US News
LAST UPDATE: July 9, 2025
Trump Says Powell Should ‘Resign Immediately’ If Congress Misled
Trump urged Fed Chair Jerome Powell to resign if found to have misled Congress about a costly renovation of the Federal Reserve headquarters. The call comes amid Trump’s ongoing criticism of Powell’s rate policy.
Insight
Trump’s intensifying attack reflects his frustration with the Fed’s hawkish stance, aiming to influence leadership ahead of the 2026 succession. It highlights the politicization of monetary policy.
US Small‑Business Optimism Fell Slightly Before Trump Tax Bill
Small-business sentiment edged down in June, according to the NFIB, as owners cited tax concerns ahead of a major tax bill. The optimism index fell 0.2 points to 98.6, with taxes the top concern for nearly 20% of respondents.
Insight
While the drop is modest, it suggests small firms remain cautious amid policy changes. The upcoming tax legislation could temporarily ease worries or further shift the business climate.
US consumers happier about finances, expect stable inflation, New York Fed says
In June, U.S. households reported improved financial well-being and better credit access. The one-year ahead inflation expectation fell to 3% from 3.2%, while three- and five-year outlooks remained around 3% and 2.6% (reuters.com).
Insight
The dip in inflation expectations, alongside stronger consumer sentiment, is welcome news for the Fed—suggesting that recent tariff moves have not sparked sustained inflationary worries .
US Immigration Curbs to Hit Economy Hard in 2025, Fed Study Says
A recent Federal Reserve study projects that new U.S. immigration restrictions could lower economic growth and reduce GDP by mid-2025, emphasizing negative effects on labor markets.
Insight
The finding underscores the economic cost of tighter immigration—especially in sectors like agriculture and hospitality—highlighting a trade-off between national security and economic vitality.
US Treasury cash balance to hit $500 billion by end‑July after debt ceiling rise
Following the recent debt ceiling agreement, the U.S. Treasury’s cash balance is expected to reach approximately $500 billion by late July, providing greater fiscal flexibility.
Insight
This strong cash position offers breathing room for the Treasury ahead of upcoming obligations. Still, it raises questions about government borrowing dynamics and potential interest rate implications.
Trump says he’s weighing federal takeover of Washington, DC
President Trump stated he is considering a federal takeover of Washington, D.C., as part of efforts to combat crime. No formal plan or legal basis was specified .
Insight
The proposal is provocative and largely symbolic—it would require Congressional authorization. It signals Trump’s ongoing effort to shape narrative around law enforcement and governance.
