July 10, 2025
United States:
Pence Says Trump Has Right to Share Views on Powell, Fed Policy
Former Vice President Mike Pence said Donald Trump had the right to publicly share his views about Federal Reserve Chair Jerome Powell and decision-making on interest rates — and that he had his own concerns about the central bank’s policies.
“I think the President of the United States is fully entitled to express his opinion about both the Fed chair and about the Federal Reserve itself,” Pence said in an interview Thursday on Bloomberg Television.
Europe:
ECB Doesn’t Need to Cut Rates Any Further, Holzmann Tells MNI
The European Central Bank doesn’t need to continue easing policy as borrowing costs may already be providing stimulus to the economy, according to Governing Council member Robert Holzmann.
“There is no reason at the moment why a further cut should take place — definitely not at the next meeting, and also for the rest of the year,” the Austrian central-bank chief was cited as saying in an interview with Market News. He added that under his assessment, the current level of borrowing costs “puts us at least at neutral, but quite likely in expansionary territory.”
Asia:
Xi Signals China May Finally Move to End Deflationary Price Wars
After years of mounting concern over deflation and the bruising price wars that have plagued much of China’s economy, President Xi Jinping’s government is showing signs of finally taking action.
Beijing’s messaging has noticeably shifted in recent weeks, with Xi and other top officials offering their bluntest assessment yet of the cutthroat competition that’s been dragging down prices and profits across industries, from steel and solar panels to electric vehicles. This pivot comes after nearly three years of factory-gate deflation and growing pressure from US tariffs and trade tensions.
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