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Trump’s attacks on Powell threaten the Fed’s independence. Here’s why it matters

Trump’s attacks on Powell threaten the Fed’s independence. Here’s why it matters

By CHRISTOPHER RUGABER, Associated Press Economics Writer

WASHINGTON (AP) — Donald Trump has stepped up his attacks on Federal Reserve Chair Jerome Powell at the same time that the Supreme Court is considering a case that could make it easier for the president to fire him.

The developments are occurring against a backdrop of wider turmoil in the economy and financial markets, brought on by Trump’s sweeping taxes on imports. Most economists worry that an assault on the Fed’s longstanding independence from politics would further disrupt markets and add to the uncertainty enveloping the economy.

In comments at the White House Thursday, Trump suggested he has the power to remove Powell and criticized him for not aggressively cutting interest rates.

“If I want him out, he’ll be out of there real fast, believe me,” Trump said. “I’m not happy with him.”

All the scrutiny threatens the Fed’s venerated independence, which has long been supported by most economists and Wall Street investors. Here are some questions and answers about the Fed. read more

Spirit Airlines names new CEO from discounter Sun Country Airlines

Spirit Airlines names new CEO from discounter Sun Country Airlines

Spirit Airlines has quickly retained a new leader to steer the South Florida-based carrier in the wake of its exit from Chapter 11 bankruptcy.

He is David Davis, 58, who most recently has served as president, chief financial officer and board member at Sun Country Airlines, Spirit announced Thursday.

In a statement, Robert Milton, Spirit’s board chairman, said Davis “brings with him a wealth of experience and a solid track record of accomplishments from his many years in the airline industry. Dave’s background at both Northwest Airlines and, more recently, at Sun Country Airlines, positions him well to lead Spirit’s continued transformation.”

The transformation at Spirit entails attracting higher-paying customers with a wider variety of services as Spirit seeks to boost revenues at a time when traveler volume is declining industrywide.

Davis replaces Ted Christie, who stepped down as president and CEO earlier this month following a 13-year stretch at Spirit. Christie headed the carrier as it navigated through COVID-19, campaigned to improve customer service, restructured its finances through Chapter 11, and stayed the course as an independent airline after unsuccessful takeover bids initiated by Frontier Airlines and JetBlue Airways. read more

Tariffs pose dilemma for Florida’s tourist-oriented retailers: Raise prices or hold ’em?

Tariffs pose dilemma for Florida’s tourist-oriented retailers: Raise prices or hold ’em?

For tourists and gift givers, now may be the time to buy those pink flamingos.

If they haven’t already, President Donald Trump’s tariff wars are seeping into the psyches of retailers in South Florida’s tourism industry. Raise prices or not? Order more stuff in advance in the hopes of averting higher tariffs later?

At Bob Roth’s New River Groves on Griffin Road in Davie, a 61-year-old purveyor of citrus, key lime pies and Florida-centric souvenirs, key pricing decisions already have been made, said Lisa Roth, vice president and the founder’s daughter.

“The price of fresh produce is going up,” she said. “For mangos we have to go overseas because our own backyard mangos aren’t ready yet.”

A glance around the business’s expansive layout shows a variety of imported products that are rising in price: from key chains and shot glasses to plastic cups and shopping bags. Even the ingredients for key lime pies — condensed milk, toppings and lime juice — are more expensive, Roth said. read more

Update: Marvel characters dotting next Disney Cruise Line ship

Update: Marvel characters dotting next Disney Cruise Line ship

Disney Cruise Line has shared the progress on visual elements of its Disney Destiny ship, particularly the Marvel characters that will be found on – and just outside – the vessel.

“We are actively in construction right now. All the blocks of the ship have been assembled, so we’re now moving to the interior of the ship, starting to install finishes,” Beth Burkhardt, principal interior designer with Walt Disney Imagineering, said during a showcase about Destiny while aboard the docked Disney Wish ship at Port Canaveral.

“Each day these spaces are starting to come to life, which is very exciting,” she said.

The new ship, set to sail in November, is currently still at the manufacturer in Germany. Disney is overlaying a “heroes and villains” theme throughout the Destiny.

That starts/ends out the back with Spider-Man clinging to Destiny, much like Goofy bringing up the rear for Disney Magic, Dumbo with Disney Fantasy and Rapunzel on Disney Wish.

“It’s our first-ever Marvel stern character,” Burkhardt said. “And, as always, we love to have a fun, whimsical twist to all of them.” read more

People on the move

People on the move

Architecture

Stephen Szutenbach was appointed principal and Florida practice lead at FCA, Orlando.

Boards of directors

Kris Hanigosky, vice president of operations at Nautique Boat Co., was appointed to the board of directors of FloridaMakes, the Manufacturing Extension Partnership for the state of Florida.

Health care

Robert Jepson was appointed chief operating officer at AdventHealth Daytona Beach.

Cameron Howard was appointed chief executive officer at Oviedo Medical Center.

Hospitality

Dan Sullivan was appointed senior sales manager at Hotel Landy Orlando.

Other

Diane LaVigna was appointed managing director at Blessings in a Backpack Orlando.

Submit professional appointments, management-level promotions and significant awards for individuals, along with photos as .jpg attachments, to peopleonmove@orlandosentinel.com.