US News
LAST UPDATE: June 12, 2025
Trump says willing to extend trade talks deadline, but says that won’t be necessary
President Trump expressed openness to extending trade negotiation deadlines with China, but indicated it may not be needed if both sides make progress soon.
Insight
Trump’s flexible stance signals strategic patience, using the deadline as leverage while maintaining market confidence that an agreement remains achievable.
Trump’s Fed Chair Pick Could Come Soon. Who the Contenders Are.
Reports suggest President Trump is close to selecting his nominee for Federal Reserve Chair, with names like John Taylor, Lael Brainard, and Marvin Goodfriend under consideration—signaling a shift toward inflation-focused policy.
Insight
The selection will be pivotal; a hawkish appointment may strengthen the dollar and curb inflation, while a dovish Fed could boost markets; this underscores the administration’s economic priorities.
Cruz Pitches $1.1 Trillion Cut to Fed Bank Payments for Trump Tax Bill
Senator Ted Cruz proposed cutting $1.1 trillion in interest payments from Federal Reserve banks as a financing measure within Trump’s big tax bill, redirecting profits into debt reduction.
Insight
Cruz’s proposal illustrates intra-GOP efforts to offset tax relief with unconventional fiscal measures, stirring debate about the role of central bank revenues in federal budgeting.
Republican Senators Consider $30,000 SALT Cap in Trump Tax Bill
Some Republican senators are reviewing proposals to limit State and Local Tax (SALT) deductions to $30,000 as part of Trump’s tax reform, replacing the current $10,000 limit and aiming to broaden support.
Insight
Raising the SALT cap indicates an effort to balance urban and suburban interests, potentially easing opposition in high-tax states while increasing revenue for broader tax cuts.
US Energy Secretary Says Oil Output Drop in 2026 ‘Unlikely’
U.S. Energy Secretary Granholm stated that the likelihood of a significant decline in U.S. oil production by 2026 is low, attributing resilience to private sector investment and technological innovation.
Insight
The confidence reflects belief in energy sector capacity to sustain output, reducing fears of supply-driven price spikes. It also supports the case for continued domestic energy investment.
Fulbright Board Quits, Says Trump Aides Blocked Scholarships
The Fulbright Foreign Scholarship Board collectively resigned, citing obstruction by Trump administration officials who delayed scholarship approvals and cut program funding.
Insight
The resignations highlight growing politicization of U.S. educational diplomacy and risks undermining academic exchange and soft power under shifting administrations.
How ICE’s Immigration Crackdown Could Slow the Labor Market
A new ICE policy ramping up workplace raids and deportations is projected to reduce available labor, particularly in agriculture and service industries, potentially pushing up wages and prices.
Insight
While enforcement may raise worker protections and wages, it could disrupt supply chains and small businesses that rely on immigrant labor—posing trade-offs for policy makers.
Bessent Says $2 Trillion Reasonable for Dollar Stablecoin Market
Treasury Secretary Bessent commented that a $2 trillion valuation for a dollar-pegged stablecoin market is “reasonable” over time, citing its potential to enhance payment efficiency and financial inclusion.
Insight
This recognition signals rising regulatory openness to digital dollars and crypto innovation, positioning stablecoins as viable infrastructure in U.S. payment systems—though regulatory guardrails remain essential.
