Jordan Erb

New York

Newsletter Editor at Bloomberg News

i do newsletters @business

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Articles

US Courts Catch Up With Trump’s Trade War

1 week ago | bloomberg.com | Jordan Erb

The past four months have proven that some branches of the US government move faster than others. While President Donald Trump sprayed the world with repeated barrages of tariffs, litigation challenging his ability to do so quietly advanced in the background. Last night, the first ruling came down, and it immediately upended the signature effort of the 78-year-old Republican’s second term.
US Consumer Confidence Jumps After US-China Trade Truce

1 week ago | bloomberg.com | Jordan Erb

US consumer confidence rebounded sharply in May from an almost five-year low as perceptions of the economy and labor market improved as the Trump administration backed down from more extreme tariffs and tariff threats. The Conference Board’s gauge of confidence increased by 12.3 points to 98, marking the biggest monthly gain in four years. The figure exceeded all estimates in a Bloomberg survey of economists.
Bond Market Shudders as GOP Bill Passes House

2 weeks ago | bloomberg.com | Jordan Erb

US President Donald Trump’s signature tax bill passed the 435-member House of Representatives on Thursday morning by one vote. The sprawling, multitrillion-dollar package proposed by Republicans, which would (among many other things) slash funding for safety net programs in favor of extending tax cuts, is projected to add trillions of dollars to America’s almost $37 trillion national debt. The bill now heads to the Senate, which like the House is also narrowly controlled by the GOP.
Elon Musk Threatens to Dial Back Political Donations

2 weeks ago | bloomberg.com | Jordan Erb

Elon Musk, who funneled much of almost $300 million in recent political donations to Donald Trump’s re-election effort, said on Tuesday he would significantly pull back from political spending. “I’m going to do a lot less in the future,” Musk said during an interview at the Qatar Economic Forum in Doha. “I think I’ve done enough.”However, in the same discussion with Bloomberg’s Mishal Husain, Musk left open the possibility that his money could flow again.
Trump Dumps Waltz as National Security Advisor: Evening Briefing

1 month ago | bloomberg.com | Jordan Erb

US National Security Advisor Michael Waltz is leaving his post, a stunning fall for one of President Donald Trump’s top aides and the first casualty from an unprecedented breach of military secrecy and security by the young administration. It also marks the first high-profile departure of Trump’s second term (he cycled through four national security advisors in his first term).
US Consumer Confidence Keeps Falling on Trump’s Trade War

1 month ago | bloomberg.com | Jordan Erb

As President Donald Trump notches the first 100 days of his second presidency, the general assessment on Tuesday of the 78-year-old Republican’s performance for consumers, companies, the economy and workers was less than celebratory. US consumer confidence fell to an almost five-year low in April on growing pessimism about prospects for the economy and labor market under Trump.
Fed Musings on Rates Spur Market Jump: Evening Briefing Americas

1 month ago | bloomberg.com | Jordan Erb

With fear of a self-induced US recession gripping Wall Street, any news is good news these days. So it can’t be too surprising that stocks spiked in frenzied trading Thursday after a few Federal Reserve officials publicly mused about possibly cutting interest rates in the near future. Federal Reserve Bank of Cleveland President Beth Hammack told CNBC the central bank could move as early as June if it has clear evidence of the economy’s direction.
Grim Tidings for US Investors and the World

1 month ago | bloomberg.com | Jordan Erb

The rotation by investors out of American assets will go on for years if President Donald Trump persists with his global trade war. This is the warning from a strategist who timed the unwind of so-called exceptionalism almost perfectly. Societe Generale’s head of asset allocation Alain Bokobza was a US asset bull for a year up until September 2024, when he warned of cracks in the foundation. He reiterated his call in February, warning investors to slash exposure to US stocks and the dollar.
European Union Isn’t Optimistic About US Trade War Ending Soon

1 month ago | bloomberg.com | Jordan Erb

The European Union and the US made little progress bridging trade differences this week as officials from President Donald Trump’s administration indicated that the bulk of the US tariffs imposed on the bloc will not be removed. The EU’s trade chief, Maros Sefcovic, is said to have left Monday’s meeting in Washington with little clarity on the American stance.
Stocks Resume Their Decline on Trade War Fear: Evening Briefing Americas

1 month ago | bloomberg.com | Jordan Erb

Investor angst over Donald Trump’s tariffs enveloped every corner of Wall Street as US-China trade tensions escalated again Thursday, sparking a new slide in stocks, bonds, the dollar and oil, with liquidations in US assets pointing to disorder in the financial system. A day after dip buyers flocked to markets in the wake of the president’s partial retreat, assets tied to the economic cycle sank again, with Trump’s attempt at mollifying Wall Street providing little relief.