we welcome jenny kaplan.e us a little more context to what exactly attorney general jeff sessions it. he didn't so much change the law .s rescind a memo talk about how that manifests itself. >> correct. what jeff sessions did is come he basically put out a memo today saying that he is resending what is known as the call memo and another call the ogden memo. what they did is put out exactly what the federal government was going to spend its time focusing on when it comes to the , whichion of marijuana has always been in this era and illegal plant. the idea was that before these theresaid guardrails, were certain things the government just was not going to prosecute and that included the state legal markets. example, one, for say legalize marijuana, the federal government was not going to come in and do anything that would go against that state mandate. anymore, so exist it's now sort of all up in the air. what will the federal government to, what will happen when prosecution could theoretically increase all ov

thanks to jenny kaplan.talk to david wessel, senior fellow, about the economic challenges in the year ahead. vonnie: as a quick reminder, you can catch all of our interviews on the bloomberg. type in the function tv . you can look at charts and functionality. you can even ask us good -- ask us a question. this is bloomberg. ♪ shery: it is 1:00 in washington, 6:00 and london, 2:00 in london. i'm shery ahn. david: i'm david westin. welcome to "bloomberg markets: balance of power." where we focus on the intersection of politics and the economy. shery: here are the top stories. a new year is upon us. happy 2018. new challenges for congress and president donald trump. we walk you through the year ahead. tensions over iran. the trump administration threatens new sanctions on the country as nationwide protest cause political turmoil we dig into what is being called the most regulatory shifts in history. ♪ shery: new year, same fiscal things in past -- in washington. lawmakers will be welcome back with their hea

shery, you were talking about this with jenny kaplan.hese are the canadian listed pot stocks and how they have done over the past two weeks leading up to this launch. david: thanks a much, julie. up next, lack of u.s. leadership could be to blame for geopolitical tensions. markets ares looking beyond the chaos. more from today's exclusive conversation and eurasian groups headquarters. this is bloomberg. ♪ ♪ ♪ david: mrs. "bloomberg markets: balance of power." -- this is "bloomberg markets: balance of power." shery: never bloomberg first word news. we turn to mark crumpton. the: the airspace over mar-a-lago estate was violated on new year's eve while the president was at the residence. two f-16 fighter jets were patrolling the area when the intercepted the private plane and escorted into an airport. the pilot told officials he was unaware of the flight restrictions. the united nations security council gets its new members today. coast,ial guinea, ivory the netherlands, peru, and poland were installed on the 15 member council. the u.s., ch

joining me now to discuss is jenny kaplan. this is a pretty complicated deal. structure and what we will see it in terms of the combined entities and will be controlling it. >> it is, located. pepper entity keurig-dr be largely controlled by the keurig shareholders. are owned by a private company in europe. they will own 30% of the new company. 13% of the company. another company is already a shareholder in keurig and they will hold 13%, as well. it is a, located structure is shaking of the way big beverage will play out. scarlet: what will it do the private company that it did not do as a publicly-traded company? >> it will still be publicly traded just a new entity. the big point is they are combining the strengths of the two entities separately to try to make them better as one. drpepper has its beverages, pepper and snapple and the other names we see in stores all over the united states. they have that access to smaller stores, gas stations, your neighborhood store you go to on the corner. whereas keurig has much more access -- they have gone further in e-c

kaplan, our bloomberg colleague. tell us about how big of a deal this is. already one politician from colorado has denounced jeff sessions for this change. jennydeal. that isa small industry growing at a rapid rate. it was $6 billion last year. it isn't projected to hit -- it is projected to hit $50 billion area. it can cause people who aren't in the industry to say, i am not sure i want to take on this risk. the idea. general isrney reinforcing this idea. federal policy may have been lax on this, but they are not planning on keeping that way. shery: could we be seeing more marijuana prosecution? abigail: -- senior justice department officials were not really give much of an answer to that question. they reiterated that this is going to be the opportunity to see attorney general's themselves, to decide whether or not they want to prosecute and bring more cases. like is evidence in states california and colorado, the attorney general's there have already said they would defend the industry. david: who is driving for this change in policy? in places like colorado or california, this is very popular. nationwide, the popular acceptance of marijuan