Last week was marked by a flood of financial news. Billionaires could face a minimum tax, there were calls for rapid interest rate cuts and former President Donald Trump which indicates a say in Federal Reserve decisions.

Elon Musk, Jeff Bezos and other billionaires could face minimum tax

economist Gabriel ZucmanProfessor of economics at the Paris School of Economics and the University of California, has suggested that a minimum tax on billionaires could soon become a reality due to the alarming concentration of global wealth. According to Zucman, just 3,000 people currently own $14.4 trillion in wealth, which is 13 percent of global GDP.

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Jeremy Siegel calls for rapid interest rate cuts

Finance Professor at the Wharton School, Jeremy Siegelhas withdrawn his earlier call for an emergency rate cut by the Federal Reserve. However, he continues to argue for a quick and drastic cut in the federal funds rate and is calling on the Federal Reserve to quickly cut the benchmark rate to 4%.

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See also: Fed rate cuts could prevent recession, say 75% in Benzinga poll: Majority see market decline as temporary

Jim Cramer supports Trump because of his taxpayer friendliness

Host of CNBC Mad Money Jim Cramer has suggested that a Trump White House could be beneficial for income earners and those who have invested in the stock market. Cramer believes the former president would cut income taxes.

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Jamie Dimon predicts an impending recession

CEO of JPMorgan Chase & Co. Jamie Dimon has reiterated his prediction of an impending recession in the US economy despite current economic stability. He also expressed skepticism about the Federal Reserve’s ability to reduce inflation to its 2% target.

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Trump proposes presidential influence on Federal Reserve decisions

Former President Donald Trump has suggested that presidents should have the power to influence the Federal Reserve’s interest rate decisions, potentially challenging the central bank’s political independence.

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This story was created with Benzinga Neuro and edited by Ananya Gairola

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