Economy

Fed vs. inflation
Fed governor steps down – opens up for Trump candidate

Federal Reserve Governor Adriana Kugler is resigning from the central bank's board of directors at her own request, according to a press release. Kugler will leave the post she has held since September 2023 next Friday, August 8, to return to her position as a professor at Georgetown University.

- It has been the greatest honor of my life to serve on the Federal Reserve board, she said in a statement.

CNBC notes that the resignation comes at a sensitive time when President Donald Trump is exerting pressure on the central bank to lower interest rates. The announcement opens up for Trump to appoint his own candidate as a replacement, the channel writes.

Donald Trump welcomes Kugler's resignation, which leaves a vacant seat on the board, writes Reuters. The president also claims that the governor had differences of opinion with Fed Chairman Jerome Powell.

US growth
US economy slows down – Trump's policies are pointed out

The US economy is losing momentum rapidly. Growth and consumption have slowed down significantly, and in July only 73,000 new jobs were created – the worst figure since the pandemic. President Trump's policies are pointed out as a reason.

– The labor market has just sounded the alarm, says Fitch's head of analysis Olu Sonola to the Wall Street Journal.

There is no acute crisis yet in sight, but uncertainty is high, according to the newspaper. The government is talking about temporary effects, while economists warn of more shocks later.

Tesla's autopilot accidents
Tesla must pay billions after fatal accident

Tesla is forced to pay 243 million dollars, equivalent to 2.3 billion kronor, in damages to the victims of a fatal accident, reports CNBC.

The jury found that the electric car manufacturer bears a large share of the responsibility because the car's assistance system failed in the accident in Florida in 2019. The driver also admitted that he had lost his phone and decided to look for it because he relied on the Tesla car's self-driving system.

Tesla's stock fell a couple of percent on a dark red Wall Street.

In a post on X, Tesla CEO Elon Musk confirmed that the company will appeal the decision. In a statement, Tesla writes that the verdict is incorrect and will affect the safety of the automotive industry, reports CNBC.