US: OMB's Vought Confident Congress Will Pass Rescissions, Shutdown Risk High
Jul-11 14:15
OMB Director Russ Vought told reporters at the White House a short time ago that he is "confident" t...
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FOREX: FX Exchange trade Roll pace update
Jun-11 14:04
FX Exchange traded Rolls dominates, at least over 75% of the front Month in EURUSD is spread related. Expects these to be all but done on Friday.
- EUR: 55%.
- GBP: 44%.
- JPY: 55%.
- CHF: 42%.
- CAD: 38%.
- AUD: 46%.
- NZD: 38%.
- SEK; 38%.
- NOK: 47%.
US: Bessent To Deliver Testimony To House Ways And Means Ctte Shortly
Jun-11 14:01
US Treasury Secretary Scott Bessent is shortly due to deliver testimony to the House Ways and Means Committee. LIVESTREAM At 16:00 ET 21:00 BST, Bessent will head to the Senate for a second round of testimony to the upper chamber's Appropriations panel.
- Bessent will receive a grilling from Democrats on Trump’s trade policy – particularly the details of the newly minted trade framework with China - as well as the deficit implications of the ‘One Big Beautiful Bill’. Rep. Suzan DelBene (D-WA) said she “wants answers on the administration’s plans for financial data,” per Semafor.
- Bessent yesterday downplayed reports that Trump could tap him as the next chair of the Federal Reserve: “I have the best job in Washington. The president will decide who’s best for the economy and the American people.”
FED: Trump Admin Reiterates Calls For Rate Cuts After CPI
Jun-11 13:58
Unsurprisingly, the Trump administration has taken to social media calling for Fed rate cuts since the CPI data crossed:
- President Trump posted the following on Truth Social: “PI JUST OUT. GREAT NUMBERS! FED SHOULD LOWER ONE FULL POINT. WOULD PAY MUCH LESS INTEREST ON DEBT COMING DUE. SO IMPORTANT!!!”
- Vice President Vance posted the following on X, quoting a post that provided the CPI figures: “The president has been saying this for a while, but it's even more clear: the refusal by the Fed to cut rates is monetary malpractice”
