Wall Street Breakfast Bulls cheer Trump-Powell detente, Elon-Tesla reunion
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Apr 23, 2025 President Trump reassures the market by stating he won't fire Fed Chair Powell, boosting investor optimism. Tesla sees a surge as Elon Musk shifts focus back to the automaker. Meanwhile, Intel plans to cut 20% of its workforce, signaling a major restructuring. The discussion highlights key economic indicators and the ripple effects of political shifts on stock futures.
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Trump Retains Powell Amid Market Relief
- President Trump withdrew plans to fire Fed Chair Jay Powell, reassuring investors about Federal Reserve independence.
- However, Trump's earlier threats have already damaged the perception of the Fed's autonomy.
Trump Eases China Trade Concerns
- Trump signaled softer trade talks with China, planning to reduce tariffs substantially but not eliminate them.
- This raises hope for lessening the tax burden on U.S. consumers.
Musk's Tesla Recommitment
- Elon Musk recommitted to Tesla by reducing his government work and focusing on autonomous vehicles and robotics.
- He said Dogecoin work is mostly done and will reduce his time spent on it starting in May.