Ackman retracts claim that Lutnick ‘profits when our economy collapses’
Ackman is expressing regret for accusing Lutnick of being “indifferent” to a stock market downturn due to the potential for profit.
“It was unjust of me to lash out at @howardlutnick,” Ackman stated.
“I don’t believe he is acting out of self-interest. I am confident he is doing his utmost for the country while serving as Commerce Secretary under the President. It is a challenging role and we are not privy to all the intricacies involved.”
This clarification follows Ackman’s earlier accusation against Lutnick and his investment banking firm, Cantor Fitzgerald, made nine hours prior.
“I just realized why @howardlutnick is apathetic toward the stock market and the economy’s downturn. He and Cantor are heavily invested in bonds. He benefits when our economy falters,” Ackman tweeted on Sunday evening.
“It’s ill-advised to select a Secretary of Commerce whose firm is heavily leveraged in fixed income. This presents a fundamental conflict of interest.”
— Kevin Breuninger
Trump celebrates decline in oil prices, linked to recession fears, as a success
U.S. President Donald Trump speaks to the press aboard Air Force One during a flight to Joint Base Andrews, Maryland, U.S., April 6, 2025.
Kent Nishimura | Reuters
Trump is highlighting the significant drop in oil prices — prompted by apprehensions regarding decreased demand amid an impending recession — as a political triumph.
“Oil prices are falling, interest rates are declining (the sluggish Fed should lower rates!), food costs are down, there is NO INFLATION, and the historically exploited USA is generating billions weekly in tariffs from offending countries already in effect,” Trump announced in his latest post on Truth Social.
“This is in spite of the fact that the most notorious offender, China, whose markets are plummeting, has just increased its tariffs by 34%, on top of its long-standing exorbitantly high tariffs (Plus!), ignoring my warnings to abusing nations not to retaliate,” he continued. “They’ve profited enough over decades by taking advantage of the Good OL’ USA!”
Trump also attributes blame to previous U.S. leaders for “letting this” occur.
— Christina Wilkie
Trump’s agenda today: Receiving L.A. Dodgers, followed by Israeli prime minister
U.S. President Donald Trump greets Israeli Prime Minister Benjamin Netanyahu at the White House entrance in Washington, U.S., on February 4, 2025.
Leah Millis | Reuters
Trump has two notable public appearances on his schedule today.
11:00 a.m. ET: Trump will welcome the World Series-winning Los Angeles Dodgers to the White House, as per his official agenda.
2:30 p.m. ET: Netanyahu, one of Trump’s staunch allies, will join the president for a joint press conference at the White House.
Netanyahu’s last visit to the White House was in February, as the U.S. aimed to finalize the second phase of a cease-fire agreement in Gaza. However, that plan did not hold, and Israeli forces have since resumed ground operations in the region.
CNBC CEO survey: One-third anticipate job cuts this year due to tariffs
CNBC’s most recent CEO survey reveals that a majority of participating CEOs now foresee a recession by year’s end. Among them, nearly half believe that if a recession occurs, it will be moderate in severity.
Approximately one-third of the CEOs predict their companies will have to make job cuts in 2025 as a result of Trump’s tariff policies.
— CNBC Staff
