Bloomberg News Now July 21, 2025: Pressure on Powell, Ex-Officer in Taylor Case Sentenced, More
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Jul 22, 2025 Explore the mounting pressures faced by Federal Reserve Chair Jay Powell amid economic shifts and political scrutiny. GM's financial challenges due to tariffs spark discussions on cost-cutting strategies, while Sarepta Therapeutics' pause on a gene therapy shipment raises FDA concerns. Delve into how a leading UK retailer enhances efficiency through proactive troubleshooting with digital platforms, emphasizing innovation as a key to staying competitive. Plus, a tribute to a beloved actor reflects on themes of acceptance and love.
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Fed Chair Powell's Job Rumors
- President Trump is rumored to consider ousting Fed Chair Jay Powell, but the White House denies this.
- The independence of the Federal Reserve is critical to avoid highly negative market impacts.
Fed Renovation Under Scrutiny
- Treasury Secretary Scott Besson urges review of Fed's costly Washington headquarters renovation.
- The Fed operates with losses exceeding $100 billion a year, raising concerns about spending.
Officer Sentenced Over Breonna Taylor Case
- Former officer Brett Hankinson was sentenced to almost three years prison for excessive force in Breonna Taylor's death raid.
- This sentencing rejects the DOJ's recommendation of no prison time, with the judge deeming it inappropriate.