Posted on 04/23/2025 2:16:22 PM PDT by RandFan
President Donald Trump’s unprecedented tariffs, particularly on China, and recent attacks on Federal Reserve Chair Jerome Powell caused alarm among some of his top advisers and America’s biggest CEOs, who warned of financial chaos and store shelves that could go bare, people familiar with the conversations said.
The warnings — and the markets’ own volatility this week — seemed to have broken through. Trump backed down Tuesday from his threats to try to remove Powell from the job, telling reporters in the Oval Office: “I have no intention of firing him.”
That prompted sighs of relief on Wall Street. A day after markets boomed on comments from Treasury Secretary Scott Bessent that Trump would seek to de-escalate the trade war with China, US markets gained again on Wednesday.
Top administration officials were also relieved by Trump’s Oval Office statement on Powell, the people familiar with the matter said. The officials had become unnerved by the heated rhetoric and wary of a prolonged legal battle should Trump attempt to unseat the Fed chair.
The Dow closed higher by 420 points, or 1.07%. The broader S&P 500 gained 1.67% and the tech-heavy Nasdaq Composite rose 2.5%.
(Excerpt) Read more at edition.cnn.com ...
There will still be a demand dumbass. They will buy less but there will be no shortages dumbass. Get it dumbass?
‘ Listen economic dumbass and I wil try to explain.’
Lmao
Your combination of arrogance and ignorance is astonishing.
You’re an embarrassment. An economic retard and a TDS fool. You don’t even know the difference between an embargo ( think ‘73 oil embargo ) and a simple duty on an imported product. You are buffoon. Please STHU.
Class clown, so we know how smart you are tell us the difference between an embargo and a tariff? I’ll wait.
The only one talking about embargo is you.
We still have empty shelves ever since covid. Quality is worse too. There’s things that were on the shelves before covid, disappeared during covid, and never came back. The supply chain disruption is still working itself out.
CNN — No thanks. Every click to the CNN website puts money in CNN’s bank account. As an alleged conservative, you must be so proud of yourself /s.
I don’t support their sponsors......
You do not have to support CNN’s sponsors for CNN to make money. CNN makes money from its sponsors based upon web traffic. The more clicks to the CNN website, the higher the web traffic, which allows CNN to charge its advertising sponsors a higher ad rate.
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