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Larry Summers was not assuaged by Trump’s tariff pause. The former Treasury secretary under Bill Clinton has a history of making prescient calls on the economy and his views have always carried great weight with policymakers. Over two wide-ranging interviews with Fortune, he spoke candidly about Trump’s recent moves and what he sees happening in … Read more
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Teachers union boss Randi Weingarten says she is concerned that shutting down the Department of Education could be as harmful to students as the school closures were during COVID. On Thursday, President Donald Trump signed an executive order instructing Education Secretary Linda McMahon to begin the process of shuttering the department. The executive order asked McMahon to … Read more
Treasury Secretary Scott Bessent speaking to CNBC on March 13th, 2025. CNBC Treasury Secretary Scott Bessent said Thursday the Trump administration is more focused on the long-term health of the economy and markets and not short-term gyrations. “We’re focused on the real economy. Can we create an environment where there are long term gains in … Read more
L’Oreal could avoid the worst of the tariff war with the U.S., the beauty giant’s CEO Nicolas Hieronimus, told CNBC, warning that the price impact could still hit consumers Hieronimus said he is “not overly concerned” over the impact of White House tariffs on L’Oreal, as the group produces most of its goods sold in … Read more
Europe’s struggling economy has economists worried — and senior European Central Bank policymaker Mário Centeno, echoes that view. “I am very concerned about the European economy,” Centeno, who is also governor of the Bank of Portugal, told CNBC’s “Squawk Box Europe” on Friday. On Thursday, the ECB revised its gross domestic product expectations for the … Read more
Federal Reserve Chair Jerome Powell testifies before the Senate Banking Committee in the Hart Senate Office Building on Capitol Hill on February 11, 2025 in Washington, DC. Chip Somodevilla | Getty Images News | Getty Images Members of the U.S. Federal Reserve’s rate-setting committee unanimously agreed to hold rates steady in January because they were, … Read more
Federal Reserve Chair Jerome Powell testifies before the Senate Banking Committee in the Hart Senate Office Building on Capitol Hill on February 11, 2025 in Washington, DC. Chip Somodevilla | Getty Images News | Getty Images Members of the U.S. Federal Reserve’s rate-setting committee unanimously agreed to hold rates steady in January because they were, … Read more
A coalition of organizations and individuals have signed an open letter expressing concern at the U.K. government’s decision to appoint a former Amazon executive as chair of the Competition and Markets Authority (CMA). The group, which includes U.S. tech outfits such as Yelp, DuckDuckGo, and Mozilla, say that the CMA must be “free from political … Read more
European Union flags flutter on the day European Central Bank (ECB) President Christine Lagarde speaks to reporters following the Governing Council’s monetary policy meeting in Frankfurt, Germany September 12, 2024. Jana Rodenbusch | Reuters The European Central Bank is “not overly concerned” by the impact of inflation abroad on the euro zone, the institution’s President … Read more
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