‘Sell America’ Trade Picks Up After New Trump Threats on Fed

WSJ What’s News

The Wall Street Journal

News, Daily News

4 • 4K Ratings

🗓️ 21 April 2025

⏱️ 14 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

P.M. Edition for April 21. U.S. markets were on edge about President Trump's tariff war as well as his threats to fire Federal Reserve chief Jerome Powell. Stocks fell, the dollar hit fresh multiyear lows against major currencies, and yields on longer-term Treasurys rose. Plus, U.S. megabanks are built for business from all corners of the globe. Heard on the Street columnist Telis Demos says that will become tougher in a deglobalized world. And cryptocurrency is pushing deeper into the banking system; banking reporter Gina Heeb has the scoop on the crypto firms planning to apply for bank charters or licenses. Pierre Bienaimé hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	Americans love using their credit cards, the most secure and hassle-free way to pay.
0:04.0	But DC politicians want to change that with the Durban Marshall Credit Card Bill.
0:08.0	This bill lets corporate megastores pick how your credit card is processed,
0:13.0	allowing them to use untested payment networks that jeopardize your data security and rewards.
0:18.0	Corporate megastores will make more money and you pay the price.
0:22.1	Tell Congress to guard your card because Americans lose when politicians choose. Learn more at
0:28.1	guard your card.com.
0:33.1	U.S. markets fall as President Trump renews his attacks on the Federal Reserve.
0:38.8	Plus, how American megabanks may become collateral damage to a global trade war.
0:43.9	You could see countries saying, you know what, this is how we're going to fight this trade war.
0:48.1	You've got to stop doing business with an American bank today.
0:51.0	And why cryptocurrency firms want to start acting like banks. It's Monday, April 21st.
0:57.6	I'm Pierre Biedemae for the Wall Street Journal, filling in for Alex Oslo. This is the PM edition
1:02.3	of What's News, the top headlines and business stories that moved the world today.
1:09.6	The Sell America trade picked back up today.
1:12.8	US stocks fell, the dollar hit fresh multi-year lows against major currencies,
1:17.5	yields on longer-term treasuries rose, and gold surged to another record high.
1:22.9	Markets are on edge about President Trump's tariff war,
1:25.6	as well as his threats to fire Fed Chief Jerome Powell.
1:29.0	In a post on social media today, Trump demanded lower rates, saying costs are trending downward
1:34.3	and the economy could slow, quote, unless Mr. Too Late, a major loser, lowers interest rates now.
1:43.5	The Dow dropped almost 1,000 points. The index is on pace for its worst April since 1932.
	...

Transcript will be available on the free plan in 25 days. Upgrade to see the full transcript now.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from The Wall Street Journal, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of The Wall Street Journal and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.