Analyst: Fed may not cut interest rates in July and September

July 4th: The Democratic leader, Jeffrey, set a record for the longest speech in the House of Representatives. He spoke for over eight hours in an attempt to delay the passage of the "Beautiful Act" bill. During his speech, Jeffrey read out letters from constituents who might be affected by the cuts to the social security safety net program and criticized Republican lawmakers who were about to support the bill. This speech was the Democrats' final effort to delay the bill's passage. Nevertheless, the bill is still anticipated to pass later on Thursday in order to meet the Republicans' self-imposed July 4th deadline. Most Republicans remained unperturbed by the speech. The House Speaker, Johnson, referred to the speech as "a complete waste of everyone's time." (Jinse Finace)

On July 4th, the U.S. Treasury Secretary Mnuchin stated that it is Trump who will decide whether to extend the negotiations with trading partners beyond the final deadline of July 9th. On Thursday, when asked on a CNBC show whether it was possible to extend the deadline, Mnuchin replied, "We will act in accordance with the President's wishes, and it will be his decision whether they are negotiating in good faith." Mnuchin said that he met with the EU trade representative in the morning of Thursday and mentioned that the U.S. Trade Representative Lighthizer will be "working hard over the weekend" with European officials. When asked about the status of negotiations with Japan, Mnuchin stated that no agreement has been reached with Japan yet, possibly due to the complexities of domestic politics in Japan. Regarding Vietnam, Mnuchin referred to his understanding that an agreement has been "essentially reached," and Trump's announced 20% tariff is a key part of the agreement, which will n

On July 4th, according to AXIOS, Ondo Finance and Pantera Capital have joined forces to initiate "Ondo Catalyst" and plan to invest $250 million in the tokenization of Real World Assets (RWAs). Ondo Catalyst aims to promote the on-chain asset issuance of projects through investments in equity and project tokens.

On July 4th, according to The Block, the Bitcoin mining firm Riot Blockchain (RIOT) mined 450 BTC in June, with a value of $49.26 million. This represented a 76% increase compared to the 255 BTC mined in June 2024. However, it was a 12% decrease from the 514 BTC mined in the previous month. The company currently holds 19,273 BTC and sold Bitcoin worth $41.7 million in June.

July 4th. U.S. Treasury Secretary Yellen declared that there are a great many excellent candidates for the position of Federal Reserve Chairmanship, and the work regarding this will commence in the autumn. Previously, according to a report on June 25th by The Wall Street Journal, U.S. President Trump is contemplating nominating the next Federal Reserve Chairman in an early manner in order to weaken the current Chairman Powell's influence. Powell still has 11 months left in his term as Federal Reserve Chairman. Sources disclosed that Trump is considering choosing and announcing Powell's successor before September or October. "And Trump's resentment towards Powell may lead him to make the announcement earlier this summer." Trump is considering former Federal Reserve Governor Kevin Warsh and the White House National Economic Council Director Kevin Hassett. In addition, sources revealed that some have suggested Treasury Secretary Yellen as a potential candidate; other competitors include

On July 4th, U.S. Treasury Secretary Yellen declared that we are currently at an extremely high level of real interest rates. If the Fed does not reduce rates during this meeting, perhaps the rate cut in September will be more significant. (Xinhua Finance)