Treasury Secretary Scott Bessent expects a substantial drop in inflation during the first six months of 2026, according to statements made Tuesday on Fox Business. Bessent indicated that an announcement regarding President Trump's Federal Reserve chair selection would likely come in early January, with "one or two more Fed interviews" possibly taking place this week. When discussing potential candidates, Bessent noted that both Kevin Warsh and Kevin Hassett are "very very qualified" for the position. He rejected suggestions that Hassett would lack agency at the Federal Reserve, while...
The U.S. Senate is expected to hold a test vote on a spending bill on Sunday evening to end the longest ever U.S. government shutdown, with ABC News reporting that enough Democrats now supported the measure. ABC reported that there will be enough Democratic votes to pass a measure approving funding for the government until January 31, citing a senior Democratic senator. The bill is unlikely to include any extension of the Obamacare subsidies that the Democrats have been holding out for, ABC reported. The ABC report came just before the Senate kicked off a rare late-Sunday session at 6:00...
China has begun designing a new rare earth licensing regime that could speed up shipments, but it is unlikely to amount to a complete rollback of restrictions as hoped by Washington, industry insiders said. The Ministry of Commerce told some rare earth exporters they will be able to apply for new streamlined permits in the future and in industry briefings outlined the documents that will be required, two sources familiar with the matter said. The export curbs have become Beijing's most potent source of leverage in its trade rivalry with Washington, as China produces over 90% of the world's...
The Trump administration suspended docking fees for Chinese-built ships as part of a "trade truce" last month. The move has drawn criticism for weakening U.S. efforts to protect port access—so-called privileges—and increasing supply chain vulnerabilities. U.S. dependence on the Chinese fleet is now massive. Last year, more than $5 trillion worth of goods flowed through U.S. ports, including $3 trillion in imports, and nearly a third of that was carried by ships built, owned, or operated by China. The U.S. shipbuilding industry itself has declined sharply: from 77 commercial vessels built in...
The Bank of England's MPC voted 5-4 to keep Bank Rate at 4% at its November 5 meeting, in line with expectations. Four members favored a 25 bps cut to 3.75%, reflecting growing support for easing. Policymakers noted that CPI inflation has peaked and underlying disinflation is developing, aided by still-restrictive policy, lower wage growth, and easing services inflation. A sluggish economy and increasing labor market slack are also strengthening disinflation. The MPC said the risks to achieving the 2% target are now more balanced: inflation persistence has become less of a concern, while...
The U.S. Supreme Court's tough questioning of President Donald Trump's global tariffs has fueled growing speculation that they will be overturned, but it also raises the potential for further turmoil as he is expected to shift to other trade tactics after an adverse ruling. On Wednesday, during oral arguments, the Supreme Court justices cast doubt on Trump's authority to impose tariffs under the 1977 International Emergency Economic Powers Act (IEEPA), which contains no reference to tariffs—only language about regulating imports during a national emergency declared by the U.S....
Asian stock markets fell in unison on Thursday, following Wall Street's decline. A brief rally in tech stocks led by Nvidia quickly faded, prompting investors to turn away from riskier assets like...
Pasangan mata uang EUR/USD mengawali pekan ini dengan nada sedikit melemah di sesi Asia, diperdagangkan di sekitar 1,1730, turun kurang dari 0,10% dalam sehari. Meski terkoreksi, euro masih berada...
US President Donald Trump said Washington is willing to provide security assistance to Ukraine as part of a deal to end the war with Russia. He emphasized that security support is a crucial factor...