Overview

• Powell reiterated that interest-rate decisions will rely on economic data and central bank surveys rather than political pressure.
• Recent surveys by the Atlanta and Richmond Fed, Duke University and Dun & Bradstreet showed executives plan to raise prices in response to tariff-driven supply chain strains.
• Trump postponed tariff increases until August 1 and signaled he will nominate a rate-cut advocate to replace Powell.
• The U.S. Supreme Court confirmed the president cannot remove a Fed chair without cause, reinforcing leadership tenure protections.
• Presidential appointments will fill only two of the 12 voting seats on the FOMC over the next four years, limiting direct White House influence.