*By Amanda Weston*
The battle of the billionaires may be heating up ahead of the 2020 presidential race, as former mayor and media mogul Michael Bloomberg took a swipe at ex-Starbucks CEO Howard Schultz after he announced a potential run for president as an independent during an interview on "60 Minutes" Sunday.
Bloomberg, who is reportedly considering his own White House bid on the Democratic ticket, released [a statement](https://www.mikebloomberg.com/news/mike-bloomberg-statement-independent-run/) on Monday that said in part that "there is no way an independent can win."
"In 2020, the great likelihood is that an independent would just split the anti-Trump vote and end up re-electing the President," Bloomberg said.
The two billionaires are looking in part to capitalize on their corporate success to gain an edge against President Trump, who leveraged his business career to gain the presidency.
"Anything is really possible at this point, and you don't want to ignore a white billionaire announcing a candidacy for president," Julia Manchester, reporter at The Hill, told Cheddar Monday. "We saw it happen in 2015 and \[Trump]\ won."
Bloomberg, who served as mayor of New York City from 2002 to 2013 as a centrist Republican, switched political parties last year in a move thought to foreshadow a 2020 bid for president. Monday's back-and-forth sparked further speculation Bloomberg will enter the race.
"Some would say shows that he's clearly inching toward it ー he's clearly thinking about it," Manchester said. "However, I don't think this statement confirms that."
In his statement, Bloomberg said running as an independent would be too risky.
"That's a risk I refused to run in 2016 and we can't afford to run it now. We must remain united, and we must not allow any candidate to divide or fracture us. The stakes couldn’t be higher."
Bloomberg did not expressly name Schultz.
"You're seeing a lot of Democrats expressing concern that an independent such as Schultz getting in could split that ticket, and that's their biggest concern," Manchester said.
"You already have a huge field as well as two progressives ー potentially Bernie Sanders and Elizabeth Warren, that could very well split the ticket."
A third billionaire, President Trump, also weighed on Schultz's possible run on Monday, [tweeting](https://twitter.com/realDonaldTrump/status/1089881244312178688) that he "doesn’t have the 'guts' to run for President!"
For full interview [click here](https://cheddar.com/videos/there-is-no-way-an-independent-can-win-bloomberg-says-as-schultz-considers-2020-bid).
Federal Reserve Chair Jerome Powell on Tuesday signaled a cautious approach to future interest rate cuts, in sharp contrast with other Fed officials who have called for a more urgent approach. In remarks in Providence, Rhode Island, Powell noted that there are risks to both of the Fed’s goals of seeking maximum employment and stable prices. His approach is in sharp contrast to some members of the Fed’s rate-setting committee who are pushing for faster cuts.
President Donald Trump’s efforts to reshape the American media landscape have led to the suspension of late-night comedian Jimmy Kimmel.
Ben & Jerry’s co-founder Jerry Greenfield is leaving the ice cream brand after 47 years. He says the freedom the company used to have to speak up on social issues has been stifled
The Federal Reserve cut its key interest rate by a quarter-point Wednesday and projected it would do so twice more this year as concern grows at the central bank about the health of the nation’s labor market. The move is the Fed’s first cut since December and lowered its short-term rate to about 4.1%, down from 4.3%. Fed officials, led by Chair Jerome Powell, had kept their rate unchanged this year as they evaluated the impact of tariffs, tighter immigration enforcement, and other Trump administration policies on inflation and the economy. The only dissenter was Stephen Miran, the recent Trump-appointee.
After a late-night vote and last-minute ruling, the Federal Reserve began a key meeting on interest rate policy Tuesday with both a new Trump administration appointee and an official the White House has targeted for removal.
The Trump administration has issued its first warnings to online services that offer unofficial versions of popular drugs like the blockbuster obesity treatment Wegovy.
Albania's Prime Minister Edi Rama says his new Cabinet will include an artificial intelligence “minister” in charge of fighting corruption. The AI, named Diella, will oversee public funding projects and combat corruption in public tenders. Diella was launched earlier this year as a virtual assistant on the government's public service platform. Corruption has been a persistent issue in Albania since 1990. Rama's Socialist Party won a fourth consecutive term in May. It aims to deliver EU membership for Albania in five years, but the opposition Democratic Party remains skeptical.
The Trump administration has asked an appeals court to remove Lisa Cook from the Federal Reserve’s board of governors by Monday, before the central bank’s next vote on interest rates. Trump sought to fire Cook Aug. 25, but a federal judge ruled late Tuesday that the removal was illegal and reinstated her to the Fed’s board.
President Donald Trump's administration is appealing a ruling blocking him from immediately firing Federal Reserve Gov. Lisa Cook as he seeks more control over the traditionally independent board. The notice of appeal was filed Wednesday, hours after U.S. District Judge Jia Cobb handed down the ruling. The White House insists the Republican president had the right to fire Cook over mortgage fraud allegations involving properties in Michigan and Georgia from before she joined the Fed. Cook's lawsuit denies the allegations and says the firing was unlawful. The case could soon reach the Supreme Court, which has allowed Trump to fire members of other independent agencies but suggested that power has limitations at the Fed.
Chief Justice John Roberts has let President Donald Trump remove a member of the Federal Trade Commission, the latest in a string of high-profile firings allowed for now by the Supreme Court.
