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The ERISA Industry Committee, along with two other industry groups, is seeking the dismissal of the drugmaker’s PRT class-action lawsuit over the transfer of its pension plan to Athene Annuity, alleging a breach of fiduciary duties.

“We’re going to protect our people and our businesses, and we’re going to protect our country, with tariffs.”

“The committee is very much in the mode of waiting to see what policies are enacted,” according to Chairman Powell.

A gauge of sentiment about current economic conditions dropped nearly 10 points, while a measure of expectations for the next six months declined to a lesser extent.

The banking giant has been hit with a class-action lawsuit alleging it used retirement plan contributions from departing employees to “offset its employer contributions” rather than reducing plan administrative fees, violating ERISA.

The president has begun a pressure campaign on the Fed to lower interest rates faster, despite ongoing inflation concerns.