WASHINGTON (Reuters Breakingviews) - The White House’s cold shoulder could slow Donald Trump’s economic agenda. David Nason, chief executive of GE Energy Financial Service, has withdrawn from the running to be vice chair of supervision at the Federal Reserve, the company confirmed on Wednesday. Administration officials declined to offer support after critics noted his role at the Treasury Department in arranging bailouts of the 2008 crisis.
WASHINGTON (Reuters Breakingviews) - Donald Trump is creating a closed-door spinoff of the reality-TV show that helped make him famous. The U.S. president’s support for Brexit and criticism of the European Union has unnerved its members. Allies are privately scrambling to get through the White House door. Call it the “European Apprentice.”
WASHINGTON (Reuters Breakingviews) - Steven Mnunchin’s stock-market brag could turn out to be a double-edged sword. The new U.S. Treasury secretary says the post-election rally in the equities market reflects faith in President Donald Trump and his promises for tax reform and fiscal stimulus. Both plans need approval from Congress, and may be accompanied by higher inflation. Anti-immigrant and trade policies could also mute market gains.
WASHINGTON (Reuters Breakingviews) - Ailing U.S. farmers are getting swept up in the country's immigration crackdown. The government is moving hastily to deport more illegal workers as part of Donald Trump's America-centric policy. In a dubious effort to protect industries like manufacturing, however, stricter rules will hit an already suffering agricultural sector.
WASHINGTON (Reuters Breakingviews) - The first career businessman to occupy the Oval Office has many corporate analogues to help him navigate his first major political scandal. Like messes that roiled large public companies from Wells Fargo to Valeant Pharmaceuticals, the rising furor over the U.S. national security adviser's misleading statements about his dealings with Russia point to a common problem: the management style of the chief executive.
WASHINGTON (Reuters Breakingviews) - Daniel Tarullo is giving banks a generous parting gift. The tough Federal Reserve governor told President Donald Trump on Friday that he is resigning five years before his term expires in 2022. Tarullo was the most influential architect of post-crisis financial reform, including the stress tests. His exit may be one of the biggest determinants of how banks are overseen.
WASHINGTON (Reuters Breakingviews) - U.S. bankers are suddenly full of hope. They reckon Donald Trump will roll back the 2010 Dodd-Frank reforms, enacted to avoid a repeat of the 2008 financial crisis. Yet the president's executive order calling for a review, signed on Friday, does little that's concrete. Meanwhile, any talk of diluting the rules has Democrats howling.
WASHINGTON (Reuters Breakingviews) - Donald Trump has begun his Supreme courtship. He nominated Neil Gorsuch to replace Antonin Scalia, which would restore a slim conservative majority. There are many reasons to suspect that this could be only the start of a long association with the highest court in the land.
WASHINGTON (Reuters Breakingviews) - There's a lot of talk these days about borders and taxes in Washington. U.S. President Donald Trump wants to hit firms that outsource with a simple tariff on imports. Republicans in Congress have pitched a more complex idea, a border adjustment, built into a corporate-tax overhaul. Breakingviews ticks through the winners and losers.
WASHINGTON (Reuters Breakingviews) - Donald Trump is doubling down on protectionism. He used his first speech as the 45th president of the United States of America to echo his campaign rhetoric, presenting a dark picture of "American carnage" and decay at his inauguration. He's using it to justify his remedy of ending overseas assistance to focus on growth at home. That, though, is likely to quickly come up against harsh global economic realities.