Trump Clashes With Powell, LVMH Sales Slide as China and Japan Luxury Demand Slows | The Pulse 7/25

Donald Trump downplayed his clash with Federal Reserve Chairman Jerome Powell over cost overruns during a tour of the central bank’s renovation project on Thursday, making it clear that he saw the issue of lower interest rates as a more pressing concern.
After a tour that saw Trump and Powell publicly trade barbs over the cost of the project, Trump maintained there was “no tension” with the Fed chief and indicated that problems with the project probably weren’t reason enough to fire the central bank head.
Elsewhere, LVMH sales fell as shoppers reined in purchases of costly Louis Vuitton bags and Dior jackets, a sign the luxury titan remains stuck in its post-pandemic slump.
Revenue at the French group’s fashion and leather goods division, its largest unit, dropped 9% on an organic basis in the second quarter, LVMH Moët Hennessy Louis Vuitton SE said in a statement Thursday. That was worse than analysts’ estimates for a 7.8% drop.

Today’s guests, Angel Ubide, Citadel Global Fixed Income & Macro Economic Research Head, Clemens Fuest, IFO Institute President, Elad Walach, Aidco CEO, Erwan Rambourg, HSBC Consumer & Retail Equity Research Global Head

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“The Pulse With Francine Lacqua” is all about conversations with high profile guests in the beating heart of global business, economics, finance and politics. Based in London, we go wherever the story is, bringing you exclusive interviews and market-moving scoops.

Chapters:
00:00:00 – The Pulse
00:00:50 – Trump, Powell Spar Over Fed Renovation Costs
00:03:10 – Vix Falls to 15, Lowest Since February
00:07:42 – Angel Ubide, Citadel Global Fixed Income & Macro Economic Research Head
00:13:48 – US Tariffs Weigh on Audi, Porsche Margins
00:17:06 – Volkswagen Under Pressure to Cut Costs
00:20:52 – Clemens Fuest, IFO Institute President
00:25:39 – Aid Groups Say Gaza Starvation Spreading
00:30:12 – UK PM Downplays Prospect of US Steel Tariff Deal
00:34:09 – Aidoc Funding Boost
00:38:45 – Elad Walach, Aidco CEO
00:43:29 – Erwan Rambourg, HSBC Consumer & Retail Equity Research Global Head
00:45:49 – LVMH US Sales Flat, Better Than Expected
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