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Ex-baker holds keys to senior government roles but growing prominence worries politicians and business leaders

Dozens of exits from libertarian government include firings by Karina, the president’s chief of staff sibling

The founder and CEO of the South Korean lifestyle brand loves tattoos, vintage cars and caps

Also in this newsletter, Bank of Japan warns of ‘unstable’ markets, AstraZeneca threatens to move manufacturing stateside, Harley-Davidson chief angers anti-diversity activists

Central bank chair tries to quash market expectations of six cuts in 2024 as inflation falls

Federal Reserve chair gives strongest signal yet that borrowing costs will soon fall

Fed chair says US central bank will not hesitate to raise interest rates again if necessary

US central bank ‘will not hesitate’ to raise interest rates again if necessary, chair says

Plus, court hearing begins in Murdoch succession saga and the FT Business Book of the Year shortlist is announced

Sticky inflation means the Federal Reserve less likely to reduce borrowing costs before November election