US: First White House Press Conference Since July 7 Underway Shortly

White House Press Secretary Karoline Leavitt is shortly due to deliver her first White House press conference since July 7. LIVESTREAM

• The presser comes after reports that President Donald Trump is planning to fire Fed Chair Jerome Powell precipitated significant moves in US assets yesterday, which pared back when Trump denied the reports.
• Trump told reporters at the White House yesterday that he would send tariff letters to more than 150 countries, notifying them of a 10%-15% tariff rate. “We’ll have well over 150 countries that we’re just going to send a notice of payment out, and the notice of payment is going to say what the tariff”, Trump said, adding that the recipients were “not big countries, and they don’t do that much business.”
• Trump is also facing the most pronounced rift with his base since entering presidential politics. In a lengthy message on Truth Social yesterday, Trump scolded “past supporters” for buying into a Democrat “hoax” regarding financier Jeffrey Epstein.
• The Epstein schism is part of a broader disconnect with MAGA voters, including a recent warming to Ukraine, prioritisation of trade with China, concerns over the Big Beautiful Bill, and foreign military action abroad.
• The Telegraph reports that Trump has overseen “nearly as many air strikes in the first five months of his second term as Joe Biden launched in his entire presidency,” threatening to undermine Trump’s goal of ending American adventurism abroad.