Stocks retreated as traders cut risk ahead of Friday’s US inflation data that may test expectations on how quickly the Federal Reserve can reduce interest rates. Fed Chair Jerome Powell’s dovish tilt at Jackson Hole shored up bets on the first rate cut of the year next month, but doubts still linger over what comes after that move, with inflation stuck above target.
Meanwhile Federal Reserve Governor Christopher Waller again called for lower interest rates, saying he would support a quarter-percentage point reduction in September and anticipates additional cuts over the next three to six months.
Staying with the Fed, Federal Reserve Governor Lisa Cook’s lawyers suggested that an unintentional “clerical error” may have been behind the mortgage dispute over which President Donald Trump wants her fired. Cook sued Thursday to block Trump’s “illegal attempt,” saying he’s using a phony pretext that doesn’t amount to sufficient “cause” to remove her from the US central bank. In court papers, her lawyers laid out for the first time a potential defense to allegations that she fraudulently listed homes in Michigan and Georgia as a “primary residence” when she obtained mortgages in 2021.
Today’s guests: Karim Chedid, BlackRock Head of EMEA Investment Strategy, Michele Della Vigna, Goldman Sachs Head of EMEA Natural Resources Research, Elisabeth Braw, Atlantic Council Senior Fellow
"The Pulse With Francine Lacqua" is all about conversations with high profile guests in the beating heart of global business, economics, finance and politics. Based in London, we go wherever the story is, bringing you exclusive interviews and market-moving scoops.
Chapters:
00:00:00 – The Pulse
00:01:14 – Waller Sees Quarter-Point Cut in September
00:05:29 – Karim Chedid, BlackRock Head of EMEA Investment Strategy
00:10:08 – Cook Signals ‘Clerical Error’ May Be Behind Mortgage Dispute
00:14:07 – Xi Sharpens Mission for Alliance Built to Rival US-Led Order
00:16:59 – Trump Escalates War on Wind Power
00:19:36 – Michele Della Vigna, Goldman Sachs Head of EMEA Natural Resources Research
00:24:34 – Merz Says Putin and Zelenskiy Won’t Meet
00:28:30 – Elisabeth Braw, Atlantic Council Senior Fellow
00:34:03 – French Premier Seeks Narrow Path to Political Survival
00:37:23 – UK Lenders Slump as Reeves Faces Renewed Calls for Bank Tax
00:40:39 – UK PLC Lines up to Woo Nigel Farage’s Reform
00:45:45 – Alibaba to report 1Q Results
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