Kate Bullivant

Alvaro Bedoya and Rebecca Slaughter have both called their dismissal illegal, with Bedoya saying that he will challenge it. An FTC spokesman declined to comment. In market news today, it's all about the Fed, with policymakers widely expected to keep rates on hold.

But as finance editor Alex Frangos explains, it'll be Federal Reserve Chair Jerome Powell's speech today that really matters to investors.

But as finance editor Alex Frangos explains, it'll be Federal Reserve Chair Jerome Powell's speech today that really matters to investors.

Fitch Ratings has added its name to a slew of prominent forecasters, downgrading the outlook for world economic growth. Its economic outlook predicts that the global trade war will reduce US and world growth, push up US inflation and delay Federal Reserve rate cuts. The US is now expected to grow 1.7% this year. well below growth rates of closer to 3% in both 2023 and 2024.

Fitch Ratings has added its name to a slew of prominent forecasters, downgrading the outlook for world economic growth. Its economic outlook predicts that the global trade war will reduce US and world growth, push up US inflation and delay Federal Reserve rate cuts. The US is now expected to grow 1.7% this year. well below growth rates of closer to 3% in both 2023 and 2024.

Fears of a recession in the US have grown sharply in the last month, with the Trump administration ramping up tariffs on Canada, Mexico and China, while extending tariffs to imports of steel and aluminum. Coming up, tariffs might be roiling markets and the economic outlook right now, but they're not a new phenomenon. We look at what a decades-old chicken tax tells us about Trump's tariff plans.

Fears of a recession in the US have grown sharply in the last month, with the Trump administration ramping up tariffs on Canada, Mexico and China, while extending tariffs to imports of steel and aluminum. Coming up, tariffs might be roiling markets and the economic outlook right now, but they're not a new phenomenon. We look at what a decades-old chicken tax tells us about Trump's tariff plans.

That story after the break. Since the 1960s, the US has imposed a 25% tariff on imported trucks, after President Lyndon B. Johnson introduced a tax hitting back at European levies on American poultry. The so-called chicken tax may be from the history books, but as the Trump administration pursues a barrage of new tariffs, Auto's reporter Stephen Wilmot explains how it shows the power of tariffs to

That story after the break. Since the 1960s, the US has imposed a 25% tariff on imported trucks, after President Lyndon B. Johnson introduced a tax hitting back at European levies on American poultry. The so-called chicken tax may be from the history books, but as the Trump administration pursues a barrage of new tariffs, Auto's reporter Stephen Wilmot explains how it shows the power of tariffs to

to reshape global trade, competition and industry over decades. Stephen, take us back to the 1960s. What is the chicken tax?

to reshape global trade, competition and industry over decades. Stephen, take us back to the 1960s. What is the chicken tax?

How does the chicken tax compare to the different types of tariffs we're seeing being rolled out today by the Trump administration?

How does the chicken tax compare to the different types of tariffs we're seeing being rolled out today by the Trump administration?

Stephen, what were some of the workarounds to the chicken tax in the 60s?

Stephen, what were some of the workarounds to the chicken tax in the 60s?

So what are the learnings here from looking back at the chicken tax and how it's impacted U.S. industry?

So what are the learnings here from looking back at the chicken tax and how it's impacted U.S. industry?

Stephen, thanks so much for taking us on this history lesson and how that's impacting what we're seeing today.

Stephen, thanks so much for taking us on this history lesson and how that's impacting what we're seeing today.

And in other market news, we're exclusively reporting that activist investor Starboard Value is preparing to wage a proxy fight at the design software maker Autodesk. Starboard reportedly has a more than $500 million stake in Autodesk and intends to nominate a minority slate of director candidates ahead of the tech company's coming annual meeting.