Federal Reserve Chairman Kevin Warsh's Speech, Old Navy Leadership Change, Anthropic Legal Victory
Federal Reserve Chairman Kevin Warsh is set to deliver a keynote speech at the Jackson Hole symposium in Wyoming. Economists are divided on whether he will provide insights into rate outlooks or broader policy goals. Old Navy announced that Michael Francis will become its new CEO, succeeding Haio Barbeito who led the brand since 2022. The leadership change is part of Gap's strategy to revitalize Old Navy amid weak sales. Following this news and a mixed quarterly report, shares of Gap surged over 16% in extended trading. Anthropic secured a legal victory as a federal judge ruled that the Pentagon illegally designated it a supply chain risk due to its restrictions on how AI models can be used by government agencies.
Topics: Federal Reserve inflation interest rates Jackson Hole symposium Kevin Warsh