1
00:00:00,080 --> 00:00:07,040
Speaker 1: Bloomberg Audio Studios, Podcasts, radio News.

2
00:00:10,039 --> 00:00:13,200
Speaker 2: Good morning, I'm Nathan Hager and I'm Karen Moscow. Here

3
00:00:13,200 --> 00:00:14,960
Speaker 2: are the stories we're following today.

4
00:00:15,280 --> 00:00:18,079
Speaker 3: Karen, it is a big day as we await mag

5
00:00:18,200 --> 00:00:21,360
Speaker 3: seven earnings and this afternoon's FED decision. But we begin

6
00:00:21,600 --> 00:00:24,959
Speaker 3: in Washington, where President Trump has been shaking up the

7
00:00:25,000 --> 00:00:28,000
Speaker 3: federal government on a number of levels. Let's start with

8
00:00:28,040 --> 00:00:31,280
Speaker 3: the latest development. The President is offering buyouts to federal

9
00:00:31,320 --> 00:00:33,680
Speaker 3: workers who don't want to comply with his demands to

10
00:00:33,720 --> 00:00:36,840
Speaker 3: return to the office full time. A memo titled Fork

11
00:00:36,840 --> 00:00:39,559
Speaker 3: in the Road says the payments will run through September thirtieth,

12
00:00:39,760 --> 00:00:43,479
Speaker 3: as long as the employees decide to resign by February sixth.

13
00:00:43,840 --> 00:00:47,080
Speaker 3: Democratic Senator Tim Kaine isn't buying the president's offer.

14
00:00:47,560 --> 00:00:50,000
Speaker 4: He's tricked hundreds of people.

15
00:00:49,760 --> 00:00:50,479
Speaker 5: With that offer.

16
00:00:51,200 --> 00:00:53,920
Speaker 4: If you accept that offer and resign, he'll stiff you,

17
00:00:54,080 --> 00:00:57,279
Speaker 4: just like he stiffed the contractors. He don't have any

18
00:00:57,320 --> 00:00:58,400
Speaker 4: authority to do this.

19
00:00:59,760 --> 00:01:01,800
Speaker 5: Do not be fooled by this guy.

20
00:01:02,040 --> 00:01:05,160
Speaker 3: Democrat Tim Kaine spoke on the Senate floor last night.

21
00:01:05,240 --> 00:01:07,600
Speaker 3: The memo from the Office of Personnel Management says the

22
00:01:07,600 --> 00:01:12,120
Speaker 3: Trump administration is seeking a more streamlined and flexible workforce.

23
00:01:12,000 --> 00:01:12,520
Speaker 6: Well, Nathan.

24
00:01:12,520 --> 00:01:15,080
Speaker 2: The buyout offer comes after a surprise moved by the

25
00:01:15,120 --> 00:01:18,480
Speaker 2: President to block trillions of dollars in governments spending, only

26
00:01:18,560 --> 00:01:21,560
Speaker 2: to have it blocked by a federal judge. On Monday night,

27
00:01:21,600 --> 00:01:24,520
Speaker 2: the White House ordered agencies to pause all federal assistants

28
00:01:24,560 --> 00:01:27,200
Speaker 2: to make sure it aligns with President Trump's agenda. The

29
00:01:27,280 --> 00:01:29,960
Speaker 2: move led many offices across the country to question whether

30
00:01:30,000 --> 00:01:33,400
Speaker 2: it would affect medical research, anti poverty program, state and

31
00:01:33,400 --> 00:01:36,520
Speaker 2: local aid. White House Deputy Chief of Staff Stephen Miller

32
00:01:36,600 --> 00:01:39,279
Speaker 2: says the review process would only last ninety days.

33
00:01:39,600 --> 00:01:43,119
Speaker 7: It's a review process to say that there's for discretionary

34
00:01:43,160 --> 00:01:46,479
Speaker 7: spending as not directed by Congress or required by law.

35
00:01:46,680 --> 00:01:49,360
Speaker 7: So this would be, for example, something like a contract

36
00:01:49,440 --> 00:01:53,560
Speaker 7: to a non governmental organization to teach, say, critical race theory.

37
00:01:54,000 --> 00:01:56,360
Speaker 2: But the confusion led the White House to issue a

38
00:01:56,480 --> 00:01:59,920
Speaker 2: second memo saying things like medicaid, social security, and rental

39
00:02:00,080 --> 00:02:03,120
Speaker 2: assistance would be left intact. But the order is on

40
00:02:03,200 --> 00:02:06,320
Speaker 2: hold for now. As we hear from Bloomberg's Derek Wallbank.

41
00:02:06,040 --> 00:02:09,200
Speaker 8: A federal judge did come in and stay a lot

42
00:02:09,240 --> 00:02:12,280
Speaker 8: of this order, basically said no We're going to keep

43
00:02:12,320 --> 00:02:15,400
Speaker 8: this going now, but I want to have some arguments

44
00:02:15,440 --> 00:02:17,720
Speaker 8: come in later, so that'll be something that we'll have

45
00:02:17,760 --> 00:02:20,600
Speaker 8: to watch coming up next week and beyond. There will

46
00:02:20,680 --> 00:02:22,200
Speaker 8: be a lot of court action here.

47
00:02:22,520 --> 00:02:25,520
Speaker 2: Bloombergs Derek Wallbank reports that memo gets into a thorny

48
00:02:25,520 --> 00:02:29,079
Speaker 2: constitutional issue whether the president has authority to halt spending

49
00:02:29,120 --> 00:02:31,119
Speaker 2: that Congress has already approved.

50
00:02:31,320 --> 00:02:34,760
Speaker 3: Staying in Washington, Karen Robert F. Kennedy Junior is facing

51
00:02:34,800 --> 00:02:37,560
Speaker 3: confirmation hearings today as he aims to become the next

52
00:02:37,560 --> 00:02:41,040
Speaker 3: Health and Human Services secretary. Bloomberg's Amy Morris has a

53
00:02:41,040 --> 00:02:42,079
Speaker 3: preview from Washington.

54
00:02:42,480 --> 00:02:45,880
Speaker 9: In prepared testimony for the Senate Committee seen by Bloomberg News,

55
00:02:45,919 --> 00:02:49,280
Speaker 9: Kennedy says he's neither anti vaccine nor anti industry, and

56
00:02:49,360 --> 00:02:51,960
Speaker 9: he says all of his children are vaccinated. Back in

57
00:02:52,000 --> 00:02:55,400
Speaker 9: twenty twenty three, though he linked vaccines to autism, something

58
00:02:55,480 --> 00:02:56,880
Speaker 9: scientists dispute do.

59
00:02:57,080 --> 00:02:59,560
Speaker 5: Believe that autism does come from vaccines.

60
00:03:00,080 --> 00:03:02,520
Speaker 9: Today, he says he believes vaccines should be left up

61
00:03:02,520 --> 00:03:06,040
Speaker 9: to the parent, not mandated. His cousin, Caroline Kennedy, has

62
00:03:06,080 --> 00:03:09,200
Speaker 9: a plea for senators, something her son posted on x

63
00:03:09,480 --> 00:03:10,120
Speaker 9: I urge.

64
00:03:09,919 --> 00:03:11,800
Speaker 6: The Senate to reject his nomination.

65
00:03:12,320 --> 00:03:15,440
Speaker 9: RFK Junior also changed his stance on abortion after former

66
00:03:15,520 --> 00:03:19,200
Speaker 9: Vice President Mike Pence opposed his nomination. In Washington, Amy

67
00:03:19,200 --> 00:03:20,240
Speaker 9: Moore as Bloomberg Radio.

68
00:03:20,320 --> 00:03:23,000
Speaker 3: All right, Amy, thank you, and to hear RFK Junior's confirmation.

69
00:03:23,080 --> 00:03:25,840
Speaker 3: Hearing stay with Bloomberg. We will have full coverage starting

70
00:03:25,880 --> 00:03:28,399
Speaker 3: at ten am Wall Street time right here on Bloomberg

71
00:03:28,480 --> 00:03:32,440
Speaker 3: Radio and on the Bloomberg podcast page on YouTube.

72
00:03:32,680 --> 00:03:35,280
Speaker 2: Well, Nathan, President Trump has threatened to impose at twenty

73
00:03:35,320 --> 00:03:38,760
Speaker 2: five percent tariff on Canadian goods on Saturday.

74
00:03:38,400 --> 00:03:39,480
Speaker 6: February first.

75
00:03:39,760 --> 00:03:43,480
Speaker 2: Christia Freeland, who is running to succeed Prime Minister Justin Trudeau,

76
00:03:43,920 --> 00:03:47,240
Speaker 2: is urging the government not to wait to respond. Bloomberg's

77
00:03:47,280 --> 00:03:50,440
Speaker 2: David Guraz in Toronto for an exclusive sit down with Freeland.

78
00:03:50,800 --> 00:03:54,000
Speaker 10: Christia Freeland sent shockwaves through Canada when she stepped down

79
00:03:54,000 --> 00:03:57,960
Speaker 10: as Prime Minister Trudeau's deputy in December. In her resignation letter,

80
00:03:58,080 --> 00:04:01,360
Speaker 10: she accused him of failing to prepare Canada adequately for

81
00:04:01,440 --> 00:04:04,480
Speaker 10: a second Trump term. Now, Freeland is making a bid

82
00:04:04,480 --> 00:04:07,000
Speaker 10: to lead Canada's Liberal Party and to be the next

83
00:04:07,040 --> 00:04:10,600
Speaker 10: Prime minister, and she says weakness is a provocation for

84
00:04:10,680 --> 00:04:14,720
Speaker 10: President Trump, and capitulation is not a negotiating strategy.

85
00:04:14,880 --> 00:04:15,680
Speaker 6: Well, I think we.

86
00:04:15,640 --> 00:04:22,159
Speaker 11: Should start responding today. I think that we should publish

87
00:04:22,400 --> 00:04:27,480
Speaker 11: for consultation a retaliation list. I think it should be massive, right,

88
00:04:27,560 --> 00:04:30,640
Speaker 11: it should be two hundred billion. That's not saying that

89
00:04:30,680 --> 00:04:34,280
Speaker 11: we retaliate at two hundred billion, but giving us like

90
00:04:34,400 --> 00:04:37,800
Speaker 11: a menu, like a s'morgus board of choices. And we

91
00:04:37,880 --> 00:04:42,039
Speaker 11: need to publish it now because when President Trump says

92
00:04:42,160 --> 00:04:44,279
Speaker 11: America first, I believe them.

93
00:04:44,360 --> 00:04:48,200
Speaker 10: Freeland says Canada needs to appeal directly to Americans so

94
00:04:48,240 --> 00:04:50,800
Speaker 10: they understand what's at stake if there's a trade war

95
00:04:51,360 --> 00:04:51,960
Speaker 10: in Toronto.

96
00:04:52,200 --> 00:04:55,640
Speaker 3: David Gura, Bloomberg Radio. Okay, David, thank you. Turning to

97
00:04:55,720 --> 00:04:59,440
Speaker 3: markets now. Tech stocks saw rebound on Wall Street yesterday.

98
00:04:59,480 --> 00:05:02,680
Speaker 3: It came as we have new developments involving the Chinese

99
00:05:02,760 --> 00:05:04,800
Speaker 3: artificial intelligence startup Deep Seek.

100
00:05:04,960 --> 00:05:07,200
Speaker 5: For that, We're joined by Bloomberg's John Tucker.

101
00:05:07,320 --> 00:05:09,400
Speaker 12: Morning, John and Nate. Let's start with the market's. A

102
00:05:09,680 --> 00:05:12,960
Speaker 12: relative sense of calm prevailed after that pretty rough start

103
00:05:13,000 --> 00:05:15,599
Speaker 12: to the week, following a plunge that erased almost six

104
00:05:15,680 --> 00:05:19,479
Speaker 12: hundred billion dollars in value. Monday, in Vidia rallied eight

105
00:05:19,480 --> 00:05:22,760
Speaker 12: point nine percent, a punishing sell off, and tech stocks

106
00:05:22,760 --> 00:05:26,679
Speaker 12: spelled opportunity for DIMP buyers. Following the round, investors poord

107
00:05:26,960 --> 00:05:30,040
Speaker 12: four point three billion dollars into the tech heavy Invesco

108
00:05:30,160 --> 00:05:35,400
Speaker 12: qqq etf, its biggest one day haul in three years now. Meantime,

109
00:05:35,520 --> 00:05:37,599
Speaker 12: some of the shine may have come off the Chinese

110
00:05:37,680 --> 00:05:41,640
Speaker 12: AI startup Deep Seek. Sources say Microsoft and open Ai

111
00:05:41,760 --> 00:05:46,120
Speaker 12: are investigating whether the data output from open ais technology

112
00:05:46,640 --> 00:05:50,360
Speaker 12: was obtained in an unauthorized manner by a group linked

113
00:05:50,440 --> 00:05:53,800
Speaker 12: to deep Seek. In New York, Ime, John Tucker Bloomberg Radio.

114
00:05:54,000 --> 00:05:54,800
Speaker 6: Right, John, thank you.

115
00:05:54,839 --> 00:05:59,800
Speaker 2: All shares of ASML are soaring there, up almost nine percent. Overseas,

116
00:06:00,040 --> 00:06:02,840
Speaker 2: Touch companies booking orders were worth twice as much as

117
00:06:02,839 --> 00:06:06,800
Speaker 2: analysts expected, as the artificial intelligence boom fuels demand for

118
00:06:06,839 --> 00:06:08,080
Speaker 2: its chip making machines.

119
00:06:08,279 --> 00:06:10,760
Speaker 3: And the tech earning story is going to continue here

120
00:06:10,800 --> 00:06:12,640
Speaker 3: in the US. Karen, We're going to start to get

121
00:06:12,640 --> 00:06:15,880
Speaker 3: results of the Magnificent seven today. Let's get a preview

122
00:06:15,920 --> 00:06:18,040
Speaker 3: now from Bloomberg's tom busby.

123
00:06:17,920 --> 00:06:22,000
Speaker 13: Microsoft, Meta and Tesla, all reporting their latest quarterly results today.

124
00:06:22,080 --> 00:06:24,840
Speaker 13: Revenue at Microsoft is expected to grow eleven percent, its

125
00:06:24,839 --> 00:06:27,440
Speaker 13: slowest increase in a year and a half. Meta expected

126
00:06:27,480 --> 00:06:29,920
Speaker 13: to post a seventeen percent spike in revenue, want to

127
00:06:29,960 --> 00:06:33,000
Speaker 13: boost in advertising. Investors will want to know more about

128
00:06:33,040 --> 00:06:35,760
Speaker 13: its plans to spend sixty five billion to grow out

129
00:06:35,760 --> 00:06:39,239
Speaker 13: its AI strategy. And Tesla expected to report weaker gross

130
00:06:39,320 --> 00:06:43,080
Speaker 13: margins after slashing prices on vehicles and because of unfavorable

131
00:06:43,080 --> 00:06:46,080
Speaker 13: exchange rates, but investors eager to hear a timeline for

132
00:06:46,120 --> 00:06:50,240
Speaker 13: its long awaited lower priced vehicle. Tom Busby, Bloomberg.

133
00:06:49,760 --> 00:06:51,360
Speaker 6: Radio, all right, Tom, thank you all.

134
00:06:51,400 --> 00:06:54,160
Speaker 2: Turning to the economy, we get the Fed's first policy

135
00:06:54,200 --> 00:06:57,680
Speaker 2: decision of the year and the first Donald Trump back

136
00:06:57,680 --> 00:06:58,480
Speaker 2: in office.

137
00:06:58,600 --> 00:06:59,760
Speaker 6: Bloomberg's Michael McKee is.

138
00:06:59,760 --> 00:07:02,960
Speaker 14: A discretion is likely the better part of valor for

139
00:07:03,000 --> 00:07:06,880
Speaker 14: the Fed today. With inflation sticky and Donald Trump's fiscal

140
00:07:06,920 --> 00:07:10,280
Speaker 14: policies incomplete and unclear, there's a little reason for the

141
00:07:10,320 --> 00:07:12,840
Speaker 14: central bankers to make a move on interest rates now.

142
00:07:13,280 --> 00:07:15,920
Speaker 14: The same logic applies to Chair Jay Powell in his

143
00:07:16,080 --> 00:07:19,200
Speaker 14: post meeting news conference. Expect him to try to make

144
00:07:19,240 --> 00:07:23,640
Speaker 14: as little news as possible, avoiding forecasts and dodging any

145
00:07:24,040 --> 00:07:27,400
Speaker 14: what would you do if questions after cutting rates one

146
00:07:27,440 --> 00:07:30,520
Speaker 14: hundred basis points over the past three meetings. This one

147
00:07:30,640 --> 00:07:34,480
Speaker 14: may be the quietest in some time. Michael McKee, Bloomberg Radio.

148
00:07:34,680 --> 00:07:35,720
Speaker 6: All right, Mike, thank you well.

149
00:07:35,720 --> 00:07:38,760
Speaker 2: Stay tuned for Bloomberg's live coverage of the FED decision.

150
00:07:38,800 --> 00:07:41,440
Speaker 2: It begins at one thirty pm Wall Street Time on

151
00:07:41,480 --> 00:07:44,800
Speaker 2: Bloomberg Radio and the Bloomberg Podcast.

152
00:07:44,280 --> 00:07:46,120
Speaker 6: Page on YouTube.

153
00:07:48,840 --> 00:07:50,040
Speaker 2: Time Now for a look at some of the other

154
00:07:50,120 --> 00:07:52,160
Speaker 2: stories making news in New York and around the world,

155
00:07:52,160 --> 00:07:54,240
Speaker 2: and for that we're joined by Bloomberg's Michael Barr.

156
00:07:54,320 --> 00:07:56,040
Speaker 5: Michael, good morning, Good morning, Karen.

157
00:07:56,120 --> 00:07:58,600
Speaker 15: There were at least three ice raids in New York

158
00:07:58,680 --> 00:08:02,080
Speaker 15: City on Tuesday. At least twenty people were taken into custody.

159
00:08:02,400 --> 00:08:06,240
Speaker 15: Frank Tarantino deea Special Agent in charge of the New

160
00:08:06,320 --> 00:08:09,720
Speaker 15: York Division, says more multi agency raids are likely.

161
00:08:10,040 --> 00:08:12,640
Speaker 16: This is part of the drug trafficking community. This is

162
00:08:12,720 --> 00:08:15,760
Speaker 16: exactly what we are designed to do and as to

163
00:08:15,800 --> 00:08:19,240
Speaker 16: target the most significant drug traffickers and drug trafficking organizations

164
00:08:19,240 --> 00:08:21,600
Speaker 16: who are causing the most harm, and some of those

165
00:08:21,640 --> 00:08:23,360
Speaker 16: happened to be criminal legal aliens.

166
00:08:23,880 --> 00:08:27,160
Speaker 15: Newly sworn in DHS Secretary Christy Nomes showed up for

167
00:08:27,360 --> 00:08:30,640
Speaker 15: a major arrest in the Bronx. President Trump will signed

168
00:08:30,640 --> 00:08:34,120
Speaker 15: the lacln Riley Act into law today. The House passed

169
00:08:34,200 --> 00:08:36,800
Speaker 15: the legislation a week ago. Named for a twenty two

170
00:08:36,920 --> 00:08:40,000
Speaker 15: year old nursing student in Georgia who was murdered by

171
00:08:40,040 --> 00:08:44,000
Speaker 15: an undocumented immigrant, The bill expands the federal government's mandate

172
00:08:44,040 --> 00:08:48,280
Speaker 15: to detain undocumented immigrants. Former New Jersey Senator Bob and

173
00:08:48,440 --> 00:08:51,360
Speaker 15: Endes will be sentenced alongside two co defendants in a

174
00:08:51,400 --> 00:08:56,720
Speaker 15: New York courtroom after being convicted on sixteen counts of bribery, extortion, conspiracy,

175
00:08:56,920 --> 00:09:00,840
Speaker 15: and obstruction of justice. The trial for his wife on

176
00:09:01,000 --> 00:09:05,040
Speaker 15: similar bribery and corruption charges has been postponed until March

177
00:09:05,040 --> 00:09:09,480
Speaker 15: as she continues treatment for breast cancer. Benndez's lawyers filed

178
00:09:09,480 --> 00:09:12,439
Speaker 15: emotion for a new trial, which the trial judge did not.

179
00:09:13,040 --> 00:09:15,560
Speaker 15: The White House confirmed what the Biden administration had said

180
00:09:15,600 --> 00:09:19,040
Speaker 15: in December those drones flying over New Jersey near President

181
00:09:19,080 --> 00:09:23,319
Speaker 15: Trump's Bedminster golf resort were not a threat. New White

182
00:09:23,320 --> 00:09:25,400
Speaker 15: House Press Secretary Caroline Levitt.

183
00:09:25,760 --> 00:09:28,160
Speaker 11: The drones that were flying over New Jersey and large

184
00:09:28,240 --> 00:09:32,320
Speaker 11: numbers were authorized to be flown by the FAA for

185
00:09:32,559 --> 00:09:34,800
Speaker 11: research and various other reasons.

186
00:09:34,960 --> 00:09:38,559
Speaker 15: Spokesperson Levin ads some of the drones also belonged to hobbyists.

187
00:09:38,840 --> 00:09:41,280
Speaker 15: Global news twenty four hours a day and whenever you

188
00:09:41,320 --> 00:09:43,720
Speaker 15: want it with Bloomberg News. Now. I'm Michael Barrn. This

189
00:09:43,840 --> 00:09:44,839
Speaker 15: is Bloomberg Karen.

190
00:09:45,000 --> 00:09:46,320
Speaker 6: All right, Michael barr thank you.

191
00:09:51,120 --> 00:09:53,320
Speaker 2: Time now for the Bloomberg Sports Update, brought to you

192
00:09:53,360 --> 00:09:57,319
Speaker 2: by Tri State Audi. Here's John stash Hour, John, good morning.

193
00:09:57,040 --> 00:09:59,840
Speaker 17: Good morning herein the Saint John's Red Storm and joined

194
00:09:59,840 --> 00:10:02,720
Speaker 17: their the best season in forty years, completed a seven

195
00:10:02,760 --> 00:10:05,120
Speaker 17: and oh month of January with a second.

196
00:10:04,760 --> 00:10:05,839
Speaker 5: Win over Georgetown.

197
00:10:05,880 --> 00:10:08,839
Speaker 17: It was easy in DC sixty six to forty one.

198
00:10:08,880 --> 00:10:11,760
Speaker 17: They held the Hoyas to twenty five percent, shooting. Saint

199
00:10:11,800 --> 00:10:14,640
Speaker 17: John's now eighteen and three time for first of the

200
00:10:14,640 --> 00:10:16,720
Speaker 17: Big East under the direction of their hall of fame

201
00:10:16,760 --> 00:10:18,680
Speaker 17: coach Rick Patino at.

202
00:10:18,640 --> 00:10:22,360
Speaker 18: Fifty years of coaching. The one thing I've learned the

203
00:10:22,360 --> 00:10:25,400
Speaker 18: most important word around is humility.

204
00:10:25,800 --> 00:10:26,440
Speaker 13: Being humbled.

205
00:10:26,520 --> 00:10:29,160
Speaker 18: That allows you to keep getting better, That allows you

206
00:10:29,240 --> 00:10:32,720
Speaker 18: now to embrace success, that allows you to stay grounded

207
00:10:32,800 --> 00:10:35,760
Speaker 18: and know who you are. We know Georgetown computers, we

208
00:10:35,840 --> 00:10:38,200
Speaker 18: know Providence compete us, so we know everybody compat us,

209
00:10:38,640 --> 00:10:40,160
Speaker 18: but we're getting better and better.

210
00:10:39,960 --> 00:10:40,880
Speaker 5: And better as well.

211
00:10:40,920 --> 00:10:43,480
Speaker 17: As things have gone this season for Saint John's, that's

212
00:10:43,480 --> 00:10:46,120
Speaker 17: how poorly it's gone for Seaton Hall. Pirates lost by

213
00:10:46,120 --> 00:10:48,280
Speaker 17: two to Providence, now one to nine in the Big East.

214
00:10:48,280 --> 00:10:50,719
Speaker 17: Michigan State now nine to zero in the Big Ten.

215
00:10:50,840 --> 00:10:53,640
Speaker 17: Spartans are out of Minnesota. Showdown in the SEC Kentucky

216
00:10:53,640 --> 00:10:57,040
Speaker 17: one at Tennessee NBA, and Philly Sixers beat the Lakers.

217
00:10:57,040 --> 00:11:00,840
Speaker 17: Tyrese Maxi scored forty three Nixon Nuggets to at the Garden,

218
00:11:00,880 --> 00:11:04,360
Speaker 17: where the Rangers got shut out by Carolina four nothing

219
00:11:04,440 --> 00:11:06,720
Speaker 17: so two home losses after the Rangers had gotten at

220
00:11:06,760 --> 00:11:09,200
Speaker 17: least a point in ten straight games. They are again

221
00:11:09,240 --> 00:11:11,880
Speaker 17: now on the outside looking in for a playoff spot,

222
00:11:11,920 --> 00:11:13,679
Speaker 17: as are the Islanders, but they had a big third

223
00:11:13,760 --> 00:11:16,960
Speaker 17: period at Ubs, scoring four times to beat Colorado five

224
00:11:17,000 --> 00:11:20,120
Speaker 17: to two. Bruins lost in Buffalo seven to two, Capitals

225
00:11:20,160 --> 00:11:22,160
Speaker 17: one in Calgary three to one. Spring training begins in

226
00:11:22,200 --> 00:11:23,840
Speaker 17: a couple of weeks and Pete a Lonzo.

227
00:11:23,840 --> 00:11:24,840
Speaker 5: Still without a team.

228
00:11:24,880 --> 00:11:27,400
Speaker 17: A report from the Mets Network SNY that he and

229
00:11:27,400 --> 00:11:30,160
Speaker 17: his agent Scott for Us, are willing to go perhaps

230
00:11:30,240 --> 00:11:33,640
Speaker 17: well into spring training before signing John Stashed.

231
00:11:33,679 --> 00:11:35,120
Speaker 5: We're Bloomberg Sports.

232
00:11:36,800 --> 00:11:41,000
Speaker 1: Coast to coast on Bloomberg Radio, nationwide on Sirius XM,

233
00:11:41,120 --> 00:11:43,960
Speaker 1: and around the world on Bloomberg dot Com and the

234
00:11:44,000 --> 00:11:47,080
Speaker 1: Bloomberg Business opp This is Bloomberg Daybreak.

235
00:11:47,240 --> 00:11:48,600
Speaker 5: Good morning. I'm Nathan Hager.

236
00:11:48,679 --> 00:11:52,520
Speaker 3: President Trump's bid to shake up Washington is sending shockwaves

237
00:11:52,600 --> 00:11:55,840
Speaker 3: across the country, and the latest move is a buyout

238
00:11:55,880 --> 00:11:59,120
Speaker 3: offer to federal workers who don't want to return to

239
00:11:59,160 --> 00:12:02,920
Speaker 3: the office for time. Democratic Senator Tim Kaine is sounding

240
00:12:02,920 --> 00:12:04,359
Speaker 3: a warning, you will.

241
00:12:04,120 --> 00:12:07,800
Speaker 4: Regret it, just like these contractors regretted it. Who did

242
00:12:07,840 --> 00:12:09,959
Speaker 4: work for this guy when he was a businessman man.

243
00:12:10,040 --> 00:12:12,439
Speaker 3: The biot offer comes after the White House moved to

244
00:12:12,480 --> 00:12:15,680
Speaker 3: block trillions of dollars in government spending, only to have

245
00:12:15,720 --> 00:12:19,480
Speaker 3: a judge put that order on hold less than twenty

246
00:12:19,480 --> 00:12:23,640
Speaker 3: four hours later. Joining us now, Bloomberg's Kevin whitelaw It

247
00:12:23,679 --> 00:12:26,760
Speaker 3: has been a pretty head spinning couple of hours in

248
00:12:26,960 --> 00:12:29,320
Speaker 3: the nation's capital and beyond.

249
00:12:29,400 --> 00:12:30,199
Speaker 5: Kevin, good morning.

250
00:12:30,240 --> 00:12:32,760
Speaker 3: Let's start with this new buyout offer just because it

251
00:12:32,880 --> 00:12:35,920
Speaker 3: is the newest thing something we've seen in the private sector.

252
00:12:35,920 --> 00:12:38,199
Speaker 5: But is it going to fly in the federal government.

253
00:12:38,760 --> 00:12:41,640
Speaker 19: Well, you know, obviously Donald Trump is in the business

254
00:12:42,080 --> 00:12:44,760
Speaker 19: he thinks of trying to shrink the government. Some would

255
00:12:44,760 --> 00:12:47,679
Speaker 19: say break the government, some would say fix the government.

256
00:12:48,480 --> 00:12:50,760
Speaker 19: But one way or the other, he is looking to

257
00:12:52,720 --> 00:12:56,760
Speaker 19: essentially get rid of a number of federal employees that

258
00:12:56,800 --> 00:13:01,679
Speaker 19: he sees are an obstacle to enacting his agenda. Federal

259
00:13:01,679 --> 00:13:04,120
Speaker 19: government workers obviously say that they're applying the law, they

260
00:13:04,160 --> 00:13:06,720
Speaker 19: work for part they work, they're non partisan, they work.

261
00:13:06,640 --> 00:13:07,480
Speaker 5: For whichever party.

262
00:13:07,520 --> 00:13:11,240
Speaker 19: That's the entire ethos of the federal bureaucracy. But that's

263
00:13:11,240 --> 00:13:13,080
Speaker 19: definitely not the way Donald Trump sees it. So the

264
00:13:13,080 --> 00:13:15,839
Speaker 19: buyout offer is very much an effort to just say, well,

265
00:13:16,200 --> 00:13:19,800
Speaker 19: here's one way out. And obviously I think Donald Trump

266
00:13:19,840 --> 00:13:22,600
Speaker 19: knows that some of the broader efforts, which we expect

267
00:13:22,600 --> 00:13:26,760
Speaker 19: to include reclassifying a bunch of federal employees, longtime civil

268
00:13:26,840 --> 00:13:31,400
Speaker 19: service employees as political into political roles so that they

269
00:13:31,400 --> 00:13:33,839
Speaker 19: can be fired, that's going to get challenged in court.

270
00:13:33,920 --> 00:13:35,920
Speaker 19: So I do think this is sort of an effort

271
00:13:35,960 --> 00:13:37,760
Speaker 19: to say, well, you know, if people want an easy

272
00:13:37,760 --> 00:13:40,200
Speaker 19: way out here, it is, and I think it's not

273
00:13:40,480 --> 00:13:43,360
Speaker 19: entire It's not coincidental that this sort of comes amid

274
00:13:43,360 --> 00:13:46,199
Speaker 19: all of these orders to free spending and the broader

275
00:13:46,240 --> 00:13:49,480
Speaker 19: tumult over what the role of the federal government is

276
00:13:49,520 --> 00:13:51,640
Speaker 19: going to be in the coming years.

277
00:13:51,760 --> 00:13:54,400
Speaker 3: Well, let's talk about this order that's now been put

278
00:13:54,440 --> 00:13:57,560
Speaker 3: on hold at least temporarily by a federal judge. Was

279
00:13:57,640 --> 00:14:00,960
Speaker 3: really interesting to see that this was seen as a

280
00:14:01,000 --> 00:14:06,000
Speaker 3: review to ensure that spending that's been authorized by Congress

281
00:14:06,320 --> 00:14:09,160
Speaker 3: aligns with President Trump's agenda.

282
00:14:09,320 --> 00:14:10,839
Speaker 5: I mean, where could this go from here?

283
00:14:11,440 --> 00:14:14,680
Speaker 19: Well, obviously it was stopped almost immediately, but it has

284
00:14:14,760 --> 00:14:17,720
Speaker 19: still uh, you know, at least temporarily by a judge.

285
00:14:17,720 --> 00:14:19,520
Speaker 5: But it will still.

286
00:14:19,360 --> 00:14:23,120
Speaker 19: Cause all kinds of confusion over what the role is

287
00:14:23,160 --> 00:14:25,800
Speaker 19: of the federal government when it comes to this, because obviously,

288
00:14:25,840 --> 00:14:29,280
Speaker 19: normally spending is Congress's purview, and so I do think

289
00:14:29,320 --> 00:14:32,880
Speaker 19: it does raise some very fundamental questions over exactly how

290
00:14:32,960 --> 00:14:37,080
Speaker 19: and where and when the money is authorized and spent.

291
00:14:37,240 --> 00:14:40,000
Speaker 19: So it's not clear that this Republican Congress is going

292
00:14:40,040 --> 00:14:42,760
Speaker 19: to want to take on the president over this issue.

293
00:14:42,760 --> 00:14:46,480
Speaker 19: But normally it is something that that that prerogative that

294
00:14:46,520 --> 00:14:50,280
Speaker 19: Congress has, that that lawmakers have defended very very seriously

295
00:14:50,760 --> 00:14:53,400
Speaker 19: in the meantime, it's caused all kinds of confusion and

296
00:14:53,520 --> 00:14:58,160
Speaker 19: disrupted payments to vendors and and to nonprofits and to

297
00:14:58,680 --> 00:15:02,120
Speaker 19: and to uh, you know, everything from school lunches to.

298
00:15:04,360 --> 00:15:05,680
Speaker 5: Other aid programs.

299
00:15:06,080 --> 00:15:08,760
Speaker 19: So I do think it is going to raise some

300
00:15:08,800 --> 00:15:13,800
Speaker 19: fundamental questions down the line over how reliable any of

301
00:15:13,840 --> 00:15:18,200
Speaker 19: these federal programs are for the people and the companies,

302
00:15:18,240 --> 00:15:20,160
Speaker 19: the contractors, and the workers that have all come to

303
00:15:20,200 --> 00:15:20,640
Speaker 19: depend on.

304
00:15:20,920 --> 00:15:23,040
Speaker 3: Just thirty seconds left, Kevin, But did we get any

305
00:15:23,040 --> 00:15:26,120
Speaker 3: clarity on what programs were covered under this order before

306
00:15:26,160 --> 00:15:27,800
Speaker 3: it was temporarily halted? I mean, they had to put

307
00:15:27,840 --> 00:15:31,160
Speaker 3: out two memos to try to provide some guidance, right.

308
00:15:31,080 --> 00:15:32,880
Speaker 19: It does seem that the first one was written so

309
00:15:32,960 --> 00:15:35,680
Speaker 19: broadly that it stopped all kinds of things they probably

310
00:15:35,760 --> 00:15:38,880
Speaker 19: didn't intend to that got noticed more widely than they intended.

311
00:15:38,960 --> 00:15:42,280
Speaker 19: I think the problem here is the Trump administration simply

312
00:15:42,400 --> 00:15:46,720
Speaker 19: underestimates just how important so many of these programs are

313
00:15:46,760 --> 00:15:49,080
Speaker 19: to so many people, including their own voters and their

314
00:15:49,120 --> 00:15:52,120
Speaker 19: own constituents, and their own party lawmakers and.

315
00:15:52,120 --> 00:15:52,880
Speaker 5: Their own party.

316
00:15:54,440 --> 00:15:57,880
Speaker 2: This is Bloomberg Daybreak, your morning podcast on the stories

317
00:15:57,960 --> 00:16:01,440
Speaker 2: making news from Wall Street to Washing and beyond.

318
00:16:01,240 --> 00:16:03,640
Speaker 3: Look for us on your podcast feed by six am

319
00:16:03,680 --> 00:16:07,040
Speaker 3: Eastern each morning, on Apple, Spotify, or anywhere else you listen.

320
00:16:07,280 --> 00:16:10,120
Speaker 2: You can also listen live each morning starting at five

321
00:16:10,160 --> 00:16:12,880
Speaker 2: am Wall Street Time on Bloomberg eleven three to zero

322
00:16:12,880 --> 00:16:15,800
Speaker 2: in New York, Bloomberg ninety nine to one in Washington,

323
00:16:15,840 --> 00:16:19,800
Speaker 2: Bloomberg ninety two nine in Boston, and nationwide on serious

324
00:16:20,000 --> 00:16:21,560
Speaker 2: XM Channel one twenty one.

325
00:16:21,960 --> 00:16:24,680
Speaker 3: Plus listen coast to coast on the Bloomberg Business app

326
00:16:24,720 --> 00:16:27,560
Speaker 3: now with Apple CarPlay and Android auto interfaces.

327
00:16:27,760 --> 00:16:30,800
Speaker 2: And don't forget to subscribe to Bloomberg News Now. It's

328
00:16:30,800 --> 00:16:33,520
Speaker 2: the latest news whenever you want it in five minutes

329
00:16:33,640 --> 00:16:36,760
Speaker 2: or less. Search Bloomberg News Now on your favorite podcast

330
00:16:36,800 --> 00:16:39,040
Speaker 2: platform to stay informed all day long.

331
00:16:39,320 --> 00:16:40,960
Speaker 6: I'm Karen Moscow.

332
00:16:40,720 --> 00:16:41,720
Speaker 5: And I'm Nathan Hager.

333
00:16:41,880 --> 00:16:43,920
Speaker 3: Join us again tomorrow morning for all the news you

334
00:16:43,960 --> 00:16:46,520
Speaker 3: need to start your day right here on Bloomberg Day

335
00:16:46,560 --> 00:16:46,720
Speaker 3: Ray