California Governor Gavin Newsom joins Bloomberg Businessweek Editor Brad Stone for a wide ranging conversation from our San Francisco bureau. ...

And I'm curious your thoughts on what the president's talking about. He went on to write, as I told Iran once before, make a deal. They didn't.And there was Operation Midnight Hammer, a major destruction of Iran. The next attack will be far worse. What's about to happen.Well, Joe, that is a fantastic question. I mean, there is so much we learn from this tweet, because you're right, as you said, essentially all of the threats that Trump had made in the last couple of weeks against Iran and his whole stated r ...

You attended the Supreme Court hearing last week on the Lisa Cook case and Treasury Secretary Scott Bessen criticized that is political. Can you say why you attended and what you would say in response to the secretary's criticism. So let me start with I I don't respond to comments by other officials, whoever they may be.It's just not appropriate to do that. I will tell you why I attended. I would say that that case is perhaps the most important legal case in the Fed's 113 year history.And as I thought about ...

So what extent did the committee discuss the possibility of cutting at this meeting or in March. And how are you all thinking about the conditions that would merit another rate cut. Is there broad agreement on on the committee about what it would take. So there was broad support on the committee for holding.Today, broad, I would say, including among non-voters. So that's where that was. Of course, some people did want to cut and and dissented.But committee pretty broadly four four for holding today. We're n ...

The point of of independence is not to protect policymakers or anything like that. It just is that every advanced economy, democracy in the world has come around to this common practice. It's just an institutional arrangement that is that is served the people well, and that is to have a separation between.I do not have direct elected official control over the setting of monetary policy. And the reason is that monetary policy can be used, you know, through an election cycle to to affect the economy in a way ...

Our monetary policy actions are guided by our dual mandate to promote maximum employment and stable prices for the American people. At today's meeting, the committee decided to maintain the target range for the federal funds rate at three and a half to three and three quarters percent. Since last September, we have lowered our policy rate 75 basis points or three quarters of a percentage point, bringing it within a range of plausible estimates of neutral.This normalization of our policy stance should help s ...

>> LIVE FROM WASHINGTON, D. C. , THIS IS "BALANCE OF POWER," WITH JOE MATHIEU.JOE: AS WE COUNT DOWN TO THE FED, WELCOME TO THE WEDNESDAY EDITION WITH AN ANNOUNCEMENT ON INTEREST RATES POLICY STATEMENT JUST ABOUT ONE HOUR AWAY. WE WILL TALK ABOUT EXPECTATIONS FOR CATHERINE EDWARDS FROM BLOOMBERG OPINION AND GET A LIVE REPORT FROM TYLER KENDALL ON CAPITOL HILL WITH ONLY THREE DAYS TO A LIKELY PARTIAL GOVERNMENT SHUTDOWN. ANALYSIS FROM OUR POLITICAL PANEL, RICK DAVIS AND JEANNE SHEEHAN ZAINO ARE WITH US.FED DA ...

Well, pretty much as expected, John. No change in rates and the Fed leaves open the option of cutting rates in the future. Stephen, Myron and Chris Weiler, Dissent in favor of a rate cut.Michel Bowman does not. Waller's dissent, of course, could be read as an effort to retain his place as a finalist to replace Jay Powell later this year. The statement keeps the line about considering the extent and timing of additional adjustments to the target range, suggesting more rate cuts are possible.There's no hint, ...

Interest rates are one of the biggest tools the Fed has for influencing the economy. The December 2025 Fed dot plot signaled a cautious path with the median suggesting only one more rate cut in 2026. That means keeping rates higher for longer than markets anticipated.That created divergence with market expectations. So, how will risk assets react. Gold has long been a safe haven in times of volatility and obviously has been on a tear.Meanwhile, cryptocurrency has often been looked at as the cure all for unc ...

Silver's gain of 26% in December capped off a historical gain of 170% for 2025. While geopolitical instability and economic uncertainty have driven some safe haven buying in silver, tracking gold's 70% plus rise in 2025. Silver's surge continues to be amplified by its dual role as both a monetary asset and an indispensable industrial commodity.Factors like Federal Reserve interest rate cuts, a weakening US dollar, rising global debt, inflation concerns, and tariff uncertainties have fueled investor interest ...