Under Armour CEO Stephanie Linnartz Steps Down, Founder Kevin Plank Returns as CEO
Under Armour announces CEO Stephanie Linnartz stepping down after just over a year, with founder Kevin Plank returning as chief executive. Mohamed El-Erian to take over as nonexecutive board chair. Linnartz’s expertise in digital sales and loyalty programs was a key factor in her appointment. Both Plank and Linnartz express optimism for the company’s future, reflecting a strategic shift and commitment to growth and success.
The Fed’s Data Dependency Risks Causing Mistakes
The Federal Reserve’s heavy reliance on economic data has led to potential policy mistakes and increased market volatility. The focus on data has caused the Fed to fall behind in its inflation battle and make repeated forecasting errors. This excessive data dependency risks keeping interest rates too restrictive for too long, leading to output loss, higher unemployment, and financial instability. The analogy of driving a car by looking in the rear-view mirror rather than through the windshield illustrates the potential problems with the Fed’s approach to data dependency.