Trump discussed firing Fed boss but 'highly unlikely' he will

This piece dives into the tense dynamic between former President Trump and Federal Reserve Chair Jerome Powell, suggesting that Trump’s unpredictability could lead him to replace Powell precisely because markets assume he won’t. It’s a classic Trumpian twist—defying expectations for the sake of defiance, with high stakes for economic stability.

Editor’s Note: If you’ve followed Trump’s penchant for upending norms, this isn’t just inside baseball. A sudden move against Powell could rattle markets, affecting everything from your 401(k) to mortgage rates. It’s a reminder that political drama isn’t just noise—it has real-world consequences.

Convenience store giant Couche-Tard has abruptly walked away from its massive $47 billion offer to buy Japan’s Seven & i, the parent company of 7-Eleven. The deal collapsed after resistance from Seven & i’s board, which reportedly favored focusing on internal restructuring over a sale.

A group of ten Republican senators is calling on former President Donald Trump to overturn a freeze on federal funding for schools, arguing it harms education access. The move highlights growing GOP concerns over the policy's impact, even as Trump's influence within the party remains strong.

Editor’s Note: This isn’t just another partisan spat—it’s a sign that some Republicans are pushing back against policies they see as damaging to schools, even if it means challenging Trump. With education funding directly affecting students and teachers, the debate could escalate into a bigger fight over priorities within the GOP.

Asian currencies took a hit as concerns grew over the U.S. Federal Reserve's ability to stay independent from political pressure, spooking investors. The Australian dollar took an especially sharp dive after disappointing jobs data suggested the country's labor market might be cooling off.

Editor’s Note: When traders get nervous about the Fed's independence, it often shakes up global markets—especially in Asia, where many economies are sensitive to U.S. monetary policy. Add in Australia's weak jobs report, and you've got a recipe for a rough day in forex trading. This matters because currency swings can ripple out, affecting everything from import prices to corporate earnings across the region.

Chinese steel firms are getting creative to dodge hefty tariffs—this time by shipping steel billets (semi-finished products) instead of finished steel. Buyers in tariff-heavy markets like the EU and US can then process these billets locally, sidestepping import duties. It’s a clever loophole, but one that could spark fresh trade tensions if regulators catch on.

Editor’s Note: Tariffs are like a game of whack-a-mole—close one gap, and another pops up. This move keeps Chinese steel competitive globally, but it also risks inflaming trade disputes. For industries relying on cheap steel, it’s a short-term win; for policymakers, it’s another headache. Either way, it shows how global trade rules keep getting gamed.