Bloomberg Daybreak: US Edition Trump Changes Tone on Powell & Tariffs; Musk Will Refocus on Tesla
Apr 23, 2025
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Trump Won't Fire Fed Chair Powell
- President Trump clarified he has no plans to fire Fed Chair Jerome Powell, despite his frustrations with the Fed's pace on lowering interest rates.
- He wants more aggressive rate cuts since this is a crucial time for monetary easing, but firing Powell is off the table.
Trump Softens China Tariff Stance
- Trump signals a softer trade stance, saying tariffs on China will drop if a deal is reached, but not to zero.
- China reciprocates with openness to trade talks, emphasizing no winners in trade wars and the damage caused to the global economy.
China Warns Tariffs Harm All
- Chinese officials highlight that tariffs and trade wars harm global economic order and the legitimate interests of all countries.
- The message is that cooperation is more beneficial than prolonged tariff escalation and conflict.