US News
LAST UPDATE: July 18, 2025
Trump Urges Supreme Court to Reject Challenge to His Tariffs
Trump asked the U.S. Supreme Court to dismiss lawsuits against his 25–30% tariffs, asserting this falls under his constitutional authority.
Insight
A key move to strengthen executive power over trade policy, which may limit future legal challenges to presidential tariff actions.
US House poised to send stablecoin bill to Trump after ‘crypto week’ drama
The House passed the GENIUS Act on July 17, 2025, establishing a regulatory framework for USD-backed stablecoins under CFTC oversight. It now goes to President Trump, who is expected to sign.
Insight
This marks a pivotal moment, offering regulatory certainty for stablecoins and reinforcing U.S. monetary leadership in digital finance.
Wall Street Signals Stablecoin Fightback as Crypto Bills Advance
Major banks like Citi, JPMorgan, and BofA are developing bank-issued stablecoins (“deposit tokens”) to respond to crypto regulation and competition.
Insight
Wall Street’s strategic pivot reflects an intent to maintain influence in payments infrastructure amid evolving crypto policy.
Fed’s Daly says ‘reasonable’ to expect two rate cuts before end of 2025
SF Fed President Daly noted that with inflation easing and a strong labor market, expecting two rate cuts by year-end is reasonable.
Insight
Her stance suggests a shift toward dovish policy at the Fed, balancing growth, inflation, and tariff pressures.
Fed’s Kugler Says Tariff-Driven Inflation Should Leave the Fed on Pause
Federal Reserve Governor Adriana Kugler stated that the current inflation driven by U.S. trade tariffs is likely to persist in the short term. She recommended that the Fed maintain its current policy stance and delay any interest rate cuts, emphasizing that tariff-related inflation should be treated cautiously and separately from demand-driven inflation.
Insight
Kugler’s comments reinforce a cautious approach at the Fed. By distinguishing temporary supply-side inflation from long-term core trends, the Fed can avoid premature easing that could undermine inflation control credibility.
US Consumers Get Early Taste of Tariff Price Hikes as Inflation Set to Rise
Price increases have emerged in June on tariff-impacted goods such as apparel (+0.4%) and luxury items (+12% for some handbags), signaling the initial impact of the new trade tariffs. Year-on-year inflation reached 2.7%, and additional increases are expected as the full set of tariffs take effect.
Insight
The early onset of price hikes in consumer goods reveals how trade policy is quickly affecting household expenses. This pressure could dampen consumer spending and complicate the Fed’s decision-making on rate cuts.
US retail sales beat expectations; labor market stable
June retail sales rose 0.6%, outperforming estimates; jobless claims fell, indicating robust consumer demand despite trade uncertainties.
Insight
Strong consumer spending and jobs support allow the Fed flexibility, though inflation from tariffs remains a concern.
Trump to visit Scotland in July, White House says
President Trump will visit Scotland this month for a private golf trip to Turnberry and Loch Lomond resorts.
Insight
The visit cements his global business branding post-presidency, reinforcing his international personal profile.
Does Trump Have the Authority to Fire Fed Chair Powell?
The article examines whether President Trump can legally dismiss Fed Chair Jerome Powell. It outlines that while Trump has challenged Powell over interest rates and renovation costs, prevailing law (most interpretations of the Federal Reserve Act, reinforced by Humphrey’s Executor v. United States) limits presidential removal authority to “for cause”—such as malfeasance or neglect—not policy disagreements.
Insight
The piece highlights a pivotal constitutional tension: executive ambition versus central bank independence. Unless a high standard of misconduct is demonstrated, removing a Fed Chair for policy reasons would set a dangerous precedent, eroding institutional autonomy.