From Morningstar: 2025-05-09 09:23:00

Alastair Campbell does not believe any finance minister has a ‘get out of jail free’ card in the current tough economic conditions, influenced by Trump’s tariffs. He highlights the importance of considering market reactions in policy-making. Campbell questions whether Keir Starmer’s cabinet is equipped to lead the UK through challenges, emphasizing the need for a national story. The debate on rising youth unemployment and job insecurity is crucial, with AI and economic inequality being key factors. Campbell is encouraged by Mark Carney’s political response to Trump and stresses the importance of leaders navigating their relationships with the US President effectively. Ollie Smith discusses the importance of independence for institutions like the Bank of England in light of Trump’s attacks on the US Federal Reserve. Trump is known for undermining institutions that hold him accountable, like Jerome Powell. Andrew Bailey faces similar pressures but without political interference, maintaining the Bank of England’s independence and specific policy decisions. The article does not promote any securities mentioned.



Read more at Morningstar: Alastair Campbell at MIC UK: Tariffs Are No Excuse…