Bloomberg Daybreak: Europe Edition Trump to Name New Fed Governor, OPEC+'s Cliffhanger, and BMW's EV Bid
Aug 4, 2025
President Trump plans to appoint a new Federal Reserve governor, potentially reshaping the economic landscape. US stock futures rise as investors react to expectations of interest-rate cuts. Meanwhile, BMW is launching 40 new models to compete in the electric vehicle market. OPEC+ concludes a major chapter in oil production, leaving traders in suspense. From global trade tensions to innovative tech strategies, this podcast covers it all in just 15 minutes!
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Trump's Fed Appointment Impact
- President Trump plans to appoint a new Federal Reserve governor sympathetic to his interest rate policies.
- The new governor could also be a candidate to replace Jerome Powell as Fed chair next year.
US Jobs Data Revision Alarm
- A major jobs data revision showed the past three months as worst US job creation since the pandemic.
- The data changes raised concerns about the US economic outlook and led to firing of BLS chief.
Europe Banks Gain from US Tariffs
- European corporates are moving away from US banks due to trade tensions.
- European banks are gaining market share by taking over this business.