Joe Kiani is back: After being ousted from Masimo the billionaire has returned as CEO of Like Minded Labs

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SEE FULL BIOJoe Kiani, CEO of Minded Labs

Minded LabsIn today’s CEO Daily: Diane Brady talks to Joe Kiani, late of Masimo, who has just become the CEO of Minded Labs

The big story: Trump and his tariffs, again

The : Shrugging off the president’s trade plan

Analyst notes from Deutsche Bank on The Fed, Placer

Plus: All the news and watercooler chat from Fortune

Joe Kiani was crushed last September when holder activist Quentin Koffey of Politan Capital succeeded in his two-year battle to push Kiani off the board of Masimo, a med- company that he founded and built over 36 years

Kiani will this morning be named CEO of Minded Labs, a small company that develops innovative nologies for the entertainment industry, among other things

Kiani co-founded it after buying another company based in Quebec company that created the core nology that he says will now be the foundation for some major duct launches

Why step back into the spotlight after such a bruising public battle. “I spent a few months thinking that,” he told me yesterday. “I just want to build ducts

I have these ideas in my head of how I see the world

I don’t need the money or the credit

I’m just wired to do this … and it entails advanced signal cessing, which I know. ” (Masimo’s core duct is a pulse oximeter that Kiani invented. ) Kiani does have some advantages this time around

One is Bob Chapek, the former Disney CEO who supported him as a board member of Masimo and is joining the new board

He also has resources, a track record, and majority ownership, noting “I’m not going to make the same mistake twice. ” Any lessons to from the Masimo battle. “Give it your best

I’ve never seen an activist come in and do a good thing for the company,” he said

ComTop newsTrump announces new tariffsOn Monday, President Donald Trump announced a new round of tariffs—40% for Myanmar and Laos, 30% for South Africa, 25% for Kazakhstan, Malaysia, Japan, and South Korea, among 14 countries in all—to go into effect on August 1

Stock market tumbled as a result

The aren’t taking this seriouslyGlobal were up this morning, indicating that Trump’s letters are not being taken as seriously as his April 2 Liberation Day announcement

The August 1 deadline (pushed back again), the fact that each letter was a form copy, and that they end with the line “these tariffs may be modified upward or downward, depending on our relationship with your country,” all suggest that this tariff negotiation cess is far from over. “It seems a wasted effort to analyze every Trump social media post when investors understandably anticipate future retreats,” UBS analyst Paul Donovan told clients in a note this morning

Quote of the day:“If you go through the details, I don’t even know if anybody understands the difference between what was announced today, what was there previously, and if it will actually be implemented, and which companies it actually impacts,” Trivariate Re CEO Adam Parker said on CNBC

Trump resumes arms shipments to Ukraine: "Putin was a jerk"The president also wants to press Germany to send more defensive weapons

The move indicates that relationships between Trump, Putin and Zelensky have changed radically, with Kyiv on the rise and Moscow in the doghouse. “They [Ukrainians] should feel better than they have at any point during the Trump presidency," a source familiar with White House discussions told Axios. “Putin was a jerk. ”Elon Musk faces uphill battle to create “America Party”The world’s richest man faces many legal hurdles to get his posed new third party on the ballot

He’ll have to collect thousands of signatures and corral hundreds of volunteers

He has the money to make that happen, of course

And then there is the history

Given that Musk is seeking revenge against Trump, that may be all he wants

A hypothetical dual-Fed chairmanshipPressure from the Trump Administration to lower interest rates continues to build against Federal Reserve Chairman Jerome Powell

Fortune’s Jason Ma describes how Powell’s role as both the Fed’s board of governors and chair of the Federal Open Market Committee could lead to split chairmanship

From the analystsDeutsche Bank on The Fed: “Peter Navarro wrote in a Substack post that Chair Powell’s policy was causing American households ‘acute financial pain’ and that if Powell ‘will not voluntarily adjust course, the board must act decisively to prevent further economic harm. ’ We’ll get the June FOMC meeting minutes release tomorrow, so that should offer more details on how officials are thinking rate cuts

At face value, the tariff letters, and the fact that the deadlines seem to be pushing towards August 1st, thus longing uncertainty, means a September Fed cut will become more difficult unless there is strong evidence of a deteriorating economy,” per Jim Reid and team

By June, many of those purchases had ly already been made, and the resulting downturn in mall visits might represent a natural normalization of traffic rather than a new weakness in consumer demand,” per Shira Petrack

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