June 24, 2025
United States:
Powell Reiterates No Rush to Cut as Fed Awaits Tariff Clarity
Federal Reserve Chair Jerome Powell will reiterate to lawmakers the central bank is in no rush to lower interest rates as officials wait for more clarity on the economic impact of President Donald Trump’s tariffs.
“The effects of tariffs will depend, among other things, on their ultimate level,” Powell said Tuesday in remarks prepared for delivery to Congress. “For the time being, we are well positioned to wait to learn more about the likely course of the economy before considering any adjustments to our policy stance.”
Europe:
Germany to Sell More Debt to Fund Growth and Defense Plans
Germany will borrow about a fifth more than planned in the coming months to help fund a surge in spending, while a deal to secure a €46 billion ($53 billion) package of tax breaks highlighted how debt needs are set to grow.
The bump in third-quarter issuance and the tax measures are part of efforts by Chancellor Friedrich Merz’s ruling coalition to revive Germany’s stagnating economy and bolster the armed forces.
Asia:
Chinese Port Activity Surges to Record After Trade Truce With US
Chinese ports just had their busiest week on record, likely due to exporters racing to get goods into the US as quickly as possible ahead of tariffs that may be imposed early next month.
Some 6.7 million standard containers were shipped domestically and internationally last week, the Ministry of Transport said on Tuesday.
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