With multiple favorable factors, Hassett is in a favorable position in the Fed chairman election
Kevin Hassett, director of the White House National Economic Council, is emerging as a leading candidate to be the next chairman of the Federal Reserve. According to multiple sources, Hassett is standing out as Trump considers appointing a Fed leader whose views align more closely with his own. Whether Hassett will ultimately be nominated is still uncertain. However, sources say that Hassett has advantages that others do not. He is the head of the National Economic Council and previously served as a key economic advisor during Trump's first term. Hassett has been working for Trump for nearly a decade and is one of the few advisors who has both earned the president's trust and maintained a good relationship over the long term. After holding two positions in the first Trump administration, he joined a private equity firm founded by Trump's son-in-law Kushner and provided economic policy advice to Trump during the 2024 presidential campaign. Additionally, Hassett is seen as a disciplined and media-savvy spokesperson, qualities that Trump has long valued in his senior appointees. Evercore IS points out that Hassett's biggest challenge will be to prove to the market that, despite being a loyal supporter of Trump, he can still maintain enough independence while serving as Fed chairman to uphold the Fed's reputation.
Next week's macro outlook: US June CPI, PPI and retail price index
the important macroeconomic data to be released in the United States next week are as follows: Tuesday 20:30, US June CPI data, July New York Fed manufacturing index; Tuesday 21:15, Federal Reserve Director Bauman delivers a welcome address at a meeting hosted by the Federal Reserve; Wednesday 00:45, Federal Reserve Director Barr delivers a speech at a meeting hosted by the Federal Reserve; Wednesday 20:30, US June PPI data; Thursday 20:30, US June retail sales monthly rate, US initial jobless claims for the week ending July 12, July Philadelphia Fed manufacturing index, June import price index monthly rate; Friday 22:00, US July one-year inflation rate expectation initial value, July University of Michigan consumer confidence index initial value.
Senior German politician expects U.S. to delay tariffs
a senior political figure in Germany said on Sunday that after US President Trump threatened to increase tariffs on the European Union, intensifying the trade war, the EU and Washington may further negotiate and postpone the increase in import tariffs. "The poker game of negotiations between the EU and the US is entering a decisive stage," said Juergen Hardt, deputy leader of the conservative Christian Democratic Union/Christian Social Union in the German Bundestag. "I bet that at least some agreement will be reached before August 1 and further postponed. After all, high tariffs must be paid by American citizens and companies, which will lead to rising prices and inflation in the US." Hardt said that Europe must prevent Trump from "mistakenly believing" that the US trade deficit is caused by the EU's protectionist measures. He said that due to the dominance of the IT industry, the US has a surplus in the services sector, which largely offsets the trade deficit.