Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
New Orleans Immigration Crackdown Sparks Fear as Federal Arrests Intensify 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
U.S. Defense Chief Pete Hegseth Defends Controversial Second Strike on Suspected Drug-Smuggling Vessel 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Trump and Lula Discuss Trade, Sanctions, and Security in “Productive” Phone Call 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
Trump’s Name Appears on U.S. Institute of Peace Ahead of Rwanda–Congo Deal Signing 
U.S. Expected to Expand Travel Ban to More Than 30 Countries 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Israel Receives Body of Deceased Hostage as Rafah Crossing Reopening Hinges on Final Returns 
Cuba Reaffirms Anti-Drug Cooperation as Tensions Rise in the Caribbean 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
U.S. President Donald Trump on Tuesday floated Treasury Secretary Scott Bessent as a possible successor to Federal Reserve Chair Jerome Powell, though he noted satisfaction with Bessent’s current role. Speaking at Joint Base Andrews, Trump told reporters, “(Bessent) is an option, and he’s very good. Well, he’s not, because I like the job he’s doing, right?”
Trump’s remark adds to growing speculation around the Fed leadership as reports suggest former Fed Governor Kevin Warsh and economic advisor Kevin Hassett are also under consideration to replace Powell. Tensions between Trump and Powell have persisted, with the President frequently pressuring the Fed to lower interest rates, warning of potential economic fallout if it fails to do so.
Powell has resisted calls for aggressive rate cuts, citing ongoing uncertainty around inflation—particularly due to Trump's trade policies. On Tuesday, Trump reinforced his tariff strategy, saying a proposed 200% duty on pharmaceutical imports is expected by month-end. His broader tariff package targeting major U.S. trade partners is scheduled to begin August 1.
These remarks followed the release of June’s Consumer Price Index (CPI) data, which revealed a rise in inflation. Economists caution that Trump's tariffs, combined with shrinking inventory levels among U.S. businesses, could lead to higher consumer prices, potentially fueling inflation further in the coming months.
As Trump doubles down on protectionist trade measures and weighs leadership changes at the Fed, markets are bracing for policy shifts that could significantly impact inflation, interest rates, and overall economic stability.
