US News
LAST UPDATE: July 16, 2025
Bessent Suggests Powell Should Leave Fed Board in May
US Treasury Secretary Scott Bessent said Fed Chair Jerome Powell should exit the Federal Reserve Board when his term ends in May 2026, to avoid confusion around Fed leadership succession.
Insight
The remark signals emphasis on clear institutional transition and preserving central bank credibility.
Inflation Heated Up to 2.7% in June, in Line With Expectations
June’s Consumer Price Index rose 2.7% year-over-year (from 2.4% in May), with a 0.3% monthly increase—marking the largest since January—consistent with economic forecasts.
Insight
The inflation uptick reinforces concerns about tariff-driven price impacts and supports central bank caution on rate cuts.
Fed’s Bowman Urges Banks to Do More to Improve Credit Access
Fed Governor Michelle Bowman stressed that banks and advocates need to accelerate efforts on financial inclusion and innovate further to reach low‑income communities.
Insight
Reflects an increased focus within the Fed on equitable lending and systemic access, not just macro prudential oversight.
Dimon warns on Fed independence as Trump piles pressure on Jay Powell
JPMorgan CEO Jamie Dimon emphasized that the Fed’s independence is “absolutely critical” as Trump attempts to pressure Powell to resign.
Insight
Dimon’s warning highlights that central bank politicization risks harming credibility, inflation management, and market stability.
Large US banks say consumer finances are healthy despite tariffs
Major banks reported that consumer balance sheets held up in Q2 despite tariff volatility. While lower provisions suggested strength, executives warned that inflation and tariff effects could erode spending.
Insight
Consumer resilience offers short-term support, but tariff-driven inflation introduces latent risks to credit trends.
