U.S. Economic and Trade Developments Amid Fed Silence Period

According to PANews, as the Federal Reserve approaches its silence period, current board member and leading candidate for the next Fed chair, Waller, has reiterated his support for a 25 basis point rate cut in July. Data indicates an improvement in consumer inflation expectations. Meanwhile, trade tensions between the United States and the European Union persist, with U.S. President Donald Trump advocating for a minimum tariff of 15%-20% on all EU goods and planning to announce tariffs targeting specific industries by August 1. The eventful 'Cryptocurrency Week' concluded with Trump signing the stablecoin bill, marking a significant milestone. Bitcoin reached a new historical high of over $123,000 this week, while Ethereum briefly surpassed $3,600 on Friday, outperforming Bitcoin for the fourth consecutive week. Key market events to watch in the upcoming week include: - Monday at 22:00 UTC+8: U.S. June Conference Board Leading Indicators monthly rate. - Tuesday at 20:30 UTC+8: Fed Chair Powell delivers a welcome address at a regulatory conference. - Wednesday at 1:00 UTC+8: Fed Governor Bowman hosts a fireside chat at the Fed's large bank capital framework meeting. - Wednesday, time TBD: President Trump speaks at an event titled 'Winning the AI Race.' - Thursday at 20:30 UTC+8: U.S. initial jobless claims for the week ending July 19. For the United States, price and employment sub-indicators may attract additional attention. Analysts at ABN Amro suggest that the recent moderate inflation trend does little to reduce the uncertainty surrounding the impact of Trump's trade policies on inflation, given the unresolved nature of the U.S. tariff system.