On July 12th, "Fed's Whisperer" Nick Timiraos wrote that the Federal Reserve is not expected to cut interest rates at its meeting later this month, but Powell has hinted that a rate cut may be possible later this year if inflation performs well or the labor market weakens. Trump hopes to lower the federal deficit's debt-servicing costs, and his tax cuts could widen the federal deficit. However, outside of extreme circumstances such as war, central banks in developed economies would resist this pressure. They believe that maintaining stable inflation is crucial to preserving people's confidence in the national currency. [BlockBeats News]