Businessweeks editorinchief, joel weber. We begin with jay powell. Joel take something complicated and simple it down. The cover is an expression of that this week. Jay powell, fed chair, probably the most important person in the world of finance. The Financial Institution that is probably the most important anywhere in the world and for a year now, hes been the target of trumps friend are ire, because trump wants lower rates, lower rates, and jay powell has basically been a stoic figure through all of that. Anol we believe this is independent organization and for the first time, we are wondering is it going to remain independent . And can they continue to fend off the executive branchs desire for lower rates . We will see what happens this next week with rate cuts. The market basically thinks there will be a rate cut. The bigger story is one we wanted to ask to dig into, which is for a year now, weve lived through the tension between trump and powell, more from trump than from powell.
Elon musk announces his latest startup nuero link, successfully implanting wires into brains and enabling a monkey to control the computer. The next goal is human trials. We begin with the hearings on capitol hill. All appearing in washington to answer lawmaker questions on antitrust, social media, and cryptocurrency. The first was facebook as the Banking Committee fired searing questions at the cocreator of the cryptocurrency project. We will take the time to get this right. Wouldnt it be easier and safer if people could securely receive money transfers, just like they do for so many other things . Emily the chief was grilled on tuesday. We caught up with the senator after the hearing. I think Blockchain Technology, even the possibly of cryptocurrencies, it has some positive upside, but i think we have to be careful. Particularly when we are talking but the possibility that facebook might dominate this otherwise very disruptive technology. Facebook already has 2 billion users. It has
The cover is an expression of that this week. Jay powell, fed chair, probably the most important person in the world of finance. He heads the Financial Institution that is probably the most important anywhere in the world and for a year now, hes been the target of trumps friend are ire, because trump wants lower rates, lower rates, and jay powell has basically been a stoic figure through all of that. Carol we believe this is an independent organization and for the first time, we are wondering is it going to remain independent . And can they continue to fend off the executive branchs desire for lower rates . We will see what happens this next week with rate cuts. The market basically thinks there will be a rate cut. The bigger story is one we wanted to ask to dig into, which is for a year now, weve lived through the tension between trump and powell, more from trump than from powell. It is onesided, for sure. What effect has not had on the fed . What chris got to was, not much of an effe
Powerful one. Joel weber is here. What a fascinating read. It was not what we were expecting. This was a culmination of a a writer project, with who was going to travel around the world and wanted to come to us with something special. Up with ano come amazing idea to hear from laborers, workingclass people who most of us would never hear from. Carol it is a global story that took a lot of time and a lot of reporters and translators. Im a as shely went around the world, she would look for people that she thought would embody the spirit of the local community. Isn the beauty of this work that it captures their voice. We hear from them directly in their voice. It is not reporting in a traditional sense, it is more like being told to the mark and you get to hear from people working in amazon factories in europe as a syrian refugee, or in alec tronics in electronics in asia. There are cogs in the Global Economy we do not usually get to hear from. Now it is important because they are facing
Joel weber is here. What a fascinating read. It was not what we were expecting. This was a culmination of a yearlong project, with a writer who was going to travel around the world and wanted to come to us with something special. We wanted to come up with an amazing idea to hear from laborers, workingclass people who most of us would never hear from. Carol it is a global story that took a lot of time and a lot of reporters and translators. We basically im a as she went around the world, she would look for people that she thought would embody the spirit of the local community. Then the beauty of this work is that it captures their voice. We hear from them directly in their voice. It is not reporting in a traditional sense, it is more like being told to the mark and you get to hear from people working in amazon factories in europe as a syrian refugee, or in electronics in asia. There are cogs in the Global Economy we do not usually get to hear from. Now it is important because they are f