Stocks Retreat After Powell’s Speech

US stocks are cooling off following a rally sparked by Federal Reserve Chair Jerome Powell’s speech at Jackson Hole. Investors are now focusing on the Fed’s next steps amid fluctuating market conditions.

Summers Discusses Fed and Economic Risks

Lawrence Summers, former US Treasury Secretary, joined Opening Bid to analyze potential risks posed by the Fed’s decisions and the economic fallout from tariffs implemented during Trump’s administration.

Trump’s Influence on the Fed

Summers addressed former President Trump’s calls for the resignation of Fed governor Lisa Cook, highlighting the ongoing tension between political figures and central bank leadership.

US Government’s Stake in Intel

The discussion also covered the US government’s 10% ownership in Intel (INTC), reflecting on its implications for the tech sector and broader economic landscape.