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Vietnamese officials acknowledged progress in the long-awaited trade agreement between the two sides but clarified that the terms are still under government review.
During an interview with Fox Business on Thursday, Bessent indirectly said the Trump administration has prepared a list of potential successors to Powell.
The former U.S. president highlighted the efforts by his administration to strengthen the North Atlantic Treaty Organization, a military alliance comprising primarily countries from North America and Europe.
The Treasury Secretary also called out the Federal Reserve for having “tariff derangement syndrome”, echoing President Trump’s attacks on Fed Chair Jerome Powell.
President Donald Trump said “trillions of dollars” are now being invested in the U.S., adding that the “Big Beautiful Bill” will be one of the “most successful” pieces of legislation to ever be passed.
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The sharpest job cuts were concentrated in the service sector. Professional and business services saw a decline of 56,000 roles, while education and health services lost 52,000 roles.
With the July 9 deadline for the resumption of temporarily halted tariffs approaching, investors are cautious about their potential impact on domestic growth and inflation.
The focus will likely be on ADP’s private payrolls data for June, which is widely expected to rebound to 100,000 compared to the 37,000 jobs added in May.
Powell said President Trump’s tariff policies threw a wrench in the central bank’s inflation estimates, reiterating his previous stance that the levies were larger than expected.
The fund manager stated that the improvement in the supply-demand balance for U.S. debt will reduce interest rates, and as a consequence, the budgetary deficit, ultimately benefiting the markets and the economy.
The EU is also seeking relief from existing U.S. tariffs on autos, steel, and aluminum and has prepared retaliatory measures in case talks collapse ahead of the July 9 deadline.
fter a marathon weekend session, the Republican-controlled Senate passed the tax bill by a slender majority of 51-49 votes, with Trump hailing it as a “great victory.”