Warsh Speaks from Wyoming as Old Navy Gets New CEO Amid Market Volatility
President Donald Trump sparked controversy on Thursday by signing an executive order to rename Lake Ontario 'Lake America', mirroring last year's failed attempt to rename the Gulf of Mexico 'Gulf of America'.
The move comes as Federal Reserve Chairman Kevin Warsh is set to deliver a keynote speech at the central bank's annual symposium in Jackson Hole, Wyoming. While his predecessors have used the event to discuss broad policy goals, economists are unsure whether Warsh will follow suit.
A CNBC survey found that respondents were split on whether Warsh should provide insight into his economic views or discuss the rate outlook.
Meanwhile, Old Navy is getting a new chief executive. Parent company Gap Inc. announced that Michael Francis, currently customer chief, will take over in November for Haio Barbeito, who has been at Old Navy's helm since 2022.