President Donald Trump's efforts to fire Federal Reserve Governor Lisa Cook could jeopardize the central bank's independence, according to longtime investor Rebecca Patterson."We shouldn't ignore this at all. This is a big deal what's going on," the former Bridgewater Associates chief investment strategist told CNBC's "Fast Money" this week.Patterson, now...
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Core inflation rose to 2.9% in July, highest since February
Inflation edged higher in July, according to the Federal Reserve's preferred inflation measure, indicating that President Donald Trump's tariffs are working their way through the U.S. economy.The personal consumption expenditures price index showed that coreinflation, which excludes food and energy costs, ran at a 2.9% seasonally adjusted annual rate, according...
Lamborghini CEO says tariffs are causing even the wealthiest buyers to pause
Uncertainty around tariffs has caused even the wealthiest buyers of Lamborghini supercars to hold off on their purchases, CEO Stephan Winkelmann told CNBC.While the White House recently announced an agreement with Europe on a 15% tariff rate, that rate hasn't yet taken effect for cars. Lamborghini and other European automakers...
Gap stock falls as retailer misses sales expectations, warns tariffs will impact profits
Gap stock fell in extended trading on Thursday after the company warned tariffs will impact its profits moving forward.When Gap last reported results in May, it said it expected tariffs to cost between $100 million and $150 million on a net basis, but on Thursday, it said those costs are...
Trump’s Cook firing will likely end up in the Supreme Court’s hands
The U.S. Supreme Court is shown March 17, 2025 in Washington, DC. Win Mcnamee | Getty ImagesPresident Donald Trump's unprecedented attempt to fire Federal Reserve Board Governor Lisa Cook will likely end up in the hands of the Supreme Court, according to Wall Street economists and analysts.Trump on Monday evening claimed...