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Chinese Foreign Minister: China is ready to promote coordination and broader cooperation with Iran on regional and international issues – excerpt from the statement of the Ministry of Foreign Affairs

🔴Trump drops plan to fire Fed Chairman Jerome Powell and signals to ease tensions over tariffs

President Trump this week dismissed rumors about firing Fed Chairman Jerome Powell, calling it a false story from the media. However, some White House officials explored legal options to fire Powell 'for cause' but backed off after Trump received advice from Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick. They warned that this could lead to legal controversy without changing policy, as other Fed members also agree with Powell.

Trump asserts he has no intention of firing Powell but emphasizes that the current moment is 'ideal' for cutting interest rates. Although Trump has previously threatened, experts say replacing Powell would not change Fed policy when inflation concerns persist.

Additionally, Trump also opened the possibility of reducing the 145% tariffs on Chinese goods, soothing investors. Tesla CEO Elon Musk, now a government adviser, stated that he would encourage Trump to ease tariffs.

The White House's shift on issues with Powell and tariffs indicates that Trump is becoming more attuned to market reactions and has a more pragmatic attitude in the context of an unstable economy.