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Real-time News
On June 30th, the Wall Street Journal analyzed that although Federal Reserve Governor Cook emerged as a direct winner in the Supreme Court ruling, the biggest beneficiary might be Warsh, who just took office as Federal Reserve Chairman in May. The US Supreme Court ruled to prevent President Trump from removing Cook from office, reaffirming the protections granted to Federal Reserve governors by Congress. This means the president cannot easily remove a Federal Reserve governor on controversial grounds, thus limiting the space for pressuring the Fed through replacements and providing institutional guarantees for Warsh to lead the Fed more independently. The analysis points out that if the president could easily dismiss a Federal Reserve governor and replace him with a like-minded official, the Feds independence would be severely weakened, and Warsh would find it difficult to manage the institution. Investment manager Mark Spindall stated that allowing the president to remove governors on flimsy grounds and fill the vacancies with "loyalists" would undermine Warshs ability to focus on achieving the Feds policy objectives. However, the report believes that this ruling does not completely eliminate the possibility of presidential pressure on the Fed; the Feds future independence still depends on how Trump treats Warsh, whom he personally appointed, and whether the Supreme Courts 5-4 ruling will be upheld in future cases.Google (GOOG.O): Starting today, a free personalized photo generation feature is available to U.S. users in the Gemini app.Honeywell Aerospace CEO: Operating independently will allow the company to better support Boeing and Airbus in increasing production capacity. The company is diversifying its supplier base as part of its capacity-boosting strategy. It is also considering acquisitions to expand into electrification, automation, safety, and production efficiency technologies.June 30 - According to a report by The Jerusalem Post citing sources, the US government believes the possibility of Israel and Syria normalizing relations before the Israeli parliamentary elections in October is "very slim." The report states that Syria has demanded Israel withdraw its troops from the buffer zone, but the US believes Netanyahu is unlikely to approve the withdrawal before the election, which will be a major obstacle to normalization.Iranian Foreign Ministry spokesman: The visit of US officials to Qatar is unrelated to the visit of the Iranian delegation to Doha, and there will be no talks with the US in the coming days.
