The Federal Reserve is facing increasing pressure from both investors and former President Donald Trump to lower interest rates, with Chairman Jerome Powell expected to make his concluding remarks today at the central bank's annual conference in Jackson Hole, Wyoming. His speech is anticipated to clarify the Fed's policy direction. While markets are primarily predicting a 0.25% rate cut in September, analysts at Deutsche Bank noted on Tuesday that Powell's comments could still "add uncertainty."
Meanwhile, court filings on Thursday revealed that Elon Musk reached out to Meta founder and CEO Mark Zuckerberg earlier this year in an effort to entice him to join Musk's unsolicited $97.4 billion bid to acquire the nonprofit overseeing OpenAI. This announcement comes amid Musk's ongoing legal battle with OpenAI, which began last year after he sued the company for shifting to a for-profit model.
