Bloomberg Daybreak: Europe Edition
Trump Hits Powell Again, Tariff Toll Grows, Swiss Defense Stifled
Apr 30, 2025
20:36
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Quick takeaways
- President Trump's ongoing criticism of Fed Chair Jerome Powell raises concerns about the Federal Reserve's independence amidst falling consumer confidence.
- Switzerland's strict neutrality policies hinder its defense industry, limiting export opportunities and affecting relationships with European nations amid rising tensions.
Deep dives
Trump's Economic Pressures and Criticism of the Fed
Amid concerns over the Federal Reserve's independence, President Trump has been vocal in his criticism of Fed Chair Jerome Powell, suggesting that interest rates should be lowered. He claims to possess superior knowledge about interest rates and monetary policy, which he believes could enhance economic conditions. While Trump's rhetoric indicated he might not fire Powell, his consistent pressure raises uncertainty for investors regarding the Fed's autonomy. This environment of doubt is compounded by falling consumer confidence and troubling economic indicators, including a stark drop in China's factory activity as a result of imposed tariffs.
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