Your morning briefing, the business news you need in just 15 minutes.
On today's podcast:
(1) Federal Reserve Chair Jerome Powell said the recent performance of the US economy has been “remarkably good,” giving central bankers room to lower interest rates at a careful pace.
(2) Bank of England Governor Andrew Bailey has warned Chancellor of the Exchequer Rachel Reeves not to raise tariffs in retaliation to an expected wave of US-led protectionism, amid fears that President-elect Donald Trump will kick off a global trade war once he is sworn in next year.
(3) Rachel Reeves said the UK’s crackdown on banks in the wake of the global financial crisis has gone too far and vowed to give the country’s watchdogs new marching orders to ensure they’re focused on growing the economy.
(4) JPMorgan Chase Chief Executive Officer Jamie Dimon said President-elect Donald Trump’s tariff threats will “get people to the table,” adding that he hopes it’s “done wisely.” Trump ruled out giving a post to Dimon in his second-term administration in a jab at the prominent Wall Street chief executive officer.
(5) China’s economy showed encouraging signs as retail sales grew at the strongest pace in eight months, indicating Beijing’s recent stimulus efforts have boosted some key sectors.
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