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GOOD MORNING, CFO
Sunday, August 31, 2025
The Fed’s independence is hanging by a thread, CEOs are stepping into the fight, AI keeps flopping on ROI, and the dollar just capped a rough month.
In this issue:
Fed under siege
AI budgets on the chopping block
Dollar slides into August close
HEADLINES & DEADLINES
Fed fight deepens
Fed Governor Lisa Cook is suing President Trump to block her removal, arguing the move violates the Federal Reserve Act. The case could climb to the Supreme Court and set precedent for presidential power over the central bank.
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CEOs join the fray
Jamie Dimon, Jane Fraser, and David Solomon are leading a chorus of executives defending Fed independence. Public CEO pushback of this kind is rare and underscores how destabilizing the situation has become for capital markets.
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Dollar limps into month-end
The U.S. dollar ended August with a 2 percent monthly drop as traders priced in an 86 percent chance of a September rate cut. Markets fear political pressure will accelerate policy loosening.
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TECHNOLOGY
AI’s value gap widens
MIT’s latest research found 95 percent of enterprise AI pilots fail to show measurable ROI, despite billions invested. Analysts say the failures come from weak integration rather than bad algorithms. Where AI does deliver is in focused areas like back-office automation and supply chain optimization. For CFOs, the lesson is clear: cut the vanity projects and fund narrow use cases that can prove impact fast.
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FAST FACTS
2 percent: August decline in the dollar index
86 percent: Odds of a Fed rate cut in September, per futures markets
95 percent: AI pilots that flop without measurable returns (MIT)
3: CEOs (Dimon, Fraser, Solomon) now publicly defending Fed independence
MORNING HACKS
Draft a Fed stress memo: outline how different Fed scenarios (independent vs politicized) would affect rates and borrowing costs in Q4.
Run an AI ROI filter: every project should be tied to a direct cost reduction or revenue gain within 12 months. If not, it is noise.
Hedge currency exposure: the dollar’s weakness may favor exporters, but import-heavy firms should recheck FX risk positions before September.
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