The message hasn't been subtle: President Trump wants Jerome Powell to lower interest rates now. The Fed Chair has resisted, and now Trump says ballooning costs tied to the renovations of the central bank’s headquarters may give him the grounds he needs to fire Powell. Welcome to the great American tradition of presidents hating on the Federal Reserve, says Christine Harper. Read the long history behind the feuds: https://lnkd.in/eVPG-9z3 📷️: Chip Somodevilla/Getty Images
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Bloomberg Opinion is a non-partisan, global platform for opinion and analysis about pivotal economic, political and cultural issues.
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The good news? A long-overdue conversation on Medicaid reform is happening. The bad news? The latest attempt to do it won't work. Read today’s editorial: https://lnkd.in/emNJZkwr
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Bloomberg Opinion reposted this
Instead of debating whether there is a famine yet in Gaza, stop the war and there won't be one. My column for Bloomberg Opinion https://shorturl.at/XMfzI
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Bloomberg Opinion reposted this
Tesla’s latest earnings were bad. Underlying operations swung back to a profit but were dwarfed by regulatory credits, interest on cash and “other” (read: crypto) income. Free cash flow only stayed positive because of that other income and Tesla underspending on capex again. An air of resignation hung over this call when it came to Tesla’s main business, selling EVs. Guidance is laughably scant and Tesla’s supposed cheaper model remains a mystery despite the company saying it has actually started making it. Of course, when your trillion-dollar valuation rests on talk of robotaxis and robots, maybe that’s the point. Read about it here at Bloomberg Opinion https://lnkd.in/e8us2KY5
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Bloomberg Opinion reposted this
The societal benefits of AI are fuzzy at best while its many downsides are already plain. It makes no sense to give this industry, like fossil fuels, its own free pass on environmental destruction. 🎁 link to my column for Bloomberg Opinion https://lnkd.in/e92CfDwK
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Bloomberg Opinion reposted this
Italy’s government is determined to shape its financial sector to its own liking, frustrating competing visions. That’s bad for the banks involved and their investors. It’s also bad for the country: Many of its firms may become uninvestable. Bloomberg Opinion https://lnkd.in/eqm8R-vh
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ChatGPT is seemingly getting its financial advice from Reddit, and Matt Levine can tell you all about it. Subscribe to his free newsletter: https://lnkd.in/eV55A7pU
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Bloomberg Opinion reposted this
President Trump is crowing about opening up Japan to US auto companies courts as part of the new US trade deal. But it isn’t (non-existent) tariffs that keep US vehicles out of Japanese hands. It’s that Japan doesn’t want the sort of vehicles made in the US. Detroit has mostly retreated from inter auto al markets to sell high-margin trucks and SUVs at home. These aren’t in demand in a country that is densely populated and pays 40% more for gasoline. The deal offers a different kind of hope for Detroit: Hope of a better deal for Canada and Mexico. Read about it here at Bloomberg Opinion https://lnkd.in/ecE2g2u9
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Bloomberg Opinion reposted this
Size alone isn't enough to win, Jamie Dimon wrote in his first CEO letter two decades ago. “In fact, if not properly managed, it can bring many negatives.” JPMorganChase is now SO much larger, has $60bn of excess capital burning a hole in its pocket nd trades at nearly 2.5-times reported book value. What it does with its power and spare equity is real challenge that could pose risks for the bank itself and the wider economy. Buying back stock isn't a great deal, acquisitions are tough and the bank has learned some hard lessons, growth through lending in a volatile environment and with credit spreads at historically tight levels is a risky option, too. Here are my views on what it is about Dimon's management style that has kept the bank on an even keel and a winning run so far - and why preserving that throughout its next crop of leaders so that they don't buckle under the pressure to chase growth is so important to what happens next. Read more at Bloomberg Opinion>> https://lnkd.in/ewM6-7Tt
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Bloomberg Opinion reposted this
Donald Trump still has seven-eighths of his second term left to leave his mark on the world as the “peacemaker” he promised to be in his inauguration speech — and thereby to bag that Nobel Peace Prize he so unsubtly keeps asking for. In the meantime, how about an interim assessment? Especially since he’s already offered his own. “We've been very successful in settling wars,” the president boasted the other day. “You have India, Pakistan, you have Rwanda and the Congo.” Trump seemed especially proud of pacifying that African conflict as he imagines it, what with those “pretty rough weapons like machetes, heads chopped off.” On he went: “Serbia, Kosovo, got that solved.” Ditto Armenia and Azerbaijan. He’s still working on the Middle East, Trump conceded, “but we’re doing pretty well on Gaza.” What a remarkable riff... (Read the whole column with this gift link) Bloomberg Opinion https://bloom.bg/40wtLxy