Economy

Fed vs. inflation
Trump's new outcome: Calls Powell a "stubborn idiot"

Donald Trump continues to direct sharp criticism at Federal Reserve Chairman Jerome Powell. In a post on Truth Social, he writes that the central bank's board should run over the "stubborn idiot" if he continues to refuse to lower interest rates.

Trump's statement comes after the Fed left interest rates unchanged on Wednesday, while also downgrading forecasts for the US economy.

Powell has so far expressed that the Fed is well positioned, given the remaining uncertainties about the effects of Trump's tariffs.

Unexpectedly weak labor market in the US: 73,000 new jobs in July

73,000 new jobs were created outside the agricultural sector in the US in July, according to official statistics.

This is clearly lower than analysts' expectations, which were between 100,000 and 115,000 new jobs.

Bloomberg notes that this is the first time in five months that the outcome came in lower than estimates.

At the same time, the Bureau of Labor Statistics revised down the figures for May and June to 19,000 and 14,000 new jobs, respectively.

Unemployment in July amounted to 4.2 percent in July, in line with expectations. Average hourly wages also came in largely as expected, increasing by 3.9 percent at an annual rate.

Tesla's future
A sharp decline in Tesla sales in Sweden

In July, the number of newly registered Tesla cars in Sweden decreased by 85.8 percent compared to the same month last year, according to statistics.

During the same period, Tesla has fallen from first to eleventh place among the best-selling electric cars in Sweden.

New obesity drugs
Crisis for Novo Nordisk – has lost 1,000 billion

Donald Trump's demand for lower drug prices in the US is reinforcing the decline in Novo Nordisk shares, several media outlets report. At closing, the shares were down 1.8 percent on the Copenhagen Stock Exchange.

Earlier this week, the shares plunged more than 20 percent after a profit warning. The company also announced that it is making changes at the management level, including a change of CEO. The announcements did not calm the market.

In one week, the shares have lost a third of their value, equivalent to approximately 1,000 billion Swedish kronor, writes DI. The newspaper writes that the loss corresponds to almost a quarter of the country's GDP, which in 2024 was 4,209 billion kronor.