Bloomberg News Now April 22, 2025: Tesla Rallies on DOGE Timeline, Trump Says He Won't Fire Powell, More
Apr 23, 2025
Dive into the intriguing world of economic strategies as Trump pushes for interest rate cuts. Explore Tesla's latest earnings and the hurdles it faces amidst a turbulent market. Hear insights on the ongoing U.S.-China tariff negotiations, with warnings about their unsustainable nature. The discussion also touches on the complex landscape of trade tariffs and their potential impacts on various sectors, including automotive. Don't miss the connection between economic decisions and industry reactions!
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Trump's Fed Rate Frustration
- President Trump expressed frustration with the Fed for not cutting interest rates quickly.
- He clarified he has no intention of firing Fed Chair Jay Powell despite this frustration.
Tesla's Earnings and Musk's Doge Effort
- Tesla initially saw a stock dip after earnings missed estimates.
- Elon Musk then announced reducing time on the Trump administration's doge effort and reaffirmed commitment to fighting waste and working with the administration.
Intel's Major Restructuring Effort
- Intel plans a major restructuring to cut over 20% of staff.
- The goal is to eliminate bureaucracy and improve competitiveness under new CEO Pat Gelsinger.