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In a speech on August 22, Federal Reserve Chair Jerome Powell clearly indicated that, given the notable slowdown in the labor market since May, the Fed may lower its benchmark interest rate next month. He also noted that the price-boosting effects of tariffs are emerging, with upside risks to inflation still present, leaving policymakers facing a dilemma. Market expectations for a 25-basis-point rate cut in September have risen to 85.2%.
A five-judge panel of the First Judicial Department of the New York State Appellate Division ruled on Thursday (August 21, 2025), overturning the requirement that Allen Weisselberg, the former chief financial officer of the Trump Organization, repay $1 million in severance, and vacating the over $500 million fine against defendants including Donald Trump and his businesses. The court found the fine constituted an "excessive penalty" in violation of the Eighth Amendment to the U.S. Constitution, but upheld the non-monetary penalties and sanctions set by Judge Arthur Engoron in his February 2024 ruling, including lifetime bans on Weisselberg and former comptroller Jeffrey McConney. The New York State Attorney General's Office said it would seek an appeal.
S&P Global's purchasing managers index released on August 21 shows U.S. business activity expanding at the fastest pace since 2025, with both manufacturing and services strengthening, supporting expectations of 2.5% annualized GDP growth in Q3. However, tariffs are driving up costs and inflationary pressures, leaving the Fed in a dilemma ahead of its September policy meeting: whether to hold rates to curb prices or cut rates to protect employment.
A survey released by Accordion on August 11 shows that 98% of PE investors require CFOs to prioritize AI adoption, but 68% of CFOs indicate hesitation mainly due to a lack of direction. The two sides also diverge on value creation and investment timing, while macroeconomic uncertainty intensifies cautious sentiment.
Dollar General announced on Wednesday that it has appointed Donny Lau, a financial executive who previously served at the company for many years, as Chief Financial Officer, effective October 20. Lau, who previously served as CFO at restaurant chain Zaxby's, returns nearly three years after leaving Dollar General. Current CEO Todd Vasos will serve as principal financial officer during the transition period.
Horizon3.ai appoints Holly Grey as CFO to accelerate global expansion. Grey has over 30 years of financial experience and previously led Exabeam's acquisition by Thoma Bravo. The company recently completed a $100 million Series D funding round led by NEA.
The Treasury Inspector General for Tax Administration (TIGTA) released a report stating that the IRS concealed phone help wait times, with official claims of an average 3-minute wait, while failing to account for an average 17-minute wait for about one-third of callers. The IRS rejected TIGTA's comprehensive reporting recommendations and faces service pressure after layoffs.
The Global CFO Turnover Index released by Russell Reynolds Associates shows that CFO appointments at global listed companies reached 173 in the first half of 2025, an increase of 4 year-on-year, marking the highest level in seven years. Departing CFOs who retired or transitioned to board director roles accounted for 56%, while the internal promotion rate rose to 57%. The analysis suggests that the record number of CEO departures in 2024 (202, up 9% year-on-year) is one of the main driving factors.
Home Depot executives said during the Q2 2025 earnings call that despite tariffs raising costs on some imported goods, the company remains confident in the current macroeconomic environment and expects customer demand to stay healthy. Meanwhile, the U.S. housing market remains weak, and economic uncertainty is curbing large renovation projects.
Francois Motte, CFO of Canadian rare earth miner Aclara Resources, is seeking contracts with customers such as automakers to secure over $1 billion in financing to complete the development of South American mines and a U.S. processing plant. The company has not yet signed any offtake agreements and needs a major customer or commitments covering about 50% of production to advance its plans. Motte stated that rare earth pricing is highly volatile, and banks will not lend without commercial contracts. The company may benefit from supply chain restructuring driven by China's export controls and has partnered with Virginia Tech to operate a separation pilot plant.