Bloomberg News Now: Fed Chair Doubts, Ukraine Talks, EU Probe

Federal Reserve Leadership and Policy Doubts

• 💡 Kevin Hassett, a potential nominee for Federal Reserve chair, faces doubts from institutional investors regarding his ability to drive the committee towards rapid interest rate cuts desired by President Trump.
• 🎯 Gregory Peters of PJM Fixed Income suggests Hassett may lack the necessary credibility within the committee to build consensus for such cuts.
• ⚠️ Questions about Fed independence are expected to persist regardless of who is appointed as the next Fed chair.

Potential White House Economic Appointments

• 📌 Discussions are underway for Treasury Secretary Steven Mnuchin to also lead the National Economic Council, potentially giving him significant influence over the administration's economic portfolio.
• 🚀 This dual role would grant Mnuchin a West Wing office, increasing his proximity to the President.

Ukraine Peace Talks and Diplomatic Efforts

• 💬 President Trump described recent talks in Moscow between U.S. envoys and Russian officials as "reasonably good," following a "very useful" meeting.
• 🤝 Despite positive descriptions, no breakthrough has been reported on key demands such as territory or Ukraine's NATO aspirations.
• 📉 U.S. envoys Jared Kushner and Stephen Metcalf are continuing discussions with a Ukrainian negotiator, but previous rounds of talks have ended inconclusively due to Moscow's hardline demands.

Defense Secretary Pete Hegseth Controversy

• ⚠️ The Pentagon's acting inspector general concluded that Pete Hegseth risked endangering troops by sharing attack plans against Houthi rebels on the Signal messaging app.
• ⚖️ While Hegseth claims authorization and that no classified information was shared, the IG's report disputes these claims, though a Pentagon spokesman called the report "totally inaccurate."

China-France Relations and EU Probe into Meta

• 🤝 French President Emmanuel Macron met with Chinese leader Xi Jinping in Beijing to discuss economic ties, trade tensions, Taiwan, and the war in Ukraine.
• 🌍 Macron urged Xi to support Europe's stance on Ukraine and warned against the "disaggregation of the world order."
• 🔍 Meta Platforms faces an antitrust investigation from the European Union over features in its WhatsApp messaging service, with concerns that new policies could prevent rival providers from offering business services through the platform.
• 💰 If found in breach of EU rules, Meta could face fines of up to 10% of its global annual revenue.