. The Federal Reserve is facing

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<v Speaker 3>even more political and legal pressure now, with chair J.

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<v Speaker 3>Powell saying the Justice Department has served subpoenas against the

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<v Speaker 3>Central Bank over his testimony about the FEDS building renovations.

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<v Speaker 3>But Powell is vowing to stand firm.

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<v Speaker 5>Public service sometimes requires standing firm In the face of threats.

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<v Speaker 5>I will continue to do the job the SAT confirmed

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<v Speaker 5>me to do with integrity and a commitment to serving

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<v Speaker 5>the American people.

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<v Speaker 3>I was chair Powell in a video statement last night

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<v Speaker 3>and this morning we're joined by Bloomberg's DC Breaking News

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<v Speaker 3>editor Alexander Pearce and alex to say there's new pressure

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<v Speaker 3>on the FED maybe a real understatement. Now, what do

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<v Speaker 3>we know more about these subpoenas that the chairman announced

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<v Speaker 3>last night?

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<v Speaker 15>Good morning, Good morning, Nathan. Yes, this was really quite

0:12:18.640 --> 0:12:22.679
<v Speaker 15>an escalatory move by the Trumpan administration yesterday, and so

0:12:22.760 --> 0:12:27.040
<v Speaker 15>far we've actually heard very little from the administration. We

0:12:27.120 --> 0:12:31.760
<v Speaker 15>got this announcement from Chairman Powell about the subpoenas, but

0:12:32.040 --> 0:12:34.400
<v Speaker 15>we've not yet heard from the Department of Justice or

0:12:34.440 --> 0:12:38.559
<v Speaker 15>Attorney General Pampondi. Yet, we did get some comments from

0:12:38.600 --> 0:12:42.280
<v Speaker 15>President Trump yesterday as he was traveling, saying that he

0:12:42.360 --> 0:12:45.400
<v Speaker 15>was not aware of the subpoenas, but he thought that

0:12:45.440 --> 0:12:49.120
<v Speaker 15>they had nothing to do with interest rates. As Chairman

0:12:49.240 --> 0:12:53.560
<v Speaker 15>Powell contended that the move was about, well.

0:12:53.360 --> 0:12:56.160
<v Speaker 3>We are getting some information though, aren't we, about who

0:12:56.200 --> 0:13:00.400
<v Speaker 3>may be behind these subpoenas. I mean, has been an

0:13:00.480 --> 0:13:04.760
<v Speaker 3>ongoing pressure campaign as you say, against the Federal Reserve

0:13:04.800 --> 0:13:06.239
<v Speaker 3>coming out of the Trump administration.

0:13:07.600 --> 0:13:08.160
<v Speaker 8>Absolutely.

0:13:08.240 --> 0:13:11.560
<v Speaker 15>Yeah, so we do have this has not been confromed

0:13:11.640 --> 0:13:13.640
<v Speaker 15>yet officially, but we have we have our own reporting

0:13:14.000 --> 0:13:19.200
<v Speaker 15>indicating that the fine the Housing Finance Director Bill Poulti

0:13:19.679 --> 0:13:23.040
<v Speaker 15>was really a driving force behind the subpoenas he's long

0:13:23.120 --> 0:13:26.360
<v Speaker 15>been a very vehement critic of j. Powell and also

0:13:26.400 --> 0:13:32.080
<v Speaker 15>the Federal Reserve's pace of cutting rates last year. And

0:13:32.160 --> 0:13:33.880
<v Speaker 15>we yeah, we have it that he has been sort

0:13:33.920 --> 0:13:36.240
<v Speaker 15>of pushing this, but he's obviously.

0:13:35.880 --> 0:13:36.360
<v Speaker 14>Has a.

0:13:37.760 --> 0:13:41.120
<v Speaker 15>In Trump, someone who is also very much believing that

0:13:41.240 --> 0:13:44.360
<v Speaker 15>the Federal Reserve has not been cutting rates aggressively enough

0:13:45.000 --> 0:13:47.880
<v Speaker 15>and has now you know, it's now escalated to this

0:13:47.920 --> 0:13:49.800
<v Speaker 15>point where actually there's a there's a threat of a

0:13:49.800 --> 0:13:50.880
<v Speaker 15>criminal indictment.

0:13:51.520 --> 0:13:54.839
<v Speaker 3>And we know that the Chairman Poulty has also been

0:13:54.880 --> 0:13:58.320
<v Speaker 3>a driving force behind the pressure campaign on FED Governor

0:13:58.400 --> 0:14:02.200
<v Speaker 3>Lisa Cook, the accusations of mortgage fraud that continue to

0:14:02.240 --> 0:14:04.640
<v Speaker 3>play themselves out in the courts. Put this in that

0:14:04.800 --> 0:14:08.240
<v Speaker 3>context as well. I mean, it really does seem like

0:14:08.280 --> 0:14:11.640
<v Speaker 3>there is just unrelenting pressure on the FED at this moment.

0:14:12.960 --> 0:14:16.360
<v Speaker 15>Yeah. Absolutely, it really just keeps escalating and as you say,

0:14:16.600 --> 0:14:22.160
<v Speaker 15>another Federal Board member, Lisa Cook, is also under investigation

0:14:22.240 --> 0:14:24.880
<v Speaker 15>for alleged mortgage fraud that's now going to go to

0:14:24.960 --> 0:14:30.320
<v Speaker 15>the Supreme Court. And you know, this is all basically,

0:14:31.240 --> 0:14:33.360
<v Speaker 15>at its most simple level, it's really just the Trump

0:14:33.360 --> 0:14:37.280
<v Speaker 15>administration's frustration with the Federal Reserve as it is constituted

0:14:37.360 --> 0:14:41.160
<v Speaker 15>right now, in its caution with cutting interest rates. J

0:14:41.320 --> 0:14:44.840
<v Speaker 15>Powell and other Federal Reserve Board members are still a

0:14:44.840 --> 0:14:49.840
<v Speaker 15>bit cautious about elevated inflation, about inflationary pressures from tariffs,

0:14:50.240 --> 0:14:51.920
<v Speaker 15>and so they have been cutting, but cutting at a

0:14:51.960 --> 0:14:56.400
<v Speaker 15>relatively cautious rate sort of pace. And Trump and his

0:14:56.520 --> 0:14:59.920
<v Speaker 15>allies have, you know, repeatedly ever since taking office last year,

0:15:00.240 --> 0:15:02.840
<v Speaker 15>for far more aggressive stance on interest rates.

0:15:03.120 --> 0:15:05.640
<v Speaker 3>And what could this mean for some of the other

0:15:05.760 --> 0:15:08.120
<v Speaker 3>aspects of this that we're watching going forward? I mean,

0:15:08.160 --> 0:15:11.240
<v Speaker 3>we're expecting that President Trump at any moment really is

0:15:11.640 --> 0:15:16.080
<v Speaker 3>going to be announcing his replacement for chair Powell. What

0:15:16.160 --> 0:15:18.600
<v Speaker 3>kind of pressure does that potentially put on who that

0:15:18.680 --> 0:15:19.520
<v Speaker 3>next pick could be.

0:15:21.040 --> 0:15:24.840
<v Speaker 15>That's right, So currently President Trump is considering a number

0:15:24.840 --> 0:15:28.720
<v Speaker 15>of names to replace Chairman Powell when his term as

0:15:29.280 --> 0:15:34.160
<v Speaker 15>chairman ends in May. And really these moves against Chairman

0:15:34.240 --> 0:15:36.960
<v Speaker 15>Powell and other members of the Federal Reserve is also

0:15:37.040 --> 0:15:41.400
<v Speaker 15>seen as a signal to whoever succeeds J. Powell in

0:15:41.440 --> 0:15:45.040
<v Speaker 15>that position, obviously with the intention of making sure that

0:15:45.080 --> 0:15:48.760
<v Speaker 15>they toe somewhat toe the line of the administration when

0:15:48.760 --> 0:15:50.640
<v Speaker 15>it comes to setting monetary policy.

0:15:52.520 --> 0:15:56.040
<v Speaker 3>And we've also heard from at least one Republican Senator,

0:15:56.440 --> 0:16:00.280
<v Speaker 3>Tom Tillis, saying that with this kind of pressure sure

0:16:00.480 --> 0:16:04.520
<v Speaker 3>on Chairman Powell, he may be reticent to cast any

0:16:04.640 --> 0:16:07.920
<v Speaker 3>vote in favor of confirmation for the next FED chair.

0:16:07.960 --> 0:16:10.760
<v Speaker 3>I mean, it puts a signal out there as well,

0:16:10.760 --> 0:16:13.880
<v Speaker 3>doesn't it that whoever comes out there is going to

0:16:13.920 --> 0:16:16.560
<v Speaker 3>face a pretty tough road for confirmation while this continues

0:16:16.560 --> 0:16:17.160
<v Speaker 3>to play out.

0:16:18.600 --> 0:16:21.800
<v Speaker 15>Absolutely, and it's notable given that Tom Tillis is also

0:16:21.840 --> 0:16:28.200
<v Speaker 15>Republican senator, and you know that is also just emblematic

0:16:28.240 --> 0:16:31.400
<v Speaker 15>of really quite a lot of anxiety not just within government,

0:16:31.440 --> 0:16:34.160
<v Speaker 15>within Congress, but also in the wider markets. As to

0:16:34.400 --> 0:16:36.800
<v Speaker 15>Trump's campaign here, there is a sort of sense that

0:16:37.320 --> 0:16:41.320
<v Speaker 15>he won't really go too far in threatening FED independence,

0:16:41.360 --> 0:16:43.760
<v Speaker 15>but you know, each move that he makes has been

0:16:43.840 --> 0:16:48.720
<v Speaker 15>quite escalatory, and that's probably led people like Senator Tillis

0:16:48.760 --> 0:16:51.920
<v Speaker 15>to come out and really quite vehemently oppose what's being

0:16:51.960 --> 0:16:55.080
<v Speaker 15>done and to threaten the nomination of any future nominee

0:16:55.120 --> 0:16:56.120
<v Speaker 15>to the Federal Reserve Board.

0:16:56.440 --> 0:16:58.800
<v Speaker 3>And while we continue to watch this pressure on the Fed,

0:16:59.240 --> 0:17:02.920
<v Speaker 3>we're monitoring the developments as well in Iran, where the

0:17:03.000 --> 0:17:06.680
<v Speaker 3>regime there appears to be under the kind of pressure

0:17:06.760 --> 0:17:10.159
<v Speaker 3>that it hasn't seen in many years of these street

0:17:10.200 --> 0:17:12.880
<v Speaker 3>protests that have been underway since late last year.

0:17:12.920 --> 0:17:16.600
<v Speaker 15>What's the latest there, Alex, Yeah, So it's now entering

0:17:16.640 --> 0:17:20.960
<v Speaker 15>his third week of quite violent protests in Iran, with

0:17:21.600 --> 0:17:24.200
<v Speaker 15>hundreds of people who have been killed, thousands have been arrested,

0:17:24.359 --> 0:17:28.840
<v Speaker 15>and President Trump has ever since they erupted, voiced very

0:17:28.840 --> 0:17:32.880
<v Speaker 15>strong support for the protesters, without really elaborating what kind

0:17:32.880 --> 0:17:36.440
<v Speaker 15>of support he might offer them. Last night, he did

0:17:36.480 --> 0:17:40.080
<v Speaker 15>say that he was considering military options, and there was

0:17:40.119 --> 0:17:43.560
<v Speaker 15>a report from the Wall Street Journal yesterday or earlier, sorry,

0:17:43.560 --> 0:17:46.199
<v Speaker 15>that said that he would meet with some of his

0:17:46.520 --> 0:17:51.000
<v Speaker 15>senior advisers to discuss those options. It's not really clear

0:17:51.040 --> 0:17:52.720
<v Speaker 15>what exactly he might choose. There are a number of

0:17:52.720 --> 0:17:55.359
<v Speaker 15>things he could do. There could be a direct military strike,

0:17:55.400 --> 0:17:57.160
<v Speaker 15>that could be some sort of cyber attack that could

0:17:57.160 --> 0:18:00.320
<v Speaker 15>be maybe a tightening of sanctions on Iran. So right

0:18:00.359 --> 0:18:02.680
<v Speaker 15>now we don't really know where the administration is leaning,

0:18:02.680 --> 0:18:06.159
<v Speaker 15>but they're certainly considering an action that could be quite

0:18:06.640 --> 0:18:09.760
<v Speaker 15>severe for Iran should these protests continue.

0:18:10.000 --> 0:18:13.119
<v Speaker 3>It's kind of difficult at this point to gauge just

0:18:13.359 --> 0:18:17.320
<v Speaker 3>how serious a threat these protests are to the regime,

0:18:17.400 --> 0:18:21.800
<v Speaker 3>given that the Internet is blocked in much of the country.

0:18:21.800 --> 0:18:23.879
<v Speaker 3>But what is the sense that we're hearing from some

0:18:24.000 --> 0:18:28.080
<v Speaker 3>activist groups and other observers as to where this could

0:18:28.119 --> 0:18:31.400
<v Speaker 3>go from here with these protests continuing. Alex got about

0:18:31.440 --> 0:18:32.040
<v Speaker 3>a minute left.

0:18:33.520 --> 0:18:37.200
<v Speaker 15>Yeah, I mean, really, it's the most sort of These

0:18:37.240 --> 0:18:41.119
<v Speaker 15>protests are the biggest challenge for the Islamic Republic since

0:18:41.200 --> 0:18:44.919
<v Speaker 15>really nineteen seventy nine, according to many observers, given that

0:18:44.920 --> 0:18:49.240
<v Speaker 15>they that the economy is not doing well. There is

0:18:49.280 --> 0:18:51.800
<v Speaker 15>a currency crisis right now and that actually sparked these

0:18:51.840 --> 0:18:55.360
<v Speaker 15>protests a couple of weeks ago, and going forward, they're

0:18:55.400 --> 0:18:58.400
<v Speaker 15>not really showing any signs of abating, and so if

0:18:58.400 --> 0:19:01.800
<v Speaker 15>they continue, it could be a threat for the regime there.

0:19:02.320 --> 0:19:07.320
<v Speaker 15>And as you say, we don't really know with crystal

0:19:07.920 --> 0:19:11.680
<v Speaker 15>clarity what's going on on the ground, but Trump himself,

0:19:11.720 --> 0:19:14.800
<v Speaker 15>as she did, say yes that he would potentially contact

0:19:14.920 --> 0:19:17.720
<v Speaker 15>Elon Muster try and get a Starling connection to try

0:19:17.800 --> 0:19:21.280
<v Speaker 15>and get more information about what's happening there, just given

0:19:21.280 --> 0:19:23.479
<v Speaker 15>that we can't, given that the internet's been cut off

0:19:23.520 --> 0:19:25.639
<v Speaker 15>in the country, know all of the facts.

0:19:26.920 --> 0:19:30.360
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