Bloomberg News Now: Greenland Takeover, Fed Chair Debate, and Social Media Bill

US Stance on Greenland Takeover

• 🇺🇸 Treasury Secretary Scott Bessent asserts the U.S. will not retract its plan for taking over Greenland, citing Europe's perceived weakness in ensuring its own security.
• 🇪🇺 Bessent believes the plan is beneficial for Greenland, Europe, and the United States, despite some European lawmakers calling for a halt to a U.S.-EU trade truce.
• 🇫🇷 France is considering activating the EU's trade bazooka, an anti-coercion instrument, to pressure policy choices.

Supreme Court and Trump Tariffs

• 🏛️ The Supreme Court is expected to rule on whether President Trump's emergency tariffs will take effect, with a decision anticipated this Tuesday.
• ⏳ If a ruling is not made this week, it could be delayed due to the court's month-long break scheduled after Wednesday.

Fed Governor Lisa Cook and Potential Replacements

• ⚖️ Oral arguments are scheduled for Wednesday regarding the President's authority to fire Fed Governor Lisa Cook, who denies accusations of mortgage fraud.
• 📉 Former Fed Chair Janet Yellen warns that a ruling in Trump's favor would be devastating, suggesting a weaponization of the Justice Department.
• 🏦 Trump has previously attempted to fire Fed Chair Jerome Powell. White House economic adviser Kevin Hassett is a potential candidate to replace Powell, though no final decision has been made.

Trump's Economic Agenda and Global Stage

• 🌍 President Trump's economic and geopolitical agenda will be presented at the World Economic Forum in Davos, Switzerland.
• 🏠 Hassett indicated that Trump plans to announce a proposal allowing staffers to use funds from 401k retirement plans for home down payments.

Domestic Issues: Protests, Health, and Social Media

• 🚨 Violent clashes are occurring in Minneapolis amid pro-ICE demonstrations, with the FBI and Pentagon placing personnel on standby.
• 📈 The CDC reports a significant surge in flu and measles cases, with last year marking the highest number of measles cases in the U.S. since the early nineties, predominantly affecting unvaccinated children and teens.
• 📱 A bill, the Kids Off Social Media Act (Kozma), aims to ban social media access for children under 13 and remove their existing accounts, but faces concerns regarding free speech and privacy.