Commerce Secretary Lutnick Faces Backlash Over Tariffs and Alleged Conflicts of Interest

Bill Ackman retracts criticism of Howard Lutnick as markets reel from tariff-induced volatility and recession fears grow.

Bill Ackman initially accused Commerce Secretary Howard Lutnick of profiting from tariff-induced market downturns due to Cantor Fitzgerald's bond positions but later retracted his statement, calling it unfair.
President Trump’s tariff policies have caused significant market instability, with major indices experiencing steep declines and bond yields dropping sharply.
Economic analysts warn of a heightened risk of recession, with some projecting a U.S. downturn in the second half of 2025 due to escalating trade tensions.
Reports reveal internal frustrations within the Trump administration over Lutnick’s aggressive tariff stance and unorthodox behavior, including emotional interventions in White House meetings.
Lutnick’s complex public image, shaped by his financial background and political pivot from Hillary Clinton supporter to Trump ally, continues to fuel scrutiny of his role in shaping economic policy.