The Fight for Fed Independence, Trump's Phone Call With Sen. Warren | Balance of Power 01/12/2026

Watch on YouTube ↗  |  January 13, 2026 at 01:02  |  47:58  |  Bloomberg Markets
Speakers
Romaine Bostick — Anchor, Bloomberg
Rick Davis — Republican Strategist, Partner at Stonecourt Capital
Michael McKee — International Economics & Policy Correspondent, Bloomberg
Elizabeth Warren — US Senator
Roger Marshall — US Senator (R-KS)
Multiple (Kate Sullivan — Head of Content, Blockworks

Summary

Bloomberg's Balance of Power covers the fight over Fed independence after DOJ subpoenas to Chair Powell, with Senator Warren and Senator Marshall reacting. It also covers Trump's new tariffs on countries doing business with Iran, possible military action, and a proposed 10% cap on credit-card interest rates that hit card issuers. A judge allowed Orsted to resume its Rhode Island wind project, and a political panel discussed Elon Musk's renewed ties to the Trump administration and defense spending.

  • DOJ subpoenas to the Federal Reserve raise Fed-independence concerns, but markets took the news largely in stride.
  • Senator Warren calls the probe a pretext to control the Fed; Senator Marshall questions Powell's past rate decisions.
  • Trump announced tariffs on countries doing business with Iran as protests continue and military options remain on the table.
  • President Trump's proposed 10% credit-card rate cap pressured Synchrony, Capital One, JPMorgan, and Bank of America.
  • A judge allowed Orsted to resume development of a Rhode Island offshore wind project, though U.S. policy risk remains.
  • A political panel discussed Elon Musk's influence, defense spending, and Republican midterm dynamics.
Ideas
Romaine Bostick Anchor, Bloomberg 14:27
Orsted legal win, still policy-watch.
A judge ruled that Orsted can resume development of its offshore wind farm project off Rhode Island while it challenges the Trump administration's stop-work order. The stock has plunged 50-60% from October highs on concerns about U.S. offshore wind policy, though it popped after hours on the ruling. Orsted plans to refocus more on the European market, where it sees greater stability. This is a developing legal and policy catalyst worth watching.
ORSTED MED
Romaine Bostick Anchor, Bloomberg 15:53
Credit-card cap threatens issuer profits.
President Trump's proposal to cap credit-card interest rates at 10% for at least a year is roughly half the Fed-measured average 21% rate. Romaine says that would be devastating for the profitability of companies that issue credit cards. Synchrony and Capital One have the biggest exposure and sold off sharply; JPMorgan and Bank of America were also dragged down even though financials had been among the best performers. Investors are concerned about how card companies would operate under a 10% cap.
SYF COF JPM BAC HIGH
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This Bloomberg Markets video, published January 13, 2026, features Romaine Bostick discussing ORSTED, SYF, COF, JPM, BAC. 2 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Romaine Bostick  · Tickers: ORSTED, SYF, COF, JPM, BAC