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According to Politico: U.S. House Republican Don Bacon said he plans to introduce a companion bill to bipartisan Senate legislation aimed at restoring Congresss authority over tariffs, becoming the first House Republican to publicly challenge the power Trump has used to launch a massive global trade war.April 5th news, the next meeting of the Federal Reserve will be held on May 6-7. The futures market had raised the probability of the Federal Reserve cutting interest rates at that meeting to about 50%, but after Powells speech, the probability fell to about 30%. Market participants hope to see the so-called Fed Put (Fed Put option), that is, the Federal Reserve calms the troubled market by cutting interest rates, but on Friday, their expectations fell through, causing the stock market to fall. "Powells remarks highlight that we are still a long way from the macro environment and market data that may produce a Fed Put," wrote Krishna Guha, chairman of Evercore ISI. "He is seeking to control expectations to reserve room for rate cuts when unemployment rises sharply. Before that, preemptive action is impossible given the scale of the tariff inflation surge." For Powell, there is no rush now. Guha said: "It feels like we dont need to rush, it feels like we still have time."JPMorgan Chase: Predicts a US economic recession in 2025.On April 5, Federal Reserve Chairman Powell made it clear that the Fed will not rush to respond to the comprehensive tariffs imposed by the Trump administration, nor will it respond to the financial market turmoil caused by concerns about a global recession. Powell said at a conference in Virginia on Friday that tariffs could have a significant impact on the US economy, including slower growth and higher inflation. But he added that Fed officials will wait until these policies are clearer before cutting interest rates. He also emphasized that with inflation still high, the central bank has an obligation to ensure that the temporary increase in prices caused by tariffs does not turn into a more lasting increase. "The Fed cant insure the economy as it did in the trade war in 2018 and 2019 because inflation is too high and above their target," said Julia Coronado, founder of research firm MacroPolicy Perspectives. She believes there will be a recession in the second half of this year. "Even if they conclude that they need to cut interest rates, they may cut interest rates later and slower because we will be in the inflationary impulse."Russian drones carried out a "large-scale" attack on Krivoy Rog, Ukraine, following a missile strike, local Ukrainian officials said, starting fires at four locations.

Foxconn's CEO Will Visit A COVID-19-affected IPhone Factory in China - Source

Aria Thomas

Feb 21, 2023 11:24

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Foxconn Chairman Liu Young-way departed Tuesday for a four-day inspection of the company's iPhone manufacturing facility in Zhengzhou, China, according to a source with firsthand knowledge of the situation.


This will be Liu's first visit to the world's largest Apple (NASDAQ:AAPL) iPhone factory in his capacity as chairman. According to a source, his primary objectives will be to examine conditions following the resumption of production and to engage in substantial dialogue.


Once known as Hon Hai Precision Industries Co., Foxconn declined to comment. The source refused to reveal their identity because they were not authorized to speak to the media.


The iPhone plant of the Taiwanese corporation was struck by a COVID-19 outbreak late last year, which caused thousands of worker departures, unrest, and production difficulties.


In January, Foxconn reported that production at its Zhengzhou facility had "returned to normal."