March 26, 2026: Trump Moves to Pay TSA Agents, Delays Hormuz Deadline, More

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News when you want it with Bloomberg News now, I'm Charlie Pellet.

President Trump says he will sign an order to pay TSA officers with details. Here's Bloomberg's Nora Melinda.

We really haven't seen a resolution as we think about the back and forth between Democrats and Republicans as it already relates to funding.

So it's actually a bit unclear as to whether or not President Donald Trump actually has the unilateral authority to make this happen,

especially because it would be essentially bypassing or circumventing Congress.

And so we'll have to see because they typically are the ones of course that weigh in on any sort of federal spending.

Bloomberg's Nora Melinda.

The president's unilateral action comes amid a week's long funding fight over the Department of Homeland Security that has led to staffing shortages and long wait times for air travelers.

President Trump meanwhile pushing back his deadline for Iran to strike a deal with the United States or face further attacks.

He made the comments in a phone interview on Fox News Channel.

I gave them a 10-day period. They asked for seven.

You're going to say Trump's a terrible negotiator. They asked for seven.

And I said, I'm going to give you 10 because they gave me ships.

We talked about the eight ships. You know, the president that I talked about the other day.

But they asked for seven. And I gave them 10. You got 10 days.

And they were very thankful about that.

President Trump on Fox News.

The Pentagon is looking at sending up to 10,000 additional ground troops to the Middle East to give President Trump more military options.

Even as he weighs peace talks with Tehran.

Now that's according to the Wall Street Journal.

The force which would likely include infantry and armored vehicles would be added to the roughly 5,000 Marines and the thousands of paratroopers from the 82nd Airborne Division who've already been ordered to the region.

European Central Bank President Christine Lagarde is warning of complacency and assessing the fallout of the conflict in the Middle East.

She made the comment in an interview with the economist.

The technical experts are telling us in terms of capacity, extraction, refinery, distribution because too much has already been damaged.

And there is no way that it can be restored in a matter of months.

Most people are actually talking about years.

ACB President Christine Lagarde speaking with the economist.

Fed Vice Chair Philip Jefferson says the effects on the economy will greatly depend on how long energy prices remain elevated.

A short period of disruption is unlikely to have a noticeable effect on the economy beyond a quarter or two.

A sustained energy price shock, however, could have material implications.

Fed Vice Chair Philip Jefferson speaking at the Dallas Fed.

Meanwhile, Fed Governor Stephen Myron says the U.S. Central Bank can shrink its balance sheet meaningfully from current levels, but caution the process will take years and require several steps.

Lots of people who have gotten fed up with waiting in or fearing TSA lines have decided to drive instead.

And that has been boosting shares of rental car companies.

Averse up by 9%, Avis up 13% having more. Here's Bloomberg's Tom Busby.

With incredibly long lines in airport security, checkpoints and airfares on the rise because the war in Iran sent oil prices soaring higher.

A lot of vacationers are changing their getaway plans.

A ton of them are avoiding airports renting cars to drive to vacation instead of flying.

That said, shares of Hertz global on Thursday up 9%, Avis budget shares up 13%.

Now you just have to watch out for long lines at the rental car counter.

Tom Busby Bloomberg Radio

Per no record in Brown Foreman, the owner of Jack Daniels Whiskey are discussing a merger as the alcoholic drink companies look at ways to consolidate amid an industry downturn.

The French beverages company in Louisville Kentucky based Brown Foreman said in separate but similar statements that they are in talks to combine confirming an earlier report by Bloomberg News.

Sources tell Bloomberg SpaceX is telling prospective IPO investors to expect briefings in April from company executives as advisors scramble to file for potentially the biggest listing of all time.

The sources say billionaire Elon Musk's space and AI company is set to hold so-called testing the water's investor meetings in the weeks after the Easter hot of day.

The company is set to file confidentially as soon as this month for an IPO that could raise as much as $75 billion.

US stocks declined in the Thursday session extending a month of war driven swings, underscoring how geopolitical tensions continue to buff at markets.

Ray Ann Mitrione is founding partner and market strategist at Calon Family Office.

Right now I think everyone's hoping that we see some type of resolution and oil prices start to normalize but if they stay elevated I mean we've seen a complete inverse correlation between oil prices and equities.

And that could accelerate if we see some more escalation here.

Ray Ann Mitrione of Calon Family Office.

The S&P 500 index fell 114 points down 1.7%.

The Dow is down 469 down 1%, and has stacked down 2.4%.

And that's news when you want it with Bloomberg News now.

I'm Charlie Palette and this is Bloomberg.

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