Trump’s Tariff Message: I’m in Charge of the Economic Agenda [WSJ]
“In his first term, there was a lot of bluster that ended up getting walked back,” Andy Laperriere, policy analyst at Piper Sandler, said in a note to clients Tuesday. “We expect plenty of bluster but more follow through in a second term because most of his staff is generally not going to try to talk him out of things like this.”
Fed’s preferred inflation gauge rises to 2.3% annually, meeting expectations [CNBC]
Excluding food and energy, core inflation showed even stronger readings, with the increase at 0.3% on a monthly basis and an annual reading of 2.8%…. Despite the rise in headline inflation, traders increased their bets that the Fed would approve another rate cut in December.
Musk Calls for Abolishing Consumer Agency GOP Has Long Targeted [Bloomberg via Yahoo!]
“Delete CFPB. There are too many duplicative regulatory agencies,” Musk wrote in a post on his social-media platform X early Wednesday…. During his first term, Trump took steps to largely neutralize the agency, easing the CFPB’s enforcement of banks. But under President Joe Biden and Director Rohit Chopra the agency has taken an aggressive regulatory approach to consumer finance, cracking down on home foreclosures and bank overdraft fees.
Trump Taps Kevin Hassett to Lead National Economic Council [NYT]
Hassett was an economist at the American Enterprise Institute, a conservative think tank in Washington, when Mr. Trump chose him to serve as the administration’s top academic economist in 2017. In that role, he was a vocal defender of Mr. Trump’s tax cuts and trade policies. He departed the administration in mid-2019.
Driverless Tech Firm Pony AI’s Shares Sink 7% After US IPO [Bloomberg]
The IPO adds to the modest revival in Chinese companies listing in the US, led by auto firms including self-driving car company WeRide Inc. and EV maker Zeekr Intelligent Technology Holding Ltd. With Pony’s offering, Chinese companies have raised $1.2 billion via US IPOs this year, nearly double the amount in the same period in 2023 but below the heights seen during the pandemic.
India’s NTPC Green Energy rises 12% in trading debut [Reuters via MSN]
NTPC Green’s $1.2 billion IPO garnered bids worth $1.8 billion last week and was oversubscribed by two times, as investors flocked to the rapidly-expanding sector amid the government’s push to increase the usage of renewable energy.
Hedge Fund RTW Probed by SEC Over Role in Masimo Proxy Fight [Bloomberg via Yahoo!]
Masimo, a health-care technology company, had been engaged in a proxy fight with activist hedge fund Politan Capital Management. In September, two Politan nominees were elected to the board, beating out two of the company’s directors, including founder and Chief Executive Officer Joe Kiani, who subsequently resigned.
A month later, Masimo sued Kiani, alleging that he and RTW colluded on an “empty voting” scheme aimed at manipulating the election.
Shares of drone maker Unusual Machines soar after Donald Trump Jr. joins advisory board [CNBC]
In an S-1 filing on Wednesday, Unusual Machines says its consumer business “has been heavily dependent on Chinese imports for our products and operations,” and raises the risks of President-elect Trump imposing tariffs on Chinese imports.
