Trump Targets Powell, Traders Dump US Assets, $2 Trillion Tariff Hit

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) President Donald Trump warned the US economy may slow if the Federal Reserve does not move to immediately reduce interest rates, in his latest broadside against Fed Chair Jerome Powell. (2) Stocks and bonds fluctuated, and a gauge of the dollar headed for a fourth day of losses as little progress in tariff negotiations and growth concerns about the US prompted investors to pare bets in a volatile market. (3) Bloomberg Economics estimates President Trump's "liberation day" tariffs will shave about $2 trillion off global output by the end of 2027, relative to a scenario where border taxes had stayed unchanged. Policy uncertainty (it's still not clear where tariffs will settle) and modelling uncertainty (the shocks have no precedent in the post World War II data) mean the error band around that forecast is wide. (4) The US set new duties as high as 3,521% on solar imports from four Southeast Asian countries, delivering a win for domestic manufacturers while intensifying headwinds already threatening the country’s renewable power development. (5) The College of Cardinals will meet in Conclave in about two weeks to elect Francis' successor, with about 135 cardinals having the vote. The election could threaten Francis' legacy as a reforming pope, as the church could swing away from his positions on issues such as LGBTQ rights. (6) Podcast conversation : Building a Better Manosphere See omnystudio.com/listener for privacy information.