00:00One thing we know is coming next is the first Fed decision of the year, 2 p.m. Eastern.
00:05Today the Fed is widely expected to hold rate steady and the decision comes as chair Powell can.
00:10The Fed continues to face scrutiny from the White House.
00:12Michael McKee, Bloomberg's International Economics and Policy.
00:15The Fed correspondent joins us now who's in Washington for the decision.
00:19Mike, what are you going to.
00:20Be looking out for in a meeting where we're likely to get no change.
00:25Well, we might get a news void at the Federal Reserve, Danny, because the Fed isn't expecting.
00:30to change interest rates.
00:31Here's what we are watching.
00:33Of course, that decision will be announced.
00:35At 2 p.m. Wall Street time in a statement released by the federal.
00:40Reserve Open Market Committee.
00:41And the follow on question is, do the words additional.
00:45adjustments to the Federal Reserve rate appear in that document.
00:50suggesting that it's still an open question about whether they cut rates again in the future.
00:55We'll also be watching to see who else dissents.
00:58We're going to start from the proposition that.
01:00Stephen Myron will dissent and whether politics or policy dominate.
01:05What is going on and the questions that are asked of Jay Powell.
01:10The dissent or disappear question is posed by Bloomberg economics week.
01:15We concede Myron's going to dissent, but there's Chris Waller because he's considered one of the.
01:20Possibilities for the Fed chair and if he doesn't dissent, does that right.
01:25Do we end up the day with Rick Reeder and Chris Waller off the board?
01:30We don't know.
01:30It's all Donald Trump.
01:31We'll have to find out.
01:33But the real suspense, I think, is going to be.
01:35Whether or not the president is whether or not the chairman is.
01:40We're going to engage the president again and talk about his efforts to.
01:45control the Fed or whether he's going to try to disengage, figuring it could only hurt the markets.
01:50At this point and say he doesn't have much to add to what he's already said.
01:53I wonder.
01:55I wonder why Scott Bessent won't agree to do the job.
01:58President Trump has said he wants.
02:00The Treasury secretary to run the Fed and apparently, you know.
02:05Bessent has demurred saying he would prefer to stay at Treasury.
02:09Why?
02:10Isn't it like an incredible honor to be picked to run the Federal Reserve?
02:15Well, I suppose it could be.
02:20I consider that and many people would thus accept the job.
02:25But as you know, you're a friend whom everybody likes.
02:27I hear Neil Dutta is pushing for.
02:30But Bessent has a job that encompasses a lot more than.
02:35Just monetary policy.
02:36If you're the Fed chair, you're going to deal with monetary policy.
02:39But that's about.
02:40Hit other than managing the day to day operations of the Fed where.
02:45Bessent can get involved in just about every international and national.
02:50debate right now, and it is probably more interesting to him than joining.
02:55The Fed, however, because this is Donald Trump, can't rule it out.
03:00Wow, Neil's ears must be burning this morning.
03:04Hey, Mike, thank you.
03:05Thank you so much.
03:05Looking forward to your coverage of the Fed decision.
03:08Don't miss that.
03:08It's our special coverage.
03:10Kicks off at 1.30 p.m. New York time.
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