FED’s Lisa Cook Progress
US President Donald Trump said he found potential candidates to replace the FED’s Lisa Cook, right after he intended to switch Mira to another longer-term FED spot after his nomination a few weeks ago. This raises some doubt about whether these potential candidates would be the economic adviser Stephen Miran or the former World Bank Group President David Malpass, according to the WSJ report.
This came after he fired the FED’s Lisa Cook from her position, although she had committed to challenging this case by saying that Trump lacked the authority to fire her.
***US President Donald Trump and US Commerce Secretary Lutnich continued to pressure the FED to lower the interest rate.***
CB Consumer Confidence Report
In accordance with the CB report, although the consumer confidence index overall declined this month, the report also suggested that inflation expectations picked up while addressing concerns over a possible recession. This recession has sparked some uncertainty and overshadowed the inflation problem, resulting in a higher gold price.
Russia-Ukraine:
The conflict goes on and on, with the battlefield becoming a dead field. Although US Envoy Witkoff cited that there will be meetings on Russia, Ukraine, Iran, and Gaza this week that aim to end all the conflict, the recent signs are showing otherwise. Even Zelenskyy also said, “Russia is only giving signals that it is going to continue to avoid real negotiations. This can only be changed by strong sanctions, strong tariffs—real pressure.” This remark came when US President Trump mentioned the secondary sanctions imposed if Moscow’s conflict does not end.
→ Not only Russia and Ukraine will suffer, but even other countries such as India and China will also likely face these consequences.
