The case involves two family-owned businesses, Learning Resources Inc. and hand2mind Inc., which sought to invalidate many of President Trump’s taxes on imports.
In its latest Monetary Policy Report, the central bank maintained its cautious stance on rate cuts, saying it is better to wait for more clarity on inflation and economic activity.
The report, also known as the Philly Fed Survey, pointed to weakness in manufacturing activity over the past month; its monthly manufacturing index remained flat at -4 in June, unchanged from May.
Speaking at the White House, Trump said Powell, whom he appointed during his first presidential term, had performed poorly and jokingly mused about taking over the Fed himself.
Trump also revealed that the U.S. has “complete and total control” of Iran’s airspace and added that while Iran had good sky trackers and defensive equipment in place, they don’t compare to American-made devices.
Investor preference tilted strongly toward the eurozone, emerging markets, and banks, while U.S. equities, the dollar, and energy ranked lowest, according to Bank of America's global fund manager survey.
