US-RUSSIA: RIA: Trump-Putin One-To-One Will Be w/Aides
Russia's state-run RIA reports that, according to Kremlin spox Dmitry Peskov, the one-to-one meeting between Presidents Vladimir Putin and Donald Trump will take place with the participation of aides. Reports in recent days had suggested that it would only be the two leaders and their interpreters present. This gained significant attention, given the fallout on the US side from the controversial 2018 Trump-Putin summit in Helsinki, Finland.
- Even with the presence of aides, the situation from that previous summit is extremely different. In 2018, Trump was accompanied in Finland by NSA John Bolton, Secretary of State Mike Pompeo and Defense Secretary Jim Mattis, all renowned Russia hawks. This time, the US delegation includes Defense Sec Pete Hegseth, Vice President JD Vance, and Middle East envoy Steve Witkoff, all viewed as far more dovish towards Moscow.
- Peskov claims that the talks 'could last for a minimum of 6-7 hours'. Says the talks "must bear results if there is to be a subsequent three-way meeting [including Ukrainian President Volodymyr Zelenskyy]." Having the bilateral lead to a trilateral is viewed as a key aim for Ukraine and its European allies.
- For more info on the summit see MNI's Politicial Risk team's latest PDF article:
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FED: Bloomberg: Trump Likely To Fire Powell Soon, Says White House Official
BBG reports: *TRUMP LIKELY TO FIRE POWELL SOON, WHITE HOUSE OFFICIAL SAYS" -bbg
- Follows earlier CBS report. BBG: "President Donald Trump is likely to fire Federal Reserve Chair Jerome Powell soon, a White House official said, and discussed the possible move in a meeting with congressional Republicans on Tuesday night."
US: Odds Of Trump Firing Powell Spikes After CBS Highlights White House Meeting
The implied probability of President Donald Trump firing Fed Chair Jerome Powell spiked to 30% in the last few minutes, after CBS highlighted comments made during a closed-door meeting yesterday.
- While Trump has repeatedly applied pressure on Powell, in an apparent effort to force him to resign, there hasn't been an obvious route for removing Powell from office before May 2026. AP notes the Supreme Court signaled Trump doesn’t have the authority to remove Powell over an interest rate disagreement.
- Trump officials recently hinted that they could use an alleged misuse of funds during a renovation project at Fed premises as a justification for dismissal.
- Trump told reporters yesterday Powell is spending $2.5B "to build a little extension onto the Fed.” Trump said when asked if that was a fireable offence: “I think it sort of is,” per CNN.
- Axios notes that OMB Director Vought sent Powell a letter on July 10, giving him seven business days to respond to allegations, potentially giving Trump time to attempt action before the next Fed meeting, on July 29.
- NEC director Kevin Hassett, one of the favourites to replace Powell, told reporters on Sunday that Trump is “looking into” whether the renovations provide authority to fire Powell.
- Deutsche Bank warned Friday that investors are overlooking the risk of Trump removing Powell, per Business Insider, describing it as, "the market's most underestimated risk”.
Figure 1: Will Trump Fire Fed Chair Powell in 2025
Source: Polymarket
FED: US TSY 17W AUCTION: NON-COMP BIDS $552 MLN FROM $65.000 BLN TOTAL
- US TSY 17W AUCTION: NON-COMP BIDS $552 MLN FROM $65.000 BLN TOTAL
