🏛️ Legislative Update: The “Big Beautiful Bill”
- The bill, strongly backed by Trump, is reportedly on the verge of passing the House of Representatives, having already passed the Senate after a marathon 27-hour amendment session.
- Trump aims to sign the bill by July 4th, aligning with his campaign promises.
- Key Republican figures and congressional reporters confirm momentum and optimism around the bill’s passage.
- The bill is described as potentially the largest tax cut in recent memory.
đź’Ľ Federal Reserve and Jerome Powell
- Trump is publicly pressuring Fed Chair Jerome Powell to resign immediately, criticizing the Fed’s refusal to lower interest rates.
- He accuses Powell and the Fed Board of failing in their duties, claiming they are costing the country trillions in interest.
- Trump has hinted at having “two or three” candidates in mind to replace Powell, including:
- Kevin Warsh (former Fed governor)
- Kevin Hassett (former NEC Director)
- Scott Desantis (Treasury Secretary)
- Christopher Waller (former World Bank President and Fed governor)
- Trump may announce a replacement as early as September or October, or wait until a 2026 Fed Board vacancy.
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