Apr 4, 2017

Eric Trump: "nepotism is kind of a factor of life"

Andrew Harnik / AP

Forbes sat down with Eric Trump, who called nepotism "kind of a factor of life" and spoke about the Trump siblings' relationship with their father, especially as it applies to their role in the family business.

  • "We might be here because of nepotism, but we're not still here because of nepotism. You know, if we didn't do a good job, if we weren't competent, believe me, we wouldn't be in this spot."
  • "He's a guy, no matter where it is, he expects people to perform. And if they're not performing, he kind of encourages them to go on their way. You know the one thing, Don, Ivanka and I never let him down really in any factor of life. And I think it's one of the reasons that we're as innately close as we are."
  • "I don't know if he could have done the presidential thing four years ago. Certainly eight years ago, he couldn't have. I think we probably would have been too big of question marks for him. I think in so many of the deals that we've done…hopefully we earned our stripes. And I think that's ultimately why we're in the seat we're in."

Go deeper

Scoop: Top NSC official reassigned to Energy Department amid "Anonymous" fallout

Photo: Mark Wilson/Getty Images

Deputy national security adviser Victoria Coates will be reassigned as a senior adviser to Energy Secretary Dan Brouillette, the National Security Council said Thursday — and a senior White House official said that the administration "rejects" the rumors that she is "Anonymous."

Why it matters: Coates has battled claims that she is the still-unknown Trump administration official that penned a New York Times op-ed and book critical of President Trump.

The Fed may be setting the table for 2020 rate cuts

Illustration: Sarah Grillo/Axios

The Fed looks to be laying the groundwork to lower U.S. interest rates this year, just as they did in April 2019 before cutting rates in July, September and October.

Why it matters: A Fed rate cut makes taking on debt more attractive for U.S. consumers and businesses, helping to juice the economy, but also puts the central bank in a weaker position to fight off a potential recession.

Morgan Stanley to buy E*Trade in a $13 billion deal

Photo: Rafael Henrique/SOPA Images/LightRocket via Getty Images

Morgan Stanley is planning to buy E*Trade Financial Corp. in a $13 billion all-stock deal, the Wall Street Journal reports, with plans to acquire the company known for helping everyday Americans manage their money.

Why it matters: The deal, which would be the largest by a major American bank since the financial crisis, signals Morgan Stanley‘s desire to bulk up in wealth management.