Drones Spotted Near Zelenskiy’s Flight Path in Ireland Trigger Security Alert 
BOJ’s Noguchi Calls for Cautious, Gradual Interest Rate Hikes to Sustain Inflation Goals 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
U.S. Soybean Shipments to China Gain Momentum as Trade Tensions Ease 
Israel Receives Body of Deceased Hostage as Rafah Crossing Reopening Hinges on Final Returns 
RBA Signals Possible Rate Implications as Inflation Proves More Persistent 
California Launches Portal for Reporting Alleged Misconduct by Federal Immigration Agents 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Trump and Lula Discuss Trade, Sanctions, and Security in “Productive” Phone Call 
U.S. Repatriation Flight Carrying 266 Venezuelan Migrants Lands in Caracas 
Senators Warn Trump Against Unauthorized Venezuela Strike, Vow War Powers Push 
RBA Minutes Signal Growing Caution on Future Rate Cuts Amid Persistent Inflation 
U.S. Defense Chief Pete Hegseth Defends Controversial Second Strike on Suspected Drug-Smuggling Vessel 
Putin Concludes High-Level Talks With Trump Envoy on Ending Ukraine Conflict 
Japan’s Inflation Edges Higher in October as BOJ Faces Growing Pressure to Hike Rates 
U.S. President Donald Trump once again urged the Federal Reserve to slash interest rates sharply, while intensifying his criticism of Fed Chair Jerome Powell. Speaking after the release of second-quarter GDP data, Trump praised the economy’s performance but argued that monetary policy remains too tight.
On Truth Social, Trump wrote, “If it weren’t for Jerome ‘Too Late’ Powell, we would be at 2% right now, and in the process of balancing our budget. The good news is that we’re powering through his incompetence.” His remarks came just a week after the Fed lowered its benchmark rate by 25 basis points to a range of 4% to 4.25%, a move Powell described as cautious in light of persistent inflation and a cooling labor market.
The U.S. economy showed resilience in the second quarter, supported by strong GDP growth. However, analysts warn that lingering effects from Trump’s trade tariffs and labor market weakness could weigh more heavily on third-quarter performance. Powell has emphasized that there is no “risk-free path” for monetary policy, underscoring the Fed’s measured approach.
Trump has consistently demanded steeper cuts, arguing that delaying aggressive action could trigger broader economic risks. His nominee for the Fed board, Stephan Miran, echoed these calls during last week’s meeting, supporting immediate and deeper reductions in borrowing costs.
Despite Trump’s pressure, most Fed officials have pushed back against rapid easing, citing concerns over inflation stability and long-term growth risks. Still, financial markets appear to expect further cuts this year. According to CME FedWatch, traders are pricing in a 93% chance of another 25-basis-point cut in October and nearly a 60% chance of an additional cut in December.
The clash highlights an ongoing debate between political pressure for stimulus and the Fed’s cautious stance in managing inflation and economic stability, leaving investors closely watching the central bank’s next moves.
