When asked about stock market valuations, Federal Reserve Chairperson Jerome Powell said it is not the Fed's job to focus on any single asset.
Iraq's OPEC representative said OPEC + could agree on Sunday to increase oil production by 130,000 to 140,000 barrels a day.
Vice President Vance said he did not think it would be productive to have Russian President Vladimir Putin sit down with Ukrainian President Vladimir Zelensky before meeting with U.S. President Donald Trump.
Bank of Japan meeting notes: Some members said that once the trade issue stabilizes, the Bank of Japan may consider resuming interest rate hikes.
On Aug. 3 local time, U.S. Trade Representative Greg Greer said that a new round of tariffs imposed by U.S. President Donald Trump on several countries last week is "basically set" and will not be adjusted in the current negotiations, including 35% tariffs on imports from Canada, 50% tariffs on Brazil, 25% tariffs on India, and 39% tariffs on Switzerland. Some of the tariffs are based on bilateral trade surpluses and deficits, and "these rates are basically fixed," Greer said. (CCTV News)
The Federal Reserve 2.50 billion renovation storm escalated! Powell refuted the White House's accusation that the headquarters renovation "did not meet significant standards of design change" and did not need to be re-approved. The head of the Federal Housing Finance Agency said lawmakers will accuse Powell of perjury. Click to view
After SpaceX prepared to invest $2 billion in xAI, Musk said that Tesla plans to hold a shareholder vote on whether to invest in xAI. Musk responded to a post on X by saying that any decision to support xAI is ultimately not something he can make. Musk publicly asked X user Tesla last year if he should invest $5 billion in xAI, writing at the time that he was just testing the waters. But he said at the time that Tesla's board and supporters needed to give the green light to the decision. Tesla t...
Shigeru Ishiba has said he will continue talks with the United States to seek a mutually beneficial trade deal, but polls show Japan's ruling coalition could lose its majority in the Senate. Analysts warn this will complicate trade talks. Click to view...
Senior White House officials said US President Donald Trump brokered a ceasefire in a phone call with Israeli Prime Minister Benjamin Netanyahu on Monday afternoon, with Vice President Vance, Secretary of State Rubio and Middle East envoy Yves Witkov holding direct and indirect talks with the Iranians aimed at brokering a ceasefire.
The Bank of Japan meeting opinion summary: A member said that the Bank of Japan will temporarily suspend interest rate hikes, but should not fall into excessive pessimism, and must guide monetary policy flexibly and skillfully; a member said that there is little possibility of a slowdown in Japan's underlying inflation. (Jin Ten)