As the week comes to an end, let’s take a look at some of the most significant stories that made headlines. From the Supreme Court’s potential tariff ruling in favor of Costco Wholesale Corp. (NASDAQ:COST) to Jamie Dimon’s future political aspirations, here’s a quick round-up of the week’s top economic stories.
Supreme Court’s Delay In Tariff Ruling A Sign Of Potential Victory For Trump?
The Supreme Court’s decision to postpone the ruling on the legality of President Donald Trump’s tariffs could indicate a favorable outcome for the Trump administration. JPMorgan analysts, Amy Ho and Joyce Chang, suggested that the longer the court takes to reach a decision, the more likely it is to lean towards the Trump administration, despite legal experts predicting otherwise.
Read the full article here.
Jamie Dimon Rules Out Fed Chair Role, But Would Consider ‘Secretary Of The Treasury’
Jamie Dimon, the CEO of JPMorgan Chase & Co. (NYSE:JPM), has categorically denied any possibility of leading the Federal Reserve in the near future. However, he is open to serving as the Secretary of the Treasury if asked by the President.
Read the full article here.
Trump’s Economy ‘is Booming’ Despite Fed’s ‘Highest Interest Rates On Earth’
Kevin Hassett, the Director of the National Economic Council, defended the strength of the U.S. economy under President Donald Trump. He attributed the thriving economy to Trump’s policies, despite the Federal Reserve’s tight monetary policy.
Read the full article here.
Trump’s Threats To Jail Jerome Powell Could Spark ‘Hyperinflation’ Fears, Warns This Economist
Economist Justin Wolfers criticized the Trump administration’s latest move to threaten the Federal Reserve with a “criminal indictment” over its headquarters renovation project. He warned that such authoritarian tactics could lead to “hyperinflation,” comparing the situation to countries like Argentina, Russia, and Venezuela.
Read the full article here.
Peter Thiel Donates $3 Million To Fight California Wealth Tax
Venture capitalist and Palantir (NASDAQ:PLTR) chairman Peter Thiel has donated $3 million to a committee opposing the proposed California wealth tax targeting billionaires. This initiative, put forward by a state health care union, aims to tax California residents worth over $1 billion by 5% of their assets to offset federal budget cuts impacting the state’s healthcare system.
Read the full article here.
Photo: lev radin / Shutterstock.com
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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