News when you want it with Bloomberg News Now, I'm Doug Prisner. President Trump will refrain from imposing tariffs on goods from those European nations opposed to his efforts to take possession of Greenland. Today, in a post on truth Social Trump cited the framework of a future deal reached with NATO Now. The post followed a meeting with NATO Secretary General Mark Ruta at the World Economic Forum in Davos. Afterwards, Trump spoke with reporters.
It's a long pridea. It's the ultimate long term U.
I think it puts everybody in a really good position, especially as it pertains to security and minerals.
Now.
The New York Times is reporting the discussions on a framework included a compromise in which Denmark would give the US sovereignty over small pockets of the territory's land for construction of military basis.
Now.
Trump's remarks on Greenland sparked a rally in stocks, bonds, and the dollar. Small cap shares outperformed, with the Russell twand and jumping two percent. The S and P five hundred picked up nearly one point two percent today, wiping out its drop for all of this year. We got reaction from Allison McCartney. She is managing director for wealth Management at UBS Financial Services.
There seems to be or markets are telling us that this was a lot of noise. We happen to be doing this, I think nicely in an earning season which is going extremely well and underpinning the fact that this bull market that began in late twenty twenty two, the things that are motivating it and sustaining it have not changed in the last forty eight hours.
Allison McCartney from UBS Alignment Partners. The Supreme Court seems wary of President Trump's effort to fire FED Governor Lisa Cook over unproven allegations of mortgage fraud. More from Bloomberg's Amy Morris.
In Washington, so li's Senor General John Souer argues that Cook isn't fit to serve the American people should not have their interest rates determined by someone who was at best grossly negligent and obtaining favorable interest rates for herself. But those allegations are unproven, and the justices seem to acknowledge that firing Cook could up end the Fed's independence. Justice Brent Kavanaugh expressed skepticism of there being no judicial review of the actions of the president.
Very low bar for cause that the president alone determines, and that would weaken, if not shatter, the independence of the Federal Reserve.
FED Governor Cook released a statement saying that as long as she serves at the Federal Reserve, she will uphold the principle of political independence. In Washington, Amy Morris Bloomberg Radio.
The notion of FED independence was brought up repeatedly by all parties during oral arguments in the Lisa Cook case. But for Kevin Hasset, the director of the National Economic Council, the FED crossed the line of being independent when Cher Powell warned about the impact of President Trump's tariffs.
For sure, you want to talk about inflation, but precisely then, right with President Trump's coming in and settigus tariff agenda, to have the FED criticize him, I think is inconsistent with the desire for independence.
Kevin Hassett, speaking there to Bloomberg on the sidelines of the World Economic Forum in Davos, Switzerland. We go to Texas next, where a jury has acquitted a former Uvaldi School's police officer, Adrian Gonzalez had been charged with failing in his duty to confront a gunman during an attack at rob Elementary in twenty twenty two. Here is his defense attorney, Jason Goss speaking after the verdict.
There was a narrative out there, and frankly, with all due respect, there was a false narrative out there, and so the true monster in the situation was lost.
And then it was all directed at Adrian, and so that was an uphill battle from day one.
The verdict came after about seven hours of deliberations following a three week trial. The Trump administration has won a temporary reprieve and a lawsuit over ICE tactics in Minnesota. Today, a US appeals court put on hold an order from a lower court that had restricted officers from interfering with protesters in the state. Meantime, in Maine, ICE has launched an operation targeting people in the state with a significant
Somali population. Local officials and residents have reported an increased presence of ICE agents. Here is Portland Mayor Mark Dion.
I want to respond to the fact that our communities feel anxious and fearful. They see this action as unpredictable and a threat to their family.
That is Portland Mayor Marke Dion. The season's largest winter storm will bring record breaking cold starting on Friday, and this storm is forecast to travel across Texas before going up the East Coast to New York and Boston. Here is Bloomberg meteorologist Craig Allen.
You've got this storm that is going to be affecting probably two dozen states at least down here across the US. And it's quite possible that hundreds of millions, two hundred million people are going to be affected by this storm.
That is Bloomberg Media urologist Craig Allen. Now, the storm is forecast to bring snow and ice through the South and mid Atlantic, and it raises the risk of widespread outages of power and disruption of air travel across the United States. And that is news when you want it with Bloomberg News. Now, I'm Doug Prisoner, and this is Bloomberg