European Central Bank President Lagarde suggests the global economy has not yet felt the full impact of tariffs and highlights technological advancements, especially AI, as major transformative forces. She also views the US-China trade tensions as partly posturing, emphasizing the need for dialogue despite current hostilities.
The European Central Bank's President Lagarde is expected to face scrutiny over issues related to France, amid upcoming leadership changes at the ECB and ongoing economic uncertainties influenced by US trade disputes and political tensions.
US Treasury Secretary Scott Bessent defended the Fed's independence amid criticism from Trump, while ECB President Lagarde warned that Trump's interference could threaten the global economy. The article also covers Guatemala's willingness to accept deported children, criticism of RFK Jr's leadership at CDC, Trump planning to award Rudy Giuliani the Medal of Freedom, and nationwide Labor Day protests advocating for workers' rights.
ECB President Christine Lagarde warns that President Trump's attempts to influence the Federal Reserve threaten global economic stability, emphasizing the importance of US monetary independence and noting the legal and political challenges Trump faces in firing Fed officials. She also comments on political risks in France and the stability of the French banking system amid current uncertainties.
Lagarde warns that Europe's economic growth heavily relies on migration to offset demographic decline and labor shortages, citing Germany and Spain as examples, but political resistance may limit future inflows, posing risks to the eurozone's resilience.
The article discusses Pope Leo's efforts to secure financial support from MAGA megadonors to bolster the Church's finances, amidst other global economic and political updates including Christine Lagarde's tenure at the ECB and Bulgaria's euro adoption plans.