US News
LAST UPDATE: July 23, 2025
Treasuries Slip With Fed’s Powell Set to Speak on Regulation
U.S. 10-year Treasury yields rose, ending a four-day rally, as markets awaited Powell’s remarks at a bank regulation conference amid renewed pressure from the White House. (Bloomberg.com, Bloomberg.com)
Insight
The slight sell-off indicates investor nerviness: while Powell is expected to reinforce Fed independence, markets remain sensitive to political influence over monetary policy.
Trump says Fed’s Powell will be out in 8 months
Trump called Powell a “numbskull” for keeping rates high and claimed he’ll be gone in eight months—despite Powell’s term ending in mid‑May 2026 and no indication of forced removal. (Reuters, ksl.com)
Insight
This verbal attack highlights political pressure potentially undermining central bank independence. Markets may respond cautiously, concerned about politicizing monetary policy.
Fed’s Bowman: Fed independence is very important
Fed Vice Chair for Supervision Michelle Bowman told CNBC that preserving central bank independence in setting policy is “very important” and emphasized transparency, accountability, and inclusivity. (Reuters, Investing.com)
Insight
Bowman’s remarks serve as a counterbalance to political attacks, reinforcing the Fed’s commitment to go-no-go autonomy despite public criticisms.
US, China to discuss tariff deadline extension in Stockholm, Bessent says
Treasury Secretary Bessent announced talks in Stockholm next week to extend the August 12 tariff negotiation deadline, signaling progress and focusing on rebalancing China’s growth. (Reuters, Reuters)
Insight
The diplomatic tone suggests a constructive approach to U.S.–China trade frictions, with Washington aiming to shift China’s economy toward consumption and avoid abrupt tariff escalations.
Banks Ready Fresh Push Against Tighter US Capital Rules
Major banks (JPMorgan, Goldman, Morgan Stanley) are preparing to lobby regulators to soften new capital rules under Basel III Endgame, including stress tests and surcharges. (ブルームバーグ・ロー, Bloomberg.com)
Insight
The industry is proactively challenging tighter regulation, highlighting the ongoing tension between financial stability goals and banks’ profitability ambitions.
Trump tariffs take a $1 billion bite out of GM earnings; shares fall
GM’s Q2 core profit dropped 32% to $3 billion due to a $1.1 billion drag from Trump’s tariffs, causing shares to tumble ~8%, although U.S. sales and earnings beat estimates. (Reuters, Reuters)
Insight
The impact spotlights tangible corporate costs from trade protectionism. Investor pressure may grow for policy clarity as GM expects more headwinds ahead.
