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☆ Inside the investing strategy of Hunterbrook Capital, the news-driven hedge fund. Can it succeed in a ruthless industry?
▼ + stars: | 2024-04-29 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +6 min

Small team, limited scopeThe hedge fund makes trades based solely on news from Hunterbrook Media, its media sister company, sometimes getting advanced copies of the articles and placing trades before publication. AdvertisementThe hedge fund, however, has just one sole full-time employee. Before a story is published on Hunterbrook Media, the firm's general counsel reviews it to make sure there's not any insider information — such as leaked earning figures — in it. AdvertisementIf the general counsel and the executives green light the story to be shared, then it goes to the hedge fund — in other words, Dunlevie and Horwitz — prepublication. Opportunities few and far between so farInvestigations from Hunterbrook Media so far have less than a 50% hit rate on turning into trades for the hedge fund.

Persons: —, Nate Anderson's Hindenburg, Carl Icahn's, Nathaniel Horwitz, Matt Murray, Paul Steiger, Bethany McLean, That's, Courtney Dunlevie, Horwitz, Sam Koppelman, Brian Koppelman, Dunlevie, Horwitz — prepublication, isn't, It's Horwitz, Matt, Pulitzer, Tony Horwitz, Geraldine Brooks, Cash, Hunterbrook, Marc Lasry, David Fialkow, Matt Cherwin, we're, " Horwitz Organizations: Service, Business, Hunterbrook, Hunterbrook Media, Wall Street, Barclays, Commonstock, Phoenix Suns, Avenue Capital, Catalyst, JPMorgan Locations: Italian, Korean, Brazil

☆ Tesla stock set to surge 10% on Elon Musk's China full self-driving 'home run'
▼ + stars: | 2024-04-29 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Tesla's stock price jumped 10% in Monday's premarket as traders reacted to Elon Musk's China trip. Musk seems to have won key support for rolling out Tesla's autonomous driving technology in China. The Wall Street Journal reported that China's government had signaled to Musk that it would support Tesla's full self-driving rollout. Signs of slowing demand in China have dragged on Tesla's stock price in recent months, although shares rallied last week after Musk's company said it planned to launch cheaper models in 2025. "Musk winning FSD approval in the key China market is a watershed moment for the Tesla story in our view," Ives said in a note seen by BI.

Persons: Wedbush's Dan Ives, —, Tesla, Elon Musk, Premier Li Qiang, Dan Ives, Ives Organizations: Service, Tesla, Baidu, Bloomberg, Premier, Street Journal, BI Locations: Monday's premarket, Elon Musk's China, China, Beijing

☆ Shari Redstone is playing M&A war games with removal of Paramount CEO Bob Bakish
▼ + stars: | 2024-04-29 | by ( Alex Sherman | ) www.cnbc.com time to read: +5 min

The decision to remove Bakish as CEO comes as Paramount Global closes in on a merger agreement with Skydance Media. A number of large common shareholders, including Gamco Investors, Ariel Investments, Matrix and Aspen Sky Trust have publicly criticized the deal, arguing it destroys value for common shareholders. Paramount Global shares jumped about 5% in premarket trading Monday. Typically, Paramount Global shareholders, such as Gabelli, would compare an offer to the standalone company's prospects — hence his comments about not seeing a sale at all. But by removing Bakish, Redstone and the Paramount Global board are now throwing the status quo into chaos.

Persons: Bob Bakish, CNBC's David Faber, Shari Redstone, David A, Skydance, Mario Gabelli, That's, —, Bakish Organizations: Paramount, CNBC, Paramount Global, Skydance Media, Gamco Investors, Ariel Investments, Aspen Sky Trust, National Amusements, Allen & Company Sun Valley, Grogan, Amusements, New York Post, Bloomberg, Street Journal, Skydance, Apollo Global, Sony, New York Times, Apollo, Foreign Investment, U.S, Communications, Charter Locations: Sun Valley , Idaho, U.S, United States

☆ Bill Gates Is Still Pulling Strings at Microsoft, Overseeing AI Ideas
▼ + stars: | 2024-04-29 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +13 min

In fact, Business Insider has learned, Gates has been quietly orchestrating much of Microsoft's AI revolution from behind the scenes. The company, Nadella promised, would "continue to benefit from Bill's ongoing technical passion and advice to drive our products and services forward." According to two executives, Gates' memo treated as gospel, sparking Microsoft's push to take the lead in the AI arms race. Now, it seemed, OpenAI might offer Microsoft a way to help forge the AI future that Gates had long envisioned. According to two executives, Gates' words were treated as gospel, helping spark Microsoft's push to take the lead in the AI arms race.

Persons: Bill Gates, Satya Nadella, Gates, Siri, They're, Clippy, Copilot, That's, Sam Altman, — Gates, Satya, Nadella, Steve Ballmer, Peter Thiel bashed, Bill, Melinda, Jeffrey Epstein, Nadella's, Rather, OpenAI, Kevin Scott, Scott, Altman, you'll, OpenAI's, Bing —, Bing, Steve, Sam, Kayla Wood, Frank Shaw, Shaw, —, Charles Lamanna, Jaime Teevan, Jeff Teper, Charlie Bell —, He's, Forbes, Mustafa Suleyman, DeepMind, Bill G, Suleyman, aren't, hadn't, there's, Ashley Stewart Organizations: Microsoft, Agents, Business, Google, Wired, Street Journal, Rover, Steve Jobs, OpenAI, Amazon Web Services Locations: Tay, Gates, Clippy, Washington, Redmond , Washington, Seattle

☆ Election 2024 Biden jokes, Trump still leads and updates from the Sunday shows.
▼ + stars: | 2024-04-28 | by ( Maggie Astor | ) www.nytimes.com time to read: +9 min

Che told me to say that, and I’m just realizing I was set up.” “Shame, shame, shame on you.” “Shame on you!” “Shame, shame, shame, shame.”President Biden didn’t waste time. “The 2024 election’s in full swing and yes, age is an issue,” Mr. Biden said in a roughly 10-minute speech. He ended it by noting that his grandfather, who recently died, had voted for Mr. Biden in the last election. J.B. Pritzker of Illinois held court with guests as Biden campaign officials talked about recent polls showing Mr. Biden cutting into Mr. Trump’s lead. “My vice president actually endorses me,” Mr. Biden said, referring to former Vice President Mike Pence’s decision not to endorse Mr. Trump.

Persons: Biden, Donald J, —, Donald, Joe, Michael Che, Che, I’m, ”, ” Mr, “, ” “ Donald, Mr, Stormy Daniels, Trump, ‘, ’, Washington Hilton, Hazami Barmada, Evan ”, Evan Gershkovich, “ We’re, Paul Whelan, we’re, Evan, Austin Tice, Deborah, Tice, Haiyun Jiang, The New York Times Kelly O’Donnell, Gershkovich, Ms, O’Donnell, Colin Jost, Advance —, Jost, Jost didn’t, mignon, Lester Holt, Jeffrey D, Al Sharpton, John Fetterman, Scarlett Johansson, Jon Hamm, Sean Penn, Chuck Schumer, J.B . Pritzker, Trump’s, Robert E, Lee, Mike Pence’s Organizations: White, ’ Association, Israel, Union, ’, Washington Hilton, New York Times, The New York Times, Washington, Wall Street, ., Home, U.S, Journalists, Austin, Wall Street Journal, Credit, NBC News, Staten, Advance, Mr, Black, White House, Hollywood, Democratic, Illinois, Biden, “ Locations: Gaza, New York, York, Russia, Moscow, The U.S, Syria, Pennsylvania, Gettysburg

☆ 3 things Costco shoppers should know before buying gold bars
▼ + stars: | 2024-04-28 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Costco sells an estimated $200 million worth of gold and silver bars per month. Gold expert Taylor Huff says with the popularity, some buyers might not know what to expect. Huff recommended three things Costco shoppers should keep in mind when buying gold. Each new batch of gold bars sells out "within a few hours" of being released for a small mark-up over its spot price. This story is available exclusively to Business Insider subscribers.

Persons: Taylor Huff, Huff, — Organizations: Costco, Service, Street Journal, Business

☆ Biden swipes at Trump at White House correspondents' dinner
▼ + stars: | 2024-04-28 | by ( Megan Lebowitz | ) www.cnbc.com time to read: +4 min

US President Joe Biden speaks during the White House Correspondents' Association (WHCA) dinner in Washington, DC, US on Saturday, April 27, 2024. The president said later that age was the only thing he and Trump had in common, adding, "My vice president actually endorses me," a reference to former Vice President Mike Pence's refusal to say he'll back his former running mate in 2024. President Joe Biden on Saturday used his White House correspondents' dinner speech to swipe at former President Donald Trump , taking shots at the presumptive GOP nominee while highlighting the stakes of the election. US President Joe Biden speaks during the White House Correspondents' Association (WHCA) dinner at the Washington Hilton, in Washington, DC, on April 27, 2024. NBC News Senior White House Correspondent Kelly O'Donnell is serving as the White House Correspondents Association's 2023-24 president and presided over the dinner.

Persons: Joe Biden, Biden, Trump, Mike Pence's, Donald Trump, Evan Gershkovich, Vladimir Putin, Gershkovich, Austin Tice, Paul Whelan, Gershkovich's, Steve Kornacki, We're, Scarlett Johansson, Jost, Rachel Brosnahan, Antony Blinken, Chuck Schumer, Sen, John Fetterman, Jill Biden, Kamala Harris, Doug Emhoff, Kelly O'Donnell, Association's, Colin Jost Organizations: White, Correspondents ' Association, Washington Hilton, Street, U.S, NBC News, Biden, Penn, NBC, Air Force Locations: Washington , DC, Washington ,, Russia, United States, Israel, Gaza

☆ Eat, sleep, live luxury: LVMH is building whole cityscapes centered on their designer stores
▼ + stars: | 2024-04-28 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +5 min

Luxury powerhouse LVMH is investing billions in real estate, The Wall Street Journal reported. Michael Burke, head of LVMH Fashion Group, told the Journal, "We're creating a city." According to the Journal, the company spent $2.1 billion last year acquiring properties in Paris ahead of the Olympic games. Related storiesThe luxury brand is among several spending billions on luxury stores and experiences. Chanel and LVMH are also interested in purchasing properties on New York's Fifth Avenue and the Champs-Élysées in Paris, the Journal reported.

Persons: —, Louis Vuitton Moët Hennessy, Louis Vuitton, Frank Gehry, Michael Burke, we're, Burke, Bernard Arnault, Saint Laurent, Chanel, LVMH, Amar Sitayeb, Saint, Alan DeSousa Organizations: Street Journal, Service, Wall Street Journal, Dior, LVMH, Design, Miami Design District, Gucci, Montenapoleone, The New York Times, Times, Canada, Laurent, Global News, Business Locations: Paris, Pont Neuf, Miami, Montreal, Milan's, New, The, Marais

☆ A longevity researcher is facing backlash for claiming to 'reverse aging.' Scientists say there's no consensus on what it means.
▼ + stars: | 2024-04-28 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

Read previewHarvard researcher Dr. David Sinclair has found himself at the center of controversy within the longevity community. He's also earned his share of critics who say his research isn't always backed up by sufficient evidence. Animal Biosciences reissued a press release walking back the "reverse aging" claim. But scientists in the field say the issue is even more fundamental: There's no way to reverse aging, much less measure it. That means debates about the semantics of aging will only become more relevant to our daily lives.

Persons: —, David Sinclair, Sinclair, He's, Dr, Nir Barzilai, Matt Kaeberlein —, Matt Kaeberlein, Barzilai, it's, it'll, Andrea Maier, Jeff Bezos, Peter Thiel Organizations: Service, Business, Street Journal, Animal Biosciences, Newsweek, The Academy for Health, Academy for Health, Academy, National Institute, Aging, MIT Technology, National University of Singapore, Longevity

☆ At least 123 Chinese automakers are facing off against Tesla for EV dominance
▼ + stars: | 2024-04-28 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +3 min

About 123 car companies sold electric vehicles, an auto consultant told WSJ. AdvertisementCompetition in the electric vehicle sector is only getting stiffer for Tesla in China, but what does that space exactly look like? AdvertisementAs Business Insider's Linette Lopez noted in February, automakers received a huge lift from Beijing as it doled out government subsidies to any car company that would contribute to the country's pivot to electric vehicles. AdvertisementStill, Tesla remains one of the country's top EV sellers, and only a few brands compete with the US-based automaker. The competition, however, comes amid a slowdown in EV sales that's being felt in the US and China.

Persons: —, Stephen Dyer, Insider's Linette Lopez, Lopez, Tesla, Dyer, BI's George Glover, BYD Organizations: EV, Service, Tesla, Wall Street, Kiel Institute, The Locations: China, Beijing, Germany, —

CNN —A Russian court has placed Forbes journalist Sergey Mingazov under house arrest after he was detained for allegedly spreading fake news about the Russian armed forces, the Russian state news agency RIA Novosti has reported. Forbes Russia says its journalist will be under house arrest for at least two months as he awaits trial after being detained on Friday. Bubon said that Mingazov is accused of spreading “knowingly false information” about the Russian armed forces “under the guise” of reliable reporting. Internet ban imposedBubon told Forbes Russia that Mingazov’s house arrest was enforced as a “preventative measure.” In Russia, preventative measures take place pre-trial and include being remanded in custody, released on bail, or placed under house arrest. “It contained, under the guise of being reliable, deliberately false information about… the Armed Forces of the Russian Federation,” it continued.

Persons: Sergey Mingazov, Forbes, “ Forbes, Mingazov, ”, Mingazov’s, Konstantin Bubon, Bubon, “, general’s, Alsu Kurmasheva, Evan Gershkovich, Alexander Nevzorov, Dmitry Gordon, Marina Ovsyannikova Organizations: CNN, Novosti, Forbes Russia, Russian Armed Forces, Mingazov’s, Kremlin, Khabarovsk territory’s, Armed Forces, Russian Federation, Radio Free, Radio Liberty, Wall Street Locations: Russian, Bucha, Ukraine, ”, Kyiv, Ukrainian, Russia, Khabarovsk, Radio Free Europe

☆ I'm Gen Z and spent 7 hours a week on TikTok. I deleted the app and now have more time to do actually fun things.
▼ + stars: | 2024-04-27 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +6 min

I created my TikTok account at the pandemic's start while stuck at home with nothing to do. This story is available exclusively to Business Insider subscribers. What was true for me, at least, was that TikTok took hours away from my day. A better work-life balanceOther Gen Z TikTok addicts who spoke to the Journal shared similar concerns. TikTok did not respond to a request for comment from Business Insider.

Persons: —, TikTok, it's, It's, Alistair Barr, there's, Zuckerberg, Z, Keilah Bruce, Gautam Mengi, Will, I've Organizations: Service, Business, Street Journal, Elon, Twitter, Wall Street

☆ Alexey Navalny's death wasn't directly ordered by Putin, WSJ reports
▼ + stars: | 2024-04-27 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +2 min

Putin critic Alexey Navalny's death may not have been planned to happen when it did, WSJ reported. The Journal reported that this opinion is shared by several US intelligence agencies. AdvertisementAlexey Navalny's February death in a remote Arctic prison camp likely wasn't directly ordered by Vladimir Putin, despite Navalny's outspoken criticism of the Russian president, The Wall Street Journal reported Friday. Despite the suspicious circumstances of the opposition leader's death, the outlet reported Putin may not have intended Navalny to be killed when he was. None of the intelligence agencies cited by the Journal or the Pentagon have responded to requests for comment from Business Insider.

Persons: Alexey Navalny's, Navalny's, —, Vladimir Putin, Putin, — wasn't, Putin wasn't, Leonid Volkov, Navalny Organizations: Kremlin, Service, Street, CIA, National Intelligence, State, Journal, Pentagon, Business Locations: Russian, Poland

☆ The US economy may end up caught in a dreaded period of stagflation. 2 experts outline the scenario, and how to keep your money safe
▼ + stars: | 2024-04-27 | by ( Filip De Mott | ) www.businessinsider.com time to read: +5 min

This would force interest rates to stay higher for longer, putting pressure on US businesses and consumers. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA pair of economic reports has brought back a word no central banker ever wants to hear: stagflation. The difficult scenario occurs when inflation rises and growth stalls, a dangerous combination just experienced by the US economy.

Persons: stagflation, —, Thursday's, LPL, Jeffrey Roach, Mike Reynolds, Reynolds, Jamie Dimon, Roach, shouldn't Organizations: Service, Federal, yesterday's, Fed, Wall Street, Bank of America

☆ Putin likely did not directly order Navalny’s killing, U.S. intelligence agencies conclude
▼ + stars: | 2024-04-27 | by ( ) www.cnbc.com time to read: +2 min

Floral tributes, portraits of late Russian opposition leader Alexei Navalny and messages are seen left outside the former Russian Embassy in Tbilisi on March 1, 2024. U.S. intelligence agencies have concluded that Russian President Vladimir Putin probably didn't directly order the killing of Alexei Navalny at a remote penal colony in February, according to three sources familiar with the matter. As Russia's most high-profile and popular dissident, Navalny's death dealt a severe blow to the country's opposition movement, which has been brutally suppressed by the Kremlin. Before Navalny's death, there had been tentative discussions about a possible prisoner exchange with Russia involving Navalny and Americans detained in Russia, NBC News previously reported. Navalny's allies allege that Putin had the dissident killed to thwart the proposed prisoner swap that would have freed him.

Persons: Alexei Navalny, Vladimir Putin, Putin, Navalny, Joe Biden, Sergei Skripal, Navalny's Organizations: Russian Embassy, Kremlin, Washington, Russia's Federal, Service, CIA, National Intelligence, NBC Locations: Tbilisi, Russia's, Russia, Russian, United Kingdom, Western

☆ Sundar Pichai, James Gorman, and Sheryl Sandberg have all worked for McKinsey. Here's why the consultancy is a CEO factory.
▼ + stars: | 2024-04-27 | by ( George Glover | ) www.businessinsider.com time to read: +1 min

Many Fortune 500 CEOs have previously worked at McKinsey. The firm has become known as a CEO factory, but has sparked controversy in the past, too. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . This story is available exclusively to Business Insider subscribers.

Persons: Sundar Pichai, Sheryl Sandberg, —, it's Organizations: McKinsey, Service, Street, Department of Justice, Enron, Business Locations: Saudi

☆ 2 experts outline a looming scenario where the US economy ends up caught in a dreaded period of stagflation
▼ + stars: | 2024-04-27 | by ( Filip De Mott | ) www.businessinsider.com time to read: +5 min

☆ Kraft Heinz's CEO has a clean-eating lifestyle at odds with all that processed food — but he insists it shares his health mission
▼ + stars: | 2024-04-27 | by ( Cameron Manley | ) www.businessinsider.com time to read: +3 min

Kraft Heinz CEO Carlos Abrams-Rivera's healthy lifestyle seems at odds with his company's processed products. Food giant Kraft Heinz is aiming to offer customers healthier products and improve the nutritional value of some of its staple items, such as ketchup, he said. Research has linked the consumption of ultra-processed foods to increased risk of health issues, the BMJ medical journal has said. AdvertisementAbrams Rivera told The Journal that the processing of many of Kraft Heinz's products was necessary to supply a growing population, however. Nevertheless, the CEO said he remained committed to cutting sodium and sugar from Kraft Heinz's products, per The Journal.

Persons: Kraft Heinz, Carlos Abrams, Abrams, Rivera, —, Rachel Rothman, Abrams Rivera Organizations: Research, Service, Kraft, Wall Street, Centers for Disease Control Locations: San Diego

☆ Putin is using 'nuclear blackmail' — and Russia defeating Ukraine could spark global chaos and economic disaster, Jamie Dimon warns
▼ + stars: | 2024-04-27 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Russia defeating Ukraine could spark chaos and slam the global economy, Jamie Dimon said. The JPMorgan CEO said a Putin victory could fuel a nuclear arms race and trigger more battles. AdvertisementA Russian victory in Ukraine could throw the world into disarray, transform the global economy, and trigger nuclear proliferation and further conflicts, Jamie Dimon warned. Dimon emphasized that Russia has invaded a free, democratic nation and threatened nuclear war to deter resistance. Advertisement"The geopolitical situation is probably the most complicated and dangerous since World War II," he told the Economic Club of New York this week, adding that the world order is being "challenged."

Persons: Jamie Dimon, Putin, Dimon, —, We've Organizations: JPMorgan, Service, Wall, Russia, Economic, of New Locations: Russia, Ukraine, China, Europe, of New York

Paramount is preparing to announce the departure of its chief executive, Bob Bakish, as soon as next week, according to three people with knowledge of the matter, a sudden development that would come even as company is exploring a merger. Ms. Redstone grew frustrated with what she saw as his inability to get important deals across the finish line, including a sale of the Showtime and BET cable channels, the people said. The company is in talks to merge with Skydance, a media company controlled by the tech scion and Hollywood producer David Ellison. It is also negotiating a lucrative deal to keep channels like Nickelodeon and MTV on the Charter cable system. The Wall Street Journal earlier reported that Paramount’s board was considering replacing Mr. Bakish.

Persons: Bob Bakish, Bakish’s, Shari Redstone, David Ellison, Bakish Organizations: Paramount, Showtime, BET, Nickelodeon, MTV, Street

An effort to give Trump more say on ratesThis week, investors had planned to examine the latest inflation data, due out at 8:30 a.m. Eastern on Friday, for clues about when the Fed would start cutting interest rates. The Wall Street Journal reports that allies of Donald Trump are devising ways of watering down the central bank’s independence if he is re-elected president. But it also raises questions about whether such a plan is possible — or whether Trump’s Wall Street supporters would back it. Among the most consequential would be asserting that Trump had the authority to oust Jay Powell as Fed chair before Powell’s term is up in 2025. While Trump gave Powell the job in 2017, he has since soured on his pick for raising rates, and has publicly said he wouldn’t give Powell a second term.

Persons: Donald Trump, Trump, Jay Powell, Powell, wouldn’t Organizations: Trump, Street Journal, Wall

☆ Trump advisors are considering plans to dramatically revamp the Fed, WSJ report says
▼ + stars: | 2024-04-26 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

Former US President Donald Trump speaks to members of the media at Manhattan criminal court in New York, US, on Thursday, April 25, 2024. The plans, which the Journal report described as highly secretive, are part of a 10-page document that suggests Trump — if elected — would be consulted on interest rate decisions. Along with those proposals, the draft contends that Trump could remove current Fed Chair Jerome Powell from office and require that Fed policy be aligned with the administration's goals. While in office, Trump harshly criticized Powell and his fellow central bankers as they were raising interest rates and reportedly considered ousting him. Trump campaign officials told the Journal that the draft proposals shouldn't be considered "official."

Persons: Donald Trump, Donald Trump's, Trump, Jerome Powell, Powell Organizations: Federal, Wall, Treasury Department Locations: Manhattan, New York

☆ Trump allies are drawing up plans to make the Fed less independent, report says
▼ + stars: | 2024-04-26 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +1 min

Allies of former president Trump are drafting plans to chip away at the independence of the Fed, The Wall Street Journal reported. Trump has not publicly acknowledged the plan, but sources said it has his blessing. The plan also suggests Trump could fire Jerome Powell before his term ends in 2026. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy .

Persons: Trump, Jerome Powell, —, Donald Trump's Organizations: Fed, Street Journal, Service, Republican, Federal Reserve, Street, Business

☆ Trump's team wants to restructure the Fed and let him have a say on interest rate decisions: WSJ
▼ + stars: | 2024-04-26 | by ( Ayelet Sheffey | Madison Hall | ) www.businessinsider.com time to read: +5 min

Some members of Trump's team want to restructure the Federal Reserve, the WSJ reported. That could include allowing the president to have a direct say on interest rate decisions. Trump has previously been critical of Powell's handling of interest rates during the pandemic. To help the Fed achieve its 2% inflation target, the Federal Open Market Committee has hiked interest rates 11 consecutive times since March 2022. Advertisement"I think he's going to do something to probably help the Democrats, I think, if he lowers interest rates," Trump said, adding that "it looks to me like he's trying to lower interest rates for the sake of maybe getting people elected."

Persons: Jerome Powell, —, Donald Trump, Trump, President Trump, Susie Wiles, Chris LaCivita, Powell, Ron DeSantis, Nikki Haley, Vivek Ramaswamy, Joe Biden, Robert F, Kennedy Jr, Biden Organizations: Federal Reserve, Service, Street, Trump, Management, Federal, Fed, Fox News, Republican, Florida Gov, South Carolina Gov, Biden, GOP Locations: New York

☆ WSJ's Nick Timiraos on Trump allies' efforts to erode the Fed's independence
▼ + stars: | 2024-04-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWSJ's Nick Timiraos on Trump allies' efforts to erode the Fed's independenceNick Timiraos, The Wall Street Journal chief economics correspondent, joins 'Squawk Box' to discuss reports of Trump allies drafting plans to erode the Fed's independence if the former president wins the 2024 election, how plausible the scenario would be, and more.

Persons: Nick Timiraos Organizations: Trump, Street Journal

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