Bloomberg Daybreak: US Edition
Trump Moves to Fire Fed Governor Cook; Trump Latest Tariff Threat
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Show notes
On today's podcast:
1) President Trump moves to fire Lisa Cook, but the Fed Governor says she's not going anywhere. It follows allegations that she falsified mortgage documents, citing "sufficient cause" to fire her. Cook said Trump has no authority to fire her, and she won't quit, with her lawyer planning to take "whatever actions are needed to prevent" Trump's "illegal action."
2) The president issues a new trade threat against countries with digital services taxes. President Trump threatened to impose fresh tariffs and export restrictions on advanced technology and semiconductors in retaliation against other nations’ digital services taxes. Trump said these taxes "are all designed to harm, or discriminate against, American Technology" and give a pass to China's largest tech companies.
3) French stocks fall as the country's Prime Minister calls a confidence vote. F2rench assets are under pressure due to concern the government will fall in a showdown over proposed budget cuts, according to Bloomberg.
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