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Greg Mckenna

Greg Mckenna

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U.S. could lose $23 billion in GDP and 230,000 jobs if foreign tourists stay away, study says

For every dollar no longer spent by visitors to the U.S., an additional $1.19 is lost throughout the economy.

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Fortune

Greg Mckenna

JPMorgan launches ‘lean and mean’ geopolitics arm as Jamie Dimon warns of changing world order

Wall Street is tapping longtime Washington insiders for help navigating an increasingly uncertain landscape.

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Fortune

Greg Mckenna

Japan’s farm minister is in trouble after boasting that he never buys rice after getting so much of it for free

Agriculture minister Taku Eto's comment hit a nerve in a nation where the price of the much-loved grain has nearly doubled year-on-year.

20.05.2025 10

Fortune

Greg Mckenna

The first U.S. credit downgrade triggered a ‘flight to quality.’ Will the latest cut from Moody’s do the same? 

It’s no secret the national debt is on an unsustainable path.

20.05.2025 10

Fortune

Greg Mckenna

Apple blocks Fortnite on iOS globally, Epic Games says, weeks after the developer scored a big win in court

Apple initially removed Fortnite from the App Store in 2020 after Epic Games tried to skirt commissions on in-app purchases.

17.05.2025 10

Fortune

Greg Mckenna

Jerome Powell says the Fed can afford to ‘wait and see’ before cutting rates. Other economists aren’t so sure

A data-dependent approach might leave the central bank playing catch-up.

08.05.2025 9

Fortune

Greg Mckenna

Fed might have to pick between solving unemployment or inflation, Powell says

Fed Chair Jerome Powell said the central bank hasn’t faced such a scenario in a “long time.”

08.05.2025 10

Fortune

Greg Mckenna

Federal Reserve doesn’t budge on interest rates as Trump tariff uncertainty still reigns

Investors are pricing in two to four cuts by the end of the year.

07.05.2025 10

Fortune

Greg Mckenna

Defense contractor Palantir says ‘massive cultural shift in the U.S.’ has justified 20 years of thankless toil. ‘We were the freak show … and we spent 20 years for this moment’

The AI darling’s U.S. revenue grew 55% year-over-year to $628 million as CEO Alex Karp offered bullish guidance.

06.05.2025 20

Fortune

Greg Mckenna

After Sovereignty’s Kentucky Derby win, the UAE’s prime minister has a shot at the Triple Crown

Dubai’s Godolphin has become the world’s most dominant horse racing stable, but its owner has faced serious accusations.

06.05.2025 5

Fortune

Greg Mckenna

Trump got a strong jobs report, but not in the way he necessarily wanted

The bulk of new jobs in April came from industries that do not necessarily reflect the administration’s priorities.

02.05.2025 2

Fortune

Greg Mckenna

Robinhood says customers deposited a record $6.5 billion in April as active traders try to profit off market chaos

CEO Vlad Tenev said the company has become “more resilient” by targeting sophisticated retail investors.

01.05.2025 3

Fortune

Greg Mckenna

Top Trump economist derided as ‘incoherent’ on tariffs after closed-door meeting with investors

The dollar’s decline undermines Stephen Miran’s claim that other nations, not U.S. consumers, will “pay” for tariffs.

01.05.2025 20

Fortune

Greg Mckenna

BlackRock CEO Larry Fink is the latest executive to have his pay package targeted by proxy advisor ISS

Fink’s compensation jumped 33% from $26.9 million to $36.7 million after a banner year in 2024.

30.04.2025 10

Fortune

Greg Mckenna

A record number of Americans are only making their minimum credit card payment

Consumer sentiment has fallen more over the last three months than during the 2008 financial crisis.

29.04.2025 10

Fortune

Greg Mckenna

The China trade war will pummel America’s small businesses, Apollo economist says

Shipping between the world’s two largest economies has nosedived since mid-April.

26.04.2025 9

Fortune

Greg Mckenna

Investment bankers have ‘work-from-beach’ dreams crushed after Citi shutters its Málaga office

Economic headwinds may force junior employees to prioritize job security over work-life balance.

26.04.2025 9

Fortune

Greg Mckenna

Elon Musk says Tesla will have ‘thousands’ of Optimus robots by year’s end, but China slapping controls on rare earths is hobbling production

President Donald Trump’s punitive tariffs provoked Beijing into demonstrating one of its key points of leverage.

23.04.2025 8

Fortune

Greg Mckenna

Trump says he now wants daylight saving time to be permanent. The president of Save Standard Time thinks the ‘MAHA’ movement can help push back

Advocates of standard time say it’s better for peoples’ circadian rhythms, or “biological clocks.”

23.04.2025 9

Fortune

Greg Mckenna

Even fellow critics of the Federal Reserve want Trump to back off Powell as stocks and the dollar both slide

When politics interferes with the central bank’s ability to set monetary policy, inflation tends to be the result.

21.04.2025 3

Fortune

Greg Mckenna

Hedge funds are the new ‘shadow banks’—and some are worried they pose a systemic threat to financial stability

The $800 billion ‘basis trade’ underlines how risky bets help keep the financial system humming.

20.04.2025 10

Fortune

Greg Mckenna

Warren Buffett and Jamie Dimon want billionaires to pay their fair share to Uncle Sam. But a ‘millionaires tax’ would likely affect all the wrong people

America’s wealthiest individuals earn much more from capital gains and dividends than wages or salaries.

19.04.2025 40

Fortune

Greg Mckenna

Jerome Powell insists the Fed’s independence is enshrined in law. The Supreme Court might change that

Markets would likely be very spooked if the president could choose to influence monetary policy.

18.04.2025 3

Fortune

Greg Mckenna

Jamie Dimon argues JPMorgan can help fix the bond chaos if regulators get on board — ‘It’s not relief to the banks, it’s relief to the markets’

The Treasury market helps the global economy go-round, and Wall Street is watching closely for signs the Fed may need to intervene.

12.04.2025 7

Fortune

Greg Mckenna

Inside the bond market’s $800 billion ‘murder mystery.’ Here’s why the basis trade could be a time bomb—and what the Fed can do to stop it

One of Trump’s head economists said the spike in yields added “urgency” to the decision to pause the president’s reciprocal tariffs.

11.04.2025 20

Fortune

Greg Mckenna

Treasury Secretary Scott Bessent denies bond market panic pushed Trump into backing down on tariffs

Hedge funds typically profit handsomely from the $1 trillion ‘basis trade,’ but the Federal Reserve could be forced to step in as yields surge.

09.04.2025 2

Fortune

Greg Mckenna

Treasuries typically provide safe haven, but bond yields are spiking again as investors debate the Fed’s next move

Trump’s tariffs initially had investors piling into bonds before this week’s selloff.

09.04.2025 9

Fortune

Greg Mckenna

Stocks closed mixed in most volatile session since the pandemic as Wall Street is ‘starting to find a bottom’

Heightened volatility might have paradoxically helped share prices stabilize after last week’s historic sell-off.

08.04.2025 10

Fortune

Greg Mckenna

Stocks set to post worst quarter in 3 years as investors wait in fear for ‘Liberation Day’

Trump wants tariffs to pay for tax cuts, but investors have received few updates on the latter.

31.03.2025 3

Fortune

Greg Mckenna

Markets may be past peak tariff uncertainty, even as investors weigh new tax on auto imports and brace for ‘Liberation Day’

The “American exceptionalism” trade might not be dead yet, fund managers told Fortune.

28.03.2025 7

Fortune

Greg Mckenna

Markets gave up on the ‘Trump put,’ but Bank of America says it’s alive and well

Treasury Secretary Scott Bessent has rejected suggestions the president will reorient his policies to support equity prices.

27.03.2025 20

Fortune

Greg Mckenna

Why lowering the yield on 10-year bonds is more important to Trump than the stock market or interest rates

Roughly six in 10 U.S. adults report owning stock, but nearly 80% of American households have some type of debt.

27.03.2025 9

Fortune

Greg Mckenna

JD Vance says the Suez Canal only matters for European trade. He was both correct and mistaken at the same time, a top strategist says

Attacks on tankers or, worse, a wider conflict in the Arabian Peninsula, could spur stagflation.

26.03.2025 40

Fortune

Greg Mckenna

Tesla has $1.4 billion that seems to have gone astray, potentially raising questions about the company’s controls

Accounting experts say there are plausible explanations for the discrepancy as Elon Musk tries to rally the EV giant.

23.03.2025 40

Fortune

Greg Mckenna

Markets get respite from ‘Trumpcession’ fears as Federal Reserve keeps two interest rate cuts on the table

Stocks have tumbled amid President Donald Trump’s on-again, off-again tariff threats and global uncertainty.

20.03.2025 9

Fortune

Greg Mckenna

Gold prices are smashing record highs but it’s still a risky bet — ‘You’re not sending gold to buy your Domino’s pizza,’ finance expert warns

Americans are increasingly pessimistic about the economy and expect inflation to rise, the Michigan consumer sentiment survey revealed.

15.03.2025 9

Fortune

Greg Mckenna

Trump’s chief economist has a blueprint to force countries to pay for tariffs without reigniting inflation, but he says the path to success is narrow

Stephen Miran’s vision largely depends on the dollar strengthening relative to foreign currencies.

13.03.2025 9

Fortune

Greg Mckenna

Business leaders urge a long view over tariff turmoil—but consumers and companies are spooked

One big worry is that businesses will decide to delay investment as the saga continues.

12.03.2025 9

Fortune

Greg Mckenna

Trump’s tariff threats caused the VIX to surge. Is it a momentary spike or the start of a global contagion?

The index has shot up dramatically on several occasions recently, only to then retrace rapidly.

12.03.2025 10

Fortune

Greg Mckenna

Goldman Sachs’ chief economist just downgraded the entire U.S. economy as Trump’s latest tariff salvo rattles markets

The storied investment bank has forecast GDP growth to come in below Wall Street’s consensus for the first time in 2½ years.

11.03.2025 3

Fortune

Greg Mckenna

Stock market implodes as Trump tariffs and recession nightmares spook investors

The president and his economic officials have indicated they are willing to endure short-term pain to reshape America’s economy.

11.03.2025 6

Fortune

Greg Mckenna

The bond market is pricing in a Trump recession as investors protect their portfolios

Yields fell sharply Monday as the new administration’s on-again, off-again tariff threats dent confidence.

11.03.2025 4

Fortune

Greg Mckenna

A bond sell-off that began in Germany is causing borrowing costs to spike around the world

A $1.3 trillion German spending deal and commentary from the European Central Bank has also prompted yields to surge in the U.S. and elsewhere.

06.03.2025 4

Fortune

Greg Mckenna

The architect of Trump’s first tax cuts says the plan to scoop out overtime pay and Social Security from taxes is ‘very expensive’ but tips are feasible

The Goldman Sachs alum did not endorse all the new administration’s policies.

06.03.2025 10

Fortune

Greg Mckenna

Elon Musk is ‘the inventor of our age’ and won’t be distracted by DOGE, Tesla bull Cathie Wood says

Ark Invest’s flagship product has lagged well behind the S&P 500 in recent years, and shares of the EV maker have plunged 28% this year.

06.03.2025 4

Fortune

Greg Mckenna

Elon Musk is ‘the investor of our age’ and won’t be distracted by DOGE, Tesla bull Cathie Wood says

Ark Invest’s flagship product has lagged well behind the S&P 500 in recent years, and shares of the EV maker have plunged 28% this year.

05.03.2025 7

Fortune

Greg Mckenna

Tariffs, layoffs, and immigration — the triple threat to economic growth that has Wall Street worrying about the U.S. economy

Tariff fears and soft economic data have traders debating whether a recession is on the horizon.

03.03.2025 3

Fortune

Greg Mckenna

Donald Trump is getting the lower yields he wanted—because investors fear America’s growth is slowing

Stocks dipped this week as investors grappled with softer economic data and renewed tariff threats.

28.02.2025 6

Fortune

Greg Mckenna

A former JPMorgan employee has accused the bank of obscuring the true size of its trading business to evade capital requirements

JPMorgan was accused of evading capital requirements created to prevent another financial crisis—a claim the bank denies. Is the Fed looking the...

28.02.2025 8

Fortune

Greg Mckenna

Trump has a path to killing the Fed’s independence. How this unofficial norm came to exist

The Supreme Court could overturn precedent that protects chair Jerome Powell from being fired.

27.02.2025 10

Fortune

Greg Mckenna