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Why the Fed is stressed about presidential elections
  + stars: | 2024-07-10 | by ( Nicole Goodkind | ) edition.cnn.com   time to read: +9 min
New York CNN —Federal Reserve Chair Jerome Powell sent investors mixed messages on Tuesday during his semiannual testimony to Congress. Powell is stressed about the election: Powell was asked by multiple senators about White House politics, which he dodged. While the Fed head noted that policy decisions are data dependent, “elevated inflation is not the only risk we face,” he said. The September Fed meeting will be “live”: Powell noted multiple times that every Fed policy decision is made “live” using the latest available economic data – in other words, decisions aren’t made in advance. About 75% of investors think the Fed will cut rates, and about 25% think they’ll remain the same.
Persons: Jerome Powell, Powell, , Donald Trump, reappoint Powell, , Joseph Brusuelas, Trump, Gregory Daco, Chris Larkin, Morgan Stanley, Larkin, don’t, aren’t, David Rubenstein, he’ll, Airbnb, Isabelle Chapman, Majlie, Puy Kamp, Audrey Ash, Chris Isidore . Organizations: CNN Business, Bell, New York CNN — Federal, White, , Reserve, RSM, Federal Reserve, US Consumer, Treasury, Fed, Economics, Washington DC, Jackson, CNN, Boeing, Alaska Airlines Locations: New York, Powell, Washington, Alaska
CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Dow up, Nvidia sinksThe Dow Jones Industrial Average rose 260 points as investors rotated out of technology and into banking and energy stocks, such as Goldman Sachs and Chevron. He expressed concerns about potential criticism from former President Donald Trump if rate cuts occur before the election. "I suspect the market is probably more right than wrong when it says the rate cuts are likely to come after the election," he said. James Butterfill, head of research at CoinShares, attributes the sell-off to concerns over the number of rate cuts.
Persons: Dow, Goldman Sachs, David Rubenstein, Rubenstein, CNBC's Andrew Ross Sorkin, Donald Trump, Bitcoin, James Butterfill, Shein Organizations: CNBC, Nvidia, Dow Jones, Chevron, Nasdaq, Treasury, The Carlyle, Federal Reserve, Novo Nordisk Locations: Israel, Lebanon, Novo, North Carolina, Danish, London, U.S, Beijing, Singapore, China
Don't expect rate cuts from the Federal Reserve before the November election, according to David Rubenstein. "Generally the Fed wants to stay out of politics," the co-founder and co-chairman of The Carlyle Group told CNBC's Andrew Ross Sorkin on " Squawk Box " Monday. "I've always said that I think the Fed is not likely to cut rates before the election because it would just cause too much political turmoil." Rubenstein noted that the Fed likely recognizes it would be "heavily criticized" by former President Donald Trump if it starts cutting ahead of the election. "I suspect the market is probably more right than wrong when it says the rate cuts are likely to come after the election," he said.
Persons: David Rubenstein, CNBC's Andrew Ross Sorkin, I've, Rubenstein, Donald Trump, He's Organizations: Federal Reserve, The Carlyle Group, Traders, The Kennedy Center, Democrat
Carlyle Group’s David Rubenstein: I'd give this economy a B+
  + stars: | 2024-06-24 | 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 EmailCarlyle Group’s David Rubenstein: I'd give this economy a B+David Rubenstein, The Carlyle Group co-founder and co-chairman, joins 'Squawk Box' to discuss the state of the 2024 race, the Fed's inflation fight, state of the economy, MLB team ownership, and more.
Persons: Carlyle Group’s David Rubenstein, I'd, David Rubenstein Organizations: The Carlyle Group, MLB
Hedge fund executive and billionaire Bill Ackman has signaled to associates that he is likely to support Donald Trump for president over Joe Biden, according to a source familiar with the matter. Ackman previously financed Robert F. Kennedy Jr.'s campaign for president and Republican Nikki Haley's failed bid for the White House. If Ackman endorses Trump, he will join a growing crowd of Wall Street executives backing Trump over Biden. Blackstone CEO Steve Schwarzman recently said in a statement that he would support Trump. When asked at the time whether he would vote for Trump over Biden, Ackman said, "I'll make that decision when I have the choice."
Persons: Bill Ackman, David Rubenstein, Donald Trump, Joe Biden, Robert F, Kennedy Jr, Nikki Haley's, Ackman, Trump, Blackstone, Steve Schwarzman, Biden, Dean Phillips, Phillips Organizations: Pershing, Capital Management, White, Forbes, Financial Times, Wall Street, Biden, Trump, Republican, CNBC, Democratic, Commission Locations: New York
Carlyle also sees an opportunity to take advantage of sports' greater openness to institutional capital as teams get more expensive. Advertisement"Post-COVID, no content is more important than sports content," Fund said. Successfully running a team isn't as easy as investing in oneCarlyle sees openings for outside investors in teams as their valuations soar. "As teams become more expensive, you're running out of people to buy controlling stakes in teams," Fund said. Key to the Reign deal, for example, was having the Sounders, with its deep market knowledge, as a day-to-day operator.
Persons: , Carlyle, Ben Fund, Alex Popov, cochair David Rubenstein, We've, We're Organizations: Service, National, Soccer, Seattle, FC, Seattle Sounders, Business, Fund, Baltimore Orioles, NFL, Sounders
Whispering in the ears of the billionaires and celebrities doing the buying, however, are investment bankers. Like other sports bankers BI interviewed for our list of top sports bankers, he exemplified a good-humored, approachable attitude, including joking about his many sports allegiances. Related stories"Earlier in my career, I made the mistake of telling Bob Kraft that I was a New York Jets fan," Carey told BI recently. They're obsessive Jets fans, and they're just fans because I'm a Jets fan," Neville told BI. So that's why we'll be Jets fans forever."
Persons: it's, Goldman Sachs, Greg Carey, everyone's, Carey, Colin Neville's, he's, David Beckham, Steve Ballmer, Joe Tsai, Ballmer, Tsai, Neville, Andrew Kline, Kline, Bob Kraft, I'm, Robert Tilliss, There's, Abramovich, Vladimir Putin, Todd Boehly, Joe Lenehan, Michael Arougheti, David Rubenstein's, doesn't, there's Organizations: NBA, JPMorgan, Business, The, PJT Partners, Chelsea FC, Baltimore Orioles, Sports, Goldman, Endeavor, WWE, Microsoft, Beckham's, Los Angeles Clippers, Brooklyn Nets, Barclays Center, St, Louis Rams, Los Angeles Rams, Golden State Warriors, Miami Heat, Harvard, US Rugby National, Cal, New York Jets, BI, Patriots, Giants, Rays, Chelsea, Circle, Atlanta Hawks NBA, New York Mets, NFL, soccer's Premier League, Russian, Chelsea football, LA Dodgers, Yankees, Manchester United Games, Jets, we'll Locations: European, Los Angeles, Berkeley, Barcelona, Ukraine, New York
Analyst Barton Crockett hiked his price target on Atlanta Braves Holdings by more than 10% to $53 per share, saying in a note to clients Tuesday that the team could soon become a buyout target. "We assume that the Braves are likely to be taken private by a billionaire once properly tax-seasoned. Shares of Atlanta Braves Holdings closed at $38.79 per share on Monday, more than 36% below the Rosenblatt price target. BATRK YTD mountain The tracking stock for the Atlanta Braves has struggled in 2024. Atlanta Braves Holdings includes not only the baseball franchise but also some real estate development around the team's baseball stadium in suburban Atlanta.
Persons: Barton Crockett, John Malone, Crockett, Rosenblatt, Carlyle, David Rubenstein, Matt Ishbia Organizations: Rosenblatt Securities, Atlanta Braves Holdings, Liberty Media, Sirius XM, Braves, Sports, National League East, Baseball, Atlanta Braves, Carlyle Group, Baltimore Orioles, Phoenix Suns Locations: U.S, Atlanta
Peter G. Angelos, the longtime owner of the Baltimore Orioles who built a fortune as a class-action lawyer, died on Saturday. His death was confirmed in a statement from his family that was posted on the team’s social media account, which said that Mr. Angelos had “passed away quietly.” No cause was given, though the statement acknowledged that he had been ill for several years. Mr. Angelos’s death came as his family awaited approval by Major League Baseball owners to sell the team — valued, along with its assets, at $1.725 billion, according to The Baltimore Sun — to David Rubenstein, the president of Inner Harbor Sports. The sale was approved on March 20 by the Maryland Stadium Authority board, which was required under the terms of the team’s lease for ownership to be transferred.
Persons: Peter G, Angelos, Mr, , Angelos’s, Baltimore Sun —, David Rubenstein Organizations: Baltimore Orioles, Major League Baseball, Baltimore Sun, Inner Harbor Sports, Maryland Stadium Authority
Carlyle Group cofounder David Rubenstein is fronting a group buying the Baltimore Orioles, reports say. Fellow private equity billionaire Michael Arougheti is also expected to be involved in the deal. AdvertisementFamed private equity investor David Rubenstein is reportedly planning to buy the Baltimore Orioles. Puck broke the news Tuesday that the Carlyle Group cofounder and Baltimore native is fronting a group expected to take a 40% stake in the Major League Baseball franchise. AdvertisementThe Orioles are owned by the Angelos family, who bought the MLB franchise in 1993.
Persons: David Rubenstein, Angelos, Puck, Michael Arougheti, , Cal Ripken, Jr, Rubenstein, he'll, Peter Angelos, John, Carlyle, Josh Harris Organizations: Carlyle, Baltimore Orioles, Major League Baseball, Service, Carlyle Group, Baltimore, Ares Management, Orioles, MLB, Financial, National Basketball Association, Apollo Global, National Football League's
Carlyle Group Inc. co-founder David Rubenstein has reached an agreement to buy the Baltimore Orioles for $1.725 billion, according to a person with knowledge of the deal. The person spoke to The Associated Press on condition of anonymity Tuesday night because the agreement had not been announced. Rubenstein, a Baltimore native, will take over as the team's controlling owner, and he's assembled an investment team that includes Ares co-founder Michael Arougheti. The Angelos family has been in control of the Orioles since 1993, when Peter Angelos purchased the team for $173 million. The team recently reached a deal on a new lease extension at Camden Yards.
Persons: David Rubenstein, Rubenstein, he's, Michael Arougheti, Angelos, Peter Angelos, John, Carlyle, Jimmy Carter Organizations: Group Inc, Baltimore Orioles, Associated Press, Orioles, Camden, Duke, University of Chicago Law School Locations: Baltimore, Camden Yards . Maryland, Washington
The Orioles have been mediocre — or straight-up awful — throughout most of Angelos’ ownership. The new owner, Rubenstein, is a Baltimore native and co-founder of The Carlyle Group, a Washington, DC-based private equity giant. If the sale is approved, Rubenstein will become the controlling partner in the ownership group, the key decision-maker. After the 94-year-old Angelos dies, the Rubenstein group will own all 100% of the club. The Orioles’ $1.7 billion valuation is nearly triple what the team was worth in 2014, according to Forbes.
Persons: Peter Angelos, David Rubenstein, Angelos, Hall, Cal Ripken, Jr, Rubenstein, Angelos ’, Michael Arougheti Organizations: CNN, Baltimore Orioles, Orioles, Major League Baseball, Baltimore, Hall of Famer, American League East, AL, The Carlyle Group, longtime Orioles, Ripken, Ares Management, Forbes, Milwaukee Brewers, Colorado Rockies Locations: Baltimore, Washington, DC
Read previewAfrica's richest person has opened one of the world's largest oil refineries in Nigeria. Aliko Dangote, the billionaire founder and chairman of the multinational conglomerate the Dangote Group, opened the Dangote Petroleum Refinery in a bid to help make Nigeria self-sufficient in fuel. This story is available exclusively to Business Insider subscribers. The $19 billion refinery, in the coastal city of Lekki, near Lagos, has suffered years of delays and setbacks, but it finally began production last week. This is something that the new Dangote refinery aims to change by eventually producing up to 650,000 barrels a day.
Persons: , Aliko Dangote, Pius Utomi Ekpei, David Rubenstein, Dangote, Rafiq Raji, Raji, John Moore, Alhassan, Forbes, Rubenstein, Bill Gates, Gates, Aliko, Melinda Gates Organizations: Service, Dangote, Petroleum Refinery, Business, Dangote Petroleum, Center for Strategic, Studies, Africa, Bloomberg Global Business, West Africa's, Al, Azhar University, Dangote Cement, Bloomberg, Melinda Gates Foundation, English Premier League soccer, Arsenal Locations: Nigeria, Lekki, Lagos, AFP, New York, Nigerian, West, Egypt, Africa
Zelensky and Trump loom over DavosTwo people are having an outsize impact at the World Economic Forum, and one of them isn’t even there. One is Volodymyr Zelensky, Ukraine’s president, who put on a full-court press of business and global leaders at the forum in Davos, Switzerland. Zelensky isn’t the only leader at Davos worried about Trump. The Ukrainian leader has sought to shore up global business support. And the annual wine tasting hosted by Anthony Scaramucci, the financier and former Trump official, well, ran out of wine.
Persons: Volodymyr Zelensky, Donald Trump, Zelensky, Vladimir Putin, Andrew, Trump, Putin, , ” Zelensky, Republican Party ”, DealBook, thumped, JPMorgan Chase, Steve Schwarzman, Blackstone, Ray Dalio, David Rubenstein, Carlyle, Michael Dell, John Kerry, Biden’s, Anthony Scaramucci, Christine Lagarde, Christopher Waller, Nelson Peltz’s, James Gorman, Morgan Stanley, Mary Barra, General Motors —, Bob Iger, Disney’s, Murray Auchincloss, Bernard Looney, Auchincloss, Yi Fuxian Organizations: Trump, Economic, Ukraine, Republican Party, Republican, JPMorgan, Congress Center, Dell, European Central Bank, Fed, Disney, General, BP, University of Wisconsin – Locations: Davos, Switzerland, Europe, Ukraine, American, Iowa, Bridgewater, China, Beijing, Russia, Britain, U.S, Asia, University of Wisconsin – Madison
Glenn Youngkin (L) looks on during the announcement of a new sports arena for the Washington Wizards NBA basketball team and Washington Capitals NHL hockey team, on December 13, 2023 Virginia. Win Mcnamee | Getty Images News | Getty ImagesTed Leonsis, the owner of the NBA's Washington Wizards and the NHL's Washington Capitals, has a grand vision for growing a regional sports empire. Glenn Youngkin announced that the Capitals and Wizards have agreed to move to a new arena in Alexandria, Virginia, as part of a $2 billion entertainment complex in 2028. How will they compete with big market teams? "We could have a billion-and-a-half-dollar revenue run rate and a $10 billion to $15 billion trend of valuation," Leonsis said.
Persons: Ted Leonsis, Glenn Youngkin, Win Mcnamee, Leonsis, we'll, aren't, I'm, it's, It's, David Rubenstein, David Blitzer, Blackstone, James Dolan, Stan Kroenke, Kroenke, I've Organizations: Monumental Sports, Entertainment, Virginia Gov, Washington Wizards NBA, Washington Capitals NHL, Getty, Washington Wizards, NHL's Washington Capitals, CNBC, Summit, Washington , D.C, AOL, Capitals, Wizards, Washington Mystics, Capital, D.C, Sports, Mystics, NHL, Baltimore Orioles, Washington Nationals, MLB, Carlyle Group, Bloomberg, Orioles, Red Sox, Fenway Sports Group, Boston Red Sox, Pittsburgh Penguins, Premier League's Liverpool, Philadelphia 76ers, New, New Jersey Devils, Washington, Cleveland Guardians, MSG, Sphere Entertainment, Madison Square Garden Entertainment, New York Knicks, Rangers, MSG Networks, Atlanta Braves Holdings, Liberty Media, Sports & Entertainment, Nuggets, Avalanche, Los Angeles Rams, Premier League's Arsenal FC, Qatar Investment Authority, MSG Sports, NHL's Rangers, NBA's Knicks, Phoenix Suns, NBA, Ottawa Senators, Braves Locations: Virginia, Alexandria , Virginia, Washington ,, Washington, London, Richmond, Delaware, New Jersey, Real Salt Lake, Denver, MLS's Rapids, Colorado, Monumental
"In a different cycle, when inflation hadn't spiked so much, I think the Fed would have been cutting rates already. "If the real fed funds rate continues to go higher as I expect it will, then you'd want to offset that through rate cuts. And the amount of rate cuts I think they're going to have to do is a relatively large amount." "I think there's a real risk of a hard landing if the Fed doesn't start cutting rates pretty soon," the head of Pershing Square Capital Management added. However, even some of the historically more dovish Fed officials aren't showing their hands on when they think cuts will come.
Persons: Valerie Plesch, Kathy Jones, Charles Schwab, Christopher Waller, Michelle Bowman, Waller, Bowman, Joseph LaVorgna, Donald Trump, Chris Marangi, Bill Ackman, Ackman, David Rubenstein, Raphael Bostic, Thomas Barkin Organizations: Eccles Federal, Bloomberg, Getty, Federal Reserve, Fed, Nikko Securities America, National Economic Council, CME Group, Stocks, Gabelli, Market, Pershing, Capital Management, Atlanta Federal Reserve, Richmond Locations: Washington , DC, Atlanta
Bill Ackman said in a Bloomberg podcast he expects the US Federal Reserve to cut rates soon. He said the US economy risks a sharp downturn if the Fed doesn't cut interest rates soon. AdvertisementBill Ackman expects the US Federal Reserve to cut rates as early as the first quarter of next year. The Fed needs to cut interest rates soon to avoid a sharp downturn in the US economy, the billionaire investor said on Bloomberg's "The David Rubenstein Show: Peer-to-Peer Conversations." The Fed has raised interest rates 11 times since March 2022 in an effort to cool soaring inflation.
Persons: Bill Ackman, , David Rubenstein, That's, Ackman, Rubenstein, There's Organizations: Bloomberg, US Federal Reserve, Service, Carlyle Group, Deutsche Bank, European Central Bank, UBS Locations: Israel, Swiss
(AP) — It wasn’t all work and no play for President Joe Biden on Friday on this picturesque Massachusetts island. Because of the remarks on hostages, the traditional family lunch happened later than usual. Finally, the Bidens ended up at Nantucket’s annual Christmas tree lighting ceremony, clapping as the town crier led the countdown and the tree was illuminated with colored lights. Leaning against metal barricades and waving banners that said “Free Palestine,” the protesters chanted: “Biden, Biden, you can’t hide. A local official urged the protesters to stop, noting that the community event was not a political one.
Persons: Joe Biden, Biden, it’s, Jill Biden, Ashley, Can’t, “ We’ve, Heather Cox Richardson, , crier, “ Biden, , Joe, Jill, Beau, Hunter, they’ve, David Rubenstein Organizations: Biden, Nantucket, of, Nantucket Books, White, Palestine Locations: NANTUCKET, Massachusetts, Gaza, Craftmasters, Nantucket, Palestine
[1/3] U.S. President Joe Biden greets Nantucket Fire Department Chief Cranson alongside First Lady Jill Biden, at the Nantucket Fire Department in Nantucket, Massachusetts, U.S, November 23, 2023. REUTERS/Tom Brenner Acquire Licensing RightsNANTUCKET, Mass., Nov 23 (Reuters) - President Joe Biden delivered pumpkin pies to firefighters on Thursday to celebrate the U.S. Thanksgiving holiday and expressed hope about a pending hostage release in the war between Israel and the Palestinian Islamist group Hamas. Biden, who is vacationing with his family on the Massachusetts island of Nantucket, has spent part of his time here speaking to foreign leaders about the war. Biden has a decades-long family tradition of coming to Nantucket for the Thanksgiving holiday. In earlier remarks on NBC, Biden urged people to focus on solving problems together and stopping rancor in U.S. society.
Persons: Joe Biden, Cranson, Lady Jill Biden, Tom Brenner, Biden, Jill Biden, David Rubenstein, ", Donald Trump, Evan Gershkovich, Paul Whelan, Jeff Mason, Jonathan Oatis Organizations: Nantucket Fire Department, REUTERS, Rights, U.S, Hamas, NBC, Democrat, Republican, Thomson Locations: Nantucket, Nantucket , Massachusetts, U.S, Rights NANTUCKET, Israel, Palestinian, Massachusetts, Qatar, Russia
Mr. Biden and Jill Biden, the first lady, arrived on the exclusive island off the coast of Massachusetts late Tuesday for their traditional Thanksgiving week visit. The home of Mr. Rubenstein, a co-founder of the Carlyle Group, a private equity firm, is on 13 acres of beachfront property with sweeping views of Nantucket Harbor. Many locals also pointed out that Mr. Biden has been coming to the island for some 40 years, and that this is his third visit as president. OK, cool,’” said Suzanne Bennett, who manages Nantucket Bookworks, a local bookshop where Mr. Biden has popped in on previous walks in town. Ms. Bennett said she hadn’t done much of anything to prepare for this year’s likely Biden family visit, and described the morning routine as business as usual.
Persons: Biden, Mr, Jill Biden, David Rubenstein, Rubenstein, They’re, , Suzanne Bennett, Bennett Organizations: Carlyle Group, Secret Service, White House Locations: blustery, Nantucket, Massachusetts, Nantucket Harbor
Jane Fraser, CEO of Citigroup Inc., during an interview for an episode of "The David Rubenstein Show: Peer-to-Peer Conversations" at the Economic Club of Washington in Washington, D.C., March 22, 2023. Citigroup will soon begin layoffs in CEO Jane Fraser's corporate overhaul, CNBC has learned. Those impacted will include chiefs of staff, managing directors and some lower-level employees, said the people. She announced five new divisions whose heads report directly to her, resulting in the departure of a handful of senior executives. Fraser is under pressure to improve Citigroup, which has been mired in a stock slump as headcount and expenses have ballooned in recent years.
Persons: Jane Fraser, David Rubenstein, Jane, Fraser, We've Organizations: Citigroup Inc, Economic, of Washington, Washington , D.C, Citigroup, CNBC, Employees, Workers, CNBC PRO Locations: Washington ,
Felipe Villarroel, portfolio manager at TwentyFour Asset Management, said he recently swapped some 10-year Treasuries for higher yielding 30-year Treasuries. At these levels, yields give “a massive cushion in your total returns" to protect against bond prices falling further, he said. Yields on the benchmark 10-year U.S. Treasury were over 4.95% in Asia trade on Thursday, their highest level in more than 16 years, and 30-year yields breached 5% this month for the first time since 2007. An auction of 30-year U.S. Treasuries showed weak demand last week, sending yields higher. "The tightness that (bond yields) are imposing on the economy and markets is rising ... this caps the extra work the Fed needs to do," said Smith.
Persons: Jerome Powell, David Rubenstein, Amanda Andrade, Rhoades, Felipe Villarroel, Treasuries, Matt Smith, Ruffer, Buyers, Leslie Falconio, Ruffer's Smith, Smith, Davide Barbuscia, Michelle Price, Ira Iosebashvili, Nick Zieminski Organizations: Federal, Economic, of Washington, Washington , D.C, REUTERS, Treasuries, TwentyFour Asset Management, Bank of America Global Research, Treasury, UBS Global Wealth Management, BlackRock Investment Institute, Thomson Locations: Washington ,, Asia
Felipe Villarroel, portfolio manager at TwentyFour Asset Management, said he recently swapped some 10-year Treasuries for higher yielding 30-year Treasuries. At these levels, yields give “a massive cushion in your total returns" to protect against bond prices falling further, he said. Yields on the benchmark 10-year U.S. Treasury were over 4.95% in Asia trade on Thursday, their highest level in more than 16 years, and 30-year yields breached 5% this month for the first time since 2007. An auction of 30-year U.S. Treasuries showed weak demand last week, sending yields higher. "The tightness that (bond yields) are imposing on the economy and markets is rising ... this caps the extra work the Fed needs to do," said Smith.
Persons: Jerome Powell, David Rubenstein, Amanda Andrade, Rhoades, Felipe Villarroel, Treasuries, Matt Smith, Ruffer, Buyers, Leslie Falconio, Ruffer's Smith, Smith, Davide Barbuscia, Michelle Price, Ira Iosebashvili, Nick Zieminski Organizations: Federal, Economic, of Washington, Washington , D.C, REUTERS, Treasuries, TwentyFour Asset Management, Bank of America Global Research, Treasury, UBS Global Wealth Management, BlackRock Investment Institute, Thomson Locations: Washington ,, Asia
New York CNN —Israeli billionaire Idan Ofer and his wife Batia are quitting a Harvard executive board in protest of how university leaders have responded to Hamas’ terror attacks on Israel. Idan Ofer has amassed a fortune valued at nearly $20 billion, according to Bloomberg’s billionaire index, where the Israeli ranks No. Instead, the resignation was driven by how Harvard leaders responded to the attacks on Israel, the source said. Idan Ofer is a son of shipping billionaire Sammy Ofer, who was once Israel’s richest man and died in 2011, according to Forbes. President of Harvard University Claudine Gay Brian Snyder/ReutersHarvard did not comment on the resignation and criticism from the Ofers.
Persons: Idan Ofer, Batia, , Israel, , David Rubenstein, Sammy Ofer, Harvard University Claudine Gay Brian Snyder, Claudine Gay, ” Gay, Gay, Harvard “, Bill Ackman, That’s Organizations: New, New York CNN, Harvard, CNN, Harvard’s Kennedy School of Government, Kennedy, Forbes, Israel Corp, Kenon Holdings, Harvard University, Reuters Harvard, University, Locations: New York, Israel, Harvard’s
The inflation threat isn't over and interest rates won't sink overnight, Bridgewater's co-CIO says. Karen Karniol-Tambour sees little reason for rate cuts with a strong economy and sticky inflation. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Indeed, the Fed may realize that inflation isn't fading, and markets are pricing in rate cuts that it's uncomfortable making, Karniol-Tambour said. Even so, bond investors are pricing in a "pretty good number of rate cuts" starting next year, Karniol-Tambour said.
Persons: Bridgewater's, Karen Karniol, Tambour, David Rubenstein, Jerome Powell, Ray Dalio, Nir Bar Dea, CIOs, Greg Jensen, Bob Prince Organizations: Service, Bridgewater Associates, Bloomberg Locations: Wall, Silicon
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