Market Voices: Trump blasts Powell, Xi; Google exec warns on AI risks

Seeking Alpha’s daily roundup of remarks and statements that could impact markets, sectors or individual stocks.

-President Trump took to Truth Social early Wednesday to emphatically urge Federal Reserve Chairman Jerome Powell to lower interest rates in the wake of an ADP jobs report that showed private sector hiring had slowed.

“ADP NUMBER OUT!!! ‘Too Late’ Powell must now LOWER THE RATE. He is unbelievable!!! Europe has lowered NINE TIMES!” Trump wrote in a post on Truth Social.

-Trump also voiced his frustration with China’s President Xi Jinping over ongoing trade negotiations between the two countries.

“I like President XI of China, always have, and always will, but he is VERY TOUGH, AND EXTREMELY HARD TO MAKE A DEAL WITH!!!” Trump said in a post on Truth Social early Wednesday morning.

-The head of Google’s (NASDAQ:GOOG) (NASDAQ:GOOGL) AI group DeepMind said he’s concerned less about the technology destroying jobs and more about it being misused by bad actors.

“A bad actor could repurpose those same technologies for a harmful end,” Demis Hassabis said in an interview with CNN. “And so one big thing is… how do we restrict access to these systems, powerful systems to bad actors…but enable good actors to do many, many amazing things with it?”

-Commerce Secretary Howard Lutnick told a U.S. Senate subcommittee on Wednesday that his department expects to finish an analysis on tariffs on aircraft parts and components by the end of June.

“We’re going to discuss it with the president,” Lutnick said during the hearing. “We’ll discuss the analysis and we’ll take due consideration on what to do.”

-Nissan’s (OTCPK:NSANY) new CEO, Ivan Espinosa, said that the ailing automaker, which reported a fiscal 2024 loss in May, needs to focus on executing its recently announced restructuring plan.

“I think in the short term, the focus that we have is to fix ourselves,” Espinosa said in an interview on CNBC. “We are convinced that the plan is enough and robust.”