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Trump’s Team Hones Message on Economy
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Good morning, CFOs. Trump advisers aim to refine economic messaging; OPEC and allies agree to boost oil production; plus, why corporate bonds are on a tear.
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President Trump has lately turned his focus from the economy to crime and immigration. PHOTO: ANDREW LEYDEN/ZUMA PRESS
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President Trump is changing his tune on the economy, at least for now.
With growing voter concerns about the economy, Trump has turned the spotlight on immigration, crime and settling scores with his perceived enemies, report my colleagues Brian Schwartz and Josh Dawsey. Meanwhile, his advisers are counseling him to refine his economic message with a pitch to voters aimed at easing their anxiety about weak jobs growth and stubborn inflation.
Their new mantra: Just wait until next year, Schwartz and Dawsey
report.
In private conversations with the president, Trump’s advisers, rather than dwell on shaky economic data, have painted a rosy outlook, insisting that data will begin to improve in the first quarter of 2026, according to people familiar with the matter, including senior administration officials.
After a report showing only 22,000 new jobs in August, Treasury Secretary Scott Bessent told Trump he believes the employment numbers will start to tick up once policies from his “Big Beautiful” tax-and-spending law are fully implemented heading into next year, according to a person close to Bessent. Read on here, for the full details.
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Content from our sponsor: Deloitte
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Digital Leaders Boost Procurement Value with Tech and Talent Investments
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Chief procurement officers who invest smartly in technology and talent outperform peers and drive efficiency, cost savings, and strategic value, according to a new global survey. Read More
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Monday
Earnings: Constellation Brands
Tuesday
Earnings: McCormick
The Federal Reserve Bank of New York releases its Survey of Consumer Expectations for September.
Wednesday
The Federal Open Market Committee releases the minutes from its mid-September monetary-policy meeting.
Thursday
Earnings: Delta Air Lines, Levi Strauss and PepsiCo
Friday
The University of Michigan releases its Consumer Sentiment survey for October.
The Treasury Department releases the U.S. Treasury Statement for September and fiscal 2025, assuming the government has reopened.
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What Else Matters to CFOs
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OPEC produces up to 40% of the world’s oil. PHOTO: AHMAD AL-RUBAYE/AFP/GETTY IMAGES
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The Organization of the Petroleum Exporting Countries and its allies agreed on a restrained oil output increase on par with earlier moves, a bet that the group can eke out more revenue without causing a crash in prices.
Eight OPEC+ members led by Saudi Arabia said they would boost production by 137,000 barrels a day in November, the same as the output increase in October, the group said after an online meeting Sunday.
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“We needed to make some changes.”
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—Starbucks Chief Executive Brian Niccol, during an internal company forum Tuesday, a recording of which was reviewed by The Wall Street Journal. Starbucks had a roller coaster of a week in late September, in which the company abruptly closed hundreds of stores and laid off thousands of employees
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Where senior finance leaders confront today’s expanding remit. Connect on capital, regulation, technology, and talent — and lead with clarity.
Request Information.
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The Wall Street Journal's CFO Journal offers corporate leaders and professionals CFO analysis, advice and commentary to make informed decisions. We cover topics including corporate tax, accounting, regulation, capital markets, management and strategy. Follow us on X @WSJCFO. The WSJ CFO Journal Team comprises reporters Kristin Broughton, Mark Maurer and Jennifer Williams, and Bureau Chief Walden Siew. You can reach us by replying to any newsletter, or email Walden at walden.siew@wsj.com.
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