Trump Seeks Greenland Negotiations at Davos | Balance of Power: Early Edition 1/21/2026

Summary

Balance of Power covers President Trump’s Davos speech, the Supreme Court arguments over whether he can fire Fed Governor Lisa Cook, and Lael Brainard's pushback on the administration's economic claims. The program also examines Trump's Greenland pressure campaign, NATO trust concerns, and US-Russia talks to end the Ukraine war. Market-relevant takeaways center on Fed independence risks and the potential for higher US interest rates if political pressure continues.

• Supreme Court justices appeared skeptical of the White House effort to fire Fed Governor Lisa Cook over mortgage-fraud allegations she denies.
• Fed Governor Cook said she will uphold Fed independence; Powell and Bernanke were reportedly in the courtroom.
• Lael Brainard said inflation is not defeated, near 3%, and that threats to Fed independence could push interest rates higher.
• Trump spoke at Davos, ruling out military force in Greenland while keeping pressure on Denmark and NATO.
• NATO Secretary General Rutte said allies would defend the US if attacked, but Trump expressed doubt.
• Steve Witkoff said Ukraine peace talks are 90% complete and he will travel to Moscow with Jared Kushner.
• Panelists debated the rupture in US-NATO trust and the political messaging in Trump’s Davos address.
• State Department spokesman Tommy Pigott said tariffs are among US options in the Greenland dispute.