World Business Report Trump rows back on threats to Fed Chairman
Jul 16, 2025
Tensions are brewing between President Trump and Federal Reserve Chairman Powell as Trump criticizes interest rate policies. A Russian demographer warns of a looming labor shortage that could affect 10 million people by 2030. Meanwhile, Prada faces backlash for cultural appropriation during Milan Fashion Week, highlighting the need for better support for local artisans. The podcast also discusses emerging consumer trends in luxury markets and the challenges facing renewable energy in the US, driven by recent legislative changes.
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Fed Independence Under Pressure
- The tension between President Trump and Fed Chair Jerome Powell shows the challenge of balancing political pressure and the Fed's independence.
- Despite Trump's criticism, Powell aims to maintain stable monetary policy focusing on inflation and unemployment.
Fed Chair's Independence Matters
- The Federal Reserve's independence is crucial for controlling inflation despite political pressures.
- Attempts to replace Powell before term end would require legal cause, which is complicated.
Prada's Sandal Scandal
- Prada caused outrage by selling Kolapuri sandals without crediting their Indian origin.
- This sparked a rare global conversation about cultural appropriation and brand responsibility.