Episode summary
Record Blizzard Cleanup; Trump’s 10% Levy Takes Effect | Bloomberg Daybreak: US Edition
Bloomberg Daybreak: US Edition
· · 22 min
Summary
The morning focused on two major stories: the Northeast blizzard and the political and economic fallout around President Trump’s State of the Union. On the weather front, the storm produced record and near-record snowfall, with Providence at 38 inches, Boston around 31.5 inches, and New York City near 19.5 to 19.7 inches. The host and an analyst said the cleanup will take days, with more than 11,000 flights grounded and more than 500,000 homes and businesses without power as roads, rail service, and sidewalks remain hazardous.
The political discussion centered on tariffs and Iran as the likely headline issues in Trump’s speech. The host said Trump is expected to keep pressing his tariff agenda even after the Supreme Court struck down his preferred method of imposing global tariffs, while advisers hope he also emphasizes the economy and housing affordability. A guest said the president is going into the address with sagging approval ratings and limited room to reset voter concerns.
Markets were also moving around tariff news and deal activity. The host noted that the new 10% global levy is now in effect and that the White House is considering additional probes that could lead to more tariffs. The program also flagged higher futures after an AI-led selloff, a raised Paramount Skydance bid for Warner Bros. Discovery, and Jamie Dimon warning that the credit cycle could eventually sour.
Key takeaways
- The host said Providence set an all-time snowfall record at 38 inches, with Boston and New York City also hit hard.
- The guest said the Northeast will keep seeing small follow-on systems, but nothing as severe as the blizzard just passed.
- The host said Trump’s State of the Union is likely to center on tariffs and Iran, even as his approval ratings sag.
- A guest said the White House wants Trump to stress the economy, tax cuts, and housing affordability, but the policy details remain thin.
- The host said Trump’s new 10% global tariffs are in effect and the administration may push them as high as 15%.
Notable quotes
“Providence setting an all-time record of 38 in 37.9 to be exact”
“More than 11,000 flights have been grounded through today. More than 500,000 homes and businesses without power”
“The president's new 10% global tariffs are now in effect, but he doesn't plan to stop there”
How the episode opens
Bloomberg Audio Studios podcasts, radio news. — Good morning. I'm Nathan Hager — And I'm Karen Moscow. Here are the stories we're following today.
Karen, let's begin with details on the historic blizzard that pounded the east coast. Bloomberg meteorologist Craig Allen's been following the storm every step of the way and is here with us now. So Craig, what kind of accumulation totals are we looking at here?
Yeah, indeed. Historic because there are some history making numbers here. Not so much DC.
Let's start around DC and work our way on up. There was about 2 to 4 in of a slushy snow around DC, but there were some areas that were closer to uh the 5 to 10 in mark if you were near the coast or in some of the suburbs. On up to Philadelphia, 14 in.
New York City, 19.7 in. That puts it in the top 10 snowiest storms for the New York City area. 18 to 24 though in some of the suburbs and even as much as 32 in for parts of Long Island and on up into coastal Connecticut.
And then up to Boston, 31.8. But before we get to Boston, it was a record-breaking snow in the history of recordkeeping for Providence. 38 in of snow from this particular storm.
Highest snow totals ever. Highest wind totals were 80 to 85 miles per hour out across Nantucket and Malkque. Temperatures this morning are in the 20s and obviously that means that we have some refreezing going on out there as well.
Well, are we expecting that we're going to get any break in the temperatures so we can start to dig out of this thing? — Uh we will. It will get milder for a while this weekend, but it doesn't come uh cheaply.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- winter storm impacts
- state of the union tariffs
- credit card affordability
- global tariffs
- power and flight disruptions
Watch the episode
Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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