U.S. Expected to Expand Travel Ban to More Than 30 Countries 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
U.S. Repatriation Flight Carrying 266 Venezuelan Migrants Lands in Caracas 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
U.S.-Russia Talks Leave Ukraine Peace Efforts Uncertain 
Israel Receives Body of Deceased Hostage as Rafah Crossing Reopening Hinges on Final Returns 
Trump’s Name Appears on U.S. Institute of Peace Ahead of Rwanda–Congo Deal Signing 
Australia and Japan Strengthen Defence Cooperation Amid Rising Regional Tensions 
Honduras Election Turmoil Deepens as Nasralla Alleges Fraud in Tight Presidential Race 
Taiwan Signals Openness to Renew Ties with Honduras as Election Unfolds 
Taiwan Opposition Criticizes Plan to Block Chinese App Rednote Over Security Concerns 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
U.S. Justice Department Orders Intensified Probe Into Antifa and Domestic Extremist Groups 
UN General Assembly Demands Russia Return Ukrainian Children Amid Ongoing Conflict 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations 
President Donald Trump declared Friday that he won’t nominate anyone to lead the Federal Reserve unless they support steep interest rate cuts. “I’m going to put somebody that wants to cut rates,” he said, pressing for a drop from the current 4.25%-4.50% to 1%.
While past presidents have criticized Fed policy, Trump’s insistence on loyalty to his monetary stance marks a new level of political pressure on the central bank. He again lashed out at current Fed Chair Jerome Powell, calling him “stupid” and urging his resignation, claiming he’s done a “lousy job.”
Trump returned to the White House in January and has since demanded aggressive rate cuts to stimulate the economy. However, the Fed has remained cautious, citing risks of renewed inflation from Trump’s tariff policies. Policymakers have only projected a modest 0.50% cut later this year—far less than Trump wants.
Trump is reportedly vetting three to four potential replacements for Powell, whose chair term ends in May 2026. A nomination could come as early as October or November, raising concerns about a “shadow chair” undermining Powell’s authority. However, Treasury Secretary Scott Bessent, seen as a top contender, dismissed the idea, saying “I don’t think anyone’s necessarily talking about that.”
While Powell’s chairmanship ends in 2026, his board seat lasts until 2028. The next Fed vacancy opens in early 2026 when Governor Adriana Kugler’s term ends, possibly giving Trump his first chance at reshaping the board.
Other names floated include economic adviser Kevin Hassett, former Governor Kevin Warsh, and current Governor Christopher Waller—who recently signaled support for potential rate cuts in the Fed’s upcoming July meeting. The Fed’s independence, however, remains under close watch as political tensions rise.
