Beautiful Things
Wednesday, April 23rd, 2025
World Events — Trump Says He Has No Intention of Firing Powell
Bloomberg
President Donald Trump stated he has "no intention" of firing Federal Reserve Chair Jerome Powell, despite recent criticism urging faster rate cuts, clarifying that media speculation overstated his stance6. Trump emphasized wanting Powell to act "early or on time" on rate reductions, calling it a "perfect time" to lower borrowing costs amid his view that inflation concerns are overblown, while the Fed has held rates steady at 4.25%-4.5% in 2025 after cutting them by 100 basis points in late 2024. The Fed remains cautious, balancing upside inflation risks from tariffs against slowing growth projections, with markets anticipating roughly 50 basis points of cuts this year.
Tech — Intel Continues Its Layoff
Bloomberg
Intel plans to cut over 20% of its workforce this week as part of a major restructuring under new CEO Lip-Bu Tan, aiming to reduce bureaucracy and refocus on an engineering-driven culture, following last year’s 15,000 job cuts and amid efforts to regain competitiveness against rivals like Nvidia and TSMC. The layoffs, which could affect approximately 22,000 employees based on Intel’s 2024 workforce of 108,900, come as the company seeks to streamline operations, improve its balance sheet, and prioritize core manufacturing and product development. This move follows recent strategic shifts, including selling a majority stake in its Altera unit and delaying factory expansions, as Tan works to reverse years of market share losses and technological challenges.
Business — Tesla Sees a 20% Quarterly Decline on Revenue
Bloomberg
Tesla reported a 20% year-over-year decline in automotive revenue to $14 billion for Q1 2025, missing Wall Street estimates with $19.34 billion in total revenue and $0.27 adjusted EPS, as factory retooling for Model Y updates, lower vehicle ASPs, and rising AI-related costs contributed to a 71% net income drop and 66% operating income decline. The company avoided an automotive operating loss through $595 million in regulatory credits and highlighted growth in energy storage (67% revenue increase), while cautioning that Trump administration tariffs and political tensions could disrupt supply chains and demand. Shares initially stabilized post-earnings, buoyed by broader market optimism after Trump reaffirmed Fed Chair Powell’s position, but remain down 41% year-to-date amid uncertainty over 2025 guidance and delayed new vehicle programs.
Relationship — How to Be a Better Friend
Verywell Mind
Being a better friend is less about grand gestures and more about consistently showing up with presence, empathy, and respect for boundaries, according to therapists. Good friends listen without judgment, validate each other's feelings, check in regularly, and celebrate each other's successes, all while honoring personal boundaries and avoiding toxic behaviors like being overly judgmental or giving unsolicited advice. Strong friendships not only provide emotional support but also boost mental and physical health, lowering risks of anxiety, depression, and even premature mortality. Supporting friends through mental health challenges means listening and validating rather than trying to fix their problems, and sometimes gently encouraging professional help when needed. Ultimately, friendship thrives on mutual vulnerability, patience, and the willingness to be present and compassionate, making both lives richer and more connected.
Smoothie Bar — Banana Cherry Smoothie
Song Rec — Beautiful Things (Live at Coachella)
Quote of the Day
“If you choose bad companions, no one will believe that you are anything but bad yourself.” ― Aesop, Aesop’s Fables