Dollar Weakens, Stocks Climb on Trump-Powell Saga: Markets Wrap
Trump said he is ' not planning on doing anything' to remove Powell, after a White House official said the president was likely to seek the Fed Chair's ouster soon. The initial speculation sent the dollar, US stocks and Treasury yields downward before Trump's clarification soothed market fears.
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Ex-Fed Governor Warsh says new accord between Treasury, central bank needed
(Reuters) -Former Federal Reserve Governor Kevin Warsh, seen as a potential successor to Fed Chair Jerome Powell, said on Thursday there needs to be a new accord between the Treasury Department and U.S. central bank, referencing a 1951 pact that separated federal debt management from monetary policy. Warsh, now a fellow at Stanford University's Hoover Institution, said on CNBC that such an agreement between the two agencies could smooth the process of reducing the Fed's balance sheet by communicating intentions jointly. "If we have a new accord, and ... the Fed chair and the Treasury secretary can describe to the markets plainly and with deliberation this is our objective for the size of the Fed's balance sheet, the Treasury can say this is our issuing calendar, and by the end of, let's say, this administration we'll be at an equilibrium rate on the balance sheet, so that markets will know what is coming," he said. The original accord, struck in March 1951, ended a period when the Fed had committed to a policy of low interest rates at Treasury's request to allow for lower-cost federal borrowing to finance the war effort during World War Two. It is seen by Fed historians as a critical moment that established its practical independence from presidential administrations and laid the ground for how monetary policy would be set in the future. Warsh made his remarks at a time when President Donald Trump is demanding the Fed cut rates, in part to lower the federal government's debt service costs, which topped $1 trillion last year for the first time. Trump has said he will not pick a candidate to succeed Powell who is not on board with the president's desire for rate cuts. The Fed last cut rates in December, before Trump's return to the White House in January. Warsh, who served as a Fed governor from 2006 to 2011, said his idea would not represent a return to the pre-1951 way of operating. "That would not be working in conjunction with the administration," he said. "It would be working with Treasury on goals that the Fed thinks are important to try and pursue and how would you present that to markets, as such, will be in conjunction."
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Trump judicial nominee Bove clears Senate panel despite Democratic protest
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Call for Entries: Globee® Awards for Leadership to Recognize Achievements by Individuals and Teams
Recognizing Leadership at Every Level: 13th Annual Globee® Awards for Leadership Invites Entries from All Over the World SAN FRANCISCO, July 17, 2025 /PRNewswire/ -- The Globee® Awards, organizers of premier data-driven business awards programs with worldwide acceptance and industry-wide participation, have announced the Call for Entries for the 13th Annual Globee® Awards for Leadership, a global program dedicated to recognizing exceptional leadership achievements by individuals and teams. This program celebrates leaders at every level—those who inspire innovation, drive organizational success, and make a meaningful impact in their industries and communities. Organizations, leaders, and teams worldwide are invited to submit their accomplishments—whether local, regional, or global—for consideration. Learn more and submit your entries now: Winners are determined through a 100% merit-based process, with evaluations conducted by independent industry experts and peers from around the world. All judging scores are transparently shared with both winners and non-winners to ensure fairness and credibility. About the Globee® Awards The Globee® Awards present recognition across ten annual programs and competitions, celebrating achievements in business, innovation, technology, leadership, cybersecurity, artificial intelligence, and more. With global participation and evaluations from industry experts worldwide, the Globee® Awards have become a widely accepted standard for honoring excellence and impact across all sectors and organization sizes. To learn more about the Globee® Awards, please visit: Follow: @globeeawards | Hashtags: #globeeawards #leadershipawards #leadershipachievement #businessrecognition All trademarks belong to their respective owners. View original content to download multimedia: SOURCE Globee Awards
