Fed Chair Powell 'quite hawkish all around', says Jefferies' David Zervos
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
3 minutes ago
- Yahoo
Trump Says He'll Likely Name Temporary Fed Governor to Open Seat
(Bloomberg) -- President Donald Trump indicated he would likely nominate a temporary Federal Reserve governor to fill the soon-to-be vacant seat on the central bank's board within the coming days, rather than use the seat to signal his choice to replace Jerome Powell as chairman. All Hail the Humble Speed Hump Mayor Asked to Explain $1.4 Billion of Wasted Johannesburg Funds Three Deaths Reported as NYC Legionnaires' Outbreak Spreads Major Istanbul Projects Are Stalling as City Leaders Sit in Jail PATH Train Service Resumes After Fire at Jersey City Station 'We're probably going to go with the temp and then a permanent,' Trump told reporters Wednesday at the White House. 'I think the temp is going to be named, I'd say, over the next two, three days, and then we're going to go permanent.' Fed Governor Adriana Kugler announced last week that she plans to vacate her role on Aug. 8. That gives Trump a choice. He can elevate someone to serve out the rest of her term, which expires in January, and keep weighing his options for the more prominent chair role, or he can make a decision on the Fed chair role months earlier than he'd planned and announce that now. Several of those on Trump's Fed short list are outsiders, and the president isn't guaranteed to get another chance to name a new board member before Powell's term as chair expires in May. While Fed chairs typically step off the board when they step down, he does have the option to stay on and deny Trump a second opening. Powell's underlying post as a governor extends into 2028 and he has so far declined to reveal his plans. Advisers had encouraged the president to name a short-term pick first, simply to complete Kugler's term that expires in January. That approach would give Trump weeks or months more to interview candidates to serve as chair. And it's the strategy Trump said Wednesday he's leaning toward. Trump said he was considering 'probably' three candidates for the temporary position, adding that they could come from Wall Street. 'Yeah, essentially, we're all from Wall Street, aren't we, when you get right down to it?' Trump said. He added that Commerce Secretary Howard Lutnick, Treasury Secretary Scott Bessent, and Vice President JD Vance were among the advisers participating in the process. Separately, Trump reiterated that he considered 'the two Kevins' — former Federal Reserve Governor Kevin Warsh and National Economic Council Director Kevin Hassett — as top candidates for the Fed Chair role when it becomes open. --With assistance from Justin Sink. (Updates with additional details on Fed timing and selection process starting in fourth paragraph.) Russia's Secret War and the Plot to Kill a German CEO The Pizza Oven Startup With a Plan to Own Every Piece of the Pie AI Flight Pricing Can Push Travelers to the Limit of Their Ability to Pay Government Steps Up Campaign Against Business School Diversity The GOP Is Choosing Pesticides Over the MAHA Moms ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
33 minutes ago
- Yahoo
Warner Bros. earnings, Fed talk, jobless claims: What to Watch
Asking for a Trend host Josh Lipton takes a look at the top stories for investors to watch on Thursday, Aug. 7. In the morning, Eli Lilly (LLY), Toyota (TM), ConocoPhillips (COP), Constellation Energy (CEG), and Warner Bros. Discovery (WBD) will report earnings. In the afternoon, Take-Two (TTWO) will report results. Atlanta Federal Reserve President Raphael Bostic will deliver remarks. Initial jobless claims data for the week ending Aug. 2 will be posted in the morning. Economists are expecting an uptick from the previous reporting period. To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend. Time now for what to watch Thursday, August 7th, starting off on the earnings front. No rest for the weary this earnings season. We'll be getting some more reports on Thursday. It's going to include Eli Lilly, Toyota and Take Two Interactive. Eli Lilly announced the results for the second quarter before the markets open. Obesity drugs will remain in focus for Eli Lilly and new drugs in the pipeline. It's coming against the backdrop of President Trump's looming tariffs on the pharma industry, and also saying the company's full year financial guidance could also be raised barring any major surprises in the quarter. And turning to the Federal Reserve, Atlanta Fed President Rafael Bostic is speaking on Thursday. This is coming after continuing commentary from President Trump around a potential successor for Fed Chair Jerome Powell. Trump saying on Tuesday that the list is down to four people, but that Treasury Secretary Scott Bessette will not be nominated for that role. And finally, we're going to be getting some fresh jobs data on Thursday with weekly initial jobless claims, economists forecasting claims to tick up to 222,000, signaling what could be more softening in the labor market.
Yahoo
an hour ago
- Yahoo
Trump Says He'll Likely Name Temporary Fed Governor to Open Seat
(Bloomberg) -- President Donald Trump indicated he would likely nominate a temporary Federal Reserve governor to fill the soon-to-be vacant seat on the central bank's board within the coming days, rather than use the seat to signal his choice to replace Jerome Powell as chairman. All Hail the Humble Speed Hump Mayor Asked to Explain $1.4 Billion of Wasted Johannesburg Funds Three Deaths Reported as NYC Legionnaires' Outbreak Spreads Major Istanbul Projects Are Stalling as City Leaders Sit in Jail PATH Train Service Resumes After Fire at Jersey City Station 'We're probably going to go with the temp and then a permanent,' Trump told reporters Wednesday at the White House. 'I think the temp is going to be named, I'd say, over the next two, three days, and then we're going to go permanent.' Fed Governor Adriana Kugler announced last week that she plans to vacate her role on Aug. 8. Advisers had encouraged him to take that approach because it would give him additional time to interview candidates to serve as chair. Trump said he was considering 'probably' three candidates for the position and that they could come from Wall Street. 'Yeah, essentially, we're all from Wall Street, aren't we, when you get right down to it?' Trump said. He added that Commerce Secretary Howard Lutnick, Treasury Secretary Scott Bessent, and Vice President JD Vance were among the advisers participating in the process. Separately, Trump reiterated that he considered former Federal Reserve Governor Kevin Warsh and National Economic Council Director Kevin Hassett as top candidates for the Fed Chair role when it becomes open. Russia's Secret War and the Plot to Kill a German CEO The Pizza Oven Startup With a Plan to Own Every Piece of the Pie AI Flight Pricing Can Push Travelers to the Limit of Their Ability to Pay Government Steps Up Campaign Against Business School Diversity The GOP Is Choosing Pesticides Over the MAHA Moms ©2025 Bloomberg L.P. Sign in to access your portfolio
