U.S. Expected to Expand Travel Ban to More Than 30 Countries 
Honduras Election Turmoil Intensifies as Nasralla Blames Trump for Shift in Results 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
Michael Dell Pledges $6.25 Billion to Boost Children’s Investment Accounts Under Trump Initiative 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
UN Chief Says Gaza Operation “Fundamentally Wrong” as Concerns Over War Crimes Grow 
Drones Spotted Near Zelenskiy’s Flight Path in Ireland Trigger Security Alert 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
U.S. Justice Department Orders Intensified Probe Into Antifa and Domestic Extremist Groups 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Trump’s Name Appears on U.S. Institute of Peace Ahead of Rwanda–Congo Deal Signing 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
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.
