Trump attacks Fed as the only problem for economy
President Trump blasts the Federal Reserve calling it the sole issue facing the economy. Markets fall as Wall Street absorbs his critique while Powell defends inflation control and four rate hikes this year. Analysts warn that challenging Fed independence risks destabilizing growth and financial stability.
MENTIONED IN THIS ARTICLE
Wharton School
University of Pennsylvania
Fed
Powell
Trump
White House
Not Very Merry Stocks Plunge Before Christmas
U S stocks fell sharply as President Trump attacked the Federal Reserve on Christmas Eve fueling fears of political pressure on Jerome Powell. Treasury Secretary Mnuchin spoke with six banks but market jitters persisted amid concerns about the economy global growth and ongoing trade tensions with China.
MENTIONED IN THIS ARTICLE
Donald Trump
Federal Reserve
Jerome Powell
Fed
Wall Street
Trump
U.S
China
Trump White House
Powell
Peter Conti-Brown
White House
U.S. Central Bank
Treasury
Steven Mnuchin
Central Bank
Wharton School of the
University of Pennsylvania
South Korea fines BMW over engine fires and recall issues
South Korea will fine BMW 11.2 billion won and file a criminal complaint over a delayed recall response after about 40 engine fires linked to exhaust gas recirculation coolers. BMW Korea apologized, recalled 172,000 vehicles across 65 models in mid and late 2023, and said leaks in EGR coolers caused the fires with overheating high speeds. The ministry alleges deliberate cover up and slow action, while BMW Korea cites coolant leaks and hardware faults as the cause. no injuries reported in Korea.
MENTIONED IN THIS ARTICLE
Seoul
South Korea
BMW
Transport Ministry
BMW AG
BMW Group
Junghyun Kim
BMW Korea
Also Mentioned on This Page
Richard Shelby
Alabama
Banking Committee
Shelby
Capitol
Washington
Susan Walsh
Creo
Hobby Lobby
Tse
Nie RE Hk
Hobbylobby.com
New York Stock Exchange
New York
Seth Wenig
Alex Veiga
BMW Siom
Ahn Young-Joon
Dow Jones Industrials
Standard & Poor
Russell
NYSE
Fite
Bristol-Myers Squib
CMS Energy Corp
Chemical Financial
Fifth Third Bancorp
Ford Motor Company
General Electric GE
Gentex Corp Gntx
Huntington Banc Hban
Illinois Tool Works Inc. Itw
Johnson Controls Jci
Macatawa Bank Corp
MCBC
Magna International
Mercantile Bank Corp Mbwm
Herman Miller, Inc. Mlhr
Perrigo Company Prgo
Pfizer, Inc. Pfe
Spartan Nash Sptn
Steelcase Inc. Scs
Tennant Company Tnc
Whirlpool Corp
WHR
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