The yen inched up against other major currencies after new data hinted that Japan's inflation might be heating up again. This could give the Bank of Japan more reasons to consider raising interest rates—a move that often boosts a currency's value.

Japanese government bonds (JGBs) dipped slightly in early trading as investors reacted to fresh signals that inflation in Japan might be picking up speed.

The Supreme Court just ruled that the Federal Reserve is a uniquely independent institution, effectively shutting down any possibility that a sitting president—like Trump—could fire its chair (in this case, Jerome Powell) on a whim. The decision reinforces the Fed’s insulation from political pressure, a big deal for economic stability.

Editor’s Note: This isn’t just about Trump or Powell—it’s about keeping the Fed’s decisions (like interest rates) free from political meddling. If presidents could fire Fed chairs they disagreed with, it’d throw markets into chaos and undermine trust in the system. So while the ruling might feel technical, it’s quietly huge for how the economy functions.

The Supreme Court just handed President Trump a major win, ruling that he has broad authority to fire leaders of key regulatory agencies—think consumer protection, housing, and banking watchdogs. But there’s one big exception: Jerome Powell, the Federal Reserve Chair, is untouchable for now. The decision tightens Trump’s grip on executive power but leaves the Fed’s independence intact, at least for the time being.

Editor’s Note: This ruling is a big deal because it reshapes the balance of power between the White House and federal agencies. Trump can now oust officials he disagrees with more easily, which could lead to faster policy shifts—good or bad, depending on who you ask. But the Fed’s special protection means monetary policy stays insulated from political whims, which markets and economists tend to like. It’s a split decision with long-term implications for how much control future presidents will have over regulators.

The US Supreme Court just handed down a decision that clarifies the Federal Reserve's unique status as an independent agency, effectively shielding Fed Chair Jerome Powell from being fired by a sitting president—like Donald Trump—over policy disagreements. This ruling eases concerns about political interference in monetary policy.

Editor’s Note: The Fed’s independence is a big deal—it’s what lets them make tough calls on interest rates without bending to political pressure. This decision reinforces that stability, which markets and economists tend to like. But it’s also a reminder of how much power rests with unelected officials, something that’ll keep fueling debates about who should control the economy’s levers.