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How Fed Chair Jerome Powell's big decision could impact the upcoming presidential election

Mar 11, 2024 - businessinsider.com
The biggest decision in the upcoming presidential election could be made outside the voting booth, as market watchers are keenly observing when the Federal Reserve will cut interest rates. The decision, which has significant economic implications, is in the hands of Fed chair Jerome Powell. His decision could swing the election either way, as lowering interest rates could be seen as a win for President Joe Biden, providing an immediate boost to the economy and stock market. However, a rate cut could also send inflation soaring again, which could frustrate undecided voters.

In other news, working as an assistant to a top hedge fund manager is never dull, according to a memoir by Carrie Sun, who reportedly worked for Chase Coleman. The book details the lavish gifts and complicated tasks that were part of the job. Meanwhile, Elon Musk's potential motivation behind pitching Tesla to take over OpenAI in 2018 is being scrutinized. In the business sector, investors have reportedly gotten rich by looting needy hospitals, with patients paying the price.

Key takeaways:

  • The biggest decision in the upcoming presidential race could be made outside the voting booth, with Fed chair Jerome Powell's decision on interest rates potentially swinging the election.
  • Lowering interest rates could provide an immediate boost to the economy and stock market, but could also send inflation soaring again.
  • Working for a billionaire hedge fund founder can involve lavish gifts and complicated tasks, according to a memoir by a former personal assistant.
  • Elon Musk suggested that OpenAI raise $1 billion, merge with Tesla, and name him CEO in 2018, potentially as a way to raise capital for the struggling company.
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