President Trump denies that he's trying to fire Federal Reserve Chair Jerome Powell.
Plus, as banks like Goldman Sachs report bumper quarterly earnings,
does past performance guarantee future results?
The second quarter was a quite good quarter for the large banks, but a lot of uncertainty remains.
And in the world of investment banking,
uncertainty is not something that tends to help growth and deal making.
And how a nearly 50-year-old software giant may become one of the biggest players in artificial intelligence.
It's Wednesday, July 16th.
I'm Alex Osula for The Wall Street Journal.
This is the PM edition of What's News,
the top headlines and business stories that move the world today.
President Trump has denied that he was planning an attempt to fire Federal Reserve Chair Jerome Powell after polling Republican lawmakers during a closed-door meeting about whether he should oust him.
Answering reporters' questions at the White House,
the president suggested he could attempt to remove Powell for cause,
arguing the central bank spent too much money on renovations of two historic office buildings.
I don't rule out anything, but I think it's highly unlikely.
unless he has to leave for fraud.
I mean, it's possible there's fraud involved with the $2.5, $2.7 billion renovation.
This is a renovation.
How do you spend $2.7 billion?