US News
LAST UPDATE: June 23, 2025
Fed’s Daly Says Employment, Inflation Risks Roughly in Balance
San Francisco Fed President Mary Daly stated that employment and inflation risks are “roughly equal,” emphasizing that rate cuts are more likely in the autumn than in July .
Insight
Daly’s comment highlights the Fed’s cautious strategy—waiting for clearer signs on inflation and labor before shifting to easing mode, indicating that timing remains data‑contingent.
Fed may need less forward guidance in uncertain times, Daly says
Daly said the Fed should consider reducing explicit forward guidance to preserve flexibility amid trade tensions and geopolitical volatility .
Insight
Less reliance on fixed forward guidance suggests a strategic shift toward reactive, data-driven policymaking—reflecting the difficulties in forecasting in a turbulent global environment.
Trump’s ‘Big, Beautiful’ Bill Gets Slimmed Down in Senate
The Senate’s version of former President Trump’s flagship tax-and-spending package underwent major edits: it trims Medicaid support, scales back clean energy credits, and keeps the SALT deduction at $10 k. The revised bill retains permanent business tax breaks, expands the child tax credit to $2,200, and raises the estate tax exemption to $15 million (investopedia.com, wsj.com).
Insight
The narrowed provisions reflect Senate Republicans balancing tax relief goals with budget concerns, revealing intra-party tension—especially on Medicaid and environmental incentives. The changes highlight the challenge of reconciling House-Senate versions under tight deadlines.
