On today's podcast:
1) President Trump expressed confidence that the European Union would continue to invest in the US even if he imposed new tariffs related to his quest to take control of Greenland, a proposal that has angered leaders on the continent. The president’s rare appearance in the White House briefing room came ahead of his departure Tuesday night from Washington for the World Economic Forum in Davos, Switzerland, where he will confront European leaders who are furious over his bid to take over the territory of a fellow NATO ally, Denmark. Earlier Tuesday, European Commission President Ursula von der Leyen said that Trump’s threats were a “mistake” that would violate the deal he forged last year with the bloc. Officials in Europe have begun drafting plans to retaliate, which could set off a tit-for-tat that may scuttle the accord.
2) Treasury Secretary Scott Bessent cautioned European nations against ramping up their military presence on Greenland and assailed France over calls to conduct a NATO exercise as European leaders brace for President Trump’s arrival at Davos. Bessent questioned the message European allies were sending following the recent decision by Denmark and seven other NATO countries to deploy a handful of officers to the island, which Trump has said he wants to make a part of the US.
3) Months after President Trump attempted to fire Federal Reserve Governor Lisa Cook over unproven mortgage fraud allegations, the case will get a hearing before the Supreme Court. The justices are scheduled to consider whether Trump can oust Cook while the legal fight over the allegations proceeds. The case is one element in an effort by Trump to exert more control over the Fed and pressure officials to significantly cut interest rates. Trump has repeatedly attacked Fed Chair Jerome Powell, who has resisted the president’s demands to resign.

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On today's podcast:
1) President Trump said he will meet with several parties over his ambition to take control of Greenland during the upcoming World Economic Forum. Trump said in a Truth Social post early Tuesday morning that he had a “very good telephone call” with Mark Rutte, the secretary general of NATO, concerning the Danish territory. The remarks came shortly after he restated his desire to take over Greenland, which has spooked NATO allies and prompted stern opposition from EU leaders including French President Emmanuel Macron. Meantime, Trump announced a 10% tariff on goods from European countries rallying to Denmark’s side in his pursuit of Greenland, a dramatic escalation in the standoff that sparked strong pushback from some of the US’s closest allies.
2) President Trump’s so-called Board of Peace for Gaza is beginning to take shape, even as Israel voiced rare objections to parts of the US president’s plan to build on the fragile ceasefire in the region. China has been offered to join the proposed Board of Peace, as Trump heads to Davos to advance his plan for the Palestinian enclave. The US president has invited a range of world leaders, including Russia’s Vladimir Putin and Turkey’s Recep Tayyip Erdogan, to become founding members of the board. It’s part of his 20-point plan to ensure a lasting peace and reconstruction of Gaza, following two years of devastating war between Israel and militant group Hamas in the Palestinian territory. President Trump also confirmed that he invited Russian President Vladimir Putin to join the proposed board.
3) Treasury Secretary Scott Bessent said President Trump could announce his pick for the next Federal Reserve chair as soon as next week, amid intense anticipation over the White House’s search for a new central-bank chief. “We have four fantastic candidates — it will be up to the president, and I would imagine that he will have an announcement maybe as early as next week,” Bessent said in remarks at a press conference Tuesday at Davos, where he is attending the World Economic Forum. The process of picking a successor to current Chair Jerome Powell is seen as a four-person race, with BlackRock Inc.’s Rick Rieder, National Economic Council Director Kevin Hassett, Fed Governor Christopher Waller and former governor Kevin Warsh as the final contenders after a long-search that has been led by Bessent.

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On this special MLK Holiday edition of Bloomberg Daybreak, host Nathan Hager discusses:

• Stocks are coming off three straight years of double digit gains..What will 2026 hold? We hear from Cameron Dawson, the Chief Investment Officer at NewEdge Wealth and Lori Calvasina, head of US equity strategy, RBC Capital Markets
• Lost in the recent controversy over the investigation into Jay Powell and the Fed...Is monetary policy. Next week the central bank makes its first rate decision of the year. For more, we speak with Bloomberg International Economics and Policy Correspondent Michael McKee and Anna Wong, Chief US Economist for Bloomberg Economics
• We also look at the current status of Diversity Equity and Inclusion initiatives. For that we speak wit Bloomberg's Equality Reporter Jeff Green and Bloomberg reporter Heather Landy.

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