The rupee extended its losses, weakening toward a record low after US President Donald Trump announced plans to impose tariffs of at least 25% on Indian exports, higher than previously anticipated. https://t.co/QQvxqE6ShE ...

Tariffs Impact & Mitigation - Ford experienced an $800 million impact from tariffs in Q2 and expects a $2 billion impact for the full year [1] - The company is in productive conversations with the administration to mitigate the tariff impact [2] - Ford aims to reduce its tariff bill due to multiple layers of tariffs on imported parts, despite manufacturing 80% of its vehicles in the US [6] - The company is working with the administration to simplify tariffs and decrease the burden to become more competitive with imported brands [14] Quality & Recalls - Ford had a $570 million charge in Q2 related to recalls [8] - Initial quality is now competitive, with Ford being the most awarded company and brand in IQS JD Powers initial quality [9] - Recalls are primarily related to vehicles engineered from 2015 and 2016, often involving software updates [9] - The company expects recalls to potentially increase as it enhances quality inspections and addresses issues in older vehicles [10] - Warranty coverages are decreasing due to quality improvements [11] Trade Deals & Competitiveness - EU and Japan trade agreements offer a $5,000 benefit for Ford, which manufactures most of its products in the US [13] - The company is working with the administration to address the layering of tariffs to improve competitiveness [13][14]

We do want to turn back now to the today's big news on the economy. I'm joined now by NBC News senior White House correspondent Garrett Hake and CNBC senior economics reporter Steve Leeman and Thomas Hanik, former president of the Federal Reserve Bank of Kansas City. He's now a distinguished senior fellow at the Meritus Center at George Mason University.Thank you all for joining us. Really appreciate it. Garrett, let me start with you.The president has not been shy at all about trying to pressure the Fed to ...

You're right. It's been a very dynamic time for these trade negotiations and um lots and lots of events in the intermedating period, but we we're still, you know, a ways away from seeing where things settle down. We are clearly getting more and more information and um you know, I think at this point people's estimates, our estimates, outside estimates of the of the likely um you know, effective effective level of tariffs is is not moving around that much at this point.But at the same time there are many man ...

to our panel on this. So, we got what we expected, Francis. We got no cut.Okay. We got two descents from Fed governors. First time since 1993, before you were born even.Okay. I wish this this descent happened. What is Jerome Powell going to do at the next few meetings.Cuz he's on his way out and his legacy is I don't want to say on the line, but what he does is kind of how we're going to remember him because that's how things work. I might take a step back and say there's so much focus right now on Chair Po ...

It feels like the price of a cup of coffee is rising dramatically. Is this true. And what have you found in your reporting on this.>> Yes, absolutely. So, it's up 12.7% since last June with the price of ground coffee at $8.13% in June and that's up about a dollar since January. Basically what I can tell you is that in 2023 and 2024 there were adverse weather conditions in major coffee producing countries and that helped contribute to rising prices as well as the cost of shipping.And how are tariffs related ...

Trade Policy - US increased tariffs on Brazilian exports to 50% [1] International Relations - US retaliated against Brazil for alleged attacks on free speech and a "witch hunt" against former President Jair Bolsonaro [1]

Federal Reserve (The Fed) & Interest Rates - The biggest public misunderstanding about the Fed is the idea that lower interest rates are a reward for good economic behavior, rather than a tool to manage the economy [1][2][3] - The economy is confusing, with mixed signals from unemployment and inflation indicators, making a strong case for a rate move difficult [4][5] - There's no clear case for the Fed to move rates, and anyone confident about the correct move isn't paying attention [5] - The Fed's "transitory" inflation call was conceptually correct but numerically off, and criticisms of the Fed being behind the curve were wrong [7][8][9] - Politicizing the Fed is a clear intention, with potential for "Turkey-style" economic policy if political constraints were absent [13] Trade & Tariffs - The long-term effect of Trump's tariffs is estimated to reduce GDP by 04%, which is significant but not catastrophic [18][19] - Markets may be correctly concluding that the trade situation will settle down into a world of high tariffs, leading to a slightly poorer economy but not a depression [20][21] AI & Technology - AI, or rather large language models, are not truly "thinking" but statistically predicting responses based on existing knowledge [24][25] - Significant job displacement due to AI is possible, as many jobs don't require deep thinking [25] - It's possible to believe that some AI stock prices are in a bubble while also acknowledging that AI is a seriously important new technology [23]

Hershey beating on the top and bottom lines despite raising estimates estimated sorry fullear costs of tariffs to between 170 and 180 from between 15 and 20 million. A bittersweet earnings call for CEO Michelle Buck planning to step down very soon August 18th joining us exclusively on CNBC for a final broadcast interview as Hershey CEO. Michelle Buck, welcome.It's good to have you. It's it's been good to have you throughout, you know, your tenure as as CEO, Michelle, but just on on this current quarter, I'm ...

Steven Madden said tariffs are making it too hard to gauge how its business will perform, so it’s not providing an outlook for the rest of the year https://t.co/86vglS3kCn ...